patrick.net

Patrick says

People about to lose their jobs:

https://twitter.com/pdubdev/status/1634726928040214530?ref_src=patrick.net

I'd bet a testicle there's not a single white heterosexual male that works as a diversity and inclusion officer anywhere in the world.

richwicks says

I'd bet a testicle there's not a single white heterosexual male that works as a diversity and inclusion officer anywhere in the world.

There is no one competent to do anything useful who works as a DIE officer:

https://boriquagato.substack.com/p/the-glorification-of-sub-mediocrity/

The whole thing exists solely to protect and promote incompetence, because incompetent people are fearful that their incompetence will be exposed.

This explains so much about America lately. We literally have a government staffed by people selected for their extreme incompetence, so as not to threaten the jobs of the merely incompetent people above them.

Eric Holder says

Their supposed merits aside, you aren't seriosly proposing to run to Lybia under Gaddafi or Iran some 60 years ago, are you? Or US in the early 1800s? How? There is no time machine.

Gotcha. Just saying it has happened, during our lifetime, and will happen again. Could certainly be going on now, I'm not familiar with every countries/islands finances. Iran's central bank is not part of the Rothschild system, which is why they face so much constant pressure from other countries, mostly the US. Tanzania was on the road to financial prosperity under Magufuli, very similar to Libya, but he made fun of Covid and wound up dead.

https://nypost.com/2023/03/14/obama-aide-hillary-donors-improv-actor-meet-svbs-board/

The group’s lack of banking expertise is likely to be a focus for investigators. Just one current member — King — has had a career at the top of the investment banking world.

What is clear is that the bank, and much of the board, burnished their Democratic credentials as part of their strategy.

Short term (3 month) TBill rates pretty much the same as they were last week.

Yeah it's a scandal but it was clear they would bail out the lefties. They will bail out pretty much anyone who threatens to bring the system down. And the insurance system works, so you have to balance your money in different accounts and types across different banks and never bank with woke, inc. It's far from a perfect system, but it works. And insured depositors should always get their money back, that's what insurance is for. The market had 2 beautifully green days. Went quite deep in Friday and bought with some 3% apr super-checks/cash advance and some savings. Who knows how long the banks will keep sending you 3% balance transfers / cash advances? Gotta take em while they're offering it. Time to transfer some money back.I think they should not have bailed out the uninsured depositors, incl. anything over 250K, but to think they won't go for bailout is naive. Now there may be more banks in stress and the roller coaster / volatile market will continue, so there are probably plenty of short or selling opportunities, but you don't short one the Fed signals a bailout. They have the printer, you don't. Go long then.

NuttBoxer says

Eric Holder says

Their supposed merits aside, you aren't seriosly proposing to run to Lybia under Gaddafi or Iran some 60 years ago, are you? Or US in the early 1800s? How? There is no time machine.

Gotcha. Just saying it has happened, during our lifetime, and will happen again.

I'm not really sure I'd like to live in Gaddafi's Lybia, tbh, central bank or not.

NuttBoxer says

Could certainly be going on now, I'm not familiar with every countries/islands finances. Iran's central bank is not part of the Rothschild system, which is why they face so much constant pressure from other countries, mostly the US. Tanzania was on the road to financial prosperity under Magufuli, very similar to Libya, but he made fun of Covid and wound up dead.

But they did have a central bank even under that M dude.

If you thought SVB was bad ... The Fed is sitting on unrealized losses of ~$1.2 trillion on their $8.3 trillion bond portfolio.

And the Fed is losing money every day by paying $$$ to commercial banks via reverse repos.

The Federal Reserve is technically bankrupt.

In 2023 the Fed will post its first annual operating loss of $80 billion since 1915. It will have a negative capital of $38B.

This loss does not count the $1.3 trillion unrealized loss on its portfolio.

