Saturday, 26 October 2024

A Top 4 Bank JUST Freaked Out — “Major WARNING”

100 Percent Fed Up
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Major Warning!

No, that’s not my words, those words come from Kevin Paffrath, better known as “MeetKevin” on YouTube where he has nearly 2 million followers.

Why?

Because people care what he has to say and he’s often not just right but accurate in predicting the trends that are soon about to hit us in the economy.

Kevin has historically been mostly bullish on the U.S. economy, so when I see him post concerns it especially catches my attention.

And here’s what he just posted this morning:

Let me explain more….

Here’s a quick summary of what Citibank just posted, all of which is very bad news for the U.S. economy and quite frankly lines up perfectly with what we’ve been warning you about for the past few months:

Even more here, from eHack:

➡ For two years, the US economy has been resilient, defying forecasts for a slowdown. However, the cycle finally appears to be turning. A pullback in consumer spending, slowing core inflation (as pricing power rapidly dissipates), and a projected significant softening in labor markets led Citi to project the first Fed rate cut in July, with cuts at each subsequent meeting through June 2025 (totaling 200 basis points).
👥 I’m surprised they agree with Standard Chartered on the first cut coming in July. Most banks are taking the September approach.
✅ The market is currently pricing in fewer than two cuts for the year.

👥 Many banks have different opinions about this. I agree with Standard Chartered’s projection of three cuts this year, starting in July, due to softening economic data. Most other banks are forecasting two cuts.
✅ The consumer is STRESSED. Here is some data to support this:

👥 The tailwinds to consumer spending have faded, especially for lower-income and lower-net-worth individuals. Credit card delinquency rates are, by some measures, the highest since 2007, and the share of income going to interest expense and rent has increased rapidly.
✅ Goods spending is now contracting again, and food service spending is also declining. This impacts restaurants and companies like DoorDash.

👥 Consumer spending will pull back more sharply if the labor market weakens further. There are already signs in survey data that individuals are becoming more concerned about losing their jobs and the possibility of finding a new one.

👥 Forward-looking indicators suggest the labor market will soften further. See below.

UPCOMING CATALYST:
👥 The May unemployment rate in the employment report may turn out to be a very important catalyst. Citi expects an increase in the unemployment rate to 4.0% in May, driven by weak hiring in sectors like leisure and hospitality and construction.
👥 We have seen this in earnings calls from single-family developers. They have stated that, on average, construction is taking 25% longer than it did pre-2019 due to construction labor shortages aimed at keeping labor costs down.

RELATED REPORT:

SPECIAL ALERT: Here Come Bank “Bail-Ins”!

WARNING!  WARNING!

You’ve heard of bank bailouts.

We all learned about those back in 2008/09.

And last weekend.

But there’s something new they’re going to roll out this time around….Bank Bail-INS.

Why bail out a bank with money from Congress if you can just take the money right out of your existing bank account!

Gee, what a novel concept!

In other words, this:

That’s a funny clip, but this is no laughing matter.

This is very real.

And once again I’m warning you that it’s coming before it happens….so maybe you can protect yourself!

It’s not just me and my crazy ideas….here is one of the top financial YouTubers, Meet Kevin, talking about it:

And my man, Patrick Bet David too from just a few days ago:

Now check this out….

Video has leaked from closed door Fed meetings where they talk about how they can’t possibly warn the public (i.e. we can’t tell the public the truth!) because it will lead to mass hysteria.

Stunning.

They won’t tell you the truth, but we will.

Watch this:

More here:

Why Bank Bail-Ins will be the new bailouts:

https://twitter.com/VersanAljarrah/status/1616842617026658305

It’s coming:

ChatGPT knows EXACTLY what they are:

Bank bail-ins are a method of resolving a failing bank’s financial difficulties by requiring the bank’s shareholders and creditors to contribute to the bank’s recapitalization, rather than relying solely on taxpayer funds. In a bail-in, the bank’s creditors, including bondholders and depositors with balances over a certain threshold, may have a portion of their holdings converted into equity in the bank or written off completely.

This approach is intended to protect taxpayers from having to bail out a failing bank, and instead puts the burden on the bank’s investors and creditors to bear the losses. Bail-ins are generally seen as a way to increase the accountability of banks and their investors, and to create incentives for banks to operate more prudently and manage risks more effectively.

Bail-ins have been implemented in various countries as part of financial regulatory reform efforts following the global financial crisis of 2008-2009. The European Union, for example, introduced a bail-in framework in 2014 that requires failing banks to first use their own funds and resources to address their financial difficulties before seeking public support.

Translation of that bold part: say you had $100,000 in a bank account.

One day they just decide a “bail in” is necessary and now you have $50,000.  Or $25,000.

But they will thank you for doing your patriotic duty!

Wow, not me folks!

No way.

I’m going Crypto and Gold & Silver.

That’s just me, but I like my money where the thieves can’t just take it!

Here’s more:

Of course the Government is telling you NOT to withdraw your funds….they’re safe!

Look, I can’t tell you what to do, I’m not a financial advisor.

But me personally?

I have a big chunk of my assets in crypto and another big chunk in precious metals.

I keep as little as possible in the banks.

That’s just what helps me sleep best at night.

Here’s more on gold:

Here’s Why Central Banks Are Buying All the Gold They Can — And What YOU Can Do!

For the last year, central banks across the globe have been buying up as much gold (and often silver) as they can acquire without raising alarm bells. Now, we see why.

The recent bank runs and ongoing collapse of the U.S. banking system was anticipated by the “elites” and the central bankers who run things behind the scenes. They saw it coming and knew the best way to protect their assets was through physical precious metals.

If you’ve been waiting for me to bring you a solution about what YOU can do to protect yourself and you’re family, I’m happy to introduce you to something I absolutely love!

Precious metals.

I just talked about precious metals this week with Bo Polny and now I’m bringing you a solution that you can utilize right away if you’re so inclined…

A faith-driven, conservative precious metals company is currently helping Americans tap into the rising precious metals market through self-directed IRAs backed by physical precious metals. And while this service is not unique to Genesis, their adherence to Biblical stewardship of money makes them singularly qualified to receive a sponsored recommendation from this site.

Unlike most companies offering similar services, Genesis deals only with physical precious metals. They do not offer “virtual” or “paper” gold or silver.

With Genesis and their depositories, customers can see and touch the precious metals that back their retirement accounts. When it comes time to take distributions, Genesis customers can cash in some or all of their precious metals or have them delivered to their door.

Central bankers aren’t slowing down. In fact, nations like China and even U.S. states like Tennessee are quickly but quietly buying up gold to back their own treasuries. When the writing on the wall is this clear, it’s understandable why these governments are moving quickly to get ahead of any potential economic catastrophes in store.

Working with Genesis is the best way our readers can explore the physical precious metals market through self-directed IRAs. It benefits us as well when our readers work with this America-First company.

Visit genesiswlt.com or call 866-292-0443 today.

Don’t wait too long, we might have more bank failures right around the corner.

You know what has NEVER “failed”?

Gold.  Precious metals.  Indestructible.

There’s a reason they call it “God’s money”.

Watch this for more:

This is a Guest Post from our friends over at WLTReport.

View the original article here.


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