It's been a couple of months for me, very busy and literally overwhelmed with events occurring, commentary on which I could add very little to. Sometimes I just read and shake me head in both wonder and utter disgust. And taking a little us/me time with the Khaleesi, Mother of Dragons.
Yes, that's a wine glass. Oncologists are supposed to counsel moderation of alcohol intake. Just not for us…
The topic of the weekend is the SVB collapse. FDIC? Forget it. Ninety eight-plus percent of the bank’s deposits are uninsured. Sure, there are some assets to liquidate but the initial attempt to find a buyer was met with a massive, collective middle finger
The same reaction came from the bank's depositors, who desperately tried to pull out their funds, exacerbating the crisis and engaging the regulators.
The Official Spin Machine has been in high gear this weekend, downplaying the bank’s significance and already calling for a bailout, the new American National Pastime…. Was it the 14th, 15th, 16th, 18th largest bank? It seems to continue dropping as the weekend drones on, but the Monday market opening looms
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fdic-ready-after-svb-financial-collapse-watch-these-bank-stocks/
https://www.msn.com/en-us/money/markets/us-stocks-futures-dip-as-svb-financial-extends-rout-payrolls-data-awaited/ar-AA18uett
How did this happen? LOTS of explanations out there, like this…
https://www.bloomberg.com/news/articles/2023-03-10/why-svb-was-hit-by-a-bank-run-and-where-it-could-lead-quicktake
But some, not in the mainstream, of course, are being brutally honest about it
https://www.theburningplatform.com/2023/03/12/the-collapse-of-svb-portends-real-dangers/#more-296645
And that's where today's title makes sense. These things, whether they be economic collapses, world wars or revolutions, never “just happen”. Always remember, “gradually, then suddenly”. The 800lb gorilla in the room that no one in Congress, the White House, the FDIC, SEC or legacy media will discuss is that this ENTIRE conflagration is the result of GOVERNMENTAL and private quasi-governmental (think Federal Reserve) action. It's not Biden’s fault, really, other than that he's been a useless piece of government furniture for almost FIVE DECADES (and never held an honest job in his entire worthless life); he's just a tool of more entrenched interests with deep, deep roots. Bush II (a pox on America, like his entire family) and Obama gave us the Great Financial Crisis, TARP and its mismanagement, with Quantitative Easing
https://youtu.be/oGIvw7T0GPI
that, without question, with Ben Bernanke’s oafish guidance, teed this all up. The origins could be traced, though, through permanent deficit spending, Nixon and the gold standard, Bretton Woods, FDR (although I prefer Frank the Syphilitic Cripple), to 1913, Woodrow Wilson, the Sixteenth Amendment and, ahem, the Federal Reserve. We're about to pay the price for 109 years of gross financial malfeasance, endless war and ideological schizophrenia.
Why does this matter? I mean, it's just ONE bank, right? Nossofast, padnuh…
https://www.zerohedge.com/markets/expect-mass-layoffs-real-world-impact-svbs-failure
The real fun starts tomorrow, kids.
With the abject morons in charge of our financial, monetary and foreign policy, we are being played like geriatric suckers on Hoverrounds at a Vegas gaming table
Get your preps organized, brethren. This could be a wild ride
Party on, Garth and oh, and don't get sick…
47 years a doctor. They don't let me touch anything sharp, I just think about things - but I'm a good thinker. Whenever I run into a former colleague still alive and working, the first question that comes up is, "how long until the collapse?" Laypeople, even ones who follow "healthcare issues", have no idea how close we are.
They'll call it a bail OUT, but we know it's functionally a bail IN