• JPMorgan Chase, BlackRock drop out of massive UN climate alliance in stunning move
    https://www.foxbusiness.com/politics/jpmorgan-chase-drops-out-of-massive-un-climate-alliance-in-stunning-move
    JPMorgan Chase, BlackRock drop out of massive UN climate alliance in stunning move https://www.foxbusiness.com/politics/jpmorgan-chase-drops-out-of-massive-un-climate-alliance-in-stunning-move
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  • 64 US Bank Branches File To Shut Down In A Single Week; Are You Affected?
    November 27, 2023
    By Naveen Athrappully

    Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years.

    Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida.

    JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts.

    Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois.

    Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California.

    Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each.

    Altogether, banks filed to shut down 64 branches.

    The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic.

    According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000.

    One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes.

    A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month.

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    “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement.

    Cost Saving, Negative Effects

    Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs.

    Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers.

    On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away.

    “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said.

    “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.”

    A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches.

    PNC Bank Closure

    PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.”

    At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts.

    PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are:

    202 N. Walnut St., Bath, Pennsylvania
    301 W. Trenton Ave., Morrisville, Pennsylvania
    14 N. Main St., Plains, Pennsylvania
    1969 E. 3rd St., Williamsport, Pennsylvania
    2 N. Mill St., New Castle, Pennsylvania
    321 Bel Air Blvd., Mobile, Alabama
    2811 Eastern Blvd., Montgomery, Alabama
    5650 S. Brainard Avenue, Countryside, Illinois
    2217 W. Market St., Bloomington, Illinois
    1949 E. Sangamon Ave., Springfield, Illinois
    505 West Liberty Street, Wauconda, Illinois
    8733 U.S. Highway 31 South, Indianapolis, Indiana
    528 Station Ave., Hadden Heights, New Jersey
    410 Main St., Orange, New Jersey
    115 E. Van Buren Ave., Harlingen, Texas
    407 S. Commerce St., Harlingen, Texas
    801 W. Kearney St., Mesquite, Texas
    1040 Mt. Vernon Ave., Columbus, Ohio
    1140 N. Main St., Gainesville, Florida
    In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online.

    A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16.

    Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent.


    Above Phone De-Googled Private Communications: SHOP
    The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent.

    “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters.

    “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.”

    Source: The Epoch Times via ZeroHedge

    Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.

    Image: Pixabay

    Or support us at SubscribeStar
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    Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened.

    Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today.

    https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? November 27, 2023 By Naveen Athrappully Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years. Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida. JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts. Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois. Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California. Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each. Altogether, banks filed to shut down 64 branches. The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic. According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000. One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes. A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month. Activist Post is Google-Free — We Need Your Support Contribute Just $1 Per Month at Patreon or SubscribeStar “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement. Cost Saving, Negative Effects Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs. Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers. On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away. “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said. “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.” A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches. PNC Bank Closure PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.” At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts. PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are: 202 N. Walnut St., Bath, Pennsylvania 301 W. Trenton Ave., Morrisville, Pennsylvania 14 N. Main St., Plains, Pennsylvania 1969 E. 3rd St., Williamsport, Pennsylvania 2 N. Mill St., New Castle, Pennsylvania 321 Bel Air Blvd., Mobile, Alabama 2811 Eastern Blvd., Montgomery, Alabama 5650 S. Brainard Avenue, Countryside, Illinois 2217 W. Market St., Bloomington, Illinois 1949 E. Sangamon Ave., Springfield, Illinois 505 West Liberty Street, Wauconda, Illinois 8733 U.S. Highway 31 South, Indianapolis, Indiana 528 Station Ave., Hadden Heights, New Jersey 410 Main St., Orange, New Jersey 115 E. Van Buren Ave., Harlingen, Texas 407 S. Commerce St., Harlingen, Texas 801 W. Kearney St., Mesquite, Texas 1040 Mt. Vernon Ave., Columbus, Ohio 1140 N. Main St., Gainesville, Florida In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online. A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16. Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent. Above Phone De-Googled Private Communications: SHOP The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent. “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters. “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.” Source: The Epoch Times via ZeroHedge Naveen Athrappully is a news reporter covering business and world events at The Epoch Times. Image: Pixabay Or support us at SubscribeStar Donate cryptocurrency HERE Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened. Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today. https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
    WWW.ACTIVISTPOST.COM
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? - Activist Post
    Multiple states continue a troubling pattern of rising branch shutdowns in recent years.
    1 Comments 0 Shares 13068 Views
  • JPMorgan Chase and PNC Bank filed for closing over a dozen branches each, along with other major banks across the country. Are you affected?
    JPMorgan Chase and PNC Bank filed for closing over a dozen branches each, along with other major banks across the country. Are you affected?
    WWW.ACTIVISTPOST.COM
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? - Activist Post
    Multiple states continue a troubling pattern of rising branch shutdowns in recent years.
    0 Comments 0 Shares 557 Views
  • JPMorgan's Shocking Take on Binance Settlement: A Win for Crypto or a Wolf in Sheep's Clothing? | #JPmorganBinanceSettlement #CryptoIndustryImpact #FutureofCryptoRegulation #DecentralizedFinance #FinancialMarkets https://youtu.be/WlgyTrPAcZE
    JPMorgan's Shocking Take on Binance Settlement: A Win for Crypto or a Wolf in Sheep's Clothing? | #JPmorganBinanceSettlement #CryptoIndustryImpact #FutureofCryptoRegulation #DecentralizedFinance #FinancialMarkets https://youtu.be/WlgyTrPAcZE
    0 Comments 0 Shares 3354 Views
  • Government Sachs Enters Geopolitics — “New World Next Week” with James Corbett and James Evan Pilato
    November 9, 2023
    By The Corbett Report

