Number of Children Identifying as Transgender Surges

Transgender identification is on the rise, especially among the youth. Now why is that? Because the left has made it the fashion. And kids follow the fashion. Trends and fashion (especially from the left) has always had it’s crazy, dark, wild, destructive aspects to it. What makes this so monstrous is it damages, destroys, and sexually mutilates the child for life after the fashion.

Keep your children out of public schools and off line.

Number of Youth Identifying as Transgender Surges

By: Breitbart News, March 16, 2023:

Tens of thousands of people are seeking life-changing, irreversible medical treatments in an attempt to change their sex.

Transgender identification is on the rise, especially among the youth. One report from the Pew Research Center found that a full five percent of young adults claim that their gender is different from their sex.

The report explains that “the share of U.S. adults who are transgender is particularly high among adults younger than 25,” then adds that “in this age group, 3.1% are a trans man or a trans woman, compared with just 0.5% of those ages 25 to 29.”

In addition, a Reuters report found that diagnoses of youth with gender dysphoria have skyrocketed in the U.S. in recent years. While there were just over 15,000 cases in 2017, the number has shot up to more than 42,o00 in 2021.

“As the number of transgender children has grown, so has their access to gender-affirming care, much of it provided at scores of clinics at major hospitals,” the report reads:

Read more.

AUTHOR

RELATED ARTICLE: Elementary School ‘Teacher of the Year’ Arrested for Student Sexual Abuse

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

Why SVB and Signature Bank Failed so Fast – and Why the U.S. Banking Crisis Isn’t Over Yet

With over $1 trillion of bank deposits currently uninsured, the banking crisis is far from over.


Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time. The failures at SVB and Signature were two of the three biggest in U.S. banking history, following the collapse of Washington Mutual in 2008.

How could this happen when the banking industry has been sitting on record levels of excess reserves – or the amount of cash held beyond what regulators require?

While the most common type of risk faced by a commercial bank is a jump in loan defaults – known as credit risk – that’s not what is happening here. As an economist who has expertise in banking, I believe it boils down to two other big risks every lender faces: interest rate risk and liquidity risk.

Interest rate risk

A bank faces interest rate risk when the rates increase rapidly within a shorter period.

That’s exactly what has happened in the U.S. since March 2022. The Federal Reserve has been aggressively raising rates – 4.5 percentage points so far – in a bid to tame soaring inflation. As a result, the yield on debt has jumped at a commensurate rate.

The yield on one-year U.S. government Treasury notes hit a 17-year high of 5.25% in March 2023, up from less than 0.5% at the beginning of 2022. Yields on 30-year Treasurys have climbed almost 2 percentage points.

As yields on a security go up, its price goes down. And so such a rapid rise in rates in so short a time caused the market value of previously issued debt – whether corporate bonds or government Treasury bills – to plunge, especially for longer-dated debt.

For example, a 2 percentage point gain in a 30-year bond’s yield can cause its market value to plunge by around 32%.

SVB, as Silicon Valley Bank is known, had a massive share of its assets – 55% – invested in fixed-income securities, such as U.S. government bonds.

Of course, interest rate risk leading to a drop in market value of a security is not a huge problem as long as the owner can hold onto it until maturity, at which point it can collect its original face value without realizing any loss. The unrealized loss stays hidden on the bank’s balance sheet and disappears over time.

But if the owner has to sell the security before its maturity at a time when the market value is lower than face value, the unrealized loss becomes an actual loss.

That’s exactly what SVB had to do earlier this year as its customers, dealing with their own cash shortfalls, began withdrawing their deposits – while even higher interest rates were expected.

This bring us to liquidity risk.

Liquidity risk

Liquidity risk is the risk that a bank won’t be able to meet its obligations when they come due without incurring losses.

For example, if you spend US$150,000 of your savings to buy a house and down the road you need some or all of that money to deal with another emergency, you’re experiencing a consequence of liquidity risk. A large chunk of your money is now tied up in the house, which is not easily exchangeable for cash.

Customers of SVB were withdrawing their deposits beyond what it could pay using its cash reserves, and so to help meet its obligations the bank decided to sell $21 billion of its securities portfolio at a loss of $1.8 billion. The drain on equity capital led the lender to try to raise over $2 billion in new capital.

The call to raise equity sent shockwaves to SVB’s customers, who were losing confidence in the bank and rushed to withdraw cash. A bank run like this can cause even a healthy bank to go bankrupt in a matter days, especially now in the digital age.

In part this is because many of SVB’s customers had deposits well above the $250,000 insured by the Federal Deposit Insurance Corp. – and so they knew their money might not be safe if the bank were to fail. Roughly 88% of deposits at SVB were uninsured.

Signature faced a similar problem, as SVB’s collapse prompted many of its customers to withdraw their deposits out of a similar concern over liquidity risk. About 90% of its deposits were uninsured.

Systemic risk?

All banks face interest rate risk today on some of their holdings because of the Fed’s rate-hiking campaign.

This has resulted in $620 billion in unrealized losses on bank balance sheets as of December 2022.

But most banks are unlikely to have significant liquidity risk.

While SVB and Signature were complying with regulatory requirements, the composition of their assets was not in line with industry averages.

Signature had just over 5% of its assets in cash and SVB had 7%, compared with the industry average of 13%. In addition, SVB’s 55% of assets in fixed-income securities compares with the industry average of 24%.

The U.S. government’s decision to backstop all deposits of SVB and Signature regardless of their size should make it less likely that banks with less cash and more securities on their books will face a liquidity shortfall because of massive withdrawals driven by sudden panic.

However, with over $1 trillion of bank deposits currently uninsured, I believe that the banking crisis is far from over.

This article is republished from The Conversation under a Creative Commons license. Read the original article.

AUTHOR

Vidhura Tennekoon

Vidhura S Tennekoon is an Assistant Professor of Economics at the Indiana University Purdue University Indianapolis. Vidhura earned his BSc degree in Engineering from the University of Peradeniya and an… More by Vidhura Tennekoon.

RELATED ARTICLE: Silicon Valley Bank collapse: go woke, crash the economy

EDITORS NOTE: This MercatorNet column is republished with permission. ©All rights reserved.

Here’s Information on the Florida Legislative Process, Terminology & Bills in the 2023 Session

To help Floridians with your continuous Bill Tracking and activism with applicable Florida Legislators, please see the tweet and information below.

The first is a FLOW CHART showing the entire Bill Process which you may find very useful. For example it shows you what 1st, 2nd and 3rd Readings are all about and how you can cross reference the meaning on the terminology list as well.

The second is a list of TERMINOLOGY that you may see used when checking on the status of a Bill.

The source for this information is Information Center: Online Sunshine (state.fl.us)

So far I do not see where any of the dozen or so bad 2nd Amendment related bills we have tracked have moved anywhere. Several key 2nd Amendment bills appear on their way to being passed and signed into law e.g. HB 221 and SB 214 prohibiting Credit Cards and Banks from discriminating against those in firearms industry and HB 543/SB 150 permit less carry (but not true Constitutional Carry because doesn’t allow open carry or campus carry).

In the Education/School Board area some good bills that have progressed include HB 1 (School Choice which has grown from 50 to 115 pages due to Amendments some of which may not be that good); SJR 94 (Partisan Election of Members of District School Boards); HB 303 (FL Bright Futures Scholarship); HB 467 (Anti-drug instruction in public schools); HB 477 (Term Limits for District School Boards) and others have been tracking and reporting on.

Some other good bills progressing not related to 2A or Education/SB are HJR 131 (Recall of County Officers/Commissioners); HB 305/SB 222 (Protection of Medical Freedom); and HB 477 (Term Limits for District School Board Members).

