A Climate Change Silver Lining
A banking crisis drives money into real stores of value. When you add climate change to the mix, there's a compelling case for silver.
Well the US banking collapse went about as well as could be expected.
The Government stepped in to bail out depositors of Silicon Valley Bank (SVB). They also took control of another bank which was on the verge of collapse. This one was New York based Signature Bank which had around $80 billion in deposits.
These are significant events and when business hours resume, one can expect to see a 'run' on a lot of mid tier banks for those worried about their money.
It's almost impssible for the US government to guarantee every deposit at every institution and yet that's what they'll have to do unless they want to see more bank runs and more collapses.
How is it fair that SVB and Signature clients are made whole but those at others institutions aren't?
Any non-guarantee will see money flee to the largest institutions that are effectively 'too big to fail'.
It'll also see a lot of money flow into a couple of other asset classes.
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