“Even if only half of the uninsured depositors decide to withdraw, almost 190 banks are at a potential risk of impairment to insured depositors, with potentially $300 billion of insured deposits at risk,” economists write.
Posted BY: | NwoReport
186 U.S. banks are at risk of insolvency and may collapse similar to the way Silicon Valley Bank went bankrupt last week, according to an international economic report.
A study by four economists from top universities posted to the Social Science Research Network on March 13 claimed that Federal Reserve interest rate hikes have devalued assets like U.S. Treasuries held by these banks.
“From March 07, 2022, to March 6, 2023, the federal funds rate rose sharply from 0.08% to 4.57%, and this increase was accompanied by quantitative tightening. As a result, long-dated assets similar to those held on bank balance sheets experienced significant value declines during the same period,” they wrote.
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Here is some simple advice. Find a small bank. If you’re in the country, find a bank that caters to farmers, if you can. They’re simply safer and they’re more American.