The banking situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,” It’s precisely at times like these that investors need to be on guard against the next certainty. First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 3.0
@@Rachadrian Sincerely it's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
Very true, people downplay advisors role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license advisors. Thankfully, I came across someone of practical knowledge, and decades of experience, my stagnant reserve of $325K has yielded nearly $1m after subsequent investments so far.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Very true, you can be passively involved in the markts and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
The advisor that guides me is 'Tenley Megan Amerson' , most likely the internet is where to find her basic info, just search her name. She's established.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
My CFA Vivian Jean Wilhelm, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
The disastrous decision to repeal the Glass-Steagall Act in the late 1990s led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent a future catastrophe, Dodd-Frank and this Act both need to be revived right away. What happened with SVB is just the start of what will happen if nothing is done to address the current problem.
I think SVB was attempting to restructure their bond holdings. Yes, they would lose money if they sold their low-yield bonds. However, they were attempting to make up for it by repurchasing bonds on the open market at the higher interest rate.
The SVB scenario warns that the effects of the Fed's rate hikes are still being felt, despite the economy's so far successful resilience. Investors need to be cautious about the upcoming inevitable in situations like these. I'll suggest hiring a financial advisor because you don't have to act on every forecast. For a time, I've been using this as my backup strategy.
Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
At this moment, things appear to be odd. Inflation is reducing the value of the US dollar, but it is strengthening in comparison to other currencies and commodities like real estate and gold. People are switching to the dollar because they believe it is safer. I worry that the rising cost of living may cause the value of my retirement savings to decline. We could put our cash anywhere else.
Having a mentor is my personal recommendation. It seems like a good bet if you have limited market knowledge, but I'm not sure where you'll find an experienced one.
I concur. In light of individual experience working with a financial adviser, I presently have over $1m in a very much enhanced portfolio that has encountered dramatic development. It's not just a matter of having money to invest in stocks. you also need to be knowledgeable, persistent, and have strong hands to support your investment
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
I've been purchasing stocks since the beginning of the year, but nothing has changed. However, I've been reading articles about people who are still in the same market who have made over $350,000 in just a few months. What am I doing incorrectly?
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
My CFA ’NICOLE ANASTASIA PLUMLEE’ a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Something really beautiful to see is that this time we didn't bail out the banks. We bailed out the bank's creditors which I think is the right thing to do.
Is it really a bad year for banks? Pretty sure JPM and HSBC were quite happy about the deals they made this year to buy up SVB and first republic… unlike credit Susie, those weren’t bad assets. They had liquidity issues which turned into solvency issue because of a mismatch of short and long term of assets and liabilities. To compare this with 2007-08 is completely absurd
@@Appox7 there's no space for leniency. Fear is a constant thing in the world and the markets. However one decides to use it, that's their bit. Money's hot anyway.
I'll vouch for this. I work in Risk, and have to remind myself that I get paid to be paranoid, but I don't need to be off the clock. I'm sure other professions have the same thing.
It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.
Agree; the rules should be applicable to all banks - big or small. First; very few meaningful laws are passed and then this cycle of doing-undoing seems to support deregulation risking the economy and the faith in banks.
I believe using an investing advisor is a terrific idea. In the midst of the 2008 financial crisis, I was literally experiencing horrible dreams before I spoke with an advisor. In conclusion, I was able to increase my initial investment from $320k to almost $2.5 million in 2011 with the aid of my advisor, and I later bought my first investment property.
Well, I've been researching advisors lately because the market news I've been seeing hasn't been that positive. Who is the individual who helped you, and is he or she still around?
Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My advisor, Amber Dawn Brummit told me this. She has witnessed a number of market cycles over the years and has some insight into how, why, and what will happen next.
About the current bank situation, I'm really concerned. I am worried about a lot more if a bank the size of SVB may fail. I have a friend who manages a fast-growing startup and was severely impacted by the bank run. I have taken more than $840k out of my bank. Since the FDIC only provides coverage up to $250K, an implosion could have negative consequences. presently want to invest in the stock market. Does anyone have any ideas on how I might proceed?
It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points
I concur. Drawing from personal experience collaborating with an investment advisor, I presently manage a $1 million well-diversified portfolio that has seen remarkable growth. It's not solely about having the funds to invest in stocks; one must also possess knowledge, persistence, and the resilience to withstand market fluctuations.
‘Miraculous that this wasn’t disastrous’, you can thank the FDIC for bailing depositors out and containing the domino effect. Consequently, ye olde national debt faces even more upward pressure. Had SVB, Signature and FR been located in any other country that cant issue its own bills, then there would have been an immediate contagion effect. In the US, this pain will be felt later on.
