May 3, 2023
By James Grundvig, American Media Periscope
First Republic Bank won’t be the last bank to fail this spring, as the funnel for a financial meltdown takes form on the horizon. Two weeks ago, Moody’s downgraded the ratings of 11 regional banks. The reason Moody’s cited, is “A deterioration in the operating environment and funding conditions.”
Translation: Liquidity crunch with no financial “cover” from the U.S. government or regulators when the next bank fails.
After the $100 billion loss by First Republic Bank, the FDIC is now out of money. They cannot to insure depositors, up to $250,000, going forward when the next bank failure occurs. The Federal Reserve is also out of money; so is the U.S. Treasury. On Monday, Janet Yellen, the U.S. Treasury Secretary, stated that the United States could run out of money to “pay its bills” by June 1.
Welcome to the party, pal” said Bruce Willis’ character in the movie “Die Hard” when he tossed a dead terrorist on top of a police cruiser below.
On May 1, five of those eleven regional banks got hammered in the stock market.
- PacWest Bancorp -39.3%
- Western Alliance -22%
- Comerica Inc. -12%
- Zions Bancorp -11% Regional Bank ETF $IAT -6.5%
According to The Kobeissi Letter, J.P. Morgan-Chase Bank will do just fine stepping into the void of securing First Republic Bank’s assets.
Federal Reserve Rate Hike
While the Dow and other financial indices declined sharply on Monday, Jerome Powell and the U.S. Federal Reserve met yesterday and today, according to the Fed calendar.
Yes, the Fed raised rates by 25 basis points amid the fragility of the banking crisis.
According to The Guardian: [Emphasis ours]
“The US is braced for an interest rate rise on Wednesday that could push the world’s largest economy into recession.
“The Federal Reserve is expected to announce another quarter of a percentage point rise in its benchmark interest rate, to a range of 5% to 5.25%. It would be the central bank’s 10th consecutive rate rise as it prioritizes the fight against rising prices. A year ago interest rates were close to zero.”
With lending becoming more expensive for builders, developers, and homeowners the slowdown will continue to cool off the real estate market, likely in the booming states of Texas and Florida as well.
The Economic Hindenburg
Beyond the looming financial crisis of the United States, scores of major corporations declared bankruptcy filings in the first third of this year.
According to Mike Shedlock of Mish Talk, there have been 70 bankruptcies. “For perspective, in 2009, 118 bankruptcies took place through April. During the height of the Wuhan virus in 2020, there were 71 bankruptcies through April.”
The above graph shows that, by the time other banking failures occur, along with more retailers going bust, like Bed, Bath, and Beyond currently in liquidation, it’s game over for Bidenomics. The recession won’t begin to describe the bursting of the “Everything Bubble.”
Add the tens of thousands of technology jobs eliminated since last autumn, which aren’t coming back according to Business Insider, combined with the stratospheric growth and surging use-cases of Open AI Chat-GPT4 and other artificial intelligence platforms, and the seismic shift in the tech sector is the game changer no one saw coming this time last year. Now, some have predicted Open AI will make coders obsolete in five years.
That isn’t hyperbole. It very well could be a new reality. Either adapt to the rapid transformation of the Digital Age or become obsolete with a shrinking shelf-life for your skillsets.
“Learn how to code” now becomes “learn how to prompt” AI platforms to extract the right responses in an ever-efficient way. Time is money. More now than ever.
De-Dollarization Meets the BRICS+S
The final nails being driven into the ancient Babylonian, fiat monetary system will come from the new global alliances being erected in Asia, Africa, and the Mid-East. BRICS is no longer Brazil-Russia-India-China-South Africa. It now includes Saudi Arabia, plus two dozen more nations queuing up for their opportunity to get off the dying U.S. petrodollar reserve currency.
As Pepe Escobar, the Brazilian journalist and geopolitical analyst, sees it in tracking the seismic geopolitical shifts with new tectonic alliances the fall of the U.S. dollar hegemony boils down to numbers.
The U.S. dollar as a global reserve currency fell from, “73 percent in 2001, 55 percent in 2021, and 47 percent in 2022.”
Other Escobar highlights include: [Emphasis ours]
It’s “no longer far-fetched to project a global dollar share of only 30 percent by the end of 2024, coinciding with the next US presidential election.
“February 2022, when over $300 billion in Russian foreign reserves were ‘frozen’ by the collective west, and every other country on the planet began fearing for their own dollar stores abroad…
“Over 70 percent of trade deals between Russia and China now use either the ruble or the yuan, according to Russian Finance Minister Anton Siluanov.
“Russia and India are trading oil in rupees. Less than four weeks ago, Banco Bocom BBM became the first Latin American bank to sign up as a direct participant of the Cross-Border Interbank Payment System (CIPS), which is the Chinese alternative to the Western-led financial messaging system, SWIFT.
“China’s CNOOC and France’s Total signed their first LNG trade in yuan via the Shanghai Petroleum and Natural Gas Exchange.
“The deal between Russia and Bangladesh for the construction of the Rooppur nuclear plant will also bypass the US dollar. The first $300 million payment will be in yuan, but Russia will try to switch the next ones to rubles.”
The Great Reset Fail
So, what to make of all these changes and rapid moving parts picking up pace over the past 14 months?
One, change is inevitable. Two, change happens. Three, the Great Resetters cartel in the United Nations, World Economic Forum, the IMF, the World Bank, the Bank of International Settlements (BIS), the masters of Bretton Woods, the European Commission, and the European Union clearly are no longer in charge of the engineered demolition of their global central banking network.
Yes, the White Hats alliance will allow the old guard’s system to collapse. But it is the wars in Ukraine and soon in Taiwan, with the impending Chinese PLA invasion, that will force the final breakage of the money laundering, tax-inflation scheming, and rigged stock markets system to implode. With the collapse, many of the big multinational banks and regional banks will topple, too. Then the corrupt politicians will be driven out of office into the streets. Good luck with that Joe Biden, Justin Trudeau, and Emmanuel Macron, among others.
The darkest of evil truths hidden from humanity is so enormous and pervasive that the centuries-old fraud and black operations will be exposed in four critical places that will soon come to light:
- Nazified Ukraine and its 46 U.S. DoD-sponsored biolabs
- Taiwan and its Biolabs
- The child sex trafficking and money stealing maritime port of Washington, D.C.
- Epstein Island and the global banking system—hello, Jamie Dimon!
The truth will come out. The truth will set us free. The global Cabal and Deep State will be defeated.
You can bank on it.