from Silver Report Uncut:

Fed Hand Out For The Banks, & Jamie Dimon Warns Of A Financial Crisis Like 2008 & Bad US Recession

VIDEO:

The Fed has decided to open a new facility to funnel even more money to the Big Banks using the stimulus PPP loans as collateral. The program has been off to a rocky start as the websites have been going offline for the small banks and credit unions while the loans that have been originated have passed through only the largest lenders. The largest banks in the US are already raking in 10’s of billions of dollars in interest and the capital is sourced from the US treasury. We know that Mnuchin recently doubled the interest the banks will receive from American small businesses but it is the smallest businesses that will be charged a 5% interest on what was explained was to provide relief. I’m still not sure why the banks need to be involved in this at all since the Fed is buying the loans the Treasury is providing the capital that means the Banks are just taking the interest from the working men and women in the US. Jamie Dimon the CEO of JP Morgan has emerged in his letter to investors to warn He anticipates the US will have a Bad Recession at a minimum with financial stresses that could prolong to effects like the 2008 financial crisis and JP Morgan is not exempt. This is what concerns me the most because if this is going to be like 2008 if you recall JP Morgan needed a bailout. The biggest difference this time is that we now have bank bail-in laws in place as opposed to the great recession.