patrick.net

zzyzzx says

So if you happened to have had a short position in Silicon Valley Bank, you don't even need to cover?

Short Sellers Make $500 Million on SVB’s Demise. Collecting Won’t Be Easy
One-day mark-to-market profit of $513 million on short bets

In this case, with this massive collapse, the shorts are all paper profits. These investors are going to have a lot of fun attempting to collect.

https://www.bloomberg.com/news/articles/2023-03-10/shorts-make-500-million-on-svb-demise-collecting-won-t-be-easy

Everyone here remembers '08 right? What a fucking huge mistake it was to bail out AIG and the banks? This is literally throwing gasoline on the fire. If you don't remember, prepare to get burned.

NuttBoxer says

Everyone here remembers '08 right? What a fucking huge mistake it was to bail out AIG and the banks? This is literally throwing gasoline on the fire. If you don't remember, prepare to get burned.

They never put out the fire, just contained it and now they are running out of hoses and extinguishers.

Now this should strike fear in you. I'm not buying anything that this guy is selling:

Biden Insists "The Banking System Is Safe"
https://www.zerohedge.com/markets/watch-live-president-biden-explains-resilience-us-banking-system

Reminder I had from watching that local financial guy last night. Whatever they tell you, it's the opposite. The more they say it, the more worried they are.

https://finance.yahoo.com/news/silicon-valley-bank-crisis-force-161835121.html

The Silicon Valley Bank crisis will force the Fed to slash rates by 100 basis points to prevent contagion, market guru says

Does that mean DARPA won't be able to fund the 'Flat Earth Disinformation Project' any more? I was rather fond of that one, it was only a round billion to launch, what a bargain to deceive and beguile the public from any meaningful truth.

RayAmerica says

Biden Insists "The Banking System Is Safe"

That tells me economic collapse incoming.

Plunge protection team hard at work, DOW, SNP, NASDAQ all dropped like a rock on the open today.

Just wait until the Canary Islands landslide of the Swiss banks occurs.

zzyzzx says

Any of you ever heard of Silicon Valley Bank before this? Because I haven't. Just curious.

Yes, it's a thing around here, or used to be.

https://shop.litquidity.co/products/t-shirt-silicon-valley-bank-risk-management-department-2023

On the MSM propaganda liar's scale, Robert Reich is somewhere between Don Lemon and Satan himself.

Ceffer says

Just wait until the Canary Islands landslide of the Swiss banks occurs.

I guess they happen often. Good that the customers never complain as they were stolen funds. “Customers” even come back with even more money for “safe heaven”.

For those who think the Federal Reserve is in complete control of interest rates:


https://tradingeconomics.com/united-states/repo-rate

Some of you may remember this being called out prior to the scamdemic(timing is no coincidence). Looks like it worked for a little while, but they just kicked the can, and that can's about to hit the wall.

Wow! I knew the SVB domino collapse would be impressive, but I didn't think it would look like this!

"More Banks Shut Down, the Domino Effect Continues"https://www.rumormillnews.com/cgi-bin/forum.cgi?read=218933

More lessons from the annals of DUHHHHHHHHHH!

Ceffer says

Wait, they owned SVB stocks too?

Our economy is run by a central bank. Which means it's a giant confidence game. Every bank that goes under erodes confidence. End result, our fourth central bank collapses.

For someone who claims central banking economics is not confusing, you seem a little lost in the weeds here...

EXCLUSIVE: Senator Mark Kelly Called For Social Media Censorship To Prevent Bank Runs
Democrats are demanding ever-more censorship in a widening social media panic
https://public.substack.com/p/exclusive-senator-mark-kelly-called

Rep Thomas Massie reported ditto:
https://twitter.com/RepThomasMassie/status/1635074378454147074?ref_src=patrick.net

https://news.sky.com/story/hsbc-buys-silicon-valley-bank-12832697

HSBC buys Silicon Valley Bank UK for £1 in deal which 'protects customers and taxpayers'
The bank used by tech companies and start-ups has a balance sheet worth £8.8bn yet was bought by Europe's largest bank for £1.

Not sure that's true, yet.

Misc says

Sometimes you just gotta print the money.

Sometimes is all-the-time for central banks. And yes that's why they exist, to fuck us all into the poor house. Still don't believe me? Just wait a bit longer.

NuttBoxer says

Our economy is run by a central bank.

All economies are run by central banks. There's nowhere to run.

Eric Holder says

NuttBoxer says

Our economy is run by a central bank.

All economies are run by central banks. There's nowhere to run.

It's easy to bankrupt the system. If every American purchased $50 worth of silver per year, that's the annual supply of silver.

The United States has 3 times revalued the US debt so that 1 billion troy ounces of gold approximately equaled the US national debt. The last time this happened was 1980 when gold his 800 dollars a troy ounce, and that national debt was about 900 billion dollars. It happened in 1936 and 1932 as well.

