ECON [FINANCE] First Deathburger Thread of the 2023 Banking Crisis. ALL welcome (hall passes at the door). Have At It.

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rondaben

Veteran Member
Things are falling apart.

The only reason to bring charges against trump when the issue has been investigated and the real politicized feds won't even touch it is a distraction.

UBS is going to get the Swiss national bank to backstop them taking over a good portion of credit suisse. UBS would be taking over 1.4 trillion in "assets" and they want to backed by the swiss national bank with ~900 billion in assets? LOL.

I don't think even they believe that this Sh1tshow is anywhere near controlled.
 

Milk-maid

Girls with Guns Member
The only reason to bring charges against trump when the issue has been investigated and the real politicized feds won't even touch it is a distraction.

UBS is going to get the Swiss national bank to backstop them taking over a good portion of credit suisse. UBS would be taking over 1.4 trillion in "assets" and they want to backed by the swiss national bank with ~900 billion in assets? LOL.

I don't think even they believe that this Sh1tshow is anywhere near controlled.

This^^^ hits the nail on the head.

No one will be talking about the failing banks and markets when Trump is arrested.
 

SouthernBreeze

Has No Life - Lives on TB
When people can't get money, can't use charge cards, and grocery stores are closed, I think they'll notice.

Yep. I was thinking the same. When everyone is losing everything, can't get their money, and grocery stores are closing, no credit.......no one will be paying too much attention to what's going on with Trump. There will be chaos and panic.
 
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John Deere Girl

Veteran Member
When people can't get money, can't use charge cards, and grocery stores are closed, I think they'll notice.
Unless social media is down, along with cell phone service, that news will spread quickly. Now is a good time to top off on groceries, because if this happens, it will not be safe to be out in the general public. This would make the stores during the COVID lock down look mild.
 

RememberGoliad

Veteran Member
Unless social media is down, along with cell phone service, that news will spread quickly...

Loss of internet and cell might slow it down some, but not much. When people, even mushroom people, put the two and two together of no plastic and no comms, they're going to seek out someone close by they know to wail and gnash teeth, even if it is primarily about not being able to get on Facefart for the first few minutes.

Oh, it'll spread all right. And it'll be best to not be where it's spreading/spewing when it gets really going. My measurement here is, if we lose the internet and cell phones, plus the landline doesn't give up a dialtone, then we're not going to town. (And yeah, our landline is still, for the moment, twisted pair all the way to town, no VOIP at least locally, so it's somewhat disconnected from the internet.)
 

fi103r

Veteran Member
Things are falling apart.

The only reason to bring charges against trump when the issue has been investigated and the real politicized feds won't even touch it is a distraction.

UBS is going to get the Swiss national bank to backstop them taking over a good portion of credit suisse. UBS would be taking over 1.4 trillion in "assets" and they want to backed by the swiss national bank with ~900 billion in assets? LOL.

I don't think even they believe that this Sh1tshow is anywhere near controlled.
well, It’s going to be contained to all parties to the SWIFT banking clearance so probably contained to planet earth as the Martian colonies use commodity based currencies
r
 

Squid

Veteran Member
Things are falling apart.

The only reason to bring charges against trump when the issue has been investigated and the real politicized feds won't even touch it is a distraction.

UBS is going to get the Swiss national bank to backstop them taking over a good portion of credit suisse. UBS would be taking over 1.4 trillion in "assets" and they want to backed by the swiss national bank with ~900 billion in assets? LOL.

I don't think even they believe that this Sh1tshow is anywhere near controlled.
The idea is not a conviction per se but to create a very very thin ‘reason’ for leftist states to take Trump off their ballots and create in the gubmint leftist media to argue why Trump can’t be President.

Its all a sham. We know, they know it and at this point they are desparate to keep power and keep out of prison for their crimes many likely cross into Treason. So they continue to have very strong reasons to use any and all paths and weapons to maintain power.

