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The US Banking System as a Modern Caste System

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The US Banking System as a Modern Caste System

According to reports, Professor Gemini and co founder Tyler Winklevoss wrote on social media that the US banking system is a modern caste system, and only those who have access to head banking services will be protected, while others will face risks. He pointed out that Bank of America is actually a type bank, a regional bank, and a bank without bank accounts, The US government considers systemically important financial institutions (SIFIs) to be “too big to fail”, while banks that are “not worth enough” may not be protected. The US government has had to step in to save customers at Silicon Valley Bank (SVB) because its failure could have a catastrophic impact on the broader financial landscape.

Gemini founder Tyler Winklevoss: The American banking system is a modern caste system

Analysis based on this information:


Professor Gemini and Tyler Winklevoss made a thought-provoking statement on social media about the US banking system. According to them, the banking system is a modern caste system in which only those who are privileged enough to have access to head banking services are protected, while others are at risk. This statement alludes to the systemic inequality that exists within the US banking system.

The caste system is a social hierarchy that has existed in some cultures for centuries, where individuals are assigned a status based on their birth and their social position. The US banking system, similar to the caste system, operates under the notion of privilege, where only a select few have access to the benefits that banking services can provide. These privileged individuals have the protection and safety of the system while others are left at risk.

Through this statement, the co-founders highlight the distinction between different types of banks, such as a regional bank and a type bank, which may not have access to the same protection as larger financial institutions. The US government recognizes systemically important financial institutions (SIFIs) as being “too big to fail,” and they provide them with additional support and protection compared to smaller banks that are not considered as SIFIs.

As a result of this inequality, the US government had to step in and save customers at Silicon Valley Bank (SVB) as the bank failure could have had catastrophic impacts on the broader financial landscape. The co-founders’ statement points out that smaller banks, such as SVB, are not afforded the same level of protection as their larger counterparts, which potentially leaves their customers at risk.

In conclusion, the statement made by Professor Gemini and Tyler Winklevoss emphasizes the systemic inequality that exists within the US banking system. The caste system mentality, where only those who are privileged have access to the benefits and protection of the system, perpetuates this inequality. With financial institutions continuing to consolidate and small banks closing, this gap is likely to widen, leaving ordinary working-class citizens at a disadvantage.

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