Watchman: In the New World Order, Only Four Banks Will Dominate, With Nearly 10,000 U.S. Banks Vanishing Since 1985. The Power Is Now Concentrated in the Hands of These Mega Banks, Which Control 39+ Percent of All Bank Assets

HNewsWire: By Pam Martens and Russ Martens, According to Federal Deposit Insurance Corporation (FDIC) data, there were 14,417 federally-insured banking institutions in the U.S. in 1985. As of December 31, 2023, the FDIC reports there are only 4,587 remaining. The vast majority of the 9,830 banks that have disappeared since 1985 did not fail – they were merged with other banks. Today, just four banks control $9.3 trillion in consolidated bank assets or 39 percent of all bank assets. Those four banks are JPMorgan Chase with $3.395 trillion in consolidated assets; Bank of America with $2.540 trillion; Wells Fargo with $1.7 trillion; and Citigroup’s Citibank with $1.685 trillion. (All asset figures are as of December 31, 2023 and come from the Federal Reserve’s statistical release of the largest banks.) The political clout of these mega banks is such that one of them,…

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