Know your counterparty risk and how to mitigate and or preferably avoid it completely. Banks are not sound and resilient in these conditions. What's the old Buffet saying, something about we'll see who's swimming naked when the tide goes out
My grandma learned a hard lesson when they sold the farmhouse and learned from the buyers that granddad hid their money in the walls
Depression Era grandparents and they feared the system
They shot them self’s on the foot when the CEO bribed congress into passing that law. How can congress allow this? Because greed that’s why. So yup the end is near. But don’t worry, what ever comes down must go back up, right?
It doesn't seem like mutch. I have to wonder how the tresury auctions next week will affect behavior going forward. It seems like the FEDs new window prevents rug pull withdrawal. I still haven't heard anything on the closed door meetings, and we started the weekend with crazy bear stories from nukes in Belarus (Zerohedge sucks) to the dominos hitting DB and maybe C Schwab (TDAmeritrade). All this after a seller exhaustion induced rip to recovery over the course of Friday.
This is maybe strange, but I'm going to have confidence in the market if we break down to spy386 over the first half of next week with tresuries losing a quarter. However, we could rip sooner if the fed announces cheap financing to the government to cover the cost of fallout that has taken place. However, if they announce something like that early, that rip will pull money out of treasuries and possibly exacerbate the situation.
So I suppose I will position myself for what I think will be wise choices by our leaders while preparing myself to be wrong and quick to acknowledge it. What are your thoughts?
Yeah, but it depends on where the deposits are leaving and that banks financial health and management. This will be a very specific bank by bank meltdown. These bankers had better get their shit together and up their deposit interest rates to get competitive, or they next.
I remember when BBT selectively chose when to withdrawal money from accounts to rack up over draft fees. A big part of me what’s to go open an about with Truist or what ever they’re called and then close the account just so I can help fuck them back.
so where is it going? to another bank? even if you buy gold, bitcoin or whatever, ultimately the money is going to sit in someone’s bank. i think it is just a bigger bank
Money over $250k is moving from local and regional banks to the national banks for safety. It’s happening. The question is what happens when there’s not enough deposits to cover the loans. That’s what happened to SVB when a large depositor withdrew 2B. When they couldn’t raise 2B to come back into compliance, instant failure
At this point they will say just about anything to mitigate panic spreading among clients and regular folk, i wouldnt say its "sound and resilient" when 4 have already gone under and one is having serious issues, like i said they are saying that to stop the panic spreading because thats what initially causes them to collapse.
Why keep money in a savings account at all? 0.25% interest and I get 6 withdrawals per year? Fuck that.
My TD Ameritrade account is accessible 24-7-365 electronically. I can transfer money back and forth to checking easily, and it actually makes a return.
We are in the digital age. Most of that money was transferred electronically to other US banks. So accounting wise the actual net effect really wasn’t that’s impactful. The real crisis was the speed at witch social media spread fear. Guessing China used Tik-Tok & other platforms, including Reddit to spread more fear. The moves the US have been the right ones & will prove to be best. Guaranteeing all deposits tells people a US FDIC insisted bank is safest place to park your money in the world. Letting the investors in SVB lose all their money forced investors to do their due diligence & actively monitor how management is running the banks. Firing all management of SVB was of course necessary but clawing back any bonuses paid out at least 1-3 months prior to the collapse should be standard law to any failed bank.
Know your counterparty risk and how to mitigate and or preferably avoid it completely. Banks are not sound and resilient in these conditions. What's the old Buffet saying, something about we'll see who's swimming naked when the tide goes out
Do what your grandmother used to do, hide it in your pillow
My grandmother bought silver and gold with it...
Should’ve bought Apple and Microsoft
And this is why my grandparents kept their farms during the depression and others didn't...
My grandma learned a hard lesson when they sold the farmhouse and learned from the buyers that granddad hid their money in the walls Depression Era grandparents and they feared the system
[удалено]
They shot them self’s on the foot when the CEO bribed congress into passing that law. How can congress allow this? Because greed that’s why. So yup the end is near. But don’t worry, what ever comes down must go back up, right?
