Well, we gotta talk about the banking crisis again. The banking crisis is oh, it's a crisis. Yesterday we had several Executives and Republicans and Democrats freaking out with all their ideas about how to solve the banking crisis. I'm going to give you a quick Lowdown on what happened in Congress yesterday.

Spoiler alert Nothing but. more Interestingly, we're gonna see Donald Trump lash out about the banking crisis. That's interesting and we're going to talk about how Deutsche Bank was potentially manipulated via the credit default swipe uh, credit default swap skyrocketing that we saw last week on Friday which led to a lot of Shivers in the stock market, especially in the banking sector. Now be warned if if if if if Donald Trump upsets you, see this little Banner right here that says paid promotion is because I'm about to tell you you can still get life insurance in as little as five minutes by going to Vetcapping.com Life.

Apple Player Android pay for it All right? Banner Gone all right. Let's get started. So first yesterday, several Republicans a uh, freaked out over the Fdic's handling of Silicon Valley Bank in the crisis uh Chairman, uh Greenberg asked why did the FDIC reject bidders that might have taken over the bank before Regulators were required to, you know, basically jump in and the FDIC is basically like, look, you know there was too little time for people to do due diligence and we have restrictions on how long it could take for people to go through this due diligence. so we basically rejected some of the initial bids.

Keep in mind how the Swiss National Bank ended up resolving the Takeover of Credit Suisse. They basically told UBS look, pay this amount, agree to take this much in losses. You're buying this Fixer-Upper We will guarantee the next 15 billion dollars of losses. Just don't look too closely.

We know it's a toxic Bank Just please say you'll take it over and we will just give you more and more money until you say yes, that's how the Swiss pulled it off. Uh so. But anyway, so you're freaking out on both sides over here. Republicans Especially were freaking out in terms of why the FED didn't actually, uh, regulate these Banks earlier.

Uh, even though a lot of problems have been identified at Silicon Valley Bank, it's true, it's like, where was the supervising Yeah, there were inquiries and there were letters and there were complaints about Silicon Valley Bank in the past, but nobody actually dropped the hammer so they're kind of right about that. But then of course you had uh, both the sides split on whether or not we should have more regulation you had Elizabeth and I'm summarizing like a three or four hour event yesterday. Okay, and we're gonna do this fast. Elizabeth Warren Yesterday's like, all right.

Look, we need a whole lot more regulation and then Republicans are like but but is that fair to the bank, the barren Reckless and so that kind of gives you a little bit of an example of what you could expect to happen over the next two years in terms of new banking regulation. Absolutely nothing. Thank you. Congress Yes, of course, on one side, more regulation and on the other side, we're just not convinced.

Uh, anyway. and then of course there was talk about the FDIC having to take in billions of dollars in potential losses. Ultimately, the FDIC is going to likely pass that on to all the various different member banks of the FDIC which means your banking fees will probably go up. That is called corporate socialism, but it is what the FDIC is designed for after all.

So uh, it's not a terrible surprise. that's the point. It's kind of like an HOA everybody pays in and then if something go falls apart or something gets screwed up, well, then what happens. Well, then you end up uh, having HOA dues potentially go up.

Uh, because let's say the pool fell into a sinkhole and now your HOA dues have to go up because there's some kind of problem that happened anyway. So that gives you really a summary of yesterday's banking crisis discussion. It really wasn't worth watching I Hope you didn't watch the whole thing because what do you think? Congress is going to do nothing. Instead, let's now listen to Donald Trump though, daddy.

T Let's see what he thinks uh should happen. So here's an interview with Donnie T and uh, let's take a listening over to this and I can't even say strongly enough is incomplete channels. We have 60 percent of our country now living. Paycheck to paycheck CBS News Now says 25 of people in our great country are what they call Food insecure food they can't get Bare Necessities Recession Record Inflation Record our debt, our deficits.

You know why is this happen? How would you fix it? And would you have supported the bailout of Silicon Valley Bank Okay, ready. yeah, a lot of questions you're asking me I am I wouldn't have supported the bailout. The bank would have to get along by itself and maybe they could have. What happened with the bank's interest rates went too high and you know I had my own situation with Powell and I beat the hell out of him I was not a big fan of Powell I was he was recommended by some people I I didn't like them.

he's too interest rate happy. The argument about reducing all interest rates. we could actually if we had more supply of fossil fuels. Yes, those are not the most green right now, but we need fossil fuels to get to a green transition.

