• Watch Out for Scammers!

    We've now added a color code for all accounts. Orange accounts are new members, Blue are full members, and Green are Supporters. If you get a message about a sale from an orange account, make sure you pay attention before sending any money!

Silicon Valley Bank Shares Halted After Plunge Deepens UPDATE: The Silicon Valley Bank has been shut down by regulators

Franko said:
Our entire political system is designed to do this. The Federal reserve provides unlimited money to the government which then spends it to make politicians and the rich even richer. There is no reason for anyone inside the system to fix the problem and anyone outside the system (the rest of us) who gets uppity goes to jail or is killed. This charade will go on until the whole house of cards collapses and then a new batch of bastards will take over and the cycle will restart.

The worst part of this whole problem is we all can see it happening but are powerless to do anything about it.
Click to expand...
Humans are amazingly gifted at repeating mistakes verbatim as history warns. The Dutch and British have been there.....we will too one day.
 
  • Like
Reactions: Hobo Hilton and Franko
"Thick as Thieves"
4f01bfeed795b12dd84f969cf9ee60c4.jpg


A group of financial institutions are in talks to deposit $30 billion in First Republic
in what’s meant to be a sign of confidence in the banking system, sources told CNBC’s David Faber.
The deal is not done yet, the sources said, and the amounts were a moving target. The plan does not call for an acquisition of First Republic.
www.cnbc.com

Wall Street rides to the rescue as 11 banks pledge First Republic $30 billion in deposits

The news comes after First Republic's stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank and Signature Bank.
www.cnbc.com www.cnbc.com
 
  • Like
Reactions: devildog93
Cardboard55 said:
www.dailymail.co.uk

First Republic Bank execs sold $12M in stock before SVB crash

First Republic Bank executives sold nearly $12 million worth of its stock in just the past three months at prices averaging just below $130 a share.
www.dailymail.co.uk www.dailymail.co.uk
Click to expand...
I bought First Republic yesterday b/c I think it's totally overblown hyper reaction. Half of the assets on it's balance sheet are mortgages with LTV of 60% and really good average of 750 credit scores. I don't risk more than 2% on any ticker, but I'm ok with the risk here. Time will tell the story, but their deposit base isn't stupidly constructed like SIVB which was ripe to get knocked over. I'm waiting and wondering if the Theil/Ackman shorted SIVB b/f they blew the whistle.
 
Franko said:
Our entire political system is designed to do this. The Federal reserve provides unlimited money to the government which then spends it to make politicians and the rich even richer. There is no reason for anyone inside the system to fix the problem and anyone outside the system (the rest of us) who gets uppity goes to jail or is killed. This charade will go on until the whole house of cards collapses and then a new batch of bastards will take over and the cycle will restart.

The worst part of this whole problem is we all can see it happening but are powerless to do anything about it.
Click to expand...
Well, you aren’t powerless but there isn’t enough sheeple ready to do anything about it. The fact AOC went from barely making it bartending to being worth over $29mil in a few short years working for the people should tell you all you ever need to know! Or is she? Might be BS, might not!
 
Last edited:
  • Like
Reactions: forrestgump01
atepointer said:
I bought First Republic yesterday b/c I think it's totally overblown hyper reaction. Half of the assets on it's balance sheet are mortgages with LTV of 60% and really good average of 750 credit scores. I don't risk more than 2% on any ticker, but I'm ok with the risk here. Time will tell the story, but their deposit base isn't stupidly constructed like SIVB which was ripe to get knocked over. I'm waiting and wondering if the Theil/Ackman shorted SIVB b/f they blew the whistle.
Click to expand...
I'm sure the members of Congress were short also... Ukraine was in also. "We the People" were the last to know... You know, being Sunday and all.
 
brianf said:
1000%

the repubs (non democrat by party name only) stood there and watched the train roll by and are now pointing fingers
Click to expand...
That's what Republicans love to do. Right now is their preferred position of being in charge of nothing, doing the peacock 🦚 dance to show how tought they are, then blame the other side when things [continue to] go awry.

Same with democrats.

We're fucked, and the UniParty will ensure that.
 
  • Like
Reactions: Doc68, kmckinnon, camocorvette and 3 others
clcustom1911 said:
That's what Republicans love to do. Right now is their preferred position of being in charge of nothing, doing the peacock 🦚 dance to show how tought they are, then blame the other side when things [continue to] go awry.

Same with democrats.

We're fucked, and the UniParty will ensure that.
Click to expand...


DESANTIS!!! He's going to fix it!!
 
  • Haha
Reactions: Doc68, Rthur, ewoaf and 1 other person
  • Like
Reactions: devildog93
Franko said:
Our entire political system is designed to do this. The Federal reserve provides unlimited money to the government which then spends it to make politicians and the rich even richer. There is no reason for anyone inside the system to fix the problem and anyone outside the system (the rest of us) who gets uppity goes to jail or is killed. This charade will go on until the whole house of cards collapses and then a new batch of bastards will take over and the cycle will restart.

