Greg the only thing that bothers me with crypto is you still need the internet to transact . And its still not really backed by anything?? I honestly believe these psychopaths will shut us out of the internet eventually if you dont take their jabs or what ever else they have in store. Its a good concept but I still see junk silver and metals being used and accepted more when this thing goes down and we are all going to be dealing locally . The system may still be up but those who refuse to take "the mark" will not be participating in it so the crypto will be out the window anyway unless we create our own internet ? Just throwing some thoughts out there
Please Greg, don't try to educate the crypto haters. I need them to make me rich. They will be the ones FOMO'ing in at the top, while I am UNLOADING my bags onto them at that same top. I've done it THREE TIMES already. Once with Cardano (ADA). Once with Dogelon Mars (ELON) and once with Shiba Inu (SHIB). Psychology is psychology man. They will come back and do the SAME THING over and over again making me RICHER AND RICHER. 🤑🤑💲I just wish I had discovered crypto trading a long time ago. Eeeeeheheheheheeee 😁😂😃
Digital transformation produces eye - rolling . Many think CBDC is going to be rolled out soon and that the world is going paperless. Others think something is being rolled out to cause less humans. You can’t make this s—t up! Others think the operating system of human civilization has been hacked and another at Google issues a warning and quit their job because of the human danger of AI. It’s not funny and it’s all over Fb newsfeed this evening! 🤔
Greg, the Australian central banksters (RBA) raised rates today to 3.85% (25bps) when the expectation was a third pause at 3.60% ⏸️. XJO futures dropped 1% on the news. Like you, I believe Yellowstain and his band of merry freaks will raise rates this week too!
The closure of First Republic Bank by the FDIC (Federal Deposit Insurance Corporation) triggered a banking crisis comparable to the largest in history. Prior to the collapse of First Republic Bank, Silicon Valley Bank and Signature Bank had already collapsed. First Republic Bank's stock prices fell dramatically in the week leading up to its closure, indicating its precarious position.
The controversial takeover by JP Morgan
JP Morgan's acquisition of First Republic Bank, however, occurred under questionable circumstances. The FDIC held an auction for the bank, with bids due Sunday 4/30-23. Today, Monday the first of May, the acquisition of the entire First Republic Bank by JP Morgan was announced. The decision was made conspicuously quickly, prompting speculation that the FDIC's review of the bids was inadequate.
A possible violation of the Rego-Neo Act.
The Rego-Neo Act was passed in 1993-1994 to prevent bank monopolies and backroom deals in the U.S. banking system. It states that no bank may acquire another bank that would result in controlling more than 10% of total insured deposits in the United States. JP Morgan already owned $2.3 trillion in deposits in the first quarter of this year, which puts it at the 10% mark. Nevertheless, JP Morgan's acquisition of First Republic Bank was approved by the FDIC in about 10 seconds, raising questions about compliance with the Rego-Neo Act.
The exception to the rule
There is an exception in the Rego-Neo Act that states that an acquisition can proceed despite exceeding the 10% limit if it is approved by the appropriate state bank regulators. However, in this case, JP Morgan was allowed to acquire First Republic Bank without proper due diligence.
Conclusion
JP Morgan's acquisition of First Republic Bank raises serious questions about compliance with the law and the FDIC's role in the process. Bank customers and the public, in a reputable system, deserved transparency and education in such a matter. It remains to be seen, however, whether the relevant authorities and regulators will conduct a thorough investigation and resolve possible violations of the Rego-Neo Act. At a time when confidence in the financial system is at stake anyway, it is crucial that the integrity and legality of such transactions, as perceived by the public, are ensured. However, I expect that the stability of the banking system will continue to be undermined by questionable practices and backroom deals.