Terminology in the Florida Bills

Information Center : Online Sunshine (state.fl.us)

ADOPTED Resolutions, memorials, motions, and amendments are “adopted”; bills are “passed.” Adopt means to consent to or accept; pass means to enact by the requisite number of votes. In the Florida Legislature, resolutions (except joint resolutions) and amendments are usually adopted by a voice vote. Bills, as required by the Constitution, are passed by the recorded votes of a majority of the members present. Joint resolutions are passed by a three-fifths vote of the membership.

AMENDMENT Changes in any bill or other proposed legislation may be offered by a committee or an individual legislator in the form of an amendment to a specific portion of the pending bill. All amendments receive a six-digit identifying bar code when filed. As with bills, House amendments are odd-numbered and Senate amendments are even-numbered. An amendment may be offered in four forms: (1) an amendment to the pending bill; (2) an amendment to the amendment; (3) a substitute amendment; and (4) an amendment to the substitute. For example, after the amendatory process in the House has been completed and 2 the bill is passed and sent to the Senate, the Senate may begin the amendatory process again. Upon return of the bill, the House may concur in the Senate amendment(s), refuse to concur and ask the Senate to recede, or amend the Senate amendment.

COMPANION BILL When bills substantially worded the same and identical as to specific intent and purpose are filed in the House and Senate. The purpose is to expedite progress by having simultaneous movement in both houses on the proposal. When a house passes its bill, the sponsor in the other house must be careful to substitute this companion there. Otherwise, each house may pass its own bill, and neither becomes law. While both houses may have acted on identical text, each will have passed a separate bill. See CROSS CONCURRENCE When one house agrees to an amendment adopted by the other house. After concurring in the amendment, a vote is taken again on the passage of the bill as amended.

CONCURRENT RESOLUTION A formal expression of the opinion of both legislative houses. A concurrent resolution may, for example, offer the Legislature’s recognition of an honor or achievement of an individual or group. It also may be used to mourn the passing of a distinguished citizen. Usually, a concurrent resolution applies to non-lawmaking matters, but an exception is the use of a concurrent resolution to express Florida’s ratification or rejection of an amendment to the United States Constitution. Concurrent resolutions are also used to extend sessions and can be used to call the Legislature into joint session.

CONFERENCE COMMITTEE A conference committee is actually two committees, one from each house, meeting together to work out compromise language acceptable to the Senate and House on some measure when agreement could not be reached through amendments. 8 A majority of the members of the committee from each house must agree before the conference committee report may be submitted to the Senate and House. Neither house is obligated to accept the report, but they usually do since the alternative could be the failure of the legislation for that session. Vote on Entirety A conference report differs in importance from the vote in the House and Senate on the original bill because the vote on the conference report is binding. A conference report must be accepted or rejected. It cannot be amended. If rejected, a conference report usually will be recommitted to the conference committee for another try at adjusting the differences.

CONFIRMATION The action of the Senate in agreeing to appointments by the Governor. See EXECUTIVE SESSION; SUSPENSION CONFORMING BILLS Bills that are included in the conference committee negotiations and are considered necessary to “conform” the Florida Statutes to provide for the fiscal changes implemented by the passage of the General Appropriations Act.

CONSENT CALENDAR The Consent Calendar contains bills of a noncontroversial nature and is usually considered under expedited procedures which the House approves in advance of considering the bills. The consent calendar is voted on with one vote for all bills thereon.

CONSTITUTIONAL AMENDMENT, STATE Proposals to amend Florida’s Constitution primarily come from two sources. One is an initiative petition of the citizens; the other is a joint resolution passed by a three-fifths vote of the members elected to each legislative body. The proposal must then be ratified by 60 percent of the voters in a general election. Unless otherwise provided by law, amendments go to the electorate at the next regular general election, so long as this election is held more than 90 days after an amendment has been proposed by the Legislature. The Legislature, by a law enacted by three-fourths of the members elected to each house, may provide for a special general election to be held at least 90 days after the Legislature has proposed the amendment. Amendments to the Florida Constitution, when ratified by the electorate, become effective on the first Monday in January following the election, unless some other date is specified in the amendment.

COSPONSOR The House member introducing a bill is known as the firstnamed sponsor, and his or her name appears first on the sponsor list and in the Journal. All others who “s

DECORUM The reasonable quiet or calm that a Speaker or President seeks to impose upon the body so that business may be conducted in an orderly manner with an appropriateness of appearance, behavior, and conduct. This decorum provides for the ability to be both seen and heard.

DELEGATION Legislators from the same locality, typically a county. Legislators occasionally will designate themselves as being members of the county’s delegation.

ENGROSSED BILL When a bill has been amended, it is written to include the change in language. This version is known as the engrossed bill. This version is done in the house of origin: a Senate amendment to a House bill will be attached and if accepted by the House, the bill will then be engrossed under the supervision of the Clerk of the House. Similarly, a House amendment to a Senate bill, if accepted by the Senate, will be engrossed by the Senate Secretary. A bill may be engrossed more than once. See

ENROLLED BILL After both houses have agreed upon a bill, and it becomes an act, the bill is reformatted and this enrolled version is signed by the Constitutional officers of the House and Senate, sent to the Governor for consideration, and subsequently transmitted to the Secretary of State (unless vetoed during a legislative session). Memorials, Joint Resolutions, and Concurrent Resolutions are filed directly with the Secretary of State. See ENGROSSED BILL EXECUTIVE SESSION A session the Senate enters for the purpose

FIRST READING This constitutional requirement is met when a bill is officially introduced into one of the houses of the Legislature and its title is published in the Journal. This constitutes the “first reading” in the Journal and also shows the committee to which the presiding officer has referred the bill.

INTRODUCTION The process of bringing a proposed bill before the Legislature. Members approve their bill drafts prepared by the bill drafting services and a bill number is assigned to each bill. The bill title is printed in the Journal of the House and Senate, which constitutes first reading and introduction.

LAY ON THE TABLE Laying a bill on the table enables the body to move on to the next order of business without completing action on the bill under discussion while leaving it in a position which could allow its reintroduction. A bill, motion, or amendment laid upon the table is usually dead.

ORDER OF BUSINESS The order in which business is taken up in the Legislature each day of the regular session. The daily order of business in the House is:

  1. Call to Order
  2. Prayer
  3. Roll Call
  4. Pledge of Allegiance
  5. Correction of the Journal
  6. Communications
  7. Messages from the Senate
  8. Reports of Committees
  9. Motions Relating to Committee and Subcommittee References
  10. Matters on Reconsideration
  11. Bills and Joint Resolutions on Third Reading 19
  12. Special Orders
  13. House Resolutions
  14. Unfinished Business
  15. Introduction and Reference

The Senate order of business is slightly different:

  1. Roll Call
  2. Prayer
  3. Pledge of Allegiance
  4. Reports of Committees
  5. Motions Relating to Committee Reference
  6. Messages from the Governor and Other Executive Communications
  7. Messages from the House of Representatives
  8. Matters on Reconsideration
  9. Consideration of Bills on Third Reading
  10. Special Order Calendars
  11. Consideration of Bills on Second Reading
  12. Correction and Approval of Journal
  13. Unfinished Business

PASSED To be approved by the body. Bills and joint resolutions are passed. Memorials, other resolutions, amendments, and motions are adopted

PRIME COSPONSOR The second-named sponsor of a bill in the House. Listed after the member who filed the bill, the prime cosponsor will occasionally 21 stand with the first-named sponsor while the bill is being heard in committee or on the floor. The prime cosponsor asks and is approved by the first-named sponsor and their name will appear on the title of the bill.

