Silicon Valley Bank is shut down by regulators in biggest bank failure since Global Financial Crisis
Is this shutdown a legit whitehat response to financial corruption that was uncovered or is it a blackhat effort to hide payments made to Silicon Valley for all their censorship work?
When our financial system starts to crumble, the FDIC does not have enough money to ensure all the banks. From what I read is they only have enough money to ensure 1% of all the bank deposits.
FDIC has $125 Billion in total.
https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/index.html
The FDIC insures over $10 trillion of deposits in U.S. banks.
https://20somethingfinance.com/fdic/
That equates to aprox 1%. If there is a collapse across all banking systems, 99% of the people will get screwed.
You have to wonder, are they shutting down specific banks first so the people at the top get their money out of the FDIC before the rest of us get screwed?
I have always believed this movie will not come to an end until the current financial system is destroyed. Ridding ourselves of the current money printers is crucial, the Federal Reserve. They are taxing us to death on money printed from thin air, sending our wealth back to the Rothchilds who then pay the globalists to enslave us.
We have heard lots of rumbling about a coming recession. I think it will be much worse than that. I have said in the past, the scare event could be people blocked from their money. If we go into a hyperinflationary event or there is a Dominoe collapse of all the banks, everyone will be awake at that point.
We have a lot of evidence coming out right now, how do you gain everyone's attention and say, "Hey look at this"? A financial collapse would certainly grab everyone attention, .....now lets show you the extent of the corruption.
Will SVB bank closure be the first Dominoe? Its coming but when?
Stay safe!!!
WWG1WGA!!!
I had no idea how this actually worked. I did believe that a person could have several accounts up to the insured amount and they would be okay.
It's one person, per bank. So all of your accounts combined at every bank you deal with is covered up to $250K (or $500K if you're married, but that's still $250K per person).
Meaning if you have a savings account, a checking account, a money market account, and a CD account at a single bank, all of them have a combined insurance of $250K ($500K for married couples).
There are ways to extend this by using services that split up your money between banks and credit unions across the country so that each bank has no more than $250K in it, while you can access the full amount from your designated home bank. But the insurance coverage doesn't change, and there's a limited number of banks in the US.
Quick search says that there are currently 4,746 commercial banks in the US. At $250K a piece the maximum conceivable coverage a person could achieve is $1,186,500,000, which is enough to cover 103 people using OP's numbers for how much cash the FDIC has on hand. And that's having it split evenly, which we all know would never happen.
People like Gates, and Bezos are gonna get a bigger chunk of the pie (assuming they get any), and that's not even getting into the shadowy overlords pulling the strings behind the scenes.
Besides this, most billionaires don't have this much cash lying on hand anyhow. The majority of ultrawealthy people have almost their entire fortune tied up in the stock market.
In the grand scheme of things, Real Estate, Precious metals, etc. are not the favored investment of the ultra wealthy. They don't deliver explosive returns over a short period of time and there's very few (if any) ways to manipulate their value or price by using elaborate schemes.
The complete opposite is true of stocks and equities, where it's so easy to manipulate values, that it's basically child's play.
There's a reason most cabal stooges are tech bros or stock market manipulators, while most "good billionaires" (Like Trump), are heavily invested in actual real asstes. There's also a reason why they're that people who earned their fortune honestly (again Trump), are generally 20-30 years older than cabal stooge billionaires. Because it takes longer to build things when you don't have the cabal backing you up.
EDIT: I feel I should also point out that "Maximum possible coverage" isn't really feasible either, since not all 4,746 banks in the united states participate in in these account splitting services, nor is it realistic sicne most ultra wealthy will have large accounts at private wealth banks and commerical banks due to their resources and investment programs. Take JP Morgan, they require a minimum investment of $10 Million to be a client in their private banking services. So that's at least $10 Million that can't be split between other banks for FDIC insurance. And most clients will have MUCH more than the minimum investment held in their accounts.
There's a reason that all these wallstreet banks have ridiculously high assets on their sheets. It's because all the cabal billionaire wealth is concentrated in like, 100 banks and investment firms in the country. They rarely, if ever, venture out into smaller banks, even for protection.
A very detailed explanation, thanks.
And a company is legally one person.... So company accounts.......
Ah yes, so Microsoft, Apple, Amazon and maybe a few others can come out unscathed since they all have $20-50 Billion in cash and cash equivalents. Or you know, just Berkshire Hathaway since Warren Buffet is sitting on a $100 Billion+ pile of liquid cash right now. Meaning literally every other company/Billionaire is screwed like the rest of us, while either Berkshire Hathaway or 3-4 Tech Companies come out unscathed. There's literally no way of making this mathematically work. Especially when most publicly traded companies assets are known.
MAYBE someone like the Koch Brothers (whichever one is still living) could get away with this by using not just US banks, but international banks as well since Koch industries is privately held and thus not subject to the same regulations as publicly traded companies. But even then, there's still not enough liquidity for all the cabal billionaire stooges and cabal companies to siphon off money from the Bank Insurance system and come out without a scratch.
It's mathematically impossible.
I imagine that a few of the big tech firms had accounts at SVB... But also imagine that they were some of the early withdrawals that helped send SVB into its death spiral... The numbers I cited were from the end if 2022...