Silicon Valley Bank collapse marks 2nd biggest bank failure in U.S. history
https://www.cbc.ca/news/business/silicon-valley-bank-failure-1.6775730
This most recent bank failure is caused by a huge problem with conventional banking systems – fractional reserve lending (FRL). Under FRL banks are allowed to loan out depositor’s money. Unknown to many, when you deposit money at a bank you instantly become a creditor of the bank. When bank depositors get nervous, they rush to withdraw their deposits. This is called a “run on the bank” or “bank run”. The problem is the bank has no cash because the government decided there should be no reserve requirements for banks to hold any cash. The problem is the bank has no money. Since most people live pay cheque to pay cheque, what are these people to do when they can’t get money to buy groceries, pay for housing and debts? This is one of the many problems 100%+ reserve “privatized banking” solves. The most popular privatized banking plan is something called Infinite Banking Concept (IBC). Many economists recommend you have one. The key question is, when your bank collapses, will you have a privatized banking plan in place, or not? I set up privatized banking plans. Want one? DM me.
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