    Welcome to #NewWorldNextWeek – the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news. This week:

    Story #1: Goldman Sachs Enters Geopolitical Advice Business

    https://archive.is/RIbZg

    George Cabot Lee

    https://www.goldmansachs.com/about-us/people-and-leadership/leadership/management-committee/george-lee.html

    Jared Cohen

    https://en.wikipedia.org/wiki/Jared_Cohen

    The People From ‘Government Sachs’; Paulson, Kashkari & Others Carried the Bag For The Bush Administration

    https://web.archive.org/web/20170317043128/https://www.nytimes.com/2017/03/16/business/dealbook/goldman-sachs-goverment-jobs.html

    Goldman Sachs Was Top Obama Donor

    https://web.archive.org/web/20100423131347/https://www.cnn.com/2010/POLITICS/04/20/obama.goldman.donations/index.html

    Trump Continues White House’s Goldman Sachs Revolving Door Tradition

    https://archive.is/WSj7Y

    Goldman Sachs Vets Quietly Added to Biden Transition

    https://archive.is/K65YR

    Interview 1252 – Nomi Prins Exposes Government Sachs

    https://www.corbettreport.com/interview-1252-nomi-prins-exposes-government-sachs/

    Government Sachs Gets Golden Wrist Slap For Global Financial Crisis

    https://www.corbettreport.com/government-sachs-gets-golden-wrist-slap-for-global-financial-crisis/

    Episode 315 – Meet Goldman Sachs, the Vampire Squid

    https://www.corbettreport.com/episode-315-meet-goldman-sachs-the-vampire-squid/

    Interview 1249 – Carey Wedler on How Government $ach$ Won The (s)Election

    https://www.corbettreport.com/interview-1249-carey-wedler-on-how-government-ach-won-the-selection/

    Conspiracy Theories | Jigsaw

    https://jigsaw.google.com/the-current/conspiracy-theories/

    There’s a News Black Out on the Strange Doings in the JPMorgan Chase/Jeffrey Epstein Sex Trafficking Case in Manhattan

    https://wallstreetonparade.com/2023/11/theres-a-news-black-out-on-the-strange-doings-in-the-jpmorgan-chase-jeffrey-epstein-sex-trafficking-case-in-manhattan/

    Story #2: Germany to Tighten Immigration Rules

    https://english.news.cn/20231108/f122ac4c75ea44b4be1f4cdd1a15bf24/c.html

    Japan Plans to Demonetise Its Elderly

    https://www.firstpost.com/world/japan-plans-to-demonetise-its-elderly-heres-why-12948862.html

    Japan Plans to Combat Scams By Taking Elderly People’s Bank Cards Away: “People Are Going To Panic”

    https://www.scmp.com/week-asia/people/article/3229623/japan-plans-combat-phone-scams-taking-elderlys-bank-cards-away-people-are-going-panic

    Episode 453 – Don’t Worry! The Border Problem is About to be Solved!

    https://www.corbettreport.com/borders/

    Story #3: NJ Parents File Federal Class Action Lawsuit Challenging State’s Secret Retention Of Newborn Blood For 23 Years

    https://ij.org/press-release/new-jersey-parents-file-federal-class-action-lawsuit-challenging-states-secret-retention-of-newborn-blood-for-23-years/

