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Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?

Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?

Silicon Valley Bank online banking system and mobile services are now unavailable for business clients. The stock is down over 80% yesterday alone.

In 2021 SVB saw a mass influx in deposits, which jumped from $61.76bn at the end of 2019 to $189.20bn at the end of 2021.

As deposits grew, SVB could not grow their loan book fast enough to generate the yield they wanted to see on this capital. As a result, they purchased a large amount (over $80bn!) in mortgage backed securities (MBS) with these deposits for their hold-to-maturity (HTM) portfolio.

97% of these MBS were 10+ year duration, with a weighted average yield of 1.56%.

The issue is that as the Fed raised interest rates in 2022 and continued to do so through 2023, the value of SVB’s MBS plummeted. This is because investors can now purchase long-duration "risk-free" bonds from the Fed at a 2.5x higher yield.

This is not a liquidity issue as long as SVB maintains their deposits, since these securities will pay out more than they cost eventually.

However, yesterday afternoon, SVB announced that they had sold $21bn of their Available For Sale (AFS) securities at a $1.8bn loss, and were raising another $2.25bn in equity and debt. This came as a surprise to investors, who were under the impression that SVB had enough liquidity to avoid selling their AFS portfolio.

Here's what happened to the banks stock price: 

This is big, a woman I spoke to is an MBA at a small tech company. She said her company was freaking out and was trying to pull money out all day and all the transactions are still “pending”. There are so many of these smaller tech companies out there that aren’t even profitable yet and they could easily go belly up over this.

This goes way beyond just some banking contagion.

401-K Withdrawals being Delayed MONTHS!

Word from money giant VANGUARD is that people with 401-k's who have been trying to make "Hardship withdrawals" for the past two months, have been stymied by VANGUARD.

According to one customer, he has been trying to take money out of his 401-K to pay down some medical debt.  People with 401-K's can make what are called "Hardship Withdrawals" to get some cash during troubled finances, and minimize the tax impact.

Instead of giving this one man his money, VANGUARD demanded to see the Explanation of Benefits (EOB) from his health insurance!  The guy sent it, showing exactly the medical procedure he had done, the charges, what the Insurance paid, and what his portion is.  That was two months ago.  According to the man, VANGUARD has still not sent his money and each time he calls or writes, he is told either "We need the EOB" or "The transaction is still pending."  

Result:  No money from VANGUARD!

banks are hurtin..

SIVB  -60.41%
BKX  -7.70%
GS  -2.06%
MS  -3.86%
CUBI  -8.93%
FRC  -16.51%
SASR  -7.13%
NYCB  -6.33%
FFWM  -8.80%
ALLY  -7.00%
DCOM  -2.15%
PPBI -7.50%
PB  -4.51%
CLBK  -3.54%
CMA -8.01%
FHN  -1.97%

Moreover,  BCS -3.60%

Watch Barclay's.

Deutsche Bank collapse 10% before slightly recovering in opening trading

 

CREDIT SUISSE WINDING DOWN???

The Depository Trust & Clearing Corporation is an American post-trade financial services company providing clearing and settlement services to the financial markets.  The organization posted THIS NOTICE about Credit Suisse yesterday:

This has left many people wondering if Credit Suisse is dead?

 

WELLS FARGO ISSUES?

Reports are coming in as of 7:46 AM EST of money missing in wells Fargo accounts this morning.

They are claiming a direct deposit issue. we will see.

 

STOCKS TOO!

Stock markets across Asia down 3%, German and French exchanges just open down 1.8% in minutes, London down 1.6%

 

Hold on to your hats!

Fed might be forced to reverse monetary policy next week!!

Black Friday …Black Monday??

Comments   

# OT from ROMEMildB 2023-03-11 12:29
~
News
USA: House & Senate vote unanimously to push Covid “virus” narrative

https://www.fromrome.info/2023/03/11/usa-house-senate-vote-unanimously-to-push-covid-virus-narrative/

Editor’s Note: This is a vote 100% in favor of the BigPharma Scamdemic, because by wanted a release of information about the origin of a non-existent virus, they uphold the fake narrative of a Pandemic, which in fact never existed except to convince 7 billion to take the DeathVaxxes, destroy their own health through the DeathMask or DeathSwabb and come under the permanent control of the globalist elite, at the level of human rights and health decision. — When and if Nuremburg 2.0 is held, ever politician who voted for this should be on the list of those to be prosecuted, under penalty of death, for intentional fraud to deceive humanity to take poison.

