In the last month, the S&P has dropped over 6% and late last week two banks, SVB and Signature collapsed. Four other regional banks are also in serious jeopardy.
While the Treasury Department and the President are providing guaranteed backstops for bank deposit holders above the insured $250K threshold, according to Reuters, the Fed is expected to further raise interest rates 25 basis points next week, and again in May, in an attempt to curb inflation.
Governmental control of Digital currency (currently in its infancy), coupled with a dependable form of personal ID, would offer a universal method of transacting business. Of course, very few today would welcome the injection of an RFID chip in their hand, even though it has actually been in use in humans since 1998 and in animals before that.
Mark 13:37 And what I say to you I say to all: Stay awake.”