Tag Archives: Depression

First Republic the latest victim in US banking crisis

US Treasury disingenuously denies there is a banking calamity.

Ahmed Adel, Cairo-based geopolitics and political economy researcher

California-based First Republic Bank was seized by US financial authorities on May 1 and sold to JPMorgan Chase in a desperate effort to alleviate the two-month banking crisis that has gripped the US. First Republic became the second-largest bank by assets to collapse in US history after it announced a loss of more than $100 billion in deposits in the first quarter and failed to produce a satisfactory rescue plan. The federal government believes a total of $13 billion will have to be forked out to cover the bank’s losses.

When First Republic stock prices nosedived, US authorities solicited bids from potential buyers and then took possession. As part of the deal, the Federal Deposit Insurance Corporation (FDIC), an agency in charge of guaranteeing bank deposits, was appointed as the receiver of First Republic. The FDIC then immediately sold First Republic to the largest bank in the US, JPMorgan Chase, which will recover all the deposits and “almost” all the assets of the failed bank.

“Our government invited us and others to step up, and we did,” Jamie Dimon, JPMorgan’s CEO, said in a statement after the deal was announced.

“[The transaction] modestly benefits our company overall,” JPMorgan said in a news release.

It is no surprise that JPMorgan shares went up 4.3% in pre-market trading following its takeover. 

“Hopefully this will help stabilise everything,” Dimon said on a conference call with reporters before the US stock market opened.

It is recalled that the agency’s takeover and sale of First Republic comes only two months after the liquidation of Silvergate Bank — a cryptocurrency-focused bank — and the collapse of Silicon Valley Bank (SVB). This was then followed by Signature Bank, which closed only a few days after SVB.

The collapses not only affected the banking sector in the US because it was also felt across the Atlantic. Swiss banking giant Credit Suisse became a victim of the US banking crisis and was forced by regulators to merge with its rival, UBS.

It is recalled that US financial authorities in March reached a deal with 11 major banks to give a $30 billion handout to First Republic. This was obviously not enough to reassure investors as First Republic plummeted in value to only $654 million from more than $20 billion at the start of 2023, and $40 billion at its peak in November 2021.

Although First Republic seemingly appeared to be strong because of its wealthy clientele who deposited large sums, the banking defaults across the US scared customers. Because most First Republic loans were fixed-rate mortgages, a financial meltdown was guaranteed when the fixed-rate mortgages lost value due to soaring interest rates

First Republic is the second-largest bank in US history to collapse when not including investment banks, such as Lehman Brothers. With assets standing at $233 billion just days before the takeover, First Republic still only comes in second place due to Washington Mutual’s collapse during the 2008 financial crisis. Just like First Republic, Washington Mutual was ultimately acquired by JPMorgan.

Before the JPMorgan takeover, Nicolas Veron, an economist at the Peterson Institute for International Economics, said: “First Republic was identified as a problem bank as early as mid-March and the announcement of its closure is not a new reason to worry. If another bank proved to be fragile, that would be another problem.”

In trying to alleviate concerns despite the evident banking crisis, the US Treasury said: “The banking system remains sound and resilient, and Americans should feel confident in the safety of their deposits and the ability of the banking system to fulfil its essential function of providing credit to businesses and families.”

The crisis also comes as the Federal Reserve struggles to counter inflation through massive interest rate hikes, which they will expectedly do once again in May. 

The latest bank collapse was followed by Treasury Secretary Janet Yellen warning that the US may not be able to meet its debt obligations “as early as June 1” if Congress does not raise the debt limit.

“After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time,” Yellen wrote in a letter to Congress on May 1.

The letter also highlighted that “federal receipts and outlays are inherently variable, and the actual date that Treasury exhausts extraordinary measures could be a number of weeks as more information becomes available.”

“Given the current projections, it is imperative that Congress act as soon as possible to increase or suspend the debt limit in a way that provides longer-term certainty that the government will continue to make its payment,” Yellen urged.

