Janet Yellen Admits Government Choosing Bank Bailout Winners And Losers

Thursday’s U.S. Senate hearing was attended by Janet Yellen, Treasure Secretary. She admitted that the government has chosen winners and losers for the rigged bailout lottery. You wouldn’t believe it, but the losers look just like the small community banks that the big banks and Democrats would love to see eliminate.

Oklahoma Republican Senator James Lankford asked Yellen a simple question:

Regardless of the size of the deposit, will Oklahoma’s community banks be fully insured? Is every Oklahoma bank and every Oklahoma community bank fully insured, no matter how large the deposit is? They will get the same treatment as Signature Bank and SVBP [Silicon Valley Bank]?

Please take a look at Yellen’s frightening answer.

Only banks are eligible for this treatment if the FDIC board, supermajority of the Fed board, and I, in consultations with the president, decide that failure to protect uninsured depositsors would pose systemic risk and have significant economic and financial consequences.

The FDIC will approve of your bank and the depositors will be insured. If they aren’t, depositors over $250,000 are not covered. What?

This means that people will take their money out of community banks and give those deposits to a few fascist giant banks. They will not only refuse to do business with them if they find certain political views offensive, but they will also own most of the banking.

Lankford is able to see what these corrupt crony capitalists do and follows up:

Lankford was curious: “So, what’s your plan to stop large depositors moving their funds out the community banks into big banks?” “We have witnessed the mergers and acquisitions of banks in the last decade. I am concerned that you are about to accelerate this process by encouraging people with large deposits in community banks to tell them that they won’t make them whole but that if they go to one our preferred banks, they will make them whole.

Now that Yellen was exposed and busted, she decided to play stupid to answer the important question.

She said, “Look, I mean that that’s definitely not something we’re encouraging.”

Lankford replied with the obvious: “That’s happening right now!”

Yellen continued her idiotic act:

This is because depositors are worried about bank failures and whether other banks might fail.

Lankford tried again to get her answer the one question that was important…

It’s not happening because you are fully insured regardless of how much you have if you work in a large bank. If you are a member of a community bank, you won’t be fully covered.

I hope that everyone is able to understand what is happening here.

Informing the public that the money of the public is not safe in big banks favors the Democrat party, all will deposit their money at big banks. This will bankrupt the community banks and force them to surrender to the big banks.

This is just the first step.

Step 2 is the worst.

Once all the money is in the hands of the banks, everything else will be controlled by them. This includes what type of business you can start, what you can or cannot post on social media and what opinions and views you can have.

What would it be like to live where there is no bank or credit card payment facility?

What would it be like to live in an environment where the mall owner can’t rent to a gun shop?

What would it be like to live with closed accounts if you tweeted a bio fact such as “Trans women are males”?

While you might not wish to live in such a world, the Democrat party wants it. They are actively undermining faith and community banks.

Control through central power is always the goal.

Don’t let a crisis pass you by.