I think he will try to save the US dollar because if inflation turns hyper the US will lose global reserve currency status.
How will America fund its deficits if nobody else wants to but the debt?
What does America produce that the rest of the world wants?

charlie303 says

The Federal Reserve is technically bankrupt.

In 2023 the Fed will post its first annual operating loss of $80 billion since 1915. It will have a negative capital of $38B.

This loss does not count the $1.3 trillion unrealized loss on its portfolio.

There are many domestic and foreign buyers of US debt whose best interest is to get paid, even in devalued fiat. They will simply print the money they need and since all countries engage in the same crap, debt is relative, and there will be eventual mutual debt forgiveness. The real problem is when you don't have enough doers/makers anymore (worldwide), and goods become so expensive as nobody is making them anymore, then you see hyperinflation. But we're far far away from it. Also technological advances that make producing easier counteract this a bit. So the only effect you see is the continued devaluation of the dollar and the lower and middle class, aka those without substantial assets, getting screwed/losing buying power. There will be no dramatic crash as long as the US has no problems auctioning off its debt/notes, and keep in mind this is relative to other countries, the US is probably still one of the best debtors. Look at the EU, they were hardly able to raise their rates from zero, hence the weak EUR, which is finally gaining against the dollar again.

Putting things in perspective on bank failures. Then and now. Now is missing Silvergate Bank in the picture.

Question is, who is behind these demolitions, the black hats trying to false flag us into demonic Globalist CBDC, or white hats imploding the demons for some reason. Yellen lies even less well than BidenActorFuck, all gaslighting and bullshit. Another evil crockmeister.

Eric Holder says

I'm not really sure I'd like to live in Gaddafi's Lybia, tbh, central bank or not.

With the target he put on his back for the US, plus what MIC was already doing the region, yeah. But that wasn't Gadafi or Libya.

@EricHolder Got me curious, here are a few lists:

"https://commons.wikimedia.org/wiki/File:Countries_without_Rothschild_Bank.png"
"https://commons.wikimedia.org/wiki/File_talk:Countries_without_Rothschild_Bank.png"
https://www.thehealthyjournal.com/frequently-asked-questions/which-countries-do-not-use-a-central-bank

As specifically mentioned, the first link is not looking for the absence of a central bank, merely for one not under Rothschild/old European family influence. And when you look at the other list, Marshall Island are I believe under US control due to our military, so I'd imagine their economy is heavily influenced by ours. And how many people can afford to live in Monaco? It's a haven for those who run these banks. Finding a truly un-polluted economy is not easy now days.

Eric Holder says

I'm not really sure I'd like to live in Gaddafi's Lybia, tbh, central bank or not.

You would rather live in Qaddafi's Libya than today's Libya which the US created. Qaddafi was no angel, but in comparison to what the US installs as dictators, he was a benevolent dictator.

Eman says

Putting things in perspective on bank failures. Then and now. Now is missing Silvergate Bank in the picture.

Adjust for inflation since then. Comparing 2006 to 2023 is vastly different. It looks big now, but it's really not. Also the banks closing had their hands in the crypto game which lost 78% of value since its peak around December. A lot of people and businesses lost their asses in that realm. It wasn't a bank run, they had to pay bills and the funny money in crypto was gone. So they took their deposits out to keep businesses afloat.

Factor in FTX which was all in the same realm of investment and you have a shit storm. We have the tech bust in 2001, housing bust in 2007 (ish) and this will go down as the crypto bust. Unfortunately it's dragging tech into it, but that was their own doing.

Also I think media is another branch in this shit tree. The money isn't going to your typical players. Tech has allowed anyone to generate ad revenue. CNN is literally close to going out of business. What once seemed like a powerhouse of news is bleeding out as it likely crawls to its grave. Same goes for other networks. No one watches TV actively anymore. The ads are worthless.

WookieMan says

Eman says

Putting things in perspective on bank failures. Then and now. Now is missing Silvergate Bank in the picture.

