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

Lol if anybody believes the current market rally is sustainable. The fed has created an absolutely Sisyphean task out of the inflation problem with their loose money policies, all this recent bailout shit is just them letting the boulder roll back down the hill yet again. Unless Powell gets on TV tomorrow and sucks off the board of JP Morgan live while proclaiming no more rate hikes forever, things are going to turn sour again VERY quickly. The macroeconomic conditions are now entering HELL mode, don't let them bedazzle you with bullshit.
 
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mindlessobserver said:
I dunno. With the advent of AI generated Waifu's, I foresee a major value drop in individual Waifus. What's the point in getting a waifu if she's gonna be replaced by cheaper alternatives one year from now?
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The future is now, old man.
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Uranus Pink said:
And bank robbers look like this View attachment 4769154
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Capture.PNG
 
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Mikoyan said:
The goal of a startup is pretty much never to try to make a profit. It is to make the revenue line hockey stick upwards so they're an attractive IPO/acquisition target.
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Wait a minute. This business model of "look attractive enough to get bought out"?

This is quite literally a repeat of the Dot-Com bubble bursting. We are repeating history here like fucking groundhog day.
 
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General Emílio Médici said:
The Bitcoin "muh electricity" argument is kinda stupid because, much like with Electric Vehicles and general electrical consumption there is nothing wrong with using energy. The issue is where it comes from. If we had nuclear reactors it wouldn't matter that it takes a bunch of thousands of watts to mine bitcoin.

Also yeah Coinbase isn't bitcoin, and the issue was only that they held a bunch of their FIAT money reserves in SVB that meant they were not able to hold their stablecoin USDC to the peg so it got uncoupled.

This is all a bunch of deflection and distractions anyway. The regular banks are collapsing and people are going on about "muh crypto" like come on man both are made up fucking money.



I read this book once, Warday, where the author touches on this. It was a book about a nuclear war happening in the late 80's that turns out to be "very limited" but that doesn't help the USA or USSR at all. In the book a economist/former banker explains that the moment the nukes flew and the electronics stopped working the entire computerized banking system went kaput. Every single digital US Dollar stopped existing. The result is that in he post war, 1996 USA reconstructing from the nukes the prices have all gone back to early 1900s because of it and they try and handle it by transfering old irradiated Fort Knox gold as a backing for trades with nations outside. Great book.
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Whenever there is discussion and speculation about what a societal collapse would be like, I tend to base my views on this:

https://prephole.com/surviving-a-year-of-shtf-in-90s-bosnia-war-selco-forum-thread-6265/

Since this is apparently the experiences of a guy who actually lived through this type of situation for a year in Bosnia, in which he and the rest of his town were suddenly cut off from electricity and running water (for the other poster who said the world has changed a lot since the 20s, if you take these things away, technology essentially returns to what it was in the 1920s, possibly even less as cars will also be unusable in these circumstances). According to this fellow, gold retained some value, but not much, and he quickly traded away all of his so-called valuables for more ammunition. And paper money became effectively worthless very quickly.

This makes sense as items that serve purely as mediums of exchange or stores of value (such as gold) can only be used for this purpose under a stable government that is able to protect property rights and maintain stable markets.
 
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Barry McKockner said:
Would it though? The only thing that gives the US dollar value is your perception of it. People already realize it's worthless because printer go brrrr. The banks crashing everything would just be the icing on the cake.
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And how has the last 6-8 years not taught you that the normies perception of reality is mired in 'experts' and unshakable in the face of absurd evidence. The vast majority of people cannot even begin to comprehend the idea of a truly USD-Free country, its just baffling, truly unthinkable to most of them. Combine that with any situation thats short of "US Gov Dies" and the long arm of the state to enforce some return to at least a temporary stability, and it'll keep trucking.

Even the US normies, a faction of which are slighly more aware, aren't enough to unseat it, because we're not just talking US populance. The entire world more or less measures itself against the USD, trades in the USD, denominates their debts an wealth and productions all in USD. We're talking a planetary level of economic inertia. A few million economic doomers wouldn't do much to unseat that, not as long as a US Federal Government still exists.

Believe me when I say that I wish the USD would crash and burn and completely revert the WEF economic corruption as it crashes out by forcing them to infiltrate a new system, but its just an exceedingly unlikely scenario. Perception is reality, and the perception of "USD is valuable and important" is going to come from every one of those documents denominated in it, every money trader who offers it, every institution who banks in it, every government official who's paid in it (particularly the ones with guns) and every official who's paid to collect it (especially the ones with guns). That reality is not simply perceived, but imposed in many cases. Not so easy to break.

