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BREAKING NEW BANK FAILURE: Republic First Bank Collapses, Seized By Regulators

I wish I wasn’t right about this, but I’ve been warning you….

The Bank Failures of 2023 are not over.

I told you that over and over, and sadly I’ve just been proven right.

Republic First Bank has failed and been taken over by regulators.

Folks, this is just the start.

And what do I also always tell you?

They love to do this late on a Friday or over the weekend, and they just did that again here.

Exactly like I told you would happen!

Late Friday, markets closed, nothing you can do about it and they drop the hammer.

CNN has more details:

The Federal Deposit Insurance Corporation on Friday said that Republic First Bank has been closed by Pennsylvania state regulators, in what the FDIC said was the first US bank failure this year.

“Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank, National Association of Lancaster, Pennsylvania to assume substantially all of the deposits and purchase substantially all of the assets of Republic Bank,” the FDIC said in a statement.

The bank had about $6 billion in total assets and $4 billion in total deposits at the end of January, the FDIC said in its release.

That makes Republic Bank (FRBK) far smaller than the regional bank failures that rocked the financial world last year. Silicon Valley Bank, for example, had about $209 billion at the end of 2022; it collapsed in March 2023.

The FDIC said the former bank’s “32 branches in New Jersey, Pennsylvania and New York will reopen as branches of Fulton Bank on Saturday (for branches with normal Saturday hours) or on Monday during normal business hours.”

Those who have deposits at Republic Bank will become depositors at Fulton Bank, the FDIC said. The agency’s deposit insurance covers up to $250,000 per depositor.

Bloomberg News reported earlier in the week that the FDIC had approached buyers for the regional lender.

The FDIC said that Republic Bank was the first bank to fail in the United States since Citizens Bank in Sac City, Iowa, in November 2023.

Here is the full Press Release from the FDIC:

Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank, National Association of Lancaster, Pennsylvania to assume substantially all of the deposits and purchase substantially all of the assets of Republic Bank.

Republic Bank’s 32 branches in New Jersey, Pennsylvania and New York will reopen as branches of Fulton Bank on Saturday (for branches with normal Saturday hours) or on Monday during normal business hours. This evening and over the weekend, depositors of Republic Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on Republic Bank will continue to be processed and loan customers should continue to make their payments as usual.

Depositors of Republic Bank will become depositors of Fulton Bank so customers do not need to change their banking relationship in order to retain their deposit insurance coverage. Customers of Republic Bank should continue to use their existing branches until they receive notice from Fulton Bank that it has completed systems changes that will allow its branch offices to process their accounts as well.

Customers with questions about Fulton Bank’s acquisition of Republic Bank may call the FDIC toll-free at 1-877-467-0178. The FDIC’s Call Center will be open this evening until 9 p.m. Eastern Time (ET); on Saturday from 9:00 a.m. to 6:00 p.m. ET; on Sunday from noon to 6:00 p.m. ET; on Monday from 8:00 a.m. to 8:00 p.m. ET; and thereafter from 9:00 a.m. to 5:00 p.m. ET. Interested parties may also visit the FDIC’s website.

As of January 31, 2024, Republic Bank had approximately $6 billion in total assets and $4 billion in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) related to the failure of Republic Bank will be $667 million. The FDIC determined that compared to other alternatives, Fulton Bank’s acquisition of Republic Bank is the least costly resolution for the DIF, an insurance fund created by Congress in 1933 and managed by the FDIC to protect the deposits at the nation’s banks. Republic Bank is the first U.S. bank failure this year; the last failure was Citizens Bank, Sac City, Iowa on November 3, 2023.

Folks, there’s a reason I’ve been warning you so much for these past few months.

And now you have VERY little time left.

These things usually go in waves and I expect this will only be the start of the new wave that’s about to hit.

And don’t forget about New York Community Bank.  It recently dropped under $3 and appears it will ultimately fail despite the massive bail outs recently received.  We are watching it closely.

New York Community Bank Plunges 30%, CEO Exits, Losses Hit $2.7 Billion!

Could it be as high as 100 bank failures in this next round?

