https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
Excerpt:
“After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, 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.
We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.
Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.”
My diatribe (edited to adjust for increased anger and cynicism since OP):
So if treasury, fed, fdic continue bailing out all depositors by increasing coverage premiums on existing banks, increasing their and therefore our banking costs and thereby taxing everyone who banks—disproportionately affecting the poor as bank fees tend to (as intended)—what’s the end of that? Big banks absorbing the small banks (as planned) but what about the costs?
There are winners in this scam. They should be the ones made to pay for those costs. Not the plebs. Like in a ponzi, the “lawful” winners must pay stolen/lost funds back to the scammed and the scammers must be arrested, tried, and imprisoned for a very long time. Otherwise we’ll just get more of these shenanigans. Should fire all DEI people and everyone they hired, too, and negate all of their ridiculous policies and priorities. Keep that stupid commie bullshit out of financial institutions ffs.
Also, why not convert the failed banks into member-owned credit unions and cut the big banksters—who clearly engineered this—out of the picture and only “make whole” those who were insured in the first place i.e. normal fucking people rather than [bernie voice] “millionaires and billionaires” who’s extraneous deposits were knowingly uninsured? They assumed great risk by keeping uninsured funds there. Why should that risk be transferred from the wealthy to the poor and middle class?
Lol we know why they’re doing this: Biden admin et. al. are the corporate fascist big banks’ and fascist big donors’ puppets
#EatTheRich unless they are fascist Silicon Valley limousine “liberals” I guess..
The people who said they’d “fix” everything if we gave them power are about to tell us that we didn’t give them enough power which of course is the preloaded “solution”.
Make the problem > cause reaction > come to the “rescue” with the intended “solution” (more power and control)
Looking forward to Monday. 🍿😎🍿
So in summary, as long as you are a big bank and have billions in deposits it is okay for you to make lousy and very costly investments because if things go south the Govt will come to your rescue. Unfuckinbelievable!!!!
Watch this one closely. Based on a cursory analysis of the customers which include CCP people, wokesters, SV elites, hedge fund dudes, Hollywood celebrities, people involved in rigging 2020 election, and a whole host of other criminals; I give this a 75% probability this was an EO13818 seizure of assets disguised as a bank failure. https://www.presidency.ucsb.edu/documents/executive-order-13818-blocking-the-property-persons-involved-serious-human-rights-abuse-or
More data should be available for us to dig on over the next couple weeks to increase that probability. Watch what actually happens, not what MSM is reporting.
Any individuals who are "collateral" damage will likely be made whole, and that may be the reason for the "public cover" of expanded insurance to uninsured deposits. But Oprah will likely not be out there publicly crowing about getting her $500M back, and normies won't dig into that.
I dunno....the thought that occurs to me is that this was a black hat play thats getting countered.
My thought process goes thus: BHs want to fold the world through a reset where they are the power structure. If they do that in quick order, people will seceed from their power structure in ways that will cause the whole thing to teeter and maybe collapse further than they want to go. No one wants power oflver rubble, they need those souls to sell.
What's the tried and true method to get control of people? Through their money. What does a systematic nationalization of banks do? Give them direct control over your money.
After these couple of small test banks, they'll hit the big four that most people have their money at ard" against "Russian terrorism" they'll implement CBDC. And everyone will follow them because their net worth is now under their control.
The initial or of step announcements about the failure (no bailoits, etc) were this plan and then the narrative jumped. We are totes fully bailing everyone out.
Interesting observations. I truly think it is too early to call this specific SVB event. But we know the cabal plan they are trying to implement is control via CBDC. It is just not crystal clear yet what the individual steps of their "stair step" plan is. Clearly financial chaos and fear mongering about the banks will play a significant role in some way. And this may be the start or just a preview to see how the population responds.
The end is that they will keep digging themselves deeper and deeper to bail out these banks and unlike in 2008, we are already in deep inflation going into this crisis, and anything they do to quickfix this will only send us into hyper inflation at warp speed. And that is the end game.
let's go!
