The blame game over SVB’s collapse is a diversion. The media have rounded up the usual suspects: Trump, greed, bad law, blah. blah, blah. When Captain Renault did that in Casablanca, he knew who the real culprits were. The media is not that bright.
Like a good soldier(including Trump), just say it: "Biden. He made government bonds worth less which has banks dropping like cockroaches in a Raid commercial."
Great summary overall, Don. I like to revert to history of successful people... The media has trashed Trump for seven years even though he presided over three of our most prosperous. This is why:
Gets me to thinking about something with regard to our current Resident at the White House and his entire Administration.
Say you were a diabolical organization made up of evil masterminds who wanted to rule the world, like, say the WEF for example.
So you cleverly - and illegally- put into positions of power your handpicked bunch of useful idiots to help usher in that maniacal dream.
Only, you come to realize, as events transpire, that these handpicked rubes were so utterly stupid, so incomprehensibly incompetent that they’ve literally F’d up the whole project, and now you are left - not with the world at your feet, but rather with a worldwide mess the likes of which history itself has not ever seen, and the most potentially devastating consequences imaginable!
Good summary... I have never felt unsafe in America before; aside from a few in congress(Gaetz, MTG, Jordan, Hawley, Paul, etc.) the UniParty has never been more incompetent and dangerous.
An addendum... Julie Kelly and Liz Sheld(Happy Hour With Julie and Liz, Ep. 110) had former FBI dude George Hill who stated(paraphrased) "Half of the employees are terrified of the American People and thought J6 was an actual takeover of the US."
Our government is run by unserious and dangerous people who have power.
On a positive note good People like you are paying attention!
Any chance of a digital Dollar has gone out the window ,too off the perch. They may try it, but there isn't support to had your bank account to the Government in such a overbearing way . They never think things through. I see the demise of Globalization eventually.
That writer nails it. What the left defines as presidential is one who is the product of the National Review-, Heritage Foundation-, American Enterprise Institute-style of the GOP possessed by the ghost of the late Bob Michel – you know, the kind of Republican that loses with honour, the kind that goes along to get along, the one that accepts its place as the Beta party, even if it holds a majority in either or both legislative bodies, and ESPECIALLY if it is in the White House.
Reagan, if he received the memo, had the good sense to toss it. Trump did the same. HW, and W, were all too willing to cooperate.
Well, there is just a bit more to this than what Don has written. Yes, Biden's kindling of inflation sure didn't help. But much of went wrong here is on about three players. One, SVB was not "conservatively" invested in a real sense. It was way overexposed to short term US bonds where the only volatility was going to be rising interest rates, and we've known since at least Feb 2021 the fed was going to raise rates. The bank knew this was coming, and ignored it. Two, company CFOs stupidly put all their assets in just a few places, and this is where Biden's bailout is wrong, because it is rewarding bad behavior by these companies. I get that you're worried about a steamroller impact of businesses going under if the depositors are not protected. But how about a 50% haircut for being stupid. Three, we have been moving towards a capital scarcity environment for some time now - beyond just higher fed rates. And this is what really killed SVP. The US capital market has been awash in money for two decades - essentially free money. This led to all sorts of risky and speculative behavior. And a willingness to bet way downstream for success. So, a bunch of tech firms who have never made money and who have burned through it like a drunken sailor on shore leave suddenly had VC backers saying I don't have anymore money for you. So, they began withdrawing what they had. Essentially, their unusual demand for money (which SVP should have known about a year ago was possible) forced SVP to sell off bonds at a huge loss to cover the withdrawals. And when they made some mention of this somewhat cryptically, being electronically connected as we are - and as the tech industry really is - word went out to get your money now. Run on the bank!
We are in an era of less capital and less employees. This won't be the first or last bank or business to fail in this new environment.
You write so even Warren or Schiff should be able to understand! Thanks again, Don. To quote Suzie, "Another great article. " The history you include helps a lot, too.
SVC, Halitosis, The Ukraine war, Global warming Global cooling Chinese Balloons , Male Pattern Baldness and every other form of misery on this country. Biden is responsible for nothing.
Mr. Surber, I read your article with a great deal of interest, so why oh why do you give any credence to a first class jackass like Liz Warren? I am not saying you supported or quoted her in a good light because, like Joe Biden himself, that is not possible. Both Biden and Warren have lied about every single thing in their lives.
When it was disclosed that Warren was paid to teach ONE law class $375,000 at Harvard Law School, do you remember what she did? I'll remind you. She went on to rail about the cost of a college education. Do you think she returned any of that money to Harvard a show of good faith? No, she didn't and she never will. Personally I was hoping someone in the media would have her students rate her ability as an instructor, but apparently the media could NOT find someone, anyone, to critique her.