It’s dangerous to be America enemies but even more dangerous to be her friends I heard that on Scott Ritter podcast
Greg the only thing that bothers me with crypto is you still need the internet to transact . And its still not really backed by anything?? I honestly believe these psychopaths will shut us out of the internet eventually if you dont take their jabs or what ever else they have in store. Its a good concept but I still see junk silver and metals being used and accepted more when this thing goes down and we are all going to be dealing locally . The system may still be up but those who refuse to take "the mark" will not be participating in it so the crypto will be out the window anyway unless we create our own internet ? Just throwing some thoughts out there
Please Greg, don't try to educate the crypto haters. I need them to make me rich. They will be the ones FOMO'ing in at the top, while I am UNLOADING my bags onto them at that same top. I've done it THREE TIMES already. Once with Cardano (ADA). Once with Dogelon Mars (ELON) and once with Shiba Inu (SHIB). Psychology is psychology man. They will come back and do the SAME THING over and over again making me RICHER AND RICHER. 🤑🤑💲I just wish I had discovered crypto trading a long time ago. Eeeeeheheheheheeee 😁😂😃
Coco looks great. That's one beautiful dog. 👍😃
Digital transformation produces eye - rolling . Many think CBDC is going to be rolled out soon and that the world is going paperless. Others think something is being rolled out to cause less humans. You can’t make this s—t up! Others think the operating system of human civilization has been hacked and another at Google issues a warning and quit their job because of the human danger of AI. It’s not funny and it’s all over Fb newsfeed this evening! 🤔
Mexico just made a law to produce LESS silver ! They are the number on producer . Are the silver miners starting to act like OPEC ?
They have known about it all for decades !
TAKE PROFIT > Nasdaq100
entry @ 12,108 / take profit @ 13,236
+ 35.4 %
Greg, the Australian central banksters (RBA) raised rates today to 3.85% (25bps) when the expectation was a third pause at 3.60% ⏸️. XJO futures dropped 1% on the news. Like you, I believe Yellowstain and his band of merry freaks will raise rates this week too!
I have a December VIX call long term and a August SPY put. Wednesday something short term.
https://youtu.be/I5uql9RBSC4
CoCo is sooo sweeet!! Awww he loves you sooo much!! As a kid we had a maltese puppy and he barked at everyone and thing!!!!
STOLEN FROM INTERNET:
"The Collapse of First Republic Bank
The closure of First Republic Bank by the FDIC (Federal Deposit Insurance Corporation) triggered a banking crisis comparable to the largest in history. Prior to the collapse of First Republic Bank, Silicon Valley Bank and Signature Bank had already collapsed. First Republic Bank's stock prices fell dramatically in the week leading up to its closure, indicating its precarious position.
The controversial takeover by JP Morgan
JP Morgan's acquisition of First Republic Bank, however, occurred under questionable circumstances. The FDIC held an auction for the bank, with bids due Sunday 4/30-23. Today, Monday the first of May, the acquisition of the entire First Republic Bank by JP Morgan was announced. The decision was made conspicuously quickly, prompting speculation that the FDIC's review of the bids was inadequate.
A possible violation of the Rego-Neo Act.
The Rego-Neo Act was passed in 1993-1994 to prevent bank monopolies and backroom deals in the U.S. banking system. It states that no bank may acquire another bank that would result in controlling more than 10% of total insured deposits in the United States. JP Morgan already owned $2.3 trillion in deposits in the first quarter of this year, which puts it at the 10% mark. Nevertheless, JP Morgan's acquisition of First Republic Bank was approved by the FDIC in about 10 seconds, raising questions about compliance with the Rego-Neo Act.
The exception to the rule
There is an exception in the Rego-Neo Act that states that an acquisition can proceed despite exceeding the 10% limit if it is approved by the appropriate state bank regulators. However, in this case, JP Morgan was allowed to acquire First Republic Bank without proper due diligence.
Conclusion
JP Morgan's acquisition of First Republic Bank raises serious questions about compliance with the law and the FDIC's role in the process. Bank customers and the public, in a reputable system, deserved transparency and education in such a matter. It remains to be seen, however, whether the relevant authorities and regulators will conduct a thorough investigation and resolve possible violations of the Rego-Neo Act. At a time when confidence in the financial system is at stake anyway, it is crucial that the integrity and legality of such transactions, as perceived by the public, are ensured. However, I expect that the stability of the banking system will continue to be undermined by questionable practices and backroom deals.
And remember; it is all part of the "big show"!"
Thanks, Greg
You call it like you see it.
So love you Greg!!!