philipma1957
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'The right to privacy matters'
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Leaving buddy to do his own thing seems to have been simply brilliant on my part. (maybe just lazy) 24k
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Torque
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Man, soooo much social media effort being expended to bolster public trust and quell the public to NOT do a bank run. But you know who is moving their money out of these smaller banks? The wealthy, that's who. Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now. https://twitter.com/BillAckman/status/1635109889302315008
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OgNasty
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Leading Crypto Sports Betting & Casino Platform
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This recent market strength has been impressive. You can tell that people are now using crisis as opportunity to grab themselves more BTC on the cheap. This is a pretty good sign that Bitcoin is currently undervalued and is being scooped up by investors. I wouldn’t be surprised if this strength carries us to $30K. It seems obvious the bottom for this cycle is in and a multi year bull market has begun.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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March 13, 2023, 05:01:16 PM |
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BobLawblaw
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Activity: 1865
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Neighborhood Shenanigans Dispenser
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March 13, 2023, 05:03:18 PM |
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Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.
I'm just trying to figure out how Charles Schwab, a historical investment savings and loan bank, got shut down trading today. To the best of my fundamental understanding of Schwab, they are extremely crypto averse, and have questionable if any ties to the larger contagion. Shit is super fucked up today.
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HI-TEC99
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Activity: 2772
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March 13, 2023, 05:08:43 PM |
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El duderino_
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BTC + Crossfit, living life.
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Biodom
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March 13, 2023, 05:13:08 PM |
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Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.
I'm just trying to figure out how Charles Schwab, a historical investment savings and loan bank, got shut down trading today. To the best of my fundamental understanding of Schwab, they are extremely crypto averse, and have questionable if any ties to the larger contagion. Shit is super fucked up today. what this has to do with "crypto" in the first place?...that s-t is completely unrelated and is primarily caused by the loan book losses due to the fast increases in interest rates. As now become apparent, FED told people in Dec 2021 that they would raise 1% in 2022. Instead, they did 4% or more. Accordingly, it becomes clearer why SVB bought MBSes yielding 1.5% in Dec 2021. Those are the securities they have 10% loss in, which gave them 2bil loss on a 20bil forced sell, which precipitated the whole shebang. I noted the SChwab, though, but they are trading now off the lows, only 10% down.
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Lucius
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Crypto Swap Exchange🈺
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March 13, 2023, 05:15:10 PM |
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The thing when Sacks realizes that banks sucks, priceless almost like Bitcoin
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cygan
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Crypto Swap Exchange
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HI-TEC99
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March 13, 2023, 05:17:12 PM |
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The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.
"aLL SaVIngS DepOSiTs ArE SaFU"Only one way to find out: pull yer money out, folks.
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AverageGlabella
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March 13, 2023, 05:24:50 PM |
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How many more banks are going to get bailed out this year? I see that Bitcoin has been increasing ever since the Silicon Valley bank has been bailed out which might be people coming to Bitcoin because they have lost faith in the bank and could cause a bull run before the 2024 halving. It might be the perfect time for banks to fail because it will push more people to Bitcoin and then the halving being a good time to boost the price it might be a good year or 2 for Bitcoin because of the banks failing.
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BobLawblaw
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Neighborhood Shenanigans Dispenser
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March 13, 2023, 05:25:15 PM |
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what this has to do with "crypto" in the first place?
Jeopardy: "A recent Silicon Valley-based bank that was a major player in providing fiat liquidity for the crypto exchanges"
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hisslyness
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March 13, 2023, 05:26:29 PM |
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EDIT: Who is Silicon Valley Bank?
Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank launched on October 17, 1983
For a bank that stated in 1983, you think they would have more of their own funds, after 40 years of business!
I guess this is what happens when you run your business based on debt! Loans (ie deposits) get called in and your fucked!
Maybe a new approached to the entire banking system is needed!...
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Biodom
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what this has to do with "crypto" in the first place?
Jeopardy: "A recent Silicon Valley-based bank that was a major player in providing fiat liquidity for the crypto exchanges" nonsense...SVB and signature had very little exposure to "crypto". The only one that had was Silvergate, which failed quietly. The rest failed because of the mismatch between withdrawals and declined value of holdings. You listen to MSM a bit too much, it seems. They call it this way to place the blame on us, but it does not "stick".
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AverageGlabella
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March 13, 2023, 05:29:56 PM |
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EDIT: Who is Silicon Valley Bank?
Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank launched on October 17, 1983
For a bank that stated in 1983, you think they would have more of their own funds, after 40 years of business!
I guess this is what happens when you run your business based on debt! Loans (ie deposits) get called in and your fucked!
Maybe a new approached to the entire banking system is needed!...
You mean a new system like not trusting banks and being your own bank? I think this system already exists and has been alive for over 10 years. I know you know this and I know that a lot of people know this on WO but I wonder how long it will take fiat users to realize that a alternative already exists and they are using a system that will always fail eventually. Hopefully for us they find out sooner rather then later.
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LoyceV
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Thick-Skinned Gang Leader and Golden Feather 2021
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March 13, 2023, 05:44:39 PM |
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Sidenote: they closed Silicon Valley bank and ALSO the Signature bank, apparently (Silvergate closed last week). So someone really hates banks starting with an S.
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hisslyness
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March 13, 2023, 05:45:21 PM |
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EDIT: Who is Silicon Valley Bank?
Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. The bank launched on October 17, 1983
For a bank that stated in 1983, you think they would have more of their own funds, after 40 years of business!
I guess this is what happens when you run your business based on debt! Loans (ie deposits) get called in and your fucked!
Maybe a new approached to the entire banking system is needed!...
You mean a new system like not trusting banks and being your own bank? I think this system already exists and has been alive for over 10 years. I know you know this and I know that a lot of people know this on WO but I wonder how long it will take fiat users to realize that a alternative already exists and they are using a system that will always fail eventually. Hopefully for us they find out sooner rather then later. Unfortunately, the masses are too entrenched in the status quo, to realise how "the top 1%" and "Big Corporations" are institutionally raping them of their financial freedom.
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