As usual, the news is not the news.
Everything everyone is talking about…..
…..is NOT what matters.
Allow Dreizin to clear something up for you.
Yes, with Treasury bond yields where they were ten days ago…..
With those yields…..
We now know…..
The entire U.S. banking system is SHOT.
No, not EVERY bank…..
But, you don’t know WHICH banks, right?
As I said, shot.
“Fortunately“, yields have since come down…..
With that out of the way…..
There is ZERO risk…..
…..of cascading, Great Depression-style, mass bank failures and depositor wipeouts in the USA.
With digital banking, digital money…..
…..and interventionist authorities…..
…..it’s NOT possible.
In the WORST case…..
With the benefit of historical awareness…..
“They” would quickly…..
…..(without waiting “too long”, as in the early 1930s)…..
…..order banks to cease handing out cash…..
…..for a while.
(Perhaps, in fact, close all physical branches for the first few days, to let the news sink in, avoid drama at the branches.)
They could also bar the “Too Big To Fail” banks (e.g., BofA)…..
…..from opening any new accounts…..
…..(or, accounts for new customers specifically.)
At that point, sure…..
You could still move your virtual money…..
…..from one troubled regional or local bank…..
But, what would be the point?
(You could also buy cryptos or precious metals by EFT or debit/credit card, but, with enough people doing that, the price of those assets would run up astronomically, turning most people off from the idea.)
Keep in mind…..
Even after Roosevelt’s “bank (withdrawals) holiday” of 1933…..
The economy still, somehow, functioned…..
Poorly, but functioned.
With today’s digital money…..
Do you think everything would stop?
Of course not!
And, who knows?
After a few weeks or months…..
They MIGHT just decide…..
…..to make “no cash withdrawals“… permanent.
Never let a crisis go to waste, right?
You know, a cashless society…..
…..is a reliably tax-paying society.
What they CAN’T control…..
Is, where does all that trapped money…..
…..(or ANY money)…..
That is, they can’t control “inflation.”
They only influence the money supply.
They don’t control supply and demand for real goods and services.
Especially when things get screwy…..
…..and we get into uncharted waters…..
They WON’T be able to control…..
And, as I wrote over a week ago…..
…..(I was the FIRST to say it, that I know of. Even ahead of ZeroHedge. Now, everyone is saying it. UPDATE: The Wall Street Journal editorial board finally said it today, Tuesday, 3/21. I’m waaaaay ahead of these jokers)…..
If they make it so that banks can’t fail…..
…..(whether through 100% coverage of all deposits up to any amount, or through the measures I’ve outlined above)…..
What do you think banks would start to do…..
…..with depositors’ money?
Maybe not all overnight, but…..
To the extent allowed by their boards and (as applicable) charters…..
They’d buy stocks, oil and wheat futures, real estate, fine wines, cigars, pet rocks, oceanic ports in Kansas, bitcoins, shitcoins…..
Also, their lending standards would suffer “just a bit.”
It would be crazier, than even 2005-2007.
It would drive up all prices in a hurry…..
Leaving you pining for the “relatively low” inflation…..
Individual deposit holders…..
…..would be more inclined to spend every cent…..
Because, what the hell…..
You can’t get it out…..
…..and, looks like it’s all coming down anyway.
I know *I* would.
That would also be HUGELY “inflationary.”
Again, there is ZERO threat of cascading, Great Depression-style, mass bank failures and depositor wipeouts in the USA.
Anyone pitching that fear…..
Perhaps the USA itself…..
…..will be broken and brought down…..
…..by something else:
Rape! Mass Graves! Keeping Kids Safe!
It’s funny, that after the hysterias…..
…..over Russian rape dungeons in the Kiev suburbs…..
…..and someone raped with a spoon…..
…..and Russia’s army dispensing Viagra to its soldiers….
…..and the graves of people who must’ve been, like, executed or something…..
…..and shooting civilians in the streets…..
…..that were investigated and never confirmed…..
…..by United Nations (UN) professionals on the ground…..
…..and almost certainly, by the U.S. Government as well…..
The ONLY thing…..
…..on which they could “get” Putin…..
…..(and his Children’s Rights Commissioner lady)
…..(going completely around the UN)…..
…..is an International Criminal Court warrant…..
…..for the crime of evacuating households with children…..
…..from Donetsk and Lugansk…..
…..to other parts of Russia…..
….so the kids could continue a normal schooling and social routine…..
