Bank Run Watch 2023 after Silicon Valley Bank shutdown - Over 97% of SVB's assets were not FDIC insured

[Terrifik]

bot has been activated

https://twitter.com/POTUS/status/1635080376572956672

 

[WelperHelper99]

Its never that easy or quick. Right now we don't know what is going to happen tomorrow. What we do know however is not good. The Banks have backed their accounts payable with treasury bonds to an alarming degree, especially since the resale value of the bonds has dropped ever since the Fed started raising interest rates.

This means the banks do NOT have the ability to make good on their accounts if they get slammed by withdrawals all at once. To be fair, they never did to begin with thanks to Fractional reserve banking, but in this particular case its even worse due to the depreciated value of the T Bonds. That has reduced what they can actually pay out to dangerously low levels. And everyone knows it. So Monday is going to be the Prisoners dilemma economy wide.

All that needs to be done on Monday is for no major corporation, investment institution, or venture capitalist to withdraw their entire account. Every single one of them has to just stay still, and every single one of them will be fine. That is why the Government and CNBC (but I repeat myself) are busy shrieking about how "in control" they are.

But I know, and you know, that this is not how humans work. Someone is going to lose their nerve and run for the exit. And then the stampede will begin. At that point the US Government is going to have to bust out the really big guns. We shall see how they do.

You bail us out or we stop helping you get around the Constitution. Or worse, we'll talk to every major news network and make those payment processor games blast 24/7."

JP Morgan outright owns ALL of the Dems and most of the Repubs. If they're calling Biden it's to give instructions, not ask for favors. The first instruction is probably that "Jerome Powell must go. Nevermind that neither Congress or the President can Fire the Fed Chair. Either he's gone first thing Monday or he suicides by Tuesday"

So... chase might be the last man standing? Just by being political bullies? Right now has me nervous, might just grab my cash, ngl.

 

[Stoneheart]

There is NOTHING that can be done.

HAve airforce 2 crash into the ocean, make Trump VP, send Biden to a rafm upstate...

 

[PyrrhicRustle]

Theoretically if I were to go to a wholesale store tomorrow to get supplies for a potential disaster, does anyone have recommendations? Hygiene, medicine, batteries, canned and dry goods are all obvious.

 

[Bill The Fucker]

Read the fine print, they only allocated 25 billion to bail out depositors. There was 175 billion worth of deposits in SVB alone.

It's unlikely to need anything close to that number. The goal is to keep people from losing their shit and causing further bank runs until a buyer is found. Once that happens none of this will be needed.

You got a source (please I am asking) because every outlet is saying 100% of deposits will be covered.

If your source is correct - and all the media is lying - it means only one thing: a bank run could happen and collapse everything

The Treasury has currently allocated 25 billion for the exchange program for T bills and MBS, but the implication is clear that they're willing to cover the whole thing if necessary.

 

[MadStan]

Read the fine print, they only allocated 25 billion to bail out depositors. There was 175 billion worth of deposits in SVB alone.

It's not gonna be enough, bloody Monday isn't canceled. Get the fuck out while you still can
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You got a source (please I am asking) because every outlet is saying 100% of deposits will be covered.

If your source is correct - and all the media is lying - it means only one thing: a bank run could happen and collapse everything

 

[namvata]

You got a source (please I am asking) because every outlet is saying 100% of deposits will be covered.

If your source is correct - and all the media is lying - it means only one thing: a bank run could happen and collapse everything

My source: the federal reserves themselves

Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors

To support American businesses and households, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository i

www.federalreserve.gov

It's unlikely to need anything close to that number. The goal is to keep people from losing their shit and causing further bank runs until a buyer is found. Once that happens none of this will be needed.

Another bank just got closed and it's not even Monday, there is already panic in the air and everyone can smell it. It's too late to try and prevent people from losing their shit. Btw they're talking about BANKS (plural) and they don't even have the funds to bail out a single one. This is like putting a band aid on an amputated leg

All it takes is the mere impression that something will go wrong and the bear market starts.

 

[reptile baht spaniard rid]

You got a source (please I am asking) because every outlet is saying 100% of deposits will be covered.

If your source is correct - and all the media is lying - it means only one thing: a bank run could happen and collapse everything

They’ve said they will allow the bank to value the treasuries based on “eventually it pays back” which will allow this to slide by.

It’s accounting fuckery, the equivalent to “bitch we will give you your money so you don’t need to worry”.

It will work out for the government because the thing people are panicking about is government bonds anyway

 

[ZazietheBeast]

Old but gold.
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Now. Weimar Germany produced one moustached Austrian who has become the stuff of nightmares for the 1%. But as we are now a global Weimar, how many will rise up this time?

He wasn't kidding when he said that his spirit would rise up from the grave and the world would know he was right.

