No banks are safe (bail ins, FDIC limits, systemic risks)
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How $1 billion vanished in Republic Bank collapse
The Monday after taking over the Philadelphia region’s failed Republic Bank, Fulton Bank, based in Lancaster County, turned its plans toward new customers and deciding which branches to keep open and which employees to retain.Among losers in the financial collapse of Republic, seized Friday by state regulators, were shareholders, the Federal Deposit Insurance Corp., and up to half of the 430 employees.
The company was worth around $350 million, or $5 a share, as recently as May 2022, as factions led by Commerce Bank founder Vernon Hill, Wall Street investor Andrew Cohen, and South Jersey political leader George Norcross fought for control of the bank, founded in 1988.
Last fall, the Norcross group appeared to have won the power struggle, but in February, it canceled an agreement to invest in the bank, citing worse-than-expected financial data in Republic’s long-delayed reports to the Securities & Exchange Commission. Republic claimed it still had enough capital to stay in business without the Norcross money. But with no other investor in view, regulators pulled the plug on Friday, calling Republic “unsafe and unsound.”
More:
- Messages
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- Reaction score
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- Points
- 238
You can learn more about the money laundering scheme here https://www.pmbug.com/threads/fiat-...y-laundering-fraud-ponzi-etc.7257/post-101380
There could be a 7% ($1B) downside to TD's earnings potential due to the probe tied to laundering drug money, says Gabriel Dechaine, Canadian banks analyst at National Bank Financial.
5:36
Investors need to put greater weight on worst-case scenarios for TD: analyst
May 6, 2024There could be a 7% ($1B) downside to TD's earnings potential due to the probe tied to laundering drug money, says Gabriel Dechaine, Canadian banks analyst at National Bank Financial.
5:36
SilverSamurai
Fly on the Wall
- Messages
- 37
- Reaction score
- 13
- Points
- 38
Bail-ins support banks
Moral hazard unleashed
Socialized losses
Moral hazard unleashed
Socialized losses
The hell of it is...with mandatory EFT for payroll and other income, there's not a practical way to de-bank one's self.
I think the Elites are going to find out what happens when they COMPLETELY DESTROY any trust in the financial institutions.
As in, who the hell is gonna work, when compensation is a crap shoot? If they want us to starve, and are working to make it happen...might as well go down fighting, and take some of their footsoldiers with us.
- Messages
- 12,385
- Reaction score
- 2,648
- Points
- 238
Dan's at the fish market today.
FYI: I watch some of Dan's vids as much for entertainment as I do for news. He walks through some neat places and makes his vids interesting. As usual, dyodd.
BANKING CRISIS EXPOSED: What They Aren't Telling You! Dive into the shocking truths behind the banking sector's move towards digital-only transactions, potentially signaling a major shift in global financial practices. You cannot deny what we are going to be heading into. Now you have a bank that will deny all transactions. This bank will be closed basically to human contact. No deposits, no withdrawals and no cashier's checks.
20:17
Here are the links for the stories mentioned in this video:
https://share.newsbreak.com/6un84qnq
https://www.cnbc.com/amp/2024/05/09/w...
https://share.newsbreak.com/6u4oa6xp
https://www.yahoo.com/entertainment/l...
https://www.zerohedge.com/geopolitica...
https://finance.yahoo.com/news/millen...
https://upnorthlive.com/news/local/ho...
FYI: I watch some of Dan's vids as much for entertainment as I do for news. He walks through some neat places and makes his vids interesting. As usual, dyodd.
Your Bank Could Betray You - What They Aren't Telling You!
May 11, 2024 #BankRun #BankClosed #Cash BANKING CRISIS EXPOSED: What They Aren't Telling You! Dive into the shocking truths behind the banking sector's move towards digital-only transactions, potentially signaling a major shift in global financial practices. You cannot deny what we are going to be heading into. Now you have a bank that will deny all transactions. This bank will be closed basically to human contact. No deposits, no withdrawals and no cashier's checks. 20:17
Here are the links for the stories mentioned in this video:
https://share.newsbreak.com/6un84qnq
https://www.cnbc.com/amp/2024/05/09/w...
https://share.newsbreak.com/6u4oa6xp
https://www.yahoo.com/entertainment/l...
https://www.zerohedge.com/geopolitica...
https://finance.yahoo.com/news/millen...
https://upnorthlive.com/news/local/ho...
- Messages
- 10,321
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- 7,877
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- 238
bank failures in 6 to 12 months... agrees with Armstrong Economics
Former Wall Street money manager Ed Dowd is a skillful financial analyst. Even though he has a wildly popular book on CV19 vax deaths and injuries called “Cause Unknown,” he is now turning his attention back to the economy. Dowd warns the economy can fall out of bed at any time. Dowd explains, “What’s coming up next is a credit cycle. We are going to see commercial real estate go into problem mode. There are a lot of loans that need to be rolled over in 2024 and 25. A lot of these properties are down 80% . . . . There is huge credit risk coming. The prediction of bank failures is accurate. We are going to see, over the next 12 to 24 months, banks go belly-up. Then, they will have to get merged with bigger banks.”
