Has Crypto Endangered Federally-Insured Big Banks? Ask State Street

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

Has Crypto Endangered Federally-Insured Big Banks? Ask State Street

By Pam Martens and Russ Martens: June 21, 2022 ~ There have been a number of articles lately attempting to reassure Americans that the crypto carnage will not cause financial instability or an economic collapse in the U.S. like that of 2008. The fact is, absolutely no one can say with any degree of certainty what will be the outcome of this unprecedented era of reckless investing. That’s because anything that causes the megabanks on Wall Street to pull back from lending to one another or to major counterparties – out of fear that the institution has dangerous crypto exposure – could cause the same contagion effect that occurred in 2008 from opaque derivatives and toxic subprime debt exposures. We decided to have a look at the websites and quarterly SEC filings (10-Qs) made by the megabanks on Wall Street, the ones that since the repeal of the Glass-Steagall Act in … Continue reading →

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