 

[Fascist Kirk]

bot has been activated

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https://twitter.com/POTUS/status/1635080376572956672

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I trust biden less than Jim Cramer, I was nervouse until the BTFP emergency program came out 15 minutes after futures opened. but these Twitter posts by Dark Biden have me in fear again ..... sell sell sell

 

[mindlessobserver]

Theoretically if I were to go to a wholesale store tomorrow to get supplies for a potential disaster, does anyone have recommendations? Hygiene, medicine, batteries, canned and dry goods are all obvious.

Dried Beans, Rice and Flour are the holy trinity of shelf stable food. Their angels are Granulated sugar and Molasses. Those 5 ingredients will pretty much last forever and give you some utility.

After that buy the big bag of yeast culture. For bread.

You are pretty much set at that point. One great depression era trick was to grab the huge hunks of cheap beef or pork (like the Boston butt) and put it into a freezer. The stuff made for good stews, and you could take a hatchet to the frozen hunk, break off a chunk, and use it in the rice and beans.

Hopefully we are not at this point, but, you know, all knowledge is useful. Also buy the big bag of potatoes. Not to eat mind you. Keep them moist until they sprout and then plant them. The potato is the most efficient food crop known to man and a single half acre of potatoes can pretty much feed a family of 5 year round. You can also use pieces of potato to keep your bread yeast cultures alive long after you run out of the store bought packet.

 

[quackrock]

If your source is correct - and all the media is lying - it means only one thing: a bank run could happen and collapse everything

Thread theme if true:

For Whom The Bell Tolls (Remastered)

Provided to YouTube by Blackened RecordingsFor Whom The Bell Tolls (Remastered) · MetallicaRide The Lightning (Remastered)℗ 1984 Blackened RecordingsReleased...

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[MadStan]

Well if I am reading it correctly the 25 billion program is there for all banks now - but still they will cover all deposits for signature and SVB.

To do this so quickly they no doubt had proof Armageddon was going to happen Monday but I still find the bailout sickening.

At this rate the Fed will own all banks in America within a few years and the Treasury Department will be defacto management.

What’s next? They going to bail
Out the investment companies when on Monday people start pulling their money out of markets?

Fucking madness. The backstop to banks isn’t being given to investment firms so they are now at a severe disadvantage if people start pulling money out and they need to raise cash with bond sales.

 

[MagneticTowels]

Thread theme if true:

For Whom The Bell Tolls (Remastered)

Provided to YouTube by Blackened RecordingsFor Whom The Bell Tolls (Remastered) · MetallicaRide The Lightning (Remastered)℗ 1984 Blackened RecordingsReleased...

www.youtube.com

Big Gay Al- I'm Super, Thanks for Asking

Big Gay Al's musical number from the South Park Movie

youtu.be

 

[northstar747]

In 2008, there was no chance a bank like Wells Fargo or BoA would have gone down with the rest of the elite financial institutions. That is no longer the case, because as part of the 2008 bailout the Government did a shotgun marriage of the elite banks and the consumer banks. Now the systemic issues are fully integrated, nationwide, from top to bottom.

Again the fed basically did all those marriages and TARP in order to prevent the house of cards from falling by stopping that first card.

Which is fine but then in like say 2012 There should have been a whole bunch of reforms.

Also while you guys moan about Ukraine your forgetting all the covid Shit. the fed created so much money they cant, they just cant. To get inflation under the control rates have to go up and bad zombie banks and companies have to go.

Also before 2008 there was a bunch of saving and loans crisis in the 1980s

 

[888Flux]

CBOE premarket futures are up green, because this makes sense.

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[Zbk3VmLfujjzjxBd43tL]

CBOE premarket futures are up green, because this makes sense.
View attachment 4764130

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Yep, because the Fed just signalled that banks can do whatever they please and get nothing but a financial slap on the wrist (if that). Bad money will continue to dominate the economy.

 

[AveraDiane]

The more shit like this that happens, the more angry I get with these politicians/higher ups that run our world. I'm so tired of things going more to shit each year just because these self-righteous degenerates want to fuck with us. I'm not exactly sure how this is going to effect me (since my payroll provider isn't associated with SVC but with current year + 6, nothing fucking surprises me anymore) though, but I do not like this all. Let's hope for Civil War 2.0, I am so done with this.

I apologize for my doom posting, but it's difficult to have faith these days.

 

[nostalgiasorrow]

so are we still fucked or has the collapse been rescheduled for later this year?

 

[mindlessobserver]

Fucking madness. The backstop to banks isn’t being given to investment firms so they are now at a severe disadvantage if people start pulling money out and they need to raise cash with bond sales.

Bonds that are worth less now then they were when they were purchased lets not forget. The Bond Market is integrated at all levels of the economy. I have been screaming into the void about the fucking bond market for two fucking years.