Edit: Because the conversation keeps getting confused I want to make this exceedingly clear - A banking collapse is not a societal collapse. In a societal collapse, the moneys worthless, see the 90's story above, because the gov has gone completely useless. A banking collapse is the complete loss of ability to track debt, credit, transact long distances, and safely store and access money, and by extension most business structures collapse into dysfunction or inaction as they do not keep palettes of cash in the head office to meet payroll and pay suppliers. Shit grinds to a halt until something is done to restore functionality, violence on the streets is entirely plausible, but government organizations still continue to function as the only org that can absolutely, irrefutably guarantee they will pay their debts to staff and operators as they unfuck the situation, they control the money printers. The US dollar does not die in a banking collapse. The US dollar dies in a societal collapse. Very different things.
 
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mindlessobserver said:
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.
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Maybe someone already commented on this. Still catching up the thread. But if they didn't, this advice is on the right track however you need to bag your flour and get the air out (look up mylar bags and oxygen absorbers and/or magic seal). Without doing this, your flour will last 2-3 years before it goes rancid (the oils in it) but if you do package it right then you got like 25 years on it.

Also put your flour on the freezer overnight to make sure you kill any pests in it, though it is a source of added protein (you will eat the bugs!)

Beans are good to be stored immediately, without needing oxygen absorbers (though it doesn't hurt)

Rice, follow the same instructions as the flour.

No oxygen absorbers for salt and sugar unless you want a hard rock. That stuff is good store when you get it.

Truth be told. Your very likely to not mind expired dry goods if it's the only thing you got.

Edit: flour into hard tack will give you a indefinite shelf life. Have to soften it though, like in coffee, stew, pan with grease, etc else you can break your teeth on it.
 
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LOL at the dooming ITT. Since everyone else is making predictions of doom and gloom, here's my view:

Bank stocks are going to tank hard in the short term. Some more weak banks will fold. Depositors will be made whole. Shareholders will be the sacrificial lambs. The stock market as a whole will be wobbly over the short term as the downstream effects play out. The Fed will use this as an excuse to pause the rate hikes which will keep inflation persistently high, but also keeps the asset bubble propped up. Can kicked down the road once again, Biden declares the economy strong and coasts to a 350+ EV victory in 2024.
 
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UShekelDollars vs Shekelcoin:

USD:
- Worthless funny money.
-Works without internet.
-Has the US military behind it.
-Easy to carry, but big piles of it need a lot of space.
-Doesn't eat your electric budget.

Bitcoin:
-Worthless funny money.
-Needs internet.
-Backed by no military except autists online.
-Easy to carry (internet needed) and hide.
-Cryptojudebros ruin gaming and waste a shitton of power.

Gigachad Gold:
-Worth a shitload everywhere.
-Needs no internet or gubbermint.
-Easy to carry and hide.
-Eternal.
-Silver is better for smaller trades, but you can't carry as much.

Tl,dr, when (((merchants))) need to flee a host, they take their gold with them.
 
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So I read that the UK subsidiary of SVB was bought by HSBC for £1. Was SVB UK not a publicly traded company? Would buying it not require purchasing all the shares? This decision all seems to have been arranged over a weekend. It seems extremely fast to me. Is there not a tonne of investigation and assessment that needs doing before buying a bank? Legal investigations, et al?

Basically by what mechanism and magic can HSBC over 48hrs say "We're buying a bank."
 
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Male Idiot said:
UShekelDollars vs Shekelcoin:

USD:
- Worthless funny money.
-Works without internet.
-Has the US military behind it.
-Easy to carry, but big piles of it need a lot of space.
-Doesn't eat your electric budget.

Bitcoin:
-Worthless funny money.
-Needs internet.
-Backed by no military except autists online.
-Easy to carry (internet needed) and hide.
-Cryptojudebros ruin gaming and waste a shitton of power.

Gigachad Gold:
-Worth a shitload everywhere.
-Needs no internet or gubbermint.
-Easy to carry and hide.
-Eternal.
-Silver is better for smaller trades, but you can't carry as much.

Tl,dr, when (((merchants))) need to flee a host, they take their gold with them.
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what good is gold if you can't buy McNuggies with it?

How Many Chicken Nuggets Can You Buy With A Gold Nugget? | Ghostarchive

ghostarchive.org ghostarchive.org
 
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