Do you want to bet that the jackwagon author is reaping a good living peddling this tripe by AND accepting fiat currency as payment?
Posted on 03/10/2023 4:59:07 AM PST by Kaiser8408a
While waiting on the February jobs report from the US Bureau of Labor Statistics (BLS), I noticed that the big 4 banks (Bank of America, JPMorgan Chase, Citi and Wells Fargo) are drowning in net realized losses as The Federal Reserve combats 1) too many years of loose monetary policy under former Fed Chair Janet Yellen and 2) too much spending under Pelosi, Schumer and … McConnell.
At a micro level, we have Silicon Valley Bank (SVB) SVB Is racing to prevent a bank run as funds advise pulling cash.
Panic is spreading across the financial world as concerns about the financial stability of Silicon Valley Bank prompt prominent venture capitalists including Peter Thiel’s Founders Fund to advise startups to withdraw their money.
The turmoil followed a surprise announcement from Santa Clara, California-based SVB that it was issuing $2.25 billion of shares to bolster its capital position after a significant loss on its investment portfolio. The stock plunged 44% in premarket trading before exchanges opened in New York on Friday, set to extend its 60% decline on Thursday. Bonds had posted record declines, igniting a broad selloff in US bank shares that also spread to Asia and Europe. In the US, the KBW Bank Index on Thursday had its worst day since June 2020, as its members shed more than $90 billion of value. In Europe, the biggest banks lost more than $40 billion from their market caps on Friday.
Are banks the canary in the economic coal mine?
(Excerpt) Read more at confoundedinterest.net ...
they will blame it on crypto.
Robert Barnes Retweeted Genevieve Roch-Decter, CFA:
Peter Thiel advises companies to pull money from Silicon Valley Bank.
It’s the 15th largest bank in the U.S by deposits.
Stock down 60% today. Another 26% after hours.
Is this a classic bank run?
Robert Barnes Retweeted Joseph Wang:
Looks like the $150b of their deposits are uninsured. That means those people could lose everything if it goes under. They have an incentive to RUN.
Robert Barnes Retweeted Alf:
Please understand money.
Anything above $250k kept in a bank deposit is not your money.
It’s an unsecured liability of the bank.
What Is Happening to SVB? Bank Run Fear Spreads as Stock Tumble
They are going to argue for digital currency.
The hand...
I could search for “Dow Jones Industrial Average” and it gave me the numbers immediately on my phone 📱
In the past week or so Google search no longer gives the numbers but only “the news”.
This started happening 7 maybe 10 days ago.
Above 250K uninsured? Is that per account or total for one person?
Banks for the deep state, all.
Meanwhile, well-managed regional banks such as Key, First Commonwealth, Flagstar and Zion's are doing just fine.
Cutting off information in the name of preventing panic.
On this South Korean ferry, the officers on the bridge made loudspeaker announcements for passengers to stay in their compartments as the ship was sinking.
In the name of preventing panic...supposedly...while the crew escaped.
Crew = Elites
Passengers = Us Ordinary Peons
Sinking of MV Sewol
https://en.wikipedia.org/wiki/Sinking_of_MV_Sewol
[Excerpt] As Sewol began sinking, the ferry’s intercom system started ordering the passengers to stay put, alleging that moving was dangerous. The announcements were made by a communication officer, Kang Hae-seong, who had not consulted the manual before the broadcast. The announcements began broadcasting by at least 8:52 a.m. and continued even when water began flooding passenger compartments. Other crew members corroborated this order, instructing passengers to stay put. Captain Lee also instructed passengers to stay put and did not change the order even as he himself was leaving the ship.
Do you want to bet that the jackwagon author is reaping a good living peddling this tripe by AND accepting fiat currency as payment?
Goolag.
Per person. If you have multiple accounts, an individual is only covered to the max.
SVB is heavily invested in crypto.
bkmk
Why does the government send billions to the Ukraine when banks need support BECAUSE THEY BOUGHT TREASURY BONDS???
(Cutting off information in the name of preventing panic.)
That’s exactly how I read it, too.
Yeah
The Titanic, Part Two
Yikes 😳
SVB is often talked about in Silicon Valley as how to fund your Startup.
I wonder if the root cause is Facebook...
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