To me, one of the scarier things is that we don't know what is is going on around the world in banking.
Almost every country lowered interest rates to zero or near zero. Almost all of them have had to drastically increase interest rates over the last year. This certainly means many banks around the world made the same fatal mistakes as SVB, First Republic, Signature, and Silvergate.
How many banks around the world are secretly insolvent? How many of them are dangerously close to triggering a cascading effect in their own countries? Which might then trigger a worldwide banking crisis?
SVB started it. It's world news. If I'm a citizen in another country, I'd really think about pulling my money out, especially if I'm in a country with less banking regulation than the US.
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