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Started By
Message
A Rush to CBDC?
Posted on 3/21/23 at 2:14 pm
Posted on 3/21/23 at 2:14 pm
Was wondering what you guys thought about the odds of CBDC being rushed before people can get their cash into physical, tangible assets due to all the banking turmoil.
1
Posted on 3/21/23 at 2:28 pm to Hussss
Never was any banking turmoil. Bad banks went down with bad practices. A couple more may fall but will be nothing like 2008. If they fall it wont be any major ones.
Posted on 3/21/23 at 2:38 pm to FLObserver
quote:
Never was any banking turmoil. Bad banks went down with bad practices. A couple more may fall but will be nothing like 2008. If they fall it wont be any major ones
Every bank can fail if there is a run.
The few that have gone under definitely had bad practices.
Higher interest rates and tighter underwriting practices force businesses to use more cash resources.
Any bank stuck with the "smell" of trouble can get dunked on.
These failures aren't likely. But you are dealing with human emotions/reactions. And for that reason, no bank can survive a run.
Posted on 3/21/23 at 3:04 pm to meansonny
You people have to quit watching the news man. This is one of the biggest, most blown up stories I’ve ever seen. The banking system is fine. Social media and the media in general created mass chaos for SVB. Had they not done this the bank could probably have made it.
$43 billion run on the bank thanks to social media. Just for reference purposes, the largest run in 2008 was $16 billion.
$43 billion run on the bank thanks to social media. Just for reference purposes, the largest run in 2008 was $16 billion.
Posted on 3/21/23 at 3:06 pm to Im4datigers
quote:
The banking system is fine.
This could be a golden bump soon.
Posted on 3/21/23 at 3:10 pm to Im4datigers
quote:
You people have to quit watching the news man. This is one of the biggest, most blown up stories I’ve ever seen. The banking system is fine. Social media and the media in general created mass chaos for SVB. Had they not done this the bank could probably have made it.
It's insane to me how badly people want to see things go up in smoke.
This post was edited on 3/21/23 at 3:11 pm
Posted on 3/21/23 at 3:15 pm to BenDover
quote:
This could be a golden bump soon.
25 year banker and poster since 2003. I will take a full time ban if more than 10 banks go under in the next three to six months.
Posted on 3/21/23 at 3:38 pm to Im4datigers
quote:
This is one of the biggest, most blown up stories I’ve ever seen
I can agree with that.
quote:
The banking system is fine
I can agree with that.
quote:
Social media and the media in general created mass chaos for SVB.
SVB did some stupid shite. But yes, I agree.
quote:
Had they not done this the bank could probably have made it.
Every bank is vulnerable to an irrational public. It is foolish to think otherwise. I agree with everything you have posted. But the banks are subject to the emotional responses from humans which are not always Dr. Spok.
quote:
$43 billion run on the bank thanks to social media
It can be worse at the next spot. People are that stupid.
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