March 14, 2023—The tremors in the financial system felt around the world triggered by the run on Silicon Valley Bank (SVB) in the United States, its subsequent closure and being put in receivership, are the clarion call for all governments in the world to act quickly to prevent a repeat of the 2008 crisis on a larger scale—larger and more deadly, because all the so-called “tools” of the central banks have been exhausted.