…..and not grow up traumatized…..
…..from all the incoming shells and rockets.
(Not to mention, many of the towns and villages newly retaken from the Ukraine, are so bombed out, no functioning civil government, no utilities, half the houses don’t have a roof. You really want mothers with babies to live in there???)
I assume, Putin stands accused…..
…..of displacing populations…..
…..contrary to the 1949 Geneva Convention.
The same thing Israel used to get dunked for…..
…..when it seizes Arab land…..
…..for its own settlements.
(Remember Israel? It’s a country that used to be in the news. As evil as Russia! The Arab-Israeli conflict was “poisoning the world”! We MUST solve it immediately! LOL.)
Anyone who believed…..
…..any of the Russian “war crimes” bullshit…..
…..over the last year-plus…..
…..is a SUBHUMAN CRETIN…..
…..who should not be sharing my air…..
…..on this planet.
Find another planet, you goddamn idiots!!!
In the last 20, maybe 25 years…..
At least, outside of the Congo…..
The ONLY documented cases of war rape and rape-murder…..
…..(as well as sexual abuse of prisoners)…..
…..not involving a terrorist group…..
…..were those involving U.S. personnel…..
…..in the Iraq clusterfuck.
In this context…..
I’d like to remind readers…..
…..that Lieutenant Calley…..
Who ordered his men…..
…..to kill everyone at My Lai village…..
Racking up a body count of close to 500…..
…..of whom around 40% were under-18…..
Only spent something like SIX years in jail….
(UPDATE: I’ve since learned, it was much, much less than that. I’ll write more about this, next time.)
And was a HERO…..
…..to many, many millions of Americans.
At least he’s not Stalin!!! LOL.
If you enjoyed all this wonderful infotainment…..
Please give me some money.
Or at least…..
Follow and like all my Twittering.
Also, chances are…..
…..you missed my last, brief piece.
Tuesday mornings are awful for reaching anyone.
I will repeat this in every post…..
…..(except “headline only“, quickie posts)…..
…..until it’s no longer relevant…..
…..and/or we’re no longer here.
Assuming we make it to 2024…..
…..and have an election…..
The wonderful governor of Florida…..
If elected President of the USA…..
Won’t do much of shit…..
…..other than get us into a war…..
…..with our supplier of everything.
That is, China.
Because that’s the track we’re on.
Trump tried to take the rivalry in an exclusively economic direction…..
But he was removed.
And now… THE CAKE IS BAKED.
Yes, I’m waiting for another pann-de-mmick…..
But the only strictly “political” issue now that matters…..
…..is how hard the U.S. will fight…..
…..and risk everything…..
…..(including, me and my family)…..
….to hold on to its Hegemony.
And… the “public” has no say in that.
Will NEVER have a say.
I can’t remember the last time the “public” had a say…..
…..on anything that really mattered.
Because we don’t fucking matter.
Anyone who plans to keep voting…..
…..(above the local/state level)…..
…..and legitimize U.S. Federal politics…..
…..and the destruction of their own country…..
…..and perhaps the world…..
…..is a “battered wife“…..
…..or just a FUCKING IDIOT.
(However, even if you’re an idiot, you should still give me money, for all the work I put into this blog. Or, at least, follow me on Twitter, and be sure to “like” everything, even the old stuff.)
