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

[Absolutego]

Can someone explain what’s actually happening to CS? I’ve read this entire thread and never saw an explanation as to why they just shit the bed so suddenly.

They over-leveraged into tech startups the same way SVB did and the same run that killed SVB is fucking them over hardcore.
Unlike SVB, that wasn't their raison d'etre, so they didn't outright collapse, but they're still having to put out a lot of public bulletins about how they didn't make the same mistake, so please stop withdrawing funds, also there is no crisis, etc, etc.

 

[Bananadana]

Can someone explain what’s actually happening to CS? I’ve read this entire thread and never saw an explanation as to why they just shit the bed so suddenly.

A variety of factors, but the primary kick in the ass was that the saudi central bank who used to prop up CS by buying shares has reached the 10% ownership boundary, after which they would have to jump through a ton of regulatory hoops to buy more. So they announced that they wont invest any more money into CS.

 

[Kheapathic]

Went to my Chase branch after work; told me they're only allowing withdrawls of a certain size, anything more will require an advanced notice. Claiming they're not scared, but come on, you don't put restrictions on unless something is up.

 

[Cpl. Long Dong Silver]

Oh boy

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Virgin Orbit pauses operations for a week, furloughs nearly entire staff as it seeks funding

What's telling about our current year is a good amount of the space companies are valued under ten dollars a share. It's almost like we are forsaking the stars so we can pump out more gibs for niggers. If we were serious about space you wouldn't have an orbital company trading for under a dollar.

 

[Absolutego]

What's telling about our current year is a good amount of the space companies are valued under ten dollars a share. It's almost like we are forsaking the stars so we can pump out more gibs for niggers. If we were serious about space you wouldn't have an orbital company trading for under a dollar.

Until the first gigachad builds a proper space elevator space stocks will never be more than a dalliance for wealthy nerds because the economics of attaining orbit make literally zero sense.

 

[Whoopsie Daisy]

The TP thing was the perfect psy-op, because it's something absolutely everyone, everyone, from all walks of life, relies on. It was incredible how well it worked, too.

something that everyone relies on and absolutely nobody needs. If things got that bad, kitchen roll, a washable cloth or do as our muslim brothers do; 3 fingers and a watering can.

yet everyone panicked because zomg teh arse wipez. I buy TP on offer and in bulk, so i get a years worth at once (48 rolls, with 24 rolls free of the silkiest bumcloth money can buy). Why everyone needed to buy 10 years worth of shit-rag instantly proves how good the psy-op was.

 

[Kheapathic]

So how long do we wait / what do we look for, to know when to buy to maximize the shell game?

 

[Constellationzero]

Went to my Chase branch after work; told me they're only allowing withdrawls of a certain size, anything more will require an advanced notice. Claiming they're not scared, but come on, you don't put restrictions on unless something is up.

Why didn't you go all Mary Poppins yelling "SOMETHING'S WRONG! DEYY WON'T GIVE BACK DAT LITTLE BOY'S TUPPENCE!"

C'mon, maaaaan!

 

[Meat Target]

As I shared in the US politics thread, Moody's has downgraded six regional banks. Four of those are in deep Red states, one in Arizona, and one in San Francisco.

As I prophesied, they are punishing the small banks for the Big Banks' fuckups.

"Never let a crisis go to waste. You may be able to do things you couldn't do before," says Rahm Emanuel. For example, consolidate an oligopoly.

 

[Cpl. Long Dong Silver]

Be careful. While they may bail out depositors, they always shaft investors.

Both of my eyes are open. I ended up down on the day due to PACW shitting the bed but still up 100% on the aggregate. I'm not leveraging more than I'd be comfortable losing in an hour at a casino then going home. That's what the stock market is, a slightly more respectable form of gambling.

 

[Kheapathic]

Why didn't you go all Mary Poppins yelling "SOMETHING'S WRONG! DEYY WON'T GIVE BACK DAT LITTLE BOY'S TUPPENCE!"

C'mon, maaaaan!

I told them they're gonna give me some of my money; or I'm gonna leave and buy all the guns and silver I can.

When they relented I pulled out $2,500; $20x100 banded and $5x100 banded. Just to make them miserable.

 

[George Lucas]

A variety of factors, but the primary kick in the ass was that the saudi central bank who used to prop up CS by buying shares has reached the 10% ownership boundary, after which they would have to jump through a ton of regulatory hoops to buy more. So they announced that they wont invest any more money into CS.

Regulation

 

[Dr. Ricearoni]

I told them they're gonna give me some of my money; or I'm gonna leave and buy all the guns and silver I can.

When they relented I pulled out $2,500; $20x100 banded and $5x100 banded. Just to make them miserable.

