Don’t trust anyone who says that this bank thing is a one off or who tells you to take a Covid vaccine. From James Howard Kunstler at kunstler.com:
“Deny, deflect, minimise & mock your enemies questions. Don’t engage them in good faith, they’re attacking you with a view to undermining you. Don’t fall for it. Don’t give them an inch.” — Aimee Terese on Twitter
The net effect of all the lying propaganda laid on the public by the people running things lo these many recent years is a peculiar inertia that makes us seemingly impervious to gross political shocks. Momentous things happen and almost instantly get swallowed up by time, as by some voracious cosmic amoeba that thrives on human malignancy. Case in point: the multiple suicide of several giant banks just days ago that prompted “Joe Biden” to nationalize the US banking system.
As if all the operations around finance in this land were not already unsound and degenerate enough, the alleged president just cancelled moral hazard altogether. It’s now official: from here forward there will be no consequences for banking fraud, poor decision-making, fiduciary recklessness, self-dealing, or any of the other risks attendant to the handling of other people’s money. Bailing out the Silicon Valley Bank and Barney Frank’s deluxe Signature Bank means that the government will now have to bail out every bank every time something goes wrong.