patrick.net

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.

Patrick says

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.

https://theintercept.com/2023/03/14/cheering-silicon-valley-bank-bailout-gavin-newsom-doesnt-mention-hes-a-client/

https://therealdeal.com/national/2023/03/14/ny-multifamily-industry-fears-bank-contagion/

NY Multifamily Fears Fallout from Signature Bank Collapse: One condo developer said panic also grew around condo deposits this weekend, as many law firms used the bank’s escrow services.

Days before Signature Bank collapsed, Danny Fishman was scrambling to move hundreds of his buildings’ deposits. The goal: have no more than $250,000 — what the federal government insures — in any account.

Fishman, whose New York-based Gaia Real Estate has over 18,000 apartments, clocked 18-hour days this weekend yanking funds from regional banks, including Signature, and moving money into larger institutions he hoped would be better insulated against the turmoil in the financial sector.

https://www.barrons.com/articles/svb-recession-signal-yield-curve-banks-93fa5227

SVB’s Collapse Shows the Yield Curve Is Always Right

Sounds like Credit Suisse is about to go under, or the Euro is on it's way to hyperinflation, SNB bailout not working...

Also First Republic going to be the 3rd bank shuttered, likely this week or next.

And then there's this:

After reading reports about how small tech startups have been withdrawing more bank deposits to financially survive, I thought about what richwicks said about government funding (i.e., Pentaon/intel agencies, etc.) is what is keeping Silicon Valley no better than semi-solvent. Then I read this article which goes to what he mentioned.

https://www.defenseone.com/business/2023/03/pentagon-mobilized-support-tech-startups-after-bank-failure/384033/

,

Above: "Get those numbers up!"

https://www.americanbanker.com/news/banks-tap-federal-home-loan-bank-system-for-90-billion-in-liquidity

https://babylonbee.com/news/bank-learns-hard-lesson-that-if-they-invest-their-money-irresponsibly-the-government-will-bail-them-out

https://babylonbee.com/news/man-struggling-to-feed-family-just-glad-he-could-help-bail-out-bank

https://texasbreaking.com/2023/03/silicon-valley-bank-73-million-donated-to-black-lives-matter-is-it-the-reason-why-banks-collapse/

Silicon Valley Bank offered nearly $73 million to Black Lives Matter-related social justice organizations in the years preceding its failure, while Signature Bank gave $850,000. A database maintained by the conservative Claremont Institute reveals that SVB contributed over $73,450,000 to the movement and other social justice organizations in an effort to improve its Environmental, Social, and Governance grade. In the meantime, New York-based Signature Bank gave a total of $850,000 over the course of several years prior to its failure on Sunday.

From https://dc.claremont.org/blm-funding-database/

https://www.svb.com/globalassets/library/uploadedfiles/dei-at-svb_october-2020.pdf
https://www.svb.com/globalassets/library/uploadedfiles/content/corporate/2021-proxy-statement.pdf
https://www.svb.com/globalassets/library/managedassets/pdfs/svb_csr-2020-report_092220_digital_final.pdf
https://www.svb.com/globalassets/library/uploadedfiles/wef-index.pdf
https://www.svb.com/globalassets/library/uploadedfiles/tcfd-report.pdf
https://www.svb.com/news/company-news/svb-financial-group-announces-$112.2-billion-community-benefits-plan
https://www.svb.com/globalassets/library/uploadedfiles/svb-corporate-responsibility-report-2021.pdf
https://www.svb.com/globalassets/library/uploadedfiles/wef-index-2022.pdf
https://www.svb.com/news/company-news/silicon-valley-bank-commits-to-$5-billion-in-sustainable-finance-and-carbon-neutral-operations-to-support-a-healthier-planet

I don't see any explicit mentions of donations to BLM, but do see a lot of wokeness.

Clearly SVB was emphasizing DIE over competence:

https://www.svb.com/about-us/living-our-values

Building a Culture of Diversity, Equity and Inclusion at SVB

https://www.svb.com/about-us/living-our-values/diversity-equity-inclusion

https://www.svb.com/globalassets/library/uploadedfiles/diversity-equity-and-inclusion-at-svb_january-2023.pdf

Patrick says

Clearly SVB was emphasizing DIE over competence:

https://www.svb.com/about-us/living-our-values

Building a Culture of Diversity, Equity and Inclusion at SVB

https://www.svb.com/about-us/living-our-values/diversity-equity-inclusion

https://www.svb.com/globalassets/library/uploadedfiles/diversity-equity-and-inclusion-at-svb_january-2023.pdf

#fuckingmorons

https://www.dailymail.co.uk/news/article-11854497/SVB-hired-woke-board-obsessed-diversity-invested-5BN-healthier-planet.html

Go woke go broke! SVB hired board obsessed with diversity, invested $5BN for 'healthier planet' and held month-long Pride celebration - but had NO chief risk officer for eight months last year
Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups
But for eight months last year, the bank did not have a chief risk operator
At the time, it was investing clients' money in low-interest government bonds and securities that saw their value fall when interest rates rose

A relative pointed out that no one seems able to document the "$73 million to Black Lives Matter-related social justice organizations" and that it's misinformation put out by Fox News. My response:

I can't find any confirmation of how much they gave to BLM, but it seems unlikely to me that they did not donate, given how openly woke they were:

https://www.svb.com/globalassets/library/uploadedfiles/diversity-equity-and-inclusion-at-svb_january-2023.pdf

I read a very convincing explanation of the psychology behind that here:

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

The point being that people in positions of great responsibility must be hired on competence alone, utterly without regard to race, not only for the protection of the public, but because discrimination in employment based on race is illegal, and because hiring based on race makes everyone rightly suspicious of the competence of minorities in positions of power.

Patrick says

and that it's misinformation put out by Fox News.

It wasn't "put out" by Fox, but by the organization you linked to above. If you search you'll see this story was picked up by the NY Post, UK Dailymail, Newsweek, every propaganda organization on the planet. So your relatives assertion, while correct about the SVB BLM connection being unproven, definitely belies their strong false paradigm world outlook, with all it's bullshit close-mindedness.

.

from USA Today

"Ohio's State Teachers Retirement System took the biggest hit losing $27.2 million. But that's just 0.03% of its portfolio."

.