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Comments and any associated weblinks or other references must be directly relevant, tangential, and responsive to specific facts or views within my own published material (not just to other comments), specifically the material above the given comments section that you are adding to. What this means, for example, is if I wrote about dogs and cats in the Ukraine, and only dogs and cats in the Ukraine, please don’t start babbling about life in Lugansk, or the horrible loss of life in general. THIS IS NOT A “DISCUSSION BOARD.” IT IS NOT A DEBATE PLATFORM TO DISCUSS IRRELEVANT HISTORICAL QUESTIONS, OR TO INJECT YOUR OWN PET SUBJECTS / INTERESTS, PHILOSOPHICAL MUSINGS, OR RANDOM RAMBLINGS THAT DON’T DIRECTLY, SUBSTANTIALLY BEAR ON WHAT I WROTE. Please, no disjointed / overcaffeinated rambling, which implies, among other things, no mentioning eight different topics in one comment, like a schizoid aiming to connect all the dots (if your mind is racing, take your Ritalin and calm the fuck down before you comment on this site); no “pet issues” or inquiries that have no direct bearing on what I wrote; no unclear/unexplained, irrelevant, or barely-relevant weblinks; no trying to write your own mini-blog news update digest in my comments; no batteries of questions like what about Donetsk and what about Kiev and what about the Big Offensive and how does this all end and where does blah blah blah (I will NOT respond to you, I will BLOCK you); no asking me what I think of some commentator whom I’ve never heard of; no Nazis; no Nazis pretending to be Jewish like “I’m a bar mitzvah boy, but I’m so ashamed of my people who are not the real Jews of Jesus’ time“; no “crypto” Jew-hating (when I have to read it three times before I’m sure it’s about Jews, then I permanently block your wise ass); no dogmatic Marxists; no using anti-Ukraine jargon or other “Nadsat” bullshit-speak that you picked up from The Saker, which no one outside of you and your freaky virtual friends can understand (e.g., Ukrops, 404, the vimiratis); no calling for the destruction or dissolution of the USA or its government; no calling for the destruction of Washington, DC; no calling for violence against current or former elected or appointed officials of the U.S. Government; no nonconstructive or hateful ranting about Jews (or Swej, Joos, Jooz, Jooze, Juice, Juize, Jewz, Jewze, J-Dogs, J-Dogz, J-Dawgz, J’s, Chews, Choos, Chooz, Chooze, Zionists, Zio-Nazis, Anglo-American Zionists, Amerizionists, Zionist Occupation Government, ZOG, IsraHell, Bibi SatanYahoo, “those of whom we cannot speak”, “your friends whom we can’t talk about”, “a certain small ethnic group”, the chosen, the tribe, the chosen tribe, the thirteenth tribe, tribe of Judah, the Khazarians, Khazarian mafia, Rothschilds, Khazarian Rothschilds, JewTube, JooTube, JewMerica, JooMerica, etc., etc.); no being nasty to other commenters; no trolling the “sysop”; no passive-aggressive needling of the “sysop” (I don’t acknowledge, I just BLOCK and you’re gone, “one strike” and your ass is out, GO GET SOME THERAPY); no dissing or ragging on the Insane Clown Posse, no Chupacabras, no “country music”, no karens or avocado toast, no complaining that your other comment wasn’t published (because you’d didn’t read this Comments Policy), and no claiming “the korona doesn’t exist because vyruses don’t exist.” Please share your ***CONCISE*** (2 smartphone screens of small font text is NOT concise, I don’t have time to read your dumb fucking manifesto, gawd dayyuuum!!!), relevant, coherent, organized thoughts, and come back for my next post. Also, by commenting, you expressly accept and agree to my “one bullet, one Nazi” policy, and please be advised, this includes Nazis everywhere, even in the Ukraine. Furthermore, if you are a LibJew/DemJew, you are BANNED from commenting on this site UNLESS you acknowledge the extensive presence and influence of Nazis and other fascists in the Ukraine, who don’t give a fuck that they have an allegedly “Jewish president”, because they’re still (in many cases) getting paid by the state, and they’ll “take their country back from the Jews” once they take care of the Russians (can’t slit all throats at once.) If you can’t acknowledge it, then get the fuck out with your “Never Again” bullshit. Also, no scrubs. If you don’t know what a “scrub” is, please consult the TLC video on YouTube. Although scrubs exist in ALL ethnic groups and populations, a very good example of scrubs, is all the poor young black men who get shot dead, and then the moms are like, “He had such aspirations, he was going to be a rapper.” Yeah, they were all going to be famous rappers, all the thousands of them! Sure!
Thanks Jacob, once again you are covering all the bases for us.
We’re averaging one funeral a week these days among our circle, so even if your Varyant X takes a bit more time, the end result will still similar. Almost no one is having babies.
Do you think after the big China Russia Summit, the US is going to accept its demotion? Another of my favorite Bloggers counted seven references John Kirby made on Monday at his WH presser that the US is the “leader” of the world as if saying it over and over would make it true. I’m afraid the US, certainly the NeoCons, are going to reach for desperate means to hold on to their power. Who needs a Varyant X in C. Europe when we’re being Nuked?
Just for you, I’ll sign back onto Twitter and like all your tweets.
Despite all the terrible news, spring is springing and the daffodils are blooming – we planted potatoes and radishes this week. How’s that for optimists. Thank you God.
The neocons who run the US will never accept the demotion.
