Jerome Powell Openly Admits That Banks Will Collapse This Year

By SRH, Earlier this week, in a Senate Banking Committee, the esteemed Fed Chair Jerome Powell reluctantly acknowledged that the United States is bound to confront a series of unavoidable banking collapses this year. However, he audaciously asserts that this forthcoming surge of calamities shall be within the realm of “manageable.” Another round of deceit from the Fed, as expected. The senator’s worries about the banking sector’s soundness and its exposure to commercial real estate were acknowledged by Powell. He verified that worried banks are receiving updates from the Federal Reserve, which is keeping a careful eye on the situation. Although Powell refrained from naming names or providing exact figures, he did say that additional banks, especially smaller ones with a greater reliance on commercial real estate, are likely to fail this year. The transition to remote employment has resulted…

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Watchman: These Morons Can’t Do Anything Right: Fed’s New CBDC Hacked Just Six Days After Its Launch and JPMorns AKA Chase Bank Says CBDC Are Safe–That’s BS

HNewsWire: We spend a lot of time wondering about the future and where all of this crazy will go in a world full of unthinkable nonsense. “Future Headline Friday” is our satirical take on where the world is headed if things continue as they are. While our satire may be humorous and exaggerated, you can be confident that everything we write is based on true events, news reports, characters, and pending legislation. On September 1, 2029, the Fed’s new CBDC “FedCoin” was hacked after only six days. Since the FedCoin system fell offline over 36 hours ago, neither the Treasury Department nor the Federal Reserve have commented on the problems. But, as far as we can tell, the difficulties began six days after the debut of the much-touted digital currency designed to replace the US dollar. Rumors began to circulate…

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Watchman Bud Light This Bank: JPMorgan Chase Is Back to De-banking, but Not in a Good Way Once Again, It’s Failing to Provide Any Explanations. And Once Again, It’s Targeting Individuals Who Have the Audacity to Question the Alleged Left Government/Woke Business Conspiracy Against Liberty…

HNewsWire: At about the same time, it appears, Chase debanked, without warning, Drs. Syed Haider and Joseph Mercola. Wait, no. Not just them, but also Dr. Mercola’s employees – and his and their families. All without explanation. These debankings don’t come without context. You may recall that last fall Chase debanked Senator, Ambassador and Governor (so, you know, pretty well respected) Brownback’s religious liberty organization, after having debanked General Flynn and a series of other conservatives. Chase got called on the Brownback debanking and first stonewalled and then lied, a half dozen times, about the reasons for the debanking, and then went back to stonewalling. That’s relevant again because, whaddya know, the debanked doctors turn out to be conservatives, too – or at least they’re sufficiently opposed to the woke big government/big business monolith that they were willing to question the efficacy of the…

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Watchman: The Victims of a Former Financial Advisor’s Ponzi Scheme Are Demanding an Explanation From Satan Soldiers at Morgan Stanley

HNewsWire: A former Morgan Stanley financial advisor has pleaded guilty to fraud and money laundering in what prosecutors said was a $7 million scam. Victims filed arbitration claims against the firm, alleging that it failed to reasonably supervise its employee. Morgan Stanley said it fired the advisor after the fraud was discovered. But it was a customer who alerted the firm. Victims want Morgan Stanley to answer for ex-financial advisor’s Ponzi scheme A former Morgan Stanley financial advisor has been sentenced to more than seven years in prison after admitting he ran a $7 million Ponzi scheme at the firm for more than a decade. But even though the scam targeted Morgan Stanley clients and the advisor admitted using a Morgan Stanley product to carry it out, the firm has fought efforts to hold it responsible. Victims say not only……...

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Watchman Sound Warning, Bank Run: Another Bank Run! Customers Wait Outside First Republic Bank Locations in California. The Worst Has Yet to Happen, Monday Morning Will be Crazy–People Need Their Money and Big Tech CEO are Millionaire?

Back to our list of 10 banks that raised similar red margin flags to those of SVB, here’s the same group, in the same order, showing negative AOCI as a percentage of total equity capital as of Dec. 31. We have added SVB to the bottom of the list. The data was provided by FactSet: Bank Ticker City AOCI ($mil) Total equity capital ($mil) AOCI/ TEC– AOCI Total assets ($mil) Customers Bancorp Inc. CUBI West Reading, Pa. -$163 $1,403 -10.4% $20,896 First Republic Bank FRC San Francisco -$331 $17,446 -1.9% $213,358 Sandy Spring Bancorp Inc. SASR Olney, Md. -$132 $1,484 -8.2% $13,833 New York Community Bancorp Inc. NYCB Hicksville, N.Y. -$620 $8,824 -6.6% $90,616 First Foundation Inc. FFWM Dallas -$12 $1,134 -1.0% $13,014 Ally Financial Inc. ALLY Detroit -$4,059 $12,859 -24.0% $191,826 Dime Community Bancshares Inc. DCOM Hauppauge, N.Y. -$94…

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Death Angel Has Her Sights on Corrupt Banks: Banks Are in Trouble: Wells

Tumbles as Revenues Plunge, Nim Hits Record Low, Warns on Payment Deferrals, Wells Fargo Has Been in Numerous Corruption Scandal, and Who’s Going to Pay the Price, the Working Man and Woman, Get Out of That Bank Why You Can… If there is one constant during earnings season, it is that no matter what the other banks do, Wells Fargo will always shit the bed, and this time was no different, with the stock sliding after reporting that Q3 earnings missed again as its Net Interest Margin dropped to a fresh all time low, while issuing an ominous warning that customer payment deferrals in the wake of the pandemic may delay the recognition of net charge-offs and delinquencies. Wells reported Q3 EPS of just $0.42, down more than 50% from the 0.92 a year ago, and missing expectations of $0.45…

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The “Ranch & Farm Apocalypse” Bankers Are Contributing to This Crisis…

Banks are Denying Loans to Many of These Ranchers and Farmers, Meanwhile, money is flowing like wine on Wall Street thanks to the Federal Reserve…. Banks are running out of time to regain public trust What do you do when you have lost all hope that things will ever turn around? It may still feel like “the economy is booming” for those at the top end of the economic food chain in big coastal cities such as New York and San Francisco, but for millions of hard-working Americans in the middle of the country, talk of a “coming recession” is absolutely ludicrous because it already feels like a severe economic depression is happening right now. In America’s heartland, bankruptcies are surging, debt burdens are becoming overwhelming, and suicide rates are spiking to unprecedented levels. We have not seen economic despair this extreme since the…

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