Posted Dec 4, 2022 by Martin Armstrong
COMMENT: Thank you for all you do. Your input has guided me well.
I suspect my Bank is in deep trouble. _____ bank in ____ CA.
They specialize in small business. First red flag was freezing my account for no reason. I then bounced a check because my account was frozen. They could not give me a reason for freezing my account. Then they offered me, according to them, a great investment deal, that was the second red flag. Then I was contacted by a relationship manger. This was the third red flag.
Will be closing all my accounts with ______ next week.
REPLY: There are clearly problems emerging since interest rates have risen and many banks were not in a position to take the losses on long-term investments.
Always keep some cash. A word to the wise should be sufficient.