The worst part of this whole problem is we all can see it happening but are powerless to do anything about it.
Click to expand...
Are you saying that laws set forth by the ruling class aren’t for our safety and that the men dressed in blue don’t serve and protect us? Who would have thought.

What I can’t understand is that everyone believes politicians are trash yet the people willing to work for these parasites are somehow seen as decent and given the benefit of the doubt. Interesting.
 
Last edited:
  • Like
Reactions: HD1911, gigamortis, ewoaf and 1 other person
Hobo Hilton said:
Yep... And those crystal balls can't even see as far as Monday morning opening.
It's those week end meetings, you know.
Click to expand...
I can't fathom the stress of being a trader trying to read headlines minute to minute. Having said that they are wired for that and having a blast b/c this is when the most money is made.
 
Don't shoot the messenger. I'm just posting the video as it offers a different perspective.

 
The Biden administration has insisted that the actions FDIC regulators took to protect customers amid Silicon Valley Bank’s historic implosion will come at "no cost" to taxpayers, but an economics expert tells Fox Business that’s not the case.

www.foxbusiness.com

Biden's claim that Silicon Valley Bank bailout wouldn't cost taxpayers contradicts fiscal reality: economist

The Biden administration has insisted taxpayers will not be on the hook for the recent bailout of SVB, but a Heritage economist says that "doesn't pass the smell test."
www.foxbusiness.com www.foxbusiness.com
 
  • Like
Reactions: gigamortis
  • Like
Reactions: mosin46, gigamortis, camocorvette and 1 other person
FED offers zero interest loans with only toxic securities at Par value for collateral? Why not.
Didn't they say they were limiting that to $35B?
Where did the rest come from?
 
  • Sad
Reactions: Hobo Hilton
Sounding like the ripple effect is stretching farther than the banking industry. Seems there is a lot of inventory verification going on.
______________________
The London Metal Exchange has discovered bags of stones instead of the nickel that underpinned a handful of its contracts at a warehouse in Rotterdam, in a revelation that will deliver another blow to confidence in the embattled exchange.

www.mining.com

LME rocked by new nickel scandal after finding bags of stones

The LME has discovered bags of stones instead of the nickel that underpinned a small handful of its contracts at a warehouse in Rotterdam.
www.mining.com www.mining.com
 
  • Wow
Reactions: clcustom1911 and gigamortis
And again we see banking regulators in government are never held to account for their failings in this disaster.

Also, I truly cannot understand why the all-knowing Fed has decided that ratcheting up rates at the pace they have been, is a good thing.
 
Kein Mitleid said:
And again we see banking regulators in government are never held to account for their failings in this disaster.

Also, I truly cannot understand why the all-knowing Fed has decided that ratcheting up rates at the pace they have been, is a good thing.
Click to expand...
Comparing Banks failing and interest rate increases are like comparing apples to oranges.
A basic question "Who is suffering and why" ?
I'm going to pull a number our of thin air. 90% of Americans have nothing to lose when mega banks fail.
On the other hand 90% of Americans are being squeezed by inflation (groceries, taxes, insurance, auto repairs, etc)
Raising interest rates will bring down inflation (Paul Volcker)
Bailing out mega banks is eventually going to be placed on the backs of American's.
 
  • Like
Reactions: gigamortis and Pbgt
No idea what's going to happen but some of the tweets and replies are fascinating





(the whole chatgpt.thing is interesting, gotta wonder if some AI whiz is working the financial system)
 
Harvard Prof., Fmr. IMF Economist Rogoff: San Fran Fed Didn’t Know About SVB’s Problems, But Likely Knew ‘Their Carbon Footprint’
https://www.breitbart.com/clips/202...blems-but-likely-knew-their-carbon-footprint/


This is why our whole economy is collapsing. Because they know how many lesbian eskimos they have working as tellers… and are busy counting the carbon footprint of the microwave in the employee break rooms… but have no fucking idea how to run a business or a bank.

Sirhr
 
  • Like
Reactions: gigamortis, Lightning8, Kein Mitleid and 4 others
  • Like
Reactions: softcock
Hobo Hilton said:
2 hours ago — Silvergate Capital Corp. said that President Ben Reynolds was laid off in connection with decision to wind down operations at its subsidiary ...
www.cnbc.com

Crypto-focused bank Silvergate is shutting operations and liquidating after market meltdown

Silvergate Capital said on Wednesday that it will wind down operations and liquidate its bank, which served the crypto industry.
www.cnbc.com www.cnbc.com
Click to expand...
Underwriting loans with fake money to finance purchases of a fake currency for fake gains to be usedas collateral for more fake money loans..... what could possibly go wrong?

This sounds awfully familiar with some shit that happened about......almost 100 years ago......

I'm no financial historical expert, tho 🙃
 
  • Like
Reactions: SilentStalkr
You must log in or register to reply here.
Top Bottom
Back