H/T Ymani Cricket
All I know is I went to bed last night pretty much broke and I woke up this morning with most of it left.
Insured deposits are only insured to $250,000.
That’s all.
Most of the SVB depositors are going to take a hit. A big one.
If it can be proven that the FDIC incurred undue expense because of recent account-holder membership, perhaps the Feds can FINALLY go after Jim Cramer.
JUST IN: President and CEO of collapsed Silicon Valley Bank Greg Becker was a Class A director at the San Francisco Federal Reserve, Reuters reports.— Watcher.Guru (@WatcherGuru) March 11, 2023
BREAKING: Circle confirms $3.3 billion of the ~$40 billion $USDC reserves are in collapsed Silicon Valley Bank.— Watcher.Guru (@WatcherGuru) March 11, 2023
If you have not done so, take out ALL of your cash and buy real silver and gold. There are many sources that will deliver directly to your door securely , UPS or FED EX ground, signature delivery only.
This is one of them.
https://store.firstmajestic.com/
H/T Ymani Cricket
So if FDIC is going to cover all this loss, where does their money come from. Where is it parked?
My wife found out about a month ago that our bank, which had told us our money was all insured, had let information that my wife picked up and investigated, found only about a quarter of it or less was insured.
(this discovery predated the current issue with this Silicon Valley bank)
When we went to the bank for an appointment to discuss it today, I was sitting in the office, and reading a placard on the desk that said:
“FDIC...Backed by the faith and security of the US Government.”
I stared at that for a long time, and the more I looked at it, the more absurd it sounded to me.
There is no faith. Definitely no faith.
There is no security. Definitely no security.
Jim Cramer Tells People To Buy Silicon Valley Bank’s Stock Just Before It Collapsed! Of Course!