The System Is Starting To Unravel At A Pace That Is Absolutely Breathtaking
It should have been apparent to everyone that the dark clouds on the horizon would bring a storm, and now rain is furiously falling all around us. Our entire system is being viciously shaken, and the dominoes are going to continue to fall in the months ahead. Once Silicon Valley Bank and Signature Bank went down, we all knew that it was just a matter of time before more large banks started to implode. Now First Republic has failed, and over the weekend U.S. regulators were working very hard to arrange a sale…
U.S. regulators have been trying to clinch a sale of First Republic over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely to be the third major U.S. bank to fail in two months. Guggenheim Securities is advising the FDIC, two sources familiar with the matter said on Saturday.
As a I write this article, that still hasn’t happened yet.
But it could happen at any moment.
When a sale is finally announced, the FDIC is also expected to tell us that it has seized First Republic…
The Federal Deposit Insurance Corp is expected to announce a deal on Sunday night before Asian markets open, with the regulator likely to say at the same time that it had seized the lender, three sources previously told Reuters.
They are trying to time everything so that as little panic as possible is created.
But I feel really badly for those that owned First Republic stock.
It was going for about 120 dollars a share at the beginning of March, and once the bank is seized by federal regulators it will almost certainly be worthless.
That is how fast these things can happen.
More dominoes will fall throughout the rest of 2023, and you don’t want to be caught holding the bag.
So do what you need to do while you still have time.
When the Federal Reserve decided to go nuts with their rate hikes, we all knew that this would put enormous pressure on the banks, and that is precisely what has happened.
We also knew that higher rates would crush the housing market, and last month pending home sales dropped much more than expected…
March is with both feet in the spring selling season, when home sales jump and when prices move higher, and where everything looks rosy for a few months, no matter what, after the dreariness of winter.
So, well then, here we go again. Pending home sales – which are “a forward-looking indicator of home sales based on contract signings” – fell by 5.2% in March from February, according to the National Association of Realtors today, thereby annihilating the little-bitty gain in February that had sent all the headlines abuzz with hype.
If you are looking to sell a home, I would recommend doing it quickly, because prices are likely to go quite a bit lower from here.
Meanwhile, big companies are laying off workers all over the country at a very frightening rate. In fact, we just learned that Jenny Craig is getting ready to conduct “mass layoffs” as it prepares to wind down operations…
Jenny Craig has alerted employees to potential mass layoffs as it begins “winding down physical operations” and hunts for a buyer, according to communications the weight-loss company sent some staffers this week.
The company said it “has been going through a sales process for the last couple of months,” according to a document titled “Jenny Craig Company Transition FAQs” that was dated Tuesday and provided to NBC News.
I don’t know why, but I am sad to see Jenny Craig go.
Perhaps it is because of all the Jenny Craig commercials that I watched when I was younger.
Joe Biden keeps telling us that the economy is doing great, but we just keep seeing one large company after another go belly up…
For 2009 there were 118 bankruptcies through April. In Covid-impacted 2020, there were 71 bankruptcies. In 2023 there have been 70.
This is the third worst start to the year since 2000.
This didn’t have to happen.
If our leaders had not flooded the system with money, inflation never would have gotten out of control.
And if inflation had never gotten out of control, officials at the Fed never would have had to recklessly hike interest rates.
Sadly, we have a real nightmare on our hands at this point, and there is no turning back now.
Not too long ago, a prankster that was impersonating Ukrainian President Volodymyr Zelensky was able to completely fool Federal Reserve Chairman Jerome Powell during a video chat.
During their discussion, Powell openly admitted that raising rates could push the U.S. economy into a recession…
Federal Reserve Chairman Jerome Powell earlier this year held a video chat about the global economy with someone he thought was Ukrainian President Volodymyr Zelensky. Except it wasn’t Zelensky. Powell appears to have been pranked.
