Well, folks, as “Bidenomics” tightens its grip on the American economy, keep an eye on the banks.
Turns out, the latest FDIC report just dropped a bombshell.
Turns out unrealized losses on investment securities for banks are now at a whopping $517 billion.
What’s driving this?
Some of the blame could be due to mortgage-backed securities taking a hit.
This now marks the 10th straight quarter of unrealized losses.
This beats the infamous 2008 Financial Crisis.
The latest report from the FDIC shows shows unrealized losses on held-to-maturity and available-for-sale securities, totaling $516.5 billion, up $38.9 billion from the previous quarter. Now compare to 2008-2009 crisis 👀.
LMAO pic.twitter.com/Ltvn8W7LE9
— Gertrude McCrackin 2.0 — Ken Conklin (@DocnotDoctor76) June 4, 2024
BREAKING: U.S. Banking System
FDIC warns that 63 Lenders are on the brink of insolvency due to banks sitting on $517 billion in unrealized losses pic.twitter.com/XReQWwNIV5
— Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) June 4, 2024
🚨BREAKING: 63 AMERICAN BANKS ARE ON THE BRINK OF INSOLVENT COLLAPSE ACCORDING TO THE #FDIC
“Know What You Hold!!!” pic.twitter.com/H68wW21kj0
— Echo 𝕏 (@echodatruth) June 4, 2024
The Daily Hodl reports:
Unrealized losses in the US banking system are once again on