JANET YELLEN ADMITS DEPOSITORS IN SMALL BANKS NOT PROTECTED BY FDIC

Senate Finance Committee Hearing: Biden Bailing Out Big Banks, NOT Small Banks

The US Secretary of Treasury squirmed and stuttered as she tried to avoid answering Senator James Lankford’s (R-OK) questions last week.  Eventually, Janet Yellen admitted that depositors & investors in BIG BANKS are fully protected under the Federal Deposit Insurance Corporation AND Biden’s bailouts, including foreign depositors and foreign businesses; BUT depositors & investors in small and regional banks are NOT.  As she hemmed & hawed, it became obvious that small bank depositors are being ignored by the FDIC and that small bank investors would receive NO bail out money from the American taxpayers. 

BIDEN’S SCHEME TO OUTLAW CASH IS MOVING QUICKLY

The Biden Administration bailed out big banks and/or well-connected banks, their investors & their depositors, such as Silicon Valley Bank in California and Signature Bank* in New York.  As depositors in small & regional banks realize that the FDIC will not protect all their money, they will transfer their accounts to big banks, thus hastening the collapses of smaller banks.  Big banks will still be operating so, as smaller banks collapse, big banks will take them over. At the same time, state legislatures across the country are trying to redefine “money” to EXCLUDE hard cash you can hold in your hands.

As more & more money flows into the larger banks, we will be moving closer to the complete government takeover of the banking system wherein there will be only ONE bank, a HUGE central bank controlled by the federal government.  Shortly thereafter, the Biden Administration will move quickly to outlaw cash, establish Central Bank Digital Currency (CBDC) and wipe out the Bill of Rights which has protected Americans from government tyranny for 232 years.

THE NIGHTMARE OF DIGITAL CURRENCY

OUTLAWING CASH EQUALS DEATH OF FREEDOM FOR AMERICANS

*In a written statement on January 12, 2021 Signature Bank announced it was closing two personal accounts in which President Trump held about $5 million.  The bank that gave Black Lives Matter, Inc. $850,000 then posted something on their website denouncing violence. Ha!  They went on to pretend they supported the US Constitution: "Signature Bank began the process to close President Trump’s personal accounts and pledges it will not do business in the future with any members of Congress who voted to disregard the Electoral College.” [Perhaps the bank executives were not aware that numerous DEMOCRAT senators and congresspeople voted to ignore certain electoral college votes in 2016, 2004 & 2000 when GOP candidates won. There was no fraud in THOSE elections.]