What in the world was she thinking? When a bailout was hastily arranged for uninsured depositors at Silicon Valley Bank and Signature Bank, the implication was that the same thing would be done for uninsured depositors at any other banks that failed. But now U.S. Treasury Secretary Janet Yellen is telling us that is not actually what will happen. She just admitted that depositors at a failed bank will only be protected if officials determine that a “failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences”. So that means that depositors at big banks are likely to be protected and that depositors at small banks are much less likely to be protected. In other words, Janet Yellen just poured lighter fluid on every small bank in America.
Why would anyone keep more than $250,000 in a small bank at this point when there is a very real risk of losing all of the uninsured money if the bank suddenly fails?
Wealthy people are not stupid. They are going to move billions of dollars from small banks to large banks in the days ahead, and that is going to cause a tsunami of stress on those small banks.
Does Janet Yellen even understand what she just did?
During congressional testimony on Friday, Senator James Lankford asked Yellen the sort of question that many of us have been hoping that someone would ask…
Republican Sen. James Lankford of Oklahoma pressed Yellen about how widely the uninsured deposit backstops will apply across the banking industry.
“Will the deposits in every community bank in Oklahoma, regardless of their size, be fully insured now?” asked Lankford. “Will they get the same treatment that SVB just got, or Signature Bank just got?”
Incredibly, Yellen came right out and admitted that uninsured deposits will only be protected under certain circumstances…
Yellen acknowledged they would not.
Uninsured deposits, she said, would only be covered in the event that a “failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences.”
If your bank fails in the days ahead, bureaucrats in Washington will get together and take a vote to determine if the uninsured depositors at your bank are important enough to protect or not.
Needless to say, that means that wealthy individuals with very large balances at very small banks are at great risk.
Senator Lankford clearly understood that Yellen and her fellow bureaucrats have now created a two-tier banking system…
“I’m concerned you’re … encouraging anyone who has a large deposit at a community bank to say, ‘we’re not going to make you whole, but if you go to one of our preferred banks, we will make you whole.’”
If you have not seen the exchange between Lankford and Yellen yet, you can view it here…
Here is the snippet: pic.twitter.com/85iBeXC0Wn
— Seidler (@SeidlerCorp) March 17, 2023
We are in so much trouble.
Prior to Yellen’s testimony, banks were already being forced to rely on the discount window at the fastest pace that we have ever seen…
Data published by the Fed showed $152.85 billion in borrowing from the discount window — the traditional liquidity backstop for banks — in the week ended March 15, a record high, up from $4.58 billion the previous week. The prior all-time high was $111 billion reached during the 2008 financial crisis.
The data also showed $11.9 billion in borrowing from the Fed’s new emergency backstop known as the Bank Term Funding Program, which was launched Sunday.
But now this stampede threatens to evolve into an avalanche.
There are more than 4,000 banks in the United States right now, but if our leaders are determined to only protect the biggest institutions we could ultimately see hundreds of them fail.
Unless something changes, I cannot recommend keeping more than $250,000 in any small or mid-size bank.
Of course the vast majority of us do not have to worry about such things, but those that do have lots of money are paying very close attention to what is happening.
In fact, on Friday investors once again pulled lots and lots of money out of banking stocks…
Stocks fell Friday as investors pulled back from positions in First Republic and other bank shares amid lingering concerns over the state of the U.S. banking sector.
The Dow Jones Industrial Average lost 384.57 points, or 1.19%, to close at 31,861.98 points. The S&P 500 slid 1.1% to end at 3,916.64 points, while the Nasdaq Composite was down 0.74% to 11,630.51 points.
First Republic slid around 33% to end the week down nearly 72%.
I had hoped that the banking panic would settle down a little bit after the emergency measures that were instituted.
But now there is a great risk that the panic could escalate significantly.
Many are warning that this crisis could eventually grow to be even worse than the last financial crisis. For example, Dave Kranzler believes that what we are facing “will be 2008 x five unless the Fed and the other big Central Banks print enough money to monetize the fraud in the banking system”…
I believe what is starting to unfold will be 2008 x five unless the Fed and the other big Central Banks print enough money to monetize the fraud in the banking system. But if the Fed takes that kind of action, the dollar will likely collapse. It may take bigger blow-ups for the Fed to act. In which case, I am confident that Blackrock (BLK), Citigroup (C) and Goldman Sachs (GS), among several others, are at risk.
You may not have any sympathy for the banks.
But a healthy banking system is absolutely critical for our economy as a whole.
For a moment, just imagine what our system would look like if nobody could get a mortgage, an auto loan or a credit card.
Relatively few people pay with cash or checks these days, and that is especially true for major purchases.
If banks start failing, the flow of credit will start drying up, and we will plunge into a full-blown economic nightmare.
So you better hope that our leaders can find a way to prop up our rapidly failing system.
Because economic conditions are already bad enough. In fact, earlier today we learned that leading economic indicators have now fallen for 11 months in a row.
We are already in the midst of a substantial economic downturn, but if banks start collapsing left and right we will soon find ourselves in an economic horror show.
So I don’t know why Janet Yellen did what she just did. It is madness.
She just put a target on every single small bank in America, and so now uninsured deposits will likely get pulled out of those banks at a rate that is absolutely breathtaking.
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Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.
She/they know exactly what they’re doing. Destroy the banking system (fiat) to usher in the CBDC. Buckle up buttercup!
Old Yeller is much like Fraudci, been in government way too long to do anything for Main St and the peasants. While the talk is about the $250,000 FDIC insurance protection, FDIC simply does not have the reserves to make payouts to depositors in the event a run on the banks. Depositors may get a few pennies on the dollar and wait 30 years for the rest. So, move your money to a bank TOO BIG TO FAIL? Frank Dodd prevents another bailout for big banks like 2008. So, what does a big bank do? It seizes customer deposits as unsecured loans called a “bail in”. Last year, B of A and JPM were listed as most likely to do bail ins. For now, I stick with my local banks, thanks.
I said this from day one. They’ll never bail out regular citizens’ accounts–only those of Democrats and their corrupt cronies in their criminal banks (FTX, SVB, Signature…). After that, they’ll say the well has dried up. This is just the continued pump and dump of America by traitors and Satanists.
I pulled my money out of Chase when I learned that banks no longer hold deposits in trust, but depositors are treated like unsecured creditors that automatically get put at the back of the line. Secured creditors get preference.
I got out of the Fed System and FDIC. You are right, the reserves at FDIC don’t begin to address a massive run on banks.. I found a local credit union that had open enrollment, that had been open 80 years in my community and placed my money there.
Credit unions are owned by their members. All deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund, (NCUA) with deposits insured up to at least $250,000 per individual depositor. Only premium paying credit unions can access the fund. BIG BANKS and the TREASURY DEPARTMENT can’t “raid” the the NCUA. The federal insurance is required but its effect is similar to having flood insurance in the desert. No insured deposits have not been paid and the credit union can’t “bail in” on itself.
The FDIC rule is not $250k insured per bank.
It’s $250k per account.
So spread your cheese between multiple accounts at a smaller bank. It’s all still insured.
Screw the big banks.
So, just don’t use swiss cheese, it’s full of holes…
Any financial wizards out there know how this will effect credit unions?