Ripped From The Headlines, January 18, 2023
Davos Freak-Out Over US Debt Standoff, Big Banks To Break Up?, Another Power Substation Attacked - Read, Share, & Subscribe - SherlocExposes.com
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Ripped From The Headlines - A Tribute To The Legendary Paul Harvey
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"The finance and tech CEOs gathering at the World Economic Forum this week expressed measured optimism about the economy in 2023 — but at least one major risk looms for markets, they said.
The U.S. economy has slowed since the Federal Reserve began raising interest rates last year, sowing fears that a recession was unavoidable.
The world’s largest economy risks defaulting on its debt for the first time in modern history this summer as politicians wrangle over raising the country’s debt limit, currently capped at $31.4 trillion.
The U.S. is expected to reach its debt limit Thursday, Treasury Secretary Janet Yellen said last week. After that, the Treasury will find ways to fund their debt obligations until at least early June, Yellen said.
'I don’t think anybody knows what would happen if they really went further than what happened in 2011,' the CEO of a Wall Street bank said on the sidelines of the conference. 'That’s why it’s scary.'
The CEO, who declined to be identified speaking candidly, said he had just met a group of U.S. lawmakers worried about the coming impasse.
'It would affect markets and it would be a drag on economic activity because of the uncertainty,” he said. “It would be really bad for us.'”
"Big banks may need to be broken into smaller pieces if they become too big to manage and are unable to fix significant regulatory lapses, a top federal banking regulator said in a warning shot across Wall Street on Tuesday.
'A bank’s failure to resolve longstanding deficiencies despite reprimands from its regulators and onerous restrictions such as caps on its growth are evidence that a firm is unmanageable and needs to be broken up,' acting Comptroller of the Currency Michael Hsu said.
Mr. Hsu’s remarks don’t target any specific bank to be broken up but appear to highlight concerns about firms like Wells Fargo & Co., which has struggled to resolve longstanding problems despite repeated enforcement actions and billions paid in penalties.
Banks can become so big and complex 'that control failures, risk management breakdowns, and negative surprises occur too frequently,' Mr. Hsu said, speaking at the Brookings Institution, a Washington think tank. 'Not because of weak management, but because of the sheer size and complexity of the organization.'
'In short, effective management is not infinitely scalable,' he said."
"Another power substation in North Carolina has been damaged because of apparent gunfire, energy officials said Tuesday. The damage occurred at a power substation in Thomasville, about an hour away from Moore County, where just weeks ago two other substations were attacked by gunfire.
EnergyUnited said that company officials learned of an 'equipment issue' at the Pleasant Hill Substation on Tuesday morning, at which time crews were sent to assess the situation. There, they found that a transformer had been damaged 'from an apparent gunshot' and law enforcement was notified.
The damage to the substation comes weeks after two other power substations in the state were hit by gunfire, leaving at least 40,000 people without electricity. Those stations, owned by Duke Energy, were located in nearby Moore County and are believed to have been hit as part of a 'targeted' attack, according to the county's sheriff.
'It wasn't random,' Moore County Sheriff Ronnie Fields said of the Dec. 3 incidents. In an update posted to Facebook on Dec. 28, the sheriff said the office has received 'numerous tips' and that there is a $75,000 reward for information leading to an arrest."
“Musical Chairs Wednesday,” Ripped From The Headlines. Things To Ponder:
“Not To Worry… We’ll Just Be Over Here Defaulting…”
Sounds funny…
But what’s not funny… is the CEO of a Wall Street bank worrying that “things” will be worse than they were in 2011…
That “thing” was the 2011 Debt Ceiling Crisis which was going to lead to utter disaster (Click Here to learn more about it…)
While a default isn’t likely, it is possible…
That said, we also learned something interesting during the 2011 debt ceiling issue from people trying to work around it:
“During the debate, some scholars, Democratic lawmakers, and Treasury Secretary Tim Geithner suggested that the President could declare that the debt ceiling violates the Constitution and issue an Executive Order to direct the Treasury to issue more debt.
They point to Section 4 of the Fourteenth Amendment to the US Constitution, passed in the context of the Civil War Reconstruction, that states that the validity of the public debt shall not be questioned. Others rebutted this argument by pointing to Section 8 of Article 1 and Section 5 of the Fourteenth Amendment, which state that Congress has the power of the purse and the authority to enforce the Fourteenth Amendment.”
Hmmm… don’t put anything past the people in Washington DC trying to save their bacon.
Know. Your. Foe.
“Big Banks Have To Answer? NO WAY!”
Big banks could be broken up?
Color us SHOCKED! Not…
While he’s busy making statements like that, Mr. Hsu might want to look into why the capital reserve requirements for those banks was reduced to ZERO in 2020 though…
See, that’s when the bank can take $100 in deposits from you, and loan all $100 of those dollars out…
Before that, they had to leave some in the kitty, in the event you wanted it back got smart to the fact they didn’t have your money and you couldn’t get it if you wanted it… to make it look like something was there.
Don’t believe us?
Try going to the bank to get 2 or 3 grand out…
You’ll be subjected to an interrogation, rubber glove exam, and told to come back later…
FOR YOUR MONEY.
Keep an eye on this situation… like this:
“Is Someone Trying To Send Us A Message?”
That’s how it feels with these power stations getting hit, right?
When we originally covered this back in December, we said this:
“The circumstances are odd, but so is the style of the attacks…
And the number of them that have happened.
Given where things are at in the world today, it’s hard to tell what’s what…
But, you should always look at a situation twice on your journey to get to the truth.”
That’s still true today.
Know. Your. Foe.
What Does This Mean?
The grift and the inability to manage things aren’t even being hidden anymore…
It doesn’t matter if it’s big money trying to make sure you get left without a chair when the music stops, or your “representatives” spending your money however they want, with little thought about you, or the infrastructure you rely on crumbling all around you…
They just keep spending… like Nero… while Rome burns.
Even after a shady FAA outage… which led to other outages… and then a near collision of planes in NYC.
They just keep going…
Yep, it means what you think it means… nothing good for you.
Why Should I Care?
We’ll go ahead and do this one today to humor you…
If you keep letting this stuff happen, you’ll find yourself living in a world like Logan’s Run, 1984, and The Running Man combined.
What Should I Do?
You need to get yourself ready for life in the Parallel Economy. Things are going to get worse before they have any chance to get better:
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