Silicon Valley Bank Crash today

[Ghoti Ichthus]

Uh, oh.

Think I might be pre-emptive and maybe pay my quarterly long-term care insurance premium a month before it's due.

 

[Kitten]

Uh, oh.

Think I might be pre-emptive and maybe pay my quarterly long-term care insurance premium a month before it's due.

I did kind of the opposite. I am healthy and never use my insurance, so I cancelled it. I also don't trust the medical profession any longer after the pandemic and vaxx fiasco. I think I am going to need that money for things I actually use.

 

[Ghoti Ichthus]

Dear God, please don't destroy our country(ies).

Surely there are at least ten Christians in each one

32 And he said, Oh let not the Lord be angry, and I will speak yet but this once: Peradventure ten shall be found there. And he said, I will not destroy it for ten's sake.
Genesis 18:32, KJV

 

[soundingthealarm]

O ye of little faith! Aren’t any of you aware that Secretary of the Treasury Janet Yellen has said this is just a localized issue and that our government has the tools to make a few adjustments to deal with this.
I’m sure you will agree that this administration is loaded up with tools.
Therefore I predict a nationwide run on banks beginning Monday morning. Things will continue to deteriorate until Friday when Joe declares:
IT’S TRUMP’S FAULT!!

Psalms chapter 2 is such a calming passage as we press forward during a time so many in positions in leadership attempt to bring in their Godless utopia!

Our loving Heavenly Father is laughing at them all and holding them in derision

 

[Spartan Sprinter 1]

Signature bank has also gone down , oh boy !!!!

US Signature Bank shut down by regulators, days after SVB collapses​

A third US bank has toppled in as many days as shockwaves have been sent around the world as the financial disaster deepens.

https://www.news.com.au/finance/bus...s/news-story/a31b2ad2158151bf91acf811da1be7e6

 

[soundingthealarm]

looking up, thanking God that His Restraining Presence is only allowing things to be moved into place and His Word tells us to “be anxious for nothing” and “fear not.”

Trusting in His guidance and provision and that He takes us from faith to faith and from victory to victory!

Titanic (planet earth) is beginning to show signs of hitting the iceberg and so thankful we are IN The Only Lifeboat given us…Jesus Christ. \O/

Blessed Hope!

 

[Círeth]

Makes me glad I don't have anything in the stock market.

Other than my Bible, hymnal, clothes, etc. I "own nothing and am happy"

If the market crashes there will probably be a global depression.

 

[Ghoti Ichthus]

Here's the FDIC press release reference Signature Bank

Press Release

FDIC Establishes Signature Bridge Bank, N.A., as Successor to Signature Bank, New York, NY​

Sunday, March 12, 2023

For Release​

"WASHINGTON — Signature Bank, New York, NY, was closed today by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC transferred all the deposits and substantially all of the assets of Signature Bank to Signature Bridge Bank, N.A., a full-service bank that will be operated by the FDIC as it markets the institution to potential bidders.

Signature Bank had 40 branches across the country in New York, California, Connecticut, North Carolina, and Nevada. Banking activities will resume Monday, March 13, 2023, including on-line banking. Depositors and borrowers will automatically become customers of Signature Bridge Bank, N.A. and will continue to have uninterrupted customer service and access to their funds by ATM, debit cards, and writing checks in the same manner as before. Signature Bank’s official checks will continue to clear. Loan customers should continue making loan payments as usual.

The transfer of all the deposits was completed under the systemic risk exception approved earlier today. All depositors of the institution will be made whole. No losses will be borne by the taxpayers. Shareholders and certain unsecured debt holders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund (DIF) to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

These actions will protect depositors and preserve the value of the assets and operations of Signature Bank, which may improve recoveries for creditors and the DIF."

More
https://www.fdic.gov/news/press-releases/2023/pr23018.html

 

[Ghoti Ichthus]

Looks like TPTB are going after private crypto now/next

Take out the issuers or destroy trust in them . . .

