Credit Crunch 2.0 about to start?
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Credit Crunch 2.0 about to start?
America’s Silicon Valley Bank has gone bust they had USD $209 Billion in total assets at the end of 2022,the bank which was the 16th largest bank in the U.S, failed after a 60 percent drop in shares due to declining customer deposits,forcing SVB to sell off $1.75 billion in shares.
Greg Becker the chief executive of SVB Financial Group sent a video message to employees of the bank acknowledging the 'incredibly difficult' 48 hours leading up to its collapse on Friday.
With depressing predictability on Friday it was revealed how Becker sold $3.57m of stock in a pre-planned, automated sell-off two weeks before the bank's collapse - and the CFO Daniel Beck sold 2,000 shares at $287.59 per share on the same day as his boss, ditching $575,000.
Becker offloaded 12,451 shares at an average price of $287.42 each on February 27. The price plunged to just $39.49 in premarket Friday before the Federal Deposit Insurance Corporation (FDIC) seized the bank's assets.
Laughably there is no suggestion of any impropriety by either Becker or Beck apparently?
Billionaire hedge fund manager Bill Ackman is forecasting 'economic meltdown' within hours of the banks opening up on Monday morning following the failure of Silicon Valley Bank.
Ackman is urging for the U.S. government to finally step in and protect all of the bank's depositors, warning inaction could lead to a ripple effect across other smaller banks within the industry.
The worry is that customers will rush to withdraw cash from their accounts fearing instability across the banking system with the very real possibility of a domino effect.
Ackman is urging the government to take action and fix a 'a-soon-to-be-irreversible mistake' by Monday morning, to prevent such a bleak scenario from occurring.
Source ;
https://www.dailymail.co.uk/news/articl ... -lost.html
Greg Becker the chief executive of SVB Financial Group sent a video message to employees of the bank acknowledging the 'incredibly difficult' 48 hours leading up to its collapse on Friday.
With depressing predictability on Friday it was revealed how Becker sold $3.57m of stock in a pre-planned, automated sell-off two weeks before the bank's collapse - and the CFO Daniel Beck sold 2,000 shares at $287.59 per share on the same day as his boss, ditching $575,000.
Becker offloaded 12,451 shares at an average price of $287.42 each on February 27. The price plunged to just $39.49 in premarket Friday before the Federal Deposit Insurance Corporation (FDIC) seized the bank's assets.
Laughably there is no suggestion of any impropriety by either Becker or Beck apparently?
Billionaire hedge fund manager Bill Ackman is forecasting 'economic meltdown' within hours of the banks opening up on Monday morning following the failure of Silicon Valley Bank.
Ackman is urging for the U.S. government to finally step in and protect all of the bank's depositors, warning inaction could lead to a ripple effect across other smaller banks within the industry.
The worry is that customers will rush to withdraw cash from their accounts fearing instability across the banking system with the very real possibility of a domino effect.
Ackman is urging the government to take action and fix a 'a-soon-to-be-irreversible mistake' by Monday morning, to prevent such a bleak scenario from occurring.
Source ;
https://www.dailymail.co.uk/news/articl ... -lost.html
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday
https://www.businessinsider.com/hundred ... svb-2023-3
https://www.businessinsider.com/hundred ... svb-2023-3
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And your point is it’s all over the global financials?
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
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Investors implore the government to step in after Silicon Valley Bank failure :
https://www.cnbc.com/2023/03/11/silicon ... t-aid.html
Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis :
https://www.cnbc.com/2023/03/10/silicon ... osits.html
https://www.cnbc.com/2023/03/11/silicon ... t-aid.html
Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis :
https://www.cnbc.com/2023/03/10/silicon ... osits.html
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
My point is that paper is the gutter press and if you want a proper article read any other paper, the FT for example.Phnom Penh Trader wrote: ↑Sun Mar 12, 2023 10:10 pmAnd your point is it’s all over the global financials?
DM headlines today. Tom Cruise and Will Smith won't be at the Oscars, Love Island is still full of narcissistic nut jobs and Mel Gibson has come out as gay.
