He made this prediction during an appearance on the "Health Ranger Report," telling the Health Ranger Mike Adams that there are between 4,600 and 4,800 regional banks in the country. Citing another personality with a strong internet following, Morgan said he believes half of that number will fail before 2023 ends. In response, Adams said his prediction of half a dozen banks collapsing was more conservative than that of his guest.
"It's made a lot of sense to me over the years, and that's possible. They're all interconnected," said Morgan, also the publisher and CEO of The Morgan Report. As an example, he noted that a particular regional bank might be made up of 300 banks – including its total holdings. If these regional banks collapse, they would be consolidated under the aegis of a bigger bank that serves as the money center. (Related: Moody's downgrades ratings of 11 regional banks as banking instability continues.)
"I'm not trying to scare anyone, but there's a consolidation at hand. That's very obvious. The powers that be want the regional banks to fail. They want to put it on the money center banks [so] they can consolidate their control," remarked the precious metals expert.
"[This] means you've got your all-seeing eye looking over the entire world. And it's one entity that controls everything – that's their AI. That's what they're shooting for."
Meanwhile, Adams mentioned that he feels sorry for the depositors when banks collapse. However, this feeling does not extend to the banksters, bank principals and shareholders – which he dubbed as crooks taking people's money and throwing it into unprofitable instruments. According to the Brighteon.com and Natural News founder, many of the banks aren't doing their business of paying attention to risk and watching over depositors' money.
Morgan agreed, pointing out that capitalism has been blamed for the problem. However, the real culprit is crony capitalism that deprives people access to some financial exchanges merely for what they believe in. Real capitalism, Morgan said, comes with the right to succeed or fail.
The Health Ranger remarked that Americans are now going to be forced into digital money, in the form of central bank digital currency (CBDC). He cited the Federal Reserve's FedNow payment system as a precursor to this. The push for CBDCs has brought up some questions for Adams, especially in light of the failures of Silicon Valley Bank, Signature Bank and First Republic Bank.
According to him, he would rather trust a private peer-to-peer (P2P) cryptocurrency instead of a CBDC. If banking goes digital, Adams would much prefer a decentralized digital currency than a CBDC which is under constant government surveillance. Morgan seconded the Health Ranger's preference for a P2P model and called on Americans to decentralize.
People have all been enslaved at one level or another because of the current system, said the precious metals expert. Thus, Americans need a system where they can take the power back. A P2P system gives this power back to the people in whatever form – crypto, silver coin or precious metals.
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Watch the full interview between Mike Adams and David Morgan below.
This video is from the Health Ranger Report channel on Brighteon.com.