All righty, hello again, everyone, and welcome to it. It is that there are a country podcast for the Etatiaith, of match 20, 20. It is the 20. There's no I can't even let me open it. Yeah, it is the 20th.

I'm doing this ahead of time. So what the hell do I know? I'm Derek Hunter. I'm your host. I'm not really British, but hi, what we're going to do? God knows this.

I appreciate the use of your ears. We're going to get to all the news of the day, banking really. God, who would have thought sitting around talking about banking, but that's the world in which we find ourselves. But first, let me thank you for going to Patreon.com slash Derek Hunter podcast or Derek Hunter.locals.com

and supporting the program, getting the week in every review, entering the contest and everything we have a winner this week of the autographed books. And you will have to wait until the end of the program to find out who it is and therefore find out who the next contestant on the book is right shall be.

So appreciate that Patreon.com slash Derek Hunter podcast or Derek Hunter.locals.com. Thank you so much for the support. Everybody else get on board. Let's do this thing for the record. I don't go into the Trump tweet or truth or whatever the hell they call it over there because that story seems to be evolving. I want to see how this develops. I'll talk about it tomorrow.

I'm neck deep in kids right now this weekend. So that's going to be the priority rather than an alleged rumor that seems to be being walked back. We shall see. We shall see. So we'll get into that tomorrow. I'm sure as more of it will flesh out, but the rest of the news we'll get into. All right. Now let's get started. There is a lot going on in the world today. And it is every bit insane.

It's really bizarre to me how these things happen and how like the congressional testimony nobody's ever surprised by congressional testimony, right? Nobody's ever surprised. Oh, man, I didn't realize I was supposed to testify before Congress today. That's not how the world works.

So you have a situation where Janet Yellen, the Secretary of the Treasury, which by the way, I'll be a little bit rude. Janet Yellen reminds me of Will Ferrell when Will Ferrell used to do Janet Reno on Saturday Night Live. Anybody remember that?

It was like a wrestler or whatever. It was kind of funny, but that's that's what Janet Yellen's voice sounds like. That's how Janet Yellen sounds to me.

And you have this complete mess of a situation with these banks. So the Secretary of the Treasury going up to testify before Congress, kind of a big deal, kind of an important thing.

I love one of my favorite lies. I have a lot of favorite lies that politicians tell my favorite is this isn't going to cost taxpayers one dime.

My other favorite is when Joe Biden says we're not going to raise taxes on anybody making less than $400,000 a year. That's a lie too.

But this one is the biggest lie of all. It's not going to cost taxpayers a dime. It's the federal government doing things. We're going to impose on and it either shows economic ignorance on behalf of the politicians or the hoped for thoughts and economic knowledge level of the American public.

They say, well, it's not going to cost. We're going to get the big banks to pay for this. We're going to get other banks to pay for this. We're going to get so and so these companies to pay for it. We are not. It's not going to cost the American taxpayer a single dime.

And it takes a special kind of stupid to sit there and go, oh, yeah, well, there you go. That makes good. Well, I'm off the hook. I can go back to sleep now. I don't need. I can take my medicines and be numb again.

There isn't taxes are not paid by corporations. That's why when they say, we're going to raise taxes on corporations and make sure they pay their fair share. You're just going to end up paying more for whatever their product is.

Democrats tend to raise taxes on corporations regularly or want to and particularly on things that you need to buy that everybody has to buy so that they definitely get their be quit. It's just weird how that works.

However, when it comes to banking and this current situation with signature bank and Silicon Valley bank.

They're saying, well, these would tow no taxpayer funds will be used to bail out because they, you know, the FDIC, you're insured up to $250,000.

And they voted. Now I don't know the law, but I can't imagine that Congress passed a law. Maybe they did where they said, you know, here's the standard $250,000. We're going to ensure you.

Unless the majority of the FDIC says, we're going to ensure everything every dollar all the way up to put the government on there's a huge difference between up to $250,000 and tens of millions of dollars in insurance.

Now you do that with thousands of accounts apparently something like 95% of the deposits in Silicon Valley bank were over and above the $250,000 threshold which makes you think there's a lot of rich people out in San Francisco which they are. It's the bank of Silicon Valley and lefties and billionaires and lefty billionaires were throwing a ton of money into it.

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