As of Sept. 30, the stock values of America’s Big Four banks—JPMorgan Chase, Bank of America, Wells Fargo and Citigroup— are engaged in a free-fall, year-to-date, by a range of 32 to 56%, indicating that despite their inflated profit reports and the frantically rising stock market, there is deep trouble at these banks.
The reason is that insiders of the City of London and Wall Street, and some investors, know that these banks hold worthless garbage on their books, and are at the fulcrum of a speculative financial system that is hopelessly bankrupt.
For example, Bank of America’s stock value is down 33% this year-to-date, and is back where it had first been in December 1996, some 24 years ago. Citigroup’s bank stock is down 46% year-to-date, and is back where it had been in 1993. The Big Four banks’ combined stock market capitalization is $685 billion, a fall of 46% from its peak in January 2018.
