May 1—With the dismantling and selloff the First Republic Bank over the weekend, more was exposed than that bank’s dirty underwear. The FDIC arranged a deal with Jamie Dimon’s JPMorgan Chase, wherein the already bloated Chase Bank will become even more bloated, and the American public, in the form of FDIC bailouts, will pay for the unwanted toxic paper. Further, this is now officially the second largest bank failure in U.S. history, exposing the fact that the U.S., and by extension the entirety of the trans-Atlantic economies, are in an existential pickle between a hyperinflationary blowout on one side, and a rapid collapse of financial values on the other.
