The Banking Sector In Trouble Once Again

bitcoinflood in #hive-167922 • last year

Blue Simple General greeting Independence Day Twitter Post 31.jpg

The Banking Sector In Trouble Once Again

Many said we wouldn't ever see a repeat of the 2008 crash of banks and how tax payers had to bail them out. Mistakes they made accounted for everyone having to pay for it. New laws were drafted up, new regulations etc were placed on banks. But you know what happened?

During the boom and rally those regulations and restrictions became loss and once again banks are in trouble yet again. Going to show you that banks have no idea how to manage your money any more than you do. In fact it seems like they are worse at it!

In a way I hate what's going on right now but in another I love it because maybe, just maybe people will start taking responsibility for their own investments instead of dumping it off in some bank. That statement right there is the critical bull run factor for crypto and what makes crypto so powerful that many have forgotten about. The freedom of choice to do what you want with your money. If you make a mistake you pay for it, not if the bank makes a mistake you pay for it twice over along with everyone else.

The recent mess of silvergate which I wrote about yesterday before the big news dropped here The Bear Is Still Here

Now another bank is hurting from silvergate going insolvent and liquidating assets. This time it's Signature Bank stock ticker SBNY.

A number of other banks have also started to show signs of having issues such as SVB financial group via Silicon valley bank. News Update: Silicon bank has been shut down by the FDIC

What I will never understand about banks like this is even if they have exposure to crypto if they where running their ship right and simply trading funds and collecting fees that would be well off. However these crushes of their banks makes you think a bit about what is really going on and how they have to be lending out and doing other things with peoples assets. If anyone does this themselves it's called embezzling money. If a bank does it however for whatever reason it seems ok and continues to be a major issue that repeats itself just like the 2008 crash.

We are most likely in for a sharp decline not only in crypto but the stock market this year. Returning us to to lower levels within the 16-17k range for bitcoin once again and stocks getting hammered just as bad.

We are not out of the woods yet and honestly things most likely are only going to get worse before they get better. We are looking at what I hope is a sharp increase by the fed of 75 points. While it's going to sting for sure it's actully going to benefit us over the next year if they take action now. Will they and will they learn from history? Most likely not but one can hope right?

Posted Using LeoFinance ^Beta

#cent #neoxian #proofofbrain #archon #palnet #ctp #vyb #oneup #leofinance

last year in #hive-167922 by bitcoinflood

186.79 CENT

Sort:

Trending

[-]

shortsegments last year

We are experiencing an economic crisis again, IMHO because we didn’t really learn. Banks should be banks, exchanges exchanges, investment houses investment houses. They only fall to greedy temptations when they mix these functions. Humans simply can’t resist money.

Posted Using LeoFinance ^Beta

0.00 CENT

[-]

whatsup last year

Interesting sidebar most of news is about this which will continue to fuel the dropping prices I think

Posted Using LeoFinance ^Beta

0.00 CENT

[-]

kerrislravenhill last year

Next domino.

Posted Using LeoFinance ^Beta

0.00 CENT

[-]

brennanhm last year

I think in either scenario crypto wins...

The fed keeps raising interest rates, causing banks to fail, people flee to BTC/crypto.
The fed pivots, drops rates to zero again, and people flee hyperinflation into BTC/crypo.

0.00 CENT

[-]

hiro.guita last year

Post voted 100% for the hiro.guita project. Keep up the good work.

New manual curation account for Leofinance and Cent

0.00 CENT

[-]

alokkumar121 last year

Yes banking sector is in trouble it seems and SVB is the biggest crash after the financial crisis in 2008. It's also because the banking system needs an upgrade and they Just can't keep on using the same mechanism for decades.

0.00 CENT

[-]

poshtoken last year

_{The rewards earned on this comment will go directly to the people( @bitcoinflood ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.}

0.00 CENT

[-]

tbnfl4sun last year

Posted Using LeoFinance ^Beta

0.00 CENT

[-]

piensocrates last year

The truth is that I believe that the fundamental problem is that we never learn from history, therefore, we are condemned to repeat it over and over again. This is very true in any field that we can imagine, but especially in the economic field, and the proof of this is what we are currently seeing regarding the bankruptcy of these banking institutions. Because one would think that after the financial collapse of 2008, a similar situation could never be repeated... Serious mistake.

I've always said that one of the greatest virtues of cryptocurrencies, in addition to getting us out of poverty, is the fact that they give us freedom of action and the knowledge of what we must do to be financially free; and one of the things we learn in that sense is to be responsible for what we do or don't do every step of the way with our money.

Regarding the price of Bitcoin during this 2023. I would like to be positive about it, but 2023 looks very bad, so bad that I think we can see BTC reaching levels as low as $8k. But of course I may be wrong (and I hope to be wrong in that sense).

In any case, even if Bitcoin remains in a downtrend throughout 2023, it is certain that in 2024 or 2025, we will see it in a pronounced uptrend. Because since this downtrend has been so long, it stands to reason that we would expect the opposite to be true as well, meaning that the uptrend (when ever it comes), will also be long.

I liked reading your post. Thanks for sharing, regards.

Posted Using LeoFinance ^Beta

0.00 CENT

1 vote