Yellen doubts coverage of all savers
We have a serious problem here. Bank depositors are NO risking your money as an investor in a hedge fund. They expect honesty and stability. If a bank trades and doubles its money, it belongs to the shareholders, not the depositors. Similarly, the loss belongs to shareholders, which means 100% of all deposits. MUST to be covered PERIOD!
Even Senator Lankford doesn’t understand that the depositor is a Chinese citizen. NO justify their failure. This would mean that all foreigners would have to withdraw their money from the United States. It would also be a violation of the Constitution. When this nation was formed we accepted TERRITORIAL JURISDICTION and rejected the monarchical system of jurisdiction. If you killed someone in Paris but were British, the French would arrest you and could not charge or punish you because you were the “property” of the King of England. They sent you back to your king and explained what you had done and it was up to your king to decide what to do.
We accepted TERRITORIAL JURISDICTION whereas if you were British but killed an American, you were put on trial in America and they rejected the idea that you were the property of the King of England. ALL contributors, regardless of their origin, MUST treat him the same as any other citizen. You cannot have both. So sorry. Senator Lankford, you’re wrong. We MUST cover even the deposit of Putin or the Chinese Communist Party. Otherwise, ALL foreign investors should also sell ALL their holdings of US debt – PERIOD!
Yellen questioned this policy and this warning that all banks have the same crisis in the collapse of long-term debt because of this endless pit that we are throwing money into called Ukraine. We got up NOTHING capitalize on this madness. This is nothing but the personal vindictiveness of the neocons, who turned Ukraine into an anti-Russian spearhead and American foreign policy into an aggressor in the pursuit of World War III. All neocons should be arrested for treason. Only Congress can declare war. This is a proxy war that has not been declared and does not benefit either the American people or even the Ukrainian people who were forced to leave their homes in this battle to conquer Russia.