FXTM Fed insiders heavily exposed: 725 banks are on the watch list, and the United States may be preparing for a "new round of banking collapse"

After the collapse of Silicon Valley banks, the United States has once again sounded the financial alarm bell. Robert Kiyosaki, author of "Rich Dad Poor Dad", said on Thursday (September 28) that he was on a podcast with Federal Reserve insider and central bank policy expert Nomi Prins, who revealed that the Federal Deposit Insurance Corporation (FDIC) has placed 725 banks on a watch list, warning the market to brace for a new banking collapse.

"Podcast with Dr. Nomi Prins, a Fed insider and author of Conspiracy and her latest book, Perpetual Distortion," Kiyosaki tweeted. "Her message is simple, take money out of banks. She reports that the FDIC has placed more than 725 banks on a watch list. Be smart, be smart and prepare for a bank collapse."

According to a summary released Monday by Standard & Poor's Global Market Intelligence, U.S. bank deposits fell year-on-year as of June 30, a decline since 1994, when the Federal Deposit Insurance Corporation began collectingdataThe first decrease since then.

Deposits fell 4.8% year-on-year to $17.269 trillion in the first half of 2023 as bank runs led to the collapse of the three largest banks. Total U.S. bank deposits fell across the board, with most large banks having lower deposit levels than in 2022. Standard & Poor noted that 30% of the overall $871.60 billion plunge came from JPMorgan Chase, Bank of America, Wells Fargo and Citi.

JPMorgan's total deposits fell 2.8% year-on-year to $2.068 trillion as of June 30, but the bank remained the country's largest depositor for three consecutive years. The decline came despite inflows from the May 1 acquisition of First Republic Bank.

Jeremy Barnum, JPMorgan's chief financial officer, said on a July 14 earnings call that as quantitative tightening continues, "our core view remains that deposits across the concession business will decline modestly."

Bank of America, once the largest depositor in the U.S. in 2020, saw its deposits drop 5% to $1.888 trillion and market share drop 3 basis points to 10.93%, while Wells Fargo's fell 6% to $1.377 trillion. Citi's deposits fell 0.8% to $757.14 billion, the report noted.

Bank of Montreal was the biggest gainer this year, at 51.7%, with total deposits reaching $2022.4 billion, an increase likely due to its February acquisition of Western Bank.

The overall drop in deposits reflects the turmoil in the banking sector caused by rising interest rates, inflationary pressures and falling consumer confidence. Despite the FDIC's insistence that the banking system is adequately capitalised and that new proposals would increase the holding capital of the largest banks by 19 per cent, the first drop in deposits in nearly three decades shows the increasing pressure on Financial Institution Groups.

Charles Schwab Corp. saw the biggest drop in deposits from last year, down 31.1% to $304.79 billion, as the downturn was largely due to outflows from brokerage accounts.

SVB Financial Group fell off the list of the top 15 US banks after its subsidiary Silicon Valley Bank collapsed in March. However, later that month, First Citizens Bancshares stepped in and bought the surviving Silicon Valley Bridge Bank.

As banks continue to close branches to cut costs and adapt to digitalization, the total number of branches has decreased from 79,172 in 2022 to 77,796