What's super amusing to me is that the very people who enthusiastically helped amplify the Twitter shitstorm that triggered the bank run on Credit Suisse were surprised by what happened next - The write-off of the bank's $17bn AT1 bonds.
@@84KtnM AT bonds were created after the GFC for this very situation. The bonds were rightfully written down, despite many threw a temper tantum for not reading the prospectus in the first place. It was a lot easier and comforting to blame the Swiss instead.
@@TrangLe-yb5sy Absolutely correct you are. I am just wondering, if AT1 bonds land up with banks who do not exercise due diligence while lending, such banks will conveniently write off bad loans, purely because of their ability to raise these bonds to fill up the hole created by reckless lending. So the ease allowed to banks in terms of raising money through AT1s is discomforting. Good tools in the wrong hands can be quiet dangerous.
@@84KtnM Thank you for elaborating your view, which helped clarify some points. I agree risk-management is generally weak and the bankers who give risky loans get fatty bonus as long as those risky bonds are repaid. However, when their AT1 bonds are written down that's synonymous with the bank is dead. In the case of CS the bonus associated with the AT1 bonds was wiped out while top executives were fired. Investors who buy and hold risky bonds such as the AT1 are usually big players. I think they won't allow themselves to be at the receiving end of the moral hazard easily.
@@TrangLe-yb5sy True. You r absolutely correct with regards to CS and AT1. And as far as big investors and their due diligence, is concerned I hope you stand corrected their too.
I think because it was a Swiss giant bank which was collapsed not an American one that prevented a global financial crisis. Swiss has highly, enoumorsly regulated banking system and a very keen eye on credit suisse already for many years. If it was an American bank of a size of CS was failed then that wouldn't have been pretty. CS took so many wrong turns in recent years but did so well over the past 160 years and was as loyal as possible to Swiss standards. That's why when its share prices plummeted, it didn't go under bust. It had correct asset/liability ratio, had necessary insurances and AT1 bonds and had solvency so and so fort.
Excellent interviewees, all of them! The takeaway here is that "4 or 5" unsupervised, well-suited individuals could have the hyperleveraged firepower to blow up our entire financial system. Post QE, we're still in an overliquidized market system where losing tens of billions of USD is merely a hiccup, but much more serious reform of not just the banking sector - rather, the concept of wealth - should be discussed in earnesty now.
Was a great buying oppertunity for financial stocks. I bought two financial related stocks and they're both up 50% providing never before seen dividend yields and added to some other existing positions like BlackStone due to the broader panic. At the end of the day, I was sure the plunge protection team from the Feds would save the day. Thank you Feds.
Banks are becoming less reliable than in the past. The looming banking crisis is expected to be significant and devastating for those who are not ready. I recently withdrew $370k from my bank to invest in bonds and stocks of companies with strong cash flows. I think it's a great opportunity to seize the market for long-term profits. Any suggestions for promising stocks would be welcomed.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I’m proud to work with Jessica Lee Horst, a highly esteemed and experienced CFA. Her impressive credentials and expertise make her a trusted authority in the financial industry. I highly recommend researching her and seeking her guidance for navigating the complex financial landscape. Her wealth of knowledge and expertise are invaluable assets to anyone seeking to make informed investment decisions.
Everytime interest rates are raised too much, a bubble bursts. And from them on a confidence crisis takes hold, freezing the money market and threatening a full domino effect, which only stops with Central Bank guarantees.
I still blame the FEDs for this, because in the end they benefit by either buying off the failed banks cheaper or something. The fed can print credit as long as someone will borrow it into existence, but they cannot print product (or production).
You're right ! Now that the market is in decline, I know what I want to do, but I'm not sure which stocks to buy, which investmnts would yield the best profits, etc. The potential gain is greater due to the risk, and professionals are better at negotiating such exact contracts. Right
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
I blame the banks being over-leveraged on bad assets. They got fat on easy money and when the easy money dried up, they were caught with their pants down.
I think a lot of people assume FT is news for rich people but I genuinely believe they are one of the best outlets for explaining how the world functions
We still have the failure of Binance to face since CZ pled guilty to money laundering and was found liable for billions in damages. FTX was a small operator.
I think the deal that was cut with CZ was aimed to keep Binance operating given its market dominance. If you want to protect crypto investors, purging bad actors from Binance while keeping its doors open is the regulatory sweet spot.
@@jdelarunz In the U.S., the FDIC was approved to backstop everyone’s deposits in the banking sector, which restored ppl’s confidence in banks. First Republic, however still went under, where they were seized Abby the FDIC and subsequently merged with a larger bank. This was REAL banking sector crisis which could have turned into a deflation, carrying off the banking sector in the U.S., not unlike 2008.
