patrick.net

Sometimes you just gotta print the money.

Someone on another thread asked "Why a country would need a Central Bank"?

They'll shore it up because DARPA shit in those SiCo Valley start ups.
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PRAISE ALLAH, HARRY & MEGHAN SAVED FROM FINANCIAL RUIN AND WON'T NEED TO GIVE HAND JOBS FOR CASH!!!!

RWSGFY says

PRAISE ALLAH, HARRY & MEGHAN SAVED FROM FINANCIAL RUIN AND WON'T NEED TO GIVE HAND JOBS FOR CASH!!!!

They won't be forced to "Abandon their privacy" and do more Netflix Specials on Mental Health and tell crap stories about dumb sibling arguments from their childhood

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Just checked Yahoo Finance page and S&P 500 futures still up. Looks like investors have confidence in there not being a banking and financial crisis.

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There is no match for the Fed bazooka, they'll just inflate their way out of this. Shorts already have made their money, it's very dangerous being short against the Fed

mell says

There is no match for the Fed bazooka, they'll just inflate their way out of this. Shorts already have made their money, it's very dangerous being short against the Fed

they'll keep the financial system propped up in order to keep the federal government solvent especially with debt to gdp ratio and debt service payments as a percentage of the federal government budget .... this allows the federal government to not have to enact drastic changes such as to entitlements

i agree as far as inflating out of a crisis as inflation is the tax ultimately for the middle and working class

i see the fed raising to 5.00% for the Fed Funds rate but no higher as they change their plan to go higher than 5.25% and they'll continue quantitative tightening

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https://rudy.substack.com/p/bill-ackman-personifies-everything

ad says

mell says

There is no match for the Fed bazooka, they'll just inflate their way out of this. Shorts already have made their money, it's very dangerous being short against the Fed

they'll keep the financial system propped up in order to keep the federal government solvent especially with debt to gdp ratio and debt service payments as a percentage of the federal government budget .... this allows the federal government to not have to enact drastic changes such as to entitlements

i agree as far as inflating out of a crisis as inflation is the tax ultimately for the middle and working class

i see the fed raising to 5.00% for the Fed Funds rate but no higher as they change their plan to go higher than 5.25% and they'll continue quantitative tightening

.

ad says

mell says

There is no match for the Fed bazooka, they'll just inflate their way out of this. Shorts already have made their money, it's very dangerous being short against the Fed

they'll keep the financial system propped up in order to keep the federal government solvent especially with debt to gdp ratio and debt service payments as a percentage of the federal government budget .... this allows the federal government to not have to enact drastic changes such as to entitlements

i agree as far as inflating out of a crisis as inflation is the tax ultimately for the middle and working class

i see the fed raising to 5.00% for the Fed Funds rate but no higher as they change their plan to go higher than 5.25% and they'll continue quantitative tightening

.

Agreed. I'm not for it but most countries of the world have embarked on a similar voyage, maybe at some point we have another economic system take over, but for the foreseeable future this is the MO. Plus it makes debt and debt to gdp relative if all countries are debtors of each other. It sucks for those without assets as it's continued devaluation of their currency/buying power, but most will take it over the fear of unemployment. It's very difficult to detach from this system or going Galt. But avoiding woke companies is not hard to do and is so worth it.

No one's saying unwinding the largest debt bubble in the world's history is going to be easy, or fun. But if we ever want to get out of debt-slavery, improve our standard of living, and be free, it's the only way. And it will happen regardless, hyperinflation is just a longer, more painful, and more explosive road to the same end. Of course they're hoping to keep all this up until they can have a planned collapse and transition over to CDBC, but early trials are a disaster. It won't happen.

Watched a financial analyst on local news, guy said two things ad-naseum. Deposits are ensured, and no reason to panic. I got the impression he's scared as shit of a loss of confidence tomorrow leading to further bank runs.

That bazooka doesn't mean dick if everyone pulls their money tomorrow. Confidence is what props up the lies, and it's fading fast.

ad says

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Now the crypto friendly bank, Signature Bank, has been shut down by the government

https://www.coindesk.com/policy/2023/03/12/crypto-friendly-signature-bank-shut-down-by-state-regulators-fed/

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So much for the SVB being isolated...

