The Atlantis Report
Premiered Apr 23, 2021
Mass unemployment. Mounting bankruptcies. And fears of negative interest rates. This is a nightmarish time for America’s banks.
The Banks are in trouble because people are defaulting on their loans.
If people aren’t earning as much money as they were when they were working, especially small businesses, they’re not paying their loans. So the banks are not getting interest payments. They’re getting defaults.
In fact, there was already trouble in the subprime markets before the pandemic. Both subprime credit card and auto loan defaults were rising. That will only increase with millions of people suddenly unemployed.
The world’s banks are also under siege because Cryptocurrencies threaten to undermine banking altogether. Banks’ lending activities are attracting ever less interest thanks to central bank policies, and now negative rates are on the cards.
The Bankers are staring into an abyss. The Problem is Main Street just doesn’t know it is staring into the same abyss.
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