I sometimes wonder which 'to big to fail' sector will have the first casualty. The easy answer is banking because it is so predatory that no bank will come to the rescue of another. They will just wait to pick the meat off the bones when the competitor fails.
Will it be another mortgage crisis? It's sort of shaping up that way with really big unemployment and small business failures. Could be a small manufacturing crisis. There is an incredible pile of money (or more honestly, theoretical money) backing loans that could be in deep shit right now. My brother told me that the relatively modest Credit Union that he works for offered to defer payments and interest on 4 billion dollars of loans in June. That program is ended right now.
My brother is not a banker that laughs at crypto. He doesn't consider it investment grade yet, but actually has some real world knowledge. When he calls me and tells me that he bought his first BTC I will officially be in fear for the banking industry.
The banks are happy to eat themselves, thinking that we have no other options available but to rely on them.
In the post there is a link to the world money in chart (a few years old). The derivative market is insanity.
Let me know when he buys ;)
!ENGAGE 20
ENGAGEtokens.