Banking Crisis Spreads: Run on First Republic Bank in California

broken bank

First Republic Bank customers lined up to withdraw their money Saturday as fears of a more significant banking crisis have spread throughout the industry.

In what looks an awful lot like the lead-up to the banking crisis in 2008, trading in several regional U.S. banks was halted on Friday amid a massive sell-off after the FDIC took over Silicon Valley Bank (SVB). Some of the affected regional U.S. banks were First Republic, Signature Bank, PacWest Bancorp, and Western Alliance Bancorp.

On Friday, the share price of First Republic Bank declined nearly 50 percent after the collapse and FDIC takeover of SVB — the second largest bank collapse in U.S. history. Today customers could be seen lining up at First Republic Bank branches throughout California in a desperate attempt to pull their money out.

Customers lining up at First Republic Bank in a desperate attempt to pull their money out.

Today, Billionaire investor Bill Ackman said he expects more bank runs from Monday morning.

On Friday, Silicon Valley Bank branches called the police on customers who showed up and attempted to pull out their cash.

Santa Clara Police officers at the Silicon Valley Bank headquarters in Santa Clara, California, Friday.

The overall Economic numbers are downright Scary!

Preparing for an economic collapse

FDIC Insured Means NOTHING!!!

There is over $22 Trillion in the U.S. banking system. The FDIC has only $124.5 Billion on its balance sheet and a $100 Billion line of credit from the U.S. Treasury. FDIC assets cover only 1.26% of U.S. Banking deposits — about the size of Silicon Valley Bank, which failed today. One bank! Are you starting to understand why we have been sounding the alarm bells?

Investing in long-term consumable goods.

Urban Survival Gear

Start stocking up on items you will need and use in the future and start stocking items you can barter with in case the system fails. By stocking up on food, water, survival gear & supplies, and bartering goods, you will have a nice stockpile of supplies that will help see you through the crisis.

Be Prepared to Feed Yourself when the Collapse Hits!

Grocery Options that ship right to your Home

Be Prepared to Defend Yourself

To truly be prepared, you need to learn how to be 100% self-sufficient.

- Advertisement -

2023: A Year When Everything Is Suddenly Breaking Loose All At Once

This article was originally published by Michael Snyder at The End of the American Dream. If it seems to you like everything is breaking loose...

War Could Start Anytime: North Korea Simulates Tactical Nuclear Strike

North Korea said it has conducted a simulation of a tactical nuclear strike against a “major enemy target.” This is its latest missile launch...

Best Cell Phone Signal Boosters For Remote Locations

The Ultimate Guide To Find The Best Cell Phone Booster For You The Problem: Weak Cell Signal – The Solution: Cell Phone Signal Booster Over the...

Links to check out

Latest Articles