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What Happened To The Banks Last Week & How Can You Be Prepared?
Publisher |
Chris Harder
Media Type |
audio
Categories Via RSS |
Business
Entrepreneurship
Publication Date |
Mar 20, 2023
Episode Duration |
00:19:58

I’ve been getting a lot of DMs and texts asking what my thoughts are on the recent bank collapses and what I’m doing to protect my money. In this episode, I break down how the US banking system works and go over key terms, including what a run on the bank is and how it’s changed over the past century. 

I explain exactly what happened with Silicon Valley Bank and what the Fed did to ensure the whole banking system didn’t collapse. Plus, I share ways to diversify your money and reduce risk going forward. 

 

IN THIS EPISODE, WE TALK ABOUT:

  • Why you shouldn’t panic because of the recent bank collapses 

  • What’s protected (and what’s not) with FDIC insurance

  • How the fractional reserve banking system works and why it fails sometimes 

  • How social media dramatically changed the landscape of bank runs 

  • Five ways to diversify your money 

 

RESOURCES

  • Text DAILY to 310-421-0416 to get daily Money Mantras or Business Perspective messages to boost your day.  

 

CONNECT WITH CHRIS

Follow Me: @chriswharder

Visit My Website: https://chrisharder.me 

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