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Big Trouble In Little Banks - Bailout Sparks Buying Panic In Bonds, Bitcoin, & Bullion
Posted on 3/14/23 at 8:56 am
Posted on 3/14/23 at 8:56 am
quote:
Big Trouble In Little Banks - Bailout Sparks Buying Panic In Bonds, Bitcoin, & Bullion
LINK
The Fed/TSY/FDIC stepped in and saved the world again last night... but nobody told regional banks, whose shares are down dramatically today...
Admittedly off the lows of the day, but all with multiple trading halts today. FRC, WAL, and MYFW are the highest default risk banks in the Russell 3000 Banks Subsector, according to Bloomberg.
But it's not just the small banks who are seeing default risk increase, all of the global majors are seeing CDS spreads rise.
And Credit Suisse CDS has never closed higher (and is now more than double the risk than at the peak of the financial crisis).
CDS:
8
Posted on 3/14/23 at 8:57 am to frequent flyer
Bitcoin lol
Posted on 3/14/23 at 8:58 am to frequent flyer
Posted on 3/14/23 at 8:58 am to frequent flyer
Probably smart to allocate a small portion of everyone's worth to bitcoin for the long term
Posted on 3/14/23 at 8:59 am to frequent flyer
This article is stupid. I'm stupid as well.
This post was edited on 3/14/23 at 9:00 am
Posted on 3/14/23 at 9:03 am to TigerTatorTots
quote:
Probably smart to allocate a small portion of everyone's worth to bitcoin for the long term
Maybe. Just need a hedge against currency failure.
This post was edited on 3/19/23 at 4:35 am
Posted on 3/14/23 at 9:06 am to frequent flyer
I don't see what we are looking at here.
Posted on 3/14/23 at 9:13 am to frequent flyer
quote:
just want it so I can barter for plane tickets to Mexico or something if we have to nope out of the USA for any reason.
Costa Rica is the best choice
Posted on 3/14/23 at 9:13 am to TigerTatorTots
quote:
Probably smart to allocate a small portion of everyone's worth to bitcoin for the long term
And what happens when the internet goes down or power is out? How will you access your fake internet money?
Posted on 3/14/23 at 9:24 am to frequent flyer
quote:
to Mexico
Iceland or Ireland
Posted on 3/14/23 at 9:26 am to TigerTatorTots
quote:
Probably smart to allocate a small portion of everyone's worth to bitcoin for the long term
translation:
"i have an investment in bitcoin and want other people to buy it so it goes up in value"
Posted on 3/14/23 at 10:39 am to frequent flyer
I've been in metals a little bit here and there for the past few years like a dumbass while some of you were making bank in crypto.
But I'm still not jumping into Bitcoin now. Probably stupid but I don't like the idea of using a digital currency in a 'break the glass' scenario.
These investments are not a big portion of my total portfolio, and they represent my hedge against the collapse of society. If I need them in hand to sell, I probably won't have an easy way to trade a digital currency. I can more easily barter silver eagles or (to a far lesser extent) 1 ounce gold bars from reputable mints if things really hit the fan.
But I'm still not jumping into Bitcoin now. Probably stupid but I don't like the idea of using a digital currency in a 'break the glass' scenario.
These investments are not a big portion of my total portfolio, and they represent my hedge against the collapse of society. If I need them in hand to sell, I probably won't have an easy way to trade a digital currency. I can more easily barter silver eagles or (to a far lesser extent) 1 ounce gold bars from reputable mints if things really hit the fan.
Posted on 3/14/23 at 10:53 am to dewster
I feel like we are still a year or two away from most people realizing Bitcoin is our only hedge against a Central Bank Digital Currency.
Posted on 3/14/23 at 11:09 am to frequent flyer
quote:
Bailout Sparks Buying Panic In Bonds, Bitcoin, & Bullion
So 2 of the 3 failed banks had Bitcoin overexposure and folks are buying
Posted on 3/14/23 at 11:17 am to jclem11
quote:
And what happens when the internet goes down or power is out? How will you access your fake internet money
How would you access your USD held at the bank for that matter?
Posted on 3/14/23 at 11:23 am to Shepherd88
quote:
How would you access your USD held at the bank for that matter?
Irrelevant to the question at hand. He posited bitcoin as an alternative to dirty fiat in this collapse scenario.
However, bitcoin has some serious issues as well and is not some magic bullet like buttcoiners think it is.
Posted on 3/14/23 at 2:42 pm to Cheese Grits
Probably hypothicated and leveraged.
Posted on 3/14/23 at 2:46 pm to TigerTatorTots
quote:
Probably smart to allocate a small portion of everyone's worth to bitcoin for the long term
I thought too much invested in crypto was one of the issues with the SVB collapse
Posted on 3/14/23 at 2:51 pm to jchamil
Bonds...not bitcoin.
"Last week, SVB suffered $1.8 billion in losses as it faced a liquidity crisis caused by souring investments in bonds those lost value as interest rates rose. The bank's share price fell 60% last week and the Federal Deposit Insurance Corporation (FDIC) stepped in on Friday to take over the bank's operations as depositors panicked and rushed to withdraw their money."
"Last week, SVB suffered $1.8 billion in losses as it faced a liquidity crisis caused by souring investments in bonds those lost value as interest rates rose. The bank's share price fell 60% last week and the Federal Deposit Insurance Corporation (FDIC) stepped in on Friday to take over the bank's operations as depositors panicked and rushed to withdraw their money."
Posted on 3/14/23 at 2:53 pm to frequent flyer
Small banks are going to be hurt by this.
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