Posted BY: | NwoReport
(Natural News) If you think the banking collapse will end with Silicon Valley Bank (SVB), think again.
Contagion is already spreading as Americans are waking up to the fact that the American financial system is a fraudulent Ponzi scheme that will result in financial ruin for many – especially those whose lives and livelihoods depend on it the most.
“I don’t think we’re going back to where we were in 2008 necessarily, but these things aren’t one-offs,” said University of San Diego finance professor Dan Roccato about the situation.
“My suspicion is we’re going to see a few more of these things creep up.”
Roccato is technically right about things not going back to how they were in 2008. If anything, they will be much, much worse once all is said and done with the current banking crisis, which has only just begun.
Numerous other banks are already seeing their share prices crumble as depositors withdraw their cash and investors sell off their stocks in anticipation of more blood in the water.
New York’s Signature Bank, which collapsed not long after SVB, saw its share price plummet 23 percent before trading was halted as news of SVB’s demise broke. The share price of First Republic, the 16th largest bank in the United States, also crashed by 14.8 percent, followed by a 37.9 percent drop for competitor Pac West.
(Related: Are we witnessing the “controlled demolition” of the entire banking and financial sector in real time?)