Grant Cardone says yes.

Read this for more details and be sure to read to the end where I tell you what you can do right now to protect yourself -- including how you can get Gold right now for "no money out of pocket".  Yes, really.  100% true, I explain all below.

Now read on:

Grant Cardone: "There Are Gonna Be 100 Bank Failures In This Country..."

Peter Schiff.

Robert Kiyosaki.

Patrick Bet-David.

Grant Cardone.

What do they all have in common?

I've covered each of them in the past few weeks, and all of them are talking in some form or another about a massive Bank Run / Bank Crash coming to the USA soon and/or recommending Gold and Silver as safe-haven investments -- or both!

The latest is Grant Cardone who caught my attention big time today for saying this recently on Ryan Pineda's podcast:

Backup here if needed:

In case you don't know much about Grant, here is a short bio:

Grant Cardone is a highly influential entrepreneur, author, motivational speaker, real estate mogul, and sales trainer known for his dynamic personality and substantial impact on various industries. Born on March 21, 1958, in Lake Charles, Louisiana, Cardone has built a multifaceted empire that extends across sales training, real estate investments, online education, and social media influence.

Major Accomplishments:

  • Real Estate: Grant Cardone's prowess in real estate is undeniable. He is the founder and CEO of Cardone Capital, a real estate investment firm that has acquired and managed a portfolio worth billions. Cardone Capital is renowned for democratizing investment opportunities in large-scale, institutional-grade real estate projects, making it possible for individual investors to participate alongside him.
  • Sales Training and Education: Cardone has revolutionized sales training through his company, Cardone Training Technologies, Inc., providing innovative sales training programs, workshops, and materials that have been utilized by individuals and corporations worldwide to improve sales processes and outcomes.
  • Authorship: Cardone is a prolific author with several best-selling books to his name, including "The 10X Rule," "Sell or Be Sold," and "If You're Not First, You're Last." His books focus on maximizing potential, sales strategies, and personal development, inspiring millions worldwide.
  • Motivational Speaking and Online Presence: With a magnetic personality and an engaging speaking style, Cardone has become a sought-after motivational speaker. He hosts the annual 10X Growth Conference, one of the largest business and entrepreneurship conferences globally. Furthermore, his strong online presence, with millions of followers across various social media platforms, has made him a key influencer in the realms of business, motivation, and success.
  • Philanthropy: Beyond his business ventures, Cardone is committed to giving back to the community through various philanthropic efforts. He supports several causes and organizations dedicated to children's welfare, education, and disaster relief.

Awards and Recognition:

Over the years, Grant Cardone has received numerous accolades and recognition for his contributions to the business world and his success as an entrepreneur. While specific awards are numerous and span various industries, they reflect his excellence in entrepreneurship, real estate, and motivational speaking.

Estimated Assets Under Management (AUM):

As of my last update in April 2023, Grant Cardone's Cardone Capital managed an estimated assets under management (AUM) worth several billion dollars. This figure is a testament to his expertise in real estate investment and his ability to attract and manage significant capital.

It was just last week that I brought you this from Peter Schiff:

Peter Schiff: "Gold is going to be revalued MUCH higher than it is..."

I've been telling you that you might want to get some GOLD for a while now...

I'm not a financial advisor, I'm just your humble reporter.

But someone who's much smarter than me and is a professional money manager just said something that you have to see.

That would be Peter Schiff and he just said on MeetKevin's podcast that Gold is about to be revalued MUCH higher!

Oh, and Patrick Bet-David loves gold too!

Check this out:

Here is a dedicated video player if this is easier for you to see:

You can watch the entire interview right here if you like:

Two VERY smart guys, Peter Schiff and Patrick Bet-David.

Here's more on Schiff if you don't know much about him:

Peter Schiff is an accomplished American economist, financial broker, author, and stock market commentator with a significant influence in finance and investment circles. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc., a brokerage firm founded in 1996, focused on international markets and securities. He has successfully expanded the firm's operations over the years, demonstrating his acumen in identifying growth opportunities and his expertise in global financial markets.