Good video, but no talk about why this actually happened in the first place. The cause of all of this - an extended period of easy money and low interest rates - was a direct result of the events of 2008. Which themselves were the result of another period of easy money, low interest rates, and debt accumulation. And here we are, with more of the same. We shouldn't be patting ourselves on the back.
Can anyone explain to me why the Eastern Washington bank that failed in August 2023 is not listed on the FDIC site of bank failures? I hear it was because of crypto that it failed.
I don't think it "failed". It was a tiny state chartered community bank that was being bought by a crypto connected company wanting to change it into a online bank with crypto. They had $50 million seized by the government because it was tied to a crypto company being investigated. The actual community banking business was sold to Eastern Oregon Bank. So technically it didn't fail. They had shady crypto funds seized and actual local Washington depositers now bank with the Oregon Bank.
It's only retail FDIC-insured deposits holding banks that fail that get listed on FDIC, and the purchasers bought Eastern Washington Bank, but then sold on the retail FDIC-insured deposit holding business to another bank. What's left is the Investment infrastructure and expertise, which isn't FDIC-insured. So Eastern Washington Bank didn't fail, but it was repurposed as purely a mini private investment bank. However, the existence of shady crypto investments being seized suggests it was purchased as a means of laundering those. And regulators shut it down.
@@tmzz3609 I read they changed their charter to allow investing in crypto, without approval and lost money. But It must be that it was so small and just traded hands very quickly. It should still be listed on the website otherwise the market is distorted.
- Analyze historical trends for potential risks in current financial environments (00:53). - Stay informed about regulations affecting mid-sized banks (03:23). - Monitor deposit outflows as indicators of a bank's health (04:48). - Scrutinize bank announcements for signs of financial instability (05:36). - Determine the safety nets and interconnectedness of your bank (13:33). - Consider the stability of non-banking financial sectors (14:23). - Assess the leverage and risk exposure of private funds (15:19). - Remain vigilant about regulatory changes and their implications (19:41).
regulation does not work if there is no accountability And as long as the FED keeps bailing out banks, it doesn't matter how much regulation there is. They keep on gambling...
I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 this month. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve.
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a professional
I wholeheartedly agree, which is why I choose to delegate my daily investment decisions to a coach. They specialized knowledge, research, and risk management skills make it challenging for them to underperform. They focus on utilizing risk for its asymmetrical potential while mitigating downsides. I've been with my investment coach for over two years and have earned over a quarter-million dollars.
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Carol Vivian Constable‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I gotta watch this today, tomorrow, on the 4th day and seventh day. How much data is that? "Grind to a halt" the music sounds like hip hop, and you guys are laying your lines. 🎉
It's quite simple why rates are climbing with rising imports and falling exports, the FED is obviously to be blamed for banking crisis. Something will eventually break if they keep the quantitative tightening and higher interest rates. Is this really a good time to have some savings in stocks?
first austerity, then brexit, now widespread bank failures. .always do your own research & speak to a license advisor before thinking about putting your money into these crazy markets
Exactly, most youtubers said the market would be fine few months back, but it's been a major downturn. Luckily, since the rona-outbreak in 2020, I've avoided the drawback of trial and error by simply following professional guidance. I'm semi-retd and work only 7.5 hours weekly, with nearly $1m ROI after subsequent investments to date.
Finding financial advisors like Sonya. Lee Mitchell who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Anyone can help me please understand why 10 year interest rate bonds in high interest rate environments face losses when compared to low interest rate environments... it was discussed at around 2:35... i think i understand it's related to long vs short term returns, but don't fully which parameter is in control here.
My response (I could be wrong) is that in a 10 YR bond, the get the same interest/fix interest for 10 years. While if market conditions change from year to another, you can obtain a higher bond yield investing one year at a time.
The storyline is a bit incorrect. The inflation started rising already in Summer 2021 well before Russian aggression of Ukraine. It was driven by pandemic related bottlenecks in supply chain which became more severe with the war.
19:29 not without consequence. The program initiated by the fed to support the sustem is more money printing. At some point the piper will be paid, and it probably won't be the banks, but the lower to middle class.
Meanwhile nobody is talking about the role the FED played in drastically increasing the rates (same Fed that reduced rates). Those bonds are said to be "risk-free"...
14:00 now NBFC take the share of Banks. But that is fine. If waste fellows are going to NBFCs to deposit money then it is upto them. I don't want risk. So I am happy that the shitty things are moved from banks to NBFCs
Businesses need Bank diversification. just like stocks. or pay for ICS/ CDARS accounts, which if you are making or have millions of dollars the bank will not charge you for it.
The FDIC only provides insurance for the first $250,000 after that you are screw. So, the best policy is when you hear rumors, just look for the door ASAP.
