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Silicon Valley Bank Bust Anonymous 03/12/2023 (Sun) 00:34:36 Id: 6db0d3 No. 19122
>Silicon Valley Bank: Biggest failure since 2008 financial crisis as US regulators close bank and seize assets https://archive.ph/08LLb <US regulators have shut down the country's 16th largest bank, in the biggest collapse of a financial institution since the 2008 financial crisis. <Silicon Valley Bank failed after depositors - mostly technology workers and venture capital-backed companies - began withdrawing their money, creating a run on the bank. <The US Federal Deposit Insurance Corporation (FDIC) has seized its assets. <It said the bank had $209 billion (£173 billion) in assets and $175.4 billion (£146 billion) in deposits at the time of failure. <It was unclear how many of the deposits were above the $250,000 (£207,000) insurance limit. <The bank's downfall marks the largest failure of a US bank since Washington Mutual during the 2008 financial crisis. <The FDIC could not immediately find a buyer for the bank's assets, signalling how fast depositors had cashed out. <It also seized the bank's assets in the middle of the business day, a sign of how dire the situation had become. <The financial health of Silicon Valley Bank had been increasingly in question this week after the bank announced plans to raise up to $1.75bn dollars (£1.45 bn) in order to strengthen its capital position. <Silicon Valley Bank had acted as a major financial conduit for venture capital-backed companies, which have been hit hard in the past 18 months as the US Federal Reserve has raised interest rates and made riskier tech assets less attractive to investors. The article goes on to say that this won't have any "knock-on effects for the rest of the market. But, needless to say, this is having knock-on effects for the rest of the market: >Crypto Shaken as SVB Exposure Depegs $37 Billion Stablecoin https://archive.ph/NbmPl >Investors implore the government to step in after Silicon Valley Bank failure https://archive.is/vuZdR >Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday https://archive.is/zYkBa So, what the fuck actually happened?
>>19122 bank runs monday morning. SVB may give out 50% of value first come first serve monday morning. Get your money while you can.
>>19122 Basically, the Gawker destroyer himself, Peter Thiel, tipped everyone off that SVB was over lent, mostly due to the bank trying a hail-mary and issuing over a billion $'s in new stock shares, and told his friends to get their money out ASAP. Classic bank run happens and the bank goes negative.
>>19122 This is gonna be fun
RIP
From the thread on /v/. >>>/v/797850 Yellen said "no bailout, but we're going to secure those unsecured deposits anyway" which is the definition of a bailout. https://www.zerohedge(Please use archive.today)/markets/yellen-says-government-will-help-svb-depositors-no-bailout-fed-fdic-hopes-talk-special Moreover, the emergency Fed meeting is happening because they're fucking shitting themselves at other banks having (collapse-level) runs starting on Monday, both in the stock market and by regular people/small businesses withdrawing everything they have. They don't have the kind of time they used to have to act anymore. Smartphones now let people transact nearly instantaneously, on a global scale. They can't just "shut the market for a day and use the Plunge Protection Team to bolster things secretly in the background" because they simply can't act quickly enough anymore. https://www.zerohedge(Please use archive.today)/markets/should-scare-hell-out-bankers-regulators-worldwide The Fed is actually weighing the idea of making it easier for smaller banks to reach the discount window (literally what caused the 2008 crash). Even I (you have no idea who I am, but trust me, I have a long history of believing that no good changes will happen in society, and every time I've said they wouldn't I've historically been proven right) now have a tiny flicker of hope that all the diversity hiring has made it so that ZOG institutions can't maintain themselves anymore, and they might actually make decisions that cause losses to THEIR power, not just ours. https://www.zerohedge(Please use archive.today)/markets/svb-latest-developments-live-blog-fdic-auction-failed-svb-assets-underway All this is happening in realtime, anon. They're desperately trying to come up with a solution before futures trading opens, and then before the Monday market opens (and businesses start needing their payroll they can't access). It's a wild ride. If this was a chimpout, we'd have a livestream thread God, I miss the good old days of those back on 8chan. >>>/v/797841 >>>/v/797849 It might not be a bailout but there will almost certainly be some money used to speed up asset recovery. Over 90% of balances are covered, the bank's positions just aren't liquid. They bought a bunch of bonds that aren't worth much right now and will take another 9-10 years to mature. The government could just give them the full value on the bonds now, which is a subsidy but it's just repaying a loan early. They could also front some money to make up the gap between what the remaining bonds cover and what they don't. I think most people would consider this a bailout but it's not and it wouldn't be called one by the government. They would view this as a way to stem more economic disruption. At the end of the day, it's fun to laugh at these assholes. They mismanaged their, and other people's money. They funded a lot of dumb bullshit. But they're not the source of the bullshit and it won't die with this bank. If companies can't make payroll then they're liable, regardless of the cause. It's potentially going to cause a ton of smaller firms to die, not because they didn't have assets but because they couldn't access them on short notice. And then when a bunch of people lose their jobs and those companies die, it just has a ripple effect on the economy. Why? Because the money was needed Wednesday and the earliest they could get a check was Thursday, so now the business has to close? If you got kicked out of your house or something over a payment that was one day late, and you gave notice it would be, you'd call bullshit. Hopefully the $250k FDIC insurance is enough to cover payroll until assets can be covered. If not, then Congress needs to, at minimum, pass a law waiving liability for late paychecks under this circumstance. Realistically, bailout or not, depositors are getting 90% or more of their assets back on average.