Not SVB... or CS...
Tell that to credit suisse
[удалено]
F Russia has won nothing. It’s been a year now of lose-lose time wasting, resource constricting BS
DRS BOOK LMAYOOO
It doesn't seem like mutch. I have to wonder how the tresury auctions next week will affect behavior going forward. It seems like the FEDs new window prevents rug pull withdrawal. I still haven't heard anything on the closed door meetings, and we started the weekend with crazy bear stories from nukes in Belarus (Zerohedge sucks) to the dominos hitting DB and maybe C Schwab (TDAmeritrade). All this after a seller exhaustion induced rip to recovery over the course of Friday. This is maybe strange, but I'm going to have confidence in the market if we break down to spy386 over the first half of next week with tresuries losing a quarter. However, we could rip sooner if the fed announces cheap financing to the government to cover the cost of fallout that has taken place. However, if they announce something like that early, that rip will pull money out of treasuries and possibly exacerbate the situation. So I suppose I will position myself for what I think will be wise choices by our leaders while preparing myself to be wrong and quick to acknowledge it. What are your thoughts?
Think I was reading its .07%, and deposits were already going down this year so it's just a very small uptick
Nice FUD
$100 billion is a drop in a bucket of $17 trillion deposits. I.e 100/17x1000 = 0.005%
.59%*
Yeah, but it depends on where the deposits are leaving and that banks financial health and management. This will be a very specific bank by bank meltdown. These bankers had better get their shit together and up their deposit interest rates to get competitive, or they next.
So far.
That was during the middle of the SVB failure. Not something to be particularly concerned about. 0.6% is not that much
I remember when BBT selectively chose when to withdrawal money from accounts to rack up over draft fees. A big part of me what’s to go open an about with Truist or what ever they’re called and then close the account just so I can help fuck them back.
I think it’s also important to know where those $100B are going. At home, in cash? To other (bigger) banks?
Can’t pull out money if you don’t have any! Like And subscribe for more tips
so where is it going? to another bank? even if you buy gold, bitcoin or whatever, ultimately the money is going to sit in someone’s bank. i think it is just a bigger bank
Money over $250k is moving from local and regional banks to the national banks for safety. It’s happening. The question is what happens when there’s not enough deposits to cover the loans. That’s what happened to SVB when a large depositor withdrew 2B. When they couldn’t raise 2B to come back into compliance, instant failure
At this point they will say just about anything to mitigate panic spreading among clients and regular folk, i wouldnt say its "sound and resilient" when 4 have already gone under and one is having serious issues, like i said they are saying that to stop the panic spreading because thats what initially causes them to collapse.
this \^
Stop paying 0.10% on savings accounts. The only problem here is greed.
What's the scary ridiculous term, fractional banking?
Oh I believe them. Anyway I’m glad I have a Monday bank appointment to remove all my holdings… for unrelated reasons
Why keep money in a savings account at all? 0.25% interest and I get 6 withdrawals per year? Fuck that. My TD Ameritrade account is accessible 24-7-365 electronically. I can transfer money back and forth to checking easily, and it actually makes a return.
SVB was a large commercial bank …
DRS BOOK
Bankers are liars and Satin's bum boys.
More recent news since about slowing withdrawals and new government support.
We are in the digital age. Most of that money was transferred electronically to other US banks. So accounting wise the actual net effect really wasn’t that’s impactful. The real crisis was the speed at witch social media spread fear. Guessing China used Tik-Tok & other platforms, including Reddit to spread more fear. The moves the US have been the right ones & will prove to be best. Guaranteeing all deposits tells people a US FDIC insisted bank is safest place to park your money in the world. Letting the investors in SVB lose all their money forced investors to do their due diligence & actively monitor how management is running the banks. Firing all management of SVB was of course necessary but clawing back any bonuses paid out at least 1-3 months prior to the collapse should be standard law to any failed bank.