@@m0o0n0i0r It comes from an insurance fund all banks have to paid based on balance of their deposits and risks each institution has. On September 30 the DIF had 119.3bn USD, after taking a hit because of the insolvencies in the video. Also after those colapses FDIC modified the premiums so the rest of banks had to put more money into the fund. Only if the fund runs to the ground the government adds more money.
All Australian banks had huuuge profits in 2023. Tens of billions! A very good year if you owned enough shares in all these banks to have a seat at all their tables! Shareholders such as BLACKROCK, VANGUARD, STATESTREET, and their ‘cough’, subsidiaries! Nothing to see here. Especially when most of Australia’s biggest commercial ventures are ALSO OWNED by the very same investors. Approximately 10-20% shares of ALL the top money GOUGERS. How so much profit!? Easy, all your companies pay more for goods from all your companies. I call it COMPOUNDING THEFT.
Also İ m professional geographer too,İ worked all life and İ know very very little because life not frozen,everthings changes in moment as positive or negative immadiality.
I just don’t understand what is happening over at the FT anymore, you used to be a prestigious institution. You never provide any juicy insights, no insider story, you simply tell the public facts that any common pedestrian can find out. Why aren’t you doing hard journalism to figure out what is actually happening behind the scenes and then telling us that story? Instead you read us dry boring common knowledge. Great journalism is reporting facts, but facts which require deep networks, hard work, and grit.
It makes me laugh how they say that now you can just move your money with a few clicks or taps on your phone.. As though online banking did not exist in 2008. It did. If you honestly think a bank in trouble will let you do that then you are very naive, they will either set daily withdraw limits or lock them entirely. No doubt.
It's far more widespread today, and while online banking existed in 2008, smartphones barely did. People didn't have their bank in their pocket 100% of the time.
i had a super high fever in march when the bank crisis happend, So i thought hey lets buy some first republic stocks, Lesson learned never buy stocks when you have a high fever.
The banking situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,” It’s precisely at times like these that investors need to be on guard against the next certainty. First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 3.0
My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust.
@@Rachadrian Sincerely it's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
Very true, people downplay advisors role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license advisors. Thankfully, I came across someone of practical knowledge, and decades of experience, my stagnant reserve of $325K has yielded nearly $1m after subsequent investments so far.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems
Her name is “Annette Christine Conte ” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Very true, you can be passively involved in the markts and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
Mind if I ask you to recomend this particular coach you using their service?
The advisor that guides me is 'Tenley Megan Amerson' , most likely the internet is where to find her basic info, just search her name. She's established.
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
My CFA Vivian Jean Wilhelm, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
The disastrous decision to repeal the Glass-Steagall Act in the late 1990s led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent a future catastrophe, Dodd-Frank and this Act both need to be revived right away. What happened with SVB is just the start of what will happen if nothing is done to address the current problem.
I think SVB was attempting to restructure their bond holdings. Yes, they would lose money if they sold their low-yield bonds. However, they were attempting to make up for it by repurchasing bonds on the open market at the higher interest rate.
The SVB scenario warns that the effects of the Fed's rate hikes are still being felt, despite the economy's so far successful resilience. Investors need to be cautious about the upcoming inevitable in situations like these. I'll suggest hiring a financial advisor because you don't have to act on every forecast. For a time, I've been using this as my backup strategy.
Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please can you leave the info of your investment advisor here? I’m in dire need for one
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
At this moment, things appear to be odd. Inflation is reducing the value of the US dollar, but it is strengthening in comparison to other currencies and commodities like real estate and gold. People are switching to the dollar because they believe it is safer. I worry that the rising cost of living may cause the value of my retirement savings to decline. We could put our cash anywhere else.
Having a mentor is my personal recommendation. It seems like a good bet if you have limited market knowledge, but I'm not sure where you'll find an experienced one.
I concur. In light of individual experience working with a financial adviser, I presently have over $1m in a very much enhanced portfolio that has encountered dramatic development. It's not just a matter of having money to invest in stocks. you also need to be knowledgeable, persistent, and have strong hands to support your investment
Please who's this advisor that guides you?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
I've been purchasing stocks since the beginning of the year, but nothing has changed. However, I've been reading articles about people who are still in the same market who have made over $350,000 in just a few months. What am I doing incorrectly?
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diversify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
My CFA ’NICOLE ANASTASIA PLUMLEE’ a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Something really beautiful to see is that this time we didn't bail out the banks.
We bailed out the bank's creditors which I think is the right thing to do.
we didn't bail them out because we didn't need to, lol
Is it really a bad year for banks? Pretty sure JPM and HSBC were quite happy about the deals they made this year to buy up SVB and first republic… unlike credit Susie, those weren’t bad assets. They had liquidity issues which turned into solvency issue because of a mismatch of short and long term of assets and liabilities. To compare this with 2007-08 is completely absurd
Wasn't a bad year for UBS either having bought Credit Suisse at a colossal discount.