If we had a greater Supply and more energy. Independence We didn't reply rely on OPEC or OPEC Plus Or in the past Russia we had our own sufficient natural gas and oil Reserve store we could then help out Europe Maybe we could actually help reduce inflation Because remember, even though we measure inflation in two ways: Headline which includes oil and energy and food prices and Core which strips out oil, food, and other energy, you still have oil and energy as components of other items within core. Whether those are services like Uber Drivers who have to charge us more because the cost of gas is higher or less people are driving Ubers because the cost of gas is so high, therefore you have less supply of drivers and therefore you have higher uh pricing because that's how the Algos work on Uber less supply of drivers price goes up right. It's very simple, so oil prices do have absolutely trickle through the economy.

and I think Donald Trump raises a good argument that maybe we would have had less inflation had we had more energy. Independence Going into this crisis, it is a fair point. Those treasuries got crushed because Powell keeps raising interest rates. but that's up to Biden He's going to have to worry about that himself.

You know, in theory, how would you fix it? Uh well. I would have done a big number on Pal like it did I did I did a very big number. In fact, he wasn't budget. he wouldn't have given up eventually.

He eventually cut him so much that it almost goes to problem people said how come he's cut him He helped cut him almost a point immediately because he thought I was going to fire him. okay which some people said I had the right to do. Other people said, you know you know when you put them there rightfully they have to have some protection, etc etc. from a president.

But how much of this but I thought he was hurting the economy. You left this country for the first time in 75 years. we were energy independent, right? a net exporter of energy. Okay, we're going to be dominant.

Okay, okay and Europe right now could have used American energy. they could this winter, they could have used it so. but now Joe has cut back dramatically on domestic production of energy. Now we're important believable we're importing from Venezuela Saudi Arabia Last year their their big oil company made the most money they've ever made in history over I think it was over 167 billion dollars.

How much of that because? Doesn't energy impact? uh Trucking it impacts the price of goods and every store that we go to. So when Biden came in the first thing he did was end the Keystone Pipeline that I got approved. Okay, it was all approved. It also gave Putin a waiver on the Nordstrom too.

Okay, so Putin said because everyone said oh, I'm so nice to Putin Putin said if you're my friend I'd hate to see you as an enemy. He told me that I got along very well with Putin by the way, I'd be able to work that out it would have never happened in a million years and even the Democrats admit that. But if this thing isn't solved by the time we have the election which is possible it won't be and is also possible we'll be in World War III With these idiots that are doing what they're doing, you could end up in a nuclear World War which will make World War one and World War II look like Patty Cakes Okay, uh, this unbelievable because we have people that don't know what they're doing. But if it's not solved, I will have it solved in 24 hours with Zelinski and with Putin and there's a very easy negotiation to take place.

but I don't want to tell you what it is because then I can't use that negotiation. It'll never work. but there's a very easy negotiation to take place. I will have it solved within one day.

A peace between them. Now that's a year and a half, that's a long time. I Can't imagine something not happening. The Chairman the key with that is the war has to stop now because Ukraine is being obliterated.

You know whether it'll be nothing else. Well I Looked at pictures of cities that are literally like it's like complete that demolition. I Was in the construction business, You would demolish a building and you'd it looked like hundreds of these demolition sites. The Bill: There wasn't a building standing and these are cities for Ukraine They were big cities.

very big cities. Now he hasn't really in. Kiev He hasn't really set the missiles in, but at some point he'll do that one too. There's nothing standing.

The other thing is, many more people are dead and horribly injured. Then they're reporting. You know when you see missiles hitting 15 buildings at 15 buildings falling to the ground and they're big buildings. There are a lot of people in those buildings and then they say one person was injured.

These are phony reports. many many people are being killed that you don't know, but you'll see that later on so you'd prefer. If you were president, you'd think you could. You would have a negotiated settlement and within 24 hours and we wouldn't no longer be poning up all the money.

That by the way, western Western Europe is not doing their fair share. What's unfair you and I have had this conversation is that we are spending. We're up to almost 150 billion dollars and Europe's at 24 billion dollars. Now it's the same thing with NATO.

