Here is commentary from Gregory Mannarino:
Once again! The global financial system finds itself in crisis. Indeed, a new full-on worldwide financial system/banking crisis is upon us. (And it’s just getting started).
Let us consider…
Is it even remotely possible that banking regulators and central banks simply missed this? Meanwhile, We the People saw this coming? Is that even possible? Really? How about no.
There is absolutely no feasible or realistic way that banking regulators and central banks could have not seen this coming from miles away, and here are just a few reasons why.
Let’s start with this. Every bank is required to submit financial reports to regulatory authorities every quarter and moreover, even without seeing these reports, it’s plainly obvious that banks were failing because of just three things.
Number 1. No deposits,
Number 2. No loans, and
Number 3. No deals.
I brought these three things listed above up to the attention of those who follow my work beginning no less than eight months ago.
Now, just to put this into further perspective. The average savings rate, which is calculated as the percentage of cash which people put away after expenses, is 8.84 percent. Again 8.84 percent is the average. Well today, the savings rate has dropped to just 4.7 percent (and personally I believe that this number is inflated). This 4.7 percent savings rate appears inflated to me because currently more and more people are becoming dependent on credit card usage. (Credit card debt has exploded, rising 11 percent in just the last year).
With respect to “no loans and no deals.” Year over year mortgage applications have dropped a record 43 percent, and bank refi’s have dropped another record 74 percent. And on top of all this, loan delinquencies across the board continue to skyrocket.
But it gets even worse.
People are withdrawing cash from both their money market and savings accounts at a record pace.
So, no… It is not possible, even in the remote! That those who stand in charge of the world economy, the banking system, and the markets just missed all this. Therefore, it is deliberate. In fact, it’s more than just deliberate!
This entire banking system crisis/global financial system collapse has been perfectly orchestrated and engineered by central planners/banks. But why?
The question of why comes down to just a few things. Central banks are “rearranging the deck chairs” so to speak, and it comes down to a consolidation of the banking system in preparation for the rollout of an entirely new central bank digital/cashless system.
Source - https://trendsinthenews.substack.com/p/new-worldwide-financial-systembanking
And it all goes along with "the great cull" (a.k.a. "the great reset"). We won't have to worry about being happy or not, since many of us will be dead.
Did you vote for this? I sure didn't. But it's happening, right before our eyes. When did theft become a "fiscal health" measure?