Silicon Valley Bank Collapses

[Caroline13]

Is this a start?

https://www.theepochtimes.com/silico...&utm_content=1

[Caroline13]

Here is what a member on a pretty active forum I'm a member on, has said about the "money crisis"...Any Truth??????

Hope everyone has some kind of cash/silver/gold on hand. The incompetent aholes who caused the SVB bank failure are creating media panic and bank runs are predicted on other banks come monday am.

Some ATM's are already out of money, but worth a try if you need cash on hand for the next few weeks until this calms down. Also paying with credit/debit cards for everything you can and repay all credit cards from your bank account right away. Cuz if there is a big enough run, the bank will restrict how much cash you can withdraw.

Seems to me this ties in ever so nicely to the push to digital currency. Not that I am a financial genius or anything.............

Rainbow

[Caroline13]

So many are on their "edge" right now and have nothing, and then there is the fear Mongering aspect of it all.

[GentlemanJim]

Looks like that big wadd I've been keeping on hand might end up being useful?

[Babalu]

Originally Posted by GentlemanJim

Looks like that big wadd I've been keeping on hand might end up being useful?

No, still not a good idea. And I have quite a bit in one of those banks affected but under the FDIC limit.

[GentlemanJim]

Originally Posted by Caroline13

Is this a start?

]

Seems to be considerable interest in whether other banks are staged to follow. Suspicious that Biden did not take any questions after Monday morning's "pep talk"

Question: I'm no banker, but stories report there to be various "pools" in the safety net that will be used to cover depositor's funds above and beyond the FDIC $250,000 level.

If they do this, and additional banks fail, isn't there a risk that the pools might be depleted from covering this extra (above $250K) loss?

Seems like the water could get mighty rough.

[Caroline13]

Originally Posted by GentlemanJim

Seems to be considerable interest in whether other banks are staged to follow. Suspicious that Biden did not take any questions after Monday morning's "pep talk"

Question: I'm no banker, but stories report there to be various "pools" in the safety net that will be used to cover depositor's funds above and beyond the FDIC $250,000 level.

If they do this, and additional banks fail, isn't there a risk that the pools might be depleted from covering this extra (above $250K) loss?

Seems like the water could get mighty rough.

Well the Media Keeps Constant fear out there in Everything in our Lives...

[GentlemanJim]

This thread would not even exist except for the media presenting a story you believed to be worthy of comment?

[Babalu]

Originally Posted by GentlemanJim

Seems to be considerable interest in whether other banks are staged to follow. Suspicious that Biden did not take any questions after Monday morning's "pep talk"

Of course he couldn't. He doesn't know the first thing about it. And even if he did at one time, he's now senile.

What he "read" today was a disgrace, but of course the media will lap it up. Biden's administration's policies cause this, yet he "took credit" for "saving us". All his insane spending, giving people free money for not working, cause the inflation that has been with all of us for the past year. Then, finally the Fed started raising interest rates quickly. That's what killed the banks. They have to pay out higher interest, yet the government bonds they own are now worth less and less because of the interest rate hikes, causing their own insolvency.

[Caroline13]

I just heard a segment on my local conservative station, and bottom line is: Have Your Money in a large bank and not a community type as I understand the Silicon valley bank is....

They do not have the concrete answers but I go with what they believe.

This is way over my head and I'm not panicking about what we are hearing from so much of media.. j

[Caroline13]

Originally Posted by Babalu

Of course he couldn't. He doesn't know the first thing about it. And even if he did at one time, he's now senile.

What he "read" today was a disgrace, but of course the media will lap it up. Biden's administration's policies cause this, yet he "took credit" for "saving us". All his insane spending, giving people free money for not working, cause the inflation that has been with all of us for the past year. Then, finally the Fed started raising interest rates quickly. That's what killed the banks. They have to pay out higher interest, yet the government bonds they own are now worth less and less because of the interest rate hikes, causing their own insolvency.

It's becoming more clear that our 44th president is still in charge. You know that Kenya born president.