The banks end up gambling with more money than they have, so when things go bad they cannot pay off the loss. Styx points out that the banks that are going under are connected to the Crypto space. If things go bad on a wider scale the banks in this space will likely be targeted or let go.
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After 2008-9 they can make the situation whatever they want. I saw that a lot of US banks went into trading halts. It depends on what they want to do. One thing tho, I would not trust the word of any Fed Bank official. Ben Bernake got EVERYTHING wrong last time. They can use infinite bail out money to do whatever. Last time the crisis was used to gobble up other banks, and they did not even have to be weaker ones either. It was a scam. This might be used to gobble up crypto supporting banks rather than let things collapse. The one big factor now is the war in Ukraine. If things go far off the rails it may stop the support for the war. The neocons with the guns would tell the banksters they better facilitate the attack on Russia.
So when it comes to money and power, the people with the guns will dictate a lot of things imho. Imagine if some huge powerful banking institution tried to do something to the Clinton Foundation. The banking institution head would end up dead in a dumpster.
So I think this will be managed, to help with the war, maybe attack some other banks, and not go out of control just yet. But who knows? They do have an infinite money printing machine, and they can rig the (all) markets to whatever they want. We have a phony stockmarket casino system, while the underlying economy is like a side show for these people that just struggles along - although it is not unimportant.
[Posted at the
SpookyWeather2 blog, March 15, 2023.]
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