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Bank Bailouts & The Economic Fallout  |  The failures of Silicon Valley Bank, Silvergate Capital, and Signature Bank have raised eyebrows about the US financial system, rattling markets, and bringing FEAR into middle America. Economist Harry Dent has been predicting a hard landing if the bubble is indeed going to burst. You might say, it feels like a category 5 hurricane right off the shore that is ready to hit the United States. We’ll talk about steps you can take to protect yourself.

How bad will it get? What other crises in the economy could we point to that consumers should be watching carefully? What about gold and silver – is this a real answer for folks? What other things can people do in preparation for a downfall?

First Republic Bank headed for possible sale after institutional bailout  |  Many of the institutions involved in the bailout of First Republic Bank are also said to be looking to make a possible purchase of the San Francisco-based institution. Those said to be interested include Morgan Stanley and PNC Bank — several of the same firms that put up the $30 billion in bailout money to keep First Republic from following Silicon Valley Bank (SVB), Signature Bank, and Silvergate into insolvency, according to people with direct knowledge of the matter. (Fox Business)

U.S.-listed shares of Credit Suisse were also down 9% as traders parsed through the bank’s announcement that it would borrow up to $50 billion francs, or nearly $54 billion, from the Swiss National Bank. Shares were unchanged when the market closed on Thursday. (CNBC)

Harry S. Dent, Jr., Economic Forecaster & New York Times Best Selling Author, Editor of the free newsletter: HS DENT FORECAST at harrydent.com. Find his latest book, Zero Hour, in the America Out Loud Bookstore.

As the Economic Storm Approaches… Banking Failures Are a Harbinger of Our Pending Economic Crisis, says Wallace Garneau. Are We Headed Toward Central Government Control of America’s Banks? is the question that Patricia Anthone poses. A riveting panel discussion on this potential category 5 hurricane.

SVB is a bank, but understand that it was not acting much like a bank – it was acting like a venture capitalist, backing quite literally half of all venture-backed technology and life-science companies in the United States. The Biden Administration makes it sound like extending FDIC coverage for the entirety of all accounts at SVB somehow helps the average American household, but really, it’s a bailout for venture capitalists (and Democratic donors).

SVB was a particularly ‘woke’ bank, favoring investments in Diversity, Inclusion, and Equity (DIE) initiatives, and climate alarmism. Signature Bank had the same problems and also failed, and note that Maria Kumar of NBC, referred to SVB this past Sunday as “The Democrat’s ATM” in reference to SVB’s investment choices.

Read more: Banking Failures Are a Harbinger of Our Pending Economic Crisis

The narrative about this excessive intervention paints a picture of the Biden Administration’s swift and deft stewardship saving us all from a collapse of the banking sector. The opposite is true. In fact, in their zeal to score political points while preventing losses among their donors, the administration actually planted unjustified seeds of doubt about the state of the nation’s banks.

To claim that the billions on deposit with the failed banks is covered by an idea that is yet to be implemented is, of course, a lie. What specific damage is done by nullifying the D-SIB designation and exceeding FDIC deposit coverage in its absence? (D-SIB, Domestic – Systemically Important Banks; institutions whose failure would pose a risk of a broad financial crisis.)

1. Doing so effectively nationalizes our banking sector; converting it into a centrally-controlled banking system.
2. Fostering systemic insolvency and dependence on federal subsidy.
3. Assuring that banking decisions; access to capital, institutional investment, etc., can be made in pursuit of ideological doctrines rather than on the basis of sound fiscal principles.
4. Sets the table for Central Bank Digital Currency; a prerequisite to the establishment of social credit scoring.

Read more: Are We Headed Toward Central Government Control of America’s Banks?

Wallace Garneau is a political analyst, commentator, and blogger. He served in the US Marine Corps. Author of the book: The Way Forward: Lean Leadership and Systems Thinking for Large and Small Businesses.

Patricia Anthone is an author, activist, and a constitutional conservative who analyzes the political operatives and events against the backdrop of our Constitution.

On Viewpoint This Sunday, our goal here is not just to report the facts and the news but to understand the core of the problem and offer resolutions that provide the path forward for lasting peace. Our distinguished panel of experts will provide the context to the current battle and the long-term consequences of this historic clash of good and evil. You will not hear this conversation anywhere in the mainstream media or otherwise political circles. Rate the program, leave a quick review, and subscribe to Viewpoint on Apple Podcasts by clicking here. Your voice for the fight forward – Malcolm.

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Mar 19, 2023, at 10 am ET
Encore Presentation at 6 pm
Available on Podcast Networks after 3 pm

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