What's this I hear about Swiss and French banks now collapsing?
Will the economy actually collapse or is this just nothing? It seems like nothing is really happening at all. How is this shit any different from 2008?
>>19141 The goverment is panicking and the news is desperately changing the subject. It is exactly like 2008. which is the issue. The wound was never fixed only bandaged. And here we are once again bleeding out.
>>19142 If it's not like the 1929 crash, then ultimately, it is just irrelevant and meaningless, to the society as a whole. The jews move money around, print more money, run some bullshit cover stories about how printing less money is antisemitic and brainwashed nørmies will agree with it, jack off to black cocks and then forget it completely. During 2008, bread never costed $400,000,000 a loaf. In the Great Depression, Germany had prices like that. $5,000,000 for a chicken, $30 gorillion for a pair of shoes. $10 quadrillion for a bicycle. I don't think this shit will have much of an effect on society unless the West has Venezuela-tier prices for food, which seems unlikely. If the economy was really that bad, women would suck dick and swallow cum for a sandwich and some potato chips. Clearly the economy is not that bad.
>>19142 It is well documented in countries with hyperinflation and actual economic crises, average women become prostitutes to feed their children and/or themselves. Due to the currency being worthless, they have unprotected sex for room & board, food, clothes, foreign currency or precious metals, like silver or gold, which leads to a baby boom and an increase in sexually transmitted infections. In addition to that, black markets and parallel economies form and the nation's currency becomes worthless. None of that happened in 2008 because the economy was fine, for the most part. Here's some links describing the economic collapse of other countries: https://prephole(Please use archive.today)/surviving-a-year-of-shtf-in-90s-bosnia-war-selco-forum-thread-6265/ https://en.wikipedia(Please use archive.today)/wiki/Mid-20th_century_baby_boom https://www.pbs(Please use archive.today)/wgbh/commandingheights/shared/minitext/ess_germanhyperinflation.html https://iwpr.net/global-voices/women-trade-sex-food https://newsday.co.tt/2018/04/07/guns-sex-for-food/ https://www.ncbi.nlm.nih(Please use archive.today)/pmc/articles/PMC6957078/ https://www.ncbi.nlm.nih(Please use archive.today)/pmc/articles/PMC5321466/ https://financialpost(Please use archive.today)/news/economy/in-venezuela-people-break-off-flakes-of-gold-to-pay-for-meals-and-haircuts/wcm/a62ccec5-fb3c-4139-9d62-0c9bf734eba8/amp/
>>19144 1929 wasn't like Germany either. The US hadn't even left the gold standard domestically yet, even if some gold could find you some ridiculous deals if you were in the right place at the right time. It was just a depression with the expected suffering of the poor man and seizing and consolidation of assets by banks and others with the means to do so. 2008 wasn't hyperinflation either. It just fucked up a lot of people on the edge, put tons of people out of work, a lot of people lost big chunks of either a nest egg or a place to live, and kicked off the era of QE (which we're still ing). As to weather this tumbles in to terrible collapses as we might read about with massive bank holidays, currency devaluations, periods of rampant gangs and warlords, etc. remains to be seen. You should add FerFAL's book and website "Surviving the Economic Collpase" to your list. It's from his experiences during Argentina's first huge currency default, which was merely 3:1, back when the private jewish federal reserve bank corporation jacked interest rates way up to flush out all the bad investments. It's much more levelheaded than the typical shitposing about how all you need to survive is bullets or other such idiocy.


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