This is a breaking news alert…
New York Regulators have frozen account deposits at Capital One Bank and Key Bank:
JUST IN: 🇺🇸 NYC freezes deposits at Capital One bank.
— Watcher.Guru (@WatcherGuru) May 25, 2023
JUST IN: New York City freezes deposits at Capital One Bank
— Archangel (@deplora80055754) May 25, 2023
Here’s the best part though…
Do you want to know why?
Fraud at play?
The reason they’ve frozen deposits is because the bank didn’t do enough to “fight discrimination”.
Yes, that’s really the story.
New York City’s banking commission voted to freeze deposits at Capital One Financial Corp. COF, +0.43% and KeyCorp’s KEY, -0.88% KeyBank after the two banks failed to submit required plans showing their efforts to halt discrimination, the city’s comptroller said in a statement on Thursday, alleging that the banks “outright refused to submit required policies.”
The comptroller, Brad Lander, also voted against designating Wells Fargo & Co. WFC, +0.07%, PNC Financial Services Group Inc.’s PNC, -1.05% PNC Bank and International Finance Bank to hold public funds, that statement said.
“Unfortunately, despite several opportunities to do so, five banks failed to comply with the New York City Banking Commission’s designation process – leaving us to conclude that they are not taking meaningful actions to combat discrimination in their operations and are not responsible stewards of public dollars,” Lander said.
All three members of the banking commission — which include the comptroller, mayor and finance commissioner — voted to take the action against Capital One and KeyCorp, which respectively held $7.2 million and $10 million in city deposits at the end of last month.
Both can service existing contracts for one year under the move.
The commission in February said that banks had to “submit to demonstrate a meaningful commitment to combat discrimination in employment, services, and lending,” the statement said. Shares of Capital One slipped 0.7% after hours, while Key was 0.3% lower.
Folks, two takeaways here:
One, New York City is lawless and out of control. Tyrannical.
Two, you think your money is safe in U.S. Dollars?
Think it’s safe in a bank?
I’ve been warning you for a long time.
You might want to get some GOLD pronto….
(More on that in a minute.)
Because the risks are mounting up.
If it’s not a Bank Failure, then the Regulators may just come in and freeze things!
Does that sound right to you?
Here’s what I warned you about just two weeks ago:
New Report Confirms: US Government May Freeze American Bank Withdrawals
Noah here and I’m going to keep shouting these warning from the rooftop until everyone hears them.
Like a watchman on the wall.
Because it’s very possible your money may not be safe.
Where’s the safest place to put your money?
For decades, we were raised and taught the answer to that question was “in a bank”.
And for decades that answer was correct.
But what if one day the bank just says — sorry! It’s not your money anymore! — and refuses to let you take it out?
That’s not just random speculation by me, many experts are warning that’s coming.
In fact, it already has a name: “bail-ins”.
Check this out:
U.S. may freeze bank withdrawals as currency fear rises, expert warns https://t.co/HeIqYBJIGK
— IN (@Ianbins) May 14, 2023
And from Stew Peters:
ALERT: US Government May Freeze American Bank Withdrawals As Currency Panic and Capital Flight Mounts – Hedge Fund Manager Hugh Hendry
This will be catastrophic. pic.twitter.com/IPjWj4SzX6
— Stew Peters (@realstewpeters) May 8, 2023
Here’s more, from The Daily HODL:
In a new interview on Bloomberg Markets, Hendry says mass panic and capital flight away from the US banking sector is entirely justified.Hendry says a further decline in the M2 money supply, which in part tracks money in liquid checking accounts, could convince the US government to step in and prevent citizens from taking their capital out of the banking system.
“Sometimes it’s kind of relevant to panic. I would recommend you panic… You’ve seen the biggest waterfall decline in M2 right now. M2 is deposits, not loans. That’s the deposits fleeing the system and going into money market funds.