I’m afraid that we will eventually find out what the fall of a nuclear Empire means in terms of ‘Collateral Damage’ :-(.
God Have Mercy…
First there is inflation (credit expansion in a debt-backed, fiat currency economy). We’ve had >100 years of inflation with only one period of deflation (almost 100 years ago). Then comes deflation (debt contraction). Prices are controlled by many variables. Inflation/deflation is only one variable. You pointed out how this ends even under your scenario: Widespread lack of confidence in the currency. Under such conditions, people will race to put whatever they have left into hard assets. Backwardation in gold is the key signal as it says that gold in hand is worth far more than a promise for gold in the future. When the fiat currency is worthless, there will be no bid for it (the fiat currency) and no ability to swap Federal Reserve Notes for gold.
What is going on with all the recent news about climb-it-chain fun-guy? Is this the longstanding prediction about very-yen-tax by March?
LOL, this is far off-topic, but the ridiculous spellings are so ridiculous, I had to give you a pass. Bravo.
I don’t think any fungi have (yet) risen to remotely qualify for my Varyant X prediction. If I’m wrong about “by March 31st”… I’m wrong. I still expect to have the last laugh.
The US of A is still a huge country and very wealthy, a net food exporter with hundreds of thousands of acres deliberately left fallow by government fiat (they pay farmers not to plant crops!?!). Also despite the best efforts of the overlords to dumb down and weaken the population, it remains hard-working and resourceful, at least many are, lol. The doomers are too manichean, they think if endless prosperity is ending that it automatically means endless poverty is coming, they are way off. Inflation weakens the non-productive – and strengthens the productive – it will help the young improve their lot by increasing their earnings and it will weaken those on fixed incomes, too bad so sad, invest in productive assets and inflation will not hurt you other than in the short run.
Sadly we are inflicted with a hostile elite that hates us – once enough people figure this out (maybe this will happen – the programming is so strong that probably at least a third will never get it as they are incapable of thought and can only know what they are told oh well every society needs donkeys!) then real change will happen and our zombie empire with its zombie “leaders” will bite the dust and all its employees will have to do real work not just oppressing poor brown people.
I guess I’m saying – Inflation – bring it on! Inflation kills zombies!
Anyhow thanks Jacob – thanks for your time, thanks for your work, God bless you and your family,…and God, our real living heavenly father, bless us all!
There is still a case for deflation — if the derivatives chains unravel, it just may not be possible to conjure up enough dollars; perhaps some other intervention would be required, but any intervention in these most senior obligations would be most destabilizing, across international borders too.
You are making a case that the same cantillon effect government that likes printing money will not figure out a way to avoid monetary deflation? Seriously?
Its all semantics , even in financial form. There is no inflation or deflation, just wealth transfer. Yes I suppose that financial chaos itself in theory could cause all people to lose out but in financial terms its a zero sum game. In 2008 I used to laugh at all the too much money caused it. Yep in 2008 during the occupy Wall Street movement they were blocking the streets with pallets of money… Everyone had too much money in their wallets. What an outrage. Yeah no, only people with assets could print money. The bailouts just cooked the books, the money was already in the economy as mortgage cash machines, which was why “printing” money was still disinflation. Its why I bought junk bonds in 2009. I dumped them when junk was 3% in 2021 . Now I consider anything but short term debt radio active. So same thing here. They may print lots of money, but it may not be you. Bail ins , taxes etc are all the tools out there they need for wealth transfer. We could certainly see short term cash crunches for “trouble makers” .
In the long term however, credit and money will expand.
Population displacement — interesting aspect to the charge is whether these are Russian ethnics being evacuated or Ukrainian ethnics moved across the border. Obviously the ethnic part is moot, and the border simply depends on who you ask.
Also interesting is that there are cases where the family as appealed for the return of the children — Russia has ruled in favor of the blood bond & return in all known cases.
Hell no “we” don’t matter and haven’t since we lost the “Republic” part of the so called “Democratic Republic” we were founded as. This happened when Saint Lincoln prevailed in the Great Cotton Tariff war that ended in 1865. States rights became as worthless as our dollar, backed by nothing but the military power of the federal government and one hell of a lot of gall.
Sit back and watch the implosion and if you haven’t hedged your economic bets with something tangible such as precious metals……….well you very soon won’t have to worry about dieting.
Thanks for the article Mr. Dreizin your efforts are much appreciated sir.