Lehman didn't have bad assets either.
Credit susie
'you have to stay paranoid to survive in this line of work'
Or to make money by making others scared
@@Appox7 there's no space for leniency. Fear is a constant thing in the world and the markets. However one decides to use it, that's their bit. Money's hot anyway.
I'll vouch for this. I work in Risk, and have to remind myself that I get paid to be paranoid, but I don't need to be off the clock. I'm sure other professions have the same thing.
Great content! I hope FT will have more video about shadow bank, it's a great topic to explore.
Thank for all your effort
It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.
Agree; the rules should be applicable to all banks - big or small. First; very few meaningful laws are passed and then this cycle of doing-undoing seems to support deregulation risking the economy and the faith in banks.
I believe using an investing advisor is a terrific idea. In the midst of the 2008 financial crisis, I was literally experiencing horrible dreams before I spoke with an advisor. In conclusion, I was able to increase my initial investment from $320k to almost $2.5 million in 2011 with the aid of my advisor, and I later bought my first investment property.
Well, I've been researching advisors lately because the market news I've been seeing hasn't been that positive. Who is the individual who helped you, and is he or she still around?
Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My advisor, Amber Dawn Brummit told me this. She has witnessed a number of market cycles over the years and has some insight into how, why, and what will happen next.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
About the current bank situation, I'm really concerned. I am worried about a lot more if a bank the size of SVB may fail. I have a friend who manages a fast-growing startup and was severely impacted by the bank run. I have taken more than $840k out of my bank. Since the FDIC only provides coverage up to $250K, an implosion could have negative consequences. presently want to invest in the stock market. Does anyone have any ideas on how I might proceed?
It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points
I concur. Drawing from personal experience collaborating with an investment advisor, I presently manage a $1 million well-diversified portfolio that has seen remarkable growth. It's not solely about having the funds to invest in stocks; one must also possess knowledge, persistence, and the resilience to withstand market fluctuations.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
‘Miraculous that this wasn’t disastrous’, you can thank the FDIC for bailing depositors out and containing the domino effect. Consequently, ye olde national debt faces even more upward pressure. Had SVB, Signature and FR been located in any other country that cant issue its own bills, then there would have been an immediate contagion effect. In the US, this pain will be felt later on.
What's super amusing to me is that the very people who enthusiastically helped amplify the Twitter shitstorm that triggered the bank run on Credit Suisse were surprised by what happened next - The write-off of the bank's $17bn AT1 bonds.
The sheer purpose of AT1 Bonds, as in the ease at which it can be written off reeks of moral hazard in the coming years. 🤞
@@84KtnM AT bonds were created after the GFC for this very situation. The bonds were rightfully written down, despite many threw a temper tantum for not reading the prospectus in the first place. It was a lot easier and comforting to blame the Swiss instead.
@@TrangLe-yb5sy Absolutely correct you are. I am just wondering, if AT1 bonds land up with banks who do not exercise due diligence while lending, such banks will conveniently write off bad loans, purely because of their ability to raise these bonds to fill up the hole created by reckless lending. So the ease allowed to banks in terms of raising money through AT1s is discomforting. Good tools in the wrong hands can be quiet dangerous.
@@84KtnM Thank you for elaborating your view, which helped clarify some points. I agree risk-management is generally weak and the bankers who give risky loans get fatty bonus as long as those risky bonds are repaid. However, when their AT1 bonds are written down that's synonymous with the bank is dead. In the case of CS the bonus associated with the AT1 bonds was wiped out while top executives were fired. Investors who buy and hold risky bonds such as the AT1 are usually big players. I think they won't allow themselves to be at the receiving end of the moral hazard easily.
@@TrangLe-yb5sy True. You r absolutely correct with regards to CS and AT1.
And as far as big investors and their due diligence, is concerned I hope you stand corrected their too.
I think because it was a Swiss giant bank which was collapsed not an American one that prevented a global financial crisis. Swiss has highly, enoumorsly regulated banking system and a very keen eye on credit suisse already for many years. If it was an American bank of a size of CS was failed then that wouldn't have been pretty. CS took so many wrong turns in recent years but did so well over the past 160 years and was as loyal as possible to Swiss standards. That's why when its share prices plummeted, it didn't go under bust. It had correct asset/liability ratio, had necessary insurances and AT1 bonds and had solvency so and so fort.
It's tightly regulated, yet still enormously corrupt. A side-product of Swiss neutrality.
