Don’t wait to find out the answer…Financial planner says ‘A credit union is a better strategic decision right now.‘
Is America’s banking system safe?
The data shows that the three American banks that have failed so far this year represent more deposits than the 25 banks that collapsed in 2008.
It was announced today, May 1, that San Francisco-based First Republic Bank was seized by federal regulators and sold off to JP Morgan, making it the third major U.S. bank to collapse in the past two months after Silicon Valley Bank and Signature Bank fell apart in March.
Financial experts are urging calm, suggesting everything will work itself out if we just trust the system. But you really have to wonder if this isn’t all happening by design.
The Fed is coming out in July with its new FedNow product, which will provide the platform for a central bank digital currency — a currency nobody really wants. I’ve yet to meet the first American who’s told me, “I just can’t wait to have that new digital dollar in my digital wallet.”
So, how do you get Americans to want a CBDC? You trash the existing fiat currency, that’s how. Create fear, even panic among the masses. Then you promise a way out through the launch of the new CBDC.
Federal regulators no doubt would love to see bank runs, as long as those bank runs are focused on the smaller and mid-sized banks, because that means more money flowing into the top-tier largest banks. When the dust settles, it’s my opinion that the Fed wants nothing more than to see a handful of large banks left standing. It will be much easier for them to deal with half a dozen big banks, as opposed to hundreds of small, medium and large ones, when making the historic transition to a truly cashless society.
So back to our question: Are U.S. banks safe?
Rebecca Walser of Walser Wealth Management is a certified financial planner and an attorney, as well as a follower of Jesus Christ (you can find her podcast here). Walser advised Americans to stop funneling their money into FDIC-insured banks, Treasury bonds and U.S. savings bonds, in an interview last week with Brannon Howse (interview starts at about the 2-minute mark).
Walser said credit unions are mutual cooperative organizations, owned by their members, “so it’s a cooperative not a bank,” and credit unions have their own separate insurance system. “For that reason I’m a big fan,” of credit unions, Walser said, adding that “A credit union is, I think, a better strategic decision right now.”
She said the FDIC is based on a lot of promises made by the federal government that are not backed up by any actual assets, just the perception of the “full faith and credit” of the federal government. At some point, people are going to be jolted by the realization of just how underfunded the FDIC system is.
“A government that is not accountable to its people has got a lot of problems,” Walser said, adding that we are in the middle of a global liquidity crisis.
“This is the economic crisis that we have been bracing for,” she said. “The de-dollarization, which the mainstream media has finally acknowledged is happening …these people have no understanding of what’s happening.
“We are at the end of a 100-year system…This change will come shockingly fast once it comes. Very fast, because of the nature of technology.”
In other words, one day the banks will just shut down with little or no warning. And when they reopen, nothing will be the same, and you will be at the mercy of the system, to one extent or another, based on your situation. Before they reopen, the banks must reset everyone into the new digital money system.
“I’m not heavily weighted to anything that’s backed by the full faith and credit of the U.S. Treasury,” Walser said. “So bank CDs that are FDIC-insured and U.S. treasuries and U.S. bonds, all of those for me, right now, are suspect. Risk gone. Very, very risk gone assets.”
Walser said the whole de-dollarization process will likely take place over a period of months, not years as some other analysts have projected.
“I pity the person who calls me a conspiracy theorist,” she told Howse near the end of the 50-minute interview.
The Daily Mail reported that the three banks that have failed so far this year held a combined total of $532 billion in assets, which — according to the New York Times and when adjusted for inflation — is more than the $526 billion held by all the US banks that collapsed in 2008 at the peak of the financial crisis.
That should be getting our attention.
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Thank you for the article. Blessed
Maranatha
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The *only* thing I want from these banks and this regime is the death of their corporate personhood. Both of these entities are too corrupt to reform. Sweeping them out of power completely is the only way to get back to a working system.
Anything less is just peeing into the wind.
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I understand what you’re saying about having funds in a credit union being potentially safer than having funds at a bank.
If the government moves to digital currency and drops the dollar altogether, where my money is won’t matter.
Isn’t that correct?
Thank you, Mr.Hohmann.
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Hi Susan. Eventually, yes. But the transition to a total digital economy could take 12 to 18 months or more. What I mean is, the digital currency could be introduced on a given day and then cash would gradually be phased out, meaning both currencies would be legal tender for a time. But the folks who have all their money in a bank could be forced into the digital economy sooner, due to the Fed’s direct control over those institutions.
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That makes sense!
I truly appreciate you taking the time to respond, Mr.Hohmann.
Thank you!
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Leo – “She said the FDIC is based on a lot of promises made by the federal government that are not backed up by any actual assets, just the perception of the “full faith and credit” of the federal government. At some point, people are going to be jolted by the realization of just how underfunded the FDIC system is…But you really have to wonder if this isn’t all happening by design.”
This latest story by Leo is a revelation of those empty promises by a dishonest, treacherous government, and an urgent recommendation to “be diligent to know the state of your flocks, and attend to your herds” (Proverbs 27:23).
