FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed

[BigMoneyGrip]

https://archive.is/Zaly6

She done in AZ

 

[IIVI]

$19 lowest yesterday, $40 today.

 

[Json]

So they are are bailing out depositors of Signature Bank. So will the Treasury bailout Coinbase too, if they go under? Signature and Coinbase have a similar amount of assets.

Cryptobros said the entire appeal was not being beholden to fiat currencies and governments?

 

[jdubnyce]

$19 lowest yesterday, $40 today.

Almost....orchestrated

 

[Lexington Steele]

 

[Black Mamba]

$19 lowest yesterday, $40 today.

I should’ve bought shares

 

[humminbird]

$19 lowest yesterday, $40 today.

covered calls I bet

 

[voltronblack]

Economist Michael Hudson analyzes the collapse of Silicon Valley Bank, Silvergate, and Signature Bank, explaining the similarities to the 2008 financial crash. He also addresses the US government bailout (which it isn't calling a bailout), the role of the Federal Reserve and Treasury, the factor of cryptocurrency, and the danger of derivatives.

Check out the playlist for the show that Michael Hudson co-hosts here, Geopolitical Economy Hour:



Michael's column "Why the US banking system is breaking up": 2023 - Geopolitical Economy Report...

Michael's other article "Why the US bank crisis is not over": 2023 - Geopolitical Economy Report...

About | Michael Hudson

Michael Hudson, author of Killing the Host and Distinguished Research Professor of Economics at the University of Missouri (Kansas).

michael-hudson.com

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of Super-Imperialism: The Economic Strategy of American Empire (Editions 1968, 2003, 2021), ‘and forgive them their debts’ (2018), J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others.

ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate. We also engage in the economic history of the ancient Near East.

 

[DrBanneker]

I'm in my late 40's..I remember 2008 VERY WELL and seeing that '88 in your name, you're in your mid 30's so I don't know if you were affected by that bullshyt back then but I SURELY fukkING WAS.

shyt popped off in March with Bear Stearns falling the fukk over and they TRIED hard as hell to keep the shyt from buckling for at least six months until Lehman Brothers gave up the ghost in September and all hell broke loose. They even encouraged motherfukkers to keep investing in the market through that "eye of the storm" period and once Lehman gave up the goods, nikkas portfolios got NUKED. My fukking advisor at Wachovia committed suicide over that shyt..I lost over forty grand with him which is small potatoes compared to homeboy losing all his family's and wealthier clients money.

Here's the thing..it took damn near almost three years for the banking system to recover from that. You had 40+ bank failures for three years straight from 2009 to 2012.. we're a little more than ten years removed from that and we're right back in it because NOTHING WAS FIXED, if anything we got more bullshyt outside of housing and mortgages to deal with specifically goddamn car loans and the bond markets. Don't be fooled if shyt settles a bit cause it takes time for collateral damage to hit.

People don't realize it wasn't just tech. A lot of Napa and Sonoma wineries had their money in SVB too. My business has a large customer out there, I am praying they in Wells Fargo and shyt.

 

[DrBanneker]

Yea i was in college in those days, i remember very clearly. like one my favorite economist says all the fed did is kick the proverbial can down the road..

its not surprising non mainstream economist have been repeating the same since 08. i was more so laughing at nikkas saying to print more money

If the Fed pivots and drops rates, the USD gonna be ass in the medium term.

 

[bnew]

 

[FaTaL]

I’m sure they did that after taking out their cash first

 

[DrBanneker]

Per the Financial Times, one of the first VCs to tell their companies to pull their funds was Elon's best bud Peter Thiel and his Founders Fund.

 

[bnew]

https://archive.is/5Mvub

this is so weird that barely any verified financial news outlets on twitter are reporting on this. WAMU in 2008 and Silicon Valley bank tried to do the same thing right before they failed.

https://archive.is/hogpr

Wells Fargo Filed $9.5 Billion through Mixed-Securities Shelf Offering

Today, Wells Fargo filed structured notes with the SEC as part of its regular course of business. The purpose of

beststocks.com

even google news only has one article mentioning it.

edit:

note: I made this post 7 hours after news of the shelf offering was announced by the company.

 

[bnew]

https://archive.is/WVsGI