PatriotR Daily News 2/28/24
FINANCIAL FOCUS
Countdown Begins: Fed Set to Let Emergency Bank Lending Program Expire on March 11
The Federal Reserve announced that the Bank Term Funding Program (BTFP), created after the collapse of Silicon Valley Bank to provide a funding lifeline for banks, will close as scheduled in March. The Fed also raised the interest rate on new loans from the BTFP for the remainder of its life, effectively ending a profitable arbitrage opportunity for U.S. lenders. The program was launched amid a historic run on deposits and market stress after the failure of Silicon Valley Bank and Signature Bank. Loans outstanding as of Jan. 17 stood at $161.5 billion, but the increase in borrowing costs is expected to reduce new borrowing to nearly zero. The end of the BTFP and the faster runoff of Fed credit extensions are likely to lead to a faster shrinkage of the Fed's balance sheet in 2024. Read More
3 Shocking Banking Truth You Need to Know!
1. The Money Isn’t Really Yours: Think your bank account balance is all yours? Think again. The moment you deposit, the bank owns it, and you're left with an IOU. Your hard-earned cash can be frozen or seized with the click of a button for any reason they deem fit.
2. The Money Isn’t Actually There: Ever wondered if your bank actually holds your money? Spoiler: It doesn't. Thanks to fractional reserve banking, if everyone decided to withdraw their money at once, banks would be in a crisis. Your money is being gambled away in risky investments, not tucked away safely.
3. The Money Isn’t Really Money: We use currency daily without questioning its value. Real money, unlike government-issued currency, emerges from the market, embodying stored life or energy. For centuries, gold has been the ultimate form of money due to its scarcity and resistance to inflation.
Why It Matters: The banking system is a fragile house of cards, vulnerable to collapse, potentially wiping out savings overnight. Don't be fooled by the illusion of security. Educate yourself and take steps to protect your assets before it's too late.
GEOPOLITICAL FOCUS
Putin Sends Warning to West with Flight on Nuclear-Capable Bomber
Putin sends a bold message to the West with a flight on the nuclear-capable Tu-160M bomber. With the ability to carry 12 cruise missiles and a range of approximately 7,500 miles without refueling, this strategic move showcases Russia's military prowess. Read Now.
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