Posted on 03/12/2023 4:17:39 PM PDT by ConservativeMind
YES! And the money they will be printing to cover up this theft will cause another increase in inflations. So, get ready.
The FDIC insurance fund had at least $121 Billion dollars in it, as of last year:
I was off there but they still are far form insuring all the money in all the banks.
I’ve never fully understood big markets and finances, so all I know is if I want to get all of my small (under 100k) savings out of the bank, the government won’t let me withdraw 10k or more at one time. So how do I get my money out? Besides, by the time I could get it all out (if ever) it won’t be worth a warm bucket of spit thanks to inflation. (I have a small 401k and money in two different banks.
They don’t care about “all the money.”
They only care about $250,000, per account.
You can lose all the rest.
Shady wrote:
“
When the futures market open at 20:00 hours (17 minutes from now) we’ll get a little taste for what lies ahead.
Once again, this is all by design.
“
Many thanks; let us know what happens.
Two things are happening with this situation.
1. The primary depositors with huge amounts of money to lose are primarily tech companies. The Dems are trying to earn favor with big tech.
2.Tech essentially was promoting the possibility that more bank runs were to come in order to be bailed out. Big time intimidation….and it worked.
EBH wrote:
“
BlackRock Inc. has filed a 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 5,147,972 shares of SVB Financial Group (SIVB). This represents 8.8 percent ownership of the company. In their previous filing dated February 1, 2021, the investor reported owning 4,252,565 shares and 8.20 percent of the company, indicating an increase in shares of 21.06 percent and an increase in total ownership of 7.32 percent. The investor has filed 13 13D or G filings since February 10, 2012.
Top holders of SVB Financial Group sourced from 13F and NPORT filings include:
Vanguard Group Inc with 6,078,924 shares (10.35% ownership)
BlackRock Inc. with 5,059,688 shares (8.61% ownership)
State Street Corp with 2,835,786 shares (4.83% ownership)
Jpmorgan Chase & Co with 2,198,909 shares (3.74% ownership)
Capital International Investors with 2,055,844 shares (3.50% ownership)
Royal Bank Of Canada with 1,715,975 shares (2.92% ownership)
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares with 1,604,790 shares (2.73% ownership)
Alecta Pensionsforsakring, Omsesidigt with 1,296,500 shares (2.21% ownership)
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares with 1,280,976 shares (2.18% ownership)
Invesco Ltd. with 1,238,752 shares (2.11% ownership)
Many thanks; what percentage levels are the danger zone, where the holders can be adversely affected?
It’s all “Funny Money” anyway...
Investor Kevin O’Leary breaks down the Silicon Valley Bank collapse
https://www.foxnews.com/video/6322321979112
SVB execs sell stock ahead of collapse as part of a pre-planned program
https://www.youtube.com/watch?v=9pQqZG8sJAc
From CNBC reporting:
Sun. 11am:
Former FDIC Chair Sheila Bair said Sunday that finding a buyer for SVB is “the best outcome.”
Bair said the FDIC could help companies with payroll in the case that there’s a systemic risk exception, which would be “an extraordinary procedure.” -——She said she thinks it is going to be “hard to say that this is systemic in any way.”-——
Sun. 6pm:
-——The Treasury Department designated both SVB and Signature as systemic risks,-—— giving it authority to unwind both institutions in a way that it said “fully protects all depositors.” The FDIC’s deposit insurance fund will be used to cover depositors, many of whom were uninsured due to the $250,000 cap on guaranteed deposits.
Along with that move, the Federal Reserve also said it is creating a new Bank Term Funding Program aimed at safeguarding institutions affected by the market instability of the SVB failure.
A joint statement from the various regulators involved said there would be no bailouts and no taxpayer costs associated with any of the new plans. Shareholders and some unsecured creditors will not be protected and will lose all of their investments.
“Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system,” said a joint statement from Federal Reserve Chair Jerome Powell, Treasury Secretary Janet Yellen and FDIC Chair Martin Gruenberg.
Thank you for the update.
I don’t like how this was handled, and it doesn’t sound legal.
Is there another country that has a “donor community”?
Is there another country that has a “donor community”?
Well, we have had 3 in less than a week?
Let’s see what the next few days bring. The narrow view is we have to save the banks, the wider view is if do nothing the entire delicate global economy crashes.
The only potential winners here will be the BRICS.
so for the ‘let it fail’ crowd of a merchant bank, the implications are actually pretty grave...
BUT, everyone needs to understand this is the canary
Emphasis on this point.
Here's to the end of bankstering FED fiat, and if the US doesn't go full BRICS+++, let the US go PM-backed, as JFK/DJT/others wanted.
You can read up on her career, a past (Clinton Appointed) Federal Reserve Chairman herself...
Janet Yellen - Wikipedia
https://en.wikipedia.org/wiki/Janet_Yellen
Supposed to be VERY SMART people running the Fed.
“Unintended Consequences” . . . :<<<
Bailouts are back !!!
Feds bail out tech bros
Federal authorities bailed out depositors in Silicon Valley Bank (NASDAQ:SIVB) and Signature Bank (NASDAQ:SBNY), aiming to head off a run on the country’s second-tier regional banks.
The Federal Reserve, Federal Deposit Insurance Corporation and the Treasury said they will make sure the two banks honor all of their deposits, the vast majority of which are above the $250,000 federally-insured threshold.
They also set up a new instrument, named the Bank Term Funding Plan (BTFP), which will allow banks to sell Treasury bonds and other high-quality liquid assets to the Fed at par if they need to raise liquidity. The program will be back-stopped by $25B of taxpayers’ money.
The move means that the banks’ clients, many of them venture capitalists and crypto platforms, will not have to carry the can for what appears to have been startlingly elementary risk management failures at the two banks.
Because of the “intervention” futures were up, it’s now 9:33 am and the Dow is down 200+..
That is the news for the public, the question is what is going on we are to being told about.
The fact the Dow is “down” effectively means that there are few buyers. There are few buyers because they are watching to see what happens.
AP:
On Monday, Powell announced that the Fed would review its supervision of Silicon Valley to understand how it might have better managed its regulation of the bank. The review will be conducted by Michael Barr, the Fed vice chair who oversees bank oversight, and will be publicly released May 1.
“We need to have humility,” Barr said, “and conduct a careful and thorough review of how we supervised and regulated this firm and what we should learn from this experience.”
Silicon Valley’s CEO, Greg Becker, in the past had lobbied Congress for a lighter regulatory touch, and he served on the board of the Federal Reserve Bank of San Francisco until the day of the Silicon Valley collapse.
“I’m at a loss for words to understand how this business model was deemed acceptable by their regulators,” said Aaron Klein, a congressional aide who worked on the Dodd-Frank banking regulation law that was passed after the 2008 financial crisis.
This is Good. From Cold Fusion:
Silicon Valley Bank, Signature Bank and Silvergate bank have all collapsed throwing up a warning signs that something horrible is happening in the economy. But what’s the truth here? This is a story of incompetence, a changing economic environment and political lobbying.
https://www.youtube.com/watch?v=OU72wcPyUfM
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