Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
By Pam Martens and Russ Martens: May 11, 2022 ~ As a result of the Dodd-Frank financial reform legislation of 2010, the U.S. Treasury Secretary chairs a key group of banking and Wall Street regulators called the Financial Stability Oversight Council – pronounced F-SOC for short. The idea behind F-SOC was that Wall Street’s insane binges into things like toxic subprime debt and credit default swaps would never again be allowed to sneak up on snoozing government watchdogs, take down the U.S. economy and put the Wall Street megabanks on a long-term feeding tube from the Fed as occurred from 2008 to 2010. Yesterday, the Senate Banking Committee held a hearing to take testimony from Treasury Secretary Janet Yellen on F-SOC’s annual report to Congress and what F-SOC sees as the biggest threats right now to financial stability. There were numerous fireworks during the hearing, including when Senator Tim Scott, a … Continue reading