@@Strykenine oh you're perfectly right. Part of it being regulated is to regulate the corruption as well
Excellent interviewees, all of them! The takeaway here is that "4 or 5" unsupervised, well-suited individuals could have the hyperleveraged firepower to blow up our entire financial system. Post QE, we're still in an overliquidized market system where losing tens of billions of USD is merely a hiccup, but much more serious reform of not just the banking sector - rather, the concept of wealth - should be discussed in earnesty now.
...and I just have to applaud Katie Martin for her exceptional clarity. Everything she says comes across. There's no deadweight or non-sense here.
Well said.
Have a good next year everybody
Was a great buying oppertunity for financial stocks. I bought two financial related stocks and they're both up 50% providing never before seen dividend yields and added to some other existing positions like BlackStone due to the broader panic. At the end of the day, I was sure the plunge protection team from the Feds would save the day. Thank you Feds.
Banks are becoming less reliable than in the past. The looming banking crisis is expected to be significant and devastating for those who are not ready. I recently withdrew $370k from my bank to invest in bonds and stocks of companies with strong cash flows. I think it's a great opportunity to seize the market for long-term profits. Any suggestions for promising stocks would be welcomed.
Hey , I don’t think here is the place to ask such questions, looking at your budget. You should consider a financial planner.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I’m proud to work with Jessica Lee Horst, a highly esteemed and experienced CFA. Her impressive credentials and expertise make her a trusted authority in the financial industry. I highly recommend researching her and seeking her guidance for navigating the complex financial landscape. Her wealth of knowledge and expertise are invaluable assets to anyone seeking to make informed investment decisions.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you.
Everytime interest rates are raised too much, a bubble bursts. And from them on a confidence crisis takes hold, freezing the money market and threatening a full domino effect, which only stops with Central Bank guarantees.
Nah everything fine
I still blame the FEDs for this, because in the end they benefit by either buying off the failed banks cheaper or something. The fed can print credit as long as someone will borrow it into existence, but they cannot print product (or production).
You're right ! Now that the market is in decline, I know what I want to do, but I'm not sure which stocks to buy, which investmnts would yield the best profits, etc. The potential gain is greater due to the risk, and professionals are better at negotiating such exact contracts. Right
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
I blame the banks being over-leveraged on bad assets. They got fat on easy money and when the easy money dried up, they were caught with their pants down.
You blame the Fed for management failures?
Amazingly, I have a non-financial background and learned a great deal of practical financial, economics knowledge, use cases, and more from the FT.
I think a lot of people assume FT is news for rich people but I genuinely believe they are one of the best outlets for explaining how the world functions
Yeah just blame everything on Russia not the unlimited printing that the United States government has done 3:02
The world is in a serious economic crisis for months, but for some reason no one has the courage to call things by its own name.
Great documentary.
Great video guys 👍
Marvelous video!
We still have the failure of Binance to face since CZ pled guilty to money laundering and was found liable for billions in damages. FTX was a small operator.
The silver lining is FTX depositors will get 100% of their deposits back.
I think the deal that was cut with CZ was aimed to keep Binance operating given its market dominance. If you want to protect crypto investors, purging bad actors from Binance while keeping its doors open is the regulatory sweet spot.
@@jdelarunz In the U.S., the FDIC was approved to backstop everyone’s deposits in the banking sector, which restored ppl’s confidence in banks. First Republic, however still went under, where they were seized Abby the FDIC and subsequently merged with a larger bank. This was REAL banking sector crisis which could have turned into a deflation, carrying off the banking sector in the U.S., not unlike 2008.
HSBC is guilty of ML, when are they going to fail?
CZ has bigger friends like biden
Wait until March when banks have to disclose how much unrealized loses they have on their books.
Bless 🙏good info.
Good video, but no talk about why this actually happened in the first place. The cause of all of this - an extended period of easy money and low interest rates - was a direct result of the events of 2008. Which themselves were the result of another period of easy money, low interest rates, and debt accumulation. And here we are, with more of the same. We shouldn't be patting ourselves on the back.
Not watched the video, just popped in to say the old saying....15 year cycle! Because yet again, it fits!
then wondering about the Kondratiev technological cycles ... 15, 30, 45, 60
Can anyone explain to me why the Eastern Washington bank that failed in August 2023 is not listed on the FDIC site of bank failures? I hear it was because of crypto that it failed.
I don't think it "failed". It was a tiny state chartered community bank that was being bought by a crypto connected company wanting to change it into a online bank with crypto. They had $50 million seized by the government because it was tied to a crypto company being investigated. The actual community banking business was sold to Eastern Oregon Bank. So technically it didn't fail. They had shady crypto funds seized and actual local Washington depositers now bank with the Oregon Bank.
