Bank failure rate increases.
For the past year, banks have been failing at a rate of about three per week. What has been odd is that it isn’t an average of three per week. It has usually been very close to three per week. There is something suspicious about that in-and-of-itself. Do you really think that banks have become insolvent in a linear manner? That is, each and every week three banks fail, then wallah! the next week three more? Hardly.
The damage done by the financial crisis has left hundreds (and many estimates put the number over 2000) banks insolvent. What you are seeing is a managed process of closing banks in an attempt to avoid a panic. What would happen to the managed psyche of the nation if over the next month 10 to 15 banks were closed each week.
Add to that the fact the FDIC does not have the resources (personnel or financial) to handle a closure rate much faster they are allowing and the number “3″ per week makes perfect sense. It is not reality however, and reality is something the PTB do not want the American people to have to face – until it suites their agenda and they need to take advantage of a crisis.
Something strange happened this week however. The failure rate more than doubled. Seven banks were allowed to be identified as failed this week. Sure is nice to sneak these others in while people are distracted with Christmas isn’t it? The lengths to which the PTB are managing our expectations of all things economic and political continues to grow. And while one week does not a trend make, it will bear watching closely. If the rate increase sticks, it will mean that 2010 will be a bad year for bank closings and that sometime during the year the sheeple will wake up and realize that OZ is pulling on levers that no longer have much effect.
Do you enjoy being manipulated? I know I don’t. It won’t end until the political and banking system in this nation change. Are you ready to join the effort?
Category: Economics, US Economy
Agenda – Grinding America Down (5 star!)
