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The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be?
In this video, Andrew shares his thoughts on bank failures and the end of Capitalism.
00:00 Start
0:18 Bank Failure
1:00 What Treasury Secretary Said
5:24 What Does it Mean?
10:10 Countries With the Best Bank Systems
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Capitalism is an economic system based on private ownership of the means of production and the creation of goods and services for profit. Banks play a crucial role in capitalism as they act as intermediaries that facilitate the transfer of funds between individuals and businesses. However, when banks fail, they can cause significant harm to the economy and spark debates about the viability of capitalism itself.
Bank failures occur when a bank is unable to meet its financial obligations to depositors and creditors. This can happen for a variety of reasons, including inadequate risk management or insufficient capital reserves. When a bank fails, its depositors and creditors may lose some or all of their money, which can have a ripple effect throughout the economy. Other banks may become hesitant to lend, causing credit markets to freeze up, and businesses may be unable to access the financing they need to operate.
The Great Depression of the 1930s was a prime example of how bank failures can have catastrophic consequences for the economy. Over 9,000 banks failed during this period, leading to widespread bank runs and forcing many businesses to close. The government response was to implement a series of regulatory reforms, including the creation of the Federal Deposit Insurance Corporation (FDIC) to insure bank deposits and prevent runs on banks.
Despite these regulatory measures, bank failures continue to occur. The 2008 global financial crisis, which was caused by a combination of lax regulation, risky lending practices, and excessive debt levels, led to the failure of several major banks and a severe recession that impacted the global economy. The government stepped in to bail out some of the failing banks, but many argued that this was a violation of the principles of capitalism and a skewing of the free market.
So, are bank failures the end of capitalism? Not necessarily. While bank failures can be a severe blow to the economy, they are not a fundamental flaw in the capitalist system. Instead, they are the result of poor management, inadequate regulation, and risky behavior by banks and other financial institutions. Capitalism is an inherently dynamic and resilient system that can adapt and evolve over time. It is up to governments, regulators, and the private sector to take steps to prevent bank failures by implementing sound policies and regulations that promote stability and accountability.
In conclusion, bank failures are not the end of capitalism, but they do highlight the importance of good governance and responsible behavior in the financial sector. By implementing better regulations, creating stronger safety nets for depositors and creditors, and encouraging transparency and accountability, we can help ensure that banks remain a vital part of the capitalist system and continue to facilitate economic growth and prosperity.
I hope it is the end of capitalism. All i am getting out of this system is a minimum wage, dead end job. Any other system would be better for me. All i am getting now is screwed by rich people. I say let them get screwed for a while and see how they like it. They want to move their money overseas? Maybe the US Army could be used for some bank robberies. How did of a force does the Caymen Islands have?
GAWD I hope so, but we all know that capitalism is a rigged system with all the bailouts and the billions the FED injects to the economy every year to keep it going, so therefore its never going to end, to make sure we will all be kept enslaved.
It's not the end of capitalism. It's the end of one form of crony capitalism which is now being replaced by an even more corrupt form of crony capitalism. Ethical capitalism is the natural state of man's existence. Crony capitalism is the unnatural distortion of economic exchange which is engineered to steal your property and your life. The reason people use the word "capitalism" incorrectly is because they cannot make the proper distinctions between honest money and fiat/usury systems that are used by banking cartels to enslave people. We have been programed to accept slavery because we have lost the ability to apply virtue to economics. We are not governed by ethical standards applied to economics. We are ruled by counterfeiters and then they charge us interest on worthless paper. Fiat money is the foundation of modern slavery and tyranny.
Always informative videos Andrew. Years ago my wife who was Japanese living in the U.S. had money in a Japanese bank. Every year when I filed our taxes (jointly) I had to report her Japanese bank account. and interest that she made on it, as it was an interest bearing account. I eventually got tired of it, and had her close out the account. I thought later that might have been a bad idea, but more recently the Yen hasn't been doing that well, so maybe it wasn't such a bad idea after all. It might be good to have foreign bank accounts but not in countries with currency fluctuations. You are right. Choose your foreign banks carefully. I may eventually open a debit account in a Philippines bank, but it will only be for monthly expenses, while I am over there, and even though the Philippines Peso does have some ups and downs, the account will be more for convenience and not large. In the U.S. I use the biggest credit union in my state and JP Morgan Chase.
All on going on managing failure
Go to another planet that treats you best
its part of the design, of course
No. Not by a long shot. There will always be people that will succeed. We do not need banks.
Thank you Andrew
Spot on!!
Mr Andrew
Do u think this USA bank failure wl effect other banks FD in GCC??
End of capitalism? Hell no! Capitalism is life, capitalism is common sense.
Asia has been a bit isolated so far. They're not going to get off the hook either. These are Globalization times and everything is connected in one way or another.
The end of the central banking system will be a dawning of a new era of freedom.
Woke culture ruins American banks. Now we have to appreciate wokizm. Decentralization in the finance world is coming up. Those guys dump woke culture because they need experts.
Can you please create a 'lite' version of your service. Would love to work with you but dont earn enough. Surley a self service option with the right information available would be possible?
Capitalism is the most productive economic system. As Americans I don't know if we're bright enough to keep it.
Test
Bank failures are just market correction like most business failures, the only difference is that they are rent seeking crony capitalist in this market.
No.
This is basically an ad for bitcoin
what is the answer? is it or not? i cannot understand english that much but name of the video interested me
Canada actually has five very large banks CIBC Scotiabank TD Royal and Bank of Montreal
Modern banks are not capitalist, the central bank system is keynesian/socialist, in a capitalist system you wouldn't use government issued money. If this is the end of something, it's the government controlled economy. Let governments finally crush under their debt and their currencies become worthless and let people use free market currencies and operate in non government controlled markets.
The elites are planning to control every detail of your life
What their real plan is and has been, is to consolidate your banking options to something they can control to force you into CBDC.
Did the SVB depositors actually receive all of their money back yet?
"Little children, it is the last time: and as ye have heard that antichrist shall come, even now are there many antichrists; whereby we know that it is the last time."
— 1 John 2:18
They are covering their mates money and getting the less well off public to foot the bill….. They should let them all fail and it might swing inequality back a little
If there aren't clear rules it will be arbitrary as we've seen. Those who have the right political connections will be bailed out, the others not so much. We're really passing through a bad age in the west. Regretable.