Posted BY: | NwoReport
Joe Biden reminded us again yesterday he is impervious to the nation’s most pressing concerns and Twitter CEO Elon Musk took note.
This month’s banking crisis, which saw two major banks, Silicon Valley Bank and Signature Bank, completely collapse, has sparked widespread fears about another 2008 financial calamity.
As the Gateway Pundit reported, Treasury Secretary Janet Yellin was forced to admit Biden’s inflation crisis ultimately led to the banking crisis.
“My understanding is that the bank, to meet liquidity needs had to sell assets that it expected to hold to maturity and given that the interest rate increases that have occurred since those assets, including treasuries – and government-backed – mortgage-backed securities they had lost market value,” Yellen said.
The Federal Reserve Wednesday raised interest rates again, adding more economic pain for working Americans.
JP Morgan says the United States is likely headed for a recession due to the twin crises.
Trending: Ron DeSantis Is A Snake Do Not Trust Him
Most of our politicians are cowards. The Fed is a bad joke. Both parties are complicit in printing money and causing inflation to remain in power. The end result will be a larger and more drastic situation when this Ponzi Scheme finally falls apart. The American people should be very upset with those that they sent to Congress. Our faith that they would work to help us was misplaced in most cases.