It's only retail FDIC-insured deposits holding banks that fail that get listed on FDIC, and the purchasers bought Eastern Washington Bank, but then sold on the retail FDIC-insured deposit holding business to another bank. What's left is the Investment infrastructure and expertise, which isn't FDIC-insured. So Eastern Washington Bank didn't fail, but it was repurposed as purely a mini private investment bank. However, the existence of shady crypto investments being seized suggests it was purchased as a means of laundering those. And regulators shut it down.
@@tmzz3609 I read they changed their charter to allow investing in crypto, without approval and lost money. But It must be that it was so small and just traded hands very quickly. It should still be listed on the website otherwise the market is distorted.
- Analyze historical trends for potential risks in current financial environments (00:53).
- Stay informed about regulations affecting mid-sized banks (03:23).
- Monitor deposit outflows as indicators of a bank's health (04:48).
- Scrutinize bank announcements for signs of financial instability (05:36).
- Determine the safety nets and interconnectedness of your bank (13:33).
- Consider the stability of non-banking financial sectors (14:23).
- Assess the leverage and risk exposure of private funds (15:19).
- Remain vigilant about regulatory changes and their implications (19:41).
regulation does not work if there is no accountability
And as long as the FED keeps bailing out banks, it doesn't matter how much regulation there is. They keep on gambling...
Thank you, FT!
I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 this month. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve.
Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a professional
I wholeheartedly agree, which is why I choose to delegate my daily investment decisions to a coach. They specialized knowledge, research, and risk management skills make it challenging for them to underperform. They focus on utilizing risk for its asymmetrical potential while mitigating downsides. I've been with my investment coach for over two years and have earned over a quarter-million dollars.
Do you mind sharing info on the adviser who assisted you? I'm 49 now and would love to grow my stock portfolio and plan my retirement
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Carol Vivian Constable‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
This was going to happen, I hardly blame the banks for a bank run
Your strategies really works! You are the best trader ever
Fantastic documentary!
The FDIC backing those above the limit will go down as one of the worst decisions ever made in the history of banking.
blaming ukraine war for high inflation is the laziest journalism
Unlike 2008, we're not saving the whole system. Some are dying, too bad for them.
reminded me of what Edward Chancellor and Hyman Minsky said before stability creates instability!
ITS CAUSE they know if they fail they get a bailout.....and no personal liability...its not their own $
I gotta watch this today, tomorrow, on the 4th day and seventh day. How much data is that? "Grind to a halt" the music sounds like hip hop, and you guys are laying your lines. 🎉
It's quite simple why rates are climbing with rising imports and falling exports, the FED is obviously to be blamed for banking crisis. Something will eventually break if they keep the quantitative tightening and higher interest rates. Is this really a good time to have some savings in stocks?
first austerity, then brexit, now widespread bank failures. .always do your own research & speak to a license advisor before thinking about putting your money into these crazy markets
Exactly, most youtubers said the market would be fine few months back, but it's been a major downturn. Luckily, since the rona-outbreak in 2020, I've avoided the drawback of trial and error by simply following professional guidance. I'm semi-retd and work only 7.5 hours weekly, with nearly $1m ROI after subsequent investments to date.
this is incredible! how can I vet your advisor, mind sharing info, if you please?
Finding financial advisors like Sonya. Lee Mitchell who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Key question is not why rather how they survive through the chaos
Worst year for banking until 2024
Great content. AT1 bonds in future could become moral hazard. God knows what else eludes us. Only time will tell.
Regulations after 2008 dont do much. Most arent followed.
Great video
Anyone can help me please understand why 10 year interest rate bonds in high interest rate environments face losses when compared to low interest rate environments... it was discussed at around 2:35... i think i understand it's related to long vs short term returns, but don't fully which parameter is in control here.
My response (I could be wrong) is that in a 10 YR bond, the get the same interest/fix interest for 10 years. While if market conditions change from year to another, you can obtain a higher bond yield investing one year at a time.
interesting, thanks
Good video!
The storyline is a bit incorrect. The inflation started rising already in Summer 2021 well before Russian aggression of Ukraine. It was driven by pandemic related bottlenecks in supply chain which became more severe with the war.
19:29 not without consequence. The program initiated by the fed to support the sustem is more money printing. At some point the piper will be paid, and it probably won't be the banks, but the lower to middle class.
What type of capital funds?
I don't know the slightest thing about the financial sector, but common sense tells me this is not over.
Rich people are so excited and smiling ecstatic during catastrophic events hehe.
2008 was the year banks unlocked access to taxpayer money and subsidies greater then all other industries combined...
Could not agreed more with this statement.
This was not bad year for banks, it was bad year for tax payers that need to step in for banks.