Attention: Left a note attached, to ask what Rome is doing in excommunicating THESE MURDERS?

Attention to those of the faithful in Christ,
AT ROME.

You have the facts now start with Nancy Peloci , Chuck Shummer, and Mitch McConnald. All the one~ MURDERS!

Keep your Knights in protection prayer.

By My Oath and in Jesus Name,
MildB
+2 # Yellen Says Treasury Is Monitoring ‘a Few’ Banks Amid SVB FalloutGruntpa 2023-03-10 15:56
SMH
Bank’s Problem
If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
John Paul Getty

https://www.marketwatch.com/story/yellen-addresses-silicon-valley-banks-woes-saying-shes-monitoring-a-few-banks-979ec0fb?mod=hp_minor_pos26
+6 # Niled it again!Red Deer 2023-03-10 14:21
For months Hal has been warning everyone about the fragility of the banking system.

Even with caveats about not being a financial advisor or offering financial advice, his common sense assessment of the situation seems to be unfolding here and now.

Over the few last months, I have been pulling small amounts of cash in the event such a situation, now unfolding, could take place.

Glad I did as now I have the cash to pay my property taxes and feed the family with out the fear of dealing with an insolvent bank.

Thanks again Hal!
# HEADS WE LOSE, TAILS WE LOSE!Plowboy 2023-03-10 14:16
When pressed abut the ultimate end game of his broke economic ("Modern Monetary") theory John Maynard Keynes is said to have responded, "In the end we all die"?!

According to the Austrian economic model the so-called Federal Reserve has painted themselves into a corner. Heads they can continue with their present policy and take us into the "Greater Depression" or Tails, they can "pivot" us into hyperinflation?!
-1 # Two Strong ProphesiesDolph 2023-03-10 13:14
Last November 14, Corria T. had a dream of the East Coast of the US with a straight black line running from Maine to Florida some distance in from the ocean. She felt water come up around her feet and the whole East Coast WAS GONE! She knew this was a warning and before she woke up she heard an audible voice say, "FOUR MORE MONTHS". (That would be this coming Tuesday). After she woke up she prayed and asked the Lord if this dream was from Him. She then had a conversation with a believer in Arizona who asked, Have you seen the video I posted last night about a prophecy of a tsunami coming to the East Coast of the U.S.? This was the same night as her dream! Stan Johnson of the Prophecy Club reported this last week and noted there have been approximately 20 prophetic dreams and visions over the past ten years of a giant tsunami hitting our East and Gulf Coasts. Corria didn't know what caused the tsunami, if it was a bomb or an asteroid but WAS GIVEN A SPECIFIC TIME, IN FOUR MONTHS!

The second dream was given to Richard Mew early last year about war coming to America on "3/15/1" with 12 nukes hitting 12 cities. He was waiting for it to happen last year and when it didn't happen he determined the strange date given with "1" meant in one year or this coming Wednesday, March 15.

Also, Turkey and Syria were recently hit my a huge earth quake with 30,000 deaths. This could easily be part of the sixth seal of Revelation which includes the "great day of the Lord's wrath", Rev.6:17. The pre-wrath rapture Christians have said for years that this is when the Tribulation starts in earnest.

If a devastating tsunami hit America it would be a perfect opportunity for Russia and China to attack and invade. Isn't it interesting these two prophecies are coming at a time when the well informed people of this site are already on the edge of our seats?!
# So?MildB 2023-03-11 12:33
~
You would pisseth in your panties if I was tell you on just one that I get LOL!

Really you need to stop with this dream vision crap and go get a real job lol!

