Wells Fargo On The Cusp Of Collapse!

I've spoken about the risks of having money in the banking system! And things are getting more and riskier. I thought I'd give you an idea of how corrupt Wells Fargo is and how they live on the edge of trust with their customers.

Cash is king, and Wells Fargo could figure this out fast! Listen to what one of our viewers at World Alternative Media experienced at a Wells Fargo Branch closing his account with them!

And more people are getting screwed over by the corrupt bank!

Here is Wells Fargo's Cash to deposit ratio:
logo-of-wells-fargo.png
Wells Fargo Deposits:
$1,306,079,000,000
Wells Fargo Cash on Hand:
$20,729,000,000
Cash To Deposit Ratio:
98.41% of Deposits not covered
https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/annual-reports/2016-annual-report.pdf

Maybe taking over Wachovia had something to do with this continuous activity of ripping people off. To get you up to pace on what Wachovia did in 2000's before it collapsed in 2009 here is an idea:

Exposed to risky loans, such as adjustable rate mortgages acquired during the acquisition of Golden West Financial in 2006, Wachovia began to experience heavy losses in its loan portfolios during the subprime mortgage crisis.

In the first quarter of 2007, Wachovia reported $2.3 billion in earnings, including acquisitions and divestitures. However, in the second quarter of 2008, Wachovia reported a much more significant than anticipated $8.9 billion loss.

On June 2, 2008, Wachovia chief executive officer Ken Thompson was forced to retire. He'd been head of Wachovia since 2000, while it was still known as First Union. The board replaced him on an interim basis with Chairman Lanty Smith. Smith had already replaced Thompson as chairman a month earlier.

On July 9, 2008, Wachovia hired Treasury Undersecretary Bob Steel as chief executive in hopes that his experience would lead the company out of its difficulties.

Wells Fargo has also had the scam where over 5M fake bank accounts were created. And not to mention their Auto insurance scam insuring cars that people had insured and then having some of them defaulting on the phony auto insurance and try to repossess their vehicle.

Here are a few of the videos Josh and I have done on Wells Fargo that is owned by Warren Buffet:

Peace, Love and Voluntaryism,

John