Anyhoo, the Fed say that no savers will lose money (I guess they are paying) and the government said there is no bailout.
Sorry doomongers, the "big reset" is not happening yet!
pew, pew, pew, pew!
Another one.
https://seekingalpha.com/article/458687 ... 08-deja-vuAfter a chaotic weekend, federal banking regulators decided to close New York-based Signature Bank (NASDAQ:SBNY) before Monday, citing systemic risk.
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Just reading that they ( the fed?) reckon
the public won't be picking up the bill this time. How do they work that one out? I call bullshit. They are just covering so as to protect their (1%s) investments
“Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” they said in a statement
the public won't be picking up the bill this time. How do they work that one out? I call bullshit. They are just covering so as to protect their (1%s) investments
“Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” they said in a statement
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SVB has received help from the Biden admin prior to markets opening to stave off a run on banks and facilitate any sale. SVB and any bank that fails should become property of the taxpayers after they are bailed out. Privatizing profit while placing the burden of corporate debt on the average citizen needs to end. When the average person incurs debt when in financial crisis the rate of interest charged is steep whilst corporations borrow money at par(versus asset value) when in trouble, This is an industry that is wholly incapable of self regulation. SVB execs led the charge to roll back Dodd-Frank banking regs for banks with under $250 Billion in deposits during the Trump era then took the bank under while profiting during its collapse.Alexandra wrote: ↑Sun Mar 12, 2023 10:05 pmHundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday
https://www.businessinsider.com/hundred ... svb-2023-3
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Freedom is not a state. It is an act. It is not some enchanted garden perched high on a distant plateau.. Freedom is a continuous action we all must take, and each generation must do its part to create an even more fair, more just society.-John Lewis
The Fed stepping in doesn’t solve the underlying problem - that banks have oversold securities they don’t have. It just kicks the bucket further, and 2008 never ended.
This isn’t a problem with one single bank. It’s a banking industry problem.
This isn’t a problem with one single bank. It’s a banking industry problem.
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It’s an AMERICAN banking industry problem like last time when they sold Collateralised Debt Obligations/CDOs to the rest of the world they are basically a lump of turd packaged in a fancy box!
Bad debt from mortgage lenders to an asset class called NINJAs/No Income No Job or Assets became poorly structured,high-risk packages of loan securities known as Collateralised Debt Obligations/CDOs and received AAA ratings from credit rating agencies implying a degree of safety they in no way deserved.
Oh then the very same American investment banks bet against the CDOs/Collateralised Debt Obligations which they knew would fail using CDOs/Credit Default Swaps and the rest as they say is history!
Bad debt from mortgage lenders to an asset class called NINJAs/No Income No Job or Assets became poorly structured,high-risk packages of loan securities known as Collateralised Debt Obligations/CDOs and received AAA ratings from credit rating agencies implying a degree of safety they in no way deserved.
Oh then the very same American investment banks bet against the CDOs/Collateralised Debt Obligations which they knew would fail using CDOs/Credit Default Swaps and the rest as they say is history!
There are three classes of people: those who see, those who see when they are shown, those who do not see. ~ Leonardo da Vinci
No Idea why they wound up signature.
They were profitable. They had exposure to crypto but reversed their policy a few months ago and were upbeats about 2023, they had even initiated a share buyback program
They were profitable. They had exposure to crypto but reversed their policy a few months ago and were upbeats about 2023, they had even initiated a share buyback program
They’re over exposed. Every single one of them.
First Republic Bank is free falling. Currently -54.20% in pre market.
Almost 2 years ago I wrote: “Everything indicates that we are heading towards a market crash and hyperinflation. It's bad.”
It’s starting.
First Republic Bank is free falling. Currently -54.20% in pre market.
Almost 2 years ago I wrote: “Everything indicates that we are heading towards a market crash and hyperinflation. It's bad.”
It’s starting.
Alexandra wrote: ↑Fri Dec 09, 2022 6:06 pmBrokers aren’t even selling stocks. They sell CFDs and IOUs and bet against the small guy. It’s a huge Ponzi scheme. They’re not even hiding it. The fact that FTDs even exist and that settlement is delayed differently for different actors is fucked up.
