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Is Silicon Valley Bank a Cannery in the Coal Mine?
Is Silicon Valley bank the first signs that money growth is no longer supporting credit? If we look at various broad money measures and now I am at risk of increasing your blood pressure but whenever in the US money growth is now negative year-on-year that happens very rarely it happens occasionally if we look at say decades of time series data. Usually when we have a negative growth of money no matter how you measure money it is typically correlating to larger risks of financial stress, says John MacIntosh.