Silicon Valley Bank collapsed today — the second largest bank failure in U.S. history. Regulators shut it down because the FDIC has to cover up to $250,000, per depositor, per bank, for each account ownership category.
Credit Suisse was likely first domino. It was reported that customers withdrew $120 billion last month alone.
As we’ve said, if one bank pulls its loans, then others can’t pay their loans, and they all fall down.
Don’t know if it’s true, but it’s been rumored Bank of America, Wells Fargo, and JP Morgan Chase are insolvent and in bankruptcy proceedings. This, in spite of the fact that they, along with Citigroup Inc, managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates boosted income from loans. Here
More recently, however, JP Morgan Chase was caught trying to poach customers from SVB before it closed, Bank of America received the “best to be avoided” award from advisors in the stock market, and Wells Fargo is reporting “missing deposits” due to a “technical issue.”
Trumps words keep echoing in my head: “It had to be this way. Nothing can stop it.”
Gail, truly perilous times we are living in.
I wouldn’t be surprised however if this was engineered by the White Hats to prevent further American involvement in the Ukraine. Especially now that all “real ‘Murricans” have been brainwashed into believing the cult of St Zelensky.
You know whats been funny to me? Babylon Bee has actually been consistently critical of our involvement over there. Ive wondered how its gone over with mainstream readers but I guess people dont generally read the satire there to be coddled.
Ca. $170B in uninsured deposits (yes that’s billions with a “b”). So next comes the push for a bailout. More spending. Given we already are seeing stagflation . . . and this is just one bank. The dynamic apparently revolves around T-bonds and mortgages affected by interest rate hikes attempting to fend off inflation. Inflation caused by spending . . .
Could be problematic.
One wonders just how bad it can get under Biden.
Nowhere in the Constitution does it carve out a spot for secretive bureaucracies that never have to answer to the public.
“By the clever and continuous use of propaganda, a people can even be made to mistake heaven for hell, and vice versa.” -Hitler-
Warning for the citizens:
https://youtu.be/SkintBiv1G0
It’s Deja View all uber again: https://en.wikipedia.org/wiki/Franklin_National_Bank#:~:text=Franklin%20National%20Bank%2C%20based%20in,irregular%20freemasonic%20lodge%2C%20Propaganda%20Due.
THen see https://www.google.com/books/edition/The_Entity/MiAnjHPwdfIC?hl=en&gbpv=1&dq=frattini+entity+niarchos+junta&pg=PA304&printsec=frontcover
Jeremy, thank you for posting these!
$170 billion. An interesting number. How much has been poured into Ukraine if pre-war shenanigans and other ‘off the books’ amounts are included in the total?
The latest from Andrei Martyanov (who quotes the “pro-Russian [not!] The Daily Mail):
“These things are so beyond the experiences of Western decision makers, be them civilian or military, that it is impossible to explain it to them–they simply have no intellectual faculty and education for grasping this. Which brings us to this, now notorious, Daily Mail piece when discovering:
‘As British supermarkets ration eggs and an array of fruit and vegetables amid shortages provoked in large part by the Ukraine war, no such hardships afflict Vladimir Putin’s citizens. The pictures were taken at a food hall, two superstores and a corner shop in Perm, a city with a population the size of Birmingham in the Ural mountains, a 24-hour drive from Moscow. The images suggest the West’s much-vaunted sanctions on Russia, imposed to punish President Putin for his invasion, are not having a deep bite. What’s more, the scenes are a reversal of 40 years ago, when many of us watched pitiful TV footage of Russians under the Communist regime queuing for staples such as bread and eggs. Now it’s Britain’s turn to suffer. Supermarkets here are rationing tomatoes, cucumbers, peppers and lettuces as UK farmers struggle with higher energy costs which stop them using hothouses in winter to grow them. Soft fruit, including raspberries, are also hard to find in the shops.’
“Again, I repeat, you cannot explain why and how it works to an average Western “master of discourse”–many of them still believe that their post-WW II economic recovery was some kind a miracle of American benevolence and financial trickstery of Bretton Woods. It was way more complex than that, and if not for the events on the Eastern Front in 1941-44 even Bretton Woods System wouldn’t have been possible–now try to explain this to Blinken or BoJo with Sunak.”
George Webb joins Peter Duke to discuss his hypothesis about Silicon Valley Bank and other intrigues. His hypothesis includes the rest of the story on Jordan Walker and the Vaccine.
https://rumble.com/v2d5c6y-princess-of-the-yuan.html
Princess of the Yuan
The Duke Report
SVB Donated $73.4 Million To BLM And Related Entities
https://www.zerohedge.com/political/svb-donated-734-million-blm-and-related-entities
Now in addition to the three American banks, there is First Republic ($30B injection from 11 other banks) that seems to have failed as well as Credit Suisse ($54B injection from Swiss Central Bank) in Europe. Saudis looked at CS and refused to bail it out since it would subject them to additional regulations.
The plot thickens.
For those looking for a decent background explainer of the SVB collapse, unsurprisingly Matt Levine has a good rundown:
https://www.bloomberg.com/opinion/articles/2023-03-13/svb-couldn-t-ignore-its-losses-but-the-fed-can
(somebody apparently archived a paywall bypass at this link) https://archive.ph/CqpVU
If you want a bit deeper dive, this is detailed while still being accessible:
https://www.bitsaboutmoney.com/archive/banking-in-very-uncertain-times
If you were wondering, did SVB actually throw sacks of cash at BLM, the answer of course is no. A takedown of that whole narrative can be found here:
https://popular.info/p/silicon-valley-bank-donated-zero
Wise words from Victor Davis Hanson: Nowhere is it foreordained that America has a birthright to remain the world’s preeminent civilization.
“An ascendant China seems eerily similar to the Ottomans. Beijing believes that the United States is decadent, undeserving of its affluence, living beyond its means on the fumes of the past – and very soon vulnerable enough to challenge openly.
Left and Right seem to hate each other more than they do their common enemies.
“Like the Byzantines, Americans gave up defending their own borders, and simply shrugged as millions overran them as they pleased.
“Our once iconic downtowns, like end-stage Constantinople before the fall, are now dirty, half-deserted, dangerous, and dysfunctional.
“America prints rather than makes money, as its banks totter near bankruptcy.”
Here it is in its entirety: https://townhall.com/columnists/victordavishanson/2023/03/16/are-we-the-byzantines-n2620664
Much insight but he plays into the hands of those who would distract us when he likes the Chinese to the Ottomans.
America’s enemies are internal.
Minimizing the left-right conflict isn’t helpful either. No, we shouldn’t unite, despite differences, to battle the evil Chinese (or Russians, or Iranians, et al., ad nauseum).
We have seen the enemy and it is us.
The DNC/DS apparatus is the focus of evil in the modern world. It is the tool of fascist oligarchs to conquer and rule the world as a totalitarian, secular/atheistic, police state.
Really, the Chinese are just nationalists who exploited America through the globalist weakness of the Democrats. That is China’s major sin. They took us just as we wanted to go, same as the Japanese before them, except on a grander scale.
China siding with Russia is a virtue.
I for one have quit listening to those who go on about any enemy other than the internal one. I like VDH and he makes some good points but the time for clarity I this point is long overdue. Undefeated, the DNC/DS will cause America’s self destruction. VDH’s pointing out our internal decay, though, is a helpful step.