About insurance for these bank failures, Janet Yellen said in March that the FDIC wasn’t considering providing “blanket insurance” for banking deposits following the collapse of Silicon Valley and Signature banks. Now with the collapse of the First Republic, they are saying they want to upgrade the $250,000 insurance policy for corporate customers of banks.
Newsmax came out yesterday with this story, “FDIC Recommends Overhauling US Bank Insurance”:
https://www.newsmax.com/finance/streettalk/fdic-banks-insurance-first-republic/2023/05/01/id/1118157/
“The Federal Deposit Insurance Corp. is recommending the U.S. rethink its decades-old policy of insuring up to $250,000 in bank deposits and replace it with an overhaul that would allow regulators to cover higher amounts on a “targeted” basis… Under the proposal, the FDIC would offer business account coverage at higher levels than ordinary consumer deposits receive, the FDIC said.”
Well, if they are going to cover corporate customers at “higher amounts,” where are they going to get the money to do that, especially if the FDIC system is already underfunded? By reneging on coverage to all of us “ordinary consumers” (little people) when there’s a bank failure so there will be enough for these businesses? That would essentially be a transfer of wealth from the least to the most wealthy.
Or is this just another empty promise to try to keep corporate customers of U.S. banks from panicking at the latest news and transferring their banking to other countries?
Leo and Rebecca are right when they say that these events are orchestrated and they are surely leading to the one-world economic system.
A seven-year government is a drop in the bucket, though, compared to the 1,000 year reign of our coming King, followed by eternity with Him.
Come quickly, Lord Jesus!
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According to Revelation 13, the one world economic system itself only lasts three and a half years. 42 months. But seeing how this is being implemented a bit at a time, that makes sense.
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Rachel – “According to Revelation 13, the one world economic system itself only lasts three and a half years. 42 months.”
Thanks for helping me see that, Rachel! I’ve read Revelation three or four times and yet my brain didn’t register it. I had been thinking that it would be the full seven years of the Tribulation.
That makes sense, scripturally and chronologically, because there are the two witnesses in Jerusalem for the first “one thousand two hundred and sixty days” of the Tribulation until they’re killed by the antichrist, resurrected after three days, and taken up to Heaven (Rev. 11:3-13). Then, it’s at the mid point of those seven years when this son of perdition fully takes his kid gloves off, enters the upcoming third temple and declares himself God (Dan. 9:27, 2 Thess. 2:4). For the final three and one half years, there is persecution by him and the successive Seals, Trumpets and Bowls judgments of God (Rev. 6 through 16).
The first three and one half years won’t be any picnic, though, because the two witnesses will be calling down judgments upon the world while they are proclaiming the Gospel – “prophesying” (Rev. 11:6).
But there will be the end to this rag-tag little globalists’ kingdom when our beautiful Yeshua Moshiach comes back (Zech. 14, Rev. 19:11-21):
“And then the lawless one will be revealed, whom the Lord will consume with the breath of His mouth and destroy with the brightness of His coming.”
(2 Thess. 2:8)
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Corporations and businesses with larger payrolls (not a few employees) need higher coverage, it is common sense they have to meet payroll and other expenses for large businesses.
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It’s a controlled demolition of… everything. I think of how they explained the twin towers, explosions went off on one floor at a time from the top down until it was a heap of rubble. We all know two planes can’t cause that much destruction. It almost seems like a model, a blueprint of their way of operating which I don’t think will stop there. C-19 was part of it, then comes the ‘climate crisis’ and whatever it takes to usher in their NWO in stages. Fear will get people to accept about anything. Don’t expect it to stop anytime soon.
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1blandina: These stages to usher in NWO proves voting in any election is useless, since politicians are puppets (some worse than others) and will do as told. Trump never drained the swamp because he was ordered not to. More swamp rats were appointed. Nixon, Reagan, Clinton scandals also stopped people from trusting politicians., incl us. Pres. Bush was in on the towers to get us into war. He stayed in that classroom w/ kids acted like it was normal.
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Not sure I can qualify for any credit union.
I’m thinking of closing my PNC account and opening a new one with a place that requires no balance or deposit for checking. And keep the balance low by regularly removing cash so there won’t be much to freeze.
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Rachel: see bank #10 on list. definitely get out find local bank or cr unionhttps://www.usbanklocations.com/bank-rank/derivatives.html
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This is true, serious things will definitely happen this year. Most of the people in the United States who get vaccinated and undergo nucleic acid testing will become zombies.
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hi2584: Zombie friends, co workers, other assoc. : ditch all those who you know joined the covid cult. Many of these dimwits got multiple boosters which is even worse. Who needs these foolish people in your circle. (incl cousins, siblings, etc. our parents both deceased) it would be hard to distance if parents are still living. Likeminded friends only.
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Mr. Leo, the most important issue you should pay attention to is not only currency issues, but also wars and zombies. Now there are some vaccinated people in China who have turned into zombies, and there are also aliens who will invade the United States.
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