Editor’s Note: Since the “red tsunami” didn’t materialize last November, we’ve seen central banks, states, and even entire nations quietly but rapidly buying up as much gold as they can. This is one of the reasons we’ve been strongly recommending Americans protect their life’s savings by working with an America First precious metals company. With Tucker Carlson, Glenn Beck, and other conservative show hosts now echoing the sentiment, it’s time to consider making the move. This article by Michael Snyder solidifies my view…
When it rains, it pours. On the exact same day that we witnessed the second largest bank failure in U.S. history, Wells Fargo experienced an unprecedented nationwide computer glitch that caused countless numbers of account holders to have “incorrect balances” and “missing transactions”.
This is yet another example that demonstrates why it is never wise to put all of your eggs into one basket. If you have all of your money in just one bank, you may wake up one day and find that you are suddenly not able to access any of it. For years I have been telling my readers to spread their assets around, because our banking system is far more vulnerable than most people realize.
In particular, I have never been a fan of Wells Fargo.
It has been embroiled in controversy for years, and now this massive “computer glitch” has happened…
A nationwide computer glitch at Wells Fargo left irate customers with incorrect balances and missing transactions Friday morning, sometimes dipping accounts into negative balances.
Funds remain available, even though some customers’ direct deposit transactions were not showing on their accounts, bank spokesman Josh Dunn said.
Dunn did not say how many customers were impacted by the problem and did not provide a time when customers can expect the issue to be resolved. But he said Wells Fargo was “working quickly on a resolution.” As of 4:30 p.m. Friday, Dunn could not say when the problem would be resolved.
The number one thing that you should want from any bank is security.
And right now Wells Fargo seems to be severely lacking in this area.
When users tried to log into their online banking apps, they received a very alarming message…
It’s not clear what might be causing the direct deposit issue or when it might be resolved, but Wells Fargo posted a message at the top of its online banking app saying: “If you see incorrect balances or missing transactions, this may be due to a technical issue and we apologize.”
Needless to say, a lot of account holders were not pleased.
Wells Fargo is further proof to keep cash on hand for use. In the blink of an eye, a computer glitch or whatever, your funds are inaccessible.
— Sam (@SDWilliby) March 10, 2023
i do not like to feel massive panic immediately upon waking but wells fargo decided to give me that gift this morning
— Katy Barber (@katy__kakes) March 10, 2023
I woke up to overdraft protection emails. @WellsFargo better have a good explanation because I had a paycheck yesterday
— 햇빛 ☀️ ?? (@_hasesuns) March 10, 2023
Wells Fargo has me like this at 9am on payday. I will definitely be closing my accounts. #WellsFargo pic.twitter.com/qFGVpaWyFY
— ? (@kingtravvv) March 10, 2023
Of course those that have their money in Silicon Valley Bank are in much worse shape.
Rumors had caused a huge run on the bank in recent days, and regulators moved very quickly on Friday to permanently shut it down…
The Federal Deposit Insurance Corporation (FDIC) says it has seized control of Silicon Valley Bank (SVB), confirming the lender was shut down by California regulators amid a run on the bank.
The FDIC said in a press release that SVB was closed on Friday by the California Department of Financial Protection and Innovation, which in turn appointed FDIC as the receiver of all insured deposits of the bank.
Those that have less than $250,000 deposited with SVB will be covered by FDIC insurance.
But as I detailed in an article that I posted earlier today, the vast majority of the funds deposited with SVB are not covered by FDIC insurance.
Some depositors are literally in danger of losing millions of dollars, and that should deeply alarm all of us.
Meanwhile, there are now rumors that another major bank on the west coast may be in jeopardy…
Concerns have quickly shifted to other banks that might be in trouble. First Republic, another West Coast-based bank whose shares are down more than 30% since Wednesday, tried to reassure investors. In an unusual statement midday Friday, it said tech companies only account for 4% of its deposits and that less than 15% of its total assets are invested in securities like bonds.
Is this the start of a new financial crisis?
Some experts that were interviewed by CNN claim that this is not the case…
Mike Mayo, senior bank analyst at Wells Fargo, said the crisis at SVB might be “an idiosyncratic situation.”
“This is night and day versus the global financial crisis from 15 years ago,” he told CNN’s Julia Chatterley Friday. Back then, he said, “banks were taking excessive risks, and people thought everything was fine. Now everyone’s concerned, but underneath the surface the banks are more resilient than they’ve been in a generation.”
