Buckle Up: Silicon Valley Bank Seized by the Fed

[John Stark]

Silicon Valley Bank Shares Halted After Plunge Deepens

The bank is reportedly looking to sell itself to a larger financial institution. | Economy

www.breitbart.com

Won't be the last one.

When the Butcher's Bill comes due, those multitudes of trillions in retirement accounts are going to look might tasty when the banks (and thus the "government") are forced to stop the printing presses and magical accounting.

 

[John Stark]

Even better read on SBV:

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Couldn't have happened to a nicer bunch of cretins.

 

[John Stark]

I usually don't run when I'm in a bank, but when I do its always for the exit...

 

[DoOver]

Wall Street Silver

@WallStreetSilv
·
3m

BlockFi’s crypto bankruptcy had $227 million at Silicon Valley Bank.
Quote Tweet

Lauren Hirsch

@LaurenSHirsch
·
21m
Per new bankruptcy filing, BlockFi has $227m in Silicon Valley Bank. The bankruptcy trustee warned them on Mon that bc those funds are in a money market mutual fund, they’re not FDIC secured — which could be a prblm w/ keeping in compliance of bankruptcy law

 

[DoOver]

 

[John Stark]

People think Vegas is where you go to get cleaned out by betting against the House.

Vegas ain't got nothin' on the betting scam that the Fed Coats have been running since 1913.

The only way to stop losing while betting on the dice, cards, or the ponies, is to stop frequenting the crooked gambling den.

 

[DoOver]

Weimar Silver Baron

@BankerWeimar


Get ready for more of these followed by many corporates moving funds to large money center banks… TAG (Transaction Account Guarantee) program may need a comeback.




6:24 PM · Mar 10, 2023
·
119
Views

 

[DoOver]

Christopher

@G_Male_Baby
·
3h

Tech CEO with at least $10M in Silicon Valley Bank: 'Worst 18 hours of my life' https://nypost.com/2023/03/10/tech-ceo-with-at-least-10m-in-silicon-valley-bank-locked-out-of-account/?utm_source=twitter_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons
via
@nypost



nypost.com
Tech CEO with at least $10M in Silicon Valley Bank: 'Worst 18 hours...
"It was pure and utter panic," Tyrner said when asked about her state of mind after she read news reports that the bank's stock price had plummeted.

 

[Saltwater60]

Nothing to see here folks. Just Biden sending more money to Ukraine.

 

[Drinkthekoolaid]

Did we build back better yet???

 

[GOPerfect]

I read somewhere that less than 5% of the accounts had less than $250,000. Which means those accounts are not binding under FDIC (Federal Deposit Insurance Corporation)

 

[GOPerfect]

Many larger banks took a big hit today as well.

 

[John Stark]

 

[JunkBoxFull]

GOOD! I could care less that these pricks lose their money AND their jobs.
Now they can have a taste of what it feels like to live on nothing and no jobs like some of the rest of us!!!

 

[JunkBoxFull]

This is awesome with what happened with the SillyCon Bank. Today the job`s report showed 311,000 new jobs. We all know that its FAKE numbers they put out in the report just to make JoePotatoBy-done look good to the country. NOW, with all these BIG TECH companies shitcanning their employee`s, banks keeping people from their money, i would like to know what the REAL numbers look like after that. My bet is they will hide the truth just to save themselves from their own doing.

LIE AFTER LIE AFTER LIE!
SINK, YOU BASTARDS!

 

[spat]

I read somewhere that less than 5% of the accounts had less than $250,000. Which means those accounts are not binding under FDIC (Federal Deposit Insurance Corporation)

85% of Silicon Valley's Bank's Deposits Were Not Insured

“It’s like a Lehman Brothers moment for Silicon Valley,” says one Silicon Valley startup founder whose company has millions of dollars tied up in SVB

time.com

 

[JunkBoxFull]

85% of Silicon Valley's Bank's Deposits Were Not Insured

“It’s like a Lehman Brothers moment for Silicon Valley,” says one Silicon Valley startup founder whose company has millions of dollars tied up in SVB

time.com

Boy is this ever going to be a shitstorm. I see other institutions going down real soon.
This is what happens to a country when you have complete fukking idiots running it that cheated their way to the top.

I`ve always said, you might be able to bullsh!t your way to the top, but it won`t keep you there!

 

[turbobike]

Notice how all the main news sites are burying this story...as OP said..buckle up!

 

[livingston]

SVB is Silicon Valley Bank, the almost exclusive banking network for Venture Capitalists (VC), tech sector start-ups and tech industry holding accounts. 48 hours ago, SVB was a “grade A” Moodys rating. As of tonight, they are insolvent.

