In addition, McDonald’s reports higher-than-expected sales in the latest quarter due to successful marketing, and General Motors raises its earnings outlook after first-quarter earnings beat expectations. WATCH the live stream of ABC News here: https://www.youtube.com/watch?v=w_Ma8oQLmSM SUBSCRIBE to ABC NEWS: https://bit.ly/2vZb6yP Watch more at http://abcnews.go. com/ LIKE ABC News on FACEBOOK https://www.facebook.com/abcnews FOLLOW ABC News on TWITTER: https://twitter.com/abc #firstrepublicbank #bankdeposit #banking #crisis #abcnews #abcnlupdate
Original source (ABC/Youtube)
Something huge and terrible is coming so it's time to rescue ALL the money from the banks and save it somewhere else. It's going to be much worse than Great Depression.
TLDR – They are only required to hold 10% of deposits by (some insane) law.
A large chunk gets invested in long term bonds at all time low rates over the pandemic.
They are forced to sell those bonds at a loss (compounded by higher rates) to satisfy deposits on withdrawals over the 10% liquidity they hold at a loss.
Balance sheet goes negative, bank goes insolvent.
Buy Bitcoin and Ethereum
Biden economics coupled by poor decisions at California banks plus California bank regulators asleep at the wheel has exacerbated this situation.
really? why are people buying int his economy?
Amazing videos and thank you for breaking it down!! Despite the economic downturn, I’m so happy I have been earning $ 60,000 returns from my $9,000 investment every 14 days…
No country on Earth feels safe continuing to base their currencies solely on the US dollar. Honestly, do you blame them? America's governmental stupidity, weekly school shootings and Earth's worst pandemic mismanagement. 20 years ago, lies about weapons of mass destruction were used to attack Iraq. Today lies are a cornerstone of American society and government.
Thank you Biden
Do you wonder why because all these banks going under?
Zephaniah 1:17,18/James 5:1
OMG SO SCARY , WE NOT EVEN KNOW ABOUT OTHER BANKS WHAT'S GOING TO HAPPEN USA
Wait till the U.S. loses the Petrodollar since Russia and China are currently building global alliances to do this.
#CENTRALBANKCOLLPASE
This is what happens when you steal a Presidential election
That's not fair?
UnAcceptable. CEO's must be held accountable.