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

Kheapathic said:
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.
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Pipkin_Pippa_-_Portrait.png
 
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Stoneheart said:
CS got a stealth bailout from the Swiss national bnak, somebody will have to print alot of money to supply cash for CS....
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At best its a band aid on a shotgun wound to the stomach. CS has apparently been bleeding depositors for years now, and there is absolutely no way anyone is going to park Millions of dollars in a bank that is prices at having a 50/50 chance of default this year. Would YOU want to keep 10 million + dollars in Credit Suisse right now? Or would you be frantically staying up all night trying to get it out?
 
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mindlessobserver said:
At best its a band aid on a shotgun wound to the stomach. CS has apparently been bleeding depositors for years now, and there is absolutely no way anyone is going to park Millions of dollars in a bank that is prices at having a 50/50 chance of default this year. Would YOU want to keep 10 million + dollars in Credit Suisse right now? Or would you be frantically staying up all night trying to get it out?
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People with that kind of money don't deposit it in a bank.
 
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Hyperbola said:
Is there an Earth-logic reason why anyone would buy a near-zero% interest bond?

I mean, what does it *get* you?
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Well, there are entities legally obligated to own a certain percentage of their holdings in bonds, even though they are a dogshit investment. Like pension funds.

When you sell your bond on the secondary market, it’s priced with a few factors in mind for potential buyers: will I get my capital back? Can I get it cheap enough to offset the lack of interest?

So a bond I paid $100 for at 1.1% over ten years (lol) might only be sold for $70, probably less. The buyer can then get my interest along the way, plus my initial capital at maturity.

Bonds are terrifying in an increasing interest / high inflation environment. But might be worth it at the right price off the secondary market (but not for the original bag holder).
 
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The bank president where I work announced in an email that they are tabling the idea of limiting the amount of cash a person can withdraw at a time (per 24 hour cycle)
Literally no one is happy with this, but numerous customers have been pulling thousands of dollars out. Even more are asking if their account is insured (which per FDIC guidelines they are, capped at$250 k)
Someone previously mentioned Russia getting out of this collapse unscathed. I would add China to the list too. While they will at first be in pain after the USD collapses this decade, I think they will recover much more quickly.
 
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Hyperbola said:
Is there an Earth-logic reason why anyone would buy a near-zero% interest bond?

I mean, what does it *get* you?
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Think about why they went this route.
They had so much money that the lulzy bond rate was better than letting it sit as cash.
 
Hyperbola said:
Is there an Earth-logic reason why anyone would buy a near-zero% interest bond?

I mean, what does it *get* you?
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What you do is sell it to the Federal Reserve* for more than you bought it for, and you borrow money to buy it with to begin with, so it's just free profit for you.

*oops lol, not available to anyone except a few banks
 
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