Ripped From The Headlines, March 22, 2023
Treasury Flip-Flop On Deposits, China In The Driver's Seat, Amazon Wants Your Biometrics - Read, Share, & Subscribe - SherlocExposes.com
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“U.S. Treasury Secretary Janet Yellen told lawmakers on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing ‘blanket insurance’ for banking deposits following the collapse of two prominent U.S. banks this month.
Some banking groups have urged Congress to temporarily guarantee all U.S. bank deposits, a move they say will stem a deeper crisis after the failure of Silicon Valley Bank and Signature Bank.
Yellen, speaking before a U.S. Senate subcommittee, said she believed it was ‘worthwhile’ to look at changes to FDIC deposit insurance, but that increasing it beyond the current $250,000 limit was not being considered.
When a bank failure ‘is deemed a systemic risk, which I think of as the risk of a contagious bank run, (we) are likely to invoke (a) systemic risk exception, which permits the FDIC to protect all deposits,’ Yellen said, adding the department will determine systemic risks on a case-by-case basis.
Yellen said the administration was not considering ‘anything having to do with blanket insurance or guarantees of deposits.’"
“China now sees itself as a global power—and it is starting to act like one.
Long reluctant to inject itself into conflicts far from its shores, Beijing is showing a new assertiveness as Xi Jinping begins his third term as the country’s head of state, positioning China to draw like-minded countries to its side and to have a greater say on global matters.
China is emerging from three years of ‘zero-Covid’ isolation to a far more unfriendly West, and signaling that it feels it has the military and economic heft to start shaping the world more to its interests.
Earlier this month, Beijing surprised the world by brokering a detente between Saudi Arabia and Iran, a bold foray into the Middle East’s turbulent rivalries.
Now, Mr. Xi says he wants to insert himself into efforts to end the Russia-Ukraine war, as he returns home from several days of warm meetings in Moscow with Russian President Vladimir Putin, and plans his first conversation since the beginning of the war with Ukrainian President Volodymyr Zelensky.’”
“Amazon.com Inc's palm-scanning or cashier-less checkout technology is in more than 200 establishments in and outside the company, a vice president told Reuters.
The e-commerce and cloud-computing giant is widening deployment of its contactless technology with existing customers, Vice President Dilip Kumar said in an interview.
Amazon declined to provide growth figures, but in June 2022 the company said more than 69 locations in the U.S. and UK had such technology.
It is also making new deals. On Wednesday the U.S. cafe chain Panera Bread unveiled Amazon One devices, which let customers scan their palms to pay, for two locations in greater St. Louis. Kumar said the deployment would expand to 10 to 20 Panera cafes in coming months.
A palm swipe would also let Panera pull up restaurant goers' rewards accounts and order histories, the companies said.
Kumar declined to state the deal's value but described the business model as selling software and devices as a service.
The expansion reflected demand for Amazon's contactless technology despite macroeconomic headwinds, he said. More than 50 of the installations were with the likes of independent retailers, stadiums and university customers, and the rest were in Whole Foods and other Amazon stores, he added.
‘When times are lean,’ he said, ‘retention of your existing customers and to be able to win customers becomes even more important.’"
“One Of Those Wednesdays” Ripped From The Headlines. Things To Ponder:
“Well, we’re REALLY not going to guarantee all of those deposits… except when we decide to…”
That’s basically what the US Treasury Secretary, Janet Yellen, said today to lawmakers…
The day after this came out…
And that VERY SAME Janet Yellen saying this:
(Click Here to read the full article.)
So, what Janet Yellen is actually saying is that the government will cover all deposits when their long-running scam finds itself in enough trouble that it may cause mass panic and a run on banks.
And it just so happens that we’re in a place where there are “still banking issues…”
Hmmm…
What’s the next domino to fall?
Hard to tell, but we’re thinking about solutions as well. Check the “what should I do?” section at the end of today’s piece for more information.
Monday Redux: “You Guys Stay Busy Being Distracted… I’ll Be Over Here, Running The World Order…”
(Editor’s Note: We share this in yesterday’s Ripped From The Headlines, and we’re sharing it again today to make a point - China is taking territory.)
That’s what President of China (For Life) Xi Jinping is saying while he’s in Russia…
He’ll just be “standing guard” over it, “based on international law…”
You mean like China, Xi?
Here’s what Xi Jinping is actually trying to say:
China and Russia have a plan to keep things in check… without the US being involved.
We’re not into world governments or world orders or anything… please don’t get us wrong…
What’s confusing to us, is how a totalitarian dictator who runs a massive surveillance state is in a position to make this statement…
And to have people take him seriously.
How seriously you ask? We’ll refer you back to this article from December 1, 2022:
Know. Your. Foe.
“Thanks For Your Order… That Will Be One Palm, Please…”
And Amazon is there, ready to help complete your order help collect your data…
See, it wasn’t enough to have contactless pay with your phone…
Or tap your card to pay…
They need to make it easy to pay with your biometric data…
“For convenience…”
Sure…
Interestingly enough, Amazon was super hot on the idea, offering people $10 for their palm print…
Which got the attention of Congress:
Here’s a snapshot of what lawmakers mentioned:
“In contrast with biometric systems like Apple’s Face ID and Touch ID or Samsung Pass, which store biometric information on a user’s device, Amazon One reportedly uploads biometric information to the cloud, raising unique security risks,” the senators wrote. “… Data security is particularly important when it comes to immutable customer data, like palm prints.”
What could go wrong?
A LOT.
Know. Your. Foe.
What Does This Mean?
It means you’re in a deadly game of musical chairs…
And you’re the patsy at the poker table…
Except in this game, you don’t lose just your pride or a few bucks…
You could be completely wiped out, and dependent on a system that has plans to “eliminate your pain…”
Kind of like they do in Canada…
You know what that means.
Why Should I Care?
Because this is going to be your future if you don’t do something about it:
You are going to save yourself.
You should care.
What Should I Do?
You’ve got work to do…
Study EVERYTHING you can find on parallel and alternative economies.
Prepare to implement it.
If you are blessed to have means, start thinking about what you, your family, and your community are going to need, and how commerce will happen in a super local economy.
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