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Mar 10, 2023 | 12:52
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I had never heard of Silicon Valley Bank until today, and was surprised to see that it is the 18th largest bank in the U.S. with over $200 billion in assets.
The trip from "good cash flow" to "lost 60% of its value" to "in receivership" took about 2 days.
Another Bear Stearns moment.
This is what zero percent interest rates get you.
https://www.zerohedge.com/markets/expect-mass-layoffs-real-world-impact-svbs-failure
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Mar 10, 2023 | 13:30
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US FDIC shut down Silicon Valley…
They have 151$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 Money not going in as fast as being withdrawn…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
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Mar 10, 2023 | 13:41
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Contagion risk . . . Bank failure rippled across equities and commodities this week. Credit markets impacted. Silvergate crypto bank also belly-up. One major Swiss bank appears ready to call it a day as well.
Fed talking tough about rates mid-week likely spooked. USD tumbles today as result . . . .
Take me to your leader? What leader? How the cookie crumbles.
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Mar 10, 2023 | 13:42
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Sounds alot like a bank run. Beware the Ides of March comes to mind. Things sure can change quick, lets hope its not the first domino to fall. Contagion in the financial sector can spread like wildfire in a world of a quadrillion dollars of derivatives. A half dozen customers could empty a banks tellers and atm's cash these days.
Last edited by biglentil; Mar 10, 2023 at 13:49.
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Mar 10, 2023 | 13:46
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Yep Credit Suisse is on life support.
Lumber cratering as home building hitting rock bottom.
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Mar 10, 2023 | 14:04
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Receiver Certificate… if over $250K…. That would make you stop cold if banking there…
A 200$ Billion Bank… isn’t spare change…
Cheers
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Mar 10, 2023 | 15:08
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I'll make a prediction: despite crypto getting a lot of the blame for this mess, central banks will be forced to bail out the depositors who invested in them. The losses to the banking system will be too large to ignore, as much as people would like to see crypto get what they believe is coming to it.
Crypto is just a symptom of a failing monetary system, not its cause.
Sometime in 2024, interest rates will go right back to zero and start to drift into negative territory. This will provide fuel for the next scam, which people will cheer until the moment it explodes.
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Mar 10, 2023 | 16:12
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According to one article, 87% of deposits were not insured. Could be false because how is that even possible? We deal with several banks here in order to stay under the $100K guarantee and find some decent yield. Don't know which one will fail first but the bigger surprise is that none of them have failed yet.
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Mar 10, 2023 | 16:18
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SVB is not a bank in the traditional sense. Its a venture capital slush fund scam and the unicorns it has funded were never going to be profitable. These so called investors and depositors were wait for IPOs on the companies to make 10x in the market. And that doesnt look like its going to happen for a while with 6% interest rates and a market down 40%.
But, main main stream banks may be investors as well. Hence the contagion effect.
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Mar 10, 2023 | 16:29
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Would a run on a bank be people lined up at the door or would it be thousands of people trying to do it on line?
Last edited by shtferbrains; Mar 10, 2023 at 16:34.
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Mar 10, 2023 | 16:50
11
 Originally Posted by TOM4CWB
US FDIC shut down Silicon Valley…
They have 151$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.
Last edited by biglentil; Mar 10, 2023 at 17:08.
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Mar 10, 2023 | 17:12
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Originally Posted by biglentil
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.
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Mar 10, 2023 | 18:03
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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.
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Mar 10, 2023 | 18:16
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What about cash in a corporate account, how much is insured.
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Mar 10, 2023 | 18:27
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Originally Posted by TASFarms
Harper had bail in on his budget.
Wouldn't surprise me Harper also cozy with WEF.
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Mar 10, 2023 | 19:05
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Contagion rearing its ugly head. The only thing stable about stablecoin USDC $43 billion market cap is its name.
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Mar 11, 2023 | 05:28
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Bloomberg report on Canadian Bank effects:
Cheers
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Mar 11, 2023 | 07:11
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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
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Mar 11, 2023 | 07:44
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Investment in food production is starting to look better every day.
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Mar 11, 2023 | 09:47
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In a world of HFT and derivatives things can get ugly quick. USDC has lost its peg since my last post. Could be nothing:
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Mar 11, 2023 | 11:24
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Investors need to be calmed over the weekend or risk Meltdown Monday. Top of cattle market as well?
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Mar 11, 2023 | 11:32
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Cattlemen see meltdowns about twice as often as the rest of the business world.
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Mar 11, 2023 | 12:58
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Originally Posted by errolanderson
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.
Last edited by biglentil; Mar 11, 2023 at 13:02.
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Mar 11, 2023 | 13:08
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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).
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Mar 11, 2023 | 13:23
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Maybe bank went all-in on bitcoin and lost the code. 😂
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Mar 11, 2023 | 13:36
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There is one and only one financial asset that has zero counterparty risk. We are about to be reminded why that intrinsic quality is so important.
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Mar 11, 2023 | 13:43
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I will be investing and saving govcoin
I’ve been watching the Brier on tv and the Toronto Dominion bank TD is promoting them.
The tokens have a pic of a loon on one side
😊
Last edited by Rareearth; Mar 11, 2023 at 13:46.
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Mar 11, 2023 | 14:49
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Originally Posted by TOM4CWB
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
That’s why there are an every increasing number of 25,000 acre farms with 40 million+ debt. These guys will be the smartest ones by borrowing as much as you can
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Mar 11, 2023 | 15:12
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When are loans called in? Aren't all demand loans?
1929 only CASH was king. 2008 people walked away from loans.
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Mar 11, 2023 | 16:23
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There is alot more money around now than in the 80’s ( 43 years ago)
, markets are cycles, prices for everything goes up and down(sometimes) ot many could hold out for smokes to go down, iPhones, or homes, etc
Doing nothing is a decision, not always a good one
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