It was not necessary to point out that various organizations of elites, self-appointed saviors of the poor benighted masses, are working in the shadows to save us from ourselves; it was ever thus. As The Who sang, âMeet the new boss, same as the old boss.ââ
â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â November 16, 2023 |  [View Online]( |  [Sign Up]( Won't Get Fooled Again âMeet the new boss, same as the old bossâ¦â â The Who Dear , âThe segment from Michael Rectenwald did not surprise nor disappoint,â writes in reader Damon C. âBut it was not necessary to point out that various organizations of elites, self-appointed saviors of the poor benighted masses, are working in the shadows to save us from ourselves; it was ever thus. As The Who sang, âMeet the new boss, same as the old boss.ââ CONTINUED BELOW... POWERED BY REPUBLICAN METAL COMPANY Conflict In Israel Sends Gold Soaring The latest flare-up between Israel and Palestinian militants has sent gold prices surging. Why? 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Damon continues: The problem is that a reasonably comfortable populace will not rebel until they have nothing to lose, long after they should have seen the writing on the wall. To paraphrase an old saw, âYou can lead a man to knowledge, but you can't make him think.â Weâve been keeping an eye on the Federal Deposit Insurance Corporation (FDIC)âthe âself-appointed saviors of the poor benighted massesââsince the banking crisis in March. Monday, the following dossier came out of left field⦠making us think, like Damon, how much more can we take before something is done? The Wall Street Journal covered a report claiming the FDIC, the very regulator who insures and protects your money, as basically an old boys club that likes to party. Meet the new boss, same as the old boss⦠According to their website, âthe FDIC insures deposits, examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.â They also advise us on how worried we should be about the state of the economy, like their recent risk review of the banking industry telling us that everything is a-okay, with âsurprising resilience of community banks despite inflation and shifting interest rates.â How tight were they when they came up with that assessment? Weâre also aware of reports the Fed and FDIC have been hiring inclusivity and ESG types to regulatory positions rather than people with banking risk experience. Thatâs a story for another day. A think tank published a report saying 186 banks were at significant risk. And this same agency publishes an annual âProblem Banksâ report which featured 39 banks last year. If this wasnât such a serious issue, itâd be funny as all hell. Actually⦠It's still funny. But itâs also par for the course. And gives rise to the perception bureaucrats line their own pockets and pursue their own self interests at our expense. That may be a gross generalization. And may be tainted by our own run in with regulators in the publishing business. CONTINUED BELOW... POWERED BY THE ESSENTIAL INVESTOR CONTINUED... But while looking this up we found a Psychology Today piece showing narcissists are more likely to be attracted to politics and government because they see themselves as smarter and more important than the average citizen. Besides, we canât get mired in serious academic analysis of the "[Attack of the Subversive Elites]( every day, right? The tale emanating from D.C. is as old as time. Politicians look out for politicians. Which made us wonder: why did this report get released on Monday? So it goes, Addison Wiggin The Wiggin Sessions P.S. Something about this story smacks of [the Great American Shell Game]( on a national level. And the only real protection is taking charge of your own money and financial safety. [Hereâs how I recommend you do that.]( In the meantime, keep an eye on your bank account. POWERED BY DEMISE OF THE DOLLAR The Daily Missive from The Wiggin Sessions is committed to protecting and respecting your privacy. We do not rent or share your email address. 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