    Announcing the DNA Control Grid

    https://www.corbettreport.com/articles/20090227_dna_control.htm

    Episode 118 – Who Owns Your DNA?

    https://www.corbettreport.com/episode-118-who-owns-your-dna/

    Podcast: Play in new window | Download | Embed

    Watch on Archive / BitChute / Odysee / Rokfin / Rumble / Download the mp4


    Above Phone De-Googled Private Communications: SHOP
    The ‘New World Next Week’ Store

    https://newworldnextweek.com/

    The Corbett Report Sticker

    https://newworldnextweek.com/products/the-corbett-report-sticker

    Media Monarchy Music Compilations (Digital Download)

    https://newworldnextweek.com/products/media-monarchy-music

    Become a member of Corbett Report (https://corbettreport.com/members) and Media Monarchy (https://mediamonarchy.com/join) to help support independent media.

    Those in the US who want to support our work can send cash, check or money order to:

    Media Monarchy

    P.O. Box 189

    El Rito, NM 87530-0189

    Thank You.

    Source: The Corbett Report

    Or support us at SubscribeStar
    Donate cryptocurrency HERE

    Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened.

    Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today.
    Government Sachs Enters Geopolitics — “New World Next Week” with James Corbett and James Evan Pilato November 9, 2023 By The Corbett Report Welcome to #NewWorldNextWeek – the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news. This week: Story #1: Goldman Sachs Enters Geopolitical Advice Business https://archive.is/RIbZg George Cabot Lee https://www.goldmansachs.com/about-us/people-and-leadership/leadership/management-committee/george-lee.html Jared Cohen https://en.wikipedia.org/wiki/Jared_Cohen The People From ‘Government Sachs’; Paulson, Kashkari & Others Carried the Bag For The Bush Administration https://web.archive.org/web/20170317043128/https://www.nytimes.com/2017/03/16/business/dealbook/goldman-sachs-goverment-jobs.html Goldman Sachs Was Top Obama Donor https://web.archive.org/web/20100423131347/https://www.cnn.com/2010/POLITICS/04/20/obama.goldman.donations/index.html Trump Continues White House’s Goldman Sachs Revolving Door Tradition https://archive.is/WSj7Y Goldman Sachs Vets Quietly Added to Biden Transition https://archive.is/K65YR Interview 1252 – Nomi Prins Exposes Government Sachs https://www.corbettreport.com/interview-1252-nomi-prins-exposes-government-sachs/ Government Sachs Gets Golden Wrist Slap For Global Financial Crisis https://www.corbettreport.com/government-sachs-gets-golden-wrist-slap-for-global-financial-crisis/ Episode 315 – Meet Goldman Sachs, the Vampire Squid https://www.corbettreport.com/episode-315-meet-goldman-sachs-the-vampire-squid/ Interview 1249 – Carey Wedler on How Government $ach$ Won The (s)Election https://www.corbettreport.com/interview-1249-carey-wedler-on-how-government-ach-won-the-selection/ Conspiracy Theories | Jigsaw https://jigsaw.google.com/the-current/conspiracy-theories/ There’s a News Black Out on the Strange Doings in the JPMorgan Chase/Jeffrey Epstein Sex Trafficking Case in Manhattan https://wallstreetonparade.com/2023/11/theres-a-news-black-out-on-the-strange-doings-in-the-jpmorgan-chase-jeffrey-epstein-sex-trafficking-case-in-manhattan/ Story #2: Germany to Tighten Immigration Rules https://english.news.cn/20231108/f122ac4c75ea44b4be1f4cdd1a15bf24/c.html Japan Plans to Demonetise Its Elderly https://www.firstpost.com/world/japan-plans-to-demonetise-its-elderly-heres-why-12948862.html Japan Plans to Combat Scams By Taking Elderly People’s Bank Cards Away: “People Are Going To Panic” https://www.scmp.com/week-asia/people/article/3229623/japan-plans-combat-phone-scams-taking-elderlys-bank-cards-away-people-are-going-panic Episode 453 – Don’t Worry! The Border Problem is About to be Solved! https://www.corbettreport.com/borders/ Story #3: NJ Parents File Federal Class Action Lawsuit Challenging State’s Secret Retention Of Newborn Blood For 23 Years https://ij.org/press-release/new-jersey-parents-file-federal-class-action-lawsuit-challenging-states-secret-retention-of-newborn-blood-for-23-years/ Announcing the DNA Control Grid https://www.corbettreport.com/articles/20090227_dna_control.htm Episode 118 – Who Owns Your DNA? https://www.corbettreport.com/episode-118-who-owns-your-dna/ Podcast: Play in new window | Download | Embed Watch on Archive / BitChute / Odysee / Rokfin / Rumble / Download the mp4 Above Phone De-Googled Private Communications: SHOP The ‘New World Next Week’ Store https://newworldnextweek.com/ The Corbett Report Sticker https://newworldnextweek.com/products/the-corbett-report-sticker Media Monarchy Music Compilations (Digital Download) https://newworldnextweek.com/products/media-monarchy-music Become a member of Corbett Report (https://corbettreport.com/members) and Media Monarchy (https://mediamonarchy.com/join) to help support independent media. Those in the US who want to support our work can send cash, check or money order to: Media Monarchy P.O. Box 189 El Rito, NM 87530-0189 Thank You. Source: The Corbett Report Or support us at SubscribeStar Donate cryptocurrency HERE Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened. Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today.
    0 Comments 0 Shares 7630 Views
  • ???????? JUST IN : US ???????? to ban short-selling because of bank crisis says JP Morgan - The Times