PRIME SPONSOR The House member submitting a bill for introduction is known as the “prime sponsor” (by rule, the “first-named” sponsor). The prime sponsor’s name appears first, not only on the original bill, but in the printing of the bill, reference to the bill in Leagis, and all other references.

READINGS Each bill or proposed constitutional amendment must receive three readings on three separate days, unless waived by a two-thirds vote of the members voting in each legislative house before passage. The reading of the title only typically suffices. This reading of the title is usually brief, often just a few words, but enough to describe the subject of the bill. A “reading” may be regarded as a stage in the progress of legislation. Certain things happen on these different stages in the movement of a bill through each house. On “first reading,” a bill is introduced. “First reading” now is almost exclusively done by publication in the Journal. Amendments generally are considered on “second reading.” Debate and final passage occur on “third reading.”

SELECT COMMITTEE A select committee is created by the presiding officer for the purpose of dealing with a specific issue. Unlike standing committees, which remain in existence for the duration of the session, a select committee usually goes out of existence when the purpose for which it was selected has been accomplished

SESSIONS, LENGTH OF In accordance with the Florida Constitution, a regular session of the Legislature shall not exceed 60 consecutive days and a special session shall not exceed 20 consecutive days, unless extended beyond such limit by a three-fifths vote of the members voting of each house. During such extension, no new business may be taken up in either house without the consent of two-thirds of its membership

STANDING COMMITTEE A standing committee is created by rule with 28 continuing authority to consider matters within its subject field, including bills filed by members of the houses. The name of the committee usually indicates its policy jurisdiction

STATUTES Acts that amend or create law are compiled, edited, and published annually in the Florida Statutes. The Law Revision Division of the Legislature edits and publishes the Florida Statutes following each regular session. Sets of the Florida Statutes may be purchased from Law Book Services at www. flalegistore.com and viewed online at www.leg.state.fl.us

TITLE The Florida Constitution requires each bill to be prefaced by a concise statement of its contents. This statement is known as the “title.” The Florida Supreme Court, in 1983, defined three types of title: the caption title (i.e., “SB 83”); the short title, (i.e., “An act relating to the possession of controlled substances”); and a full title which may be lengthy. The court held that each of these met the requirements of the Constitution for readings

TRAIN A bill relating to a single subject, but combining many aspects. The legislative train often combines the good and the bad for individual legislators as well as the Governor

©Royal A. Brown III. All rights reserved.

Enough Is Enough

Francis X. Maier: The media revel in trashing the Catholic Church for its patterns of clergy sexual abuse but are in denial that the overwhelming majority of abusers are gay.


A number of lessons can be drawn from a recent Washington Post story.  On March 9, the Post published a nearly 4,000-word story on the work of Catholic Laity and Clergy for Renewal (CLCR), a nonprofit based in Colorado.  CLCR meticulously – and legally – collected publicly available data on clergy usage of Grindr and other hetero and same-sex hookup dating apps.  It then provided the information to bishops for corrective action.  Similar data reported on by The Pillar forced the resignation of former USCCB general secretary, Msgr. Jeffrey Burrill.

In the Latin rite, diocesan priests make a promise of celibacy.  Religious community priests take a vow of chastity.  The intended result is the same:  The priest commits himself to refrain from sexual relations.  It’s a sacrifice that, properly lived, frees him to devote his life to the service of Jesus Christ, the Church, and her people.  It’s not an easy path.  But having worked in diocesan service for twenty-seven years, twenty-three of them as senior aide to a bishop, I saw again and again the admirable integrity of most priests – the great majority of priests – in living out their commitment faithfully.

And yet the priesthood, just like the laity, is peopled by humans; and humans are creatures with flaws.

The theme of the Post story is familiar: A “secret effort” by “a newly empowered American Catholic right-wing” and “anti-LGBTQ vigilantes” is resulting in “the character assassination” of private individuals.  So a few observations are in order.

First, in a marriage, the man or woman who commits adultery betrays the covenant he or she freely made, and in doing so, lies.  In like manner, the priest who betrays his promise of celibacy violates the trust of the community to which he publicly committed himself.  He lives an ongoing falsehood.  The betrayed party or parties have every right to know they’re being betrayed.

Second, sexual integrity involves more than refraining from illicit genital relations.  It demands a clean spirit and worthy conduct.  Married men who hang out in strip bars, surf porn sites, and use adultery apps behave indefensibly.  Claiming a “right to privacy” in such cases belongs in a Comedy Club act.  Priests who use apps like Grindr do so in a manner not typically related to preaching the Gospel.  They have no excuse for the consequences.

Third, while we’re on the subject of privacy: It no longer exists.  We already live in a surveillance state.  Unlike China, we’ve created it voluntarily.  We still have laws that mitigate the worst online abuses and prevent, so far, the emergence of a tech-enforced social credit system.  But federal authorities and many corporations already have, or can easily get, everything they need to know about my – and your – private life, beliefs, preferences, appetites, and behavior patterns.  I gave it all away, freely (if unthinkingly) with the everyday applications I use on the internet for work, shopping, news, and similar activities.

Four years ago I noted here that:

For all the elevated talk about our American “right to privacy,” the world we actually live in has a bottomless appetite for commerce. And that appetite includes our intimacies and seeks to relentlessly monetize every element of life.  Almost anything we do on a computer or cell phone, no matter how embarrassing or sensitive, leaves an exploitable record that is difficult to expunge. . .

Privacy (despite corporate assurances) can never really be guaranteed. Grindr users enter a localized and identifiable market for commoditized same-sex interactions. The app company watches those interactions and learns. Foreign states aren’t the only entities with an appetite for these data. Nor are they the only ones with the skill and intent to collect and capitalize on them.

If government officials with “secret” lives can be blackmailed, humiliated, destroyed, or simply exposed, why not Hollywood celebrities, star athletes, university presidents, corporate board chairs, and clergy and religious leaders – like denizens of the Vatican and its diplomats? Let that sink in. None of this involves excessive imagination or anxiety. It can happen right here, right now. Sooner or later, it likely will. Little in the digital age is truly hidden.

Fourth, on the matter of “anti-LGBTQ vigilantes” and “character assassination”:  People on Grindr and similar apps assassinate their own characters.  No one else is responsible.  And the last time I checked, Catholic teaching (not to mention Scripture) regards same-sex genital relations and related behavior as gravely wrong and disordered.  As Augustine said, we have the obligation to love the sinner, but also to hate the sin.  There’s nothing at all “vigilante” about lay Catholics – men and women who seek to live their faith honestly – insisting that their priests live by the same religious convictions they preach to the people in their care.

Fifth, for the last ten years we’ve been lectured by supporters of the current pontificate about the destructive legalism and fine-point nitpicking of  “doctors of the law” in the Church.  So it’s just a bit weird for the Post to invoke canon lawyers in suggesting that “simply having Grindr on a phone, as a priest, is not against the Sixth Commandment.”  Technically?  Maybe.  Morally?  No.

Sixth and finally, the overwhelming majority of abusers in the clergy abuse scandal were homosexual men.  Thus the hypocrisy of the Post in its March 9 report – a news organization that reveled in trashing the Catholic Church for its patterns of clergy sexual abuse – is thick enough to rival the Antarctic ice pack.  Illicit homosexual behavior in the priesthood has no claim to “privacy”. . .or moral integrity.

The priesthood deserves our gratitude and respect, but not our blindness.  CLCR’s goal was to work cooperatively and confidentially with bishops to address a real issue in many current dioceses.  The need for the data collected by CLCR is humiliating and regrettable.  But the findings are too important to ignore, and dismissing them on specious “privacy” grounds only compounds the problem.  At this point, enough is enough.

You may also enjoy:

David Carlin’s An Encyclical on Homosexuality?

Brad Miner’s Nothing to Do with Homosexuality?

