Something really big and bad is about to happen. We've been saying this for years ,I know. But you can feel the energy and tension EVERYWHERE now. The signs are on the wall, Russia has divested of all dollars, China is delisting its companies from US exchanges, US commercial banks are closing credit lines. Nato on the war path. Collapse is only a few months away. We are on the precipice. Something wicked this way comes. The banks are positioning themselves in advance. I’m sure they see the writing on the walls. We have to wait for the curtain to get pulled back to see how bad it will really be. Big money bidding bonds. Banks force closing lines of credit. Somebody got a memo. Shouldn't be long now. Wells Fargo is shutting down all existing personal lines of credit in coming weeks and no longer offers the product, according to customer letters reviewed by CNBC. A Trillion being parked at the FED by the banks, now credit lines being shut down. Oh goody, something big is about to happen. Smart money knows something. I remember this is exactly what happened in 2006-2007 just before the housing crash and the great recession. I figure we are 6-12 months before a massive collapse. Credit Card companies like Capital One have been cutting credit lines in half for the past year. Happened to me and some friends of mine. They see a recession ahead and are getting ahead of it by lowering credit. Same thing happened in 2009. Fed 2008: Consume as much as possible. Fed 2021: Consume Nothing And Be Happy! Banks find that having customers is risky. Wells Fargo is totally corrupt. Just file for bankruptcy already and don't repay a cent. They can eat their unsecured loans. Their Headquarter is in San Francisco, so they do not have the same access to the friendly information and collaboration with the New York Fed which the New York banksters experience: JP Morgan, Citicorp, Goldman, Morgan Stanley. The CEO of Morgan Stanley is on the Board of Directors for the New York Fed. But this is no excuse for Wells Fargo to cheat their customers, as they are a despicable bank who would not loan grandma $20 for a walker, and would trip her on the way out the door, charging her a fee for blocking the entrance. If you're dependent on Well's Fargo as a critical line of liquidity to make ends meet, you're in trouble regardless. Wells Fargo in particular and Banks in general are organized criminal enterprises. This is the national US bank that created not 30,000, nor 300,000, but over 3,000,000 fake accounts via identity theft. Congress looked into it. No prison for Bankster‘s. They just pay a small partial fine with the money they stole, make a significant contribution to all of the favorite politicians and then continue thieving. Watch for the tidal wave of revolving credit non-payment. Add to this the socialist attitude of so many, especially the young, an attitude facilitated by endless government support, that loans of all kinds shouldn't have to be paid back. Meanwhile, their buying habits largely don't support American jobs, which ultimately would come back around to support their own employment. After all of the shenanigans this bank has pulled over the years, if you still have money there, you get what you deserve. Last time I saw this happen was in a Latin American banana republic. The sudden and unexpected closure of all credit presaged a total financial collapse caused by a total loss of confidence in the central government. The bank's profits became less important than isolating and protecting its few remaining unencumbered assets. In certain uncertain times, the creation of wealth becomes secondary to the protection of wealth. Who are these people still banking with Wells Fargo? How much BS do they need to see before they close all their accounts? You might as well be borrowing money from the mafia when you do business with money center banking criminals like Wells Fargo. Reserves required in today's fractional reserve banking system $0.00. Since March they don't have to have anything in reserve to loan it out. Because pandemic of course. This is the end of Banking as we knew it. This should open your eyes. If another bank does this also, run for your bunker. Hopefully you'll get there and be safe at the fringes of the empire and be forgotten for a while it blows over. This has been happening for a while. No bank needs to make money. They just grow it from the Fed Greenhouse. Retail banking - along with brick-and-mortar branches, tellers, checking accounts and deposits - is a dying business model, killed by the Fed, and they know it. All they can do now is try to prolong its life with nuisance fees, scams, and the constant flogging of various scammy types of loans to people who neither want nor can afford them anyway. