Bob Michele (JP Morgan's CIO) on Bloomberg this morning talking about the Fed's emergency BTFP interventions & the liquidity crisis in banks.
He also specifically mentioned Truist Bank 😬
Truist Bank has over $500 billion in assets & could be on the verge of failure along with Charles Schwab
(twitter.com)
💥 BANK COLLAPSE 💥
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I agree. And it's not just wishful thinking. It's based on logic. Imagine a plan where everyone who didn't stack PMs go to zero. That's so ridiculous.
Value is dependent on what human society overall deem valuable. If the currency isn't deemed valuable internationally, it won't be as valuable as American Dollars right now.
This could happen but
being dependent on this outcome gives you an excuse to take less responsibilities over your finances which is not good. Don't put yourself in a situation where you can adopt a victim mentality.
This isn't free market Capitalism, this would be Socialism. If you want the freedom, you must ultimately take responsibility for yourself and your finances.
Right now, there is a way for you take responsibility for your finances that prepare you for the days ahead and you don't have to depend on anyone else but yourself. You can take money out of your retirement account and invest in Silver/Gold, Crypto, and resources that will be in-demand during these hard times (bullets, food, medical supplies, garden, prepper stuff, etc.)