Hello fellow Rebel capitalists, hope you're well.

So the bank bailouts continue.

If you look at these few charts, we're going to go over them right now.

Let's head over to my Twitter feed,

and you'll see exactly what I'm referring to. This is a chart that I

retweeted. I think I got this from Sven Heinrich, I think is his name. I think he

goes by Northman Trader. And this is the bank term funding program.

We all remember that from March of 2023.

That was the Fed's new facility they had to create,

even though just before that, they said they had all the

tools necessary to combat a banking downturn I guess not but that would be represented by

this blue line and what this gentleman was trying to point out is the

correlation between the S&P 500 and the blue line. Now I would argue that there

really isn't a correlation as far as mechanics and plumbing but maybe psychologically

there is because the market knows the bank is there to pretty much backstop all of these banks that most likely would have gone bust and therefore the Fed's there with the backstop and we can go ahead and risk on.

It's not necessarily that there's more quote-of-quote liquidity or less liquidity in the system overall. But the main point we want to make here is we see

this blue line and you would think that if the banking crisis was over, then obviously

none of these banks would need the bank term funding program anymore.

But we can see that not only are they still using it, but they're using it to the greatest

degree they have since the program began in March of 2023.

We're up over, I don't have an exact number here, but we'll call it 105 billion roughly. So this is something that we need to watch like a hawk. I discussed this in a prior whiteboard video where there are really three components to or kind of three charts

that you can look at to determine the overall health of the banking system and

...