AUTHOR

Francis X. Maier

Francis X. Maier is a senior fellow in Catholic studies at the Ethics and Public Policy Center.

EDITORS NOTE: This The Catholic Thing column is republished with permission. All rights reserved. © 2023 The Catholic Thing. All rights reserved. For reprint rights, write to: info@frinstitute.org. The Catholic Thing is a forum for intelligent Catholic commentary. Opinions expressed by writers are solely their own.

Mr. President, Fire Your Woke Minions And Appoint Some Competent People

The failure of three banks in the last two weeks, including Silicon Valley Bank on Friday and Signature Bank on Sunday, is a saga of utter government incompetence. Call these bank collapses Biden’s Banking Busts. The Biden administration has been obsessing on woke causes while banks teeter toward insolvency.

Three days before Silicon Valley Bank collapsed, Treasury Secretary Janet Yellen cautioned that climate change puts the banking industry at risk. Yellen was in la-la land, speculating that future storms and tornadoes could diminish the value of banks’ assets.

Weather is a risk, but she was oblivious to the much more immediate problem facing banks — the plummeting value of the bonds they own. She was heedless to the impending downfall of SVB and possibly several other small banks that had purchased long-term bonds when interest rates were near zero.

In 2022, after doing nothing to tame inflation the previous year, the Federal Reserve hiked rates repeatedly to make up for their previous inaction. Those rapid rate hikes, the most drastic in decades, made the banks’ bonds lose value.

A week before Yellen’s climate change harangue, Moody’s Investors Service already had delivered bad news to SVB that it was about to be downgraded several notches because its inventory of bonds was not worth enough to repay depositors. A day before Yellen’s loony speech, Federal Deposit Insurance Corp. Chairman Martin Gruenberg also cautioned that the diminishing value of the bonds held by banks meant a $620 billion problem ahead.

The Office of the Comptroller of the Currency, a part of Yellen’s Treasury, is responsible for examining the financial condition of banks. It failed to avert the SVB collapse.

Yellen has been an outspoken activist for climate change, women’s rights and diversity, including appointing the Treasury’s first ever racial equity officer. Apparently, the hordes of bureaucrats working under her are also too busy with diversity, equity and inclusion seminars to prevent banks from failing.

As the SVB crisis unfolded, Yellen was MIA. Now she says she’s monitoring several banks “struggling with the whiplash in prices” of their bonds.

Financial experts warn smaller banks are in for a rough ride, though the big banks like JPMorgan Chase, Bank of America, Wells Fargo and others are not apt to be in trouble.

Admittedly, SVB’s managers made mistakes. Banking’s first rule is that assets should match deposits. If depositors can demand their money back anytime, then using their money to buy long-term bonds is risky. SVB had to sell $21 billion worth of bonds at a fire sale, taking a $1.8 billion loss.

Trading was suspended Friday in the stocks of several small banks whose share prices plunged on fears they were in the same situation. On Sunday, New York bank regulators shut Signature Bank.

President Joe Biden created the perfect storm for what may become a string of banking busts. In 2021, he lied about inflation, saying it was temporary and “no serious economist” considered it a threat. Yellen and Federal Reserve Chairman Jerome Powell, whose first term was about to expire, went along with Biden and did nothing to bring down prices. It was the single biggest monetary policy mistake in half a century.

Then in March 2022, newly reappointed Powell launched aggressive rate hiking to cure what the Wall Street Journal called “a mess largely of the Fed’s own making.” As rates rose fast, startup companies could no longer afford to borrow, and instead started withdrawing their bank deposits. Without regulatory intervention, the downfall of SVB was almost a foregone conclusion.

On March 7, Powell predicted that the Fed will likely “increase the pace of rate hikes” to continue bringing down inflation. A task made more difficult by our spendaholic president’s budget proposal, which is an inflation accelerator.

As rates rise, more banks could be in trouble. Continued government incompetence is not an option.

Mr. President, get rid of your woke minions and appoint competent people. Our money and jobs are at stake.

On Sunday night, Biden said he’s “firmly committed to holding those responsible for this mess fully accountable.” Look in the mirror, Mr. President.

Instead, he’s looking at the list of Democratic campaign donors and scurrying to bail them out. Ninety-eight percent of all political contributions from people who worked at internet companies went to Democrats in 2020. Silicon Valley residents coughed up nearly $200 million for Democrats. No surprise that the Treasury and the Fed are offering bailouts, whether they use that word or not.

Biden’s reckless spending and incompetent monetary policy are causing this string of banking busts. And John Q. Public will end up paying one way or another.

COPYRIGHT 2023 CREATORS.COM

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

AUTHOR

BETSY MCCAUGHEY

Betsy McCaughey is a former lieutenant governor of New York and chairman of the Committee to Reduce Infection Deaths. Follow her on Twitter @Betsy_McCaughey. To find out more about Betsy McCaughey and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com. McCaughey is the author of “Beating Obamacare.”

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.


All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

How the Democrats Bake Systemic Fraud Into Our Elections

Last week, I told you about individual wrongdoers – mostly Democrats – who were arrested and sent to jail for voter fraud.  But criminal wrongdoing in our elections is also perpetrated – again, mostly by Democrats – by election officials, Democrat and left-wing advocacy groups, and other systemic players engaged in wholesale fraud.

Starting with election officials, a Republican county elections commissioner in New York was charged with 12 felony counts of using other people’s identifications to request, complete, and submit absentee ballots.  A Democrat township clerk in Michigan who was also a candidate was convicted of felony ballot tampering for opening a sealed ballot canister, invalidating the votes inside.  The Democrat New Mexico Secretary of State is accused of unlawfully receiving county election totals before counties certify results and using an uncertified software program to add up the totals.  Elections officials in Oakland, California are accused of ignoring a court order, unsealing ballot boxes without public observation, and making it impossible for citizen observers to monitor and understand the vote tallying process.

Lawless election officials are not the only source of systemic wrongdoing in our elections.  Left-wing and Democrat advocacy groups are major sources, as well.  The Virginia Democratic Party ballot harvesting manual instructs party activists to include dead people and bad addresses when compiling voter contact lists.  This information goes into a party database which is used to target likely Democrat voters.  The Democrat Party did not respond when asked about this.

Left-leaning nonprofits like the Center for Voter Information and the Voter Participation Center are abusing their 501(c)(3) tax status by registering likely Democrat voters.  Targeting particular demographic groups likely to vote Democrat skirts IRS rules preventing tax-exempt organizations from engaging in partisan activity.

In Wisconsin, a leftist group paid voters $250 if they succeeded in persuading their friends to vote for the Leftist candidate in the state Supreme Court race.  Under state law, it is felony bribery to give anything of value to any person for inducing others to vote or not vote for or against particular candidates.

The Federal Election Commission received but has ignored information about campaign ‘money mules’ operating in Missouri, Georgia, and elsewhere.  Democrat Senator Raphael Warnock of Georgia was the top beneficiary identified in the scheme.  To give you some idea of how the scheme works, ‘Steven in Missouri’ was somehow able to make over 14,000 campaign donations totaling $180,000 in two years despite being unemployed.  Something’s not right with this picture.

Yet more systemic election fraud is found in a Florida county where felons vote illegally, dead voters are sent mail-in ballots, voter addresses are changed without request, and individuals are putting multiple ballots into drop boxes despite being limited under state law to two.  This information came from a whistleblower inside an elections office who was upset these problems were not being addressed.  The office is run by a Democrat and would not respond to questions.

