It should be noted that the collapse in 2023 is expected to be significantly worse than 2008. Bear Stearns failed in March of 2008, Indy Mac failed in July 2008 with the majority of institutions failing in September 2008. In March 2023 alone, several institutions have already failed, received a bailout, or are in the process of merging. This is an ominous sign of things to come. Few remember that during the last half of 2008 when the financial system was collapsing, institutions and traders were selling precious metals to cover their losses. The charts below show a comparison between 2008 and 2023 for the Dow and Silver.
2008
Bear Stearns – March 16, 2008
Indy Mac, F.S.B, Pasadena, CA – July 11, 2008
Fanny Mae – September 6, 2008
Freddy Mac – September 6, 2008
Merrill Lynch & Co. – September 14, 2008
Lehman Brothers – September 15, 2008
AIG – September 16, 2008
WaMu – September 25, 2008
2023
Silvergate Capital – March 8, 2023 – shut down
Silicon Valley Bank – March 10, 2023 – bankrupt
Signature Bank – March 10, 2023 – failed
First Republic – March 17, 2023 – bailout rescue package
Credit Suisse – March 19, 2023 – Merger with UBS
Stock charts courtesy of StockCharts.com.
