If you are like me, you’ve probably never even heard of Silicon Valley Bank (SVB) until this week. This short video below by Dan at iAllegedly and The Economic Ninja is a good explanation of why the SVB collapse is important and how it will have ripple effects out across the country.
We’ve known this collapse of the system was coming since 2008. It appears we’ve reached the tipping point. If you don’t understand what is going on, I again recommend watching the movie The Big Short. DISCLAIMER: The profanity is terrible and there is a strip club scene so it is rated R. What is happening today is not an exact match to what happened in 2008. However, it does a good job of explaining fraud and how things are manipulated. Just realize that things are exponentially worse now than they were in 2008. (Post continues after video)
I hope you also realize that variations of the discussion depicted below in Margin Call are taking place in all kinds of banks and industries all over the USA and world. NOT ONE OF THE PEOPLE HAVING THESE DISCUSSIONS CARES ABOUT YOU, YOUR MONEY, YOUR FAMILY, YOUR RETIREMENT, OR YOUR FUTURE. It is only about saving their own neck and their own money. You and I are on our own.
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