Here is one more way systemic fraud can occur:  County officials can change the zip code of tens of thousands of voters all at once.  Mail ballots go out, but the ones with the wrong zip code are undeliverable.  Someone scoops them up, then the elections office changes the zip codes back.  Voters go to the polls, only to be told they already voted, their ballot has already been cast by somebody else.  A new data company uncovered this kind of fraud in Wisconsin and Florida, including one county where more than 31,000 zip codes were changed this way.  The company bought daily voter rolls and tracked zip code changes, discovering how the game is played.

We are supposed to have representative government in this country.  But we cannot be assured of true representation unless systemic fraud, perpetrated mostly by Democrats, is rooted out from the elections process.

©Christopher Wright. All rights reserved.

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BIDEN BANK CRISIS: Dow Plunges 700 Points, ‘First Domino To Drop’

Stock indexes are on pace for one of their worst days this year.
Woke and broke. And still Biden and the Democrats are pushing, legislating and imposing these fatal polices.

This is the poison fruit of the diversity, equity and inclusion hiring practices that elevates whining whiners and demonizes talent, intelligence and skill.

Life was golden under Trump.

Dow Plunges 700 Points As BlackRock Chief Warns SVB Collapse Merely ‘First Domino To Drop’

By: Derek Saul

U.S. stocks plunged in Wednesday trading as concerns about the health of the global banking industry continued to weigh on the market, with one high-profile Wall Street bigwig cautioning the contagion of Silicon Valley Bank’s failure could spread further than previously anticipated.

Key Facts

The Dow Jones Industrial Average fell 717 points, or 2.2%, by 1 p.m. ET; the S&P 500 and tech-heavy Nasdaq similarly slid 2% and 1.4%, respectively.

The domestic losses come amid broad declines in stocks abroad, with the Zurich-based bank Credit Suisse’s 24% slide to a record low in share prices amid capital concerns headlining the losses.

Also stoking concerns about the fallout of Silicon Valley Bank, Signature Bank and Silvergate Capital’s recent closures was a bleak letter from Blackrock CEO Larry Fink warning the failures could simply be the first “domino[es] to drop” before a potential “cascade throughout the U.S. regional banking sector with more seizures and shutdowns coming.”

Regional bank stocks captained Wednesday’s sinking ship, with share prices of PacWest sinking 20% and First Republic dropping 23%.

Keep reading.

AUTHOR

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BIDEN’S ECONOMY: Silicon Valley Bank COLLAPSES Following Run on Bank, 2nd Biggest Bank Failure In United States History

Our Cultural Whitewashing

Not too long ago Mr. Potato Head was in trouble. In a day when even a sitting Supreme Court justice claims not to know how to define a woman, the hubris of calling any toy “Mr.” is just too much for our present culture.

Even Piers Morgan was upset about this tempest-in-a-teapot because the “Mr.” part of Mr. Potato Head was “unsetting a few wokies.”

Giving in to wokeness is one thing. Sensitivity to others is another. LEGO announced some new additions to their lineup of toys.

Dailymail.com wrote recently, “LEGO, which recently unveiled a range of new characters, with a range of skin tones and nationalities, several of whom have disabilities, has revealed…the details of each of these characters. The new generation of Lego friends are a diverse bunch, representing a multitude of backgrounds and lived experiences.”

One can understand being sensitive to others, as in the LEGO example. But often the woke revolution goes too far.

Even children’s literature today is unsafe. Dr. Seuss has been banned by some, and even the late, beloved children’s writer, Roald Dahl, author of Charlie and the Chocolate Factory and James and the Giant Peach, recently came under fire. He almost had hundreds of changes posthumously made to his books.

Thankfully, after the uproar against the attempted bowdlerizing Dahl’s works, Random House decided to continue to make available the books as Roald Dahl wrote them—while still offering the new, edited, sanitized versions.

About 25 years ago, I paid good money to the estate of Roald Dahl to use portions of his classic Charlie and the Chocolate Factory in a book of short stories I compiled.

My book, The Moral of the Story, published by Broadman & Holman (1996, now out of print), included selections from various stories that helped illustrate the nefarious nature of the Seven Deadly Sins. They are Pride, Greed, Envy, Anger, Lust, Gluttony, and Sloth. The Bible condemns each of these sins. But would today’s culture perhaps make each of them a virtue?

Portions of Dahl’s Willy Wonka story were perfect for the section of my book dealing with gluttony. Dahl cleverly exposed the pitfalls of eating “beyond one’s seams,” including one boy named Augustus Gloop, that “nincompoop.” Dahl called him “fat.” The modern censors tried to change that and other offensive details.

In the famous scene I was able to reproduce, some fortunate children win a special visit to Willy Wonka’s magical chocolate factory. While on the tour, Augustus Gloop is unable to resist the temptation to get down on the banks of a magic chocolate river and lap as much of it as he can, like a dog.

Wonka and Gloop’s parents warn Augustus against doing this. “But Augustus was deaf to everything except the call of his enormous stomach,” writes Dahl. And then Augustus Gloop experiences humiliating punishment for his gluttony.

Part of the impulse to “clean up” Dahl’s writings is to make sure that people wouldn’t be offended.

But who knows how many children might have been warned into avoiding a life of excessive overeating and the consequent deleterious effects on health that flow from it? God warns against gluttony and other sins because they are harmful for us.

With our cultural revolution, which can’t tell men from women, if you say that some behavior someone engages in is wrong, you might hurt their feelings. Well, there is a Constitutional freedom of speech. But there’s not a Constitutional right to not be offended. Besides, hurt feelings might actually lead to needed changes.

The Bible is frank about man being sinful. The founders of America acknowledged that reality and created the most durable governing document in history, the U.S. Constitution, because it conforms to the empirical reality that we are sinful.

John Adams, a key founding father, commented on man’s sinful nature by observing that those in power tend to become like “ravenous beasts of prey.” Thus, the founders separated power so that no one group could lord it over the others.

The Scriptures say that we have all have sinned and fallen short of the glory of God. They also explain how God forgives sin for those who repent and call on Jesus who died for sinners and rose again from the dead.

However, in our post-Christian society, there is a major push to make everything woke—even by whitewashing classic children’s literature. Where does it all stop? When can children be children again?

When can sin be viewed as sin again? Isn’t it better to admit wrongdoing than to try to redefine what is wrong in the first place? There are moral standards that come from beyond ourselves. As Cecil B. De Mille once noted, “We cannot break the Ten Commandments. We can only break ourselves against them.” Thus, endeth my Lenten meditation.

©Dr. Jerry Newcombe. All rights reserved.

BLM Movement Received Nearly $83 Billion from Corporations

The Black Lives Matter (BLM) domestic terror and black supremacist movement has received a jaw-dropping $82.9 billion from corporations, according to a new funding database from the Claremont Institute.

The Claremont Institute’s Center for the American Way of Life asserted in an article in Newsweek that the 2020 BLM movement was about more than just “rioting and destruction.”

The Center explained that “The BLM pressure campaigns, harassment, and moral blackmail also amounted to possibly the most lucrative shakedown of corporate America in its history.”

“As a point of reference, $82.9 billion is more than the GDP of 46 African countries. In 2022, the Ford Motor Company’s profits were $23 billion,” they noted. The sum of $82.9 million includes “more than $123 million to the BLM parent organizations directly,” as well as much more to other organizations supporting BLM’s agenda.

The list reveals that several popular corporations from a wide range of different industries supplied the movement with large sums of cash. Walmart, for example, which is based in Arkansas, gave a whopping $100 million in support of BLM and related causes focusing on “racial equity.” Amazon gave even more, supplying the movement with an astonishing $169.5 million. Silicon Valley Bank gave the movement $73.45 million.

Meanwhile, the pharmaceutical company Abbvie gave the movement over $62 million in funding. Allstate gave $7.7 million to the cause and American Express gave $50 million. Apple gave $100 million while AT&T gave $21.5 million. The movement and its causes received another $90 million from Nike.