....said Mario!
the flex tape ain't gonna fix this boat for long
rofl...upgrade from the duct tape and cardboard used to keep things together from March 2008 (Bear Stearns) until September 15, 2008 Lehman Brothers collapse? So we make it to October this time? I'm hearing echoes of 1929 already.
i'll be surprised if it gets to the end of april
I believe July 1 is target for completion of Debt Ceiling negotiations, but this may become contentious and dragged out until the Fall. The longer it goes on the more liquidity issues we should see. So right now a major event in April to June timeframe is high probability, imo. I'm guessing it will be failure of Bank of America, Citibank, Wells-Fargo, or JPM Chase. Needs to be something huge that MSM can't cover up.
How did some people have uninsured deposits? Or were these deposits over the FDIC limit? Because if that is what you are talking about, I agree. WE should not be bailing out a single cent more than the FDIC limit.
97% of the accounts were above the FDIC insured limit of $250,000.
Majority of those are Democrat donors.
Yep, Oprah Winfrey and her sick ilk. But Yellen is gonna make them all whole again. That fat cow is plenty whole and could use some trimming.
You kind sir from Texas are an authority on heifers and OLD cows. Your testimony is that of an expert witness and highly admissible in the court of kek. Thank you for making me laugh out loud fren.
This will likely be a key to understanding what happened here. Remember everyone was panicked when FTX got taken down, but it turns out it was a major Dem money laundering and stock market manipulation operation getting taken down. It looks like the Silvergate takedown was FTX backup. Deep State losing their backup money laundering ops faster than they can create new ones.
And it may turnout that collateral damage from Silvergate takedown was the REAL cause of SVB collapse. No one is talking about it, so I suspect MSM deflection/coverup of the real cause.
Not borne by the taxpayers?!?! How in the hazelnut is that even possible?
Lies. Just like COVID is naturally occurring. Just like Biden won any election. Just lies.
Disinfo is massive around SVB right now. Clearly dirty deeds being covered up by MSM.
They will try but we all know that at some point the taxpayer will pay.
They're levying an assessment on the banks...who will pass it on to their customers. I bet you the 90 million dollar account pays the same as the $200 account. The little guy is fucked again.
This.
So we have a new way to launder money for the Deep State and taxpayer expense!
Bailouts are standard play for money laundering (ref. 2008-2010). It may turnout different this time. As long as debt ceiling in place Federal Reserve and Treasury have limited options. They can talk all they want, but they don't have the ability right now to "print" bailout money, and anything else they do is sucking liquidity out of one place to put it into another place; and this forces them to choose who survives and who does not.
They are being forced to circle the wagons and abandon the weak players, imo. Message to Deep State: "You are taking casualties, but you can decide which ones to take now". And this reveals their "jewels" to target later.
This certainly looks like a Ukraine laundry
GME is our only hope at ending this shit
"Give me everything!" ?
What about all the insider trading?
Nothing to see here. Move along and find something with Trump
Get the Frau memes ready. Incoming distraction coming to push normie attention away from the SVB insider trading and quasi bailout shenanigans. More UFOs?
When you bail out sick businesses, the system never heals.
Something just occurred to me:
What if THIS is the "scare event?"
Prediction: the 'events' are going to escalate. This is just one more rung on a ladder that is increasingly ratcheting up the crises each coming week.
IMO, you ain't seen nothing yet.
But here is the thing. If we've been paying attention, we've known that this has all been coming. It was only a matter of when, not if. So, anons are in a position to be a hundred miles ahead of most of the people out there. Months and years ahead.
Also note: silver and gold are STILL being suppressed, which means you can buy a lot more if you want....
Using Federal Reserve printed fiat money to bail out.
Technically, they can say taxpayers are not funding it. But in reality, they are pumping out more inflation, which means everybody does pay for it.
Real Solution
END THE FED.
Have Treasury print their own money, without borrowing from the private central bank, and have STATES regulate ALL banks.
Federal government = coin and regulate money, backed by gold and silver, and print currency for general circulation and use.
State government = regulate banks, with no federal involvement.
Private sector = if you can come up with a better money that people want, you are free to do so. Best of luck if you can, but you will not get any funding or bailouts from government, whether federal or state.
EVERYTHING ELSE is a scam.
No only should we fix the election system, MAGA has to fight hard to get rid of the FED, IRS, and all of the other slave mechanisms they have in place.
The bubble pops= negative intrest rates. It will cost money to store it in the bank. Yet you’ll have no other choice because the gov will send armed itself agents to seize any cash you do not have in a bank calling it illegal. Here we go. Buckle up! A new tax is about to hit the people.