Love you,
mb
-3 # Last Call? Vicki Goforth ParnellDolph 2023-03-10 17:03
I'm On My Way! https://www.youtube.com/watch?v=FfQyH9mRGmE
# Does sheMildB 2023-03-11 12:34
~
Swallow too?
-1 # RE: Two Strong Prophesiesdaniel_martin 2023-03-10 13:54
a few SU Defectors told the Russians have nuclear mines on East Coast and England seabeds up to 300mega in response to US missiles in Europe. Czar Bomb was 50. I read a few prophecies saying England will Sink and the ocean will reach near Berlin. North France Belgium gone. Some Americans/Canadians are dreaming the same about East Coast. I didnt saw this, I just saw the bombardment. God do warn before Cataclysms, thats how people survived Flood/Atlantis etc. A young Armenian boy saved his entire village before the WW1 Genocide, leading them to California, then again in the 1990s to a very high city in Colombia. Yes Armenians left America due to a prophecy. Peasants tend to Mock this, bc they are just workhorses Locked in the Matrix (work-bills-die). But I assure you, The Elite/Deep State Secret Societies take this very, Very seriously. Perhaps thats why the riches are buying bunkers in Greenland and The Alps? They bought so much state in New Zealand that the NZ Gov outlawed it. Rats fleeing= Ship sinking. Both US-SU had Entire Agencies dedicated to paranormal info. There are ancient prophecies held in secrecy leaked that you wouldnt believe
-5 # YIKES!MildB 2023-03-10 13:30
~ You sow this weed seed?

"Also, Turkey and Syria were recently hit my a huge earth quake with 30,000 deaths. This could easily be part of the sixth seal of Revelation which includes the "great day of the Lord's wrath", Rev.6:17. The pre-wrath rapture Christians have said for years that this is when the Tribulation starts in earnest."

ARE YOU NUTS!

It is clear to all your a common core math graduate.

30,000 vs 1/3?

Your post are only a different type of WEED SEED.

Please stop your silliness.

That is all.
-2 # Poland agrees to joint transfer of MiG-29 jets to Ukraine, says Slovak defense minister?MildB 2023-03-10 12:28
~
https://news.yahoo.com/poland-agrees-joint-transfer-mig-130500496.html
-2 # Poland Wants A Piece Of The PieDolph 2023-03-10 13:25
They already have 20,000 troops in the game. Reminds me of Italy in both world wars.

Poland grabbed half of Germany after WW II.

This is part of the reason God is judging the world.
-5 # Piff 20,000MildB 2023-03-10 13:34
That many flew over in the last couple of days?

Again, it is clear to all your a common core grad.
-4 # Every Bank Every Fiat Moneydaniel_martin 2023-03-10 12:00
Is a giant Tulip/Ponzi. Sure They are defended by the "too big too fail" Gov Support so you broke they dont. Theres a Reason GOVs and Banks are obsessed with Gold.
+1 # A good laugh to start your dayPaul Kurzlee 2023-03-10 11:58
Why are people not hunting down these corporate pigs running this ripoff? If people would eliminate some of them at least the country would not be going like this. These ceo cocksukurs of these banking firms need to be taken out of the picture.
On a much better story about the Russian attacks of mar. 9 here is a good one to make your day a little more happy. Tells us about how the Russians killed a lot of SCUM from nato and also from gringostan as well. Good read to give you a good laugh at least. The more of these pieces of shit that get killed the better off we the people will be. And these banksters too need the same treatment hunt them down.
Have a good laugh here now and read about some DEAD gringos in ukraine.
https://www.theinteldrop.org/2023/03/09/disaster-russian-hypersonic-missiles-wipe-out-us-nato-secret-command-in-kiev-dozens-of-top-us-officers-vaporized/
+1 # BoomAussie for Yah 2023-03-10 19:38
Boom boom boom US/NATO Secret Command in Kiev Vaporized. haha
+1 # RE: BoomPaul Kurzlee 2023-03-10 20:43
Quoting Aussie for Yah:
Boom boom boom US/NATO Secret Command in Kiev Vaporized. haha