United Airlines, JetBlue, Southwest Airlines, and Delta Airlines all gave money to BLM and related causes as well.

Bank of America, meanwhile, provided $18.25 million to BLM and related causes while Wells Fargo diverted $210 million towards BLM and related causes. Deloitte gave $85 million to BLM and related causes.

Asset management giant BlackRock put a shocking $810 million towards BLM and related causes, while other powerful financial institutions also bankrolled the movement, with Capital One Financial giving $10 million, Morgan Stanley giving $30 million, US Bank giving $160 million, and Goldman Sachs giving $10.1 million.

Meanwhile, Prudential Financial supplied the movement and its related causes with a sum of $450 million but was outdone by Mastercard, which gave $500 million.

The database found that Boeing gave $15.6 million, while Northrop Grumman gave $2 million and Raytheon gave $25 million.

The Walt Disney Company gave $8.8 million to BLM and related causes while the Pokémon Company gave $200,000.

The Claremont Institute’s Center for the American Way of Life also explained how the funds have been used, remarking that

The Global Network is investing tens of millions of dollars to support future operations, purchasing luxury real estateengaging in nepotism, disbursing grants to dozens of BLM chapters and revolutionary organizations, and operating a PAC to “elect progressive community leaders, activists, and working-class candidates fighting for Black liberation.”

Meanwhile, “Local BLM chapters are spending millions on activism and initiatives to defund police departments” and “BLM At School is indoctrinating children around the country in critical race theory and queer theory, teaching them to hate themselves, their peers, and their country.”

“Left-wing nonprofits are effecting wholescale societal change too radical for normal legislative avenues, constituting a form of shadow governance,” they went on to note.

The agenda has also seeped into the financial industry’s loan operations, the Center explains, pointing out that “banks are issuing billions of dollars in subprime loans ‘to help end systemic racism,’” all while “corporations are funding leftist bail funds that release violent rioters and criminals onto our streets and collaborating to create racialized, anti-meritocratic hiring schemes.”

The shakedown “may be viewed as a form of reparations made to self-declared enemies of the American nation and way of life,” they added.


Black Lives Matter (BLM)

177 Known Connections

BLM Activist Says Looting Is a Form of Reparations

In August 2020, BLM activists in Chicago held a rally to express their solidarity with the 100+ individuals who had recently been arrested after a night of mass looting and criminal activity. One BLM organizer who spoke at the rally, Ariel Atkins, said: “I don’t care if someone decides to loot a Gucci or a Macy’s or a Nike store, because that makes sure that person eats. That makes sure that person has clothes.” “That is reparations,” she continued. “Anything they wanted to take, they can take it because these businesses have insurance.” In a similar spirit, In a similar spirit, a social media post for the rally encouraged people to come out and “support the people arrested last night for protesting another police shooting & taking reparations from corporations.”

To learn more about Black Lives Matter, click here.

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EDITORS NOTE: This Discover the Networks column is republished with permission. ©All rights reserved.

Jesus Revolution Producer: ‘I’ve Never Seen Such a Profound Response to a Movie’

Jon Erwin happened to be doing research for another movie when he stumbled on the iconic cover of Time Magazine from June 21, 1971. A copy in good condition goes for about $2,000 on eBay today, but Jon managed to snatch one up in 2015 — years before his movie made the psychedelic Jesus a collectors’ item. Back then, making a film about the 1970s revival known as The Jesus Revolution was a distant dream. Today, it’s a blockbuster reality — one that continues to exceed everyone’s expectations, in the box office and real life.

The news that “Jesus Revolution” crossed the $39 million mark this past weekend may have been a shock to Hollywood, but to Erwin — the movie’s writer, producer, and director — it was further proof that he’d happened upon something special eight years ago. He’d been working on another true story, “Woodlawn,” when he was “awestruck” by the parallels between the hippie movement’s desperation and the desperation of today.

“I’m a filmmaker. I’m curious by nature,” he told Family Research Council President Tony Perkins on “Washington Watch.” “And so I read this article. At the time, you couldn’t find it online. It was this 10-page spread about what God was doing at an incredibly similar time of hopelessness and despair. … And the more I read, the more I felt: Can this happen in my generation? Can this happen in my life?” At 40, Jon said, “nothing like this has ever happened to us.” “And the more I studied it the more I wanted to make a movie.”

Erwin was set to make “I Can Only Imagine” next, based on MercyMe lead singer Bart Millard, with other true stories like “I Still Believe” (Jeremy Camp) and “American Underdog” (Kurt Warner) on the horizon. Carving out time for another project was tricky. By the time “Jesus Revolution” was released, it was the longest he’d ever worked on a movie.

But in the end, Jon pointed out, it was a testament to “God’s perfect timing.” “That the movie came out as revivals are happening around the nation is so cool. And I love all the movies that we’ve gotten to make, but I’ve never seen such an incredibly profound response to a movie and, and lives changed as people watch it. So it’s a privilege to get to bring this movie to the screen.”

A stellar cast, led by Kelsey Grammar (“Fraser”) and Jonathan Roumie (“The Chosen”), team up to reach a 70s generation that’s trying to find meaning in sex, drugs, and rock and roll. Despite his initial reluctance, Pastor Chuck Smith’s (Grammar) stodgy church is overtaken by barefoot hippies who follow evangelist Lonnie Frisbee’s (Roumie) invitation to stop searching and give their lives to Jesus.

The movement explodes, packing out Southern California’s Calvary Chapel and eventually moving to a big white tent where thousands come to know Christ, including Greg Laurie (Joel Courtney), who wrote the book the movie is based on. Laurie’s incredible story, from a tragic childhood to a spiritual awakening that led him to found Harvest Christian Fellowship, has resonated with audiences and critics (who gave the film an A+ CinemaScore rating).

For Erwin, one day in particular stood out. “[It was] by far the favorite moment I’ve had on set — and I think you feel it in the movie. You know,” he told Perkins, “it takes several miracles to make a movie. But I’ve never felt a day like the day we shot the baptisms in this movie. We thought it was very important to go back to the real Pirate’s Cove [where Smith and Frisbee baptized so many people]. And we did. And for a film, that is a very difficult place to go. It’s like a crater, very jagged rocks. You have to go up and over to get onto that location. … [But] I’ve never felt anything like it. We all felt it that day. There was a level of spiritual power there that I’ve never experienced in my filmmaking career before.”

At one point, they were filming with about 400 extras, and Roumie “came up out of the water and said, ‘This is real for people. … People are coming up to me and saying, I want to be baptized for real. I’ve just made a decision for Christ.’”

While they were shooting the part with actor Joel Courtney in the water, Jon said he was stunned to find out that “the real Greg Laurie was baptizing a member of the cast that he had struck up a conversation with a couple hundred feet away and none of us even knew [about it]. … I think you feel it when you watch the movie. But the power that is in the movie we felt on that day.”

Grammer, arguably the most well-known cast member, hasn’t been shy since the film’s release about the role faith plays in his life. “I’ve had some tragic times,” he admitted in an interview with USA Today. “I’ve wrestled with those and worked my way through them — sometimes rejecting faith, sometimes rejecting God even… But I have come to terms with it and found great peace in my faith and in Jesus.” If Hollywood doesn’t like it, Grammar shrugs. “It’s not cavalier — Jesus made a difference in my life. That’s not anything I’ll apologize for.”

In the meantime, Erwin still marvels at the impact the film is having. He’s seen videos of people praying outside the movie, or getting baptized in fountains outside the theaters — or in lakes the next day. “Not many people know this,” he told Perkins, “but 1972, which was the culminating year of the Jesus Movement was the most baptisms ever recorded in a single year, at least by the Southern Baptists. So wouldn’t it be cool if that happened again and we beat that record?”