Did everyone clap?

 

[reptile baht spaniard rid]

It only took one tweet for the western world to run out of toilet paper. Many people said that was a psyop and a test, many people were called conspiracy theorists.

Then we saw shortages on food, baby formula, fresh-produce and fuel, all because of social media panic. It will only take one tweet for the same masses to panic and withdraw their money.

We are one social media post away from every bank collapsing. Let that sink in.

the only thing saving us is people don't know HOW to withdrawal all their money without putting it into another bank, lol

As I shared in the US politics thread, Moody's has downgraded six regional banks. Four of those are in deep Red states, one in Arizona, and one in San Francisco.

Moody's got caught with their pants down and is now rapidly trying to pretend they actually do something useful

 

[Meat Target]

I told them they're gonna give me some of my money; or I'm gonna leave and buy all the guns and silver I can.

When they relented I pulled out $2,500; $20x100 banded and $5x100 banded. Just to make them miserable.

They can't just refuse to let you withdraw or deposit for no reason. It's your money. They can only refuse if they suspect you're doing something illegal, if they're not sure a check will clear, or if you are habitually overdrawn.

Even if you're above board, they may delay large deposits' availability by a few days, just to make sure the checks are good and clear properly. They also are required to report any cash transactions over $10k to the Treasury.

 

[Kheapathic]

Did everyone clap?

Only in my head.

They can't just refuse to let you withdraw or deposit for no reason. It's your money. They can only refuse if they suspect you're doing something illegal, if they're not sure a check will clear, if you are habitually overdrawn, or to fulfill their own government reporting requirements (any cash transaction over $10k has to be reported to the Treasury).

I know, and I don't want to simp for them; but they're the only bank in town, aside from a smaller credit union. Anything else is a good 40+ minute drive away, and with all the businesses as well as the people, I figure they were getting hammered and trying help as many as they can. They also see me on my weekly "Do you have any silver dollars, $2 bills, or other rare/unique items," that goes with a weekly withdrawl. I'm not planning to drop them, as they've been mostly good when I go across the nation or abroad; I'm just a spiteful idiot who doesn't like being told no with certain things.

 

[reptile baht spaniard rid]

They can't just refuse to let you withdraw or deposit for no reason. It's your money. They can only refuse if they suspect you're doing something illegal, if they're not sure a check will clear, or if you are habitually overdrawn.

Even if you're above board, they may delay large deposits' availability by a few days, just to make sure the checks are good and clear properly. They also are required to report any cash transactions over $10k to the Treasury.

they CAN limit the amount of CASH you can withdrawal, because of course not every branch has millions in a vault scrooge mcduck style; but if you hassle them you'll get your cashier's check

even without bank runs branches can run low on the green; if you want stacks and stacks of $2 bills you often have to order ahead

https://catalog.usmint.gov/bulk-purchase-program-landing.html or go this route lol (btw it's bullshit they charge more above and beyond for this, nobody wants those damn dollar coins and they're sitting on billions of them).

 

[Illuminati Order Official]

How it started:

That's what you get when you do business with troons.

 

[CaptainAutism69]

They over-leveraged into tech startups the same way SVB did and the same run that killed SVB is fucking them over hardcore.
Unlike SVB, that wasn't their raison d'etre, so they didn't outright collapse, but they're still having to put out a lot of public bulletins about how they didn't make the same mistake, so please stop withdrawing funds, also there is no crisis, etc, etc.

That's one of the most retarded things I've seen you type, and believe me, I've seen a lot.
First of all, SVB didn't fail because it overleveraged into tech startups, they failed because they made the dumb fucking mistake of using short/medium term deposits to buy long dated treasuries, which they couldn't afford to hold to maturity when the yield curve inverted. Then they double fucked up by selling these bonds at a loss; SVB went down because of a lack of risk management and stupid use of customer money. If they didn't go all in with bonds, and had some degree of risk management (i.e. planned for raising interest rates instead of acting like they would stay low forever, they would have been ok.

Credit Suisse has been bleeding non stop for years now with an almost never ending series of scandals (money laundering, fraud, etc...), and being hit by the failure of Greensill and Archegos in 2021. It's failed to make a profit for a while now, and when the SEC said 'eeeer wait!' when they wanted to release bullshit numbers last week, the doubt set in. SVB's connection to CS is little more than bad timing.
*Anyone* who is surprised CS was going to fail hasn't been paying attention for the last decade or so. At least DB restructured and downsized, so they *may* be ok.

 

[Kheapathic]

Pips Bunce sounds like a videogame character; one with rabbit ears, either genetically or as an accessory. Willing to bet this weirdo has a garden he plants carrots and frolicks around in.