Similarly, former US Treasury Secretary Larry Summers told Bloomberg News Friday that he saw “no systemic risk” if the situation “is handled reasonably,” adding he had “every reason to think that it will be.”
You can believe them if you want.
But as I explained earlier today, SVB got into trouble because they were sitting on mountains of Treasury bills that rapidly lost value once the Fed started aggressively hiking interest rates.
Unfortunately, there are lots of other banks that are in the exact same position.
The financial day of reckoning that I have been warning about for a very long time appears to be rapidly approaching, and most Americans are not prepared for it at all.
If you have all of your money in a single institution, or if you have more than $250,000 in a single bank, I would encourage you to consider taking action while you still can.
Things are starting to get really crazy out there, and you don’t want to find yourself exposed when the music stops playing.
***It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com. In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible.
I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.
I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to invite Jesus Christ to be your Lord and Savior today.
Article cross-posted from End of the American Dream.
Bypass Big Tech Censors
Two Storms, One Harvest
Every food crisis in living memory has been a one-shock event. The 2008 price spike was a commodity bubble. The 2020 shortages were a logistics failure. The 2022 grain scare was a war on one exporter’s ports. Each time, the system bent, adjusted, and recovered, and each time the experts assured us afterward that global markets are simply too big and too diversified to fail.
What nobody in Washington seems eager to discuss is that 2026 is shaping up to be something the modern food system has never actually faced. Two independent shocks, one climatic and one geopolitical, are converging on the same harvest cycle at the same time. Not sequentially. Simultaneously.
Start with the weather. The Pacific Ocean is currently building toward what forecasters now openly call a record event. NOAA’s Climate Prediction Center puts the odds of at least a strong El Niño near 88 percent, with roughly two in three odds it reaches “very strong” status, the tier reserved for perhaps three or four events in the entire satellite era. Every major global model now projects a median peak in Super El Niño territory, and most of them project it exceeding the 2015-16 event, which until now held the modern record. Sea surface anomalies were already brushing the super threshold in mid-July, months before these events normally peak. The atmosphere has already shifted into El Niño mode, and the event is forecast to crest in late fall and early winter.
This is not about “climate change.” It’s about the standard cycles of weather, and the cycle we’re currently in is one that has likely devastated societies in the past. We’re better prepared as a society today, but not all Americans are equally prepared.
Serious households have started doing the quiet math on their own. Grocery bills tell part of the story, and the forecast maps tell the rest, which is why long-term food storage has moved from fringe hobby to mainstream line item in the family budget, with established suppliers like Heaven’s Harvest seeing demand from people who five years ago would have rolled their eyes at the idea. That instinct is not paranoia. It is pattern recognition, and the pattern is worth walking through carefully.
Editor’s Note: Heaven’s Harvest IS a sponsor, but the warnings of this article are real and would be written even if we didn’t have a survival food sponsor. With that said, those who take advantage of what they offer can use promo code “Patriot” for 15% off.
The Fertilizer Clock Is Already Running
While the Pacific warms, the second shock has been unfolding in the Strait of Hormuz. The conflict with Iran turned the world’s most important energy chokepoint into a contested waterway, and the consequences reach far beyond the gas pump. Roughly a third of global fertilizer trade moves through Hormuz, and the disruption sent urea prices up 86 percent year over year by March, with a 53 percent jump in a single month.
The World Bank projects energy prices rising about 24 percent in 2026 and fertilizer about 31 percent. By its own accounting, fertilizer prices ran 35 percent higher in the first five months of this year than the same period last year.
Here is the mechanism the nightly news will not explain. Fertilizer is not a grocery item. It is a time-delayed input. The nitrogen a farmer in Iowa or Punjab could not afford to apply this spring does not show up as a problem this spring. It shows up as a thinner harvest six to twelve months later.
The World Bank’s own food security brief concedes that the effects of reduced applications earlier this season “are likely to become visible only later in harvest outcomes.” Translate that from institutional language into plain English and it means this. The damage is already done, it is already in the ground, and we are simply waiting for it to arrive on the shelf.
Now check the calendar. Six to twelve months from the spring planting season lands us squarely in late 2026 and early 2027. Which is precisely when the strongest El Niño in the instrumental record is forecast to peak, bringing its signature droughts to Southeast Asia, Australia, southern Africa, northern Brazil, and South Asia, the very regions that grow the world’s rice, sugar, and oilseeds.