It gets better...
Eight years before the second-largest bank failure in American history occurred this week, the bank’s president personally pressed Congress to reduce scrutiny of his financial institution, citing the “low risk profile of our activities and business model,” according to federal records reviewed by The Lever.

Three years later — after the bank spent more than half a million dollars on federal lobbying — lawmakers obliged.
...
Touting “SVB’s deep understanding of the markets it serves, our strong risk management practices,” Becker argued that his bank would soon reach $50 billion in assets, which under the law would trigger “enhanced prudential standards,” including more stringent regulations, stress tests, and capital requirements for his and other similarly sized banks.

Becker insisted that $250 billion was a more appropriate threshold.
https://www.levernews.com/svb-chief-pressed-lawmakers-to-weaken-bank-risk-regs/

B.A.C.A.H. says

It's the reason, for my whole adult life, I only use "Silicon Valley" as a Pejorative.

I think this place has cut its own throat by getting into bed with the Intelligence agencies. I fully expect this place to be the next Detroit.

There is SO MUCH BULLSHIT here now. Tesla is just a dumb idea, electric cars are a dumb idea. So many companies just make bullshit that are ESG stupidity. Large firms are hiring frankly morons based on skin color, nationality, sexual and gender identity. I can SEE it starting to fall apart.

Twitter isn't going to recover. Youtube is dying on the vine. Google has become a 2nd, maybe 3rd tier search engine. Facebook is worthless, Twitter is worthless. There's no need for better and faster processors at least for the consumer market, and frankly we can't make the chips much faster anyhow.

And censorship is obvious, and it just drives people away. It's like IMDB, that used to be a great site, but since it was purchased, it just promotes the latest film, there's no discussion there, all the rating are fake and bullshit to the point people don't even use the site anymore. That's going to happen to every company pushing an agenda. I'm sure they have SHIT-TONS of money from the government to stay afloat, but they are going to be ignored. You can't force people to use these services, even if they are free.

The federal reserve will use this as an excuse to not raise rates, or at least only do a 25 basis point raise.

SVB (ticker symbol SIVB) has stopped trading. I'm disappointed that I can't watch the stock slide from 106.04 to zero while shorts cover (do they even need to do that?).

fucking nyse halting trades… faggots

cisTits says

Booger says

The federal reserve will use this as an excuse to not raise rates, or at least only do a 25 basis point raise.

Don't see how. This doesn't impact inflation or the money supply at all.

It does if they have to print money to cover the shortfall when they sell those MBS's at a steep discount and have to print money to make up the difference. But really it's probably not that much in the grand scheme of things so really isn't inflationary much, I would think.

Besides that, if the federal reserve raised rates 75 basis points, as they should, they would be doing the right thing. As history shows us, the federal reserve rarely, if ever, does the right thing and is always looking for an excuse to not do the right thing.

We've been running the entire country on excessive amounts of debt, and the banks were only too willing to create more opportunities to meet the demand while the regulators look the other way. Bankers always get more and more greedy, and in the end they can't control themselves. That's what's behind the insanity known as derivatives, whereby 'loans' are created using other loans as collateral.

The only answer out of this mess will be a Weimar Republic type inflation. We all know how that all worked out, providing an opportunity for a 'strong man' to make things right. Unfortunately his plan included war, which ended up killing over 50 million people. That may be what's next. Gerald Celente often states: "When all else fails, they take us to war."

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

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

zzyzzx says

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

Yes, I wasn’t impressed with their IT infrastructure.

https://www.cnbc.com/2023/03/13/goldman-sachs-no-longer-expects-the-fed-to-hike-rates-in-march.html

Goldman Sachs no longer expects the Fed to hike rates in March, cites stress on banking system

cisTits says

Don't see how. This doesn't impact inflation or the money supply at all.

Where do you think the money's coming from..?

https://www.cnbc.com/2023/03/12/stock-market-futures-open-to-close-news.html

Dow jumps 200 points as investors bet SVB shock will get the Fed to back off hikes

zzyzzx says

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

Prior to the attack on Pearl Harbor on December 7, 1941, 99%+ of Americans couldn't tell you anything about Pearl Harbor.

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.