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There’s a ‘Banking Crisis Still to Come,’ Courtesy of Biden
“You think ’08 was a terrible financial crisis, we’re going to do it again with way more debt this time.” Liberty University School of Business Dean and financial expert Dave Brat just went on Steve Bannon’s War Room to explain the coming banking crisis triggered by the Biden regime’s disastrous policies.
And yes, those disastrous policies are almost certainly deliberate. The Biden family is bought out by America’s enemy, the Chinese Communist Party (CCP). The Biden administration is eager to help usher in Central Bank Digital Currencies (CBDCs), which lend themselves to central control and dystopian social credit scores. The smaller banks are meant to fail. The whole banking crisis will be an orchestrated catastrophe.
Bannon explained, “When the money markets go up, of course…the deposits are going to drop…you think the banks are in any problems? The interest rates go up, the bonds that they bought, the government securities, they go down in value, right, and your depositors flee because they’re going to go to money market funds.” Bannon then explained Biden’s role. “It’s called a Biden Bank. You’ve got Biden spending tied to Biden inflation, you get a Biden interest rate hike, and then you get a Biden bond, and then you get a Biden bank. And that is the destruction of the banking system.”
Dave Brat agreed. “Bank deposits will shrink dollar for dollar alongside Federal Reserve reserves. So as the Fed tightens…deposits go down. And so that—that’s a major problem for the banking crisis still to come,” Brat said. There’s still a lag because of the Fed stimulus, but the huge crisis will come, he warned. “That stimulus wears off, this interest payments go up [sic], the consumers are now locked into $19 trillion in consumer debt, with interest rates going up. So you think ’08 was a terrible financial crisis, we’re going to do it again with way more debt this time.”
As Bannon said, it’s not we, the poor and middle class Americans, who are lacking intelligence or common sense. We see this coming. It’s the elites who are irrational and ideological. Unfortunately, the irrational ideologues are the ones currently in charge of America’s fate.