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. Thank You. Banks no longer make money by lending to people. They just function as government shills and get their income from covering up the mess. Last year they kicked the can down the road with the lockdowns and pandemic. This year they'll turn off the lights. The revolving credit lines, which typically let users borrow $3,000 to $100,000, were pitched as a way to consolidate higher-interest credit card debt, pay for home renovations or avoid overdraft fees on linked checking accounts. Wells Fargo warned customers that the account closures “may have an impact on your credit score,” according to a frequently asked questions segment of the letter. The bank will focus on credit cards and personal loans. Translation...loan-sharking" is where it's at. Force people into bankruptcy, as if by design of some evil force. "You will own nothing and you will be happy" Said Schwab. They got caught doing something shady and wanted to pull the plug before it went public, so they can claim they've addressed the issue. Pre-emptive damage control. Wells Fargo creating fake customer accounts to make their stats look better. Something is going to come out. The last time they got caught in the act -- with all the fraud and additional fake checking and savings accounts they opened on behalf of their customers/victims -- it cost them BILLIONS. This time, they want to avoid having to pay that massive fine. I mean, anyone with two brain cells to rub together can see Wells is a massively corrupt institution. Why anyone banks with those crooks is beyond me, but nobody shops around for banking anymore, they just sign up, no matter how evil and scuzzy the firm. Banks are bloated and over regulated, so they are on the way out indeed. Googles, Walmarts, Amazons, Paypals are drooling on this business, given their payment business is an unregulated free for all. All banks suddenly cut sharply back on all loans about a 45 days ago. That's one reason the house-buying frenzy slowed a bit. Banks finally see the economy is collapsing and that's why banks and Money markets have been shoving their money into the Fed via reverse repo. The Trillions of dollars the fed covered the earth with are about to collapse the dollar and/or send rates sky high, so banks don't want to make 3-5% loans when we are looking at potentially 18% rates again like in the 1980s. This will suck everything down with it 80-90%---stonks, Real Estate, etc... Or worse yet, massive defaults. They've known that the system was unstable and likely to collapse for a while now. If I know it, key players in the banking system know it. They're just at the end game and don't know which way to jump. Financial system reset. Why have nations been loading up on physical Gold? The new system is already operational. The goal is to make the transition as uneventful as possible but there will be some financial/bank activities that will just have to be ended for at least a transition period. Don't get your hopes up that all your debt is going to be forgiven. Right now, we need a sound financial system, and fiat dollars ain't it. The debt in clownmoney will be forgiven but the lifestyle they looking for will be discontinued permanently. All I'm looking forward to is the crypto cult losing everything when the financial system really resets. The only silver lining of the new monetary policy many nations will adopt. The Modern Monetary theory of just printing cash will end the need for bankers to sell government debt. Now they can toss them in jail; they don't need them anymore. Wells Fargo will package up the mortgages and sell them to Black Rock. Black Rock will then send out an intro letter. In intro letter they will offer you 20% over market value to buy your house AND you still get to live in it as long as you continue to make rent payment to them. The new motto is "You will own nothing, and be happy". 2021: The Great Reset project officially begins. How are you enjoying the previews so far? The banking system is a complete fraud. Have fun buying into it. What a great bunch of guys. First they sign you up for things you didn't ask for and now they are unsigning you up for things you did ask for. Even if it is just for a week, the only way to cure these bank abuses is to put their Boards of Directors in jail as part of the settlement agreement. They will be a lot more careful next time, and so will everyone else. Personally, I think it’s just Wells Fargo being Wells Fargo. However, if the economy was going to take a hit, the middle of summer is the worst time. You wanna see mayhem. Try no money, retirement, or savings. Couple that with summer heat. Fed coin is about to drop. Defacto devaluation next. Housing collapse. Jingle keys follows. Fed, Fannie and Freddie own all the notes, I'm sure that'll work out SWELL. Meanwhile the Taliban is doing a victory lap over the BS war and the US tucking tail while leaving billions in weapons,equipment and transportation. The US consumer is levered to the hilt . PURE CHAOS is changing gears. No way out from here. Ammo is back on the shelves; get some! The way to deal with this garbage is simple. Be your own bank. Live debt free. Use cash. Keep (absolutely necessary) loans between family or in the non-banking sector. Switch all accounts to a local Credit Union and keep minimum on deposit. And get out of debt. The only thing I still own are my Precious Metals (besides house, ammo, farmland,food, etc.) Something bad is about to happen. Then again, I've been saying this since 2008. Once Gartman went bullish, I sold everything. Physical Silver is the way. This was The Atlantis Report. 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