The crash of the Silicone Valley Bank this week is feared as the beginning of a domino series. The idiot Fed head, Janet Yellin, kept the interest rates artificially low - likely to avoid gobbling up a big chunk of the Dem give away welfare budget to pay the interest on the exploding debt. Airhead Yellin assured the nation that 'inflation was transitory' thus deepening the chance of a bridge washout on the road in to the future.
Member banks were holding vast amounts of low interest treasuries on their books; with inflation threatening to deep six the wonderful Bitem economy, interest rates - by someone other than Airhead Yellin - started to rocket up, leaving member banks holding huge amounts of worthless treasuries.
Banks can only afford to hold limited amounts of useless assets before they are unable to honor their pay outs. It is all tied to the marvelous Bitem economic Build Back Better economic strategy. Bitem's new $6 trillion budget should set things straight, especially with $2 trillion in new taxes. (The socialist Dems will never admit that the federal budget is not like a household budget - you don't raise taxes [income] to yield more revenues [spending]. More taxes reduces taxable activities; Trump's & GOP tax cuts caused revenues to soar --- but we are too stupid to understand that. AND, more of Bitem's corporate taxes reduces hiring and leads to layoffs, yielding still less revenues!)
The Dems have precipitated a vicious downhill cycle. It seems doubtful any of those Harvard trained Modern Monetary Theory economists will figure out a quick fix... maybe replace the dollar?
The dollar has been on life support for some time.
I don’t worry about a lot but I’m worried about this.
-SB
Great Reset. Introduction of the next fiat - us digital currency.
They don't want the U.S. to succeed, they hate the US, and want us to fail.
Once you keep that in mind most everything that happens starts to make sense.At least it does for me.