Please, Mr. Surber, when you are quoting these absolute whores, make sure to bring up their past because that is always an indicator of their future behavior.
As far as what to invest in besides a bank, invest in gold and silver and if you do, make sure you take actual possession of it. Never settle for a written contract that you have an X amount of anything.
Mar 14, 2023·edited Mar 15, 2023Liked by Don Surber
Well, I guess it's o.k. to use Biden's name as the catch-all front for this mess. But plain common sense knows old Joe is too old to cut the mustard anymore. Joe Biden is a shriveled living thing, very nearly a corpse, re-animated by monstrous technologies and medicines. Joe Biden does not know where he is, what day it is, or who is President of The United States.
RE: this latest crisis: Can you really call it a crisis if that's what you planned? The cabal of communists and RINOs who run Biden and U.S. government are deadly serious about obviating the threat posed, not by Donald Trump, but by those hundreds of millions of people who are beginning to understand what Trump stands for in their lives. Those people must be crushed and prevented from acting against the monster Biden cabal. If the mayhem planned by Biden's handlers bears its bitter fruit, the suspended elections of November 2024 will be the least of our worries.
EDIT: I should say also that those hundreds of millions include ordinary people in Europe, England, Ireland, Scotland, Wales, and other places where English is the first language.
I feel we are seeing an all out attack on capitalism and democracy ,It is like foxes weasels and rats guarding the hen house.The foxes are pulling the strings while hidden so the weasels and rats can do the dirty work.This entire government is a puppet show for the ages.
Equivocal just means it's not easy to know what the other person actually means by what is being said. Words rarely have just one possible meaning, especially when people play political games with the meaning of ordinary words. The words male and female have equivocal meanings these days only because certain people want them to be equivocal.
A great way to start a bloodless revolution would be to, somehow, convince every parent who has a child in a federally financed public school to take them out of school and never allow them to return. These monsters are destroying prepubescent children through the public school system.
Another great article and a nice palate cleanser. I just got done reading an article on The Free Press about how we did this by panicking on Twitter and causing a bank run and therefore we need some "brakes" on social media (brakes = censorship, even though the author is disingenuous enough not to admit it) to slow the contagion of panic (https://www.thefp.com/p/why-bank-runs-happenand-what-we-can). Of course, this comes a day after it was revealed that Mark Kelly (D) was pushing the idea of censorship as a way to combat bank runs.
That tablet article is right on. The only mistake I see in it is the common mistake of continuing to refer to the people behind these evils as Democrats. Compared to President Andrew Jackson, the founder of the Democrat Party, these devils are not Democrats in any way, shape or form. They are communists--godless heathen communists.
Good analysis. I saw this coming when my financial adviser asked a few months ago if I wanted to move some of my retirement accounts into gubmint bonds to avoid risk. I told him no, the way things are going gubmint bonds are a poor investment, at least at that time. He called yesterday to tell me "good call".
I don't know how long the FDIC insured account limit has been $250,000, but as long as I can remember, which is too damn long. Seems to me that ought to be adjusted to keep up with inflation.
Generally speaking, an area surrounding the southern SF Bay area (Palo Alto in the northern part of the valley, and including the communities of Cupertino, Mountain View, Sunnyvale, Milpitas, and the more northern suburbs of San Jose, in the south).
NotFromTex - JK was quoting Mad Max’s use of the word Silicone Valley instead of Silicon Valley. Being from California, Mad Max should know the difference.
Silicone Valley is the area between most Hollywood Actresses boobs.
Like a good soldier(including Trump), just say it: "Biden. He made government bonds worth less which has banks dropping like cockroaches in a Raid commercial."
Great summary overall, Don. I like to revert to history of successful people... The media has trashed Trump for seven years even though he presided over three of our most prosperous. This is why:
https://www.forbes.com/sites/realspin/2016/08/19/the-day-i-went-head-to-head-with-donald-trump/?sh=4fc2bd8458be
Great article!
Gets me to thinking about something with regard to our current Resident at the White House and his entire Administration.
Say you were a diabolical organization made up of evil masterminds who wanted to rule the world, like, say the WEF for example.
So you cleverly - and illegally- put into positions of power your handpicked bunch of useful idiots to help usher in that maniacal dream.
Only, you come to realize, as events transpire, that these handpicked rubes were so utterly stupid, so incomprehensibly incompetent that they’ve literally F’d up the whole project, and now you are left - not with the world at your feet, but rather with a worldwide mess the likes of which history itself has not ever seen, and the most potentially devastating consequences imaginable!
I think that’s where we are right now.
Good summary... I have never felt unsafe in America before; aside from a few in congress(Gaetz, MTG, Jordan, Hawley, Paul, etc.) the UniParty has never been more incompetent and dangerous.