Regulators close crypto-focused Signature Bank, citing systemic risk​

Published Sun, Mar 12 20236:24 PM EDTUpdated Sun, Mar 12 20238:01 PM EDT
Yun Li

U.S. regulators on Sunday shut down New York-based Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis.

More
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html

 

[jeanie]

Looks like TPTB are going after private crypto now/next

Take out the issuers or destroy trust in them . . .

Regulators close crypto-focused Signature Bank, citing systemic risk​

Published Sun, Mar 12 20236:24 PM EDTUpdated Sun, Mar 12 20238:01 PM EDT
Yun Li

U.S. regulators on Sunday shut down New York-based Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis.

More
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html

Yep, that's what I heard, too. They want to be the sole player in the financial field.

 

[Jan51]

I just this moment received an email from my bank reassuring its customers and explaining why those banks had trouble and why this bank isn't like that.

 

[jeanie]

I just this moment received an email from my bank reassuring its customers and explaining why those banks had trouble and why this bank isn't like that.

I would find that cause for concern. They are concerned, at the very least

 

[jeanie]

Thank God, our hope is in Christ alone!

 

[Wally]

Sounds like Silicon valley was augmenting a sagging infrastructure and creating a false impression of vitality.

I guess they should have crossed their heart instead.

Yea, you can move this to the tell a joke thread if you can figure that out.

 

[soundingthealarm]

The debtor is slave to the lender, Debt is being used as a WMD against national sovereignties to enslave the masses to the NWO

It has to happen BUT GREAT NEWS, this is NOT our home!! If the rapture was like a hot air balloon, the cords holding us down are being removed!! Once The Restrainer, steps into the balloon with us and tells the world, OK have it your way....we are OUTTA HERE

And in the meantime Our Lord tells us "take no thought for your life, what you shall eat or drink" He is OUR PROVIDER!!!

 

[jeanie]

Trading has halted on a bunch of banks..

 

[jeanie]

Trading has halted on a bunch of banks..

From nasdaq trader

 

[Wally]

If the government tells people everything is under control, no one believes them and panics

If they do nothing, people will think nothing is under control and panic

If the truth is reported, people won't believe it and panic

If they tell you not to worry about the panicking people, the rest will think they are missing something or being taken advantage of and panic

Those in power love to make money and will incite panic to promote sell off, and will wait and by cheap later after most have panicked


Remember, God is in control. He has told us what we need to know. Relax and have some pancakes.

 

[GEOINTAnalyst]

SVB (Silicone Valley Bank) had taken a lot of those deposits in 2020 and 2021 and bought long-term treasuries and mortgage-backed securities that carried very low interest rates. This wasn’t a totally reckless decision (IMHO): None of the assets it bought were at risk of defaulting. But it did expose SVB to a lot of risk if interest rates spiked, because when interest rates rise, bond prices fall.
This is exactly what happened in 2022. The result was that by the end of 2022, SVB was sitting on $16 billion in unrealized losses on its investment portfolio, meaning that on a mark-to-market basis, its assets barely covered its liabilities. So they went belly-up

 

[soundingthealarm]

SVB (Silicone Valley Bank) had taken a lot of those deposits in 2020 and 2021 and bought long-term treasuries and mortgage-backed securities that carried very low interest rates. This wasn’t a totally reckless decision (IMHO): None of the assets it bought were at risk of defaulting. But it did expose SVB to a lot of risk if interest rates spiked, because when interest rates rise, bond prices fall.
This is exactly what happened in 2022. The result was that by the end of 2022, SVB was sitting on $16 billion in unrealized losses on its investment portfolio, meaning that on a mark-to-market basis, its assets barely covered its liabilities. So they went belly-up

I read where 90% of its customer base had deposits more than the FDIC insured $250,000.00

It seems like a very opportunistic time for our Government to proclaim they are coming in to "bail out" when really they are just spending to crash. IE like Governor Newsome during the lockdowns, spend spend spend from government coffers and at the same time putting a stranglehold on private industry killing taxable income ...making no sense UNLESS you were intentionally trying to kill current economy to usher in its replacement.