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Started By
Message
re: Why Signature Bank was seized this weekend in the 3rd biggest bank failure in US history
Posted on 3/13/23 at 2:57 pm to Oilfieldbiology
Posted on 3/13/23 at 2:57 pm to Oilfieldbiology
quote:
The problem is that most bank investments are set up for a very long run, so if you need to cash them out in the short term, it's going to create problems.
So basically banks are using statistics to hold just enough of its customer’s money on hand to provide physical currency upon demand. It’s not gambling on people not needing it, but it’s close.
Banks typically hold plenty of cash on hand to meet any needs customers may have, furthermore - bond portfolios are typically structured in a way that nearly 45% of cashflows are back withing 3 years...that is down to around 30% right now
the thing about their bond portfolios is most are in agency backed collateral where they can borrow from the fhlb or the fed w/ a very small haircut...plenty of access to funds...only issue w/ that is once you get wholesale funding north of 20% it is looked at very poorly by analyst and regulators
0
Posted on 3/13/23 at 2:59 pm to frequent flyer
quote:
So what happens if we all just say “f it” and go get our money out of the banks and stuff it under our mattresses?
You can get your money and put it in your mattress if you happen to be one of the first 10% of people that try to make withdrawals. The other 90% get nothing but fairy dust and unicorn farts.
Fractional banking's entire premise is that no more than 10% of depositors will ever want their cash at the same time...
Posted on 3/13/23 at 3:05 pm to Klondikekajun
There are always runs and they always collapse. Repeated cycle of modern banking. It's what they're designed to do. Depressions are always transfers of wealth from the people to the elite. Money itself is the tool of sneaking away physical wealth. A bank collapse is their harvest, and it's inevitable.
Posted on 3/13/23 at 3:08 pm to Dirk Dawgler
Well, way out here on a farm in the sticks of middle America I have been hearing for 10 days to two weeks that the banking industry was going to have severe problems by early April. Info sourced from bank insider so it must be common scuttlebutt in the industry. Why is anybody surprised? Because it happened a couple of weeks sooner than they expected?
Can you imagine what happens during the planting season if commerce is locked up? How many farm loan agreements will be honored and how may agricultural operations will fail for lack of funding?
Can you imagine what happens during the planting season if commerce is locked up? How many farm loan agreements will be honored and how may agricultural operations will fail for lack of funding?
Posted on 3/13/23 at 3:11 pm to rhar61
quote:
and that rule he added that prevented the biden admin from changing anything for the last 26 months
How dare they?
Riiiiiiight b/c people like Manchin and Sinema totally would have sided w/Biden to do anything that would have taken money from their corporate donors. Sure sure sure.
Posted on 3/13/23 at 3:49 pm to Dr RC
quote:
Riiiiiiight b/c people like Manchin and Sinema totally would have sided w/Biden to do anything that would have taken money from their corporate donors. Sure sure sure.
If Biden ever had a good policy and wasn't proposing untenable outrageous budgets they just might.
Posted on 3/13/23 at 4:13 pm to Dr RC
quote:
Riiiiiiight b/c people like Manchin and Sinema totally would have sided w/Biden to do anything that would have taken money from their corporate donors. Sure sure sure.
If it was a big deal, they would have tried. Certainly walked back a ton of other stuff.
This post was edited on 3/13/23 at 4:19 pm
Posted on 3/13/23 at 4:19 pm to nicholastiger
quote:
it's trump's fault
Posted on 3/13/23 at 4:29 pm to frequent flyer
Crypto and tech startups. 
Posted on 3/13/23 at 5:47 pm to Pax Regis
quote:No, but you... you... you're thinking
So what happens if we all just say “f it” and go get our money out of the banks and stuff it under our mattresses?
I guess we quickly find out that US monetary policy is the biggest pyramid scheme of all.
of this place all wrong. As if I had
the money back in a safe. The money's
not here. Your money's in Joe's
house right next to yours. And in the
Kennedy house, and Mrs. Macklin's
house, and a hundred others. Why,
you're lending them the money to
build, and then, they're going to
pay it back to you as best they can.
Now what are you going to do?
Foreclose on them?
Posted on 3/13/23 at 6:14 pm to Salviati
quote:
No, but you... you... you're thinking of this place all wrong
It would have been very different if Mr. Potter was a Commie and Pottersville was in debt for $30T to the Chinese. He would jump.
Posted on 3/13/23 at 6:28 pm to frequent flyer
Funny that basically the three largest crypto friendly banks are closed now. Including the two largest on/off ramps for crypto now as well..
Silvergate Exchange Network (SEN) was used by many exchanges throughout the space
Coindesk Silvergate Exchange Network Shut Down
Coindesk on Signet
Silvergate Exchange Network (SEN) was used by many exchanges throughout the space
Coindesk Silvergate Exchange Network Shut Down
quote:
SEN is a 24/7 instant settlement service the bank's clients could use to conduct transactions between each other at any time, including nights and weekends. The bank counted a number of major crypto firms as its clients for the service, including Binance.US, Kraken, Gemini and ErisX (prior to its acquisition by Cboe).
Coindesk on Signet
quote:
Signature Bank, another crypto-friendly bank based in New York, offers a program called Signet, launched in 2019 and using blockchain technology to allow for real-time settlements. It is the only other banking alternative to SEN that allows for instant U.S. dollar transfers to exchanges – as of now.
This post was edited on 3/13/23 at 6:29 pm
Posted on 3/15/23 at 5:11 pm to LSUFanHouston
I wasn’t clear. I apologize for that. The client that she spoke with had an investor that was funding his payroll with his own personal funds. Not the particular client she was talking to.
As of yesterday, a lot of her clients who were banking with SVB were moving over to Mercury Bank.
As of yesterday, a lot of her clients who were banking with SVB were moving over to Mercury Bank.
Posted on 3/15/23 at 5:20 pm to theRealJesseD
quote:
Bawney Fwank
adult lisp = undeveloped brain.
This is the guy who hushed and shamed the guy who tried ringing the bell, Sen Richard Baker. Despite the crash somehow ole fudge-packin' Barndog is still worth over $2M net worth.
Posted on 3/15/23 at 6:13 pm to frequent flyer
Go Woke
&
Go Broke
&
Go Broke
Posted on 3/15/23 at 6:43 pm to member12
Peter Zeihan
While the banks don’t invest in tech and crypto, their clients did. This is a Cliff Notes version of SVB.
While the banks don’t invest in tech and crypto, their clients did. This is a Cliff Notes version of SVB.
Posted on 3/15/23 at 7:05 pm to Pax Regis
quote:
So what happens if we all just say “f it” and go get our money out of the banks and stuff it under our mattresses?
Not long afterwards, those federal reserve notes wouldn't be worth the paper they're printed on.
Posted on 3/15/23 at 7:09 pm to frequent flyer
US DEBT will be 50 TRILLION before we know it.....
Posted on 3/15/23 at 7:11 pm to UltimaParadox
Funny thing is just wait once this is all over and see how the government fixes it. It’s going to be with crypto and the USDC. That’s the whole plan and has been for a long time. It’s solves the liquidity prob and gives them control.
Posted on 3/15/23 at 8:23 pm to Smelder
quote:
It’s going to be with crypto and the USDC
Lol not a chance. You are probably meaning CBDC, and no it won't be on the "Blockchain".
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