Silvergate Bank... Silicon Valley Bank... Signature Bank... ???
Literally spilled my coffee at "a person capable of tying his shoelaces" metaphor. Thank you Bill for the wholeheartedly laugh. You're awesome!
Bill asks why so many bank regulators were asleep at the wheel. From several articles on conservative websites about the SVB matter that I’ve read, many commenters are wondering if this lack of oversight has something to do with a sneaky push for digital currency. A few pointed to a recent sneaky attempt by someone or some group trying to get digital currency started in, of all places, conservative South Dakota. Fortunately, SD Gov. Kristi Noem stopped it. But apparently she told Tucker Carlson that this nonsense was being attempted in nineteen other states. Scary stuff. I know that Dan Denning closely watches the digital currency matter, so I’m sure he’d let us know if he thought there was something to bank failures and digital currency; or, if this was just another conspiracy theory. Of course, it takes time to connect any dots here because of the complexity of financial matters. (And Dan’s reporting on digital currency is one of many reasons why BPR is such a valuable service.)
That Ukrainian oligarch must have had a hell of crew trained in deep sea demolition. Great journalism NYT!
Damn, this feels a lot like 2008 - "nothing to see here folks, the problem's well and truly contained, the banking system is totally sound"- and they think no-one remembers. Maybe, they're right, but I'm sure there's a saying about repeating the same thing and expecting a different result, just can't remember what it is!!! Especially as this time around the problem is so much worse
I’d lean to the 85 yr old and then consider my response be moved from 1/2 assed to 3/4 assed if I were wrong.
Nice to find out as I scanned my accounts that I owed shares in all 3 of these banks.
Guess I wasn't in full safety mode.
Far offset by the rise in gold and silver today though.
In a 5th Generation Warfare world the citizens are kept in the dark about everything important. If only it were so simple as not having the lights on. Our eyesight would eventually adjust and we could figure out how to grope around in the dark. But in our brave new world we have narratives, half-truths, limited hangouts, truth packaged with a lie, the lie deliberately exposed, discrediting the truth which was the goal all along ..... ad infinitum ad nauseum. Everything is upside down. Joseph Goebbels would the vapors and vertigo, and pass out.
Great explanation for SVB failure. Find it here Michael Green.
I think you meant to say: ...as long as HIGHER rates don't cause too much trouble?
I agree with Bill , that’s just the beginning but not the breaks that will cause the collapse of the equities and bond market ... but yes the prémices .
Can you hear that?
It's the receptionist shouting "NEXT!"...
Crack..Crack...Crack....just like that darn rock chip in the windshield. Where will it stop?
It sounds like I need a whole new set of friends that lobby for a living.
Why do you designate me as a “free subscriber” when I’m a paid up subscriber? Jim.Leonard.email@example.com
The ironic insanity of today’s government incompetence can be truly overwhelming. Best to just laugh in the face of it. I like your “new and improved positive spin”.😀
oh dear Bill, you must have had investments in this 'almighty nord stream pipeline' eh? is that really going to change the colour of anything except push EU into a tighter connection with those "rules based" countries with whom they supposedly have so much in common ? sure has done that so now the Aussie Taxpayers (me) have to front up with say $400 Billion over the next decade or so for the privilege of renting the older class US/UK Subs until we can build our own (with AUKUS help!) of course just so Pz can become an even bigger target than we already were via our 3 major listening stations across this little island in the south pacific .. oh my lets blow up all the other Pipe Lines crisscrossing Europe/Middle East etc so we can worry about who did what to whom .. just all distraction Bill which I thought you'd be to smart to fall for since the REAL GAME has already started and it's MUCH BIGGER than just one pipeline that supposed grandpa Biden blew up .. get a grip Bill it's a three cornered Chess Game and you're investments are ALL in the middle realm!