[TheBobinator]

Almost all US banks have had upside down Texas ratios since 2000. Used to be savings accounts paid the rate of inflation, but not paying inflation and driving investments into riskier classes is the way they are driving revenue to pay off their bad debts.

With covid, the likelihood of bank failures has risen considerably as the savings money is drying up or moving out of cities and investment risks have raised considerably. Historically, whenever banks got systemically over-levered and they try to avoid a systemic banking collapse, they come for the commoners assets. Last time around they did gold confisaction. I remember in 08 they were talking about confiscating 401k money into the stock market.

This is no different. This is a creepy article full of trite anecdotes and observational BS that demonizes anyone that uses cash as a drug dealer or sex trafficker and doesn't mention the root issue.