Jaimie Dimon, JPMorgan Bank’s CEO says that the banking crisis is not over yet. While much of the mainstream media has moved on from this epic central baking preplanned failure, Dimon added that “even when it is behind us, there will be repercussions from it for years to come.”
The recent banking issues in the United States began with the collapse of Silicon Valley Bank, which was closed by regulators on March 10 as depositors pulled tens of billions of dollars from the bank. Bank runs at several other banks ensued, helping to push others to the brink of collapse as well.
The smaller Signature Bank was closed two days later. And in Europe, Swiss regulators brokered a purchase of Credit Suisse by UBS. JPMorgan and other large banks stepped in to make $30 billion of deposits at First Republic, another regional bank that investors feared could become the next SVB.
“As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come,” the longtime CEO said in his annual letter to shareholders on Tuesday. “But importantly, recent events are nothing like what occurred during the 2008 global financial crisis,” he added.
“Any crisis that damages Americans’ trust in their banks damages all banks – a fact that was known even before this crisis. While it is true that this bank crisis ‘benefited’ larger banks due to the inflow of deposits they received from smaller institutions, the notion that this meltdown was good for them in any way is absurd,” Dimon wrote according to a report by CNBC.
He added: “The recent failures of Silicon Valley Bank (SVB) in the United States and Credit Suisse in Europe, and the related stress in the banking system, underscore that simply satisfying regulatory requirements is not sufficient. Risks are abundant, and managing those risks requires constant and vigilant scrutiny as the world evolves.”
This is only the beginning. The ruling class will eventually crash the entire financial system to bring about the central bank digital currency. When that happens, we are all going to have a choice and they will definitely make slavery look appealing.