Bank Collapse Background With Falling Charts And Negative Data

A Banking Crisis Is Quietly Brewing

The comments below are an edited and abridged synopsis of an article by Stefan Gleason, Money Metals

The Fed’s recent policy statement came with a curious omission. Officials removed language from previous statements that said, “the US banking system is sound and resilient.”

A Banking Crisis Is Quietly Brewing - BullionBuzz - BMG
Bank collapse background with falling charts and negative data

The Fed inserted this statement in March 2023 following the collapse of Silicon Valley Bank (SVB), whose balance sheet obviously wasn’t sound or resilient.

Fed officials and banking regulators assured us that SVB’s troubles were particular to its portfolio of assets. But higher interest rates, falling bond values and shaky commercial real estate markets are negatively affecting other large banks as well.

Troubles loom for regional banks in this supposedly strong economy. In the event of a recession, a wave of bank failures could trigger another financial crisis.

JPMorgan Chase CEO Jamie Dimon is warning of a debt crisis. He said that unsustainable growth in US government debt will trigger a rebellion among Treasury holders.

Meanwhile, JPMorgan Chase, Bank of America and others have announced the closures of hundreds of branches across the US, meant to reduce overhead costs and push customers into online banking.

Some Chase Bank customers have reported thousands of dollars in deposits missing from their accounts. Others have had accounts abruptly closed without warning or explanation.

JPMorgan Chase was accused of discriminating against customers by closing their accounts for having the wrong political beliefs or engaging in too many cash transactions.

Holding liquid wealth outside the banking system is an essential asset protection strategy. Physical precious metals represent hard money that is no one else’s liability and cannot be digitally lost or canceled.

Physical precious metals represent the ultimate insurance against meltdowns in the financial system and devaluations of government-issued fiat currency.