FDIC Press Conference Wednesday 10:30 am for Q1 2023

There is a press conference scheduled by the FDIC for May 31, at 10:30 am.

I'm sure they are addressing the Q1 2023 report that was never filed, showing the actual FDIC reserves.

I have a feeling this is not going to go well. If the Fed needs a "crisis" to usher in CBDC, this could be it. If the FDIC shows it's actually broke, there could be bank runs all over the US.



Starting a New Thread ?... Look Here First.

I would think those in the know would have already electronically transferred their dollars into a foreign bank account. Many in Congress have dual Passports. ( is that true )

I know if I had money, I'd withdraw as much cash as I could, but I would never leave it in a safe deposit box at the bank.

Remember MIM's said something big will happen in May. Got one more day left this month.

a reply to: KSDakar01

They were able to cook the books thanks to JP Morgan, I firmly believe that, with the collapse of SVB, Signature, and First Republic banks, we would be in deep # if they had reported their losses in having to insure the three.
JP MORGAN to Pay FDIC

Thankfully (thats sarcasm) J.P. Morgan stepped up to the plate to absorb some of the costs, but regardless we are in deep # anyway.
Though I don't think the FED will capitalize on any failure of the FDIC (they will still need public confidence to push CBDC), They are both "federal" (more sarcasm) by nature.
If anything, like the stock market, banks would be shut down and depositors left holding the bag before any "collapse" were to occur. just like 08'
and it is just like 08, only this time the SEC and FED changed the rules ahead of time and allowed JPM to exceed the federal limit of depository holdings. Most of those holdings are mortgages, or in other words DEBT.
Watch the FED debt swaps and the next interest rate announcement on June 14th and keep an eye on JPM with an over leveraged real estate debt.
The good thing is JPM probably doesn't want people to default on their new debt so they would be against any planned market turmoil

IF they do come out with a bad report, my puts will print, im short JPM, if only because Jamie Dimon is whiny douchflute

a reply to: datguy

Live now


Currently JPM is down 2%
Wells Fargo down 3.5%
all bank common stocks are red today

you think they would get somebody that can talk regular instead of jibberish

this guy all bs