Bill’s Commentary:
“Don’t worry, the CRASH will be “transitory”!”
According to data released by the Federal Home Loan Banks for the quarter ending December 31, 2023, it is not just small or medium size banks that are tapping advances from the FHLBs. As of that date, the top three borrowers were the following: JPMorgan Chase, the largest bank in the U.S., had outstanding FHLB advances of $41.7 billion. Wells Fargo and PNC Bank each took second place with advances of $38 billion each.
During Spring Bank Panic of 2023, Liquidity Advances from FHLBs Topped Those of Q4 2008, when Wall Street Was in Collapse
According to data from the Federal Deposit Insurance Corporation, and using a graph from the St. Louis Fed above, the liquidity crisis among banks in the spring of last year was far more dramatic than has been acknowledged by banking regulators.
According to the data, during the worst financial crisis since the Great Depression (at the end of the fourth quarter of 2008 when Wall Street was in a state of collapse), banks had borrowed a total of $790 billion in advances from Federal Home Loan Banks (FHLBs). But during the bank panic in the spring of last year, those FHLB advances topped the Q4 2008 number, registering $804 billion as of March 31, 2023.
Bill’s Commentary:
“This could, and would, all come to an end in one single day. “Shoot to kill” comes to mind …”
Bill’s Commentary:
“Woke is crumbling, others will follow…”
Texas pulls $8.5B from BlackRock in stunning blow to ESG movement
In an announcement first shared with FOX Business, Texas State Board of Education Chairman Aaron Kinsey said the so-called Texas Permanent School Fund (PSF) had delivered a notice to BlackRock on Tuesday, informing the New York City-based firm of the action. According to Kinsey, the move was made in accordance with a 2021 state law that seeks to distance the state and its large public purse from financial institutions boycotting the oil and gas sector.
Bill is interviewed by Patrick Viera at Silver Bullion (Also posted under Interviews)
Bill’s Commentary:
“Whether you like Trump or not, this would fall under the category of “God always provides when it’s needed”!”
Trump says he has nearly $500M in cash, suggests he could afford bond in New York AG case, slams ‘hack’ judge
Former President Trump says he has nearly $500 million in cash, suggesting he has the money to post bond in the New York civil fraud case on Monday as required by a judge.
Trump and his legal team have appealed and requested a stay on his $454 million civil fraud judgment. He is required to post that bond by Monday.
BillHolter.com 