I suggest to some their possible crimes are so great that even driving the country into a civil war is a risk they would gladly take.
 

RememberGoliad

Veteran Member
Yep, Squid, you're right. A civil war might be what they want to take the spotlight off themselves. Either that, or some of them are arrogant and too lacking in critical thinking skills to the point that they think they might win. I know, I know, there will be no walk-off winners...but I'm not talking about that. THEY think there will be.
 

TxGal

Day by day
Southernprepper1 has uploaded a new podcast just a little while ago, apparently mid-sized banks are asking the FDIC to guarantee their all of their deposits for 2 years, if I understood it correctly:

Breaking News...Midsize banks are worried about a bank run...Asking FDIC for help​

View: https://www.youtube.com/watch?v=d5foyKYZFs0
Run time is 2:52
 
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Dozdoats

On TB every waking moment
View: https://www.youtube.com/watch?v=EAAE3NqndPw

Entire Financial System Is Bankrupt | Bob Moriarty
RT 34:20

1,663 views Premiered 41 minutes ago
The entire banking system is bankrupt, says Bob Moriarty. "All banks are at risk." Gold spiked on Friday as investors rushed towards real assets. He discusses how the real problem is the one nobody is talking about yet: the derivative bubble. Derivatives have introduced unprecedented counter-party risk into the system. The solution? "You cannot have an honest economy without honest money."
 

TxGal

Day by day
I'm not sure if we're allowed to post from JohnGaltFLA's website Shenandoah, I'll try to check that in just a bit (working a neighborhood issue right now), but - he's posted a huge and disturbing article about the above subject and a meeting with Warren Buffett and major bank executives.

Oh my gosh....
 

TxGal

Day by day
Fair use cited:


FINANCE

Midsize U.S. banks reportedly ask the FDIC to insure all deposits for two years​

PUBLISHED SAT, MAR 18 20235:36 PM EDTUPDATED 40 MIN AGO
Reuters


A coalition of midsize U.S. banks, Mid-Size Bank Coalition of America (MBCA), has asked regulators to extend FDIC insurance to all deposits for the next two years, Bloomberg News reported on Saturday citing an MBCA letter to regulators.

The letter argued that extending insurance will immediately stop the exodus of deposits from smaller banks, which in turn will stabilize the banking sector and restore confidence in banking system, the report said.

The collapse of Silicon Valley Bank, which held a high number of uninsured deposits beyond the FDIC guaranteed limit, prompted customers to move their money to bigger banks and triggered sharp selloff in banking stocks.

According to the Bloomberg report, the group proposed that the expanded insurance program be paid for by the banks themselves by increasing the deposit-insurance assessment on lenders that choose to participate in increased coverage.

The FDIC did not immediately respond to a Reuters request for comment while MBCA could not be immediately contacted.
 

West

Senior
Fair use cited:


FINANCE

Midsize U.S. banks reportedly ask the FDIC to insure all deposits for two years​

PUBLISHED SAT, MAR 18 20235:36 PM EDTUPDATED 40 MIN AGO
Reuters


A coalition of midsize U.S. banks, Mid-Size Bank Coalition of America (MBCA), has asked regulators to extend FDIC insurance to all deposits for the next two years, Bloomberg News reported on Saturday citing an MBCA letter to regulators.

The letter argued that extending insurance will immediately stop the exodus of deposits from smaller banks, which in turn will stabilize the banking sector and restore confidence in banking system, the report said.

The collapse of Silicon Valley Bank, which held a high number of uninsured deposits beyond the FDIC guaranteed limit, prompted customers to move their money to bigger banks and triggered sharp selloff in banking stocks.

According to the Bloomberg report, the group proposed that the expanded insurance program be paid for by the banks themselves by increasing the deposit-insurance assessment on lenders that choose to participate in increased coverage.