The World Bank warns openly that a strong El Niño “could disrupt multiple crop belts simultaneously” on top of the conflict-driven input costs. Their baseline projection assumes the Middle East disruptions ease by autumn. What in the last two years of Middle East history suggests that assumption is safe?
The System Has No Slack Left
The comfortable answer is that global markets always adjust. But adjustment requires slack, and the slack is gone. Global cereal production is expected to decline from last year’s records even before El Niño does its work. The UN World Food Programme, hardly a den of right-wing preppers, is calling this the most significant disruption to its supply chains since Covid and the invasion of Ukraine, and its supply chain director put the stakes bluntly.
Today’s supply chain challenges are tomorrow’s hunger crisis.
There is also a political dimension that markets cannot price. When food gets scarce, governments do not behave like economists. They behave like politicians. Export bans, hoarding mandates, and panic buying at the national level turned the modest rice shortfall of 2008 into a global crisis, and analysts are already warning that import-dependent nations are the first dominoes.
The 2015-16 Super El Niño, a far weaker event than what is now forecast, threw tens of millions into food stress across Africa and Asia. This one is projected to be stronger, and it arrives with fertilizer already rationed by price and shipping lanes already contested by missiles.
What Joseph Knew
Scripture does not treat preparation for lean years as faithlessness. It treats it as wisdom delivered in advance to those willing to act on it.
Behold, there come seven years of great plenty throughout all the land of Egypt: And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt.
Joseph did not respond to that warning with a hashtag or a committee. He stored grain during the years of abundance, and when the famine came, Egypt stood while its neighbors begged. The lesson is not that famine is certain. It is that the time to prepare is precisely when preparation still looks optional.
Nobody who filled a pantry in a year of plenty has ever regretted it, and nobody standing in an empty aisle has ever been glad he waited for certainty.
None of this calls for panic, and panic is the enemy of sound judgment anyway. It calls for the same unglamorous prudence our grandparents considered ordinary. Keep some cash margin, know your local growers, and put real food in deep storage while it is cheap and available, because the entire arc of this story is that cheap and available is a closing window.
Families looking for a straightforward place to start can visit Heaven’s Harvest and use promo code Patriot for 15 percent off long-term storable food. The forecasts may yet soften, the strait may yet reopen, and we should pray they do. But hope is a fine thing to hold and a foolish thing to eat.
Computer glitch, yeah right. Wells Fargo SUCKS. They hit me with an overdraft fee twice on the same day. I can’t believe the greedy ba$tards. They can go pound coconuts up their @$$, I hope they go under and die. Account closed.
Just imagine the mayhem it’s gonna be like after the rapture when the world will be forced into a cashless society and then some earthquake or lightning strike blows up the hard drives and the backups of everybody’s bank account.
Everybody’s broke. Oops!
Don’t deceive yourself.
Nothing you mentioned is guaranteed to wait until AFTER the rapture.
Times leading to the end will be very, VERY, bad for Christians as the evil that dominates the world seeks to eradicate us. The rapture is God saving us from HIS wrath poured out on the world.
Until then…it’s going to get a lot worse.
Wells Fargo mainly makes their money on the premium charged on sending money out of the country by legal and mostly illegals here.
The Tech Oligarchs and elites who foolishly kept more than the FDIC insurance limit in SVB will lose NOTHING. Why? Because our wonderful Congress will bail them out this coming week. Rest assured, if this was a regional Midwest bank, no such bailouts would be coming for the Deplorables…
But don’t worry, when we go to a CBDC, nothing like this could EVER HAPPEN.
Support CBDC? You’re a fool.
Because if you thought cancel CULTURE was bad, wait until they can cancel YOU and every “penny” you have with one single keystroke.
The more you engage in electronic transactions, the greater control the Feds have over your life. And we’ve seen what Dems in control will do to maintain power. Concoct a total lie about Russia Russia Russia. Steal an election. Collude to create a scamdemic. Force a deadly gene therapy on the populace. Cover up up treasonous activity by the Resident and his family. Plant evidence and coverup exculpatory evidence. Imagine when they decide they don’t like what you’re buying, where you’re traveling, who you’re associating with . . .
Just to be clear…the “Red Tsunami” DID happen, IF the elections were as fair as they were pre-2004. 99% of virtually every article you post would not be an issue if 100% of all elections were fair. MAGA would be dominant, RINO’s would be the new second party, and the Democrats would be reduced to the size of the Green Party if that were the case.