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The Atlantis Report, 12/3/23
"Over 60 Bank Branches Close As Americans
Scramble To Pull Money Out Of Banks"
"Big banks like PNC Bank and JPMorgan Chase filed for closing several of their branches in multiple states last week amid a troubling pattern of rising branch shutdowns over the past years. Several banks filed for closing down branches, with PNC Bank leading with the most number of filings. It filed for 19 branch closures - five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida. JPMorgan Chase followed closely with 18 filings, three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states including New York, Illinois, Florida, and Massachusetts. Citizens Bank came in third with eight branch closure filings, six in New York, and one each in Massachusetts and Delaware. Minneapolis-based US Bank filed for seven closures, three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois.
The use of the US dollar is increasing, partly due to the printing of more money. This has an effect on the Western economy. China and Japan, which hold a significant amount of US Treasury, are gradually reducing their holdings. Next year, there might be a situation where the Bank of Japan is forced to sell a large portion of the US Treasury, causing global repercussions. The US debt's annual interest expense has doubled in the last two years, reaching 1 trillion, even though the country isn't officially in a recession. The total US debt has risen by 10 trillion since 2020 and is expected to reach 35 trillion next year, a 45% increase in the last three years."
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