    The short selling ban of September 18th, 2008 marked the start of the panic collapse of the stock market.

    #somee
    #bitcoin
    #JPMorgan
    #banking
    ???????? JUST IN : US ???????? to ban short-selling because of bank crisis says JP Morgan - The Times The short selling ban of September 18th, 2008 marked the start of the panic collapse of the stock market. #somee #bitcoin #JPMorgan #banking
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    1
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  • ???? JP Morgan Acquires First Republic Bank Assets

    US banking giant JP Morgan Chase is set to acquire all assets of First Republic Bank (FRC) after the California Department of Financial Protection and Innovation closed the troubled bank.

    ???? With $229.1 billion in assets and $103.9 billion in deposits, JPMorgan will assume all of FRC's assets, including uninsured deposits, and 84 FRC locations across eight states will reopen as JPMorgan Chase Bank branches.

    #somee
    #bitcoin
    #binance
    #crypto
    #bullish
    #bearish
    ???? JP Morgan Acquires First Republic Bank Assets US banking giant JP Morgan Chase is set to acquire all assets of First Republic Bank (FRC) after the California Department of Financial Protection and Innovation closed the troubled bank. ???? With $229.1 billion in assets and $103.9 billion in deposits, JPMorgan will assume all of FRC's assets, including uninsured deposits, and 84 FRC locations across eight states will reopen as JPMorgan Chase Bank branches. #somee #bitcoin #binance #crypto #bullish #bearish
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  • What the Investment Opportunities Mean for Investors: A Look at JPMorgan's Massive Silver Purchase
    https://prioritygold01.blogspot.com/2023/01/what-investment-opportunities-mean-for.html
    What the Investment Opportunities Mean for Investors: A Look at JPMorgan's Massive Silver Purchase https://prioritygold01.blogspot.com/2023/01/what-investment-opportunities-mean-for.html
    PRIORITYGOLD01.BLOGSPOT.COM
    What the Investment Opportunities Mean for Investors: A Look at JPMorgan's Massive Silver Purchase
      JPMorgan Chase & Co. recently made headlines with the news that it has acquired a massive amount of silver in the markets, making it one o...
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  • https://www.naturalnews.com/2023-03-29-jpmorgan-gold-derivative-short-position-larger-assets.html #jpmorgan #cent #somee #vyb #hivelist #sme #bro #ctp
    https://www.naturalnews.com/2023-03-29-jpmorgan-gold-derivative-short-position-larger-assets.html #jpmorgan #cent #somee #vyb #hivelist #sme #bro #ctp
    WWW.NATURALNEWS.COM
    JPMorgan holds massive gold derivative short position that could be larger than the bank's total assets, top money managers warn
    Should the price of gold ever shoot up from its current price by, say, another $1,000 in the coming weeks or months due to an unexpected "black swan" event, banking giant JPMorgan Chase would more than likely find itself underwater due to the massive gold derivative short positions it curr
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  • JPMorgan plans to raise private capital for a Ukrainian investment fund.
    JPMorgan plans to raise private capital for a Ukrainian investment fund.
    WWW.ACTIVISTPOST.COM
    Zelensky Signs Agreement With JPMorgan on Ukraine’s Reconstruction - Activist Post
    JPMorgan, America’s largest bank, discussed with Zelensky the creation of a fund that would start with $20-$30 billion in private capital.
    Like
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  • Major US banks, including Wells Fargo, Bank of America, JPMorgan, and others, will push into the digital wallet space in the second half of this year to take on Apple Pay and PayPal. 
    Major US banks, including Wells Fargo, Bank of America, JPMorgan, and others, will push into the digital wallet space in the second half of this year to take on Apple Pay and PayPal. 
    WWW.ACTIVISTPOST.COM
    Cashless Society: Big Banks Prepare To Launch Digital Wallet To Compete With Apple Pay And PayPal - Activist Post
    Early Warning Services LLC, the bank-owned company that operates the money-transfer service Zelle, will be managing the new digital wallet
    0 Comments 0 Shares 636 Views
  • Bitcoin adoption is taking over major world companies, in comparison to JPMorgan and Bank of America, bitcoin total market capitalization has surpassed both two companies.

