by Tom Renz, Esq., America Outloud:
Once upon a time, long, long ago, I ran a credit union for a number of years, and I learned quite a lot about banking while there. Once a bank is established, they do very little and essentially make money out of thin air. Shuffling numbers from one spreadsheet to another and watching them grow is pretty much the gig. I’m not the kind of guy that’s good just sitting around doing nothing, and I hate golf, so I spent an immense amount of my time studying the business while there. From both a regulatory and legal perspective, I am well-versed in the world of banking.
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Banks are required by law to know how much risk they are accepting, but their goal is always to find ways to maximize their profits while staying within their compliance guidelines. Silicon Valley Bank didn’t just wake up and spontaneously melt down; their investors, Black Rock, and Vanguard, as well as their executives, knew this was happening for a long time. This has all been planned, and now we have the two largest crypto banks also collapsing/being shut down. What we are witnessing is a war not only on American currency but crypto as well. They must collapse it all in order to promote Central Bank Digital Currency (CBDC).
The bank bailouts from the feds will ensure that inflation continues to spiral out of control for the next few years. When the feds step in and say they will insure all of the accounts, it means they will be printing a monumental amount of money. Worse, they can’t do this for some banks but not others, or else they get into serious equal protection issues, so all banks will be incentivized to take unnecessary risks to remain competitive. This will result in inflation on a scale we’ve never even come close to in the past. The feds are totally ok with printing a ton of money as it will crash the economy quickly and effectively so they can usher in CBDC.
Another important piece of their plan that is taking place right now is legislation that they are pushing in multiple states. Thankfully Kristi Noem in South Dakota recently vetoed a bill that was designed to make CBDC possible. However, they are trying to sneak these bills in everywhere, especially in red states. Do me a favor and look into the proposed bills in your state, and if you find one that is on banking, I guarantee you it’s designed for CBDC. We have to stop these bills from going through immediately; if we lose this fight, we lose everything.
In Missouri, look at bill 1165 closely; I had the pleasure of reading this 103-page bill and can tell you it was physically painful to go through. Understand that these CBDC bills are frequently being handed to republican legislators who are told by leadership to file the bill. The bills look innocuous, and unless you really understand what you are looking for, you will not recognize them as promoting CBDC. Within HB1165 (not to be confused with HB1169, which requires informed consent and which I support – despite RINO opposition), there are quite a few changes to Missouri law. These important changes were quite expertly crafted to facilitate CBDC without actually talking about it so republicans could be fooled into filing the bills. A great example is this new definition of “money” found on page 5:
“‘Money’ means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.”
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