2023 Banking Crisis - Covid connection (General)

by dulan drift ⌂, Monday, March 27, 2023, 08:12 (483 days ago) @ dan

I'm appreciating this thread as an explainer of what's going on with the banking crisis. It has the hallmarks of something that bubbles away & we're kinda aware of it, but not the extent ... then it inexorably swamps everything. Probably the same pattern as every great crash in history.

Interestingly, from watching the video you posted, SVB had its most profitable year on record in 2021! Due to Covid. Amazing how quick it went from there to collapsing.

I'm leaving the info collation on the banks up to Dan, but this is a tangent thought: i can see a parallel between a major bank bail-out & the bail-out of THE Experts over Covid.

They both fall into that too big to fail category. The rationale in bailing out depositors in big banks (over small ones) is to prevent the spread of contagion through the system. We could end up with a run on banks generally & total collapse of our house-of-cards economy. As Dan pointed out, the main lever for doing that is to print more money.

The same thing happened with Covid. A major THE Science cohort fucked-up by engineering then allowing Covid to be released (one way or another) - namely EcoHealth Alliance(Daszak)/WIV(Shi Zheng-li). But instead of letting this group crash & burn, it was decided that they needed to be bailed out to prevent contagion spreading through an increasingly centralized THE Experts system.

Scientists/health experts/security experts have long enjoyed a high-level of trust from the public, which has enabled them to operate without accountability - we don't really know what they're up to, but we trust them to do the right thing. Trust is the magic ingredient. It keeps their work hidden behind a curtain, & lets them get on with their secret real world work of shaping the future - for all of us. So the absolute last thing you need is a run on Trust.

This run-on-trust is what was at stake when an engineered coronavirus got loose. A global-trust-meltdown simply could not be allowed to happen. A slightly discordant note i noticed when researching the Prox-O pangolin paper was that head-author, Kristian Andersen, hated Peter Daszak - he thought he was a fool - but he swallowed that contempt in order to save his arse - coz he knew of the contagion ramifications. As with the banking crisis, it also provided a golden opportunity to further centralize operations.

Whereas in the case of a major bank collapse, the govt may choose to print more money to paper over the problem, in the case of a major science Org fucking up, the method is to print info-BS - hence the media's involvement. This potential contagion is not limited to the science community - it can spread all the way through the whole expert system that underpins established world order, so all big players are easily persuaded to get on board.

It remains to be seen how it will work out in the end. Will that run-on-trust be shored-up, or will it all come crashing down in the end? Personally, my trust in THE Experts, which i used to have, is now stone-cold dead. I see signs of that spreading through the community, but i also see signs of it being swept under the carpet with the we've all moved on sentiment taking hold.

At the end of the day, it will likely boil down to economics, which makes the banking crisis one to watch. If people can continue on in a relatively economically stable path then concerns over the origin of Covid will probably diminish as they get back to concentrating on their work, family, entertainment fare ...

But if that economic stability goes, then that will signal brown-corduroys time for our global handlers.

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