Watchman Warning Banks Going to Collapse. Thousands of US Banks Are “Insolvent.” Thousands of Banks Will Close There Door’s Soon–Be Prepared: Do Not Think Cryptocurrency Will Save Us; It Won’t

HNewsWire: by Tyler Durden Saturday, May 06, 2023 - 12:00 PM Following the collapse of First Republic last week, the meltdown of three other banks, and the Federal Reserve's quarter-point increase, making the tenth straight hike in an aggressive campaign to tame elevated inflation, a professor of finance at the Stanford Graduate School of Business presented a grim warning that the regional banking dominos are falling. In a New York Times opinion piece titled "Yes, You Should Be Worried About a Potential Bank Crisis. Here's Why," Professor Amit Seru wrote, "the fragility and collapse of several high-profile banks are most likely not an isolated phenomenon." He said, "A damaging combination of fast-rising interest rates, major changes in work patterns, and the potential of a recession could prompt a credit crunch not seen since the 2008 financial crisis." Just in the past few months, Silicon Valley Bank, Signature Bank and...