Liberal Forum

Majik » 11 Mar 2023, 11:46 am » wrote: ↑

11 Mar 2023, 11:46 am

Unfortunately, SVB’s situation is not unique.Thanks to rapidly rising interest rates, many other banks are also sitting on mountains of Treasury bills that have lost a lot of value…

For an extensive break down of why this is causing so much distress for our banks right now, I would highly recommend reading this excellent article.As I have been telling my readers, our system simply cannot handle higher rates at this point.But the “experts” at the Fed assured all of us that they knew exactly what they were doing.Now they have caused one of the biggest bank failures in U.S. history, and much worse is on the way if they do not reverse course.But I don’t expect the “experts” at the Fed to listen to any of us.They are just going to keep doing what they are doing, and we are all going to have to live with the consequences.

http://theeconomiccollapseblog.com/2nd- ... than-2008/

Who could have foreseen that creating trillions of dollars out of thin air would cause massive inflation?

**chuckle**
 
 

I'm just waiting on the NHB money guru weeweeman to chime in and call Cramer a monetary ignoramus.

 

@peepee  

RedheadedStranger » 11 Mar 2023, 4:34 pm » wrote: ↑

11 Mar 2023, 4:34 pm

I'm just waiting on the NHB money guru weeweeman to chime in and call Cramer a monetary ignoramus.

 

@peepee

"Elon Musk Claims He Is ‘Open to the Idea’ of Buying Silicon Valley Bank"

https://www.breitbart.com/tech/2023/03/ ... lley-bank/
 

roadkill » 12 Mar 2023, 4:43 am » wrote: ↑

12 Mar 2023, 4:43 am

"Elon Musk Claims He Is ‘Open to the Idea’ of Buying Silicon Valley Bank"

https://www.breitbart.com/tech/2023/03/ ... lley-bank/

I read in the news they lost 2 Billion dollars. Can't they just take it out of the CEO's salary?

PastorBlast » 12 Mar 2023, 4:51 am » wrote: ↑

12 Mar 2023, 4:51 am

I read in the news they lost 2 Billion dollars. Can't they just take it out of the CEO's salary?

I think he sold his shares for around $3.5 million. I think the loss is far more than $2 billion. 

This looks like the reason SVB collapse...I don't know if it's the whole but it might be.

"ESG makes less, costs more, and is a fraud." 

https://www.breitbart.com/economy/2023/ ... s-history/
 

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roadkill » 12 Mar 2023, 5:06 am » wrote: ↑

12 Mar 2023, 5:06 am

I think he sold his shares for around $3.5 million. I think the loss is far more than $2 billion. 

This looks like the reason SVB collapse...I don't know if it's the whole but it might be.

"ESG makes less, costs more, and is a fraud." 

https://www.breitbart.com/economy/2023/ ... s-history/

I read the Brietbart.  I am not sure how wokeness (whatever the hell it is)  makes 200 Billion Dollars vaporize,
 

PastorBlast » 12 Mar 2023, 5:12 am » wrote: ↑

12 Mar 2023, 5:12 am

I read the Brietbart.  I am not sure how wokeness (whatever the hell it is)  makes 200 Billion Dollars vaporize,

Just like it did when Obama was handing out money to green companies like Solyndra.


Climate change is a money making scam.

roadkill » 12 Mar 2023, 5:32 am » wrote: ↑

12 Mar 2023, 5:32 am

Just like it did when Obama was handing out money to green companies like Solyndra.

Climate change is a money making scam.

I grasp the concept that the feds raing the interest rates had impacts on their investments.  The failure did occur under Biden's watch.

Some argue Ukraine is a money making scam.  Human greed is a powful force and it always has been.

I am praying there isn't an enormous financial collapse tomorrow
 

PastorBlast » 12 Mar 2023, 5:42 am » wrote: ↑

12 Mar 2023, 5:42 am

I grasp the concept that the feds raing the interest rates had impacts on their investments.  The failure did occur under Biden's watch.

Some argue Ukraine is a money making scam.  Human greed is a powful force and it always has been.

I am praying there isn't an enormous financial collapse tomorrow

There might be a huge collapse. Time will tell. Some have been predicting it for a while.

roadkill » 12 Mar 2023, 5:50 am » wrote: ↑

12 Mar 2023, 5:50 am

There might be a huge collapse. Time will tell. Some have been predicting it for a while.

Well at least I only have 600$ in the new 401K I started with the new job Retirees will get crushed if it falls.

The 2008 collapse lost almost every dollar I had gained through years of investment. It did come back up under Obama.
 

PastorBlast » 12 Mar 2023, 4:51 am » wrote: ↑

12 Mar 2023, 4:51 am

I read in the news they lost 2 Billion dollars. Can't they just take it out of the CEO's salary?

