Your golden parachute against bankruptcies and bank downgrades

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Earlier this year, Joe Biden promised the banking system was safe and sound.

Let’s check the facts and see if what he said is true.

Recently, ratings agency Moody’s downgraded the credit ratings of ten banks, moved eleven from stable to “negative” and put six other banks on credit watch, all because of their poor health.

That’s 27 banks. When Warren Buffet speaks, we should really listen. He saw it happen a mile and a half away.

Bank failures are starting to increase.

The most recent banking meltdown that the media doesn’t seem to talk about is that of the Heartland Tri-State Bank.

The FDIC just shut them down.

It is the fifth bank to fail in calendar year 2023.

Here is a small reminder of the other banks that have collapsed this year:

• Bank of Silicon Valley
• Bank of signatures
• Bank of the First Republic
• Pac West Bank

Some might argue that PacWest Bank did not collapse; they were bought. But they were only bought because they were collapsing and could not cover depositor withdrawals. The Bank of California took over all of PacWest’s assets for pennies on the dollar.

In the United States, 186 banks are at risk of collapse.

Earlier this year, the Social Science Research Network published a study revealing that 186 banks in the United States could collapse if half of their respective uninsured depositors withdraw their funds.

Let’s take a look at the ten banks whose credit rating was just downgraded by Moody’s:

• Bancshares Trading
• BOK Financial Corporation
• M&T Banking Corporation
• Former National Bank
• Prosperity Bancshares
• Amarillo National Bank
• Webster Financial Corporation
• Fulton Financial Corporation
• Pinacle Financial Partners
• Partner Banc-Corp

Box: According to the Federal Reserve, M&T Bank is the nineteenth largest US bank by assets and the largest lender on the list to receive a lower rating.

The rumblings are there if you listen.

Worse still, Moody’s also took the position that these 11 banks were no longer stable and transferred them to a “negative outlook» category or rating:

• PNC Financial Services Group
• Capital One Financial Corporation
• Citizens Financial Group
• Fifth Third Bancorp
• Huntington Bench Stock
• Financial Corporation of the Regions
• Cadence bank
• ETF Company
• Simmons First National Society
• Financial Ally
• OZK Bank

Continuing on these troubled waters, Moody’s also put six other banks on watch for possible downgrade. These are not small banks, far from it:

• American bank
• Bank of New York Mellon Corporation
• Northern Trust Company
• State Street Society
• Cullen/Frost Bankers
• Truist Financial Corporation

Do you see your bank on any of these lists? These are the first signs of disease and decay in our fractional banking system.

Our banking system is not sound – with $32 trillion in debt weighing down the economy.

Is it the start of 2008 again? What will the banking system look like in a year or two? Or five?

Joe Biden and Janet Yellen want to take this country to $50 trillion in debt over the next ten years. Do you think inflation is bad today? Hold on.

If you’re a small investor, saver, retiree, or near-future investor, it’s time to reconsider your stance on cash or paper assets.

Smart money buys gold for the sole purpose of protecting against financial ruin.

When will interest payments exceed taxes collected?

The Fed and countless central banks are buying and hoarding gold at record highs. We Americans should do the same.

Was Joe completely honest about the state of our banking system? I do not think so.

How can you act today?

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