Never been a better time to pull money out of the banks. Their balance sheets are loaded with unrealized losses and thus inherent risk from bank runs. This makes them incredibly fragile and vulnerable to market volatility and risk. Unfortunately, no bank is immune to this, which is why regulators and industry leaders are urging people to stay calm and not panic.
I urge people caution though, because imagine this, you pull out all of your money from your bank and put it into bitcoin, Bitcoin is a risk-on asset, and people as a response to banks going bust will flock OUT of risk-on assets (like stocks and cryptocurrencies) to (perceived) safety, meaning bonds and gold.
I believe the end result of this banking contagion crisis is the endorsement of a CBDC, which will cause financial tyranny.
I tried to make a funny video out of it, but it's a bit morose...
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments