Terrorist Fed Wipes out Banks as Cryptocollapse Flushes Through the System
It’s contagion all over the place already. So many are asking if the wipeout of two banks, including the nation’s 16th-largest, is a sign of contagion that the worries have caused US Treasurer Janet Yellen to assure the nation again and again that the banks are more solid than ever and that the Treasury and the Fed and the FDIC are working to make sure there will be no contagion from the crashes into insolvency that sprang up last week.
The more they say they are working to make sure there won’t be any contagion, the more you know there will be. The fact is there is already contagion and lots of it. That is what brought both Silvergate and Silicone Valley Bank (SVB) down — contagion from last Summer’s Cryptocrisis when many financial writers assured us there would be no contagion.
You cannot necessarily see the fall of any one part coming in an event like this, but you can certainly see coming the fact that many parts will be falling. That’s how it was was with Silvergate directly from the Cryptocollapse and then with Silicone Valley Bank, as the leader of a larger-scale banking collapse where crypto also played a major role because many of SVB’s big clients were crypto companies.
While the financial media and the Fed heads and the treasurer all assured us there would be no contagion from the Cryptocrisis last summer, which continues into the present, I began pointing out warnings to the contrary. So, before I get in to explaining crypto’s role in the SVB collapse last week, let’s go back over what, in fact, could b
Article from LewRockwell
