I mean it's a little frustrating, but at the end of the day they loaned us the money contingent on them being able to control it if necessary, and the value of the loan dwarf's the funds we have in the bank.

They are definitely putting a moratorium on the media reporting on this to stop runs on banks by plebs. 10K CEO's miscers have already made arrangements.

Yup, I getcha. Hate when a third party ties your hands.

Lold at calling it a conspiracy theory. They’ve blatantly said that’s what they want to do and are doing.

Strong this.

Dave Ramsey's advice for most people should be:

Get in the best shape of your life.
Sell your body.

srs.

Unfortunately the government actually lowered it during Covid (march) 2020.

I don't necessarily think this will continue at other banks. SVB was known for doing a lot of lending to tech startups/VCs and small businesses that other big banks wouldn't necessarily lend to, the problem that occured was that in 2020/2021 these companies made an absolutely insane amount of money, which caused deposits to come pouring in to SVB.

What does a bank do with its deposits? Invests them. They invested a lot of this new cash into longer term securities, bonds that were only yielding 1-2% (which was still better than interest rates at the time). Now that interest rates have gone up a **** load, it caused the prices of these bonds to fall dramatically, so in order to meet their day to day liquidity needs, the bank has to sell these things at a deep discount and take the loss.

Now in 2022/2023, the opposite has happened in tech, it has come to a complete standstill and there is no money coming in, and SVB bought too many long term investments, and had nothing available in the short term to meet withdrawals.

Theoretically other banks could do the same thing, but I don't think most others had such extreme amounts of deposits / withdrawals given that they probably serve a larger variety of businesses? I could be completely wrong though.

edit: what's kind of scary is how fast the withdrawals came in, because everything is digital nowadays it is pretty instantaneous, I think Friday alone had something like $40 billion in withdrawals.

Just my 2 cents

Not wrong, but the smaller banks are still in the single digit percentage reserve.

$50 million in deposits with a 10% reserve requirement = $45 million lent out and $5million reserve. That loaned $45million gets deposited and $41.5 million gets loaned with $4.5 million reserve..etc, etc.

I know, its dumb. Kinda like how people thought they would make a vaccine passport, stupid conspiracy theorists

Billionaires should not exist its a crime to humanity

Same as I can’t add everyone on Instagram or post multiple threads on reddit

Only gawd can save you

i think they're okay, just need to stop fuking bailing out anyone who has above a million in networth.

you take the risks, you get ****

Thankfully, I doubt USAA will ever be one of them (dfs)

Wouldn't you think that cash in a bank is relatively risk free? It's not like they had it in doge coin.

It is kind of crazy to me that there is anyone left who believes that CBDC isn't the plan. China already has it.

I made a big thread directly linked to White House web page with lots of specific info when Biden announced that is where we are headed.

There is even a web site tracking progress.

https://cbdctracker.org/

the Israelis smelled trouble and got out -

“Don’t ask questions. Just withdraw the money now”

In the dramatic leadup to the collapse of Silicon Valley Bank, Avi Eyal, managing partner of Entrée Capital, which invests in dozens of Israeli companies, sent a WhatsApp message that prevented potentially major damage to many of his portfolio companies
Sophie Shulman and Meir Orbach
12:17, 13.03.23

"Stop everything you are doing now and give an order to withdraw all your money from SVB. Don't ask me questions, just do it. Then we will think about what to do next and ask the questions," wrote Avi Eyal, managing partner of venture capital fund Entrée Capital, in a dramatic WhatsApp message to his portfolio companies on Thursday evening, noon New York time.

At that stage, the share price of Silicon Valley Bank, the preferred bank of the global high-tech industry, including Israel’s of course, had already begun to drop sharply and ended up causing a run on the bank. It ended with its closure last Friday by the American regulator Federal Deposit Insurance Corporation (FDIC) after $42 billion were withdrawn over a short period of time. After the stormy weekend in the Israeli high-tech industry, it turns out that a large part of the companies managed to withdraw at least part of the money from SVB already on the night between Thursday and Friday.

Others, who gave an order that was stuck during the weekend and had already given up, saw yesterday that the money came in after all. It is estimated that the Israeli companies managed to withdraw most of their money from SVB, with some going to banks in Israel and some to the accounts of other banks abroad.

"We tell all our companies from stage A onward to open accounts in two different banks in each country. We require companies that have raised over $50 million to have four different bank accounts," says Eyal. "You could say this is Israeli paranoia, but you saw its value this weekend. The Americans got stuck because they are positive and have basic faith in their system, so they didn't withdraw the money right away, and the British, where the bank is also very active, didn't even know that such a dramatic event was happening."

https://www.calcalistech.com/ctechne...cle/syilw00hk2

Unknown.