Now, as ridiculous as this sounds outside Silicon Valley, the powers that be are concerned about a ‘contagion‘ effect, and openly discussing the need for a taxpayer funded bailout. Blood-boiling doesn’t even begin to describe the sensation.
Let the Silicon Valley companies who started with the funds from the bank sell some of their capitalization on the market and finance the bailout themselves. After all, this is one interconnected system of lenders, borrowers and investors. This is not a crisis for the guy making their catered lunches, mowing their lawns, or washing their clothes.

Silicon Valley Bank (SVB) Fails, Now the Idiots Are Considering a Taxpayer Bailout - The Last Refuge

SVB is Silicon Valley Bank, the almost exclusive banking network for Venture Capitalists (VC), tech sector start-ups and tech industry holding accounts. 48 hours ago, SVB was a “grade A” Moodys rating. As of tonight, they are insolvent. “All told, customers withdrew a staggering $42 billion of...

theconservativetreehouse.com

 

[livingston]

Thiel’s Founders Fund Withdrew Millions From Silicon Valley Bank​

• Thiel’s Founders Fund Withdrew Millions From Silicon Valley Bank
  
  
  

 

[livingston]

Two U.S. Banks Collapse in 48 Hours. Which One's Next?​

https://finance.yahoo.com/m/96fe7862-802f-39a6-a057-0775b8e403bb/two-u-s-banks-collapse-in-48.html#
Silvergate served the cryptocurrency industry, while SVB was the bank for Silicon Valley tech startups.

It's a black week for the American financial system: In just 48 hours, the banking sector has been shaken by the collapse of two major banks.

Most worrying is that these banks served two so-called growth economic sectors: the tech sector and the cryptocurrency industry.

https://www.thestreet.com/technology/two-us-banks-collapse-in-48-hours-which-one-is-next?puc=yahoo&cm_ven=YAHOO

 

[MothMan]

 

[livingston]

Bailouts .needed to protect the rich

 

[Saltwater60]

Weimar Silver Baron
@BankerWeimar


Get ready for more of these followed by many corporates moving funds to large money center banks… TAG (Transaction Account Guarantee) program may need a comeback.


6:24 PM · Mar 10, 2023
·
119
Views

Stuck? It’s not stuck most of it disappeared.
Government bail out 3.0 coming?

 

[tirwin1]

GOOD! I could care less that these pricks lose their money AND their jobs.
Now they can have a taste of what it feels like to live on nothing and no jobs like some of the rest of us!!!

View attachment 193012

I understand the sentiment but if this starts a wave of bank closures trust me you are going to give a shit.

 

[tirwin1]

SVB is Silicon Valley Bank, the almost exclusive banking network for Venture Capitalists (VC), tech sector start-ups and tech industry holding accounts. 48 hours ago, SVB was a “grade A” Moodys rating. As of tonight, they are insolvent.

Now, as ridiculous as this sounds outside Silicon Valley, the powers that be are concerned about a ‘contagion‘ effect, and openly discussing the need for a taxpayer funded bailout. Blood-boiling doesn’t even begin to describe the sensation.
Let the Silicon Valley companies who started with the funds from the bank sell some of their capitalization on the market and finance the bailout themselves. After all, this is one interconnected system of lenders, borrowers and investors. This is not a crisis for the guy making their catered lunches, mowing their lawns, or washing their clothes.

Silicon Valley Bank (SVB) Fails, Now the Idiots Are Considering a Taxpayer Bailout - The Last Refuge

SVB is Silicon Valley Bank, the almost exclusive banking network for Venture Capitalists (VC), tech sector start-ups and tech industry holding accounts. 48 hours ago, SVB was a “grade A” Moodys rating. As of tonight, they are insolvent. “All told, customers withdrew a staggering $42 billion of...

theconservativetreehouse.com

What I don't understand is how $42 billion was withdrawn in a day. That's obviously a lot of wire transfers by people in the know, not ordinary people closing their checking accounts. This stinks of insider information.

 

[John Stark]

While that talking head Cramer was telling people through his cable news show to keep their monopoly $ in SBV, the CEO of SBV had already grabbed a bucket weeks prior and was bailing out his own life boat without telling the other passengers that the cruise ship had hit an iceberg:

Silicon Valley Bank CEO Sold $3.5M of Stock Two Weeks Before Collapse

The CEO of Silicon Valley Bank sold $3.57M of company stock just two weeks before the bank collapsed on Friday.

www.breitbart.com

 

[DoOver]

 

[DoOver]

 

[tirwin1]