One of Schiff's major accomplishments is his prescient call on the 2008 financial crisis. He gained widespread recognition for his predictions of the housing market bubble and the ensuing financial crisis, which were made well before they occurred. His accurate forecast of these events earned him a reputation as a savvy investor and a keen observer of economic trends. Schiff's warnings about the dangers of excessive debt and speculative bubbles have been validated by market events, reinforcing his status as a forward-thinking economist.

In addition to his financial career, Peter Schiff is an accomplished author, having written several books on economics and investing. His works, including "Crash Proof: How to Profit From the Coming Economic Collapse," have been critically acclaimed for their insightful analysis and practical advice on safeguarding investments against economic downturns. Schiff's ability to break down complex economic concepts into accessible language has made his books popular among both novice and experienced investors.

Schiff has been a vocal advocate for sound money and fiscal conservatism, often appearing on financial news networks to share his views. His advocacy for gold as a hedge against inflation and currency devaluation has influenced many investors' strategies. Despite his sometimes controversial opinions, Schiff's expertise and deep understanding of economic principles have earned him respect in the investment community.

Speaking of Gold being revalued in the future, we first told you about that three months ago:

“Gold Revaluation” Incoming? Price Could Be $10,000-60,000 Per Ounce!

"Gold Revaluation" Incoming? Price Could Be $10,000-60,000 Per Ounce!

One of the worst things our country ever did was to allow the Central Bankers to take of off the Gold Standard...

But it was the best thing to happen to the corrupt bankers, as they printed money to infinity and got filthy rich!

But....are they getting ready to flip the script on the public once again?

As the system they have completely destroyed through unlimited money printing is set to collapse, I'm seeing reports that they might be ready to go BACK to a Gold Standard.

Crazy right?

I have to show you this short 2 minute video from the Black Swan Capitalist who perfectly nails this.

And then keep reading for a solution YOU can implement right now to keep you and your family safe!  And one way you can do it with NO MONEY OUT OF POCKET!  Yes, really....

He says not only is the plan in place, but simulations have been run and if and when that happens it would result in a necessary gold price of anywhere from $10,000 to $60,000 per ounce!

For those not great at math, from today's price of $1,955 that would be anywhere from a 400% to a 2,900%+ gain!

Wow!

But not only that but there was one line that jumped out at me....

He said, quote:  "Those who put their money in gold and silver will be just fine and make incredible gains, meanwhile those who trusted the Government and kept their money in US Dollars will be utterly wiped out."

That rung very true to me.

When has "trusting the Government" ever paid off?

This is EXACTLY the kind of thing they would do, and revel in it!

It's Ronald Reagan's famous quote:

So with that in mind, watch this clip and understand what might be JUST around the corner....

Backup here if needed:

Ok so how can you get gold with NO MONEY OUT OF POCKET?  Read below...

The ONLY Two Gold Companies I Am Proud To Partner With

We mostly cover politics here, but politics affects the economy and the economy affects...YOU and ME!  And our pocketbooks.

Big league.

So in the midst of covering politics, we also cover money from time to time...and while I'm not a financial advisor, I share what I'm learning in the hopes that it can help you and keep you and your family safe.

And that often leads me to covering Gold and Silver.

You know, what they have always called "God's Money".

He made it, they aren't making any more of it, and it has always been highly valued as money from the beginning of time until now.

So I'm a big fan and I think it has the potential to do big things if, say, the U.S. Dollar were to suddenly collapse.

So that's why I talk about it and why I want to make sure everyone protects themselves and your families.

So to answer the question of "what can I do?" it's really quite simple: you need to get some #Gold or #Silver in your own possession.

It's called "physical" gold and silver.

Not paper traded garbage on the stock exchanges that isn't backed by anything.

Don't touch that stuff.

And because I get asked so much how to buy it and what the best places are, I thought I would publish this and just get it out there for all to have....

I have two special hook-ups for you and these are the ONLY two companies I am proud to partner up with on Gold and Silver.

Both involve PHYSICAL gold and silver.

Because if you do NOTHING else, make sure you own "physical" gold and silver, not paper contracts.

