$700B In Losses Hit Big Banks!

$700B In Losses Hit Big Banks!

$700 billion in losses Bank of America
alone $140 billion in the red so how
does this happened how did the big Banks
get in so much trouble well when
interest rates are jacked up to 5% just
like your payments go up on your
mortgage or your credit card debt banks
are now having to pay out five or 6%
this higher interest rate to their
customers on their deposits but what
they’ve got on their balance sheet tends
to be things like government bonds that
they bought back when interest rates
were near zero so earning zero but
having to pay out 5% they’re just
getting further and further in trouble
and what’s going to happen same as
always the big Banks too big to fail
they’re going to get bailed out the
central banks or the government are
going to come in and rescue them give
them hundreds of billions of dollars
remember at the same time they’re all
making plenty in wages and bonuses and
record profits but they’re too big to
fail this is all good for Bitcoin it’s
all good for crypto that money that’s
been printed is just going to cause more
inflation and makes Bitcoin look better

Rising interest rates and big bank bailouts: A boost for Bitcoin and Cryptocurrency #banking #bitcoin #crypto

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