Another Major Bank Failure

Peter Schiff discusses the Jerome Powell, FOMC, interest rates, and the banking and financial crisis. One America News Network's Real America with Dan Ball. Recorded 5/3/2023

#economy #banks #inflation

[Natalieneptune]

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. In-flation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.. Lloyd Bernard

[shellylofgren]

What happened to SVB is really scary, and goes to show that no corporation, however big, is immune to collapse. I have always had a deep-seated mistrust for corporations. I have plans to pull out most of my money, but don't know what to do with $350k sitting idly. I'd like to go into the stock market, maybe. Any ideas?

[ClementRusso]

The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.

[ambertraceyy]

Once again, Peter Schiff is telling the truth, and his argument is based on simple, common sense economics. He is about to embark on a decade-long marathon of celebrations. This is just another reminder to enhance our financial vigilance and readiness!

[CramrMKE]

Perhaps FDIC, should be used for what it was originally designed to do: protect depositors and not the banks themselves.

[Hermanjackson]

Global financial markets have been significantly impacted by SVB's demise, prompting investors to sell off bank equities hastily and reevaluate their interest rate expectations.

[PassportBrosBusinessClass]

All we are doing is moving debt around in circles anyway. Collapse was inevitable.

[themountain]

Peter Schiff is going to be on a continuous victory lap in the rest of the decade 😅

[johnlennon]

Global financial markets have been significantly impacted by SVB's demise, prompting investors to sell off bank equities hastily and reevaluate their interest rate expectations. I am a $350, 000 investor who is at a crossroads and wondering if it is wise to hold onto securities that are losing value. I want guidance on the best approaches to maximizing my returns in this negative market.

[ameb]

If there is no FDIC insurance EVERYONE will pull their money out of EVERY bank not just local banks.

[alicemendoza]

I'm quite concerned about the state of the banks right now. If a bank the size of SVB were to fail, my concerns would be much greater. My friend, who oversees a quickly expanding startup, was negatively impacted by the bank run. I've withdrawn more than $840, 000 from my bank. An implosion could have detrimental effects because the FDIC only offers coverage up to $250, 000. Currently, I desire to make stock market investments. Does anyone have suggestions about how I might move forward?

[jenna]

I wouldn't trust the banks to show us their books and to be honest with our money and their investments.

[NowTrendingNow]

It's an honor to have you as a follower. Thank you for your encouragement.

[tomjones]

Thank you, Peter...for being the voice of sanity.

[austinthefinancecoach]

Thank you Peter. This last interest rate hike didn't make sense. It felt like they made this plan a while ago and wanted to stick to it no matter what. But this is going to cost us and Hoover reports 50% of banks could be insolvent.

[opheliamyall]

This was exactly what l was skeptical about, hence the reason l decided to use most of my savings to build my home and get out of rent. My landlord told me to get out if l ever find myself unable to pay the month rent. She said get out without notice. I had my land that was already paid for so l just decided to just use it and build my home. I am happy l made that decision. Now l am hopefully moving out any minute now

[brads]

you're dreaming if you think the average person is going to spend time looking into bank balance sheets.

[AdamIsAngel]

Peter Schiff speaking the truth once again, and it's just clear and honest common sense economics.

[philliphandrson]

the official Bybit DEX is bugged, when you swap you get almost 10x
I posted a vid to show

[roywest]

I would have it so the banks managers would be held accountable for any loss. Government are to blame for the decline of America.