Gary Gensler himself said in a Bloomberg interview that 90-95% of retail trades don’t hit the lit market. Price discovery is nonexistent.
It’s all bullshit.
Alexandra wrote: ↑Mon May 24, 2021 2:50 pm
Is Bitcoin affecting the market or is the market affecting Bitcoin? I personally do not think it is Bitcoin that is crashing the market. I think that it is the market crashing that is also reflected on Bitcoin.
In this post I'll focus much on one particular date: May 19. I believe that is when we started to really see the signs of an eminent crash that I hinted about earlier in this thread but was disregarded for being wrong on a date prediction.
On May 19 the SEC approved SR-ICC-2021-007 which tightens up what can be used as collateral, reducing overall capital. Meaning that institutions can no longer say that they hold billions of dollars of useless things like Dogecoin and Bitcoin to use as collateral for their margin accounts. Pumping shit coins is no longer effective to meet collateral deposit requirements.
Institutions can no longer say "look I'm a Dogecollieionaire!" The ICC would be like "WTF? Show us the money!"
Meanwhile, margin debt is at an all time high:
History shows that spikes in margin debt are immediately followed by sudden flash crashes of the market. The last time that happened was during the 2008 housing crisis when margin debt reached $150B. This time we're looking at $350B until March, and since then probably closer to $400B. If the market responds similar to how it has in the past we're probably looking at hitting -$450B.
On May 21 reverse repos reached $369B with 52 participants. On May 6 it was at $155B. Notice the spike occurred on or around my favorite day in this post: May 19. Source: Federal Reserve Bank of New York
Back to crypto!
On May 19 there was a huge spike in volume for Bitcoin from large selloffs from 8:50 AM EST until around 9:10 AM.
What's going on here? Did Elon tweet an emoji? Did a Chinese village have a power outage? Did Biden vomit a gov't coin proposal on the economy?
2 days earlier on May 17 the OCC issued a statement requiring clearing members to deposit $588,378,155 by May 19, 9 AM EST. This was after a liquidity test earlier that did not go so well.
But wait a minute, Bitcoin crashed at 9 AM EST on 19 May, when OCC members had to increase the clearing fund size. Institutions dumped crypto because they needed cash.
Everything indicates that we are heading towards a market crash and hyperinflation. It's bad.
The idea that Bitcoin is decentralized and so on is great, but it is heavily manipulated and is in no way immune to the shockwaves that the rest of the market is sending on its way down. Crypto has been pumped by institutions and propagandized by naive evangelists who believe that they are Tyler Durden behind a computer screen and a super fast expensive computer used to lose a lot of money at high pace trading crypto on margin.
There are some easily searchable, good posts online about how Bitcoin is being manipulated following the Wyckoff method. We are currently in the dump phase, although FOMO type "buy the dip" investors are slowing it down. They'll get burned later.
Compare with February-May:
Ironic post is ironic.Phnom Penh Trader wrote: ↑Mon Mar 13, 2023 2:52 pmYou’re just embarrassing yourself here now mate how old are you 12?YaTingPom wrote: ↑Mon Mar 13, 2023 2:14 pmYes, your mum only last night, actually.Phnom Penh Trader wrote: ↑Mon Mar 13, 2023 2:07 pmHas anyone ever told you how boring you are?YaTingPom wrote: ↑Mon Mar 13, 2023 7:23 amMy point is that paper is the gutter press and if you want a proper article read any other paper, the FT for example.Phnom Penh Trader wrote: ↑Sun Mar 12, 2023 10:10 pmAnd your point is it’s all over the global financials?
DM headlines today. Tom Cruise and Will Smith won't be at the Oscars, Love Island is still full of narcissistic nut jobs and Mel Gibson has come out as gay.
Anyhoo, the Fed say that no savers will lose money (I guess they are paying) and the government said there is no bailout.
Sorry doomongers, the "big reset" is not happening yet!
pew, pew, pew, pew!
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