Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
By Stan Szymanski
Last night, just after the futures markets opened, the Treasury, the Federal Reserve and the FDIC issued a ‘joint press release’ to inform the world of their method of salvation for the banking system:
…’the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.’…(Board of Governors of the Federal Reserve System)
In reading the other pertinent information that soon became available about this momentous intervention, one might be apt to think that they were talking about the newly minted BTFB or Bank Term Funding Program:
…’The financing will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution’s need to quickly sell those securities in times of stress….
The Fed explains that the Department of the Treasury will make available "up to $25 billion from the Exchange Stabilization Fund as a backstop for the BTFP.”’…(Zero Hedge 3/12/23)
So as reported above, the Treasury stands ready to provide up to $25 Billion available from the Exchange Stabilization Fund as security for the new program.
Because things are moving so fast over the past few days I started and then scuttled two other stories that I didn’t write because of the evolving facts and storyline.
In my writing, trashing and then writing again, the most interesting thing that I learned in the past few days is that the FDIC does not just back deposits with the DIF (Deposit Insurance Fund) but that the FDIC deposit insurance itself is also backed by the ‘full faith and credit of the United States Government’:
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Please refer to our proviso at the end of the article regarding any reproduction of this writing and consider a donation to Encouraging Angels today.
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…FDIC deposit insurance is backed by the full faith and credit of the United States government. This means that the resources of the United States government stand behind FDIC-insured depositors. (FDIC)
In practice, what does this exactly mean?
Please take a look at the Federal Deposit Insurance Act and specifically Section 14 ‘Borrowing Authority’(a) Borrowing From The Treasury (1) In General:
…’The Corporation is authorized to borrow from the Treasury, and the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the Corporation and the Secretary, such funds as in the judgment of the Board of Directors of the Corporation are from time to time required for insurance purposes, not exceeding in the aggregate $100,000,000,000 outstanding at any one time, subject to the approval of the Secretary of the Treasury: Provided, That the rate of interest to be charged in connection with any loan made pursuant to this subsection shall not be less than an amount determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities. For such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds of the sale of any securities hereafter issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under the Second Liberty Bond Act, as amended, are extended to include such loans. Any such loan shall be used by the Corporation solely in carrying out its functions with respect to such insurance. All loans and repayments under this subsection shall be treated as public-debt transactions of the United States. The Corporation may employ any funds obtained under this section for purposes of the Deposit Insurance Fund and the borrowing shall become a liability of the Deposit Insurance Fund to the extent funds are employed therefor.’…(FDIC)
So it appears to me (I am not a legal professional and do not give any legal advice) that the FDIC is empowered to borrow from the Treasury. Then the Board of the Corporation (FDIC) work out the terms with the Secretary of the Treasury. And this is what really caught my eye:
…’not exceeding in the aggregate $100,000,000,000 outstanding at any one time, subject to the approval of the Secretary of the Treasury’…
$100 Billion Dollars is a lot of money. And the FDIC is apparently already, by law, approved to borrow up to that amount pursuant to the approval of the Secretary of the Treasury.
So we have the news yesterday that the Department of the Treasury will make available up to $25 Billion for the new BTFB program so that banks can …’meet the needs of all their depositors’…
Why need there be the establishment of this BTFB of $25 Billion when the Federal Deposit Insurance Act already makes provision in the law for up to $100 Billion to take care of the work of the FDIC whose business is to insure the deposits of those who are covered by said insurance? Wouldn’t the FDIC just work on a plan and how much they need to borrow from the Treasury and work it out with the Treasury Secretary-especially since the amount of the BTFB was less than $100 Billion?
There is a time clock in play and we know it today as the ‘Debt Ceiling’ or the ‘Debt Limit’. On January 19, 2023 the US hit its ‘Debt Ceiling’ which prompted the Treasury Department to take ‘extraordinary measures’ in order to keep the government paying its bills. What does this have to do with the bailout of the recently failed banks and the almost for certain, more banks to come?
The ‘Debt Ceiling’ is officially known by another name. We saw it in our quote above from the Federal Deposit Insurance Act, Borrowing Authority above:
…’For such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds of the sale of any securities hereafter issued under the Second Liberty Bond Act (emphasis added), as amended, and the purposes for which securities may be issued under the Second Liberty Bond Act, as amended, are extended to include such loans. Any such loan shall be used by the Corporation solely in carrying out its functions with respect to such insurance.’…
The ‘Debt Limit’ or ‘Debt Ceiling’ was established in 1917 under the Second Liberty Bond Act.
So it seems to me that if the United States has already reached its ‘Debt Ceiling’ (Second Liberty Bond Act) in January, how on earth can they legally issue debt through the statutory mechanism outlined above; the working together of the FDIC and the Treasury Secretary?
