Surviving the crash

[Xaevian]

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

No, it is of mythical proportions!

 

[VinnieBoomBah]

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

With only a tiny bit of planning that is an easy waypoint to hit

 

[Longwalkhome]

Joint Statement by Treasury, Federal Reserve, and FDIC

Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Cha

www.federalreserve.gov

Another bank fails.

 

[AlwaysOnTheGo]

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

"Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."

"Shareholders and certain unsecured debtholders will not be protected"

The Fed backstop is official.

Markets will surge tomorrow.

 

[VinnieBoomBah]

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

"Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."

"Shareholders and certain unsecured debtholders will not be protected"

The Fed backstop is official.

Markets will surge tomorrow.

Man, I wish I could toggle Capitalism and Socialism on and off like that when ever I wanted!!

 

[Burt Gummer]

A wise move would be to log into any accounts you have and save a PDF/printout of statements. Watched a video of a foreign bank closure where the bank simply denied that customers had accounts at all. Or they would have 'balance errors.' All conveniently blamed on a hack.

About 150 years of great PR has convinced people that bankers are great folks just looking out for their best interests. All while the top bank (FED) is a foreign-owned, non-accountable, non-audited, full protected, trillionaire owned, non-government institution.

Little known fact deleted from the history books: Up until the late 1800s greedy bankers in the West were still being hung for the light posts for attempting to steal farmer's lands and properties. Years later (1913) the bankers took over control of the country.
G.Edward Griffin - The Creature from Jekyll Island is a great read on that topic.

For those that still believe all is well I encourage you to go to your bank tomorrow and try to withdraw $3-$4k in cash. Please remember in their minds YOUR $$ is THEIR $$. They are not paying any significant or zero interest for most accounts so what is their purpose? To hold your $$? You can do that. Ahh good times.

 

[Mike7b]

The smell of schadenfreude is overpowering on this thread.

 

[Xaevian]

The smell of schadenfreude is overpowering on this thread.

That's just the unicom farts. Keep up, man!

 

[arakboss]

I guess one good thing about having spent my money on firearm stuff is not having to worry much about a run on the banks. For those that have lots of savings in bank this may reassure you, or not.

U.S. regulators try to reduce bank-run risk, discuss fund to backstop deposits if more banks fail in wake of SVB collapse

Officials have discussed a fund to backstop deposits if more banks fail as part of wider contingency planning, sources said.

www.google.com

 

[arakboss]

Hedge Fund Investor Bill Ackerman believes that SVB"s uninsured depositors will only get immediate relief of 50% of deposit amounts.

https://twitter.com/x/status/1634662286844411904

 

[ma96782]

‘The government has about 48 hours to fix a soon-to-be-irreversible mistake’: Hedge-fund titan Bill Ackman warns some businesses may not be able to meet payroll in wake of SVB’s failure

Silicon Valley Bank had boasted of having relationships with more than half of the venture-backed companies in the U.S.

www.marketwatch.com

Aloha, Mark

PS....does this mean that perhaps Crypto is next?

 

[arakboss]

‘The government has about 48 hours to fix a soon-to-be-irreversible mistake’: Hedge-fund titan Bill Ackman warns some businesses may not be able to meet payroll in wake of SVB’s failure

Silicon Valley Bank had boasted of having relationships with more than half of the venture-backed companies in the U.S.

www.marketwatch.com

Aloha, Mark

PS....does this mean that perhaps Crypto is next?

Crypto was first but will probably keep
taking hits.

 

[VinnieBoomBah]

Crypto was first but will probably keep
taking hits.

Crypto is the Lularoe of dude bros.

 

[Mono1]

And pimento-stuffed green olives

...and some fava beans with a nice Chianti

 

[Mono1]

Forty-two years ago I lived in a van and am mentally prepared to do it again.

Just make sure there is some water in the bottom of that bucket.

 

[Grahampha]

Got horses. Will ride 'em when there's no gas, grab a rifle and go huntin' off 'em when there's no food for me, and eat 'em when there's no food for them. Course there'll be no refrigeration by that time, so unless it is winter there'll be a big barbecue at my place for the whole neighborhood for days. I hear it's not too different from elk. "Slow elk," I think they were called. Gosh that's gonna be a tough day. And tough steak.

 

[arakboss]

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

"Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer."

"Shareholders and certain unsecured debtholders will not be protected"

The Fed backstop is official.

Markets will surge tomorrow.

That is good news. I wonder how many other banks they will be shutting down this year?

 

[sobo]

Just make sure there is some water in the bottom of that bucket.

The hell you say!

Bucket, Hefty bag, and kitty litter. Only solids go in the bucket! Piss into a pee bottle to keep the kitty litter usage down. Pour out the pee bottle after every use. Easy enough to piss in the bottle while you're takin' a dump in the bucket.

Don't you know anything about SHTF waste disposal...???

 

[sobo]

That is good news. I wonder how many other banks they will be shutting down this year month?

FIFY...

 

[Mono1]

Easy enough to piss in the bottle while you're takin' a dump in the bucket.

Some of us may not have that much coordination