by Michael Snyder, The Economic Collapse Blog:
Every time that they tell us that everything is fine, things just seem to get even worse. This banking crisis was supposed to be “over” after Silicon Valley Bank and Signature Bank collapsed. It wasn’t. Then it was supposed to be “over” after First Republic collapsed. It wasn’t. By now, most of you already know about what has been happening to PacWest, Western Alliance, First Horizon and countless other regional bank stocks. In all my years, I have never seen banking stocks fall so quickly. If this avalanche continues to pick up momentum, pretty soon we will have to stop talking about a “banking industry crisis” and start talking about a “banking industry apocalypse”.
The banking bummer Jamie Dimon said was over is far from over. More banks are going down and more banks are finding themselves in deep financial trouble. The banking collapse of 2023 is already far greater that the banking collapse that touched off the so-called “Great Recession” in 2008. Did I say it was far from over? In a new Gallup poll, almost half of all Americans are “worried” about their deposits in the bank. That’s reassuring!!
GOLD BREAKS OUT AND CLIMBS $19.00 TO $2047.20/SILVER ALSO HAS A STELLAR DAY, UP $0.53 TO $25.95//PLATINUM CLOSED DOWN $16.25 TO $1041.25 WHILE PALLADIUM ROSE $16.25 TO $1458.60//THE BIG NEWS TODAY IS IN THE USA HAS MAJOR REGIONAL BANKS RESUME THEIR DOWNWARD SPIRAL, MAINLY PACWEST AND FIRST HORIZON//ALSO ZION BANK/ AND USB ARE HAVING TROUBLES/COVID UPDATES/DR PAUL ALEXANDER//VACCINE IMPACT/SLAY NEWS//A GOOD READ: MATHEW PIEPENBURG//EU BACKS HOLLAND’S GOVERNMENT BANNING NITROGEN EMISSIONS (TOTALLY NUTS)//RUSSIA STATES THAT IT WAS THE USA BEHIND THE DRONE STRIKE ON AN OIL REFINERY//AND THEY RESPOND IN KIND