So, if the US just hit its debt limit and the ‘Three Amigos (not Martin Short, Steve Martin and Chevy Chase) of the Treasury, the Federal Reserve and the FDIC just announced that the $25 Billion for BTFB will appear out of the thin air or as some like to call it ‘the Exchange Stabilization Fund’ (ESF).
The ESF is accountable -only- to the Secretary of the Treasury and the President of the United States. It was established under the Gold Reserve Act of 1934 for the purpose of trading in rehypothecations in the gold market (derivatives and manipulations thereof IMHO).
So the fate of the financial world is now backstopped not by a world power or conglomeration of countries at this time of peril, but by a shadowy entity, the Exchange Stabilization Fund, a monetary organism that most people who have worked in finance have never even heard of, let alone become familiar with. It’s nice that they (the ESF) have money when the rest of the government doesn’t, don’t you think (sarcasm off)?
And now that an unknown entity has come to the rescue:
…’US Treasury Secretary Janet Yellen said the actions taken Sunday will protect “all depositors,” signaling aid to those whose accounts exceed the typical $250,000 threshold for FDIC insurance.’…(Bloomberg via Yahoo)
The Three Amigos have guaranteed ‘all depositors’. The government that has run out of money to run itself has just guaranteed ‘all depositors’ and is using bodies in the shadows (ESF) to do it.
I went through the exercise of showing that the FDIC was empowered by law to borrow $100 billion to shore up bank deposits. The fact that the powers that be are not using this lawful facility but have in fact, bet the farm on a vague and chimerical creature in the body known as the ESF should tell you just how much danger that not just the US, but the world financial system is in.
Peter Conti-Brown, associate professor at the University of Pennsylvania’s Wharton School was quoted yesterday as saying:
…’The Fed’s emergency lending program is “an admission not only of systemic risk but that the risks are so unusual and exigent that failure to invoke this liquidity could create a financial crisis,”’…(Bloomberg via Yahoo)
So if you didn’t know, now you know. We are up SHTF Creek without a paddle. We do not know the true genesis of the nature of the funding that is emanating from the ESF. Is it American? If it is not American to whom would we owe our survival to? China? Klaus Schwab? To whom would we owe the country to?
The Federal Reserve is involved because the amount that will be needed is in the Trillions, far above the $100 billion approved for by law for bailouts…
…’And while the Federal Reserve - which was completely clueless about this banking crisis until Thursday - does not anticipate that it will be necessary to draw on these backstop funds, we anticipate that the final number of needed backstop liquidity be somewhere north of $2 trillion.’…(Zero Hedge-many times there is an author from another site-this time the author was just…Tyler Durden..)
Do you trust Janet Yellen (wearer of one of the sombreros as 1/3 of the 3 Amigos) with your future? Do you trust the being who occupies the same seat as Jefferson, Lincoln Trump and Obama with your well being as you watch him on TV shaking hands with his imaginary friends who aren’t there? Finally, are we to trust the ‘Three Amigos’ who have one and all led us into the ditch on behalf of their betters? Are we to put our confidence in those who want us to ‘own nothing and be happy’ and who use the fear of a virus and the enmity of a wicked pharmaceutical intervention to extinguish and rule us?
The financial movie set in which the ‘Three Amigos’ (Fed, Yellen & FDIC) is ablaze and playing out just as, in my humble opinion, they knew it would. One of the big problems I believe, is that your financial advisor, your banker and your most financially knowledgeable friend begin all of their presuppositions with the information that the Three Amigos propagandize them with. The financial scenery is flaming and the embers, I am afraid, are the savings, checking and pension accounts of the citizens of America and the world. Time to consider thinking a bit differently.
The only true money in history is gold and silver. It has never gone away. They didn’t tell you, but they, the central banks of the world, have been aggressively buying it for well over a decade. They have been preparing for a day when the dollar is gone. Have you prepared for a day when the US Dollar is no longer the world reserve currency? What will that mean for you? If you have prepared you will have an opportunity able to make it into the next episode. If not, you may be written out of the show. You also need food, water, shelter, energy and protection. But today we concern ourselves with the above monetary frames and flames of description.
People like Steve Quayle, Bill Holter and Mike Maloney can help you with your questions about Gold and Silver. People like The Federal Reserve Board, Janet Yellen and the FDIC might help you get tickets to a show that you don’t want to see and definitely don’t want to be part of.
The Exchange Stabilization Fund says ‘Hello’.
