Just Now: Biden Insists Banking Assets Safe - But is this Just the Beginning?

Following SVB and Signature Bank Failures, Our advisors say "GET TO SAFETY!"

The world has awakened to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Silicone Valley Bank closed it’s doors on Friday, March 10th, after announcing it had lost over 200 billion in customer’s deposits. The news sparked a fear driven bank run with frantic customers seeking to withdraw their money, only to find the doors at SVB were closed.

If the President of the United States has to come out of his closet to assure Americans that your assets are safe, having just bailed out depositors of more than $200B, then you know that there is a problem - a big problem.

And after this statement we learn just an hour ago that the next one, First Republic Bank, is down 73% in stock value. Many other banks have dropped dangerously low as well:

And… just a couple of hours after this chart showed up this morning, Republic Bank dropped from 33% all the way to 73% down in value, and Western Alliance Bancorp is down 75% - rendering them the most likely to fail next.

From the New York Times - “The implosion of Washington Mutual, as well as the investment banks Lehman Brothers and Bear Stearns, was followed by a systemwide failure. From 2008 to 2015, more than 500 federally insured banks failed”

“Last weekend has already produced a major financial upheaval in the US banking system…portending a possible a crash “on an epic scale…the likes of which we haven’t seen since the 2007–2008 Global Financial Crisis (GFC).”

Here’s what we learned about Precious Metals in less than 5 minutes on RichardGage911:UNLEASHED! directly from Kirk Elliot, PhD:

JD Rucker exclaims, “Nations, states, and central banks are quietly but rapidly shifting their money to precious metals. With bank runs, recession, CBDCs, and worse on the horizon, it’s easy to see why. NOW is the time to learn more about moving portions of your retirement or wealth to a self-directed gold and silver IRA…”

As written today by Red State: “The move to shutter the second bank is seen in the financial world as a race to contain the fallout from SVB’s collapse. The Fed is trying to auction the bank’s assets off, accepting bids until Sunday night. There is concern in Washington D.C. that this is the beginning of a bigger financial crisis, one that could rival the Global Financial Crisis from the Bush and early Obama years. The worry from folks like my colleague Streiff is that this is a very big and very slippery slope toward nationalizing the financial markets.

“That’s part of the endgame. A manufactured and semi-controlled economic collapse will give the powers-that-be the predicate they need to force a Digital Dollar upon us sooner rather than later. This is why I strongly urge Americans to start stocking up on essentials now. Tighten your financial belts. Cancel amenities and reduce frivolous spending if appropriate. Things are getting very rocky and if this really is by design as I suspect, it’s not going to get any better soon.

“This is also why I am telling friends and family to move their retirement funds to self-directed precious metals IRAs. I am not a financial advisor but it makes a whole lot of sense to me to get wealth as far away from other markets as quickly as possible.

“Only 2% of all deposits in the US are FDIC insured. This is catastrophic news for many… This includes cryptocurrencies, 401k’s, (investments?)

“The Feds made an announcement late on Sunday, that ALL lost deposits would be recovered. The immediate assumption is that we, the tax payers, would ultimately pay for these great losses. However, it was stated that is not the case. So who pays this huge debt of losses?

“Still don't believe banks are going down?:

“Trading of the stock in Credit Suisse was HALTED overnight after another 15% plunge in its stock value. Commerzbank dropped 11%. In the USA, Federal Republic dropped another 66%, with Western Alliance Bancorp down 52% and PacWest down 37% in pre-market trading.”

And from the Epoch Times: “Bank Runs Feared Amid SVB Crash; Domino Effect Could Roll Through Economy”.

“During the weekend, a major bank started making headlines, when Depositors at Wells Fargo reported problems with account balances and funds availability had NOT been fixed by the bank. Moreover, Depositors in Bank of America put videos on social media showing lines at some BoA branches filled with customers who could not get answers from the bank's customer service department.”

“Whether any of this turns into BANK RUNS today, remains to be seen.” (Hal Turner)

Greg Reese of the Reese Report highlights the problem in two minutes:

“Despite a staggering loosening of credit available to banks from the Federal Reserve over the weekend, Investor confidence is still plummeting for most of the same banks that saw this trouble late last week.”

“And Look: UPDATE 9:57 AM EST --

“Looks as though Investors are ***NOT*** accepting government assurances about Banks.  Biden just came out at the White House to tell the public "the Banks are safe" but stocks now dropping for ADDITIONAL Banks:

“First Republic Bank down 66%

“Western Alliance Bancorp down 75%

“PacWest Bancorp down 46%

“Zions Bancorp down 44%

“Bank of Hawaii down 42%

“Customers Bancorp down 54%

“East West Bancorp down 32%

Comerica down 39%”

With the potential of a world-wide financial crash effecting our personal assets, Richard and I have been advised that we can ignore the warnings and hope that we won’t be too terribly scathed by it. However, if we fail to acknowledge what’s really happening, then we could lose what little we have. On the other hand we can prudently diversify our assets to include time-honored hard assets like precious metals, which only rise in times like this.

RichardGage911 held an exclusive 20minute interview with Kirk Elliot, PhD last year and learned in 20 minutes how the system really works:

We hope that you will find your own way to secure your assets. If you want to do that, and also help RichardGage911 at the same time with no additional cost to you, then consider your purchase or investment with Kirk Elliott, PhD: