WEF Insider says Banking Crisis is A Great Reset Scam to Crash The Financial System & Establish CBDCs/Virtual Currencies via the UCC (Uniform Commercial Code)
2022 amendments to UCC address emerging technologies, updated rules for commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), AI, & other tech
These are the ten largest banks in the USA - most are not losing stock value of any real significance in the current banking crisis that began with Silicon Valley Bank’s closure on Friday 3/10/23.
Charles Schwab and Truist being the two outliers (see the charts below).
Investors are generally savvy.
I am sure that as soon as the news hit about Silicon Valley Bank, everyone went scurrying to the various bank’s 2022 annual reports and 4th quarter balance sheets. Many of the smaller and regional banks appear to be in trouble.
Here are the graphs from Charles Schwab and Truist. The percent in parenthesis is the stock value price change for the day. I set the X axis on all graphs to six months.
The 11% loss of value of the Charles Schwab corp worrying because this is where so many people stash their retirement monies. But the holding company is making many assurances that they are actually ok.
Another article lists the reasons why Schwab’s stocks are being affected here.
Some of the smaller banks lost a lot of stock value today.
Stock analysts appear to reacting to what they are finding on a closer inspection of the balance sheets.
Also note, that this is just the daily change in stock valuation. Some of these charts show a sharp decline in valuation over the past week. Trading was very volatile in the banking sector today.
The worst hit from this crisis are as follows (this may not be a complete list) - obviously SVB has stopped trading, so it is not here.
One interesting thing about the banking system, is that many of the smaller banks (the lower 50% of the top 100 banks in the USA list) are privately held. So, if they are on the verge of folding, there is literally no way to know.
Source article for the above information:
According to NewsPunch, the banking crisis was planned & executed perfectly & is a “Great Reset Scam”:
https://rumble.com/v2czrom-wef-insider-admits-silicon-valley-bank-crash-is-a-great-reset-scam.html
At mark 6:40-8:50, South Dakota, Gov Kristi Noem states that she vetoed the bill introduced to “Update the Guidelines of Uniform Commercial Code” because those amendments “changed the definition of currency”, “paving the way for Federal CBDC”, & “banned any other form of cryptocurrency”.
She also states that bills have been introduced with the same language in over 20 other states.
In fact, bills have been introduced in 23 states (including South Dakota) addressing the Uniform Commercial Code (UCC), specifically relating to the 2022 Amendments which add a new Article 12.
Article 12 addresses certain types of digital assets defined as “Controllable Electronic Records” (CERs) & provides new default rules to govern transactions involving these new technologies and clarify the UCC’s applicability to mixed transactions involving both goods and services.
Moreover, the introduced 2022 amendments to the Uniform Commercial Code address emerging technologies, providing updated rules for commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), artificial intelligence, and other technological developments.
See the below narrative information & links for my research validating South Dakota Governor Kristi Noem’s assertions about the 2022 amendments to the UCC being “ very clearly a threat to (our) freedom (in South Dakota)” & that she “believe(s) it’s to pave a way for the federal government to control our currency & thus, control people”:
Uniform Commercial Code
Uniform Commercial Code - Uniform Law Commission
https://www.uniformlaws.org/acts/ucc
Summary
The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States. It is not a federal law, but a uniformly adopted state law.
Pennsylvania became the first state to adopt the UCC in 1953, and every other state followed suit over the next twenty years.
UCC, 2022 Amendments to - Uniform Law Commission
UCC Article 12 and the 2022 Amendments
The 2022 amendments to the Uniform Commercial Code address emerging technologies, providing updated rules for commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), artificial intelligence, and other technological developments. The amendments span almost every article of the UCC and add a new Article 12 addressing certain types of digital assets defined as “Controllable Electronic Records” (CERs). The amendments provide new default rules to govern transactions involving these new technologies and clarify the UCC’s applicability to mixed transactions involving both goods and services. The amendments also contain some miscellaneous revisions unrelated to technological developments but providing needed clarification.
