There are now reports in the corporate media describing how half of American banks are either insolvent or close to insolvent.
RT:
Almost half of the 4,800 banks in the US are nearly insolvent, as they have burned through their capital buffers, The Telegraph reported earlier this week, citing a group of banking experts.
According to Professor Amit Seru, a banking expert at Stanford University, around half of US lenders are underwater.
“Let’s not pretend that this is just about Silicon Valley Bank and First Republic,” he said. “A lot of the US banking system is potentially insolvent.”
This is probably true but it is likely even worse than they are reporting.
There are all sorts of problems with the banking system. Rising interest rates and over exposure to government bonds is one, but another is their exposure to commercial real estate.
The virus hoax resulted in numerous companies abandoning office spaces and having the majority of their people work remotely. So now you have an abundance of office spaces with no occupants. This means landlords can’t pay the mortgages on the properties to the bank.
The banking system is like a stack of dominos that is falling one by one.