YES Indeed mate. Russians killed lots of nato shit with the missles and of course the awesome **MACHINE** thats works so good on these pieces of shit from ukraine and their nato shitbags.
Boom......Boom...........boom..........boom........boom.............boom........boom and another pile of mangled hamburgur appears. More DEAD SCUM from ukraine. Stoooopid fukurs they are.
Boom.........Boom...........Boom..........Boom.........Boom...........Boom.........Boom
MORE DEAD SHITBAGS. LOL LOL LOL LOL LOL LOL LOL LOL
KILL MORE OF THESE USELESS PIECES A SHIT.
Boom.........Boom..........Boom..........Boom.....Boom goes da **MACHINE**. LOL LOL LOL Move er ahead another 100 feet boys, just roll over the dead piles of shit in the way. Drive a tank over them dead pieces of shit. LOL Squish goes the SCUM.
So good to know that close to a hundred thousand or more of these cock sukurs from the bahkhut fight is now DEAD. LOL LOL LOL LOL LOL LOL LOL LOL
It just keeps getting funnier the more DEAD ukraine SCUM the better.
# RICOunixguru24 2023-03-10 13:09
All of the big banks and hedge funds are in violation. Worse than the mob.
+3 # Breaking...FewThereBe 2023-03-10 11:57
---

BREAKING:

Quote:
Silicon Valley Bank (SVB) has been shut down by regulators, FDIC to protect insured deposits - CNBC

Largest bank failure since 2008.

https://www.cnbc.com/2023/03/10/silicon-valley-bank-is-shut-down-by-regulators-fdic-to-protect-insured-deposits.html
BeSureYouAreSaved.com
+1 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Eddamnit 2023-03-10 11:49
The money changers and those that put their faith in them get what's coming to them.
# RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Paul Kurzlee 2023-03-10 12:00
Quoting Eddamnit:
The money changers and those that put their faith in them get what's coming to them.

Hopefully people start hunting them.
Banksters.
Make them afraid to show themselves. Would only have to kill a few of them to make a difference.
+1 # BangAussie for Yah 2023-03-10 19:41
Bang bang bang the banksters haha
+1 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?selah 2023-03-10 11:46
https://www.zerohedge.com/markets/silicon-valley-bank-crashes-65-halted-pending-news
+1 # Bank Pivot ?BanjoDoug 2023-03-10 11:43
I am betting the Central Bank, ie Federal Reserve, is not gonna pivot (drop rates).... The deliberately started this 'rate increase' and proceeded at the quickest rate in history..... Just yesterday I say a Fed stmt they were planning a 1/2% rate again (this mo ?).....

So I am betting, with my $$$, that rates continue up and I am shorting the markets in a big way....
+1 # Plz excuse the....BanjoDoug 2023-03-10 11:50
..... the auto corrections and finger missing the correct keys on my phone....
# Real bank to watchDwilliamsDDS 2023-03-10 11:32
One of the most important banks to watch is Detusche Bank. They are strong and interconnected. Strength matters during bumpy times.
+1 # DB IS WALKING DEAD!Plowboy 2023-03-10 14:20
There is no way in hell Deutsche Bank survives the economic impacts of the terrorist attack by the USG on the Nord Stream pipelines!
+1 # Mighty Mouse linksERing46Z 2023-03-10 11:31
Excellent "must have" vids to share with those who arrive to the truth party a bit late...
+1 # RE: Mighty Mouse linksPastorK 2023-03-10 11:51
Quoting ERing46Z:
Excellent "must have" vids to share with those who arrive to the truth party a bit late...

Do you have specific links?
+1 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Coburnjames241 2023-03-10 11:11
The issue with Wells Fargo is a fact my bank account through that bank is jacked up. In my most recent deposit which was already showing as of Wednesday you just vanished overnight
+2 # Stock Market con gamechip 2023-03-10 11:08
As of 11:05 am EST, stock market is up.
Thank you plunge protection team. I
Can't wait to see the thing implode and
the plunge team powerless to do anything
about it.
+1 # Inevitable...WilliamtheResolute 2023-03-10 10:48
The financial collapse is coming, it's not if...it's when. The dollar will be the last fiat standing since it's the world reserve currency, You want to hold some dollars going into the crash (if you can get them from the bank) when the meltdown really gets going you should already be holding some gold...and guns/ammo/food.
+2 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Mighty Mouse Says 2023-03-10 10:28
G. Edward Griffin - The Grand Design: The Hidden Plan That Shapes US Foreign Policy https://www.youtube.com/watch?v=h9P_2HqWRhU
+2 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Mighty Mouse Says 2023-03-10 10:26
More Deadly Than War - G. Edward Griffin https://www.youtube.com/watch?v=i4vTHwvioZ4
+2 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Mighty Mouse Says 2023-03-10 10:25
The Creature From Jekyll Island (by G. Edward Griffin) https://www.youtube.com/watch?v=lu_VqX6J93k
+2 # WWIIIVercinge 2023-03-10 10:23
THE JEWISH ARE WAKING UP (but not yet sufficiently). Mrs. Avril HAINES, in fact, has not yet understood that Russian side is far strenghtener than American one. Unfortunately for Americans she will understand it only when it will be too late for Zionist United States.