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If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author and those reproductions must include this proviso of request for support, how this writing may be reproduced and following disclaimers.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-nzeu3-13b5a90
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
In light of this statement please consider getting food, water (and a way to procure, purify and store), shelter (preferably away from a big city), energy (perhaps a bit of solar) and protection (at least be where everyone isn’t). This much ‘reassurance’ from the powers that be means that there is a serious problem, IMHO.
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author and those reproductions must include this proviso of request for support, how this writing may be reproduced and following disclaimers.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Photo Credit: https://www.svbsecurities.com/team/joseph-gentile/
By Stan Szymanski
Please file this under ‘you just can’t make this stuff up: Joseph Gentile who has served as Chief Administrative Officer at the recently caput Silicon Valley Bank since 2007 was, prior to joining SVP, CFO for Lehman Brothers’ Global Investment Bank, Fixed Income Division.
Just because SVB and Lehman collapsed where he was a leading player doesn’t necessarily make this man the ‘harbinger’ of doom. Perhaps this is just a guy that you wouldn’t want to have wish you ‘luck’. Perhaps…
According to coinwire.com it may have been a little more than that:
___________________________Please refer to our proviso at the end of the article regarding any reproduction of this writing and consider a donation to Encouraging Angels today.—————————————-…’Despite Gentile’s extensive experience in the financial sector, his tenure at the Silicon Valley Bank was marked by controversy. Gentile’s leadership style was often described as autocratic, and he was known for making decisions without consulting the bank’s board of directors. This lack of transparency and accountability created an environment where risky lending practices were rampant, and the bank’s risk management practices were inadequate.’…(coinwire.com)
So we are going to have to see what other information emerges from the dust cloud of the SVP catastrophe concerning all the plausible characters of calamity and cataclysm.
Now that Mr. Gentile has an opening in his schedule, perhaps Janet Yellen, Jerome Powell and Joe Biden are looking for a fourth for Bridge…or some other game of ‘tricks’…
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If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author and those reproductions must include this proviso of request for support, how this writing may be reproduced and following disclaimers.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Image credit: 6:32AM 3/11/23 https://www.calebandbrown.com/
By Stan Szymanski
Many thanks to Bix Weir for his email alert to his ‘Public Road’ subscribers today concerning aspects of this matter and inspiring this writing.
Silicon Valley Bank (SVB) collapsed and was put into receivership by the FDIC late this week. SVB was the 16th largest bank in the United States. This means that the collapse is not only horrible for SVB but is perhaps more importantly a huge problem for its customers.
For instance, internet content provider Roku was impacted according the ABC News:
…’Internet TV provider Roku was among casualties of the bank collapse. It said in a regulatory filing Friday that about 26% of its cash — $487 million — was deposited at Silicon Valley Bank. …Roku said its deposits with SVB were largely uninsured and it didn’t know “to what extent” it would be able to recover them.’…(ABC News)
Of a potentially much larger concern is the contagion in banking and its connection to cryptocurrencies. Earlier in the week Silvergate bank collapsed. Silvergate was a darling of the crypto community. Starting in earnest with the collapse of Sam Bankman-Frieds’ cataclysmic destruction of FTX in late 2022, the cratering of the crypto market and confidence in it has proved to be valid.
After Silvergate fell, SVB followed suit.
Because of the catastrophe at SVB this is cascading mightily into the business existence of its customers.
Of particular note is SVB’s patron, Circle and its ‘StableCoin’ USDC.
In a message from support at cryptocurrency broker Caleb & Brown we see:
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Please refer to our proviso at the end of the article regarding any reproduction of this writing and consider a donation to Encouraging Angels today.
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…’SVB (different from Silvergate) happens to be 1 of the 6 banks that hold collectively 25% of Circle’s reserves. As Circle has not yet clarified the exact percentage of exposure, the potential range is UP TO 25%, but unlikely to be the whole amount.’… (thanks to Bix Weir for sharing this info via his email update to his “Public Road” Update subscribers)
So a portion of the reserves of Circle’s USDC StableCoin are now tied up in the receivership by the FDIC of SVP. That means that for the time that the FDIC holds those assets during the time of receivership, the issuance of USDC is not backed 1-to-1 with dollar denominated assets. A portion of USDC is now backed by -nothing-.
As of this morning at 6:31AM E.S.T. USDC has lost its peg to $1.00 and was trading at $.92
So we see that we now have holder of a major ‘StableCoin’ taking losses on an asset that was supposed to have a ‘stable’ value of $1.00.
Ladies and Gentlemen, we now live in a world where crypto failures are crashing banks (FTX crashing Silvergate) and where bank failures are crashing cryptocurrencies (SVP failure crashing Circle’s USDC).
