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IPFS News Link • Central Banks/Banking

We Are Witnessing An Avalanche Of Branch Closings As U.S. Banks Desperately Try To Stay Alive

• The Economic Collapse Blog - Michale Snyder

Our banks are the beating heart of our entire economy, and unfortunately they have been doing things the wrong way for a long time.  As a result, the entire system is being greatly shaken.  Loans are starting to go delinquent at a frightening pace, we have seen endless "banking glitches" in recent months, tens of thousands of banking employees have already been laid off, and U.S. banks are sitting on hundreds of billions of dollars of unrealized losses.  Sadly, a lot more chaos is on the way.  As small and mid-size banks fail, they will get gobbled up by the big boys.  Of course the big boys are scrambling to survive too.  In fact, it is being reported that JPMorgan Chase will close a total of 159 local branches by the end of this calendar year…

In 2023, JP Morgan Chase has or will close 159 branch locations across the United States. The banking giant is not alone in its decision to scale back its physical presence as banking moves online; Bank of America, Wells Fargo, and Citi Bank have announced closures at similar scales that will continue into 2024.

1 Comments in Response to

Comment by PureTrust
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If this keeps up, it may ultimately topple the Fed. Are we the little people ready to operate our lives with Bitcoin or barter, or something else, like Tumin? - https://www.youtube.com/watch?v=1ErBAwoWfmA.



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