FINANCIAL CONTAGION: Silicon Valley Bank Collapse and USDC Drop Just The Beginning of the Financial Collapse

Mar 13, 2023

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Banks!

Uh…Ah.

What are they good for?

ABSOLUTELY NOTHING

ADSC lesson that people just don’t seem to learn. No matter how often history repeats itself, or how many times Ed Bugos and I issue warnings of imminent financial collapse, chaos, and banking system failures.

Let’s see.

1929: On Black Monday, October 28, 1929, the Dow declined nearly 13 percent. On the following day, Black Tuesday, the market dropped nearly 12 percent. By mid-November, the Dow had lost almost half of its value.

1987: Black Monday is also the name commonly given to the global, sudden, severe, and largely unexpected stock market crash on October 19, 1987.

2022: On Black Monday, June 13, 2022, U.S. stocks tumbled at the opening bell Monday as the economy continued to reel from a lousy inflation report and the Federal Reserve plots rate hikes, sparking fears of a recession.

2023: Today, on Monday, March 13, 2023, we are looking at how a bank made $200-billion disappear in about 24 hours – making it the second-largest bank failure in US history.

To date.

I am, of course, talking about this weekend’s abortion at Silicon Valley Bank (SVB), when as aptly described by ZeroHedge, “venture capitalists and others with inside knowledge panicked and withdrew a staggering $42 billion in deposits before SVB's collapse, an old-fashioned bank run reminiscent of the one in the classic 1946 film “It's a Wonderful Life” has ensued, involving ordinary people”.

Here are Jeff’s Top 2 Tips For Surviving Level 23 of “Endgame – The Final Frontier”:

You can go to the bank any day before they collapse and get your money out.
Standing in massive queues trying to fix post-collapse bank run damage is about as useful as Hitler in a Russian winter.

It’s not even real money, ffs.

It’s a worthless IOU on paper.

I. Owe. You. Nothing!

And, it’s all just begun.

In today’s show, we get into

Why everything woke goes broke
When banks disappear… and your money with it
Jim Cramer’s famous last words
Bank bail-out or blow-out contagion
Jeff’s USDC stablecoin test case – use it, don’t use it.

And most importantly, making money out of the apocalypse and having fun while doing it.

The post FINANCIAL CONTAGION: Silicon Valley Bank Collapse and USDC Drop Just The Beginning of the Financial Collapse appeared first on The Dollar Vigilante.