“US Treasury Secretary Janet Yellen warned Friday of a possible US debt default on June 5 if Congress fails to raise the ceiling on borrowing, updating a previous estimate of June 1. “Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5,” she wrote in a letter to the Republican speaker of the House of Representatives, Kevin McCarthy.” https://insiderpaper.com/yellen-updates-us-debt-default-deadline-to-june-5/#:~:text=US%20Treasury%20Secretary,Representatives%2C%20Kevin%20McCarthy.
186 More Banks “Are At Risk Of Failure”, And That Could Push Us Into The Next Great Depression
They are desperately trying to plug one leak in the system after another, but what happens if the entire system suddenly comes crashing down all around them? Back on January 4th, I specifically warned that our problems would “greatly accelerate over the next 12 months”, and that is precisely what has happened. We are now in the midst of the most severe banking crisis since 2008, and it could soon get a whole lot worse. We have already witnessed the second and third largest bank failures in the entire history of our nation, and now it is being reported that 186 more banks “are at risk of failure”…http://theeconomiccollapseblog.com/186-more-banks-are-at-risk-of-failure-and-that-could-push-us-into-the-next-great-depression/
On the heels of Silicon Valley Bank’s collapse earlier this month, 186 more banks are at risk of failure even if only half of their depositors decide to withdraw their funds, a new study has found.
That is because the Federal Reserve’s aggressive interest rate hikes to tamp down inflation have eroded the value of bank assets such as government bonds and mortgage-backed securities.
“The recent declines in bank asset values very significantly increased the fragility of the U.S. banking system to uninsured depositor runs,” economists wrote in a recent paper published on the Social Science Research Network.
2 Timothy 3:1
But know this, that in the last days perilous times will come:
1 Corinthians 15:1-4
Now I make known to you, brethren, the gospel which I preached to you, which also you received, in which also you stand, by which also you are saved, if you hold fast the word which I preached to you, unless you believed in vain.
For I delivered to you as of first importance what I also received, that Christ died for our sins according to the Scriptures, and that He was buried, and that He was raised on the third day according to the Scriptures,
For by grace you have been saved through faith; and that not of yourselves, it is the gift of God; not as a result of works, so that no one may boast.
Oil from U.S. reserves head overseas as gasoline prices stay high
Reuters: More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month…