The banks are for shit anyway.
I laugh at people shorting Tesla when they should be shorting the banks. Their business model is under attack from so many directions. They are finding it harder and harder to make money as other options emerge.
Their monopoly over the financial system is breaking apart.
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Yea but the biggest issue for XLF and the financial stocks right now is that fallout of Archegos. I have only heard of reports from Credit Suise, Goldman, Morgan Stanley and Chase. So I wonder if its going to be painful since the rest are silent.
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Yes that is the latest crisis but all part of a larger trend. The banks have not been doing well, overall, in years.
Many of them are going to end up going under. Perhaps not the biggest ones but those at the second and third levels.
I have no idea how local banks make money anymore.
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I am not surprised if the local banks are in trouble. They don't have the option to do all the treasury swaps or dump treasuries on the Fed.
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How money money is going to move from banks to being stored in crypto?
If we get billions of dollars moving over, we will see it really hinder the local banks. The fractional reserve system really hurts them then.
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