| By Teeka Tiwari, editor, Palm Beach Daily Two decades ago… an obscure act ignited one of the greatest merger waves in the history of the banking industry. On November 4, 1999, the Gramm-Leach-Bliley Act passed, repealing part of the Glass-Steagall Act. The Glass-Steagall Act of 1933 was an emergency measure to prevent bank failure during the Great Depression. It separated Main Street banking services like home loans and checking accounts… from riskier investment banking business like securities trading and services. Upon Glass-Steagall’s repeal, banks went on a merger boom. All of a sudden, traditional banking giants could leap into the highly lucrative investment banking field. They realized if they could get scale in the traditional banking area, they’d have access to cheap capital they could put to work in the investment banking business. | Recommended Link | | [BUY ALERT] Three "Penny IPOs" for < $20 total! While Wall Street was busy lying to you last year… Pumping up their "hot" IPOs like Uber and Lyft (which dropped almost 75%!) … Tech legend Jeff Brown was playing a different game… Focusing on tiny "Penny IPOs" 100 to 300 times cheaper… And, boy, did it pay off! He recommended a little-known Penny IPO that quickly shot up 432% in six weeks… And now, he's spotted three more. And on September 23, at 8 p.m. ET, he has agreed to reveal how you can learn the names of his next three top Penny IPOs. (You can buy shares in ALL three of these tiny stocks today for under $20… TOTAL!) | | | -- | Big banks scooped up regional banks… Regional banks picked up community banks… And some big banks even grabbed financial firms like brokerages and insurers to add new products and services. From 2000–2002, we saw a total of 1,467 banking deals. Takeover premiums surged. The average premium on a bank acquisition was 45% – almost double what it was in prior years. Hundreds of deals closed at 50%-plus premiums. And dozens more closed at 100%-plus premiums. Why am I talking to you about this today? This breakthrough will Mint the FINAL Wave of 5G Millionaires It all has to do with a little-talked-about rule change that could spark a brand-new wave of merger mania. But unlike the repeal of Glass-Steagall, which touched just about every bank, this rule change will directly impact just a small subsector of banks. Crypto Mania Is Coming to Banking As crypto assets have grown in popularity, a glaring problem has emerged… the lack of banking services. Both large and small crypto businesses have had a tough time securing banking services. This is an even more acute problem now because the World Economic Forum projects blockchain technology will grow 295,762% by 2027. As you can see, this is clearly a massive opportunity for banks. But the big banks have been terrified of offering banking services for blockchain projects out of fear of running afoul of regulators. Without an approved framework to work within… most banks have shunned the industry. | Recommended Link | | Weird 3-second financial maneuver His name is Jeff Clark. He left his wallet at home… He doesn’t have any cash on him… And no credit cards either. But thanks to this 3-second financial maneuver… He can generate enough instant cash to buy an expensive gift for his wife… By the time he walks from his car to that Nordstrom. | | | -- | But that hasn’t stopped a handful of smaller banks from venturing into the blockchain space. That’s incredibly important to you, because a recent ruling has finally opened a pathway for banks to officially work with crypto assets and blockchain companies. On July 22, the Office of the Comptroller of the Currency (OCC) issued guidance that banks can store and work with cryptocurrency. If you haven’t heard of the OCC, it regulates all U.S. banks. It’s one of the most powerful federal agencies in the country. Here’s the key passage from its landmark guidance: We conclude a national bank may provide… cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency. This is incredibly bullish news for blockchain… Buffett Dumps $800M Of Apple, Buys This Instead! The OCC ruling has given the traditional financial system the green light to come into crypto. And it means every U.S. bank can safely get into crypto without fear of regulatory blowback. This move will rapidly accelerate adoption of blockchain technology and crypto assets. For the first time, banks now have specific rules allowing them to work directly with blockchain assets and the companies that issue and work with them. And we’re seeing that happen already… Just last week, Wyoming granted crypto exchange Kraken a state banking charter. It’s the first crypto firm to become a U.S. bank. The bank is called Kraken Financial. And according to its