They are leading us with mathematical precision to doom – China-US Economic War with about 200 banks in Silicon Valley ready to collapse
An ominous prediction was made by a famous professor about the USA, which is constantly looking for ways to stop the leaping rise of China, which is literally playing “almost its own ball” in world affairs.
Professor Wolf predicted endless conflicts on the planet due to the US desire to maintain its hegemony.
“There will be endless conflicts on the planet because of the United States’ desire to maintain its hegemony.”
That’s what economics professor Richard Wolff said.
“From 1991 to 2021, the US share of global output fell from 21 percent to 15.7 percent, while China’s share rose from 4.3 to 18.6 percent”he wrote on his Twitter.
Wolff noted that this completely changes the balance of power on the planet, with China getting serious about global hegemony.
Moreover, because of this fact now, Washington started to launch endless wars and impose sanctions against its geopolitical rivals (Russia and China).
“The European Union serves the interests of the United States and is ready to kill itself for the sake of Washington.”
This opinion was expressed by the leader of the French right party “Patriots” Florian Philippe.
Filippo reminded that it is not the politicians who control the countries that suffer from the economic hardship, and because of this fact the ordinary people are betrayed by the officials.
“There is no rational explanation for what is happening, because ‘what is happening is real madness,'” said the leader of the French party, who drew attention to the fact that the Western world continues to isolate itself because it does not want to “build a future alongside in Russia, China, India, Brazil, the African countries that are trying to become independent,” he emphasized himself.
In short, the planet is in danger because the US wants to not lose its hegemony on the one hand, and on the other hand to pay off the 22 trillion dollars, which has a “hole” in its budget, only now we will have the beginning of a domino of banking collapses, which will it is the beginning of the end of the west.
WSJ: In the US, about 200 banks will repeat the fate of Silicon Valley Bank
Economists in the United States in the context of the bankruptcy of Silicon Valley Bank (SVB) found that almost 200 American credit institutions are in dire straits, according to the Wall Street Journal.
The article notes that SVB collapsed after rising interest rates reduced the value of its assets and worried customers withdrew their unsecured deposits.
Economists conducted a study and found another 186 banks that may be exposed to similar risks.
Russian sources report that the crisis in the US banking sector will have little effect on the Russian and Chinese financial systems.
Experts calculated bank losses during the Fed’s rate hike campaign and also studied the share of bank funding from uninsured depositors.
“At 186 U.S. banks, in the event of withdrawals from uninsured depositors, insured customers may face write-offs as the bank does not have sufficient assets”the article notes.
Experts conclude that in such a scenario, the regulatory authorities will have to intervene in the situation in an immediate way, otherwise the dominoes will reach in record time in the EU.
Meanwhile, US President Joe Biden believes there will be no banking crisis in the country.
Asked by journalists whether the situation with banks in the country will normalize, the American President answered: “Yes.” Remember that earlier the US authorities closed one of the largest banks, Silicon Valley Bank”.
Also New York’s Signature Bank was later closed due to systemic risks following the collapse of SVB.
The combination of the war in Ukraine, in which the US has invested billions of dollars, the crises in Taiwan and elsewhere along with the domino of bank charges, is an explosive mixture that is leading with mathematical precision to a possible world war.