Don't forget I got them to put up hundreds of billions of dollars. My first meeting at NATO you know I was just there, never did this before I'm sitting with all these presidents and prime ministers, nice guys, 28 countries and I'm looking at the charts I said could I see who's delinquent because they're supposed to pay and they say what do you mean by delinquent They said that's a real estate term. When you don't pay your rent, you're delinquent. Could I please see uh, who has not paid and of the 28 countries, 20 were not paid, they weren't paying and I said you have to pay and if you don't pay I'm not going to protect you and ahead of a very important country stood up and said who is delinquent said could I ask you if we don't what you're saying if Russia attacks us and we aren't paid up, you're not going to protect us I said that's exactly what I mean.

All right. So that gives you a little bit on Donnie T here Now I Want to give you some reactions to this because first of all, I have to say there's something that Donald Trump does whether you like him or not. That as Ben Mulla said in my interview with him just a few weeks ago, Donald Trump has a way of inspiring hope in people that somebody like, Unfortunately, in the opinion of Ben Mala Ron DeSantis may not. Now here's the way you have to look at what just happened here: Is it realistic that Donald Trump could negotiate peace between Russia and Zielinski within 24 hours? Unlikely, but did it Inspire Hope Well, if you hate Donald Trump it probably inspired you vomiting, but that's okay.

You could get life insurance in as little as five minutes and help solve that problem. But if, uh, if, if you don't hate him and at least you're somewhat neutral relatively, maybe somewhat still. a little. At least there's this like huh it kind of makes you think like is would is it possible? Like if if Joe Biden well maybe not Joe Biden But let's put it this way: if if Obama okay if Obama right now had a corridor like a hundred percent safe Corridor where in one room there was Putin and in the other room there was Zelensky and Obama's like, all right I'm just gonna keep going back and forth until I got to stop.

We're gonna solve this problem. All right everyone. Thank you bro. All right this is bad.

but anyway, the point is, maybe it would get done now I Want to be very clear here what Donald Trump is using is hyperbole. He is not actually saying with certainty he could end the war in Ukraine and Russia in 24 hours now. even though he's saying that, he's not saying it absolutely and he's not saying it in a way where people should actually believe it. But what it's doing is it's inspiring.

the urgency it's sending the signal that I Donald Trump will make this a top priority. and if I don't get it done in a day, then fine. Maybe I'll get it done in two days or a week, but it's certainly not going to be years. That's what he's inspiring and he's doing that by using hyperbole, that is, He's exaggerating I'll get it done in 24 hours and he's highlighting the difference between him and other contenders like Ron DeSantis who initially said this was just sort of a territorial dispute or Joe Biden who's kind of quiet on it.

Other than let's send more money to Zanski right, which is becoming somewhat of a politically divided issue, so it's something to pay attention to. This isn't to say that Donald Trump is the candidate. It's not to say that he could just go on TV and lie, lie, lie about how he's going to do all this stuff and then not do it like, in fairness, where's his health care plan? It never happened when he was in office, right? Kaylee Mcenany famously held up all these 400 pages that had no substance. There was no health care plan, so you also have to balance this with a lot of stuff.

he says. He just says to get elected in fairness, but from a voter's point of view, it creates inspiration. It agree, aggravates frustration with the status quo, and it makes people want change. So what Donald Trump does is he actually inspires that hope.

He instills hope that, well, maybe there there would be a way to save people's lives and the cities and the buildings that are destroyed. Maybe maybe there is a way to avoid World War III because nobody wants that. we don't want you know. World War One and two to look like Patty Cakes that sounds terrible you.

you get introduced to hope that you didn't even realize could exist and that motivates people to vote for Donald Trump Think about this. he says quote: I would have done a big number on Powell I've done it before I Had him under the threat of firing him. He was so scared he ended up cutting rates. Now, what's interesting is we don't know if Powell ended up cutting rates in 2018 because the market and bond market were freaking out or because of Donald Trump's threats.

but Donald Trump was threatening to fire him in the second half of 2018. I Remember covering it here on YouTube I Remember it very clearly and everybody's like, you can't fire him. He's like I'm a firearm. Technically, there's supposed to be a division between, uh, the Federal Reserve and politics.

Technically, the Federal Reserve is supposed to be apolitical. It gets appointed and authorized to do its job by Congress, but it's technically not a part of the government. It's supposed to be independent. This is, despite the fact that The Financial Times just yesterday was reporting that Jerome Powell and Janet Yellen are basically trying to align their messaging on banks.

