The Brewing US Bank Crisis

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In today's video, we delve into the concerning landscape of the US banking system, examining recent events and highlighting potential risks for investors. With significant bank failures making headlines, it's essential to understand the implications and explore strategies for safeguarding your finances.

00:00 Start
00:50 Recent US Bank Failures
1:39 Banks in the United States vs. Singapore
3:10 Diversifying Internationally
5:58 Practical Steps for Protecting Your Assets
8:53 Concerns Over FDIC Insured Limits
11:37 Benefits of Banks Overseas

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[jamespatrick]

honestly, i feel The distress for banks is a farce, what we have experienced past 2 years is a result of a system that has worked incredibly well. Fed just had to tighten credit to cool economy.

[Carolinapetroska]

Same in Canada. I asked to withdraw 5000 cad and they adked me why ? That's scary. Above 10 000 cad everything becomes a red flag. The banks have to file a report. Another scariest thing is that one major Canadian bank wasn't able to do an international wire transfer, so I never received my money and I had to complain otherwise, years later, I still would have no clue where my money was ? Incompetence or voluntary so customers would not be able to take large sums of money out of Canada ? But why leave it there ? There is nothing in Canada and with the ban on foreign buyers, you cannot even purchase a property. Then Canada complains, there is no international investments anymore. Lol. Are they stupid or what ? They have created their own problems. Mean and incompetent politicians over there with Trudeau at the head, followed closely by the witch Freeland!!!

[bLucky]

Daughter went to school in Switzerland about 12 years ago, just as US puts pressure for all countries(allies)to report any US residents opening account in their it was a challenging experience for my daughter as these banks would submitted to US demand, however they all tended not want an American client cause of all the rules imposed on them.. It's the same in some Asian countries, they rather deal with other citizens than US citizens. Dealing with us just comes with too many caveats😬

[saigonexile]

My wife and I have had money in DBS Singapore for about 9 years now. Perfectly happy.

[majortom]

I moved my money to four different countries between 1990 and 2014. Currently I have only 8% of my money in the USA. Why do I feel more secure? Why shouldn't I?

[KenKalEl]

Andrew, what are your thoughts on American credit unions? Also, what should a person with a small amount of money do?

[delta-gg]

Can you share the list of the best banks? Or tell us where to find it?

[jamalgreen]

I believe we all need to be aware of where we hold our money weather if it’s $100 or $10 million dollars.The number one thing of how you know a banking system is weak is when the minimum deposit to open up an account is low and that the fdic insures money only up to $250, 000.Which tells me most people in the USA doesn’t have a lot of capital and a country that doesn’t have people a lot of capital the banks within that country will be weaker.

[havencat]

I keep most of my in HK. same as SG, super safe and well maintained banks

[ChristineSpringerElaine]

This is a very good video. Thanks, Andrew!

[spsmith]

Very important omission in this video: There are banking services that will take your $10MM and distribute it automatically to multiple banks to insure that you do not cross the insured limit at any one bank. As you did say, it's also easy to have multiple accounts. I currently have 6, all in the US (the safest country in the world IMO).

[riverraven]

As a British retail investor my outlook has to be global, look for opportunity wherever it arises.

[CasperHanma]

May I get the link to the list of these banks please.

[freerange]

In the past banks were giving fixed rate mortgages at around 2%. Now with inflation around 17% Mortgages over 5%.How do these banks stay in business?

[holodeckdragon]

thnx for sharing your expertise and passion!

[freefruitsandvegies]

Your my favorite YouTuber bud!!! I have 100k in cash, 400k in portable decentralized art and collectables and $400k in other related like my business value, pension value, trusts, etc. I have over fifteen safe deposit boxes all over the world. I sleep in the many offices I have. Pay no bills at all. Anything I do spend, it’s on business. You have motivated me. Soon I will be setting up an office in Moldova and Latvia. I plan to marry a young lady in Moldova and get citizenship there. I plan on setting up corporations in those two countries as well to start the residency process there also.

[keepdreaming]

The problem with doing that is most banks nowadays are looking for the whole relationship. So if you have part of a relationship at one institution, they will not lend you money and these real estate deals that you talk about they’re not buying for 100% cash they are leveraging their money and they need bank debt. so if you don’t keep all of your money in a bank lender that is actively lending and real estate in the type of real estate that you want and lending to people like you the investor you will have a hard time taking advantage of good opportunities. Diversification into different banks is not always a good thing. We could always talk about that more. I’m an expert in this field.

[josephroberts]

If you have that much money, keep it in one of the top 5 big banks in the U.S.- Citi, Wells Fargo, US Bank, JP Morgan or Bank of America. They are not going bankrupt.

[MichelePonte]

It truly seems that Bitcoin is the solution

[Lyokou]

Most of my sideline cash is in US bonds, not banks. Not FDIC or other insurance needed. No counter party risk outside the US government. Only way I lose it is US default and if that happens we got bigger problems.