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THE CRASH OF 1929- think BANKS think CRYPTO know CRASH- PBS Documentary
Once again we find ourselves on shaky ground just this past Month with the collapse of US banks, SVB and the San Francisco-based First Republic. Similar to the actions of the wealthy Wall Street brokers of 1929, the US government has decided to intervene, arranging a line of credit funded by 11 of the country's largest lenders and investment banks. As depositors rush to withdraw money from smaller banks and turn to larger, more stable institutions, the money is being recycled. It's not a half bad plan and might mitigate a disaster. But the trade off is sacrificing the free market system in favor of making banks an oligopoly.
On March 8th, 2023, Silvergate Bank (a crypto bank located in San Diego) announced that it was winding down operations and liquidating — the conclusion of a downward trend that had begun with the FTX Crypto Crash in late 2022, which created a sense of unease in the cryptocurrency and tech community in regards to their banks.
When Silicon Valley Bank (SVB) began to sell off assets to increase its cash flow, it was reported that the company was in dire straits, leading to a run on the bank on March 9th. This bank run subsequently caused SVB to collapse as this led to the stock price of the bank losing over 60 percent of its value before California regulators halted operations on March 10th.
Juan has talked about Crypto as being the Deep State option for creating CASH as way to spread disease. The border being breached and the WADS of CASH being given to these disease ridden ILLEGALS coming in can be spread throughout the system. BE AWARE. The solution of moving to CRYPTO will mean the END of our Freedom of transactions in CASH. If you don't learn history you are DOOMED to repeat it. https://rumble.com/v2d7hlm-juan-o-savin-the-financial-debate-the-social-media-ai-3-14-2023.html
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