This once again demonstrates that for all the brave talk by the Treasury, there is immense stress on the US financial and banking system, something that is only worsening as Washington continues to pump billions of dollars to the Kiev regime, an action that is proving increasingly unpopular in the country as well as Europe.

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While the Water is Drying up and Americans Sell their BLOOD to make ends meet, DC is set to LEGALIZE Public Urination

black bird perched on bare tree

Today’s headlines aren’t pretty at all but the one coming out of Washington DC is the icing on the crap cake. As the USA sinks further into 3rd world nation status (maybe worse) we have the city council in Washington DC voting to legalize public urination and to essentially decriminalize crimes such as burglaries, carjacking’s and robberies. Here is more from Frontpage Magazine.

When your whole city’s a toilet, why not embrace it?

The D.C. Council is expected to take the first of two votes Tuesday on a massive rewrite of its criminal code. If passed, the bill would eliminate most mandatory minimum sentences, allow for jury trials in almost all misdemeanor cases and reduce the maximum penalties for offenses such as burglaries, carjackings and robberies.

Assume that there’ll be a lot more burglaries, carjackings and robberies.

Not to mention public urination.

Mayor Muriel Bowser and Police Chief Robert Contee III are pushing back hard on parts of the plan they don’t agree with, and say the council is rushing to beat an arbitrary deadline.

At a news conference Tuesday, the mayor said the concern is over the decriminalization of certain public nuisances, such as urinating in public or noise violations.


Meanwhile in the American SW they’re quickly running out of water due to a severe long term drought that’s been going on for 2 decades, but that’s ok let’s let the megafarms that are owned by FOREIGN CORPAORATIONS siphon off the water and then ship the crops overseas! Does that sound stupid to you? It is stupid and other countries would NEVER allow it but that is exactly what’s happening in the Colorado River Basin and in Wenden AZ in this story from the Daily Mail.

Drinking water for residents of Wenden, Ariz., has started to dry up as megafarms owned and backed by sovereign nations use it to grow their crops instead.

Groundwater is a necessity to grow agriculture in the Southwest, and while the Colorado River Basin is going through a prolonged drought, overused aquifers in Arizona are rapidly being exhausted, affecting the local lifestyle and economy.

In fact, workers with the state’s water district watched, with the aid of a camera lowered into the town’s well, the water moving, CNN reported.

That’s because, according to Gary Saiter, a resident and head of the Wenden Water Improvement District, the water was being literally and rapidly pumped out of the ground by a neighboring well belonging to a United Arab Emirates-based company. 

It’s important because residents of towns Wenden and Salome get their water from the same source as farms – underground pools – but declining water tables in the area show levels have dropped from about 100 feet in the 1950s to about 540 feet in 2022.

While Arizona’s La Paz County is experiencing its worst drought in 1,200 years, as are other areas in the state and Southwestern region of the Unite States, foreign-owned farms growing crops requiring extensive amounts of water, such as alfalfa, are being blamed for the dry spell. 

Source Daily Mail

Then we move onto the economy in the USA as Americans continue to suffer under the highest inflation rates ever experienced! The numbers of people working multiple jobs are way up and now Americans are having to SELL THEIR BLOOD and plasma to make ends meet! Here is more from the Guardian.

Millions of Americans are currently working two or more jobs in order to make ends meet, as global inflation and corporations jacking up prices have sent prices of food, gas, housing, health insurance and other necessities soaring in the past year.

Cashe Lewis, 31, of Denver, Colorado works two jobs and is currently trying to find a third job to cover the recent $200 monthly rent increase to her apartment. She works days as a barista at Starbucks, but claims it’s been difficult to get enough hours even with taking extra shifts whenever she can due to scheduling cuts as part of the crackdown on union organizing by management.

At night she works at a convenience store because the hours are reliable, and works six days a week, often 16 hours a day.

“I’m exhausted all the time,” said Lewis. “On the one day I have off a week, I donate plasma for extra money. I’m literally selling my blood to eat because I have no choice.”

