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https://www.armstrongeconomics.com/world-news/corruption/bank-failures-a-push-for-cbdc/
Monday saw the largest banking failure in the US since 2008 after First Republic went under, marking the third death of a US bank this year. Regulators took possession of the bank this Monday and JPMorgan Chase will acquire the majority of the bank’s assets and remaining deposits worth around $92 billion. First Republic Bank’s stock fell nearly 50% after reporting a significant drop in deposits in the first quarter of 2023. First Republic’s stock value tanked 97% on Friday due to fears of a bank run or failure, and the executives were silent on the health of the bank because they knew they were doomed. JPMorgan Chase coming to save the day is not a good sign. |
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