AUTHOR

Suzanne Bowdey

Suzanne Bowdey serves as editorial director and senior writer at The Washington Stand.

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EDITORS NOTE: This Washington Stand column is republished with permission. All rights reserved. ©2023 Family Research Council


The Washington Stand is Family Research Council’s outlet for news and commentary from a biblical worldview. The Washington Stand is based in Washington, D.C. and is published by FRC, whose mission is to advance faith, family, and freedom in public policy and the culture from a biblical worldview. We invite you to stand with us by partnering with FRC.

Adolf Hitler Came to Power 92 Years Ago When The German Banks Collapsed. Is History Repeating Itself?

“Those who cannot remember the past are condemned to repeat it.” — George Santayana

“History repeats itself, but in such cunning disguise that we never detect the resemblance until the damage is done.” — Sydney J. Harris

“If history repeats itself, how incapable must man be of learning from experience.” — Karl Marx


Is history repeating itself?

Banks and the rise of Adolph Hitler

In a March 19, 2019 Vox EU article titled How failing banks paved Hitler’s path to power: Financial crisis and right-wing extremism in Germany, 1931-33 José-Luis Peydró, Hans-Joachim Voth and Sebastian Doerr asked,

Can financial crises fan the flames of fanaticism?

[ … ]

In a new study, we provide such evidence for the canonical case of Germany during the 1930s (Doerr et al. 2019). The country saw one of the worst depressions on record, with output contracting by more than a quarter, and sky-rocketing unemployment. Germany’s slump was aggravated by a severe banking crisis in the summer of 1931, which helped turn an ordinary recession into the Great Depression (Figure 1). The crisis was triggered by the collapse of Danatbank, one of Germany’s four big universal banks. Following a Central European banking crisis that had begun in Austria in May, German banks experienced deposit withdrawals. Danatbank itself faced unsustainable losses when one of its borrowers, a large textile firm, defaulted due to fraud and bad luck. The ensuing bank run led to a suspension of bank deposits, the failure of another bank, Dresdner, and a three-week bank holiday with Germany’s de facto exit from the gold standard. Both external and domestic factors, combined with political inactivity because of repayments (due to political conflict between Germany and France over reparations), turned Danatbank’s troubles into a full-blown financial crisis (Ferguson and Temin 2003, Born 1967, Schnabel 2004).

[ … ]

A rich and growing literature has shown that financial crises have real economic effects. Firms connected to banks in trouble perform worse, and the more so if they need external financing (Ivashina and Scharfstein 2008, Campello et al. 2010). Local economies exposed to firm-specific financial shocks suffer economically (Huber 2018). What has been missing in the literature on ‘real effects’ of financial crises is a clear link between financial shock and political catastrophe. Our new study documents such a link for one key historical episode – a financial shock increased support for a radical agenda that successfully blamed a minority for the general population’s misery.

Read the full article.

Capital DE’s Christian Schütte in an article titled How the bank crash promoted the rise of the Nazis in 1931 wrote,

The German banks collapsed in the summer of 1931. The global economic crisis turned into a severe recession. A dictatorship from a shaky democracy.

[ … ]

Only a year and a half later the new Chancellor was called Adolf Hitler.

Did Hitler nationalize the German banks? No, he said there was no need to nationalize banks and industries when he had already nationalized the people (into the military). He gave huge military contracts to industries and they couldn’t be happier.

‘Rapid Deterioration’ as Moody’s Rating Service Downgrades U.S. Banking System

Spencer Brown | Townhall March 14, 2023 wrote,

Following the biggest bank failure since the financial crisis of 2008, Moody’s Investor Service has downgraded its rating of the “U.S. banking system” in the latest sign that President Biden’s Monday morning attempt to assuage concerns went over like a lead balloon.

Moody’s cuts outlook on entire U.S. banking system to negative, citing ‘rapidly deteriorating operating environment’ – CNBC

Moody’s — one of three major rating entities — downgraded its outlook for the U.S. banking system from “stable” to “negative” on Tuesday morning “to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and the failures of SVB and SNY,” Moody’s explained.

In addition to downgrading the entire banking system, Moody’s also issued warnings for several individual banks “with substantial unrealized securities losses and with non-retail and uninsured US depositors” that “may still be more sensitive to depositor competition or ultimate flight” and end up “with adverse effects on funding, liquidity, earnings and capital.”

The unrealized losses, specifically, have become substantial:

View FDIC Unrealized Gains (Losses) on Investment Securities infographic.

The specific institutions being monitored by Moody’s for “potential downgrades” include INTRUST Financial, Western Alliance, Comerica, Zions Bancorp, and First Republic.

Markets, however, did not seem to move much on the news.

Moody’s just cut its outlook on U.S. banking system to negative due to ‘rapidly deteriorating operating environment’

Keep reading.

Nationalizing American Banks

Roger Altman, the former Deputy Treasury Secretary in the Clinton administration, told CNN host Kaitlan Collins,

What the authorities did over the weekend was absolutely profound. They guaranteed the deposits, all of them, at Silicon Valley Bank. What that really means — and they won’t say it, and I’ll come back to that — what that really means is that they have guaranteed the entire deposit base of the U.S. financial system. The entire deposit base.

Watch the interview with Roger Altman.

Federal regulators shut down Silicon Valley Bank (SVB) Friday after its stock price collapsed and customers began a bank run following the financial institution’s disclosure of a $1.8 billion loss on asset sales due to high interest rates, CNBC reported.

America is now in a situation in which the federal government is in the process seizing control of the banks. This is the final economic step to tyranny.

We know that the Biden administration has expanded its government powers, conducted surveillance on U.S. citizens, colluded with social media to censor its political enemies and arrested and imprisoned those who peacefully demonstrated on January 6th, 2021.

The nationalization of our banks may be the last nail the Constitutional Republic.

It may also be the last nail in our economic freedom.

©Dr. Rich Swier. All rights reserved.

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‘Non-Binary Climate Change Activist’: Tucker Carlson Mocks Left-Wingers In New Twitter Bio

Fox News host and Daily Caller co-founder Tucker Carlson mocked left-wing elitists and activists in his newly updated Twitter bio Tuesday.

Carlson’s updated Twitter page describes him as a “non-binary climate change activist of color,” as well as a “visionary tech founder” and “CNBC market analyst,” and an “informal” advisor to Ukrainian President Volodymyr Zelenskyy. The description then ends with two transgender flag emojis.

“Non-binary climate change activist of color. Visionary tech founder. CNBC market analyst. Informal Zelensky advisor,” the account reads.

The Daily Caller co-founder originally mocked liberals on his Twitter account, which has 5.8 million followers, by labeling himself “fully vaccinated” and listing his pronouns as “They/Theirs” next to an emoji of the Ukrainian flag. He also described himself as an “Emmy-award-winning broadcast journalist, graduate of Harvard College & Yale Law School” and a “frequent visitor to the Aspen Inst.”

Carlson previously said he created the first social media mockery over his anger toward the House vote to send $40 million in military and humanitarian aid to Ukraine. The most-watched Fox News anchor has repeatedly criticized Congress and President Joe Biden’s administration for aiding Ukraine and Zelensky as the U.S.-Mexico border remains in an ongoing crisis.

“That Ukraine vote made me so mad, I’m desperate to amuse myself,” he said in May.

AUTHOR

NICOLE SILVERIO

Media reporter.

RELATED ARTICLE: ‘They Control Your Brain’: Tucker Argues The Left Uses The ‘Trans Movement’ To ‘Censor’ People

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.