CEO, as a state-chartered bank, Kraken Financial now has a regulatory passport into other states… That means it can operate in other jurisdictions without having to deal with a patchwork of state regulations. I’ve been predicting that we’d see banks open in the crypto space because they’ll offer a new lucrative source of revenue. And that’s the reason Kraken got into this space. Its CEO says crypto banking will be a major driver of revenue from new fees and services. So I wouldn’t be surprised if a large global bank swoops in and buys up Kraken Financial. | Recommended Link | | The Best Way to Play the Tech Boom One small corner of the tech boom recently returned extraordinary gains… And most investors missed out. RNC made 900% in 34 days… FVAN made 3,400%… And one company, GGI, made 9,400% in just over three years. A $15,000 investment in GGI would've turned into $1.4 million. While investors were picking over the scraps of the 5G boom… Or trying to decide between Amazon and Apple… They missed a key part of the tech boom. It's not microchips, semiconductors, or online advertising… | | | -- | Ready for Prime Time Let me put this opportunity in perspective for you… Right now, an estimated 35–50 million Americans own crypto. That’s 10–15% of the U.S. population. The U.S. banking system touches the lives of over 300 million Americans. And it holds north of $20 trillion in assets. As more people, businesses, and institutions warm up to crypto… we’ll see billions – even trillions – of dollars flow into blockchain and crypto companies. Don’t you think the banks would want a piece of that pie? The short answer is yes. Fees are the lifeblood of banking. It’s estimated that financial firms rake in about $439 billion per year from fund management fees alone. This is Wall Street’s gravy train. But this gravy train is drying up… Over the last decade, Wall Street profits from managed funds and security products have decreased by about 24%. So they’ll soon turn to crypto financial products as a new revenue source. And the OCC just gave them the green light to do so. Banks are licking their chops… As a brand-new asset class, they can charge above-average fees on any crypto-related business they undertake. It’s the same reason Kraken launched Kraken Financial. Eventually, we’ll see a wave of traditional financial firms buy up these smaller crypto banks. And that’s bullish for the entire crypto ecosystem. Friends, if there was ever a time to get into the crypto space, it’s now. The OCC’s regulatory guidance… and Kraken’s leap into banking services… proves crypto is ready for the prime time. If you don’t already, you should absolutely own some bitcoin. It will be the reserve currency of the entire crypto banking space. And its current price will look like peanuts once crypto banking explodes. Let the Game Come to You! 
Teeka Tiwari
Editor, Palm Beach Daily P.S. As I mentioned above, we’ll see bitcoin – and crypto – adoption skyrocket over the coming months as crypto banking takes off. And I believe it’ll spark a once-in-a-lifetime opportunity… But starting with its underlying blockchain technology, I believe we’re about to see the biggest wealth and power shift in U.S. history. Those who take the right steps now could fantastically grow their wealth… Those who don’t will be left behind. I put together this new presentation to explain all the details…
Like what you’re reading? Send us your thoughts by clicking here. IN CASE YOU MISSED IT… Coronavirus Will End, But… America's Financial Repression Is Just Beginning. Chances are, the coronavirus won't be the end of humanity. But one former insider says… The Fed's reaction could soon mark the "end of retirement." Even if you've saved $500,000… $1 million… or more. The Feds just unleashed "unlimited" money-printing… and now $10 trillion is set to flood into the economy. The unprecedented $2.2 trillion response to the COVID-19 shutdown allows politicians to look like they are "doing something." But if printing money could actually make people better off… Venezuela and Zimbabwe would be the wealthiest places on earth. Dan Denning – a former congressional staffer – says all this "free money" is guaranteed to make things much worse. Especially if you have money saved for retirement. In fact, Denning famously predicted this outcome three years ago. At the time, it seemed a bit crazy – so few people listened. Now, his prophecy is impossible to ignore. If you have any cash set aside in the bank or a money market account, it's critical you pay close attention to what he has to say, before it's too late. There's still a lot you can do to protect yourself – but there isn't much time… Go here. 
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