Regional Banks are nosediving. This will play well into the Biden regime’s goal of having small numbers of big banks they can control. That will also work well with their goal of having CBDCs replace cash.
Another bank – PACWEST Bankcorp – is collapsing, and no one seems to care. Janet Yellen is clueless, and Jerome Powell is in over his head.
The Kobeissi letter wrote:
- Fed Statement: “US banking system is sound.”
- US Treasury: “US banking system is on a solid foundation.”
- FDIC: “US banking system remains resilient.”
- Meanwhile, over $1 trillion in deposits have left US banks over the last year.
And the regional banks are collapsing.
The Biden regime wants to introduce digital currency soon and so (suddenly!) America’s regional banks are collapsing on cue. https://t.co/2gMFtlGGO7
— Emerald Robinson ✝️ (@EmeraldRobinson) May 3, 2023
The other bank that is down huge after hours is Western Alliance Bank. Down 33% right now.
So we might have two bank failures on Friday for the FDIC to run auctions on this weekend.
JP Morgan probably can't bid on these.
So who gets them? pic.twitter.com/oOjy3cT0ZK— Wall Street Silver (@WallStreetSilv) May 3, 2023
Whoa! Market value of regional banks has plunged to $100 billion from $480 billion since January 2022.
Will Powell twist the knife today?
Great work @jsblokland pic.twitter.com/MKsBwgAxKY— Charles V Payne (@cvpayne) May 3, 2023
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Notice that these are Liberal Banks with High Tech portfolios. I think Community Banks and Credit Unions in the Heartland are in much better shape. I do business with one actual Bank. It’s an old Community Bank which routinely reports reserves in excess of 10%. The rest of my money is in Credit Unions and US Government Bonds at the moment. If my bonds lose money there are much bigger problems to deal with.
Last month 3 banks failed…ok that was just a sort of coincidence…all 3 had made similar bad decisions ( focusing on being woke , making themselves financially vulnerable )
But today about a dozen banks – all at once – saw their value on the stock market go down drastically.
But why all of them on the same day ?…what happened today that affected so many banks?
I am not aware of any big event today that could affect many banks all at once…
,,,unless Zelensky trying to assassinate Putin is it?
But that does not seem to make sense…how would it affect banks?
I would think it would affect the stock market much more than banks.
Maybe I am missing something here…
I am a bit baffled…