    What happens when big tech companies and financial institutions go all into crypto adoption will be massive.

    Image below shows #bitcoin leading both companies by total market cap.

    #awesme #crypto

    [Image source](https://companiesmarketcap.com/banks-vs-crypto/largest-banks-vs-crypto-by-market-cap/)
    Bitcoin adoption is taking over major world companies, in comparison to JPMorgan and Bank of America, bitcoin total market capitalization has surpassed both two companies. What happens when big tech companies and financial institutions go all into crypto adoption will be massive. Image below shows #bitcoin leading both companies by total market cap. #awesme #crypto [Image source](https://companiesmarketcap.com/banks-vs-crypto/largest-banks-vs-crypto-by-market-cap/)
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  • Elon Musk Orchestrates Takedown of the Most Powerful Club in the World
    The World Economic Forum (WEF) is currently being held in Davos, Switzerland.
    By LUC OLINGA JAN 18, 2023 7:29 PM EST

    Elon Musk wants to replay the biblical fight between David and Goliath.

    In this case he is David, the underdog who takes on the huge and giant favorite Goliath played here by the World Economic Forum (WEF).

    As it has for decades, this circle of economic and political elites and personalities from civil society has been meeting since January 16 in the ski resort of Davos in Switzerland. This 2023 edition is particularly eventful because it takes place in a context of multiple crises, between the war in Ukraine, global warming and the persistent Covid-19 pandemic.

    "The world today is at a critical inflection point," the WEF said on its website. "The twin triggers of the Covid-19 pandemic and the war in Ukraine rattled an already brittle global system. Economic growth in the world’s largest economies is stalling, while navigating headwinds from rising food and energy prices."

    'Master the Future'
    To reflect and discuss all these issues, the WEF welcomes 52 heads of state and government and nearly 600 CEOs, including JPMorgan Chase CEO Jamie Dimon and BlackRock CEO Larry Fink.

    But the problem this year is that Davos is more talked about outside the walls where the Forum is held. Elon Musk, the serial and whimsical entrepreneur has taken the lead of the opponents and critics of this powerful club.

    The Techno king, as he is known at Tesla (TSLA) - Get Free Report, wants to use his growing influence to bring down Davos, condemned by both left and right. He seems to have joined the ranks of the anti-globalists, on the extreme left and extreme right, who in recent years have redoubled their opposition to the forum. They consider it an assembly of elites disconnected from the reality of the world.

    After having declined the invitation of the organizers, he multiplies the attacks against the WEF. He first called the Forum "boring" and then wondered if it was the ideal setting to discuss cooperation between the public and private sectors.

    "I guess there’s value to having a mixed government & commercial forum of some kind," the billionaire said. "WEF does kinda give me the willies though, but I’m sure everything is fine," said on January 15.

    He then ridiculed founder Klaus Schwab's call asking participants to "master the future" in the face of the challenges currently facing the world, a message delivered during his welcome speech.

    "'Master the Future' doesn’t sound ominous at all," the billionaire said sarcastically. "How is WEF/Davos even a thing? Are they trying to be the boss of Earth!?" Musk lambasted on January 17.

    'Unelected' Government People 'Don't Want'

    These criticisms seem to be part of a well-orchestrated strategy by the billionaire to dismantle an icon. Musk has just moved up a gear. He now denounces the WEF and goes so far as to compare it to a sort of unelected and unpopular government.

    "WEF is increasingly becoming an unelected world government that the people never asked for and don’t want," the tech tycoon blasted on January 18.