Her partner suffers from epilepsy and can’t work full-time hours because of it. Even with insurance, their medication is expensive and she spends about half of a two-week paycheck at Starbucks to cover the health insurance premiums.

Over the past five years, she has struggled with homelessness, and was previously fired from her job for sleeping in her car behind her place of employment.

“All of my friends and family work multiple jobs as well, just trying to keep our heads above water. Nothing is affordable and the roadblocks set up to keep people in the cycle of poverty benefit the most wealthy members of our society,” added Lewis. “We aren’t living, we’re barely surviving and we have no choice but to keep doing it.” Source The Guardian

Johnny’s Commentary

There it is right in front of you, the final demise of America. It is sad to watch as we all grew up believing in the illusion of “truth, justice and the American way” from the end of WW2 and forward. The systems that ran the show underneath it all were always corrupt and the cesspool that is Washington DC is now going to literally be one as they decriminalize public urination!

The reduction in penalties for robbery and carjacking is also alarming as it will just encourage more crime as it has in other places like NYC, LA, Seattle, San Francisco and even where I live in Spokane WA. Property crime is off the hook as the criminals and crackheads know they probably won’t even be arrested and if they are they’ll be out in the morning. The police and sheriffs all say the same thing, their hands are tied because of the laws that they city councils have been passing.

Meanwhile America continues it’s policies of self destruction by allowing foreign corporations to buy up American farmland (who in the BLEEP thought that was a good idea?) and then allow them to ship the crops back home to places like the UAE and Saudi Arabia. Homes and businesses in the same places, like Wenden AZ can’t get enough water and the aquifers are drying up!

The economy has become so bad due to inflation people are selling plasma to make ends meet as rent, food, fuel and everything keeps going up in price. I don’t care what the media or government say about the inflation rate, it is easily triple or quadruple more than they will admit to and they don’t count fuel or food anymore. We all know many things have gone up 50% or more like the coconut oil example I gave last week.

But hey let’s go ahead and send Ukraine billions in military and financial aid in order to fight a proxy war against Russia because that will help the average American remain free. This is the narrative they want you to believe. They also want you to believe that men can have periods and get pregnant. Folks America (mystery Babylon) is about to disappear into the dustbin of history. There won’t be anything left.

Pray up and prep up, time is short.

Wasteland…by Dennis Cameron

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The Battle for Your mind rages on, It’s time to Kick the Devil OUT OF YOUR HEAD!

Satan Accuses Day and Night

We all struggle with this battle, especially in today’s dark times. The devil rages and accuses us 24-7, telling us how worthless we are and it’s time to KICK HIM OUT OF YOUR HEAD in JESUS’ name! As Carter Conlon teaches in this lesson, Gods voice is loving, it reminds you of how precious you are to Him first, then God will gently address anything He’s not pleased with.

Whereas Satan is always the accuser, he will always try to bring you down and he lies nonstop. Jesus told us Satan was the father of lies and the accuser but always remember that he is a DEFEATED foe! Remind Satan of his future when he attacks your mind. Rebuke him in Jesus name and stand firm! You have the MOST HIGH GOD standing over your shoulder on the playground. Nothing else matters. Kick the devil out TODAY in Jesus’ name!

Below is an excellent lesson on this subject from Carter Conlon at Times Square Church in NYC. I pray it helps you like it did me today. God bless,


The Constant Battle For your Mind

RUMOR Mill Says Deutsche Bank in Bankruptcy Proceeding

There are RUMORS coming out of Germany this afternoon that Deutsche Bank has ALLEGEDLY filed Bankruptcy. This wouldn’t surprise me the bank posted at 928 Million dollar net loss in the 3rd quarter! That goes along with an 18,000 job loss during the same period.

When the banking system does go, whether it’s now or in the near future be prepared for daily life to change drastically! Here is a video I did earlier on the subject. God bless and stand firm!