It took 6 months for the collapse of Lehman after Bear Stearns… all in which took weeks to trigger.
Silvergate, SVB, Signature, First Republic…. Etc.. took 2 days.
Discussion
power of social right there
And normies are okay with this 🤦
they do bot even know what fractional banking is!
I even saw a Forbes article complimentings big banks for holding 2% reserve despite 0% reserve requirement. 🤦🤦
what's interesting to me is I wonder how many people realize that the 2% reserve, means that out of all the money the bank has accepted as deposits, (that large sum x 2%) is all the money they actually have at the bank.
Same article was complaining that Fed doesn't have tools to control social media against a bank run.
There is no salvation for the guy who wrote that article.
bitcoin will swallow them