Moody’s Downgrades Banking System from “Stable” to “Negative” – Crypto Takedown in Place with “Operation Choke Point”?
In spite of the fact that President Biden and U.S. Treasury Secretary Janet Yellen have told Americans that the U.S. Banking System is "safe and sound," Moody's Investors Service today announced that they had downgraded the U.S. banking system to "negative" from "stable" to reflect “the rapid deterioration in the operating environment.” They also announced today that they were studying First Republic’s debt rating for a potential downgrade, along with five other regional banks. Sifting through the plethora of news today regarding the banking industry's woes, there are some who are now questioning why the Feds closed down Signature Bank on Sunday, when other banks appeared to be worse off. This has led to speculation that cryptocurrency banks are being targeted, and the revival of the "Operation Choke Point" conspiracy theory.