March 18 – BLiTZ. The collapse of two large national banks caused “shock waves” in the US economy. Political scientist, Americanist Dmitry Drobnitsky spoke about this.
The analyst, in particular, analyzed the problems of the “salary for many Americans” bank Wells Fargo.
“There are now a number of financial institutions caught in this situation. There is also Silvergate, which does not currently perform regular operations. There is Wells Fargo Bank, which is also a very large bank. Moreover, Wells Fargo Bank is the bank through which, excuse me, they receive salaries. That is, there is a slightly different salary system. If we would translate it into our language, this is a bank with many payroll programs. And Wells Fargo Bank on Monday said it was delaying check cashing. Well, not cashing out – transfer to accounts, ”said Drobnitsky.
According to him, this is a very serious problem for America.
“And two financial companies have said they are dealing with financial difficulties. These are Voyager and Trihill Capital. In general, when they write in the American press that shock waves have been sent throughout the economy of the United States, this is absolutely true and fair. Yes, and European banks – shares are falling. And in the place of so many investors now, probably, the consultants said: check the balance sheets of your banks. Especially if your investment activity is connected with them. And checking the balance sheets of today’s banks is a dangerous business. Well, what will you find there? It’s not even that the money went somewhere, came, or so on. It is quite obvious that a certain kind of tension in liquidity has appeared. That is, the ability to quickly raise money, print, re-borrow, use fast loans or other financial instruments to organize cash. In a sense, the cash is not paper, but live non-cash electronic money, ”the Americanist emphasized.
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SM-News news agency wrote: earlier, Drobnitsky said that ordinary Americans were increasingly blaming the Biden administration for inflation.
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