    Aware that this charge against the WEF will resonate with his more than 126.3 million followers on the social network, he immediately organized a poll whose tendentious question should lead to a broad rejection of Davos.

    "The World Economic Forum should control the world," Musk asked.

    Voters have only two options: YES or NO.

    More than 1.5 million Twitter users had already voted at the time of this writing. Twitter users have until January 19 to vote. The NO was well ahead with more than 86% of the votes cast.

    Musk is not saying what he intends to do with the results of this poll. The SpaceX founder regularly solicits the opinion of Twitter users on important issues such as stepping down as CEO of the social network. He has often pledged to respect the results of these polls.

    The WEF did not immediately respond to a request for comment.

    Davos has been attracting criticism for many years, but it has only increased of late. Musk may be the spokesperson who can bring about change.

    Although the WEF sees itself as an important forum for addressing the acute problems facing the planet, critics question the solutions the Forum has offered.

    "The World Economic Forum meeting in Davos has become largely irrelevant, little more than an exercise in self-congratulation for the world’s elites to convince themselves that they’re making a difference," blasted Patriotic Millionaires, an association of rich individuals fighting for "equal political representation, a livable minimum wage and a fair tax system."

    Equally scathing criticism of the WEF comes from Greenpeace, which denounces the Forum's so-called fights for the environment.

    https://www.thestreet.com/technology/elon-musk-orchestrates-takedown-of-the-most-powerful-club-in-the-world
    Elon Musk Orchestrates Takedown of the Most Powerful Club in the World The World Economic Forum (WEF) is currently being held in Davos, Switzerland. By LUC OLINGA JAN 18, 2023 7:29 PM EST Elon Musk wants to replay the biblical fight between David and Goliath. In this case he is David, the underdog who takes on the huge and giant favorite Goliath played here by the World Economic Forum (WEF). As it has for decades, this circle of economic and political elites and personalities from civil society has been meeting since January 16 in the ski resort of Davos in Switzerland. This 2023 edition is particularly eventful because it takes place in a context of multiple crises, between the war in Ukraine, global warming and the persistent Covid-19 pandemic. "The world today is at a critical inflection point," the WEF said on its website. "The twin triggers of the Covid-19 pandemic and the war in Ukraine rattled an already brittle global system. Economic growth in the world’s largest economies is stalling, while navigating headwinds from rising food and energy prices." 'Master the Future' To reflect and discuss all these issues, the WEF welcomes 52 heads of state and government and nearly 600 CEOs, including JPMorgan Chase CEO Jamie Dimon and BlackRock CEO Larry Fink. But the problem this year is that Davos is more talked about outside the walls where the Forum is held. Elon Musk, the serial and whimsical entrepreneur has taken the lead of the opponents and critics of this powerful club. The Techno king, as he is known at Tesla (TSLA) - Get Free Report, wants to use his growing influence to bring down Davos, condemned by both left and right. He seems to have joined the ranks of the anti-globalists, on the extreme left and extreme right, who in recent years have redoubled their opposition to the forum. They consider it an assembly of elites disconnected from the reality of the world. After having declined the invitation of the organizers, he multiplies the attacks against the WEF. He first called the Forum "boring" and then wondered if it was the ideal setting to discuss cooperation between the public and private sectors. "I guess there’s value to having a mixed government & commercial forum of some kind," the billionaire said. "WEF does kinda give me the willies though, but I’m sure everything is fine," said on January 15. He then ridiculed founder Klaus Schwab's call asking participants to "master the future" in the face of the challenges currently facing the world, a message delivered during his welcome speech. "'Master the Future' doesn’t sound ominous at all," the billionaire said sarcastically. "How is WEF/Davos even a thing? Are they trying to be the boss of Earth!?" Musk lambasted on January 17. 'Unelected' Government People 'Don't Want' These criticisms seem to be part of a well-orchestrated strategy by the billionaire to dismantle an icon. Musk has just moved up a gear. He now denounces the WEF and goes so far as to compare it to a sort of unelected and unpopular government. "WEF is increasingly becoming an unelected world government that the people never asked for and don’t want," the tech tycoon blasted on January 18. Aware that this charge against the WEF will resonate with his more than 126.3 million followers on the social network, he immediately organized a poll whose tendentious question should lead to a broad rejection of Davos. "The World Economic Forum should control the world," Musk asked. Voters have only two options: YES or NO. More than 1.5 million Twitter users had already voted at the time of this writing. Twitter users have until January 19 to vote. The NO was well ahead with more than 86% of the votes cast. Musk is not saying what he intends to do with the results of this poll. The SpaceX founder regularly solicits the opinion of Twitter users on important issues such as stepping down as CEO of the social network. He has often pledged to respect the results of these polls. The WEF did not immediately respond to a request for comment. Davos has been attracting criticism for many years, but it has only increased of late. Musk may be the spokesperson who can bring about change. Although the WEF sees itself as an important forum for addressing the acute problems facing the planet, critics question the solutions the Forum has offered. "The World Economic Forum meeting in Davos has become largely irrelevant, little more than an exercise in self-congratulation for the world’s elites to convince themselves that they’re making a difference," blasted Patriotic Millionaires, an association of rich individuals fighting for "equal political representation, a livable minimum wage and a fair tax system." Equally scathing criticism of the WEF comes from Greenpeace, which denounces the Forum's so-called fights for the environment. https://www.thestreet.com/technology/elon-musk-orchestrates-takedown-of-the-most-powerful-club-in-the-world
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  • 6% Rates Incoming? Gundlach Spars With Dimon 24 Hours Before Crucial CPI Print


