Banking failure

[sumdumguy]

Maybe bank went all-in on bitcoin and lost the code. 😂

[errolanderson]

Listening a round table discussion including Mark Cuban this morning. Apparently, SVB is the 2nd largest bank failure in U.S.history.

Indications are (from discussion) more banks are likely going to go down. Payrolls may not be made in some cases. Bank industry turmoil.

Record credit card debt and car loans are flash points. U.S. innovation will suffer a setback with many banks tied into SVB (from discussion).

Many more questions than answers. Have central bankers (The Fed) totally blown it? Participants suggest regulators to blame. Also, a lot of greed and risk-taking appear imploding (according to participants).

[biglentil]

Investors need to be calmed over the weekend or risk Meltdown Monday. Top of cattle market as well?

Gold had a big day Friday Errol, commodities seen as a safe haven. The beef market is tight on the supply side I don't see a pull back coming, like booze and cigarettes demand is somewhat inelastic.

[Old Cowzilla]

Cattlemen see meltdowns about twice as often as the rest of the business world.

[errolanderson]

Investors need to be calmed over the weekend or risk Meltdown Monday. Top of cattle market as well?

[biglentil]

In a world of HFT and derivatives things can get ugly quick. USDC has lost its peg since my last post. Could be nothing:

[Old Cowzilla]

Investment in food production is starting to look better every day.

[errolanderson]

Friday, March 10, 2008 Bear Sterns crisis erupted. Sunday, March 12. 2008 Bear Sterns acquired by JP Morgan.

SVB collapses March 8, 2023, acquired by regulators. Who will purchase this week? Similarities uncanny. This fallout continues . . . .

LEHMAN BROS 2.0

[TOM4CWB]

Bloomberg report on Canadian Bank effects:






Cheers

[biglentil]

Contagion rearing its ugly head. The only thing stable about stablecoin USDC $43 billion market cap is its name.

[biglentil]

Harper had bail in on his budget.

Wouldn't surprise me Harper also cozy with WEF.

[jazz]

What about cash in a corporate account, how much is insured.

[biglentil]

They will use the financial crisis as an excuse to usher in CBDC, UBI and digital id. Surest way to communism is destroying the wealth of the middle class.

[TASFarms]

Tom I wrote about this a few months ago. Cdic only has assets on its books to insure about half a percent of all deposits on its books. It provides false sense of security that your money, which is infact not money at all is safe in these highly leveraged banks. None of this should be a surprise. I posted a video about a month ago of a fdic committee discussing the inevitable bank runs to come. Bail ins are next, buckle up.

Trudeau put 'bail in' legislation through in 2018. This is all scripted.

Harper had bail in on his budget.

[biglentil]

US FDIC shut down Silicon Valley…

They have 151$Billion in uninsured deposits… all the tech layoffs are coming home to roost…. Money not going in as fast as being withdrawn…

$250K limit on insured deposits… in the US…

CDIC in Canada… $100K! At Chartered Banks…

What insanity. Why isn’t the limit $1Million????

Land is worth 10x 2000 levels…. Combines and Tractors… close to the same….



Trust the Government????

Cheers

Tom I wrote about this a few months ago. Cdic only has assets on its books to insure about half a percent of all deposits on its books. It provides false sense of security that your money, which is infact not money at all is safe in these highly leveraged banks. None of this should be a surprise. I posted a video about a month ago of a fdic committee discussing the inevitable bank runs to come. Bail ins are next, buckle up.

Trudeau put 'bail in' legislation through in 2018. This is all scripted.