Never let a crisis go to waste. The US regional banking crisis continues to gather pace. As out of control as the situation seems, our team believes that the American and European political and financial authorities see it as a necessary evil to reinvent their economic system. This reinvention is a matter of survival for the Fed, which has found itself in an impossible situation since the 2008 crisis, with only two bad options left: inflation or recession. It is also an opportunity for the political authorities to regain control of money flows and to return to a much more managed economy in the hope of regaining the confidence of their citizens.
The US regional banking system is simply collapsing, fuelled by a more or less rapid and deliberate Bank Run. The latter is redirecting deposits, firstly to the too-big-to-fail banks (as far as current accounts are concerned) and, secondly, to the money markets, i.e. treasury bills, precious metals, cryptocurrencies or new savings products, such as the one recently offered by Apple (for savings accounts).
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