    Stocks rallied kind of hard, but not really hard yesterday. The Dow added 189 pts or 0.6%, the S&P gained 28 or 0.7%, the Nasdaq advanced by 106 pts or 1%, the Russell added 27 pts or 1.5% while the Transports tacked on 37 pts or 0.3%.

    And it’s the “Fed will cave” story all over again. Bloomberg summed up the day best with the headline: “Stocks Bounce Back with Brewing Optimism Over CPI (https://ca.finance.yahoo.com/news/asia-stocks-set-tepid-opening-230147384.html)”. Meanwhile, two of the biggest names on Wall Street are at odds with one another over where the Federal Reserve is going to head from here.

    After all, brewing optimism is all the smart logic algos needed. Traders and algos raised the temperature in the room yesterday, betting that the forthcoming CPI report will not only weaken, but weaken beyond what the very optimistic estimates already are - thus ‘building a case’ for the Fed to stop the madness and pause further rate hikes beyond March.

    At the end of the day, Doubleline’s CEO Jeffrey Gundlach stood up and said: ‘Don’t be ridiculous, the Fed? Investors need to pay 100% attention to what the bond market is saying rather than what the FED is telling you they are saying.’ In fact, he said it this way: “My 40 plus years of experience in finance strongly recommends that investors should look at what the market says over what the Fed says.”

    This echoes the comments Gundlach (https://twitter.com/TruthGundlach) made on Twitter last week when he said: “There is no way the Fed is going to 5%. The Fed is not in control, the bond market is in control.”

    Meanwhile Yahoo Finance reported yesterday that Wallstreet heavyweight,CEO of JP Morgan, "Jamie Dimon Says Fed 'May Very Well' Raise Interest Rates to 6%"

    (https://finance.yahoo.com/news/jamie-dimon-says-fed-may-very-well-raise-interest-rates-to-6-195147027.html)"Jamie Dimon expects the Federal Reserve will raise interest rates higher than most officials and Wall Street strategists have forecast as the U.S. central bank continues its fight against persistent inflation.

    The chief executive officer of JPMorgan (JPM), the largest consumer bank in the U.S. by assets, said Tuesday in an interview with Fox Business Network that the Fed’s terminal rate may hit 6%, a level notably above the 5% many have called for.

    'Whether 5% interest rates are enough to slow inflation to where it needs to be, I don’t know,' Dimon said during the discussion at JPMorgan’s annual health-care investment-banking conference in San Francisco, citing fiscal stimulus that was 'so large and still largely unspent.'

    'Is it 5%? My view is, it may very well be 6%,' he added.

    This time last year, Dimon was among the first voices on Wall Street to predict – correctly – that Federal Reserve officials would deliver as many as six or seven increases to their benchmark policy rate as prices rose at a historic pace. He said the three or four hikes investors were bracing for at the time were a low estimate.

    In 2022, the U.S. central bank lifted rates seven times to a cumulative increase of 4.25% to the highest in 15 years from near-zero levels. At least 75 basis points more of hikes are expected this year."

