Are Bank Failures the End of Capitalism

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The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be?

In this video, Mr Henderson shares his thoughts on bank failures and the end of Capitalism.

00:00 Start
0:18 Bank Failure
1:00 What Treasury Secretary Said
5:24 What Does it Mean?
10:10 Countries With the Best Bank Systems

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[Karl__Pierre]

Just another reshuffle. You have to invest in true human needs. Housing, food supply, healthcare, energy, transport. Hedges against inflation and pays as you hold.

[UtubeAW]

We saw this recently when big corps were allowed to operate while small businesses were destroyed, thus eliminating competition. Same pattern now at work now in banking.

[xavierboom]

I look forward to your videos. As usual, on time at 8:00am. Appreciate your consistency.

[TheMichaelMove]

Diversification is certainly a good thing but when I hear about countries that have three or four banks IN THE WHOLE COUNTRY I get very nervous. That only happens with an extreme amount of government control of the entire sector making any crisis systemic by definition.

[rubensnogueira]

Lucky me, I moved half my money from SVB to Credit Suisse. Diversification is key!

[waltneitzel]

Always informative videos Andrew. Years ago my wife who was Japanese living in the U.S. had money in a Japanese bank. Every year when I filed our taxes (jointly) I had to report her Japanese bank account. and interest that she made on it, as it was an interest bearing account. I eventually got tired of it, and had her close out the account. I thought later that might have been a bad idea, but more recently the Yen hasn't been doing that well, so maybe it wasn't such a bad idea after all. It might be good to have foreign bank accounts but not in countries with currency fluctuations. You are right. Choose your foreign banks carefully. I may eventually open a debit account in a Philippines bank, but it will only be for monthly expenses, while I am over there, and even though the Philippines Peso does have some ups and downs, the account will be more for convenience and not large. In the U.S. I use the biggest credit union in my state and JP Morgan Chase.

[tiagofilipe]

If there aren't clear rules it will be arbitrary as we've seen. Those who have the right political connections will be bailed out, the others not so much. We're really passing through a bad age in the west. Regretable.

[gosmarte]

The Dutch banking system is state controlled. Try to open an account. My brother started a new business and it took months to get an account opened due to government scrutiny and regulations.

[billyakin]

The "End of Capitalism" is like saying the "End of Greed and Selfishness"....ain't gonna happen.😂

[mikesell]

Or, the beginning of Capitalism?

If the “too big too fail” finally becomes a fallacy, then having businesses fail or succeed on merit would be a capitalist renaissance

[johito]

On the contrary, that is what greedy capitalism is all about it. The history is always the same, some bank go away others banks become bigger.

[Dis_is_fine]

I’ll never understand how in the US there are like a million banks operating at the same time. Here in Canada is like… 10 tops?

[mutantryeff]

The 'C' in 'FDIC' is for Corporation. As such, can they file for bankruptcy?

[marcorasool]

Mr Andrew
Do u think this USA bank failure wl effect other banks FD in GCC??

[HexAlchemist]

10:00 That's exactly what I did, thanks to your sound advice.

[YasukeNakamoto]

2 quadrillion dollar derivates market. . . Remember that ppl

[sc]

No. Not by a long shot. There will always be people that will succeed. We do not need banks.

[autonestegg]

Canada actually has five very large banks CIBC Scotiabank TD Royal and Bank of Montreal

[peterchirico]

Your idea of letting people buy there own insurance makes a lot of sense. Whether it is anything above the existing limits or in total,
it would put the responsibility where it belongs. It's our money despite what the government thinks we should have a right to do so. Guess the idiots in government either can not think or want to be the ones in control of everything and everybody.

[Danell]

When you walk into a bank of a country you have traveled to, what do you use as an address for that account?
(I'm assuming you dont own a property in every country you test opening bank accounts in.)