The 2022 amendments to the Uniform Commercial Code address emerging technologies, providing updated rules for commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), artificial intelligence, and other technological developments.
The amendments span almost every article of the UCC and add a new Article 12 addressing certain types of digital assets defined as “Controllable Electronic Records” (CERs). The amendments provide new default rules to govern transactions involving these new technologies and clarify the UCC’s applicability to mixed transactions involving both goods and services. The amendments also contain some miscellaneous revisions unrelated to technological developments but providing needed clarification.
2022 amendments to the Uniform Commercial Code has been introduced in 23 states.
ENACTMENT HISTORY (23 States Where Bills Have Been Introduced):
2022 amendments to the Uniform Commercial Code, Summary for KY:
SB64 | Kentucky 2023 | AN ACT relating to the Uniform Commercial Code. | TrackBill
Repeal and reenact KRS 355.2-102 to establish transactions subject to provisions of article; amend various sections of Articles 2, 2A, 4A, and 9 of KRS Chapter 355 to remove writing requirements; amend KRS 355.2A-102 to establish when article applies to hybrid leases; amend definition of "negotiable instrument" in KRS 355.3-104; amend KRS 355.3-105 and 355.3-604 to accommodate electronic transactions; amend KRS 355.4A-201 to modify security procedure requirements relating to funds transfers; amend KRS 355.5-116 to establish governing law standards for letters of credit; amend KRS 355.7-106 and 355.8-106, repeal and reenact 355.9-105, and create new sections of Article 9 of KRS Chapter 355, to establish control requirements for electronic documents of title, security entitlements, records evidencing chattel paper, electronic money, controllable electronic records, controllable accounts, and controllable payment intangibles; amend governing law standards for certain securities transactions in KRS 355.8-110; amend KRS 355.9-104 to expand when a security party has control of a deposit account; amend KRS 355.9-204 to establish exception to after-acquired property clause limitation; amend governing law standards for banks and securities and commodity entities in KRS 355.9-304 and 355.9-305; create new sections of Article 9 of KRS Chapter 355 to establish certain perfection and priority jurisdictional rules for chattel paper, controllable electronic records, controllable accounts, and controllable payment intangibles; amend KRS 355.9-203, 355.9-207, 355.9-208, 355.9-209, 355.9-310, 355.9-312, 355.9-314, 355.9-316, 355.9-317, 355.9-330, 355.9-331, 355.9-332, 355.9-406, 355.9-408, 355.9-605, and 355.9-628, and create new sections of Article 9 of KRS Chapter 355, to govern security interests in controllable electronic records, electronic money, controllable accounts, controllable payment intangibles, electronic documents, and chattel paper; amend KRS 355.9-323 to remove exception for buyers and lessees in the ordinary course of business relating to certain future advances clauses; amend notification of disposition of collateral requirements in KRS 355.9-613 and 355.9-614; establish a new Article 12 of KRS Chapter 355, titled "Controllable Electronic Records"; establish definitions, scope, purchaser rights, control requirements, debtor discharge obligations, and jurisdictional rules relating to controllable electronic records, controllable accounts, and controllable payment intangibles; create a new section of Article 11 of KRS Chapter 355; title Article 11 "Transitional Provisions for Uniform Commercial Code Amendments (2022)"; establish definitions and transitional provisions for transactions, liens, and interests entered, created, or acquired before the effective date of this Act; amend various sections of Articles 1, 2, 2A, 3, 5, 7, 8, and 9 of KRS Chapter 355 to make definitional revisions and conforming amendments; amend KRS 367.976 and 369.116 to conform; make technical corrections throughout; EFFECTIVE January 1, 2024.
Based on the information in this article, we may be in for major changes in our freedom as it relates to “commercial transactions involving virtual currencies, distributed ledger technologies (including blockchain), artificial intelligence, and other technological developments” AND, like Governor Kristi Noem, I believe the 2022 amendments to the UCC are indeed very clearly a threat to our freedom & that they are intended to pave a way for the federal government to control our currency & thus, control people.