Banks Are Going to Drown in an Ocean of Defaults

The Bank Run…In a worrying sign for the banks, JPM just reported that it will be closing 1,000 Chase branches out of the more than 5,100 across the US. This comes just one day after Treasury Secretary Mnuchin insisted that no banks were considering closures, “Law and Order Are About to Break Down“. Banks are about to drown in an ocean of defaults There’s $250 TRILLION in global debt right now– mortgages, credit card debt, business loans, government debt, etc. And banks own a large portion of that debt. This virus crisis is going to trigger a wave of defaults from consumers, businesses, and even governments. Think about it: tourism alone makes up 10% of global GDP. Revenue in that entire sector– hotels, airlines, cruise ships, etc. have collapsed, and many of those companies aren’t going to survive. The crash…

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Hell-On Earth, We Have Come To The End Of Reality Now It’s “Tribulation”

Over the last several decades, have we ever seen a year start as strangely as 2020 has? Global weather patterns have gone completely nuts, large earthquakes are popping off like firecrackers, it looks like the plague of locusts in Africa could soon develop into the worst in modern history, and a massive plague of bats is severely terrorizing parts of Australia. On top of all that, African Swine Fever is wiping out millions upon millions of pigs around the globe, the H1N1 Swine Flu is killing people in Taiwan, there have been H5N1 Bird Flu outbreaks in China and in India, and the H5N8 Bird Flu has made an appearance at a poultry facility in Saudi Arabia. Of course, the coronavirus outbreak which is causing people to literally drop dead in the streets in China is making more headlines than…

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