New Found Gold Corp V.NFG

US banking system starting to collapse

[Dixiedee]

https://www.kitco.com/news/2023-03-10/Biggest-bank-failure-since-2008-drives-gold-sentiment-higher-could-hit-1-900-next-week.html

[Retiredgeo]

I remember the collapse of Lehman Brothers back in 2008.  At the time I didn't think much of it but it was a sign of rot throughout the US financial system - too much paper and not enough hard assets to back up the paper.  Has the same thing happened again even with the stress tests? Next week will be interesting.

[wajac]

I read the article. No where did the author say the US banking system was collapsing. The two bank closures this week were small regional banks. There are hundreds of these in the US.

[Retiredgeo]

SV was the 16th largest bank in America.  It was not some mom and pop operation. In it's day Lehman Brothers wasn't that important either.  It's collapse was a sign that something was very wrong.