BANKS ARE TOO BIG TO FAIL, BUT THEY STILL WANT TO CONTROL YOUR LIFE
By Dave Funk, President
Banks are too big to fail? Where have we heard that before? On Friday, Mar 10, 2023, federal banking regulators stepped in and took over collapsing Silicon Valley Bank in California. Once again, those in the banking industry, and SVB depositors are demanding that all depositors be fully protected by the Federal Deposit Insurance Corporation.
In short, that means you bail out the big guys, again.
Of course that same bank, and the big tech investors that own and run it, are heavily invested in Environmental, Social Governance (ESG) as a way of life. Note that SVB leadership was also quietly cashing out millions in stock in the bank in the weeks and months prior to its collapse. While none other than Jim Cramer over at CNBC was hawking SVB stock as a great investment just two weeks ago!
We can all point to the Federal Reserve demanding that all banks buy literally trillions in zero interest bonds over the last few years. These are the very bonds that have dropped in value due to the rapid rise in interest rates during the last year, further stressing every bank and business in America. Gross incompetence seems to be among the issues with SVB, in that their risk management people are morons by failing to stress-test for mortgage interest rate increases. But what else would we expect from incompetents more interested in equity, instead of excellence?
How does this affect IFC members, and Second Amendment supporters you ask?
These same banking lobbyists in Iowa are demanding that Iowa Governor Kem Reynolds’ proposed anti-ESG bill be gutted and that those banks can continue to discriminate against lawful Iowa businesses in agriculture, oil production, and firearms. Because of course Environment, Social, and Governance! If your Communist Party of China inspired social credit scores do not meet those banks’ ESG standards, they will cut you off and cancel your accounts. They have done it before and are still doing it in Iowa. They will only reach further if we don’t tell them to pound sand.
If you want to do business in Iowa, then you cannot be allowed to discriminate against any Iowan, period. Help IFC protect all Iowan’s by joining today.
Oh, and just in case someone tells you something is too big to fail, remind them about the millions of things in the ash heap of history that did. Nothing short of God’s love for all of us is too big to fail.
Shoot Straight, Speak The Truth, and Never Surrender Our Liberties.
Iowa Firearms Coalition
When a society extinguishes consequences, you get More of what you don’t want, and Less of what you do want! Firearms insure a civil society!