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Cashless Society Coming Soon? Major Banks Closing Over 3,000 Branches Nationwide

Under President Obama, the US changed course by moving away from free market capitalism and traditional values to a global path towards atheistic Marxism.

In line with the Agenda 2020, and the World Economic Forums, ‘Great Reset”, Obama used executive orders to unconstitutionally protect illegal aliens from deportation (DACA), advance policies that led to increasing racial tensions, and advancing the “gay marriage” agenda.

In less than 3 years of the Biden administration, many can see that Obama’s third term is playing out.

The US now has open borders, increasing crime, social issues gone crazy, funding corrupt military conflicts, and is running up record annual budget deficits.

What do these all have in common? They are part of the plan to deconstruct our nation, hoping to rebuild it as a powerless and divided collection of states without a unified national identity.

The globalists’ solution to dealing with the massive national debt and coming financial collapse?

The conversion to a Central Bank Digital Currency (CBDC).

Central and commercial banks see “clear potential and value” in Swift’s pioneering CBDC interoperability solution, following successful testing in a sandbox environment.

Many financial experts and influencers are now sounding the alarm of a coming financial crisis.

“CBDCs | “At Some Point, the World or a Country Is Going to Go Into a Crisis. When That Happens I Think They Will Close the Banks, You’ll Wake Up On Sunday & Hear the News, Monday You’ll Get the Announcement We’re Getting the CBDCs.”

Exploring the Risks of Central Bank Digital Currency

The biggest threat to our financial freedom – CBDC

Major financial institutions seem to be accelerating the trend by closing physical bank branches.

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According to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday, Bank of America led the way by closing 21 branches in just the first week of October.

Wells Fargo also closes 15 locations, while US Bank and Chase reported closing nine and three branches, respectively, according to the Daily Mail.

In total, some 54 locations had either closed or were scheduled to close between October 1 and October 7. Of the overall closures, three were in Louisville in Kentucky. Eight of the 21 Bank of America closures were in California.

On Friday, major US banks including Wells Fargo and JPMorgan Chase reported their third quarter earnings. Increased revenue thanks to higher interest rates saw both banks’ revenues increase.

This months’ closures come after an exclusive poll by revealed that 51 percent of consumers said they were very or somewhat concerned about the declining number of bank branches. Only 18 percent said they were not at all concerned.

The survey also found that brick-and-mortar services are less accessible to black Americans. While 14 percent of black Americans said they did not have a local branch, that was only the case for 8 percent of white Americans.

The Kiplinger Letter reported that over 3,000 bank branches have closed down nationwide.

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Banks are closing branches faster than they’re opening new ones. U.S. banks closed over 3,000 branches last year while opening just 1,000. JPMorgan Chase led in branch closures last year, shuttering 144 branches, while opening 133. The trend will likely continue as banks face staunch competition for deposits and younger customers from online banks, fintech firms and Big Tech.

Note that the number of bank closures varies widely by area. Between 2017 and 2021, more than 7,000 branches were closed in the U.S., which represents 9% of all locations. One-third of these closures have been in areas with large minority populations.

The initial wave of closures was sparked by mergers and acquisitions in the wake of the 2008 financial crisis. More recently, changing consumer preferences and improved banking tech are the reasons given for ditching brick-and-mortar locations. It shows that big-bank investment in tech is paying off, as new apps and websites with an expanding array of services have lured more customers.

American Banker Warned:

Taking into account openings and closings, U.S. banks shuttered a net 2,927 branches in 2021, according to S&P Global. That lowered the U.S. branch count to about 80,950. It also set a record for closings — and marked an increase of 38% from 2020, the previous record year, the firm’s data shows.

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