Posts Tagged ‘bank failure’
The Problem with Fractional Reserve Banking and an Interesting Irony
Last week, I discussed the failure of Silicon Valley Bank and the harsh realities of the fractional reserve banking system. Since I wrote that piece last week, there have been more bank failures and bank rescue packages. Signature Bank followed Silicon Valley Bank. Credit Suisse was propped up with a $54 billion…
Read More“First Bank Failure of Many?”
As I discuss in my New Retirement Rules Class, ever since 1971, the US Dollar has been debt rather than an asset. On August 15, 1971, President Richard Nixon eliminated the link between the US Dollar and gold, making the US Dollar a fiat currency. Since that date, US Dollars have been loaned…
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