The "Worst Market Crash Since 1929" Is Rapidly Approaching And The Fed Doesn't Know Which Way To Go

If the Fed pushes rates higher, interest payments on our 34 trillion dollar national debt could spin wildly out of control and bank balance sheets will be in even worse condition than they are now.

Our banks are the beating heart of our economic system, because without the banks we would not have a functioning economy.

The banks are where we get mortgages to buy homes, auto loans to buy vehicles, and credit cards to go on shopping sprees.

One consulting firm that examined data from approximately 4,000 U.S. banks is warning that hundreds more banks could potentially fail during this crisis.

Consulting firm Klaros Group analyzed roughly 4,000 U.S. banks and found that the banks face a threat of losses due to "Secular changes in social patterns accelerated by the COVID pandemic and to the impacts of higher interest rates and related inflation."

"You could see some banks either fail or at least, you know, dip below their minimum capital requirements," Christopher Wolfe, managing director and head of North American banks at Fitch Ratings told CNBC in an interview.

Last year, the bank bought more gold than any other central bank in the world, adding more to its reserves than it had in nearly 50 years. 

http://theeconomiccollapseblog.com/our-deer-in-the-headlights-moment-the-worst-market-crash-since-1929-is-rapidly-approaching-and-the-fed-doesnt-know-which-way-to-go/