If it happened today, an ounce would be worth around $30,000 dollars and it will eventually happen.

richwicks says

It's easy to bankrupt the system. If every American purchased $50 worth of silver per year,

It's not easy to make every American to purchase $50 worth of silver per year. Hence it's not easy to bankrupt the system. At least not in the way described.

Eric Holder says

richwicks says

It's easy to bankrupt the system. If every American purchased $50 worth of silver per year,

It's not easy to make every American to purchase $50 worth of silver per year. Hence it's not easy to bankrupt the system. At least not in the way described.

Then I have no sympathy for them. The problem is that people run on auto-pilot and when the shit hits the fan they very same people scream "why didn't anybody warn me???" How many warning signs are needed?

A small country can bankrupt the system, however, they'd be bombed into the stone age, but some nation like Russia or China will do it in time.

We always return to a mean, in time.

richwicks says

some nation like Russia or China will do it in time.

Do what? Bankrupt their own system? Sure, Russia has already done it 2 times in 1 century.

Eric Holder says

richwicks says

some nation like Russia or China will do it in time.

Do what? Bankrupt their own system? Sure, Russia has already done it 2 times in 1 century.

No, become the creditors to the world.

The reason the United States ended up having the world's reserve currency is because the US was the LAST country to have gold convertibility. The Federal Reserve, as usual, created more money than they had coupons for (that's what a dollar used to be a COUPON for a certain amount of gold), and bankrupted themselves in 1971. We then went through massive inflation over 10 years, which culminated with, again, 1 billion ounces of gold being =~ the national debt.

richwicks says

Youtube is dying on the vine.

I disagree as I watch Youtube for finance and news. Youtube has not shut down independent and non-establishment shows like the Burnie Thompson Show and finance shows like Wealthion and Max Keiser.

And you can still watch your favorite Youtube video (Hitler Antiracist).

So Alphabet (aka: Google) has not yet started to suffocate Youtube via Woke.

.

richwicks says

A small country can bankrupt the system, however, they'd be bombed into the stone age, but some nation like Russia or China will do it in time.

Yup. Like CA should be bombed into the stone age. 5th largest "country" in the world on paper and they're dragging down the rest of us in America. They should lose all representation by the federal government. As a CA centric forum, you do realize that CA is a shit stain on the entire country, right? 80% of the country lives to the east of the Rockies, yet the CA dip shits have the most representation. Most businesses in CA don't turn a profit. It's all fucking around and buying nice houses and "things" for the "startups"

CA and specifically NYC (not NYS) are the ones bankrupting the country, with a slight dash of DC on top. These urban shit holes are draining this country. They produce NOTHING. All they do is produce high taxes and morons that they then elect into power with larger national representation. Pelosi, Schumer, AOC and many more. CA and NYC have produced the worst of the worse in Federal government. IL has lost any influence outside of Durbin, but used to be the same shit Federally. A lot of you guys let this happen if I'm being honest. Change could have been made is all I'll say.

WookieMan says

CA and specifically NYC (not NYS) are the ones bankrupting the country, with a slight dash of DC on top.

Yes, with great wealth apparently comes great corruption and stupidity, facilitated by the woke religion.

I pray that the tide turns and that men with integrity take over. It will happen eventually, but we may not live to see it.

ad says

I disagree as I watch Youtube for finance and news.

It's what you think is finance and news.

People are not allowed to point out bullshit on youtube. You might as well have told me you watch MSNBC for finance and news.

ad says

So Alphabet (aka: Google) has not yet started to suffocate Youtube via Woke.

Rumble, Bitchute, Gab, Odysee, Daily Mtion, D-live, and many others exist because Youtube has become pointless to large swaths of people. Youtube is useful for finding out what propaganda is being promoted and what the Overton Window currently is and that's it. There's no real news there.

WookieMan says

As a CA centric forum, you do realize that CA is a shit stain on the entire country, right?

Yes I do.

California would have been fucked if Trump was allowed to assume office. We're fucked anyhow. Federal government feeds us shitloads of bullshit money to keep operating. I wish the rest of the nation would cut us off.

The only way this state will correct, is if the free money ends. I'm in FULL support of that.

WookieMan says

CA and specifically NYC (not NYS) are the ones bankrupting the country, with a slight dash of DC on top. These urban shit holes are draining this country. They produce NOTHING. All they do is produce high taxes and morons that they then elect into power with larger national representation

We cannot verify the balloting system, and that is by design.

Camera are SO FUCKING CHEAP now, it's TRIVIAL to count the number of people entering a polling place. That gives an accurate count of the ballots BEFORE they are counted. It's EASY to have receipts for your vote. We no longer have exit polls.

I am going to be as direct as possible with this statement. We do not have a legitimate voting process. YOUR vote might count, if it was in a "place that doesn't matter", but we don't have a fucking vote.

Eric Holder says

All economies are run by central banks. There's nowhere to run.

I keep saying this, you seem to keep ignoring it. See Libya under Gaddafi. See Iran before the US intervention(multiple instances). See the United states at multiple points in our history(especially early 1800's, our most prosperous period). Tanzania...