NATO-Russia direct clash possible': U.S. intelligence's big warning amid Ukraine war |

The U.S. intelligence community fears a potential direct clash between NATO and Russia.

The Director of U.S. intelligence, AVRIL HAINES, is a Jewish woman, as always, when the American Jewish population is about 6 millions and the no jewish are about 330 millions of Goym slaves! This is an absolutely absurd and unaccettable disproportion which is pushing USA (and the planet, of course) towards WWIII.

She said (without understand anything about Russia, as always) that Moscow wants to prolong the war in Ukraine in which 'neither side has an advantage.' Earlier this year, an unclassified intel report of the U.S. intelligence stated that Russia will remain a formidable challenge for the U.S. and its heightened claims about Washington's involvement in the war could presage further escalation.

https://www.youtube.com/watch?v=6E3culu0nfc
+2 # There's a problem..Lexie 2023-03-10 10:23
Tried sharing this article to my twitter account a number of times but no can do. Anyone else having same difficulty?
+1 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Mighty Mouse Says 2023-03-10 10:18
The Money Masters - Full Length https://www.youtube.com/watch?v=AOk3wBuQNcE
+1 # Vanguardjchoals 2023-03-10 10:18
I have a 401K with Vanguard. Last fall I sold off all my stocks and placed my money into a Vanguard Money Market account. I have then been doing partial rollovers to more trust worthy IRA account.
My suggestion to the person that can't get their money out of Vanguard. Time to let your attorney handle it.
+1 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Mighty Mouse Says 2023-03-10 10:17
Live: Treasury Secretary Yellen joins House hearing on Biden's FY2024 budget https://www.youtube.com/watch?v=-Av7d1TZRto
+1 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Mighty Mouse Says 2023-03-10 10:14
Fed Chair Jerome Powell testifies before Senate Banking Committee https://www.youtube.com/watch?v=RNQqB-RHqXw
# Why Silicon Valley Bank's crisis is rattling America's biggest banksGruntpa 2023-03-10 10:09
+6 # Credit Unionsellis 2023-03-10 10:03
I am convinced that medium size, well established,conservative credit unions are the way to go for daily banking. The big banks just pull too much shit. It’s like they think the money is theirs.
+5 # RE: Credit UnionsJFY 2023-03-10 10:26
Quoting ellis:
The big banks just pull too much shit. It’s like they think the money is theirs.

Well yeah...

When people put their money into the banks, it becomes the bank's money by contract.The dirty thieves changed that a number of years ago. It literally becomes theirs.
+2 # .Haywardus 2023-03-10 10:09
They should be fine as long as they don’t use US Dollars……
+1 # Other banks too.ellis 2023-03-10 10:00
The move weighed on the financial sector and banking stocks, with the SPDR S&P Regional Banking ETF down more than 4%. Some bank stocks were halted during early morning trading, including First Republic, PacWest and crypto-focused Signature Bank. Shares were last down about 38%, 25% and 22%, respectively.
Banking bellwethers Bank of America, Wells Fargo and Goldman Sachs also fell during early morning trading, last down 4.5%, 2.6% and 4%, respectively.-CNBC
+3 # I just noticed thisChappyusa1 2023-03-10 09:57
Check this out:
Credit card clients may notice servicing outages while we work on system updates through March 12th.

Today is March 10th. Hmmm.
+1 # When I read this. I did this.Chappyusa1 2023-03-10 09:54
Once I saw this, I got my phone and checked my bank. Trust bank, application wasn't working. I was like oh great.

I then make my way to my PC and logged in from there. That was working fine,

As of this writing, I just checked my phone app again and it's working.
+1 # █▓▒░ The Crumbling World Financial System Desperately Needs A Gold Anchor ░▒▓█Palehorse 2023-03-10 09:33
|

Today, that anchor is fiat currency, which is both parochial
and unstable. Historically, and in law it has always been gold.

