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.
For Emergency Preparedness, Don’t Forget the Meds
Being prepared is more than just a good idea—it’s essential. We stock up on non-perishable food, bottled water, flashlights, and first-aid supplies, but one critical aspect often gets overlooked: access to vital medications. What happens if pharmacies close, prescriptions can’t be filled, or you’re cut off from medical care during an emergency?
That’s where Jase Medical steps in, offering a reliable solution to ensure you and your family have the medications you need when it matters most.
Jase Medical specializes in emergency preparedness kits designed to provide peace of mind through physician-reviewed, prescription medications delivered right to your door. Their flagship product, the Jase Case, is a comprehensive emergency antibiotic and medication kit priced at $289.95.
This kit includes 10 essential medications—five life-saving antibiotics and five symptom relief meds—that can treat over 50 common infections and illnesses, from urinary tract infections and pneumonia to skin infections and traveler’s diarrhea. With 28 add-on options available, you can customize the kit to fit your specific needs, including a KidCase for children ages 2-11.
The process is straightforward and hassle-free. Simply visit Patriot.tv/meds, complete an online evaluation, and have your order reviewed by a board-certified physician. Once approved, the medications are shipped discreetly from a licensed pharmacy to your U.S. address (with plans for Canada shipping coming soon). Each kit comes with detailed Med Cards outlining symptoms, dosing, and usage, making it easy to administer even in high-stress situations. These medications are shelf-stable and designed for long-term storage, empowering you to handle medical emergencies without relying on external help.
For those on the move, Jase Medical also offers the Jase Go kit for $129.95, a compact travel med kit covering over 30 common conditions encountered during adventures or trips. And for ongoing needs, Jase Daily provides an extended supply of your prescribed chronic medications to safeguard against disruptions in supply chains or extreme weather events.
Don’t just take our word for it—thousands of satisfied customers have given Jase Medical a 4.9-star rating, praising its role in true preparedness. As radio host Glenn Beck warns, “The supply lines for antibiotics already are stressed to the max. Please have some antibiotics on hand… You can do it through Jase.”
Whether you’re prepping for a hurricane, a power outage, or simply the uncertainties of daily life, Jase Medical ensures you’re not caught off guard. Head to patriot.tv/meds today to customize and order your emergency kit—because when it comes to your health and safety, it’s better to be prepared than sorry.
Computer glitch, yeah right. Wells Fargo SUCKS. They hit me with an overdraft fee twice on the same day. I can’t believe the greedy ba$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.