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Silicon Valley Bank Goes Under, Won't be the Last...


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2023 Mar 10, 9:47am   43,892 views  326 comments

by fdhfoiehfeoi   ➕follow (0)   💰tip   ignore  

To get out of the collapse in 2008, apparently the plan was to never raise interest rates again. Now that it's impossible, the bubble is moving to banks. Funny thing is, I had applied for an open position with them about a month ago. Now I know why I never heard back...

Oh yeah, and to once again blow away the bullshit about everyone being insured, read the article about how some depositors will have to pray dividend sales will someday return their deposits to them.

For some fun search bank run and see what some of the top images are.

https://www.zerohedge.com/markets/300-billion-reasons-why-svb-contagion-spreading-broader-banking-system


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124   zzyzzx   2023 Mar 13, 7:59am  

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
125   fdhfoiehfeoi   2023 Mar 13, 8:02am  

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..?
126   zzyzzx   2023 Mar 13, 8:24am  

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
127   RayAmerica   2023 Mar 13, 8:52am  

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.
128   RayAmerica   2023 Mar 13, 9:03am  

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
129   fdhfoiehfeoi   2023 Mar 13, 9:18am  

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.
130   ElYorsh   2023 Mar 13, 9:29am  

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.
131   RayAmerica   2023 Mar 13, 10:15am  

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
132   fdhfoiehfeoi   2023 Mar 13, 10:46am  

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.
133   zzyzzx   2023 Mar 13, 10:50am  

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
134   Ceffer   2023 Mar 13, 10:52am  

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.
135   RC2006   2023 Mar 13, 10:58am  

RayAmerica says

Biden Insists "The Banking System Is Safe"


That tells me economic collapse incoming.
136   fdhfoiehfeoi   2023 Mar 13, 11:17am  

Plunge protection team hard at work, DOW, SNP, NASDAQ all dropped like a rock on the open today.
137   Ceffer   2023 Mar 13, 11:22am  

Just wait until the Canary Islands landslide of the Swiss banks occurs.
138   Patrick   2023 Mar 13, 11:25am  

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.
141   Ceffer   2023 Mar 13, 11:33am  

On the MSM propaganda liar's scale, Robert Reich is somewhere between Don Lemon and Satan himself.
142   Blue   2023 Mar 13, 11:41am  

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”.
143   fdhfoiehfeoi   2023 Mar 13, 11:47am  

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.
144   Ceffer   2023 Mar 13, 12:18pm  

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

145   Ceffer   2023 Mar 13, 12:22pm  

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


147   Ceffer   2023 Mar 13, 12:40pm  

More lessons from the annals of DUHHHHHHHHHH!

149   Eric Holder   2023 Mar 13, 12:43pm  

Ceffer says






Wait, they owned SVB stocks too?
150   fdhfoiehfeoi   2023 Mar 13, 1:47pm  

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...
151   AmericanKulak   2023 Mar 13, 2:01pm  

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
153   Patrick   2023 Mar 13, 2:02pm  

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.
154   Patrick   2023 Mar 13, 2:03pm  




Not sure that's true, yet.
155   fdhfoiehfeoi   2023 Mar 13, 2:05pm  

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.
156   Eric Holder   2023 Mar 13, 2:11pm  

NuttBoxer says

Our economy is run by a central bank.


All economies are run by central banks. There's nowhere to run.
157   richwicks   2023 Mar 13, 2:41pm  

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.
158   Eric Holder   2023 Mar 13, 2:42pm  

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.
159   richwicks   2023 Mar 13, 2:51pm  

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.
160   Eric Holder   2023 Mar 13, 3:21pm  

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.
161   richwicks   2023 Mar 13, 3:24pm  

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.
162   AD   2023 Mar 13, 3:55pm  

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.

.
163   WookieMan   2023 Mar 13, 4:30pm  

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.

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