The banking system has been under stress in the past few months, as a series of banks have gone under, not just domestically in the US but internationally as well. First Republic Bank is the latest bank to be on the verge of collapse. Shares of First Republic (FRC) plunged from $122.50 on March 1 to around $3 a share as of Friday on expectations that the Federal Deposit Insurance Corporation, the independent government agency that insures deposits for bank customers, would step in by end of day and take control of the San Francisco-based bank, its deposits and assets. As a guest on Blockworks, Investor Mark Yusko gave his take on what is going on. In Yusko’s view, the whole banking situation is worse than the financial crisis of 2008-2009. Many Bitcoin maxi and crypto enthusiasts believe it's time for the banking system to fail and for a more fair, and equitable system to take place. But although Mark Yusko is bullish on Bitcoin, he doesn’t agree and believes the fractional reserve system is what makes our society great and the Maxis should reconsider their view. --------- ► To watch the full interview: https://www.youtube.com/watch?v=pE7RdChTMCE&t=3456s
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