Biden and the Bank Crash – Why Biden’s Green Energy Push is Driving US Banks into Insolvency
10 hours ago Eric Worrall 14 Comments
Essay by Eric Worrall
Here I make the case that the financial crisis engulfing the USA’s banks and financial sector can be traced straight back to Biden’s inflationary green energy push.
Breitbart Business Digest: Markets Humiliate Jerome Powell
JOHN CARNEY 4 May 2023
When Banks Talk About Solid Liquidity, Look Out Below
To put it lightly: Jerome Powell is not having a good week.
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The market seems to be in full panic mode. What set off the sell-off on Wednesday evening was a relatively anodyne report that PacWest was “weighing strategic options,” which could include a sale of the bank or even a break-up. Normally, news that a company is considering a sale pumps up its share price. But in the midst of a crisis on confidence for banks, this has the opposite effect. Investors figure you are not selling because you want to, but because you have to.
Similarly, the market seemed to have interpreted PacWest’s attempt to be reassuring as a sign of weakness.
“The bank has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news,” PacWest said in a statement. “Our cash and available liquidity remains solid and exceeded our uninsured deposits.”
https://wattsupwiththat.com/2023/05/05/biden-and-the-bank-crash-why-green-energy-drove-banks-into-insolvency/
