Is now, however, soon it might not be because when the fake propped up assets start to fail as we all know they will eventually, people will realise their money is not safe and scramble to buy up gold and silver. You always want to get in before the panic.
I am all in, but I think some people will sell for liquidity reasons. In 2008 silver dropped to $8.00 an OZ. I added some then & if it does that again I will add to my stacks.
The only real sauce I found was NYT, I know I know, but they give a less "hair on fire" assessment of what's happening. My thought is that perhaps it is a precursor to a revealing of our financial system actually being in a much more dire state than we have been led to believe. More banks to fail because nothing has changed since the meltdown of 2008/9 and now they want it.
Panic swept through the start-up industry on Thursday as investors at some venture capital firms urged portfolio companies to move their money from Silicon Valley Bank over concerns about the tech industry stalwart’s financial stability.
Silicon Valley Bank’s spiral was set off by its surprise announcement Wednesday that it would take extraordinary and immediate steps to shore up its finances amid a dimming economic environment for the start-ups and other technology companies that dominate its client base. The bank disclosed that it had sold off $21 billion of its most liquid, or easily tradable, investments; borrowed $15 billion; and organized an emergency sale of its stock to raise cash.
Banks are loath to take any of those steps — let alone all three at once — and when they do, the moves are typically carefully choreographed. Silicon Valley Bank’s stock price plummeted 60 percent on Thursday as investors rushed to sell shares after the announcement.
But a number of investors, including Arjun Sethi, an investor at Tribe Capital, advised companies to move some or all of their money from the bank. “Almost by definition, any bank with a business model is dead if everyone moves,” Mr. Sethi wrote to Tribe Capital founders in a memo. Other firms made similar moves, according to four memos viewed by The New York Times.
This is always how it starts. Are we to believe that this specific bank was doing something different from the other banks. If what we have seen in the past, all the big banks do pretty much the same stuff, take the same risks, steal in the same way. If we do believe they all act in pretty much the same way, then the others will follow. I'm with Cramer on this one, JP Morgan might be next. See reference below:
Also... https://files.catbox.moe/ps22dp.jpg
Wells Fargo is having problems with payroll direct deposits.
https://files.catbox.moe/u50mn1.jpg
https://files.catbox.moe/1aaxv8.jpg
I think we might see a good buying opportunity for silver & gold soon.
Is now, however, soon it might not be because when the fake propped up assets start to fail as we all know they will eventually, people will realise their money is not safe and scramble to buy up gold and silver. You always want to get in before the panic.
I am all in, but I think some people will sell for liquidity reasons. In 2008 silver dropped to $8.00 an OZ. I added some then & if it does that again I will add to my stacks.
Mine was in there but there was a notice saying some balances maybe incorrect due to technical issues 😬
The only real sauce I found was NYT, I know I know, but they give a less "hair on fire" assessment of what's happening. My thought is that perhaps it is a precursor to a revealing of our financial system actually being in a much more dire state than we have been led to believe. More banks to fail because nothing has changed since the meltdown of 2008/9 and now they want it.
Today: "Markets close sharply lower as bank stocks take a beating" https://www.cnn.com/2023/03/09/investing/stocks-daily-update/index.html
The gist:
https://www.nytimes.com/2023/03/09/business/silicon-valley-bank-investors-worry.html
https://www.fdic.gov/news/press-releases/2023/pr23016.html
This is always how it starts. Are we to believe that this specific bank was doing something different from the other banks. If what we have seen in the past, all the big banks do pretty much the same stuff, take the same risks, steal in the same way. If we do believe they all act in pretty much the same way, then the others will follow. I'm with Cramer on this one, JP Morgan might be next. See reference below:
https://greatawakening.win/p/16aTQeRkFr/if-we-go-with-cramer-jp-morgan-w/