A post submitted by CGI member Morgan.

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So I'm posting a link to links:

https://www.google.com/search?client=opera&q=what+happens+March+11%2C+2024+to+the+banking+system&sourceid=opera&ie=UTF-8&oe=UTF-8#ip=1
About 1,100,000,000 results

I wonder what kind of chaos is gonna ensue from this due to our incredibly STUUUUUUUPID debt based economy.

Sample snip on one article:

Why economists are warning of another US banking crisis

March 2024 is making investors nervous. A major scheme to prop up the US banking system is ending, while a second may be winding down. Some economic commentators fear another banking crisis. So how worried should we be?

The red letter day is March 11, when US central bank the Federal Reserve will end the bank term funding program (BTFP), a year after it began in response to the failures of regional banks Signature, Silvergate and Silicon Valley. These banks were brought down by customers withdrawing deposits en masse, both because many were tech or crypto businesses that needed money to cover losses, and because there were better savings rates available elsewhere.

This damaged the banks’ profitability at a time when raised interest rates had already weakened their balance sheets by reducing the value of their holdings in government bonds. Silvergate failed first but Silicon Valley Bank’s collapse on March 10 was particularly memorable. It triggered a bank run by announcing it needed to raise capital after being forced to sell bonds at a loss.

End snip
https://theconversation.com/why-economists-are-warning-of-another-us-banking-crisis-224092