An addendum... Julie Kelly and Liz Sheld(Happy Hour With Julie and Liz, Ep. 110) had former FBI dude George Hill who stated(paraphrased) "Half of the employees are terrified of the American People and thought J6 was an actual takeover of the US."
Our government is run by unserious and dangerous people who have power.
On a positive note good People like you are paying attention!
Any chance of a digital Dollar has gone out the window ,too off the perch. They may try it, but there isn't support to had your bank account to the Government in such a overbearing way . They never think things through. I see the demise of Globalization eventually.
Man I hope so! Globalization is the rot in our society.
From your mouth to God's ear!
That writer nails it. What the left defines as presidential is one who is the product of the National Review-, Heritage Foundation-, American Enterprise Institute-style of the GOP possessed by the ghost of the late Bob Michel – you know, the kind of Republican that loses with honour, the kind that goes along to get along, the one that accepts its place as the Beta party, even if it holds a majority in either or both legislative bodies, and ESPECIALLY if it is in the White House.
Reagan, if he received the memo, had the good sense to toss it. Trump did the same. HW, and W, were all too willing to cooperate.
Well said.
Thank you for the link. Very good article
Your welcome. I don't hate things, but our media deserves it. What they've done to gaslight my fellow Americans is evil.
Please share it with EVERYONE you know.
Thanks for the link.
Please share it with everyone you know, sir.
Thanks for the link.
Send it to everyone you know. I am tired of the government and media(but I repeat myself) gaslighting our great People about Trump.
Well, there is just a bit more to this than what Don has written. Yes, Biden's kindling of inflation sure didn't help. But much of went wrong here is on about three players. One, SVB was not "conservatively" invested in a real sense. It was way overexposed to short term US bonds where the only volatility was going to be rising interest rates, and we've known since at least Feb 2021 the fed was going to raise rates. The bank knew this was coming, and ignored it. Two, company CFOs stupidly put all their assets in just a few places, and this is where Biden's bailout is wrong, because it is rewarding bad behavior by these companies. I get that you're worried about a steamroller impact of businesses going under if the depositors are not protected. But how about a 50% haircut for being stupid. Three, we have been moving towards a capital scarcity environment for some time now - beyond just higher fed rates. And this is what really killed SVP. The US capital market has been awash in money for two decades - essentially free money. This led to all sorts of risky and speculative behavior. And a willingness to bet way downstream for success. So, a bunch of tech firms who have never made money and who have burned through it like a drunken sailor on shore leave suddenly had VC backers saying I don't have anymore money for you. So, they began withdrawing what they had. Essentially, their unusual demand for money (which SVP should have known about a year ago was possible) forced SVP to sell off bonds at a huge loss to cover the withdrawals. And when they made some mention of this somewhat cryptically, being electronically connected as we are - and as the tech industry really is - word went out to get your money now. Run on the bank!
We are in an era of less capital and less employees. This won't be the first or last bank or business to fail in this new environment.
Most enlightening ~ thanks!
Thanks for adding, Jim.
You write so even Warren or Schiff should be able to understand! Thanks again, Don. To quote Suzie, "Another great article. " The history you include helps a lot, too.
Trump is responsible for:
SVC, Halitosis, The Ukraine war, Global warming Global cooling Chinese Balloons , Male Pattern Baldness and every other form of misery on this country. Biden is responsible for nothing.
He and the Dems can't do anything because-Trump.
I need my coffee.
Can’t you just hear Rush, he’d be mimicking Carville saying “the BOND mahkit, the BOND mahkit!“
Rush would also bring back his Bawny Fwank parodies.
Biden is the Von Hindenburg of the New American Weimar Republic. In the end it will not benefit any of his friends.
What value did Signature Bank list for Barney Frank on its asset ledger?
…and the Chief Administrative Officer for Silicon Valley Bank was formerly the CFO at Lehman Brothers.
Can’t make this stuff up!
Fuck Joe Biden. Let’s go Brandon.
And the horse he rode in on!!!
And the lackey leading the donkey. You do know it's a donkey, right? And it's the far left leading it to the kool-aid!
Mr. Surber, I read your article with a great deal of interest, so why oh why do you give any credence to a first class jackass like Liz Warren? I am not saying you supported or quoted her in a good light because, like Joe Biden himself, that is not possible. Both Biden and Warren have lied about every single thing in their lives.
When it was disclosed that Warren was paid to teach ONE law class $375,000 at Harvard Law School, do you remember what she did? I'll remind you. She went on to rail about the cost of a college education. Do you think she returned any of that money to Harvard a show of good faith? No, she didn't and she never will. Personally I was hoping someone in the media would have her students rate her ability as an instructor, but apparently the media could NOT find someone, anyone, to critique her.