Risking inflation over massive bank failure is at least a sound choice. Its actually refreshing to know they aren’t completely off their rockers. This concept at the very least, buys more time. If the banks were to have collapsed it would have had ZERO to do with any kind of strategic plan. That’s where Mad Max drops by and erects Thunderdome in all of our communities. That is a very dangerous thing to tinker with especially knowing that there are two strong bulls in the pastor looking for payback.
Doesn’t matter how elite you think you are if you aren’t backed by a reasonably strong and competent military your Gold is worthless. I am sure Russia, China, Iran, etc got a hard on for some of our betters asses. No need to make any deals for anything just take what they have and put them down.
As a half-ass squirrel hunter myself had no ideal there was a 6.8MM. Thought you might have fucking around but nope. Assume you weren’t either when you remarked about your son’s education either. That one didn’t surprise me as much.
The ammo is expensive, it was about a dollar per round… 9-10 years ago, when I stocked up. Can’t even guess what it costs now.
As to the following:
“”This concept at the very least, buys more time.””
IMO, the outcome will play out more slowly, but the effect and end state will be largely the same. They literally can’t do anything good with the extra time. I mean, what have they done since 2008?
It’s all “baked in” already.
Simple, just ask Gov Max Headroom in Cali about it. Simply give everybody $5M, forgive all loans, free education and such. Presto Chango.
I will make this simple there will not be a digital currency and why because of crime. Drugs, selling sex, child trafficking all takes cash and a digital currency would trace it all. Criminals are not in the alley dark of night they are proper people and those in the dark alleys are the servants. This game is changing and the almighty dollar is in jeopardy as the bipolar world develops. Remember the USSR navy in dry dock cause the nation could not afford it well picture 10 aircraft carriers in dry dock. Either smarter minds prevail or they take us to war. If its war well none of us will be around for further replies. If god be real he sure takes his time to say WTF!
As I remember it Lt. Calley serve only 3 years house arrest (Officers Quarters)
at Fort Benning. Captain Ernest Medina should also have been convicted. But don’t forget that Major Collin Powell -Deputy G3 – was the investigator who claimed there was no evidence of a massacre. Of course Powell having gotten his ticket punched would go all the way & become a 4 star General & Secretary of Defense.
More on Lt. Calley:
The Last Child of My Lai — JEFFREY ST. CLAIR – Mar. 19, 2023
The My Lai Massacre, where American GIs murdered 502 unarmed Vietnamese civilians, occurred 55 years ago this week.
The “Battle Hymn of Lt. Calley” sold over two million records. Nixon had to transfer him from the stockade to house arrest to quiet things down. The Empire moved on.
Mark Twain: “If it mattered, they wouldn’t let us vote.
Another Jacob’s jewel — amazingly succinct truth:
Trump tried to take the rivalry in an exclusively economic direction….. But he was removed.
Nothing can fail. All investments are safe. Keep creating money with government spending and easy credit. Everyone’s gonna be rich.
Beg to differ on the proven war crimes only being of the USA persuasion. We’ve had some fairly high profile Australian ones too…with one behind bars at present just waiting for confirmation he’ll be there for the shortest period they can manage while the press are watching.
Rape specifically? Work on your reading comprehension.
I do remember a case of insubordination by an officer who refused to fire artillery into a favela during the 1989 Panama invasion. His defense appealed to Nuremberg’s rejection of the ‘befehl ist befehl’ excuse, to no avail.
Unfortunately, cannot find anything on the inter-tubes.
After I’ll finish my studies and I will get a job (hopefully, in programming) I will start supporting your work with money, and until then I will like your tweets. But just for the sake of curiosity, how does liking your tweets help you?
Thank you Sir , always a pleasure to read your articles . I like the comments section as well
After reading the Dreizin Report for almost a year I’m starting to have the right to share the air of this planet with him, LOL. The last 4 posts are 100% pure dose of intel information direct to the brain. Let’s give the man his credit, and buy him at least a very deserved coffe cup at https://www.buymeacoffee.com/jacobdreizd
Mr Dreizin, it’s not only your shitty US government… The clowns over the pond, here in Blighty, are ‘tatoes deep in their American paymaster’s pockets and will follow blindly. It ain’t my fight either buddy and I want NOTHING to do with it and I certainly do not want my kids, family, friends and countrymen fighting for a fake war without consent. Everyday I see the bullshit on our MSM. I appreciate your efforts to bring a true and considered view on this carp, thank you.