Hello fellow rebel capitalists hope you're well so we have got some crazy data coming out of the European banking system

we're seeing numbers that are way worse than the GFC and even worse than they had their banking crisis in

2012 and I think the question is how is this going to impact the United States of the

global economy or are we seeing similar things in the

United States? Let's go through this and at the end of this video let's connect some dots

for you. Starting off with this chart that we used in the thumbnail, and this is a tweet, and as you can see I'm still banned from Twitter for some reason.

I'm still locked out of my Twitter account.

The crypto scammer still has my control of my Twitter account

after what, two, three weeks,

emailed them 20 times, but anyway, I I digress we'll get off the Twitter is a sore spot for me right now okay but it's from

Michael A. Arret if I'm pronouncing that right, and he gets the chart from L View Economics.

I want to give them credit, full credit here. And this is the Eurozone banking, bank lending to households, monthly flows.

And as you can imagine, when this plummets drops off a cliff, that's not a good sign. That doesn't mean that the borrowers or society at large,

the consumers are just flushed with cats. They're making so much money that they don't need to borrow anymore,

because they're all getting rich.

That is not what this means.

That means that banks see storm clouds on the horizon

and they see risk going parabolic and they say we are not lending to anybody.

We don't care what your stupid interest rates are.

We don't care how much quantitative easing or quantitative tightening it just doesn't matter we're not lending and therefore bank lending

Crashes which usually means that you are just before or in a recession,

or at least in a banking crisis,

...