2023’s banking failures: a wake-up call for an unstable financial system and potential solutions
The recent failures of major banks such as Silvergate, Silicon Valley Bank, Signature Bank, and Credit Suisse have highlighted the fragility of the modern banking system. These events occurred within a week, unlike the drawn-out process of the 2007-2008 financial crisis. The quick succession of bank failures underscores the inherent risks of a money system based on government fiat, central banks’ ability to print money and manipulate interest rates, and …