In this video episode from the Liberty & Finance channel, Elijah K Johnson interviews financial author Bob Moriarty of 321Gold.com … Bob discusses the collapse of First Republic Bank, stating that the bank has already collapsed and will be closing down, possibly on Monday … the bank had $200 billion in deposits a month ago, but this has since decreased to $105 billion, leaving the bank with around $65-66 billion in uninsured deposits …

The Federal Reserve now faces a tough decision on whether to backstop the bank at $65 billion or let the depositors take the hit … if the Federal Reserve backs the bank, it could lead to more inflation and taxpayers bearing the burden … on the other hand, if the depositors take the hit, it could cause big problems for the 11 banks that have pledged $30 billion to First Republic, and possibly put their $100+ trillion in derivatives at risk.

Moriarty warns of the possibility of systemic contagion resulting from the collapse of First Republic, comparing it to the 1931 collapse of the Credit Anstalt Bank in Austria … he argues that the banking system is bankrupt, and there will be losses that no one wants to take … and the Federal Reserve is faced with no good options and will be forced to decide whether or not to bail out First Republic.

Furthermore, Bob warns that European banks are in worse shape than American banks, and that more banks will collapse in the near future …. he notes that the world has $300 trillion in debt that can never be paid back, leaving the question of who will take the hit … highlighting the potential for systemic contagion in the banking sector.

See the original video here …
https://www.youtube.com/watch?v=JtMDDdV2eeY

Related article …

Banks that Put Up $30 Billion to “Rescue” First Republic May Have Been Trying to Rescue their Own Exposure to $247 Trillion in Derivatives …
https://wallstreetonparade.com/2023/04/banks-that-put-up-30-billion-to-rescue-first-republic-may-have-been-trying-to-rescue-their-own-exposure-to-247-trillion-in-derivatives/
By Pam Martens and Russ Martens
April 27, 2023

This video was created by Liberty and Finance … view, support, & engage with more Liberty and Finance content at the following links …

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