The Banking Lending Crisis with FEDUPBIZOWNER

“I think banks are scared shitless. I think they know what’s sitting on their books and they’re praying like holy hell that they will still be solvent in 12 months.”

— FEDUPBIZOWNERLocation: Squadcast

Date: Wednesday 5th August

Company: N/A

Role: N/AThroughout 2019 and early 2020, the global economy was signalling fragility. However, with the rapid spread of COVID19 and the resulting lockdowns, the global economy is heading into a deep recession.As governments have worked to control the virus, economies are opening back up. Across the world, governments are facing the challenge of stimulating these faltering economies while managing localised lockdowns.The Fed announced a new effort to support the economy, including programmes for small and medium-sized businesses, via Main Street lending, however, banks are still, seemingly, reluctant to offer loans.In this interview, I talk to anonymous Twitter account FEDUPBIZOWNER. We discuss COVID's impact on the lending markets if the banks are facing an insolvency crisis, why stock markets are hitting all-time highs and hedging with gold and Bitcoin.This episode’s sponsors:Kraken - The best place to buy, sell & trade Bitcoin

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