This is much worse than everyone thought possible.
Three major U.S. banks have gone bust last year, and another one collapsed just a couple of months ago.
Though most people think these failures have set off the crisis that is unfolding right now, according to data from American Banker, this trend has started long ago.
Since 2020, 10 regional lenders have failed in the U.S.
That number climbs to 15 if we go all the way back to 2017. And jumps to 34 going back to 2015.
The truth is that the American banking system has been falling apart before our eyes for quite some time now, but we have just started paying attention to it.
Now more than ever, we should stay alert.
Experts with the financial services group Nomura have sounded the alarm last week, saying that conditions are deteriorating extremely fast in the sector. They have predicted that the number of bank failures will soar by 500% over the next 12 months.
Even Federal Reserve officials have confirmed that more institutions are going to face an inevitable collapse.
The biggest problem is that, today, about half of all deposits in the U.S. are uninsured, meaning that almost 50% of all accounts may be completely wiped out by the ongoing bank crisis.
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