Adjust for inflation since then. Comparing 2006 to 2023 is vastly different. It looks big now, but it's really not. Also the banks closing had their hands in the crypto game which lost 78% of value since its peak around December. A lot of people and businesses lost their asses in that realm. It wasn't a bank run, they had to pay bills and the funny money in crypto was gone. So they took their deposits out to keep businesses afloat.

Factor in FTX which was all in the same realm of investment and you have a shit storm. We have the tech bust in 2001, housing bust in 2007 (ish) and this will go down as the crypto bust. Unfortunately it's dragging tech into ...

I see where we don’t see eye to eye. We’ve had only 3 bank failures…..so far…..compared to all the bank failures during the GFC. Will we have more bank failures? I hope NOT! I hope J Powell and Yellen put an end to the bank runs with their joined statement on Sunday. 🙏

Eman says

I see where we don’t see eye to eye. We’ve had only 3 bank failures…..so far…..compared to all the bank failures during the GFC. Will we have more bank failures? I hope NOT! I hope J Powell and Yellen put an end to the bank runs with their joined statement on Sunday. 🙏

The FDIC keeps a list of shuttered banks going back a good ways. There have been many that have gone under between 2012 and 2022. The central bankers only have two weapons, inflation and bullshit. Is that really your savior..?

https://babylonbee.com/news/congress-takes-brief-pause-from-sending-all-of-your-tax-dollars-to-ukraine-to-send-them-to-silicon-valley-bank

https://babylonbee.com/news/biden-admin-promises-to-tax-silicon-valley-billionaires-on-all-the-money-the-federal-government-just-gave-them

Lol, FDIOU

Patrick says

The problem isn't the "bailout" - it's just making depositors whole.

The problem is that nobody is going to be prosecuted. That's the problem. People need to go to fucking jail. Instead they will just pay a fine. SVB was making wreckless and irresponsible bets. This USED to be prevented by Glass–Steagall. This is a failure of regulators and our criminal government. Put these assholes in jail or it's just going to happen again.

Is Sam Bankman Fried in jail yet?

This is all happening because nobody went to jail with widespread mortgage fraud in the early 2000's.

richwicks says

Patrick says

The problem isn't the "bailout" - it's just making depositors whole.

The problem is that nobody is going to be prosecuted. That's the problem. People need to go to fucking jail. Instead they will just pay a fine. SVB was making wreckless and irresponsible bets. This USED to be prevented by Glass–Steagall. This is a failure of regulators and our criminal government. Put these assholes in jail or it's just going to happen again.

Is Sam Bankman Fried in jail yet?

This is all happening because nobody went to jail with widespread mortgage fraud in the early 2000's.

Agreed. You want that high paying high responsibility job? You need to be prepared to go to jail if you fuck it up.

Collin Rugg
@CollinRugg
·
22h
BREAKING: Gavin Newsom failed to disclose personal ties including his bank accounts at Silicon Valley Bank while lobbying for their bailout.

This is illegal.

Patrick says

This is illegal.

....and nothing will come out of that. One set of rules for peasants, another one for aristocracy.

The next step of these lemon socialism massive bank frauds is to selectively restore some customers but not others through an esoteric process of political fraud, while all the executives stroll off with their multi millions in plunder, maybe have to do a token discovery session some where down the road, but are left to rinse and repeat at other financial institutions.

It's institutionalized plunder with the captured government and selective justice and regulatory agencies complicit.

Listening to Yellen for the first time, she's a gaslighting POS worthy of the Actor Biden administration, a complete charlatan.

Credit Suisse is next, apparently. If they goes under, it will be much worse.

Bd6r says

Credit Suisse is next, apparently. If they goes under, it will be much worse.

There have been plenty of bad banks constantly rumored to fail, SVB, 1st Republic, Credit Suisse, Deutsche Bank are the usual suspects and shit banks. But if they are big enough they will be bailed out every single time, and I count CS and DB as too big to fail, at least not without some sort of depositor bailout.