Shadow Bank Runs Begin as Private Credit Losses Spread

How does a $150 million loan go from “full value” to worthless overnight? Ask BlackRock. The collapse of Renovo Home Partners isn’t a one-off—it’s a crack in the illusion propping up trillions in private credit.

With redemptions accelerating and funds dumping assets at fire-sale prices, even so-called “safe” funds are folding. What started in the shadows is now bleeding into the mainstream. And when trust breaks, the Fed prints. Again.

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About ITM Trading: ITM Trading has spent nearly 30 years helping clients prepare for monetary resets, inflation, and systemic risk using physical gold and silver. We focus on education, historical context, and strategies designed to protect wealth when trust in the system breaks down.