A Financial Crisis Is Here!

10.23.23 - A Financial Crisis Is Here!

Gold last traded at $1,972 an ounce. Silver at $22.98 an ounce.

A Financial Crisis Is Here! U.S. Banks Are Closing Down Hundreds Of Branches And Laying Off Thousands Of Workers -The Economic Collapse Blog

I know that there is a lot going on in the world right now, but I just had to write about what is happening to our banks. High interest rates and chaos in the real estate industry are combining to put an enormous amount of pressure on our largest financial institutions. As a result, banks are getting very tight with their money, they are closing down hundreds of branches, and they are laying off thousands of workers. We are in the early stages of the worst financial crisis since 2008 and 2009, and I fully expect conditions to get even worse in the months ahead.

During the first week of October alone, U.S. banks closed a whopping 54 local branches…

Major US banks are continuing to close branches across the US, leaving an increasing number of Americans without access to basic financial services.

Bank of America axed 21 branches in the first week of October, according to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday.

Wells Fargo shuttered 15, while US Bank and Chase reported closing nine and three respectively.

In total, some 54 locations had either closed or were scheduled to close between October 1 and October 7.

That is just one week!