Fed caused the collapse. The banksbond holdings were underwater because the fast rising fed rate hike. Big investors saw the tea leaves and started to divest. That’s all it took.
Expect more of this too come. Fed may be forced to cut rates to stave off more failures.
Yep. Powell testified on Friday there were ‘other banks’ they were watching.
This is just the beginning.
With gold money, interest rates always would yield a positive return or the gold money would not be lent out.
When I was young passbook savings was 3%.
Banks were paying .1 to .4% after madrasa educated Obama came into office. The Prophet would have used silver or gold money and a sack of gold coins would buy about the same number of sheep each and every year.
The dollar is not gold. It loses value every time I walk into a Walmart. The faster it loses value, the higher interest rates should be to prevent people with dollar holdings losing buying power.