Banking Crisis: Unveiling the Centralization of the Banking System

Banking Crisis: Unveiling the Centralization of the Banking System

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Episode
378 of 661
Længde
47M
Sprog
Engelsk
Format
Kategori
Økonomi & Business

In this episode, I discuss the ongoing decentralized revolution and the recent banking crisis in the United States. Multiple banks have collapsed, surpassing the 2008 financial crisis. I talk about the trend towards central bank digital currencies and how it eliminates the personalized touch of local banks. The failure of First Republic Bank is a clear example of this centralization. While depositors were protected in the short term, it reinforces the dominance of big banks like JP Morgan. This consolidation has drastically reduced the number of banks in the US over the past 30 years. It's concerning how losses are socialized while profits are privatized.

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