"Much like how two nuclear bombs ended World War II, capital-crushing central bank policy rate hikes and Russian sanctions were like two nuclear bombs dropped on the economy and the banking system. The shock wave took one year to make its way around the world, and now we're dealing with the fallout.European banks like Deutsche Bank and Credit Suisse were very intertwined with Russia, and tried to resist cutting ties with Russian business lines as this would inevitably lead to their failures, which would spread as contagion to the rest of the global banking system." — ⁠Brad Mills⁠

Part 2 today of Brad Mills's excellent breakdown of the state of the banking crisis, the potential risk to the everyday depositor, and the likely paths forward. Will more banks collapse, and will this lead us into hyperinflation, broad default, or will we manage another kicking of the can? How do we, as depositors to these crumbling institutions, protect ourselves from the growing storm? Find out in today's episode...

For the tons of extra data and sources to give the visual comparisons and tell the "story" of all this as it plays out, I highly encourage you to visit the link below to get a sense of what has been happening. Part 2 is coming soon, stay tuned:

⁠https://bitcoinmagazine.com/markets/the-banking-crisis-threatens-your-money⁠

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“What are the odds that people will make smart decisions about money if they don't need to make smart decisions--if they can get rich making dumb decisions? The incentives on Wall Street were all wrong; they're still all wrong.”― Michael Lewis, The Big Short