Bank Collapses for Dummies. Is Your Money Safe?

You may have heard in the news recently about the Silicon Valley Bank collapse.

Here is a simple explanation with stories so anyone can understand why it collapsed. Could this happen to our Canadian banks?

In my latest podcast episode, you'll learn all about bank collapses and the best way to protect your money.

• Three reasons why Silicon Valley Bank collapsed.

• 1980s story showing how matching maturities works.

• Beverly Hillbillies explain why no bank is safe.

• How social media makes your bank less safe.

• What is a "bank run"?

• Wisdom from the musical "Hamilton" that Silicon Valley Bank didn't follow.

• Can CDIC make your money safe?

• Can government regulations make your money safe?

• What are "capital requirements" and do they make your money safe?

• Is your money safe in a Canadian bank?

• Have Canadian banks failed?

• Understanding different kinds of risks.