• Jim Costa

Jim’s Rant For The Day. The Bankers' Deathbed Make A Wish Contest.

In Yesterday’s Scott McKay interview with Economist Dr. Kirk Elliot, explosive news was revealed regarding the solvency of the banks. Elliot pointed out that in December of 2020 the FDIC required 15 extremely large banks to have a plan prepared by this December to act as their bankruptcy plan, although it wasn’t labeled as such. But in my experience it is a bankruptcy resolution plan.

So lets look at the questions that should be raised. He cited the bank names and although they weren't the big Wall Street icons, they are huge global and national banking entities that support our banking system. They are all tied together. So did these banks file formal bankruptcy? I doubt it or we would know. I suggest the banks asked them not to to file for protection in exchange for their cash support for a year, buying the entire banking system a year to save itself.

Note that the resolution plans required of the big 15 must be in compliance with Federal Bankruptcy statutes. Therefore, my suspicion is perhaps the Big 15 planning is being watched by the other banks in the system to see how they intend to survive. As a collective, all banks will then try to adopt and cram down the public’s throat the “Bankers’ plan" to ride off into the sunset with much of the loot.

See: Interview

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