A Positive and Hopeful Sign in the Banking Crisis by Jacob G. Hornberger!
(2023-03-27 at 21:16:09 )

A Positive and Hopeful Sign in the Banking Crisis by Jacob G. Hornberger!

Throughout the time during which Silicon Valley Bank and Signature Bank were going under, United States officials were steadfastly assuring the American people that the United States banking system "remains sound and resilient." The purpose of the assurances was to discourage people from withdrawing or transfering their deposits from smaller, regional banks.

An article at CNN Business this past Saturday pointed out that despite those repeated assurances, "Deposits at small United States banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday by the Federal Reserve showed. Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15, which was more than twice the previous record drop and the biggest decline as a percent of overall deposits since the week ended March 16, 2007."

In other words, many United States of American depositors obviously did not believe all those assurances about the "soundness and resiliency" of the banking system. They obviously believed that United States officials could be lying to them. They did not want to take a chance on that possibility and lose their money.

And let us face it: If the banking system is not, in fact, "sound and resilient," there is no possibility that United States officials would tell the truth to the United States of American people. They would lie in order to discourage people from withdrawing their money from banks.

I consider the withdrawal or transfer of those deposits in the face of all those assurances of the "soundness and resiliency" of the banking system to be a very positive and hopeful sign.

It indicates that perhaps a large number of United States of Americans are no longer sheeplings that place their blind trust in the fox.

Now, if people can just transfer that healthy skepticism to the Pentagon, the CIA, and the NSA, we might well have a good chance of putting our nation back on the right road - toward liberty, peace, prosperity, and harmony with the people of the world.

Reprinted here with permission from Mr. Jacob G. Hornberger of The Future of Freedom Foundation!! Their Libertarian Website!!