Which is a problem because Janet Yellen is basically a puppet of the Biden Administration which is a political office. And if Jerome Powell is trying to align with Yellen, then you have political alignment. So it's It's a very, very blurry line. But the what else did Donald Trump say? Well, he said we shouldn't focus on rates, we should just focus on lowering the cost of oil.

How about we drill more? How about instead of banning the Keystone Pipeline we just have more energy Independence So we make some really good points and I Hate to say it. but if you took Donald Trump right here out of context and you ignored all of the past, all his faux pas Jan Six all the investigations, The Stormy Dance. If you just ignored all of the past and you took that clip and put it next to a clip from Biden and a clip from DeSantis right now, Donald Trump would win That it was very inspiring. So you know I'm not a Trump apologist.

Okay, by any means like I I Do my best to be very in the middle, but I actually think the way he he presents this information, he brings up ideas that really, we're not talking about as much as we should. You know the idea of more energy Independence The idea of how maybe more energy Independence can help us reduce inflation. It's logical, but it's not one that gets talked about a lot. The idea of why don't we have a world leader actually trying to negotiate peace in the United States is in the best place to do it.

Whereas we're not even remotely trying to negotiate with him, are we handcuffed to the military industrial complex which is telling us no, no, no, no, don't negotiate peace. We like the orders I don't know, it's it's very interesting, it's It's very, very interesting. So uh, I think uh I Think that that's a good little analysis there on the Trump part now. I Quickly want to talk about what happened with those credit default swaps regarding uh, the banking crisis I Do think Trump By the way, saying that Silicon Valley Bank should just fail I Don't think it would have been as bad as people think because basically the bank would have gotten bought out at a discount, it would have gotten liquidated and then depositors would have taken like a 10 to 20 haircut.

It might have created more fear and contagion and that's just the unknown. But it's like not like people over the FDIC limit would have lost all their money. It would have been a percentage you know, 10, 20, maybe as much as 30, but not more. We'll never know anyway.

Uh, on Friday we did see credit default swaps for Charles Schwab Skyrocket. However, it's uh, worth noting that fewer than 20 percent of Charles Schwab's depositors actually exceed the 250k FDIC limit. Ninety percent of depositors at Silicon Valley Bank exceeded the 250k limit. That's why there was so much like political drama about protecting depositors here.

Uh, Charles Schwab has 34 million accounts, 7 trillion assets. It's literally Huge. Yeah, they've got 29 billion dollars in unrealized losses, but with bonds rallying that actually has been falling. Uh, they suggest they have enough liquidity to cover deposits right now.

Of course they're considering also other assets that they would have to liquidate. You don't have enough cash to cover deposits ever at a bank. Uh, but uh, Schwab seems pretty strong. Uh, that's Charles Schwab Uh, we're supposed to talk about Deutsche Bank But let me get this out of the way.

Some people have been asking me about it. Uh, 51 of their income comes from net interest Revenue their sweep account and pays just point four five percent. Uh, but uh, the bank seems pretty strong right now, so people bringing up questions about Schwab probably, uh, unnecessary to worry about Schwab at this point. TBD though we can keep an eye on it regarding Deutsche Bank Same story: their revenue is increasing.

their profits are increasing. so Schwab is actually doing fantastic. uh, or sorry. Deutsche Bank's actually doing pretty dang well over the last few years if you look at their financials.

a Deutsche Bank Had credit default swaps Skyrocket on Friday Apparently the reason for that was a single trade one. Trader We don't know who it is, but one person put on a five million dollar bet and because these are so illiquid, they LED credit default swaps to Skyrocket on Friday sending a signal to markets that was actually inappropriate. one Trader made a bet, freaked out the market that Deutsche Bank credit default swaps were skyrocketing which is an insurance against failure and all of a sudden the entire Market gets you know it's panties in a knot thinking oh my God the banking crisis is worsening. Collect me, it was one freaking Trader So it's kind of interesting to look at that so long and short of all of this.

Trump Uh, we talked about long and short of the banking crisis so far: Does it really seem to be widespread systemic risk outside of the risky banks? No. Is this issue potentially going to fade away? Yes. Could there be other issues? Yes. Do we see those red flags now? No.

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