    :link:Source: Zerohedge (https://www.zerohedge.com/news/2023-01-11/6-rates-incoming),
    Quoth The Raven (https://quoththeraven.substack.com/p/6-rates-incoming-gundlach-spars-with),
    Yahoo Finance (https://finance.yahoo.com/news/jamie-dimon-says-fed-may-very-well-raise-interest-rates-to-6-195147027.html),
    Bloomberg (https://ca.finance.yahoo.com/news/asia-stocks-set-tepid-opening-230147384.html)

    ???? Follow:
    t.me/g3news
    6% Rates Incoming? Gundlach Spars With Dimon 24 Hours Before Crucial CPI Print Stocks rallied kind of hard, but not really hard yesterday. The Dow added 189 pts or 0.6%, the S&P gained 28 or 0.7%, the Nasdaq advanced by 106 pts or 1%, the Russell added 27 pts or 1.5% while the Transports tacked on 37 pts or 0.3%. And it’s the “Fed will cave” story all over again. Bloomberg summed up the day best with the headline: “Stocks Bounce Back with Brewing Optimism Over CPI (https://ca.finance.yahoo.com/news/asia-stocks-set-tepid-opening-230147384.html)”. Meanwhile, two of the biggest names on Wall Street are at odds with one another over where the Federal Reserve is going to head from here. After all, brewing optimism is all the smart logic algos needed. Traders and algos raised the temperature in the room yesterday, betting that the forthcoming CPI report will not only weaken, but weaken beyond what the very optimistic estimates already are - thus ‘building a case’ for the Fed to stop the madness and pause further rate hikes beyond March. At the end of the day, Doubleline’s CEO Jeffrey Gundlach stood up and said: ‘Don’t be ridiculous, the Fed? Investors need to pay 100% attention to what the bond market is saying rather than what the FED is telling you they are saying.’ In fact, he said it this way: “My 40 plus years of experience in finance strongly recommends that investors should look at what the market says over what the Fed says.” This echoes the comments Gundlach (https://twitter.com/TruthGundlach) made on Twitter last week when he said: “There is no way the Fed is going to 5%. The Fed is not in control, the bond market is in control.” Meanwhile Yahoo Finance reported yesterday that Wallstreet heavyweight,CEO of JP Morgan, "Jamie Dimon Says Fed 'May Very Well' Raise Interest Rates to 6%" (https://finance.yahoo.com/news/jamie-dimon-says-fed-may-very-well-raise-interest-rates-to-6-195147027.html)"Jamie Dimon expects the Federal Reserve will raise interest rates higher than most officials and Wall Street strategists have forecast as the U.S. central bank continues its fight against persistent inflation. The chief executive officer of JPMorgan (JPM), the largest consumer bank in the U.S. by assets, said Tuesday in an interview with Fox Business Network that the Fed’s terminal rate may hit 6%, a level notably above the 5% many have called for. 'Whether 5% interest rates are enough to slow inflation to where it needs to be, I don’t know,' Dimon said during the discussion at JPMorgan’s annual health-care investment-banking conference in San Francisco, citing fiscal stimulus that was 'so large and still largely unspent.' 'Is it 5%? My view is, it may very well be 6%,' he added. This time last year, Dimon was among the first voices on Wall Street to predict – correctly – that Federal Reserve officials would deliver as many as six or seven increases to their benchmark policy rate as prices rose at a historic pace. He said the three or four hikes investors were bracing for at the time were a low estimate. In 2022, the U.S. central bank lifted rates seven times to a cumulative increase of 4.25% to the highest in 15 years from near-zero levels. At least 75 basis points more of hikes are expected this year." :link:Source: Zerohedge (https://www.zerohedge.com/news/2023-01-11/6-rates-incoming), Quoth The Raven (https://quoththeraven.substack.com/p/6-rates-incoming-gundlach-spars-with), Yahoo Finance (https://finance.yahoo.com/news/jamie-dimon-says-fed-may-very-well-raise-interest-rates-to-6-195147027.html), Bloomberg (https://ca.finance.yahoo.com/news/asia-stocks-set-tepid-opening-230147384.html) ???? Follow: t.me/g3news
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  • JPMorgan CEO Jamie Dimon told wealthy clients there's a chance the US is heading into something worse than a recession. He was said to have put the chances of a "harder recession" and of "something worse" at 20 to 30%. Jamie called current risks "storm clouds," an apparent downgrade from his June "hurricane" warning.
    JPMorgan CEO Jamie Dimon told wealthy clients there's a chance the US is heading into something worse than a recession. He was said to have put the chances of a "harder recession" and of "something worse" at 20 to 30%. Jamie called current risks "storm clouds," an apparent downgrade from his June "hurricane" warning.
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