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.
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.
The overall Economic numbers are downright Scary!
- Silicon Valley Bank Collapse causing fears of market contagion and Bank Runs
- Stock & crypto markets crash, U.S. debt to soar past $50 trillion within 10 years as Biden to Raise Taxes
- Commercial Real Estate Collapse Latest Warning Sign to Prepare for Major Economic Troubles
- Food Shortages: American Food Supply in Real Danger, expected to get worse in 2023
- US inflation surges as economy becomes top preparedness threat
- U.S. money supply, which measures safe assets households and businesses can use to make payments, has fallen abruptly since March and is negative on a yearly basis for the first time since 2006.
- Mortgage payments as a share of income have doubled from 13% to 26%, and the savings rate has plummeted to almost zero.
- Total household debt increased by 8.5% in 2022 and now stands at a record $16.9 trillion. That’s $2.75 trillion higher than it was pre-pandemic.
- Sales of commercial mortgage bonds have taken a nose dive, plummeting about 85% year-over-year as commercial real estate investors are bracing for what looks like a wave of defaults throughout the commercial real estate industry.
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.
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.