>>19881301, >>19881337 pb
What does Jan Halper Hayes mean, anons?
She's talking about the bankrupt US corp again and adding more stuff connecting to the Fed
Dr. Jan Halper-Hayes
@Biz_Shrink
But they didn’t ask the right question! We know he left the bankrupt corporation to @JoeBiden
https://twitter.com/Biz_Shrink/status/1722273889357885762
rt
John G Acosta
@JohnGAcosta1
Trump admitted uner oath that he WAS NOT President in 2021. Trump supporters - you can stop pretending Trump is President. He's been fooling you big time. Big admission in court yesterday. 👇
https://twitter.com/JohnGAcosta1/status/1722081803530391716
National Banking Emergency Act of 1933
A law passed to stabilize the U.S. banking system after the Great Depression
The Emergency Banking Act of 1933 was enacted during the Great Depression to alleviate the economic downturn and stabilize the U.S. financial system.
The legislation was divided into five sections :
Title 1
Title 1 increased presidential powers during a banking crisis to include the supervision and control of all banking functions, such as foreign exchange transactions, credit transfers between financial institutions, payments by financial institutions, and activities related to gold or silver.
Title 2
Title 2 extended some powers to the Office of the Comptroller of Currency (OCC). The OCC is an independent division within the Treasury Department, responsible for overseeing all aspects of the management of financial institutions such as capital requirements, liquidity, market risk, compliance, etc.
The legislation allowed the OCC to limit the operations of banks with impaired assets. A conservator would be assigned to the banks, who would closely monitor their functioning.
Title 3
Title 3 gave the Secretary of Treasury powers to decide if a bank needed more capital to sustain itself. If more capital was needed, the bank could procure it with approval from the U.S. president. After receiving the president’s approval, the bank could issue preferred stock or seek loans backed by preferred stock from the Reconstruction Finance Corporation.
Title 4
Title 4 allowed the Federal Reserve to issue Federal Reserve Bank Notes on an emergency basis. Federal Reserve Bank Notes comprised currency secured by financial assets of commercial banks.
Title 5
Title 5 allowed the Emergency Banking Act to be effective.
Milestones Achieved by the Emergency Banking Act
The Emergency Banking Act was historic in that it gave the U.S. president powers to act independently from the Federal Reserve in times of a financial crisis.
Section 1 and 4, combined, took the United States off the gold standard.
The Emergency Banking Act was followed by the Banking Act, which introduced the Federal Deposit Insurance Corporation (FDIC). The FDIC provides insurance to depositors in US banks.
https://corporatefinanceinstitute.com/resources/economics/emergency-banking-act-of-1933/