Thank you well that that terrified me and the people that I've been talking to over the last few weeks to a level that I've never seen before and myself personally let's break it down first there's roughly 5 000 of these Regional Banks and these Banks Robert are responsible for roughly 70 of all the small business loans in the United States and the small businesses have traditionally represented anywhere near 40 percent of GDP in this country they are the backbone these are the banks where you walk in and they say hi how's your family how is your Dad how's your mom how are your kids?
uh oh I'll how's the new business going and they make loans based upon relationships not upon balance sheets and business plans they are more of a piece of the community for all the Middle America and the majority of all the small businesses in this country have relied upon these Banks because of a relationship and where a business plan and a balance sheet may not stack up so well with one of the big five or six commercial Banks it works with the small Regional Banks and so what she said was when being interviewed and in a house subcommittee inquiry the gentleman the representative from Oklahoma said Madam Secretary I just want to make sure we're on the same page or you just bailed outside at your bank and you just bailed out the depositors at Silicon Valley bank now if one of my constituents in Oklahoma who has five million dollars in a Regional Bank goes bankrupt if the bank goes bankrupt will that to posit or be bailed out and everyone else all the banks in Oklahoma and she said no sir um they won't be it will have to be determined and by an Uber majority as she turned it between the FMC which is the Federal Reserve the FDIC uh myself and the president so in essence what she was saying is that they will be judge jury and actually an executioner but if you really look at what she's saying she is basically saying that if you have money in any of the banks that are not systemically too big to fail then you better get it out because they will fail and you will be bailed in and there's nothing that you've been warned,
and the question then becomes which banks are too big to fail which banks are systemic and when you have a small business or your life savings in a place where you thought it was safe and isn't it wasn't you never speculated to begin with um what's going to happen, are you going to risk that to change and so she's lit a fuse under literally 5 000 banks in this country that have been the Cornerstone of the small businesses and of Middle America, forcing everyone into a handful of very large commercials and it's a very, very frightening situation for most of these people to have to come to grips with either staying with the relationships they have and hoping for the best while not really preparing for the worst or engaging their money out and moving it into one of the large commercial Banks which she's telling us will not fail we will backstop the too big to fail Banks and in essence,
he's creating socialized banking putting everyone into just a handful of very, very large banks in the last two weeks I have never experienced the level of anxiety and fear and feeling right now it's almost like a vat of butter poured over my head and it's just coding me with people's anxiety the level of fear and anxiety and it's awful I mean people are terrified right now and they don't know where to turn some are turning to precious metals and others are turning to short-term government treasuries and others are moving to the big Banks but the amount of money being yanked out of these Regional Banks which are is going to have a domino effect is extraordinary and so Mexico has formally applied the rumor is Japan Australia and New Zealand are contemplating if I had to sum it up Robert I guess I would say something to the extent that what it really symbolizes is that the United States and their actions have done more to destroy themselves ourselves itself in the past few years than any external enemy could have ever done because we weaponize our source of power which is the US dollar and we have driven most of the world away from it as a result and the majority of the world's populations reside in the areas that comprise the bricks the Shanghai cooperation organization the Belt Road initiative and the Eurasian economic Union this holy group of people that are rallying together against this type of hegemony this type of as you called it last time bullying um and the perception of hypocrisy and they are rallying away from the west,
and really that's what it talks about the ramifications of what really does that mean if we lose the petrol Reserve status and that's kind of what number two and number three talk about number two was it's happening and I guess today we would talk about what happens when it does happen and what is it that is happening right and there have been a lot of things that are happening and we'll, we'll talk about this one first and this is the the the president of Kenya who you know innocently enough made uh a deal with Saudi Arabia and the United Arab Emirates both of which have been our allies right both of which are joining the BRICS Nations and the Shanghai cooperation organization that all on the Belt Road initiative so in and of itself Kenya sang to Saudi Arabia and the United Arab Emirates that we will buy your oil from now on with Kenyan shillings instead of US dollars in and of itself is not as big of a deal I talk about the game of Jenna where you pull pieces out and finally the whole thing tips over but what was very interesting about what he said was this piece where in the first 30 seconds more or less what he says is let me give you all some advice who hold US Dollars the term he uses you should go to the nurses now.
I guess there's a little bit of translation there that uh in terms of his command of the English language but he said in the next few weeks this Market will be very different in essence he's intimating that something some event whatever that event may be is going to happen in the next few weeks that will affect about that those,
holding dollars should do what they need to do right now he says because in the next few weeks this Market will be very different and I found it to be rather concerning on a broader sense.
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