Well here we go again... The “never happen here” crowd is going to be complacent and get caught with their pants down again.
Do a search, there are bank branch locations shutting down left and right across the country. The economy has rendered them unprofitable to keep open.
A wise person would prepare for this very thing... Prepare for the worst and hope for the best. But it is not looking good...
The issue is not “never happen here”.
The issue is that the clown picked a specific date:
January 2023.
That date was a blatant lie.
Well here we go again... The “never happen here” crowd is going to be complacent and get caught with their pants down again.
Do a search, there are bank branch locations shutting down left and right across the country. The economy has rendered them unprofitable to keep open.
A wise person would prepare for this very thing... Prepare for the worst and hope for the best. But it is not looking good...
Major change in banks from covid. walk in transactions are down 45%. So no need for bank buildings anymore. Processing is off site. Trend is to lease new sites in strip malls and sell the buildings.
There’s a big difference between bank branches closing down and banks ceasing to exist. My bank has closed many branches in the last couple of years. But the bank still exists, and my debit card still gets me stuff. They could pull their physical presence out of Tucson entirely and it wouldn’t effect me. I don’t use the physical buildings. Most people don’t. Part of money becoming electronic, means so are banks.
Bank branches are shutting down. That is because the internet allows payments to be done electronically. ATM machines are easier to use than to go inside the branch. Basically, bank branches are going the way of passenger Railroads. Automation is the future. The horse and buggy are now firmly from past centuries.
Fear sells. Preppers have known for years what to have as real money... junk silver. Certainly not gold in IRAs— what a joke. If you can’t hold physical gold it is of no- zero use.
Branch banks are closing as a result of the Bank Regulators requirements of merging banks.. example BBT and SunTrust in the Southeast.... now Truist.
What is true is the a@@holes at the Federal Reserve (a PRIVATE bank btw, chartered by Congress and obamaumao renewed the next 100 years since 1913 Beast of Jekyll Island decided by Senator Aldrich et al— ie. the Rockefellers and J.P. Morgan). Obamaumau signed the next 100 years of these a@@holes at the Private Bank called The Federal Reserve Bank—obamaumao signed off on it in December 2013 with LITTLE media if at all covering this.