Silicon Valley Bank collapses after members make run, Other banks to follow?

I see this bank's CEO was scamming and pushing the climate hype, so it's no wonder this bank failed. Being run by woke stoops. I never thought Oprah was very smart, but keeping 500 plus million in a bank like that was very stupid.

I ignore you because you are addicted to ad hominem attacks and at least a dozen other logical fallacies as this quoted text of yours clearly expresses.

originally posted by: tanstaafl

originally posted by: Nevercompromise
Then this will be the 3rd time I ignore you

Thank you for confirming that you are incapable of backing up anything whatsoever that you claim...

Clueless about bitcoin and all cryptos.

Believes NESARA will swoop in and save the day.

Believes in BabyQ even.

Rotflmao!

Let's see.
Ad hominem.
Strawman.
An Appeal to ignorance.
Le tutoque.
Ad hoc.
Those all in one post by you.
Who has time to waste on that?

Ok Basel treaties are negotiated by central banks and nation states.
They operate fiscally for accounting for Oct 1-the last day of September.
Trade agreements are implemented January 1 for their respective years.
Last year usmaca only went live with metals trading.
This year all trade.
This is why Canada just dumped 10's of thousands of gallons of milk onto the ground destined for Europe, because of the usmca. But they call it CUSMA.
I laugh at that.
It is so Trudeau of him to demand top billing.

Either way, supply are significantly changing especially food related

originally posted by: NoCorruptionAllowed
I see this bank's CEO was scamming and pushing the climate hype, so it's no wonder this bank failed. Being run by woke stoops. I never thought Oprah was very smart, but keeping 500 plus million in a bank like that was very stupid.

This one is weird.
I knew of Credit Suisse problems and they are faltering now.
Bank of England is screwed but now that Rothschild is taking their banks private does that mean BofE also?
I guess that would save them.

Anyway check this anecdote out.
I posted what I did earlier as I stopped by the side of the road to do it while on my way to deliver some things to a friend/client who has a small farm and is a skilled and active worker in the trades.
I intend to warn him of what might be coming Monday and as I begin to explain he quickly states he knows about the banks.
So I quiz him if he is talking about SVB. He says yes but all the banks because he says everyone is talking about it and pulling as much money as they can out of their accounts.


Kind of stunned I tell him, " here I am getting ready to tell you of possible bank runs on Monday and here you are telling me you are already participating in bank runs on Saturday.

Everyone is talking he says.....wow.
I need more chickens

originally posted by: marg6043
a reply to: Nevercompromise

Please that sounds very horrible, but what will the globalist get out of it if the major banks default, I am not liking this at all.

I really hope I am right on this but all this is necessary to end the federal reserve banking system and it's graft and theft from boom- bust cycles of manipulated inflation that has lead to the 1% owning all of us as debt slave in perpetuity.
The globalists wanted a reset.
We look to be getting something other.
The QFS.
I am not sure I like it.
In fact I am certain I do not.
But what I am certain of there is nothing good or fungible about the USD fiat that is enslaving us all.

Bank runs spread to First Republic Bank in CA

offgridsurvival.com...

Video at the link.

Yikes.

This is the Biden economy!

originally posted by: burntheships
Bank runs spread to First Republic Bank in CA

offgridsurvival.com...

Video at the link.

Yikes.

This is the Biden economy!

BOHICA, but much much worse!

In what looks an awful lot like the lead-up to the banking crisis in 2008, trading in several regional U.S. banks was halted on Friday amid a massive sell-off after the FDIC took over Silicon Valley Bank (SVB). On Friday, the share price of First Republic Bank declined nearly 50 percent after the collapse and FDIC takeover of SVB — the second largest bank collapse in U.S. history. Today customers could be seen lining up at First Republic Bank branches throughout California in a desperate attempt to pull their money out

a reply to: Violater1

Someone mentioned earlier in the thread about Basel3

If anyone is looking for facts, this is a better resource.

www.fsb.org...

Everyone should evaluate their own banking institution, if
it is a SIB bank (sytemically important bank). If ones bank
is not an SIB take note of the bank run atmosphere, it might
affect your $. Take note of FDIC insurance is only 250k per person.

This is not advice. ***

a reply to: Nevercompromise

A digital FIAT is no better, in fact it is much much worse.

But you probably already knew that.

Here's a list of which SVB Executives sold much of their personal SVB stock, since February 1st.

truthsocial.com...

They didn't tell their shareholders or depositors that trouble was coming, but now want all of us to bail them out.

(Where is the "middle finger" emoticon?)

I'm still waiting to see if this is a nationwide thing or a California thing.

We have all known that California was courting disaster for a long, long time with the tech industry being just one of several bubbles inflating itself steadily out there.

And if Cali crashes, what will the rest of the country do? Obviously, the pain will spread but how much and how far, only time will tell.

originally posted by: burntheships
a reply to: Nevercompromise

A digital FIAT is no better, in fact it is much much worse.

But you probably already knew that.

I shake my head in disbelief, how many people are duped into BitCoin, or what ever internet fiat currency.At the click of a button, it disappears and cannot be tracked.

OMG...That "Cramer" guy on C-NBC is the Grim Reaper.

He endorses....the endorsed institution suffers.

JP Morgan next?: truthsocial.com...

originally posted by: AndyFromMichigan

originally posted by: xuenchen
GOP Rep. Kustoff: We Need to Know Why Regulators ‘Failed to Catch’ SVB Collapse

....We need to also know where the regulators were, what they were concentrating on, and why they failed to catch this before the events of the last several days.”