The paper contracts (like stock ticker SLV and GLD) could very well go POOF one day and disappear or go to zero, because they're not actually backed by the gold and silver they claim to represent.

It's a massive game of musical chairs out there and when the music stops (and I think it will stop soon...) people who only own paper might find themselves owning something not worth the paper it's literally written on.

And I know you'll never forget it if I give you this GIF so....Let's Get Physical:

Now...WHERE do you get physical gold and silver and how do you know it's real and safe?

And that you're getting the best price?

Oh, and how about personal one-on-one real customer service?

You know, like you were some Big Wig millionaire at Goldman Sachs who could just call their personal banker and get help?

That's what I'm about to tell you.  

I have two killer connections for you...

The first is for purchasing gold and silver bullion.

That means bulk bars.

That's the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.

The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you'll know you're in the right place.

You'll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.

How about that!

You don't see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:

No sales pitch, just real, actual help.

And the best prices you will find.

Here's the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back.  Just be patient.

Good things come to those who wait!

You can contact Ira and WLT Precious Metals here.

Ok, that was #1.

Now I want to tell you about option #2.

An equally great company, I am so happy to be working with these guys.

This next company is called Genesis Gold and this is for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).

You know what the beauty of that is?

Two huge benefits actually...

First is TAX FREE baby!

I'm not a tax advisor, but that's a general oversimplification.

Never pay more taxes than you are legally required to pay.

And that's why I love getting gold and silver in my IRA (and why I hold a large chunk in an IRA myself!).

Second is if you simply shift money out of stocks (like Peter Schiff recommends) and into Gold, it won't cost you anything!  No money out of pocket!  

BOOM!

There's so much to love about Genesis Gold, starting with the fact they are proudly and un-ashamedly Christina!

They call it "Faith-Driven Stewardship" and they put it right on the homepage of their website along with a quote from Ezekiel:

Wealth Preservation With Gold & Silver –
The Genesis Gold IRA

By your wisdom and your understanding you have made wealth for yourself, and have gathered Gold and Silver into your treasuries – EZEKIEL 28:4

Genesis Gold Group believes the Bible gives clues on how man-made currencies (paper money) represent instability, and a lack of virtue and encourages living wastefully in excess.

Conflicts have beleaguered us since the dawn of civilization, and they can all be encapsulated into one battle. The battle is between currency, man-made paper, and gold and silver — the two precious metals found in our Earth’s crust, sent to us by our Lord to use as money. Man-made currency always leads nations down the path to increased war, greed, and ultimate collapse. History has shown that abandoning gold and silver has always been a bad idea. Gold and Silver enforce discipline, nurture self-constraint, self-reliance, and balance, and lead to confidence, a restrained government, and a more stable foreign policy.

Genesis Gold Group believes in empowering faith-driven stewardship with Gold & Silver are an integral part of a balanced portfolio. Protecting your finances with precious metals has never been more crucial during these trying times.

With a combined 50-plus years in the precious metals industry, let your Genesis gold and silver experts guide you through the simplicity of asset protection and growth with our Genesis Gold IRA.

Sincerely,

Genesis Gold Group

Empowering Faith-Driven Stewardship

Oh....and they're VERY good at what they do.

You also get physical gold and silver with Genesis, believe it or not!  The gold and silver is purchased for you (in whatever combination of coins and bars you prefer, a picture taken and sent to you, and then stored safely in a vault for you!

I love what these guys are doing.

Here's more on why gold and silver in your IRA are so powerful:

You can contact Genesis Gold here.

They are also very backed up with record demand, so you may have to wait a bit, but someone WILL get in touch with you for personal customer service and assistance!

Tell 'em Noah sent ya!

Oh, and did you know Genesis is recommended by SUPERMAN himself?

It's true.

Superman himself, Clark Kent -- Dean Cain -- came on my show a few weeks ago and we broke it all down:

Watch here:

Stay safe!

Make sure you can weather the storm when it hits!

Because the storm always hits eventually, doesn't it?

As for me and my house, we will be ready. 💪

,

 

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