I'll admit .... I don't know much about this whole banking fiasco ..... So, that leaves me looking for a reliable source of true information.
Does anyone know if this is true?
View attachment 139422
"
Is This a Bailout?
The powers that be insist this is not a bailout. But it is absolutely a bailout.The plan creates a mechanism for banks to acquire capital they couldn’t otherwise access under normal market conditions. Meanwhile, uninsured depositors will get their money back.
The government can plausibly claim it is not bailing out SVB or Signature Bank. Both institutions appear to be doomed. But the government is bailing out uninsured depositors and it is setting the stage to bail out other banks that would have suffered the same fate without the loan program.
In effect, the loan program and deposit guarantee signal to other banks that they have nothing to worry about. It also calms the public and lowers the likelihood of bank runs.
Will Taxpayers Foot the Bill?
The powers that be also insist this won’t cost taxpayers. Agins, in one sense, this is true. The US government isn’t going to raise taxes. And the only way the taxpayer would be directly implicated is if any of the banks taking loans defaults and Fed taps into the $25 billion in credit protection extended by the US Treasury. But as Peter Schiff pointed out in a tweet, the taxpayer will be on the hook for the inflation tax. "
According to @POTUS the government bank #bailout won't cost taxpayers any money. That's a lie. While it's true that no one's taxes will be raised to pay for it, the #Fed will print lots of money to cover the cost. That's #inflation and everyone will pay higher prices as a result.
Schiff: Federal Reserve Launches "QE Extra Lite" To Bail Out Banks | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com