In clips posted online of the January conversation, Powell discussed global politics and the economy. He said he supported the Ukrainian people but was limited in ways he could help. And Powell said a recession was likely coming in the not-too-distant future and divulged the Fed’s plans to raise rates in 2023.
Powell also admitted that more rate hikes are planned even though he knows that they will cause even more pain.
And actually the Federal Reserve is expected to raise rates another 25 basis points later this week.
It is absolutely suicidal to keep raising rates as the economy plunges into a major downturn, but they are doing it anyway.
Have they gone completely mad?
It is almost as if they are purposely trying to create the sort of economic horror show that I have been relentlessly warning about.
If officials at the Fed had any sense, they would be reducing rates as soon as possible.
Unfortunately, that is simply not going to happen, and so we will soon see many more dominoes start tumbling over.
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"They" are not crashing the economy to destroy the deep state. The deep state is doing this. This is all part of their plan. They are in total control.
The dollar replaced the UK pound as the world currency in 1945. It was gold backed 100% but trade would not be done in gold but dollars with the promise "the dollar was as good as gold." The deep state started cheating(printing too many dollars) and nations beginning with France wanted gold not dollars in trade. Nixon then decoupled the dollar from gold and went Fiat in 1970. The "They" the deep state, know fiat systems always fail and implemented this system purposefully, to fail.
In1972 Nixon got China to join this international fiat Banking system. In 1975 the whole world went fiat. Reagan during multiple meetings in the mid to late 80's met with Gorbachev to create peace and economic cooperation including joining the fiat western banking system. All of this was to suck the hole world in and then collapse it and then replace it (the fiat dollar backed system) with a digital super gold backed currency and dump the dollar. Thus the IMF via their newly gold backed(3,000 metric tons of gold) digital super currency, the Unicoin would rule the global economy with the USA at the center. Thus, this Unicoin could be the replacement for the dollar. (Remember the UN, IMF, WB and the BIS were all created with one nation at the center driving this, The USA and the FED).
Russia and China have realized they have been sold a bill of goods and have rebelled with their own BRICS basket of currencies to crush the west's IMF's basket of currencies US, UK, EU. This is what the wars in Europe, the Middle East, Taiwan and S Korea are all about. In order for the BRICS to stop the US lead IMF digital gold backed system, Russia needs Eastern Europe back and China needs to control the western pacific, thus the USA the EU and NATO must be destroyed and this means war. Thus the west is out to destroy Russia and China (communism) in kind, there is only room for one system at the top.
I know a Sr. VP with B of A. and in 2018 I was invited to a private meeting at the St Louis FED. We heard a lecture from the Feds Macro-Economic expert.
From the horses mouth,
At the FED they said everything done to the economy from 2008 to 2018 (massive Q.E. and 0% interest rates has failed)."There is a (FED) plan for the next step but we will have to wait and see what that is."
They cant say because it would cause an instant banking panic and they would lose control of the process.
MY B of A VP friend filled in the gaps for me; a. The FED will purposefully collapse the dollar when the time is right, blame it on someone (communism/Russia China?) b. they will only rescue 4-5 banks too big to fail. c. these TBTF banks will absorb smaller failing banks (that just started). c. They anticipate massive chaos and the FED, the military and police all have been warned and plans put in place to deal with it and this could include foreign police and Milt, police help (the blue helmet guys) d. The new system will be digital with some limited money but all sales will be tracked. e. If you have money in any financial inst. when they pull the trigger you will lose about 50% in "bail ins." "if you have money in the system when this happens you will be screwed." This includes pensions and all retirement plans. f. There will be an extended period of really dark times but out of this will come the NWO with the US/IMF gold backed digital SDR system running the planet, Russia and China lose this fight.
We shall see.
I have heard from a reliable source that they had to crash the economy in order to destroy the deep state. No money equals no power, you see. The plan was to roll out CBDC, but instead, we will be introduced to an asset backed currency. Of course, few people know the true plan, so we'll just have to wait and see.