US bank Silvergate Capital goes into liquidation

A word that is only reserved for extreme panic  is now being used relating to the second regional bank failure in the US, it is now CONTAIGEN.  Rising rates is causing problems banks have to hold extra cash for delinquencies..  It does not bode well for 2023, it is how the last financial crises started.  


Wall Street drops on February jobs data, Silicon Valley Bank failure
www.afr.com/markets/equity-markets/wall-street-drops-as-silicon-valley-bank-seized-by-regulators-20230311-p5cr8w

300 Billion Reasons Why SVB Contagion Is Spreading To The Broader Banking System
www.zerohedge.com/markets/300-billion-reasons-why-svb-contagion-spreading-broader-banking-system


"Expect Mass Layoffs..." - The Real-World Impact Of SVB's Failure
www.zerohedge.com/markets/expect-mass-layoffs-real-world-impact-svbs-failure

"2023 will be a year of job losses, starvation, rioting in the streets. Financial markets reacted overnight with more losses. "

And don't forget more jabs, got to control the sheeples.







One example of high vaultage is the San Andreas Vault.

The company my mrs works for can’t keep their IT tech staff, they are all leaving for much higher paid jobs elsewhere. Still seems to be strong demand for IT skills in Sydney.

I reckon the Gov might step in and bail out SVB.

Third bank in as many days now collapsed.  With options to withdraw money electronically, bank runs can happen very quickly. US Gov/Federal reserve now stepping in for a major bailout.  Will it be enough will it prevent contagion??

US Signature Bank shut down by regulators, days after SVB collapses
www.news.com.au/finance/business/banking/us-signature-bank-shut-down-by-regulators-days-after-svb-collapses/news-story/a31b2ad2158151bf91acf811da1be7e6

A third US bank has toppled in as many days as shockwaves have been sent around the world.

On Monday morning Australian time, New York-based Signature Bank collapsed, after a massive stock plunge.

US regulators said state authorities had to intervene and shut down the bank.

Signature Bank was a traditional banking institution and was federally insured but it was well known for being a primary lender for digital assets, including cryptocurrency exchanges.

I feel like I'm the only person who wasn't too concerned about these crypto banks going under. They're based on a system that is inherently (at this stage) highly volatile. Signature Bank doesn't really phase me that much because a) they were quite small in the grand scheme of banking and b) I would never rely on a business that rebuilds itself as a 'primary lender' in a non-existent currency. And by that I simply mean I can't carry crypto in my hand so I don't really see it as a valuable commodity. Will I be left behind because of that? Probably. But at this stage until the market gains some reliable stability I'm staying out of the pool.

They moved into a volatile industry and couldn't for whatever reason keep up. Obviously that means their traditional banking customers lose out but the reality is that that's the chance you take when you keep your business with a 'company' that is comfortable changing its primary focus to a digital environment. There's risk involved. And I don't think even the crypto fankids would disagree with that.

When we start to see smaller traditional banks spud in that's when the hair on the back of my neck will go up. Because we won't be told about larger banks going into struggle town at all, that'd just create panic. They'll go under when there's nothing else that can be done and the rats have already fled the ship.

But in this case smaller crypto banks will make the news just like these have because it's not enough to panic the masses but enough to put the messaging out that its all the people's fault if they lose all their money. I don't like that attitude. I'm not comfortable with the risk profile but that doesn't mean that I think that people who ARE comfortable with it, deserve to lose their life savings. But we're going to be told that by MSM so that they can say "See! We told you. It's all your fault you're broke and homeless because YOU risked everything". Nah. Rubbish. Those people just took a chance on something in the hopes of making their lives better. Or even because they truly believed in crypto as a concept. I don't think people deserve punishment for that!

So yeah. Smaller traditional banks spudding in and making the news? That's when (at least for me) the blood is in the water and we're only months away from another GFC style situation. We're due for another stock market crash in the coming weeks according to a couple of my favourite stock market analysts so we're already tightening our belts.

I’m seriously thinking about spending another $2k on precious metal, in this case a taipan .223 pump action rifle.

better than crypto or money in the bank

Only if I can have some of my 7.62 x 39 back.

Don't discount the effect of a .22 cal hollow point at close range, the first one might not stop something but the next 9 will ! Without disturbing too many others, and cheap, easy to obtain still.

I have a bit of crypto, just to get the hang of how it all works. Its quite simple, but the potential for disaster is immense. Like shares, you cant eat a crypto wallet.






“If you do not read the newspapers you are uninformed. If you do read the newspapers you are misinformed”. Mark Twain