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Today in good news: Vice Media reportedly headed for bankruptcy
submitted 11 months ago by hfxB0oyA from archive.is
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[–]MagicMike 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - 11 months ago (2 children)
Lol, the whole banking system is on the verge of collapse and unless a deal is made, the USA will have to declare bankruptcy on June 1st. The White liberals and low IQ violent boons will have finally destroyed the USA. Wonder if they’ll like what comes next, the dumb bastards.
[–]bucetao6969 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 11 months ago (1 child)
That's some pretty bold claims. Any source to back it up?
[–]Musky 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 11 months ago (0 children)
I think he might be right. I don't have a nice tidy source for you, but the issue is that these banks only had to have fractional reserves, and their 'safe' investments in bonds got fucked because of the FED raising interest rates, and their 'risky' investments are in inflated real estate that's about to pop.
Which means the banks aren't solvent, and the only thing preventing a collapse is people ignoring the situation. Every bank that customers have withdrawn their money from en masse has fallen because they don't have the money to cover withdrawals.
It's scary.
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[–]MagicMike 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - (2 children)
[–]bucetao6969 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (1 child)
[–]Musky 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)