Biden and the Bank Crash – Why Biden’s Green Energy Push is Driving US Banks into Insolvency

https://wattsupwiththat.com/2023/05/05/biden-and-the-bank-crash-why-green-energy-drove-banks-into-insolvency/

The only remaining question, how were banks caught so flat footed by the fall in in the value of their bond holdings? Banks have access to financial instruments such as put options and futures, which could have been used to hedge (insulate) their bond holdings against inflation driven loss in value.

There is only one explanation which makes sense to me – the banks which are currently suffering distress miscalculated, they weren’t anticipating that inflation would be so bad. Perhaps some bankers actually believed Biden’s green energy transition would succeed, and positioned their portfolios in anticipation of that success. Or perhaps they thought Biden was lying about his commitment to Net Zero.

Whatever the explanation, the blind faith of bankers in their market forecasts, combined with Biden’s reckless and inflationary green energy policies, have brought the American financial system to the brink of disaster. But sadly this is the nature of systemic banking failures. The hard lessons are always learned after the fall.

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    Mike Maguire             

        May 5, 2023 8:11 pm                

"The FAKE Inflation Reduction Act is in fact, Inflation CAUSING legislation.

It’s the Climate Bill renamed to something that it’s the complete opposite of to blatantly deceive the American people.

$369 Billion of the bill’s total $430 billion in new spending goes toward aggressive, direct, climate actions. About 80% of the $369 B is tax credits for solar, wind and nuclear energy.

What happened was that Biden and company had been trying to sell the Climate Bill by convincing American’s that it would help “save the planet” from the FAKE climate crisis (which is really a climate optimum for most life thanks to the increase in the beneficial gas, CO2 which is greening up the planet).

Then, massive inflation hit Americans and inflation became their biggest concern.

Easy way to fix that.

Take the Climate Bill and don’t change a thing………except for the name.
Rename it the “Inflation Reduction Act” and make up a false narrative that it will reduce inflation.

Comes from the same playbook as hijacking climate science and telling people that the increase in CO2, the building block for life that’s greening up the planet during this climate optimum……..is pollution which is killing the planet.

Telling us that we must eliminate the true green energy, fossil fuels that are massively increasing food production from CO2 fertilization (which is still only 50% of the optimal level for plants) and replace them with this FAKE green energy to save it.

Telling us that we must convert to energy sources like wind and batteries. A diffuse, intermittent energy form that’s killing birds/bats/whales. Destroying landscapes/nature and ripping up the earth to obtain the raw materials. Those monstrosities only last 20-25 years, then they pile up in landfills.

So we need to wreck the planet in order to save it from the FAKE climate crisis!

Oh, just coincidentally, crony capitalists and corrupt politicians/governments will reap tens of trillions this decade from these actions as we wreck the planet to save it.

Making sure that corrupt science will continue to be rewarded with lucrative funding and favorable career opportunities for giving the FAKE climate crisis markets the science that the climate charlatans need to perpetuate the self enriching FAKE climate crisis schemes."