Why 3 US banks collapsed in 1 week: Economist Michael Hudson explains
Geopolitical Economy Report
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Cryptocurrency - The Mythology and Fantasy
Michael Wolraich: Silicon Valley Bank, Silvergate and Signature Bank have all collapsed. He says the collapse of these banks comes in the wake of a disastrous collapse in big parts of the cryptocurrency industry. The money that goes into crypto ends up in the very banks or government securities it's supposed to be an escape from, he says. "Crypto was a vast money laundering operation wrapped in an idealization," writes Wolraich.
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