Please, Mr. Surber, when you are quoting these absolute whores, make sure to bring up their past because that is always an indicator of their future behavior.
As far as what to invest in besides a bank, invest in gold and silver and if you do, make sure you take actual possession of it. Never settle for a written contract that you have an X amount of anything.
Don has trashed Liawatha for years.
Well, I guess it's o.k. to use Biden's name as the catch-all front for this mess. But plain common sense knows old Joe is too old to cut the mustard anymore. Joe Biden is a shriveled living thing, very nearly a corpse, re-animated by monstrous technologies and medicines. Joe Biden does not know where he is, what day it is, or who is President of The United States.
RE: this latest crisis: Can you really call it a crisis if that's what you planned? The cabal of communists and RINOs who run Biden and U.S. government are deadly serious about obviating the threat posed, not by Donald Trump, but by those hundreds of millions of people who are beginning to understand what Trump stands for in their lives. Those people must be crushed and prevented from acting against the monster Biden cabal. If the mayhem planned by Biden's handlers bears its bitter fruit, the suspended elections of November 2024 will be the least of our worries.
EDIT: I should say also that those hundreds of millions include ordinary people in Europe, England, Ireland, Scotland, Wales, and other places where English is the first language.
I feel we are seeing an all out attack on capitalism and democracy ,It is like foxes weasels and rats guarding the hen house.The foxes are pulling the strings while hidden so the weasels and rats can do the dirty work.This entire government is a puppet show for the ages.
And it's not a kids' puppet show either.
"The main Democrat talking point is that the bailout is not a bailout."
Well, of course it isn't.
That's what Democrats do – they piss on your boots and tell you it's raining.
Language has gotten a lot more equivocal since the post-liberal democrat party came into existence.
By, 'equivocal,' do you mean to say, meaningless?
Equivocal just means it's not easy to know what the other person actually means by what is being said. Words rarely have just one possible meaning, especially when people play political games with the meaning of ordinary words. The words male and female have equivocal meanings these days only because certain people want them to be equivocal.
A great way to start a bloodless revolution would be to, somehow, convince every parent who has a child in a federally financed public school to take them out of school and never allow them to return. These monsters are destroying prepubescent children through the public school system.
Another great article and a nice palate cleanser. I just got done reading an article on The Free Press about how we did this by panicking on Twitter and causing a bank run and therefore we need some "brakes" on social media (brakes = censorship, even though the author is disingenuous enough not to admit it) to slow the contagion of panic (https://www.thefp.com/p/why-bank-runs-happenand-what-we-can). Of course, this comes a day after it was revealed that Mark Kelly (D) was pushing the idea of censorship as a way to combat bank runs.
Mark Kelly (spits on floor) has long been a China First communist. https://youtu.be/5HL78Al_Erg
He's really doing some serious damage to the reputation and prestige of what being an astronaut represents.
https://www.youtube.com/watch?v=tl5xgKqvK7M
From 00:01:00 to 00:01:22
Can anyone tell me why I instinctively reach for hand sanitizer, when leaving a bank or a federal government building? Asking for a friend....
Most interesting….
https://www.tabletmag.com/sections/israel-middle-east/articles/israel-tech-resistance-svb
That tablet article is right on. The only mistake I see in it is the common mistake of continuing to refer to the people behind these evils as Democrats. Compared to President Andrew Jackson, the founder of the Democrat Party, these devils are not Democrats in any way, shape or form. They are communists--godless heathen communists.
Good analysis. I saw this coming when my financial adviser asked a few months ago if I wanted to move some of my retirement accounts into gubmint bonds to avoid risk. I told him no, the way things are going gubmint bonds are a poor investment, at least at that time. He called yesterday to tell me "good call".
I don't know how long the FDIC insured account limit has been $250,000, but as long as I can remember, which is too damn long. Seems to me that ought to be adjusted to keep up with inflation.
I want to know where silicone valley is? Mad Maxine keeps talking about it. I think it may be her congressional district
Generally speaking, an area surrounding the southern SF Bay area (Palo Alto in the northern part of the valley, and including the communities of Cupertino, Mountain View, Sunnyvale, Milpitas, and the more northern suburbs of San Jose, in the south).
NotFromTex - JK was quoting Mad Max’s use of the word Silicone Valley instead of Silicon Valley. Being from California, Mad Max should know the difference.
Silicone Valley is the area between most Hollywood Actresses boobs.
Thanks for clearing that up for everyone. Didn’t realize I didn’t to add “sarc” for this gang.
Well, I'm not exactly the sharpest bulb...
Ohhhhh...gotcha! Thx!