😬

CEO of Startup Accelerator ‘Y Combinator:’ Silicon Valley Bank Failure Is an ‘Extinction-Level Event’

I read a report that 90% of SVP's customers had over $250,000 with the bank -- meaning most of them are going to lose money. Their customers were probably mainly Silicon Valley startups, who are now going to be freaking out about how they're going to make the next payroll.

it may get very interesting the next couple weeks. right now from what i have seen, most people have only clued in to the fact that people will loose money, as some people are gleefully laughing at "the rich loosing money". since of course most (but apparently not all), bank accounts are covered, but only to a max of $250,000, so only the "rich" will be hurt. yet they are failing to see that, that $250,000 cap, also includes companies and businesses. which of course means many, especially the poorer paid, WILL very likely be hurt by this. first off, by not getting paid. as it is hard for a company to pay employees, when they don't have enough money to actually do so. think about it. if for example a company pays monthly (and the 15th of the month is a popular date for monthly pay). and pays each employee $2,500 a month. all they need is 100 employees, and that entire insured $250,000 is completely gone. forget about any other expenses, just minor things like rent, electricity, stock/materials, etc. remember the poorer of us live paycheck to paycheck (many people are actually living on the next pay, being in serious debt especially credit cards and overdraft). and so any pay disruption would have very serious consequences

and lets face it for pretty much all retail type businesses, this is the "lean time" of the year (typically from Christmas, till pretty much summer). where normally people cut down spending, after overspending on Christmas. so those types of businesses would have problems since they rely on their savings in a bank from the better times, to see them through the lean times. and so their accounts would be more money in their accounts. not to mention it is wise for businesses to keep at least a couple months expenses in the bank (although a lot of that was likely used during the pandemic, so those savings could be low), "just in case". in fact many if not most franchisers with accounts at this bank are screwed. screwed because a lot of franchise contracts require you to always have a certain amount of money in the bank at all times "for emergencies". for example Mcdonalds requires their franchisees to always keep an account of $500,000, exactly double the insured amount. and my understanding is a lot of franchises have similar savings required.

of course his means you will likely have a lot of smaller businesses and companies that have an account at this bank closing. that means loss of jobs. a person not getting paid, or fully paid, will be completely FUBAR. causing things like loss of homes, no food, getting services cut off for non payment, etc.

which if we remember our history, this is pretty much how the depression started. it wasn't the people loosing the money from stocks and banks that was the problem. it was the fact that companies couldn't afford to pay bills, pay employees etc, so they closed. and a company closing down, as bankrupt, means those they owe money to, such as other businesses and suppliers, can't be paid. which then puts those companies into bankruptcy, loosing yet more jobs, and lack of pay which likely will never be recovered. that is exactly what happened to my great grandfather. he didn't do things like buy stock on the margin or something like that. he was a supply business. and between him not being paid, because of people and businesses going bankrupt, caused HIM to go bankrupt, and he was wiped out because of it. and that is the problem with a situation like this, it's like several sets of dominoes spreading out like wildfire.

hopefully they will get at least most of their money back. but like a bankruptcy, they will have to figure out how much money they actually have, vs how much money they owe ALL creditors and customers (after the insurance money paid out is covered), and then divide the money equally between all those owed money. and i suspect that is not going to happen within a couple days, possibly it will take weeks, if not months to sort out (seriously, if there was any fraud going on, it takes forever to work it all out. like it took over 6 months to find out all paperwork to find all of the over $100,000 the cash office person had stolen, and hidden within the paperwork in a couple months at the one walmart i worked at). there is even a possibility that there will be no money at all over the insured amounts, meaning the up to $250,000. but then there is also the possibility that once the dust settles, they will get all their money back, at some point down the road. it will actually be interesting to see, first how fast people can get their insured money, and then how long for them to sort everything out, and give them what they can over the insured amount.

originally posted by: Nevercompromise
I ignore you because you are addicted to ad hominem attacks and at least a dozen other logical fallacies as this quoted text of yours clearly expresses./quote]
So, as usual, nothing but gobbeldygook.

originally posted by: Nevercompromise
Everyone can see they have finished phasing out the Petro dollar, right?

Yep. Saudi Arabia is joining the Russian/Chinese BRICS system, which means that the Petrodollar is now officially being moved to palliative care.

a reply to: AndyFromMichigan

Yep US is insignificant under the senile incompetent president we have, the democrats have been hell bend on looting the nation, pushing for clima change scam, inundating the nation with illegals that do not care about America, but what they can get from the tax payer, and eroding US power over the globe, all for money, democrats has been infiltrated by China and the bidens are compromised people.

I give 10 more years without leadership and America will have china stations all over the states and cities and they will be dictating Americas politics, breaking the nation into pieces.

The only that protect Americans citizens is the constitution, we need leadership we got none, what is left in the white hosue are just looting the nation running with the nails and boards.

It is being reported that Janet Yellen is not even considering a
bail out. That will leave a lot of people who had not pulled
their money out in a bad place.

Not that I am in favor of a bail out, however if this does
indeed spread as it appears to be doing...well keep an
eye on your $ folks.

Gold is the only real safe haven.

a reply to: burntheships

There shouldn't have been bailouts the first time around.

Where the rubber will meet the road is what Congress will do if this pulls down the state. This is going to have deep marks in the entire state economy of California.

I predict bad things for Newsome's presidential aspirations.

a reply to: burntheships


Why should they be bailed out,

Silicon Valley Bank workers were paid bonuses just hours before it collapsed, report says

Yep they did, this what the tax payer should pay for it?

www.msn.com...

a reply to: ketsuko

the uk is talking of bailing out the uk depositors so they can make payroll this month, the knock on come monday will be huge..