Posted on 05/01/2023 3:18:11 AM PDT by C210N
US financial authorities have taken possession of California’s troubled First Republic Bank, which will be acquired by JPMorgan Chase, government regulators announced Monday in the latest banking failure.
First Republic, the second-largest bank by assets to collapse in US history, has been in freefall since disclosing last week that it lost more than $100 billion in deposits in the first quarter, causing its shares to plummet.
(Excerpt) Read more at insiderpaper.com ...
GREATEST ECONOMY EVAH!!!
hopefully Jaime negotiated a better deal than Wamu, protecting JPM against lawsuits.
Sell the independents to the big banks and then force everybody to use the digital dollar.
Privatizing the profits, socializing the losses.
Keep printing money, genius.
The FDIC will assume those assets that JP Morgan Chase will not accept. In all probability should there be more bank failures, the FDIC will have to borrow money from either the Federal Reserve or the US Treasury. There is no taxpayer money immediately involved, but if the FDIC has to borrow from the US Treasury then taxpayer money is conceivably at risk. If we have a economic crash far worse than in 2008 through 2010, it is possible that the FDIC will not be able to repay any loans taken from the US Treasury or the Federal Reserve.
JP Morgan and Fedgov. Scratching each others’ backs for over 100 years.
That’s exactly the plan, First Republic is gone, in 10 days or so another mid-major bank will fail and this trend will continue until we have 4-6 major banks remaining, all set to usher in the CBDC at which point all our freedom that we have left will be gone.
That’s exactly their plan. At least 5 to 6 years ago the CEO of BOFA said his goal was to have a cashless society within 5 years. Right on time.
As designed, eventually there will be like 10 giant banks who will rule the Earth.
There was a lengthy discussion about this on a similar thread last week, and I suspect the whole “toxic assets” hysteria is overblown in the First Republic Bank case.
Historically, banks have failed because of bad loans going into default. These recent bank failures have been an entirely different matter. They’ve been failing because depositors have been taking all their money out of the banks.
Next up:
Moody’s Downgrades 11 Regional Banks, Including Zions, U.S. Bank, Western Alliance
That's behind the WSJ paywall... I'm searching for an alternative link - perhaps Moody's itself...
” Comerica, First Republic, In Trust, UMB, Western Alliance and Zions are all under review. They have been downgraded due to the fact that they have billions of dollars in assets that are in the red. Associate Bank Corps, First Hawaiian, Washington Federal, and the US bank have also been downgraded. “
This is from Bill Holter and Rafi Farber.
The nwo plan laid out decades ago is to have IIRC 10 regional banks. Example: Bank in Dallas to cover Texas, Oklahoma, Arkansas and Louisiana. 9 more similar regions to follow.
Then they bankrupt 80-85% of the people so they can audit each transaction in real time and decide if the remaining SUBJECTS still allowed “money” are allowed to make that purchase.
Simple and safe for All🤮🤮🤮🤮
No reason to fear. Actually, reason to welcome.
Its destruction is necessary to usher in a PM-based financial system. This is big stuff - much MUCH bigger than Bretton Woods in 1944. It is NOT happening without a plan for what will follow: NESARA/GESARA. BRICS is part of this, other nations recent shunning of the fiat dollar is part of this.
Enjoy the show.
2 or 3 of the largest defaults in US bank history have happened in the last 3-4 months and it’s a not a huge story in the media or among the population in general, that’s be design, one day soon when 5-6 banks remain and a CBDC gets ushered in, 98% of the population will not know how it all happened.
I suspect in the next 1-2 months on the business channels we’ll start to hear about another large regional bank that is on shaky ground, deposits will start getting pulled out and the run will be on and in a matter of days it will be sold off to a major Wall Street Bank like Chase, Bank of America, etc.
The only thing that might wake up a few people is if 5-10 or more major regional banks all failed at the same time instead of 1 every month or so.
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