A week or so ago, I got word that TD Bank here in Canada was suddenly the most shorted bank in the world. As it turns out, it's true. Even more striking is the amount of those shorts has increased by 45% this week! It was Ernest Hemingway, in his book 'The Sun Also Rises' that said a collapse (bankruptcy) first comes gradually, then suddenly. Is TD Bank is experiencing the 'suddenly' part?

Dan Dicks of PressForTruth.ca posted a video on BitChute stating that 'TD Bank was on the verge of collapse, the world's most shorted bank stock in the world going from woke to broke'. He points out that hedge fund bets against the bank last week totaled $4.2 billion and by Wednesday of this week, the amount increased to $6.1 billion.

TD Bank invested heavily in Silicon Valley Bank and others including Charles Schwab Corporation, of which it confirmed an ownership stake in almost 3 years ago. Now, there are concerns about Schwab. Brokerage-Review.com put out this piece titled, 'What happens if Charles Schwab goes bankrupt?'. I don't know the full details about Schwab but that article's quite a statement and suggests things are not well over there either. Which brings us back to TD.

Dicks says the shorts are betting against TD because they know rates are going higher in the USA and for longer. He then plays a clip of Jerome Powell, FED Chair being pranked by someone pretending to be Volodimir Zelensky, the President of Ukraine. Powell blurts out that two more rate hikes are definitely on the way and will be held higher for longer. The next rate hike is set for next week, by the way.

Obviously, this won't be good for the American economy and it won't be good for the regional banks. It certainly won't be good for TD. To suddenly become the most shorted bank in the world means the big wigs are expecting the bank's stock to drop significantly but by how much is anyone's guess.

Canada's banks literally sailed right through the GFC or Great Financial Crisis of '08 without any major issues. TD Bank is one of the 'Big Five' banks in Canada and has a long history. As of July, 2021 TD is the second largest bank in Canada and has the most assets at $1.7 trillion (Canadian) as of January, 2021. TD was formed in 1955 after a merger between the Bank of Toronto and Dominion Bank.

Last night, the Wall Street Journal reported that First Republic Bank is about to be seized by the FDIC and JP Morgan, already the largest bank in the USA will acquire most of its good assets, while imposing huge losses on creditors in what is sure to be a fire sale. Does TD Bank have a stake in First Republic as well?

I guess we're starting to see how these banks are all interconnected. Expect the First Republic news to dominate the headlines this weekend. As banks continue to crash, this will set off an even bigger panic and avalanche of bank runs that could dwarf what we saw in the last several weeks that caused Silicon Valley and Signature banks as well as Credit Suisse to go down in history.

At this point, it's a good idea to hold some cash AND precious metals. To highlight the seriousness of this banking crisis, First Republic's shares at the beginning of March were listed at $120. At Friday's close, their shares were down to just over a dollar, no kidding!

Remember the saying, 'first gradually, then suddenly'. First Republic's stock price is a perfect example and unfortunately, it appears we're just getting started. The M2 money supply contraction is the worst we've seen since the 1930s. Rate hikes and rate hike lag effect along with the money supply contraction and its own lag effect and the debt ceiling fiasco is a recipe for disaster. That's three strikes. Usually, we're out after three strikes, aren't we?

The present financial system, created almost 52 years ago when Nixon decoupled the dollar from gold, is in serious trouble. None of these notes we call dollars, yen, euros, drachma, lire (and on and on) are backed by anything, except our faith in it. As for myself, I much prefer to hold cash and silver outside of the banking system at the moment, at least until the dust settles.

Stay safe and stay prepared!

By the way, I love fireworks but not this kind.

Peace and love to everyone.

P.S. Need silver? New 2023 Royal Canadian Mint Silver Maples are now listed with low, low ship costs on Ebay. Send me a quick note letting me know you saw this post on PublishOx and get 20% off already low ship fee of just $5 within Canada and just $6 to USA and $9 International. Click the image below to view the listing.  I have other silver bars and coins listed so be sure to browse my other listings as well and add me as a favorite. Thank you for your support!

New 2023 Royal Canadian Mint Silver Maple 

I'm now also on Substack where I will soon begin new podcasts as well as post extra material. 

Previous Posts:

Tucker Carlson vs Don Lemon

Is gold set for a $1,000 drop?

M2 money contraction + rate hike double lag effect

Silver's massive 237 million ounce deficit

Liquidity Crunch! M2 money supply at minus 7.9

Silver correction - I knew this would happen!

USD Index down 10% in 6 months.

Silver posts 25% gain since March 10 low.

Never before seen divergence between silver and gold.

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