Can The Federal Reserve Stop The Avalanche Of Bank Runs That Has Already Begun?• http://theeconomiccollapseblog.com by Michael Snyd
On Friday, Silicon Valley Bank collapsed and was taken over by regulators, and then on Sunday regulators swooped in and shut down New York's Signature Bank. In a desperate attempt to prop up faith in our rapidly failing banking system, the Federal Reserve unveiled an emergency plan late on Sunday that is absolutely staggering. All of the depositors at Silicon Valley Bank and Signature Bank will be protected, and all of them will have access to their money right away. They aren't calling this a "bail out", but that is essentially what it is. But will it be enough to stop the bank runs that are already happening?
Late last week, huge lines at Silicon Valley Bank quickly made headlines all over the nation.