That could reach a crescendo where the Treasury and the Fed may have to come in and actually restrict your right as a US citizen to pull money out of the US banking sector.”
Hendry says capital flight from US banks is not solely about fears on whether the FDIC will insure deposits above $250,000, and a blanket guarantee on deposits would not solve the problem.
“There is capital flight, deposit flight from the banking sector seeking yield. I fear that, I don’t say this lightly, but in 1934 the Federal Reserve Act confiscated gold from US citizens.
We’re at the point where the Fed and Treasury officials I’m sure are having to consider a gate a lock on US bank deposits.”
You can watch that full video here:
But it’s not just these people warning you…
How about President Trump himself?
"Our currency is crashing and will soon no longer be the world standard…If you took the five worst Presidents in the history of the United States and added them up they would not have the amount of destruction Joe Biden has done…
These radical left lunatics want to… pic.twitter.com/X20GSBoF1c
— DailyNoah.com (@DailyNoahNews) April 5, 2023
Gold Is About To Become “Unobtainium”?
In the history of the world, it usually hasn’t been a bad idea to secure some of your assets in “God’s money” a/k/a Gold.
And boy do I have a big update for you on that.
Here are two of the best, Steve Quayle and Greg Hunter.
I always love listening to these two chat, even though they got a little chippy at the end, with Quayle chipping back “Did you not just hear me?”
That’s ok, stress and tensions running high.
But there was a LOT in this one and I will try to summarize a couple main points.
First, Quayle points out that China has been absolutely DUMPING U.S. Treasuries in recent months, and then accelerating the sales this week.
According to Quayle, they dumped so much this week they sold them for 15 cents on the dollar just to get out.
As Bo Polny keeps warning us, a failure of the U.S. Dollar (USD) $ is coming and this is how you get a failure.
When the second largest holder of U.S. Treasuries rage quits the market and dumps them at fire sale.
Take a look at this:
China cuts US Treasury holdings to lowest level since global financial crisis. And the sales are accelerating.
At the same time China is increasing its gold reserves. #gold pic.twitter.com/5JwJSkfRJg
— Wall Street Silver (@WallStreetSilv) March 25, 2023
Ok, so to everyone who just tuned out when I started talking about Treasuries, let me explain to you why this matters.
DISCLAIMER: no, I am not a Financial Advisor and I’m definitely not YOUR Financial Advisor. But I am a reporter and I report it like I see it. Fair and honest.
Because the US Dollar is likely going down hard….
But that also means Gold is likely about to Moonshot.
Check this out:
Gold's new 8-Year Cycle looks to be confirmed now.
Leaving behind one hell of a sexy looking chart.
The narrative for a big bull market is certainly there. pic.twitter.com/PFv4TJ5KVS
— Bob Loukas (@BobLoukas) March 25, 2023
I think you should get out of the banking system now. Shift your deposits into Gold, Silver or Crypto. You can't trust your Bank or the Govt. When the derivatives bubble pops no Govt will be able to print enough money to guarantee all deposits without causing hyperinflation.
— Kim Dotcom (@KimDotcom) March 25, 2023
The Hierarchy Of Money And The Case For $8,000 Gold https://t.co/52Ci27pQxZ
— zerohedge (@zerohedge) March 24, 2023
As for that last one, that would be going from $2,000/oz to $8,000/oz.
We call that a 4x move, or a 400% gain.
You can watch the full interview here on Rumble:
If you already have gold, that’s great!
For everyone else….keep reading:
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Central bankers aren’t slowing down. In fact, nations like China and even U.S. states like Tennessee are quickly but quietly buying up gold to back their own treasuries. When the writing on the wall is this clear, it’s understandable why these governments are moving quickly to get ahead of any potential economic catastrophes in store.
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Don’t wait too long, we might have more bank failures right around the corner.
You know what has NEVER “failed”?
Gold. Precious metals. Indestructible.
There’s a reason they call it “God’s money”.
Watch this for more:
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