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Former Treasury Official Says U.S. Banks On Verge Of ‘Nationalization’

A former Treasury Department official said Tuesday that American banks were on the verge of being nationalized following the Friday collapse of Silicon Valley Bank and the government’s response.

“What the authorities did over the weekend was absolutely profound. They guaranteed the deposits, all of them, at Silicon Valley Bank. What that really means — and they won’t say it, and I’ll come back to that — what that really means is that they have guaranteed the entire deposit base of the U.S. financial system. The entire deposit base,” Roger Altman, a former deputy Treasury secretary in the Clinton administration, told CNN host Kaitlan Collins. “Why? Because you can’t guarantee all the deposits in Silicon Valley Bank and then the next day say to the depositors, say, at First Republic, sorry, yours aren’t guaranteed. Of course they are.”

WATCH:

Federal regulators shut down Silicon Valley Bank Friday after its stock price collapsed and customers began a bank run following the financial institution’s disclosure of a $1.8 billion loss on asset sales due to high interest rates, CNBC reported. Depositors who had accounts at Silicon Valley Bank and Signature Bank, which was shut down by regulators Sunday, will be able to fully recover their funds, the FDIC announced Sunday in conjunction with the Treasury Department and the Federal Reserve.

“So this is a breathtaking step which effectively nationalizes or federalizes the deposit base of the U.S. financial system. You can call it a bailout, you can call it something else, but it’s really absolutely profound,” Altman continued. “Now, the authorities, including the White House, are not going to say that because what I just said of course implies that they have just nationalized the banking system. Technically speaking, they haven’t. But in a broad sense, they are verging on that.”

When Collins called Altman’s statements “remarkable,” Altman emphasized that he had not said the banks had been nationalized.

“I said they are verging on that because they have guaranteed the entire deposit base. Usually the term nationalization means that the government takes over the institution and runs it and the government owns it,” Altman explained. “That would be the type of nationalization we have seen in many other countries throughout the world. Obviously, that did not happen here. When you guarantee the entire deposit base, you have put the federal government and the taxpayer in a much different place in terms of protection than we were in a week ago.”

AUTHOR

HAROLD HUTCHISON

Reporter.

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‘Rapid Deterioration’: Moody’s Rating Service Downgrades U.S. Banking System

It’s coming down fast, folks. Literally and figuratively.

Biden voters have destroyed this country.

‘Rapid Deterioration’: Major Rating Service Downgrades U.S. Banking System

By: Spencer Brown | Townhall March 14, 2023 12:00 PM

Following the biggest bank failure since the financial crisis of 2008, Moody’s Investor Service has downgraded its rating of the “U.S. banking system” in the latest sign that President Biden’s Monday morning attempt to assuage concerns went over like a lead balloon.

Moody’s cuts outlook on entire U.S. banking system to negative, citing ‘rapidly deteriorating operating environment’ – CNBC

Moody’s — one of three major rating entities — downgraded its outlook for the U.S. banking system from “stable” to “negative” on Tuesday morning “to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and the failures of SVB and SNY,” Moody’s explained.

In addition to downgrading the entire banking system, Moody’s also issued warnings for several individual banks “with substantial unrealized securities losses and with non-retail and uninsured US depositors” that “may still be more sensitive to depositor competition or ultimate flight” and end up “with adverse effects on funding, liquidity, earnings and capital.”

The unrealized losses, specifically, have become substantial:

View FDIC Unrealized Gains (Losses) on Investment Securities infographic.

The specific institutions being monitored by Moody’s for “potential downgrades” include INTRUST Financial, Western Alliance, Comerica, Zions Bancorp, and First Republic.

Markets, however, did not seem to move much on the news.

Moody’s just cut its outlook on U.S. banking system to negative due to ‘rapidly deteriorating operating environment’

Keep reading.

AUTHOR

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EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

WATCH: Biden Says Opposing the Mutilation of Children Is ‘Close to Sinful’

Old Joe Biden appeared on Comedy Central’s The Daily Show Monday night, where the guest host Kal Penn, star of the deathless classic Harold & Kumar Escape from Guantanamo Bay, asked him about same-sex marriage and boys who want to become girls and girls boys. In response, Biden struck a moral tone, suggesting that support for same-sex marriage and the genital mutilation of children in pursuit of delusions and fantasies was simply the decent position to take, and darn it, Lunchbucket Joe didn’t see why it had to be any more complicated than that.

As we have all come to expect by now, Biden lied when he told a story that he has told before about his alleged “epiphany” on same-sex marriage. As Matt Margolis shows here, Biden claims to have begun to support same-sex marriage as a teenager, when he saw two men kissing. This was the 1950s, when no one was talking about same-sex marriage and it was extremely rare to see homosexuals kissing in public, so his story is dubious on its face. But Matt demonstrates that Biden opposed same-sex marriage decades after that, casting his entire “epiphany” into doubt. Old Joe even threw in his patented insistence “I’m not joking,” which he often says when he’s in the middle of telling a lie.

Then, when Biden turned to discussion of today’s fashionable gender madness, the conversation got even worse.

Penn had asked the ostensible president about what the government could do to protect the “trans kids who are dealing with all these regressive state laws that are popping up right now.” Biden replied, “Transgender kids is a really harder dnnnn. Thing. What’s going on in Florida,” and here he paused, shaking his head, weary at the evil of it all, “is, as my mother would say, close to sinful.”

What’s going on in Florida? Last October, the Florida Board of Medicine voted to ban the mutilation of children in the name of attempting to aid them to pretend that they’re of the opposite sex. At a Board workshop on this issue, a woman named Chloe Cole, who had embarked upon the path that she thought would make her a man, described the monstrousness of the procedures involved in abetting these delusions:  “My breasts were beautiful, now they’ve been incinerated for nothing. Thank you, modern medicine. At 13, I started taking puberty blockers and testosterone, and at 15, I underwent a double mastectomy in which my breasts were removed and my nipples were grafted. And yet, at 16, after years of medically transitioning, I came to realize that I severely regretted my transition.”

Woke doctors sold Cole a lie: “During my diagnosis for dysphoria and the consultations for these treatments, the overall picture of my life just went completely unaddressed….I was introduced to inappropriate content and an echo chamber of far-left ideology, such as that sex and gender are separate, women are inherently victims, men are inherently superior in every way, and that dysphoric children need hormones and surgeries in order to live.” This Mengelian manipulation is what Old Joe Biden was saying it’s “close to sinful” to stop.

Old Joe rambled on semi-coherently, claiming to be on the side of the good and loving: “It’s terrible what they’re doing. It’s not like a kid wakes up one morning and says, ‘You know, I decided I want to become a man’ or ‘I want to become a woman’ or ‘I want to change.’ I mean, what are they thinking about here? They’re human beings. They love. They have feelings. They have inclinations that are… I mean, it just, to me, is, I don’t know, is, it’s cruel.” No. What’s cruel is putting children on a path that they think will help them attain their delusions, only to find that it’s impossible for them to discard what they are and become something else.

What’s cruel is Old Joe Biden pretending that any of this butchery and mutilation is compassionate. But he is determined to protect these Frankensteinian, life-destroying procedures by law: he said that we need to “make sure we pass legislation like we passed with same-sex marriage. You mess with that, you’re breaking the law and you’re going to be held accountable.”

Will Biden himself ever be held accountable for the human cost of his misplaced “compassion”? Almost certainly not. He’s more likely to get a Nobel Prize than to face the repudiation and shame that should be coming to him for endorsing this inhuman social contagion. Still, Biden’s appropriation of religious language to support this disgusting barbarism is one of the most disgraceful episodes of this singularly repulsive man’s noxious career.

AUTHOR

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EDITORS NOTE: This Jihad Watch column is republished with permission. ©All rights reserved.