Financial Panic, Part 3
The world financial system is at risk of a GDC (Global Debt Crisis). Just one spark could bring the whole financial whole world down in flames. What could cause that crash? There are four specific sparks that could trigger this. Any one could be thr trigger, but all four Sparks in the same time frame would result in The Perfect Financial Storm. Monday night's focus will be on Spark 3 - Big Banks, Too Big to Fail. In the quaint old days, your bank was on Main street and you knew the manager greeted you by name. Now big banking is virtually robotic with few personal touches, constant mergers and changing of personnel. Big banking really isn’t even about banking anymore. It is really about gambling on a scale so large that it make Las Vegas casinos look like bingo games. The masses have no idea what is going on.
A day of reckoning is coming. The wise steward should plan well in advance. By the time the masses realize the danger, bank runs will have taken all the money you had on deposit.