The System is Starting to Unravel at a Pace That is Absolutely Breathtaking

May 01, 2023

by Michael Snyder The Economic Collapse Blog

It should have been apparent to everyone that the dark clouds on the horizon would bring a storm, and now rain is furiously falling all around us. Our entire system is being viciously shaken, and the dominoes are going to continue to fall in the months ahead. Once Silicon Valley Bank and Signature Bank went down, we all knew that it was just a matter of time before more large banks started to implode. Now First Republic has failed, and over the weekend U.S. regulators were working very hard to arrange a sale…

U.S. regulators have been trying to clinch a sale of First Republic over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely to be the third major U.S. bank to fail in two months. Guggenheim Securities is advising the FDIC, two sources familiar with the matter said on Saturday.

As a I write this article, that still hasn’t happened yet.