What will be safe as we see the clear cut corruption of the financial system in the west manifest in these banking and cryptocurrency institutions? Wouldn’t your money be better off (this is not financial advice; consult a financial professional) in tangible items such as: food, water (and a way to purify and store it), shelter (preferably away from a major city), energy (perhaps solar) and protection (at the least be where everyone isn’t)? The consideration of precious metals is something you may want to pay particular attention to at this time (Steve Quayle, Bill Holter and Mike Maloney are a few names to look into to help you-(this is not financial advice).
In these times we also need to ask God for wisdom. Find out about Jesus and trust Him as Lord and Savior. Read the Gospel of John to get started and find out if Jesus is who He said He is. Unlike assets in SVB, If you are The Lord’s no one can take that away from you.
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If you appreciate this article can you consider a gift to Encouraging Angels for the intelligence we provided today? Click this link to give. We need the support. Links to this article are encouraged. Reproductions of this writing are only allowed by written permission of the author and those reproductions must include this proviso of request for support, how this writing may be reproduced and following disclaimers.
All rights reserved.
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.nsromamedia.com/day-us-military-burned-bible-afghanistan/
Why is this story on EA? Because the country that forgets, denies and burns God’s Word will have God forget about them and cast them into the lake or fire:
…’“Whosoever therefore shall confess me before men, him will I confess also before my Father which is in heaven. But whosoever shall deny me before men, him will I also deny before my Father which is in heaven. Think not that I am come to send peace on earth: I came not to send peace, but a sword.”
Matthew 10:32-34 KJV
https://bible.com/bible/1/mat.10.32-34.KJV
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Image credit: 00:28 https://clouthub.com/v/06bfa67f-f512-445f-ae5f-29340ac9003b
I was honored to be on ‘Happy Hour With Dr. T’ with Dr. Sherri Tenpenny this past Tuesday. Interview, Bible study and musical performance by Stan.
https://clouthub.com/v/06bfa67f-f512-445f-ae5f-29340ac9003b
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-mh2ps-13b0e2d
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.cbsnews.com/pittsburgh/news/beaver-county-family-around-the-clock-caregiver-questions/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
After 21 years and available for download for the first time is ‘Turning Lemons Into Lemonade’ by Stan Szymanski (Label: The Orchard). Written and recorded on virtually no budget and with few recording tools-but with some very talented people. ‘Lemons’ was originally recorded to help the Szymanski family survive the impact of caring for their daughter Hannah in the midst of catastrophic childhood disease.
After 21 years Stan recently has performed songs from the release spurring the interest in its availability. There is much hope and encouragement in this music and that is something we can all use right now.
If you would like to make a tax deductible donation (EA is a tax-exempt 501(c)(3) organization -please consult a tax professional as to your situation), for any gift of over $20 US EA will send you a -physical CD- if you wish. Please go to the ‘Donate-Contact Us’ page for our mailing address and online gifting. Any purchases on iTunes of the recording are not tax deductible.
Just search for ‘Stan Szymanski’ on iTunes amd click on the ‘Turning Lemons Into Lemonade’ full release. Thank you for your consideration.
https://music.apple.com/us/album/turning-lemons-into-lemonade/1676393269
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.yahoo.com/news/house-republicans-reportedly-getting-ready-163310211.html
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-q98rj-13af3e9
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Why am I posting a story about this here at EA? 1) Because Martin Armstrong has worldwide contacts and has advised world leaders for well over 40 years 2) Because all you hear in western media is neocon propaganda who want a war with Russia (and China) and 3) the world is dangerously close to the precipice of World War III (which would involve war on the shores of America) right now because of the neocons lust for blood and if there is a change in leadership in the Ukraine perhaps war can be averted 4) I pray for the chance for life and happiness for my disabled friends and caregivers, not war and more needless suffering
https://www.armstrongeconomics.com/uncategorized/ukrainian-military-dissent-against-zelensky/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
You are not alone…Be faithful in the small things
https://ncrenegade.com/dont-tolerate-weak-men/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-nec9v-13adb66
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
Please watch the interview, Bible study and music performance on ‘Happy Hour With Dr. T. (Tenpenny)’ tonight at 6pm EST (11pm GMT)…here are the links to watch:
https://clouthub.com/c/happyhourwithdrt
https://drtenpenny.com/category/the-tenpenny-files-podcasts/
https://dnyuz.com/2023/03/05/judy-heumann-who-led-the-fight-for-disability-rights-dies-at-75/
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
https://www.podbean.com/ew/pb-63tx3-13ac46d
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
All Rights Reserved.
Encouraging Angels is a tax-exempt 501(c)(3) organization that promotes Disability and Speical Needs awareness as well as delivering music services to those affected.
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