>>starting to identify as an envy democrat<<

sootedupCyndi » 11 Mar 2023, 1:10 pm » wrote: ↑

11 Mar 2023, 1:10 pm

So? all the peeps with money in the bank -Go to withdraw their money? Do they get CASH? I get questioned like a criminal If I try to DEPOSIT a few grand? or withdraw?
I worked IN a bank.. the real money isnt THERE? anyone?

  Report from Hal Turner is saying that 42 billion was withdrawn beginning on the 8th and finally ending with a negative cash balance of 958 million. Why isn't someone at the bank saying hey that's it we are out of digital computer transferable money before another 958 million is withdrawn that the bank does not have?The collapse of Silicon Valley Bank was caused by a massive run on the bank, with customers initiating withdrawals of $42 billion this week.The bank was placed into Federal Deposit Insurance Corp. receivership on Friday after the California Department of Financial Protection and Innovation (DFPI) determined the bank had been rendered insolvent.Prior to the run on the bank, the bank was in “sound financial condition,” according to the DFPI. Customers withdrew $42 billion, leaving the bank with a negative cash balance of $958 million.Here’s the summary of what happened from the DFPI’s order taking possession of the bank:

On March 8, 2023, the Bank announced a loss of approximately $1.8 billion from a sale of investments (U.S. treasuries and mortgage-backed securities). On March 8, 2023, the Bank’s holding company announced it was conducting a capital raise. Despite the bank being in sound financial condition prior to March 9, 2023, investors and depositors reacted by initiating withdrawals of $42 billion in deposits from the Bank on March 9, 2023, causing a run on the Bank. As of the close of business on March 9, the bank had a negative cash balance of approximately $958 million. Despite attempts from the Bank, with the assistance of regulators, to transfer collateral from various sources, the Bank did not meet its cash letter with the Federal Reserve. The precipitous deposit withdrawal has caused the Bank to be incapable of paying its obligations as they come due, and the bank is now insolvent.

Prior to its collapse, Silicon Valley Bank was the 16th largest bank by assets in the U.S. Federal Reserve data shows the bank had $209 billion in assets as of December 31, 2022.

https://halturnerradioshow.com/index.ph ... ithdrawals

PastorBlast » 12 Mar 2023, 5:56 am » wrote: ↑

12 Mar 2023, 5:56 am

Well at least I only have 600$ in the new 401K I started with the new job Retirees will get crushed if it falls.

The 2008 collapse lost almost every dollar I had gained through years of investment. It did come back up under Obama.

Obama is one of the reasons it went down in the first place before he was prez.

roadkill » 12 Mar 2023, 6:06 am » wrote: ↑

12 Mar 2023, 6:06 am

Obama is one of the reasons it went down in the first place before he was prez.

No it was a bipartisan effort to deeregulate the banks prior to Obama.  Were you alive in 2008?
 

PastorBlast » 12 Mar 2023, 6:34 am » wrote: ↑

12 Mar 2023, 6:34 am

No it was a bipartisan effort to deeregulate the banks prior to Obama.  Were you alive in 2008?

Prior to that it was Obama and others that pushed for mortgages that people weren't really qualified for.  Housing collapse! 

roadkill » 12 Mar 2023, 6:38 am » wrote: ↑

12 Mar 2023, 6:38 am

Prior to that it was Obama and others that pushed for mortgages that people weren't really qualified for.  Housing collapse!

I won't disagree that Obama likely voted for the policies that deeregulated the banks. But Dubya was POTUS at the time. I think I remember the dems controlled the house.  A lot of fingers point at Barney Frank.

Greed is a bipartisan effort.  If nothing else the Republicans sat there with there thumb up their *** and did nothing.
 

PastorBlast » 12 Mar 2023, 6:45 am » wrote: ↑

12 Mar 2023, 6:45 am

I won't disagree that Obama likely voted for the policies that deeregulated the banks. But Dubya was POTUS at the time. I think I remember the dems controlled the house.  A lot of fingers point at Barney Frank.

Greed is a bipartisan effort.  If nothing else the Republicans sat there with there thumb up their *** and did nothing.

Sure...they all played a roll...but it was the left that threatened banks with the race card if they didn't give out all those risky loans. Then of course they offered the banks a guarantee so it became a win win for the banks and the tax payers picked up the tab just like they likely will with the collapse of the SVB.
 

They will open again tomorrow, things could get ugly...

Second Largest Bank Collapse in US History: What Happened to SVB, and What Comes Next?

..The Biden administration seemed oblivious to the brewing disaster (or apparently hoped the American people would be). The past three days’ worth of statements by the White House press office made no mention of SVB, but did include a “fact sheet” on how President Biden’s budget “advances equity,” featured a joint statement from Biden’s meeting with European Commission chief Ursula von der Leyen, as well as an explainer on the American rescue Plan’s “top 15 highlights from 2 years of recovery.”..