Gregory Mannarino: Bank of America Being “Set-Up” to Fail in Next Financial Crisis as Buffett Sells $1B Worth of Stock

ITM Trading, Released on 8/30/24

“Bank of America (NYSE: BAC) has problems, and I’ve been warning about this for years. They need a scapegoat, and it’s going to be the Wall Street banks,” says Gregory Mannarino, founder of traderschoice.net and financial strategist. He argues that major Wall Street banks like Bank of America are set up to be “fall guys” in the event of a financial collapse. According to Mannarino, the central banks are deconstructing the current economic system to build a new one, and they need a scapegoat to blame for the fallout. “The middle class has been sucked dry. They don’t have much left. People are being pushed to the lower rung.” Watch the video to gain insights into his views on the economy and discover strategies to safeguard and grow your wealth.

00:00 Introduction and Overview
01:35 Currency Devaluation and Lower Rates
04:34 Exposure to Commodities and Diversification
10:03 The Potential Fall of Bank of America and Consolidation of Power
18:21 The Need for Higher Interest Rates and a Stronger Currency
25:08 The Loss of Freedoms and the Move towards a Neo-Feudal System
28:59 Conclusion and Call to Action

Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a business day “MarketReport” on YouTube. You can find out more about what he offers at his website Traderschoice.net.

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