Surviving the crash

[VinnieBoomBah]

View attachment 1382256

The Stunning [But Inaccurate] Profile of SVB’s Chief Administration Officer – a Correction

Gentile’s Profile Prior to joining the firm in 2007, Mr. Gentile served as the CFO for Lehman Brothers’ Global Investment Bank where he directed the accounting and financial needs within…

mishtalk.com

That's a good link, but the one tucked inside it is better
TL/DR "Punishable by fine" means legal for rich people

https://mishtalk.com/economics/expect-criminal-indictments-of-svb-top-executives-heres-why

 

[parallax]

Drive on down in the morning if you actually believe your cash is on a shelf in the bank vault.

So True!

 

[Nick Burkhardt]

Yellen: No federal bailout for collapsed Silicon Valley Bank

WILMINGTON, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank , but is working to help depositors who are concerned about their money .

apnews.com

 

[41mag]

And pimento-stuffed green olives...

lets not lose our heads entirely here....make mine garlic stuffed green olives....

 

[Longwalkhome]

Obviously the thought is always about a full belly. No thanks on the green olives.

I have pondered out my best route should tommorrow get ugly and its going grocery shopping.

Get some dog food and people food and sit back and watch the show.

 

[Burt Gummer]

Forty-two years ago I lived in a van and am mentally prepared to do it again. Remove ladders, toss in camping gear. No one cares at all. Not gov, not your neighbors, no one. It is all on YOU.

Rather than stress about what will happen just appreciate breathing and maybe even eating if lucky.

As Carlin so aptly said it (paraphrasing) - 'They are coming for all it. They want it all, your retirement, your savings. They will get it all." People have a real hard time believing we have OWNERS but we do. Everything else is just stage acting.

They are sick and tired of us useless eaters and are warming up all sorts of fun for us in the next seven years. The last three have proven we are, as a population here in the US anyway, completely ready to be subjugated.

From social credits to allowed square footage for living quarters to 15 min cities and no freedoms; China being the world model.
As for the 2A or any Constitutional Liberties, gone. Replaced with a new WEF charter already pre-written.

Being mentally prepared and not in a state of sheer panic like the 95% is the #1 key to survival. Like Klaus said "first it was biological fear. Next will be electronic."

BG social score - negative 100,000 lol

 

[Hueco]

lets not lose our heads entirely here....make mine garlic stuffed green olives....

Everyone knows the spiciest alien gossip comes through when using jalapeño stuffed olives.

 

[VinnieBoomBah]

15 min cities

So unbelievable to me that "It would be really cool if we all could live someplace were almost everything you needed was only about 15 minutes away" got perverted into a dystopian conspiracy concentration camp theory.
And yet Musk is out there talking about building company towns and hardly a peep

 

[Nick Burkhardt]

 

[Jay Walk]

I have enough firearms and ammo to shoot at least until I am dead.

 

[Burt Gummer]

 

[AlwaysOnTheGo]

View attachment 1382422

That 'investment committee' is a rotating panel of people who appear on CNBC's Halftime Report. They have nothing to do with SVB.

Step away from the computer and take a deep breath fellas.

 

[Lilhigbee]

First of all, we need to remember what FDIC was created for. It wasn't to protect every dollar of every person or business in every bank in the country. it was to give some confidence to the average person to get them to put their savings in a bank without concern of it evaporating, hence the $100K (now $250K) dollar limit.
For those with larger sums in the bank it was merely a poor investment and the money is gone, just like my 401k when I make a poor investment choice.
I'm glad there will be no federal bailout. It may be the first wise financial decision to come from this administration. Let it fail, auction off the assets as with any other bankruptcy and the world will continue. All the 2008 bailouts did was reward the people who caused the problem in the first place, and the same would be true here.

 

[Nick Burkhardt]

First of all, we need to remember what FDIC was created for. It wasn't to protect every dollar of every person or business in every bank in the country. it was to give some confidence to the average person to get them to put their savings in a bank without concern of it evaporating, hence the $100K (now $250K) dollar limit.
For those with larger sums in the bank it was merely a poor investment and the money is gone, just like my 401k when I make a poor investment choice.
I'm glad there will be no federal bailout. It may be the first wise financial decision to come from this administration. Let it fail, auction off the assets as with any other bankruptcy and the world will continue. All the 2008 bailouts did was reward the people who caused the problem in the first place, and the same would be true here.

If I am a small to medium business who needs to keep at least one million dollars liquid to pay suppliers, keep the lights on, and make payroll; should I have to spread that over four or more banks to keep my money safe?

 

[Lilhigbee]

If I am a small to medium business who needs to keep at least one million dollars liquid to pay suppliers, keep the lights on, and make payroll; should I have to spread that over four or more banks to keep my money safe?

If that is the best way for you to run your business, then yes. Perhaps look towards a private investment insurance policy if it is a concern. The FDIC was never intended for your situation.

If I am a taxpayer who needs to keep as much of my income as I can to live on, should I have to pay for other's poor investment choices??

Simply put, relying on the government to fill the world with unicorn farts and fairy dust is a fool's errand.

 

[sobo]

Obviously the thought is always about a full belly. No thanks on the green olives.

I have pondered out my best route should tommorrow get ugly and its going grocery shopping.

Get some dog food and people food and sit back and watch the show.

Going grocery shopping in about 15 mikes, too - just like every other Sunday afternoon... This trip does not include purchasing weeks' worth of food (which are already stored in the fridge, freezer, pantry, and long-term, non-perishable, SHTF food stored in the "Mormon closet"). This is just the usual "milk run" for perishables like dairy, fresh fruits/veggies, meat (to replace the frozen stuff used recently), etc. I'll be watching this whole potential meltdown from my catbirdseat...

 

[sobo]

I have enough firearms and ammo to shoot at least until I am dead.

That's kinda all a matter of good timing, ain't it? Fire and maneuver, right...?

 

[Xaevian]

Simply put, relying on the government to fill the world with unicorn farts and fairy dust is a fool's errand.

Plus, unicorn farts and fairy dust cause climate change.

 

[sobo]

Plus, unicorn farts and fairy dust cause climate change.

In a good way, though, right? Not like GHG?

 

[Longwalkhome]

Going grocery shopping in about 15 mikes, too - just like every other Sunday afternoon... This trip does not include purchasing weeks' worth of food (which are already stored in the fridge, freezer, pantry, and long-term, non-perishable, SHTF food stored in the "Mormon closet"). This is just the usual "milk run" for perishables like dairy, fresh fruits/veggies, meat (to replace the frozen stuff used recently), etc. I'll be watching this whole potential meltdown from my catbirdseat...

Being old and single I buy more food for the dog than for me. His full belly is important. I went to Winco yesterday and spent $94 but need a trip to Costco for stuff I can't get at Winco. I have $132 of payback from the card I will spend.

That's a months worth of groceries for me and my buddy. Just saying I am not in a panic because I have been expecting this banking problems. In my best Foghorn Leghorn voice... "fortunately I have my feathers numbered for just such an occasion "