If you listen closely to the end of the video, it does not appear that is the case. He seems to be saying this type of problem will affect some occasional banks; but this particular California bank was uniquely inattentive to the risks associated with investing its deposits. Good banks manage this well, and learned some lessons from 2007-2008. Let’s hope we don’t see bail-outs and a panicked reaction around the country:
Will This Be The Trigger that Precipitates the System Collapsing?
5 thoughts on “Will This Be The Trigger that Precipitates the System Collapsing?”
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I was born in the middle of the ” Great Depression “. Thereafter my Dad later told me about it and what he and Mom had to go through . I hope the country does not have to experience another such downturn.
Smart people with too much money should spread their deposits out among several banks ( $250,000.00 FDIC insured for each named account holder i.e. $750,000.00 for Mr./ Mrs. John Doe and John Doe Jr .)
For a normal bank, about 50% of deposits are FDIC insured. But 93% of SVB’s deposits were not FDIC insured. So SVB was vulnerable to a classic, textbook bank run. What causes a bank run is a mystery to me.
Fred, spreading the money around is a good idea. I think the FDIC’s ability to back all that it is guaranteeing is extremely limited, so if large numbers of banks were to fail, the system would not work.
There is a theory floating around that this will be the way they get all to accept the CBDC. Market crash, offer the peasants CBDC, and thereby having complete control over EVERYONES purchasing.
This ties in to 15 min cities as well. Cross your “border”, card stops working. Social media post that challenge an official narrative, card can be shut down. This is social credit scoring (ESG). Complete and total tyranny.
Gen. Michael Flynn was on Alex Jones’ show today. It’s worth a listen.
Tommy, evil players used to 2007-8 financial crisis to expand economic and cultural Marxism and to reduce our liberty. They used Covid and its aftermath to do the same, but in that case their efforts were premeditated, and were even more demonic and far-reaching.
Having seen all of that, what you are suggesting is not even remotely beyond the realm of possibility. I hope it is not the case, but if the entire country begins to panic and pull assets out of many of the banks, there will be a huge problem. (And I hope this situation is limited in scope as Carney/ Kudlow seem to be relating in the video.)