March Madness In The Banking Sector
The Road To The Championship Will Require More Bank Collapses And Mergers
On Monday, 3/11/24, the United States Federal Reserve’s Bank Term Funding Program (BTFP) was officially halted. The Fed has stopped making new loans to banks via the BTFP. Our team put together this post on the Federal Reserve System a few weeks ago in an effort to shine the light on these changes that occurred last week.
As nearly every living American knows, Sunday, 3/17/24 was selection Sunday. American culture is consumed with bracketology for this entire week as “March Madness” tips off in the world of college hoops.
However, 3/17/24 marked another major milestone for the international banking sector. Did you know that the European Central Bank officially switched over to ISO 20022 moving SEPA forward from 2009 standards to 2019 standards?
For most of us, a “migration” to a new “system” seems like a boring, mundane computer technology update, but this SEPA update appears to be quite different.
Some are referring to all of these “upgrades” as the launching pad for a “financial revolution.” In addition, some financial analysts are suggesting that hundreds of banks could fail or face forced mergers. Wouldn’t this make for quite a March Madness to remember?
For the many catching up to all of this confusing financial jargon, Basel III is an international regulatory framework to help alleviate risk in banking. Much like organizations collaborating to establish a standard for device connectivity like computer networks, ISO 20022 plays a big role in all of this and is in the process of becoming the global standard for financial payments and communications between banks.
It appears that 2024 is shaping up to be quite the leap year for the European Central Bank, huh? What do you think? Does moving from 2009 standards to 2019 standards sound like a huge leap forward? Is ISO 20022 transforming the financial sector globally?
Our team is not up to speed on all the changes happening in the banking sector, nor do we claim to fully understand all of this new financial vernacular. However, we can put on our thinking caps and utilize logical thinking to draw some conclusions. All of us can be certain that MAJOR changes are happening in the banking sector, including central banks like the Federal Reserve and the European Central Bank. In addition, these MAJOR changes appear to be happening in a very coordinated fashion across the globe. And when MAJOR changes occur swiftly, the net result is often the collapse or consolidation of those entities that failed to meet deadlines, comply, or migrate. Plainly stated, computers crash when updates are not installed. Will the same thing occur for some banks? Or are we already months into a banking sector collapse?
In early October 2016, Donald J. Trump was quoted as saying this when looking ahead to the November 2016 election.
This is not simply another four year election. This is a crossroads in the history of our civilization that will determine whether or not we the people reclaim control over our government. (and financial institutions)
Do you think Trump was referring to the ISO 20022, Basel III (+IV) initiatives, revaluation of currencies across the globe, devaluation of the debt imprisoned fiat currency, and all the other financial changes that would be happening across the globe if he were elected? And if that could remotely be true, how would he have known this in 2016? In the end, no one in the US knows anything right now due to the mass censorship we are living through.
We will simply close this post suggesting to you that Donald Trump’s other quote from November 2022 is not far off.
America’s golden age is just ahead.
A global economically driven security program appears to be at play that leads to a massive shift in the domestic, national, and international banking sector (that will result in some more consolidation and collapse). However, keep your eye on the prize. We are talking about asset backed currencies for all nations that ultimately leads to peace. We are talking about freedom. We are talking about the Declaration of Independence going global.
God grant peace to you during these crazy days we call March Madness!