Posted on 02/01/2024 6:17:51 AM PST by Red Badger
Heads up folks…
I’ve been on my soapbox sounding the alarm about the banking system for the past several months.
We had 6 banks crash and collapse last year in 2023 and many thought the Banking Crash was over.
I kept telling you it wasn’t.
I kept telling you I feared that was just the prelude.
This is one of those times I wished I was wrong, but it’s not looking like I will be.
In fact, it’s looking like the Bank Crash 2.0 is right around the corner.
Here’s what’s happening right now as I type this:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\\\ Disclose.tv @disclosetv · Follow JUST IN - New York Community Bancorp stock crashes, trading halted. 8:45 AM · Jan 31, 2024
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
This is what the chart looks like:
This is the same bank that bought Signature Bank last year….gee, I guess the contagion spread?
Who would have thought?
James Lavish @jameslavish · Follow While everyone is focused on Mag7s, NYCB - New York Community Bancorp (yes, the bank that bought troubled Signature Bank last year) announced a $260M loss in Q4, and the stock opened down 40%.
What was in that loan portfolio?
Many are calling this the “death candle”:
I asked Grok if New York Community Bank is collapsing and here’s what it said:
Quote: “It is facing significant challenges….[but]…..it would be premature to conclude the bank is failing.
Anyone else get echoes of Jim Cramer in 2009 when you hear that?
“BEAR STERNS IS FINE!”
Remember this?
KRAMER VIDEO AT LINK...............
Look, I’m not a financial advisor….
I’m not an accountant….
I’m not a TV guru like Jim Cramer (thank God!).
I’m just a reporter and a dot-connector and I’m telling you I think a major crash is right around the corner.
I think it’s likely this bank fully goes under or gets bought out….
I think you see a much bigger name go down next, and if I had to pick one I’d say it’s Citibank….
And I'll leave you with this....
The time to get prepared is NOT after the crash starts.
The time to get prepared is now.
And while I'm not a financial advisor, I will tell you Gold and Silver have always been God's money and they historically are safe-havens in times of massive financial crashes.
That is, if you can find any.
Thanks.
Following....
I’m wondering is a domino effect will take out some seemingly ‘good’ banks as well.......................
Is the PPT getting the band back together? Who’s their new drummer?
If the SHTF your Bitcoin will be safe?
Lol.
Fools and their money are soon parted.
Yes. My concern as well. I’m going to move some things around tomorrow I think. Very worried.
Thanks for posting this thread. Very appreciated.
We won’t see bank runs like the Depression. It will be an “orderly” collapse...until it isn’t.
————
Agreed, “ orderly” of course….until that final event that happens, called the “ Waterfall Event”, suddenly happens ( happened) to every country that has collapsed in modern history, a host of African nations, Venezuela ,Brazil, now Argentina….all the signs are now visible in America.
Which leads to the question, When? In God’s good timing of course….every great Revival has occurred when the nation has been brought to its knees….the US has had three, the most notable was our Great Depression which sparked a huge, glorious revival…look up the Great Depression of 1873, 1893, etc….
Stay tuned.
The banks all own the derivatives of the other banks’ derivatives. They call it contagion when they fall but it is really quite the incestuous industry. Waiting for the effects of the Evergrande failure....
Be careful with silver, junk silver, what have you. Go look at a 40-50 year chart for silver. You will find that silver sucks. In a deflation, silver will go to basement prices. I remember when it was $5/oz for a while in the 1990s into 2005 or so
Silver chart/adjust to 30 years—— https://goldprice.org/
Silver bought six months before 9/11 at $3.50 oz is now getting $24 oz….and it is in your hand, not a promise to pay or an electron on the screen.
Sure, you can argue paper instruments ( stocks, .gov notes of debt..) returned more….but remember Rule 1: PMs are financial Insurance. Rule 2: If you don’t hold it in your hand, you don’t own it….PM’s have always performed when called upon in times of financial crisis.
Anyone else get echoes of Jim Cramer in 2009 when you hear that?
I remember him yelling:
“DON’T SELL BEAR!”
Whatever Kramer says, do the opposite....................
Entirely agree.
After SVG failure 3/2023 federal reserve creates “Bank term funding program” effectively nationalizing the banks until 3/2024. No worries til after March
I bought some silver in 1983. I still have it. I bought at $16 per oz. Today silver is at $22.51 per ounce.
Repeating -— Silver is an industrial metal that will really plunge in price during a deflation.
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