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

Socrates said:
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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Well it is the classic American way, borrow as much money as possible and worry about paying it back later or never.
 
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GunCar Gary said:
assuming you actually live near silicon valley and your company isn't trying to be "cool" by banking with SVB, you're getting everything you deserve for being a techie and a californian
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Thems fighting words, I aint no Californian
 
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Jesus, I thought I had a good grasp of this situation last night. A few hours and a hundred trade freezes later and I come back to you guys sperging about Coinbase of all things.

Did a third bank fail or not?
 
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RodgerDodger said:
This is the best explanation I've found for what happened to SVB. He's dry but bitingly sarcastic. Sadly the fools responsible will never be prosecuted.
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Trying to hold those responsible accountable for their actions!? Sounds pretty anti-semitic of you my guy.
Socrates said:
Just ask the Roman Empire how well nonstop currency debasement goes.
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Combined with Barbarians inside the gates and extreme senatorial corruption - and yeah, Americanda is Nova Roma indeed.
 
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Goofy Logic said:
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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It's also the repeat of "Mortgage Backed Securities" bundle enough shitty and dodgy Mortgages together and unload them on the next sucker.
 
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Goofy Logic said:
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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It's not quite that bad. You have to have actual numbers backing you up these days; it's just that profit is a lower priority over revenue growth.

Especially subscription revenue. You get to book that at multiples of the current take, so it looks particularly good. It's one reason why everything's a subscription now.
 
I mean, if people are hoarding gold to trade with in the apocalypse, you may as well take that brick of gold and beat someone to death with it, because gold only matters if civilization exists. A total civilization collapse really hasn't happened. Shit gets wildly fucked, but humanity has powerful hierarchies in place. Even the black death didn't collapse society, nor did the Fall of Rome.

Apocalyptic level events like people jerk off to rely on complete destruction of all forms and tiers of government, which has basically never happened.
 
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Secret Asshole said:
I mean, if people are hoarding gold to trade with in the apocalypse, you may as well take that brick of gold and beat someone to death with it, because gold only matters if civilization exists. A total civilization collapse really hasn't happened. Shit gets wildly fucked, but humanity has powerful hierarchies in place. Even the black death didn't collapse society, nor did the Fall of Rome.

Apocalyptic level events like people jerk off to rely on complete destruction of all forms and tiers of government, which has basically never happened.
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A full dinosaur like event is extremely unlikely. Gold is just good if your fiat goes belly ups like with Germany. Even if your country -does- collapse, the neighbouring ones would impose order. And your gold won't loose value. Your fiat may.

If those are fallen too, like a hypothetical meteorite hitting Straya, than those farther away would take charge eventually.

Also, remember. Currencies can be replaced. Perhaps the USD would be replaced by the United States Shekels, USS. It is very unlikely, but still -more- likely than the US collapsing into mad max land.

But if you want to look at what can happen, just look at the loosers of WW2. And those nations had it harder than a bank collapse.
 
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Secret Asshole said:
I mean, if people are hoarding gold to trade with in the apocalypse, you may as well take that brick of gold and beat someone to death with it, because gold only matters if civilization exists. A total civilization collapse really hasn't happened. Shit gets wildly fucked, but humanity has powerful hierarchies in place. Even the black death didn't collapse society, nor did the Fall of Rome.

Apocalyptic level events like people jerk off to rely on complete destruction of all forms and tiers of government, which has basically never happened.
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Anything that ever came close, was probably the 30 years war and the Post WW2 years of 1946 to 1950 for the defeated nations.
 
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Male Idiot said:
A full dinosaur like event is extremely unlikely. Gold is just good if your fiat goes belly ups like with Germany. Even if your country -does- collapse, the neighbouring ones would impose order. And your gold won't loose value. Your fiat may.
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I've spoken to several old folks before they shuffled off the mortal coil and a bunch of old women told me jewelry was a good idea because it's how you pay bribes and several old men told stories about sneaking metal out of whatever country they were trying to escape. One guy talked about how people made buttons out of gold or platinum, painted them, and sewed them into their clothes like tiny little Maltese falcons.
 
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Male Idiot said:
A full dinosaur like event is extremely unlikely. Gold is just good if your fiat goes belly ups like with Germany. Even if your country -does- collapse, the neighbouring ones would impose order. And your gold won't loose value. Your fiat may.

If those are fallen too, like a hypothetical meteorite hitting Straya, than those farther away would take charge eventually.

Also, remember. Currencies can be replaced. Perhaps the USD would be replaced by the United States Shekels, USS. It is very unlikely, but still -more- likely than the US collapsing into mad max land.

But if you want to look at what can happen, just look at the loosers of WW2. And those nations had it harder than a bank collapse.
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Exactly. I mean, everyone is predicting doom and gloom, but obviously the system of late-stage capitalism is completely unsustainable. Its collapse IS inevitable. You cannot have massive wealth concentration and a healthy society. You can't keep printing bullshit and just keep pretending everything is ok.

The problem is everyone wants this party to keep going instead of preparing for its end, so instead of having a large inflatable cushion, what we've built is 2x4s, nails and razorblades with rough, unpaved concrete underneath.

China at least knows what to do when its financial industry fucks up: It busts into its stock markets with type 54s and puts them to the broker's heads and say 'if you start trading I'll blow your fucking brains out' and hedgies who make problems vanish suddenly without a trace. And if there's a bank run, they just block the banks with T-36s.
MrJokerRager said:
Anything that ever came close, was probably the 30 years war and the Post WW2 years of 1946 to 1950 for the defeated nations.
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Even then, there was the US with the Marshal Plan.
 
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Lol, faggot



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