What happens to the Biden economy? Dowd says, “The economy is going to take a nosedive sometime in the next 12 months. The real economy is not doing well. . . . The only thing that has been holding up the GDP growth is government spending. We are spending $1 trillion every 100 days. That’s adding $1 trillion to the deficit. The only job creation is government jobs, and they don’t actually add to the economy. . . . Reports are coming out now that the low-income consumer is getting absolutely hammered. McDonald’s talked about it in their most recent earnings call. . . . So, low-income and the middle-class are getting squeezed while the rich continue to plug along.”
Dowd told me off camera that the economy could get into trouble without warning. Dowd explains, “You’ve got to look at history. In 2008 and 2009, everyone talks about the crisis, but bank failures started showing up in 2007. . . . I suspect as we roll through time in the real economy and the money supply issues start to hit the economy, we will see more bank failures and more businesses shut down. 46% of small businesses are having problems paying their rent. There is going to come a time in the next 6 to 12 months this huge shock that we saw in the 2008 financial crisis, and the 2000 bubble where massive layoffs start to happen–it’s inevitable. This is what happens when you crank up interest rates from 0% to 5.5%. There is a lag in the real economy, and it’s hitting right now. It’s only going to intensify as time goes on.
Dowd likes gold as a core asset. He also thinks the dollar has a way to go before it tanks, but it will tank someday. Down also thinks that the CV19 bioweapon shot pushers are trying to change the narrative to admit “some deaths” happened, but the amount is small. Dowd calls BS on that, and he thinks the death and injuries are at least 33 million in the USA alone. According to Dowd’s research, the CV19 vax was a criminal enterprise that murdered and seriously harmed millions. Dowd thinks the deaths and injuries from the CV19 vax are going to get worse. Dowd thinks Johns Hopkins and the rest of the medical community are trying to change the narrative, so they don’t get blamed for pushing a massive death and disability CV19 vax program.
There is much more in the 53-minute interview.
Huge Financial Shock Inevitable & Hitting Now – Ed Dowd
By Greg Hunter’s USAWatchdog.comFormer Wall Street money manager Ed Dowd is a skillful financial analyst. Even though he has a wildly popular book on CV19 vax deaths and injuries called “Cause Unknown,” he is now turning his attention back to the economy. Dowd warns the economy can fall out of bed at any time. Dowd explains, “What’s coming up next is a credit cycle. We are going to see commercial real estate go into problem mode. There are a lot of loans that need to be rolled over in 2024 and 25. A lot of these properties are down 80% . . . . There is huge credit risk coming. The prediction of bank failures is accurate. We are going to see, over the next 12 to 24 months, banks go belly-up. Then, they will have to get merged with bigger banks.”
What happens to the Biden economy? Dowd says, “The economy is going to take a nosedive sometime in the next 12 months. The real economy is not doing well. . . . The only thing that has been holding up the GDP growth is government spending. We are spending $1 trillion every 100 days. That’s adding $1 trillion to the deficit. The only job creation is government jobs, and they don’t actually add to the economy. . . . Reports are coming out now that the low-income consumer is getting absolutely hammered. McDonald’s talked about it in their most recent earnings call. . . . So, low-income and the middle-class are getting squeezed while the rich continue to plug along.”
Dowd told me off camera that the economy could get into trouble without warning. Dowd explains, “You’ve got to look at history. In 2008 and 2009, everyone talks about the crisis, but bank failures started showing up in 2007. . . . I suspect as we roll through time in the real economy and the money supply issues start to hit the economy, we will see more bank failures and more businesses shut down. 46% of small businesses are having problems paying their rent. There is going to come a time in the next 6 to 12 months this huge shock that we saw in the 2008 financial crisis, and the 2000 bubble where massive layoffs start to happen–it’s inevitable. This is what happens when you crank up interest rates from 0% to 5.5%. There is a lag in the real economy, and it’s hitting right now. It’s only going to intensify as time goes on.
Dowd likes gold as a core asset. He also thinks the dollar has a way to go before it tanks, but it will tank someday. Down also thinks that the CV19 bioweapon shot pushers are trying to change the narrative to admit “some deaths” happened, but the amount is small. Dowd calls BS on that, and he thinks the death and injuries are at least 33 million in the USA alone. According to Dowd’s research, the CV19 vax was a criminal enterprise that murdered and seriously harmed millions. Dowd thinks the deaths and injuries from the CV19 vax are going to get worse. Dowd thinks Johns Hopkins and the rest of the medical community are trying to change the narrative, so they don’t get blamed for pushing a massive death and disability CV19 vax program.
There is much more in the 53-minute interview.
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FDIC honcho faces Senate panel today...