The FDIC did not immediately respond to a Reuters request for comment while MBCA could not be immediately contacted.
I'm sure thay can insure from here to hell all and everything. When they have the power of making currency out of really, really thin air!

:D
 

Echo 5

Funniest guy on TB2K
Southernprepper1 has uploaded a new podcast just a little while ago, apparently mid-sized banks are asking the FDIC to guarantee their all of their deposits for 2 years, if I understood it correctly:

Breaking News...Midsize banks are worried about a bank run...Asking FDIC for help​

View: https://www.youtube.com/watch?v=d5foyKYZFs0
Run time is 2:52
If true, what they're asking for is impossible.
 

John Deere Girl

Veteran Member
I'm not sure if we're allowed to post from JohnGaltFLA's website Shenandoah, I'll try to check that in just a bit (working a neighborhood issue right now), but - he's posted a huge and disturbing article about the above subject and a meeting with Warren Buffett and major bank executives.

Oh my gosh....
I just read that. The bank in Fort Wayne, Indiana that was connected to the Warren Buffet meeting was most likely PNC.
 

TxGal

Day by day

BANKING

Published March 18, 2023 9:14pm EDT

Study finds 186 banks vulnerable to SVB-like collapse

The study created a scenario where half of 186 banks' depositors withdrew their funds

By Andrea Vacchiano FOXBusiness


A new study says that, depending on certain market conditions, nearly 200 U.S. banks could be vulnerable to the same fate as Silicon Valley Bank (SVB).

A recent Social Science Research Network study suggests that 186 American banks could fail if half of their depositors suddenly withdrew their funds. The researchers formulated a speculative scenario in which each bank experienced a run, and concluded that the FDIC would run out of money.

The study was published shortly after the collapse of SVB, the worst American financial institution failure since 2008.

"Our calculations suggest these banks are certainly at a potential risk of a run, absent other government intervention or recapitalization," the economists wrote.

"Even if only half of uninsured depositors decide to withdraw, almost 190 banks are at a potential risk of impairment to insured depositors, with potentially $300 billion of insured deposits at risk," the study's abstract reads. "If uninsured deposit withdrawals cause even small fire sales, substantially more banks are at risk."

The issue lies in the fact that the studied banks' assets are in government bonds and mortgage backed securities, which were negatively affected by the Federal Reserve's recent interest rate hikes.

Many of SVB's assets were long-term government bonds. Despite being a sound long-term investment, they were not worth as much as when SVB originally bought them. SVB invested too heavily in longer-term mortgage securities with more than 10 years to maturity.

SVB sold those bonds at a staggering $1.8 billion loss to meet customer withdrawals. When SVB disclosed that loss, depositors panicked and withdrew their money.

"Overall, these calculations suggest that recent declines in bank asset values very significantly increased the fragility of the US banking system to uninsured depositor runs." the study's abstract concludes.

FOX Business has reached out to FDIC for comment, but has not received a statement.

 

TxGal

Day by day

Biden In Touch With Buffett On Bank Crisis​

BY TYLER DURDEN
SATURDAY, MAR 18, 2023 - 08:00 PM

What do you call it when an 80-year-old seeks the advice of a 92-year-old?

Answer: the worst financial crisis since Lehman.TM

Realizing that Berkshire Hathaway had a near-record $128 billion in cash at the start of the year, more than most countries...




... Joe Biden, who on Monday lied to the American people that the "our banking system is safe"...

View: https://twitter.com/JoeBiden/status/1635418065960685568
Run time is 0:06

... appears to have changed his mind and is urgently hoping to recreate the zeitgeist surrounding the infamous Oct 16 "Buy American" NYT op-ed by Warren Buffett.



... which ended up being memorable but only after the biggest bailout of US banks and capital markets in history and the start of the neverending QR/ZIRP->bust->QE/ZIRP cycle.

