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Luke Ellis, CEO of the largest publicly-traded hedge fund, Man Group, has warned that the turmoil following the collapse of Silicon Valley Bank is not over yet. He predicts that a number of banks will collapse in the next two years.
Ellis made his statements Wednesday during a Bloomberg conference in London when he was asked whether he thinks the banking crisis is over.
“That depends on what you define by a crisis. I think a significant amount of banks will no longer exist in 12 to 24 months,” the hedge fund boss said.
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
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