There could be an initial 1:1 exchange. Or if they wanted to go with smaller numbers maybe $10 current $US > $1 US digital dollar since the US$ has lost about 90% of purchasing power.

Or everyone could be issued the same amount.

There is no guarantee that an exchange rate will be the same for all customers.

There is language in the White House announcement about equity which implied that they could decide to give POC a different rate of exchange than white people, or they could give people with lower balances a more favorable rate of exchange than people with larger balances.

Maybe I will try to find my old thread again. It was/is a long document.

Executive Order from March 2022:

https://www.whitehouse.gov/briefing-...igital-assets/

Just fkg LOL @ having money.

Can't lose something you don't have.

Yeah, their largest investor said no mas. Could be nationalized.




^^^
Nordea also not doing well. And there have been rumors about Wells Fargo.





lol

And also yes, but worse than a .25 hike IF this continues to snowball. Credit freeze.

ETA: Missed this one while I was out grocery shopping.

"Treasury probes US banks' exposure to Credit Suisse as it pleads for help from Swiss state bank after shares tanked up to 30%: Dow plunges 500 points and S&P cuts First Republic to junk status in wake of SVB collapse"

https://www.dailymail.co.uk/news/art...are-fifth.html

I don’t see that happening, unless maybe they give most people a 1-1 transfer rate and give others a rate somewhat better. They’ll want to make the transition as smooth and appealing as possible. Sure, if they make the alternative less appealing they don’t have to incentivize the shift as much and people will still do it. But I think they still try to make it very appealing to get as many people to adopt it as possible. Or maybe just make it more and more difficult to utilize traditional currency, like they’ve already been doing with physical cash. The whole point is to get control via the CBDC, so they’ll want to make the jump as smooth as possible for everyone.

That has been part of the roll out in Nigeria where there is much broader continued use of paper currency. They declared their existing paper notes void and required that people exchange them for newly printed paper notes, however there was not a sufficient amount of new paper note to allow everyone to get their money exchanged thus forcing people to go electronic. Except it hasn't gone smoothly and it seems many Nigerians have been resisting.

https://www.finma.ch/en/news/2023/03...-mm-statement/

Credit Suisse Basically nationalized, this just dropped moments ago from FINMA

The Swiss Financial Market Supervisory Authority FINMA and the Swiss National Bank SNB assert that the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets. The strict capital and liquidity requirements applicable to Swiss financial institutions ensure their stability. Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks. If necessary, the SNB will provide CS with liquidity.

It would be difficult to overstate the level of control potential in a CBDC.

The rules are whatever they decide the rules are.







Now mind that I do not know if they have this new system ready to go yet. International trade seems like it would be particularly tricky. The present system for clearing transactions is complicated and entrenched. Large entities aren't so great at big updates IME.

When I worked for an auto insurer back around '98 or '99 they were using a DOS system that just had a Microsoft GUI slapped on top. I mentioned it to an employee of another big auto insurer when I was changing my carrier last week. He said their system is still like that.

Lol Britcoin, that's so good


Backstop deposits in the banks, replace management, and plow ahead with the quantitative tightening because inflation is nowhere near conquered.

where does katya get all these charts from ? Mirin chart game srs

I was just thinking about starting a thread asking her how she has time to be so educated on so many topics. It is impressive.

srs she must be disabled or bedridden to have so much time to go chart hunting and have them readily available for posting and 200+ words essays to back her claims up lol

I was thinking there is some conspiracy website that consolidates all the information and you can just look it all up by topic. IDK though.

I take screenshots for y'all.
Always been curious and a reader. I put a decent chunk of time into following financials back around the Great Recession and before that I followed politics more. The virus/pandemic measures/vaccine stuff was all new territory.

Usually starts with "What? Why? That doesn't make sense."

Honestly I wasn't that aware during the Clinton administration. Then while Bush Jr. was president I started seeing a lot of actions and legislation that made no sense to me as it seemed that they were choices that would be detrimental to the country.

But I still thought that a lot of stuff still labeled as CT was nuts until personally experiencing the pandemic.

I mean I believed that there were powerful people who happened to have aligned goals which are generally antithetical to the common man, but I thought they were mostly just greedy and selfish, not outright evil or that there was a shared plan to enslave most of humanity using digital chains.

If you were here you know that when messomi would talk about vaccine passports and restricted movement I too thought that was crazy talk. Now there is too much evidence to allow for disbelief, at least for me.

I understand that. Tried repping but on spread. I appreciate the unnecessary but detailed response lol.