According to Bloomberg, Berkshire’s Warren Buffett has been in touch with senior officials in President Joe Biden’s administration in recent days as the regional banking crisis goes from bad to worse to Savings And Loan 2.0 (if only America had any savings left).

The buzz of private jet activity centering on Omaha was first reported by Fuzzy Panda who noted that "a large number (>20) of Private Jets landed in Omaha yesterday afternoon" with jets flying from HQs of Regional Banks, Ski Resorts & DC, and prompting the question "Did Buffett just fly all the regional bank CEOs into Omaha & offer a deal to SAVE the banks?"

View: https://twitter.com/FuzzyPandaShort/status/1636786948949016576

For now the answer is unclear, nor is it clear what role, if any, the billionaire investor may play to contain the crisis after the cascading failures of Silicon Valley Bank, Signature Bank and Silvergate.

Buffett, who will be 100 years old in 2031, has a long history of stepping in to aid banks in crisis, providing funding at daylight robbery terms (10% prefs + warrants), and leveraging his cult investing status to restore confidence in ailing firms. Bank of America won a capital injection from Buffett in 2011 after its stock plunged amid losses tied to subprime mortgages. Buffett also tossed a $5 billion lifeline to Goldman in 2008 to shore up the bank following the Lehman Brothers collapse.

Meanwhile, Biden’s team, wary of political blowback among progressives, has sought to implement bailouts that are spun as magically not being bailouts and which don’t require direct government spending from taxpayers, including the Federal Reserve’s actions (narrator: of course they require taxpayer backing). Alas, so far Biden's plan has been a disaster: on Thursday, big US banks voluntarily deposited $30 billion to stabilize First Republic Bank this week, a move regulators described as “most welcome.” On Friday, the stock collapsed another 50%.

Any investment or intervention from Buffett or other figures would continue that playbook, looking to stem the crisis without direct bailouts.... until of course direct bailouts, rate cuts and QE are inevitable since a cascading wave of defaults among the regional banks would lead to another great depression as small/medium banks account for 50% of US commercial and industrial lending, 60% of residential real estate lending, 80% of commercial real estate lending, and 45% of consumer lending.

View: https://twitter.com/zerohedge/status/1637088001489551360

But before we get there, and since we are now following the playbook of the 2008 crisis, expect the SEC to "halt short selling of financial stocks to protect investors and markets", just like it did 3 days after Lehman collapse sparking the worst banking crisis... until now.
 

Terrwyn

Veteran Member
Bear with me I haven't slept much but I was wondering if you withdraw most or some of your cash and then the whole system crashes and then there is a great depression will that cash be any good? Doesn't seem to me like it will. No more SS, no more welfare and no more US and end game for all but the toughest.
 

Terrwyn

Veteran Member
Researching banks sucks. A while back my small local bank was acquired by Flagstar Bank. Ok so I got curious about Flagstar and found out they are taken over by New York Bank Corp which is on some list I saw of vulnerable banks. That kind of surprised me as I thought Flagstar was THE owner.
I agree with the advice to have more than one bank but I'm beginning to wonder if even that will do us any good.
 

WalknTrot

Veteran Member
FINANCE

Midsize U.S. banks reportedly ask the FDIC to insure all deposits for two years​

Just like Thelma and Louise - pedal to the metal over the cliff.
There ain't that kind of cover-money anywhere, and this will just make the banks and their investment decisions even MORE irresponsible with depositor's $$.

If anybody has more than $250,000 in a single bank/account, they ain't very bright.
Anytime - but especially now.
 

Sacajawea

Has No Life - Lives on TB
Just like Thelma and Louise - pedal to the metal over the cliff.
There ain't that kind of cover-money anywhere, and this will just make the banks and their investment decisions even MORE irresponsible with depositor's $$.

If anybody has more than $250,000 in a single bank/account, they ain't very bright.
Anytime - but especially now.

Except, that for some business owners - it'll be necessary to write more than the FDIC limit for the April 15, fedgov tithe.
 
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