Bank of America could collapse in 2024; Net income dived 50% to $3.1 billion compared to $7.1 billion in 2022.
(www.msn.com)
💥 FUTURE BANK COLLAPSE
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I brought it up to my parents before, since they have an account there, and I was afraid they'd lose all their savings.
They said "What savings?"
Fuck Joe Biden.
They are basically just tossing derivatives back and forth to appear solvent
By the list I have of banks holding derivitives, BoA has over $23 TRILLION-Iask again, just what the heck are derivitives that are so huge a number???
Could? It's a given,at this point.
Either 2024 or 25.
Bank of America was a big winner from the Silicon Valley Bank collapse raking in $15 Billion in deposits in 2023. That doesn't look like they are about to collapse.
I havent been keeping an eye on it but last i heard they were short 800 million ounces of silver. I dont know if thats still the case.
https://stevenjsands.com/short-silver-position/
That is $28 billion worth of silver at a generous rate of $35 per ounce.
Spot price of silver today at jmbullion is 23.39 so it would be 25-26ish dollars to put a physical ounce in your hand today.
Interesting that this is from Establishment-R-Us MSN.COM.
They will turn on each other. The others won’t get their bail out until someone convincing fails… so they need to throw someone big under the bus.
The plan this time is a bail IN, not a bail out. The banks will be made whole by taking DEPOSITOR'S money, not by getting hand-outs from the FED.
https://www.qwant.com/?q=bail-in
EDIT:
https://fortune.com/recommends/banking/what-is-a-bail-in/
This is the same bank which turned over their customer information for those who were in the D.C. area on Jan 6th, right?
Sucks to be them. I hope that you all have moved your money around accordingly if you have accounts with them.
I have a lot debt parked there at a very low interest rate. I aprked it there for two reasons: 1) low rate, so I can chip away at it, and 2) when boa implodes then I can walk away. And I don't feel bad about it. It will be my personal bailout.
Because the people that run it are in on it, squandering all the cash. 100%
Who isn't squandering the cash?
Bankers pay themselves first pede. ALOT. from small local banks, to large. Live like kings.
Virtually every executive is living large. Look at Trump Tower in New York which is almost solid gold. But the tower is primarily offices while the Trumps lived in what amounts to be a lavish penthouse. Most executives live in mansions similar to what you see Mr. Burns own on The Simpsons.
They still made A huge net income. Businesses don’t usually collapse when they are making money, only when they are losing it.
I was on unemployment in CA until recently. Benefits were paid to a debit card account issues by BofA. Got a letter they were switching to a new provider. I think the target date is March.
Get woke, go broke.