Bank Failures - A Push For CBDC?
Submitted by Dave Hodges on Friday, May 5, 2023 - 23:22.
Zero Hedge
Authored by Martin Armstrong via ArmstrongEconomics.com,
Monday saw the largest banking failure in the US since 2008 after First Republic went under, marking the third death of a US bank this year. Regulators took possession of the bank this Monday and JPMorgan Chase will acquire the majority of the bank's assets and remaining deposits worth around $92 billion. First Republic Bank's stock fell nearly 50% after reporting a significant drop in deposits in the first quarter of 2023.