March 9 (King World News) – Alasdair Macleod,
head of research at Goldmoney

At the last count, foreign ownership of dollars and
dollar-denominated financial assets totalled about
$30 trillion, somewhat more than the US’s entire GDP.

For the eighty-one government delegations attending
Putin’s St Petersburg Economic Forum, it will rapidly
become a case of sell while they can
.


https://kingworldnews.com/the-world-financial-system-needs-a-gold-anchor/
+1 # ChaseWildland9765 2023-03-10 09:29
No problem getting into Chase credit account a few minutes ago.
+5 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Gunner 2023-03-10 09:24
I am basically broke, let the shit rip. It should of happened many years ago and they have made the situation much worse. Govt is so incompetent and cobbled. Printing TRILLIONS of $$ out of thin air. Hmmm sure wonder why there is a problem.
+4 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?PastorK 2023-03-10 10:45
Quoting Gunner:
I am basically broke, let the shit rip. It should of happened many years ago and they have made the situation much worse. Govt is so incompetent and cobbled. Printing TRILLIONS of $$ out of thin air. Hmmm sure wonder why there is a problem.

Unfortunately Gunner, many aren't broke and they are depending upon their IRAs and 401ks to see them through retirement. All of these people are in for a terrible awakening. It is going to be very bad for them. That's when things will get dicey for everyone. I do not wish for that day to come any earlier than it's going to come.
+2 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?bleedingblue 2023-03-10 08:54
Central banks will collapse the system when they are darn good and ready too. They can control what's going on through there schemes because they have a plethora of them. Just like printing up money by keystrokes and giving it to foreign banks and corporations and they in turn buy U.S. bonds. The financial system is a complete scam where its designed to keep the honest everyday working schmoe broke or barely above water and the well placed,.corrupt politicians/ corporate fatcats/ billionaires as our masters on the plantation.
How can Bill gates and George Soros give away tens of billions every year for decades and still be worth 100 billion? Because they are given the money for them to dole out to enslave us.
They can collapse the whole thing today or kick the can down the road another 15 years like they have since 2008.
They blame inflation on the common guy receiving a check for 700 bucks from the government if you qualified but yet cars have exploded in price, housing, supplies, food etc etc. And it's multiples higher than what little they gave out to the people. So obviously the money is being poured in to banks and they in turn are buying stocks driving the base costs up and the mega corporations are then instead increasing costs 4% to offset those expenses to doubling and tripling the cost to the consumer.
+7 # RE: Financials getting destroyed. Silvergate Capital, SVB Financial down 70%, rumors of bank runs. Credit Suisse Winding Down?Lambs Servant 2023-03-10 08:49
Thanks Hal.
+9 # Quickly look surprised!!!Stefanjunior 2023-03-10 08:15
After reading this post I tried to log into my Truist account app and an "service unavailable" message displays. That the services that I am attempting to access are currently unavailable, to try later. Luckily I keep minimum of my money in banksters hands. Maybe enough to pay my monthly expenses. As I was advised long ago, invest into the triple B (BBB) beans, bible, and bullets.
+7 # Can colaborateHt247BR22 2023-03-10 08:06
Logged into my Wells Fargo account this morning and received a notice that all of my accounts may have incorrect balances and/or missing transactions. This afternoon could be quite telling
+6 # HmmmSBGlett77 2023-03-10 07:57
.
Looks like you hit the week right, Hal. I had wondered why the markets shot up yesterday on "jobs" information hinting at Fed easing, then started plummeting about a couple hours later.

I do not think the Fed will be able to stop the slide. Though they give the impression they control interest rates, they do NOT. All they can do is start creating and pumping keystroke money into the financial sector to cause liquidity. At this point, they make depositors and bankers whole with printed money, but in the process destroy capital ( long story ). Note that money is NOT capital in the economic sense. It is only capital to the financial system, because it is how they "earn" their money. Don't let them lie to us all. Anyway, destroyed capital makes for further supply problems of REAL goods, while at the same time increasing the slosh of money chasing those goods. All the Fed will be doing by "reversing" next week, is further feeding the inflation monster.

You were on top of this, and I have as a result been watching all week. Thanks.

 

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