The Bank Crisis is Just Warming Up – So Are Gold and Silver

April 12, 2023

The banking crisis is just starting. The implosion of the fraud-riddled FTX and the counterparty collateral damage that occurred was an early warning sign. But it is a glimpse of the malinvestment, accompanied by fraud and corruption, enabled by the nearly $9 trillion printed by the Fed since 2008. SVB and Signature were indicators that the force behind the nascent bank crisis has put the ball and play and is safe at first. While the Central Banks can try to stamp out lit fuses as they appear, it will prove to be a failed game of whack-a-mole. The Fed knew Lehman was going to collapse but it had no idea that Goldman and AIG would impale themselves on credit default swaps until the explosion occurred.