0:24 - Former UK Home Secretary Sajid Javid was also in the queue outside Silicon Valley Bank?
You should look at the sec's enforcement action against ripple labs and the conflict of interests (ethgate)
Meanwhile nobody is talking about the role the FED played in drastically increasing the rates (same Fed that reduced rates). Those bonds are said to be "risk-free"...
14:00 now NBFC take the share of Banks. But that is fine. If waste fellows are going to NBFCs to deposit money then it is upto them.
I don't want risk. So I am happy that the shitty things are moved from banks to NBFCs
sometimes i get confused between SVB and SBF
Why are people from England part of your video about a bank in California? Weird. Strange. Alarming.
Today there's not liquity in global financial markets¡¡
yes very sad. nobody could have foreseen this.
🎉🕊️ Happy birthday celebration for everyone in dio 🎉
You guys talking about bank failures in 2023? 2024 is the right year to talk about that 😅
Need 4k
Leave Credit Suisse alone.
They played the game and lost this time...no harm no foul.
The American people took charge. They are the fools.
the worst year yet 😊😉
is this supposed to clear us up?
The only thing this regualtor is stop selling debt to people its daft
Why I prefer to owe money to banks than keep it there, it doesnt take long for them to collapse. Keep your money in assets!
But don't allow students loans forgiveness to proceed
Fifa World Cup was in 2022!
Didn't most of the banks get bailouts 2008?
8:19 there you go
Yes, the fed purchased the damaged assets from the banks. Then the fed sold it back for profit once economy recovered couple years later
Nah. Stonks up, home prices up, EVERYTHING up. Nothing bad
Businesses need Bank diversification. just like stocks. or pay for ICS/ CDARS accounts, which if you are making or have millions of dollars the bank will not charge you for it.
The FDIC only provides insurance for the first $250,000 after that you are screw. So, the best policy is when you hear rumors, just look for the door ASAP.
You can also deposit your money at multiple banks to reduce risk.
Where does that 250k usd come from? I feel the printer is just warming up
@@m0o0n0i0r It comes from an insurance fund all banks have to paid based on balance of their deposits and risks each institution has. On September 30 the DIF had 119.3bn USD, after taking a hit because of the insolvencies in the video. Also after those colapses FDIC modified the premiums so the rest of banks had to put more money into the fund.
Only if the fund runs to the ground the government adds more money.
@@guill90 this is more easy and worth
Audio was a little low on my phone.
Dude Im a bachelor degree student in banking and financial technology !!
Better get a CS, a Software engineering or a physics degree if you want to work for fintech.
@@elbertmkizy7086or a financial engineering degree or computational finance degree
Greatttt
All Australian banks had huuuge profits in 2023. Tens of billions! A very good year if you owned enough shares in all these banks to have a seat at all their tables! Shareholders such as BLACKROCK, VANGUARD, STATESTREET, and their ‘cough’, subsidiaries! Nothing to see here. Especially when most of Australia’s biggest commercial ventures are ALSO OWNED by the very same investors. Approximately 10-20% shares of ALL the top money GOUGERS. How so much profit!? Easy, all your companies pay more for goods from all your companies. I call it COMPOUNDING THEFT.
Чувак. ну ты даешь) офигенные победы просто из ниоткуда) красава!
Good thing there isnt a giant mess spreading its tentacles....
Also İ m professional geographer too,İ worked all life and İ know very very little because life not frozen,everthings changes in moment as positive or negative immadiality.
I just don’t understand what is happening over at the FT anymore, you used to be a prestigious institution. You never provide any juicy insights, no insider story, you simply tell the public facts that any common pedestrian can find out. Why aren’t you doing hard journalism to figure out what is actually happening behind the scenes and then telling us that story? Instead you read us dry boring common knowledge. Great journalism is reporting facts, but facts which require deep networks, hard work, and grit.
As soon as I heard "its russias fault interest rates rose from 0%", you lost me
_Beforepay._
This information is very specific.
Sharing will save the world.
It makes me laugh how they say that now you can just move your money with a few clicks or taps on your phone.. As though online banking did not exist in 2008. It did. If you honestly think a bank in trouble will let you do that then you are very naive, they will either set daily withdraw limits or lock them entirely. No doubt.
It's far more widespread today, and while online banking existed in 2008, smartphones barely did. People didn't have their bank in their pocket 100% of the time.
Buy silver and gold. This ponzi one day will collapse.
i had a super high fever in march when the bank crisis happend, So i thought hey lets buy some first republic stocks, Lesson learned never buy stocks when you have a high fever.
It's like playing with box of matches right next to tank full of gasoline didn't led to disaster THIS TIME...😄
That's why China won't let people withdraw money from their accounts 😂