Financial Weapons of Mass Destruction: On Friday, March 10, Silicon Valley Bank (SVB) collapsed and was taken over by federal regulators. SVB was the 16th largest bank in the country and its bankruptcy was the second largest in U.S. history, following Washington Mutual in 2008. Despite its size, SVB was not a “systemically important financial institution” (SIFI) as defined in the Dodd-Frank …
Read More »
The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks …
Read More »
There are two main avenues to a potential US financial crisis. Such a crisis, because of US financial dominance and because of the interconnections of globalism, which was a huge mistake for humanity, would be international. Worse Financial Crisis than in 2008: One avenue to crisis is the Federal Reserve’s current policy of raising interest rates. This policy follows many years …
Read More »
The crashes of Silvergate, Silicon Valley Bank, Signature Bank and its related bank insolvencies are much more serious than the 2008-09 crash. Banking crisis not over: The problem at that time was crooked banks making bad mortgage loans. Debtors were unable to pay and were defaulting, and it turned out that the real estate that they had pledged as …
Read More »
The failure of Silicon Valley Bank (16th largest bank in US) last Friday resulted from depositors withdrawing their funds in response to a drop in value of the bank’s bond portfolios caused by the Federal Reserve’s ill-considered hikes in interest rates. The mindless policy implemented by the Federal Reserve cures inflation by producing bank runs, failed banks, and unemployment. …
Read More »
Ved inngangen til det nye året er verden fortsatt kraftig preget av århundrets største finanskrise. Denne typen kriser henger nøye sammen med jakten på profitt, forbruk og overforbruk, lån og grådighet, ikke bare hos enkelte finansaktører, men i befolkningen generelt. Det var et overopphetet boligmarked i USA som forårsaket det hele, der individer som kjente sin økonomiske svakhet likevel …
Read More »