Goldman Sachs Slashes Its US GDP Forecast - Boosts US Recession Odds

Steve Bannan and Phillip Patrick discussed the failure of the banking system all caused by Brandon.  These people are destroying America and the American way of life. 

Patrick and Bannon began by noting that this week set a record for the largest amount of emergency loans given to banks in US history.   This blew away the 2008 record from before as we reported earlier in the day.

JUST IN: SVB Financial Group Files for Chapter 11 Bankruptcy

Patrick says “we’re getting all of the downsides with none of the upsides.”  Basically, the American people are bailing out the banks.

Patrick also says that if “every bank marked their treasury reserves to market prices there would be at least a $620 billion hole in the balance sheet.”

This too was reported earlier in the week as well.

DEVELOPING: Moody’s Cuts Outlook For Entire US Banking Sector, Puts Six Banks on ‘Downgrade’ Watch

Patrick says, “10% of US banks have bigger unrealized losses than SVB… This could be an unmitigated disaster”.

Steve Bannon went on to say,

“This is my point.  This is not recoverable.  We’re living in a fantasy.  These Treasuries could be worth a third of their value.  This is because of Brandon.  This ain’t woke.  This is dumb.”

“This is what we told you.  The spending – Brandon’s spending, leads to the Brandon inflation, that leads to the Brandon bonds, that leads to the Brandon banks.  This is where we are, this Brandon, Brandon, Brandon and Brandon.”

Watch the entire interview below.

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