Australian Politics Forum - Wait...What???

Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Wait...What??? Mar 15^th, 2023 at 9:08am https://www.cnbc.com/2023/03/10/silicon-valley-bank-collapse-how-it-happened.htm... SECOND BIGGEST BANK IN THE US COLLAPSES IN 48 HRS?? 😳😳😳😳😳😳 Something isn’t right.
Back to top	If I let myself be bought then I am no longer free. HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415) IP Logged

Lisa Jones

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Re: Wait...What???
Reply #1 - Mar 15^th, 2023 at 9:13am

• The company’s downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet.

• “This was a hysteria-induced bank run caused by VCs,” Ryan Falvey, a fintech investor of Restive Ventures, told CNBC.

• All told, customers withdrew a staggering $42 billion of deposits by the end of Thursday, according to a California regulatory filing.

• Now, those who remained with SVB face an uncertain timeline for retrieving their money.

Some observations :

1. When a big US bank goes into receivership ... guess what that means for the rest of the globe?

2. I reckon the key shareholders who own that entity orchestrated this panic so as to make a profit.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Jasin Gold Member Offline Posts: 56770 Gender:	Re: Wait...What??? Reply #2 - Mar 15^th, 2023 at 9:17am People don't like being 'scammed' by Banks. Simple as that. Commonwealth Bank is 'real' lucky to still be here in Australia. The main reason is that the Commonwealth Bank was designed to look after 'Big Businesses' in favour and not little 'piggybankers' who were the ones who cried "wee wee wee" all the way home each year.
Back to top	AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY. IP Logged

Jasin Gold Member Offline Posts: 56770 Gender:	Re: Wait...What??? Reply #3 - Mar 15^th, 2023 at 9:20am I wonder if the Democrats 'extracted' their $% like Hillary extracted from the Health Industry? I mean, Biden did spend 'more than double' of what Trump spent for his Election campaign. People were asking "Where did he get the money for that?! Mercantile Credits?"
Back to top	AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY. IP Logged

Lisa Jones

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Re: Wait...What???
Reply #4 - Mar 15^th, 2023 at 9:25am

Jasin wrote on Mar 15^th, 2023 at 9:20am:

I wonder if the Democrats 'extracted' their $% like Hillary extracted from the Health Industry?

I mean, Biden did spend 'more than double' of what Trump spent for his Election campaign.
People were asking "Where did he get the money for that?! Mercantile Credits?" Roll Eyes

Politics - an opportunity to organise the laundering of next level corruption.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Dnarever

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Re: Wait...What???
Reply #5 - Mar 15^th, 2023 at 9:32am

They literally fell on their own petard.

They had helped to finance the legally corrupt payments that resulted in the the industry being deregulated by the Trump government that led to their own failure. They apparently donated around $500 Million (I read somewhere) to the politicians that voted for the legislation to deregulate the industry.

The removal of the Dodd-Frank act removed the tests that should have exposed the problem that this bank had. SVB had lobbied and donated (paid) towards this decision.

Talk about shooting yourself in the foot, in this case it was more like shooting themselves in the head.

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Lisa Jones

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Re: Wait...What???
Reply #6 - Mar 15^th, 2023 at 9:45am

Lisa Jones wrote on Mar 15^th, 2023 at 9:13am:

• The company’s downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet.

• “This was a hysteria-induced bank run caused by VCs,” Ryan Falvey, a fintech investor of Restive Ventures, told CNBC.

• All told, customers withdrew a staggering $42 billion of deposits by the end of Thursday, according to a California regulatory filing.

• Now, those who remained with SVB face an uncertain timeline for retrieving their money.

Some observations :

1. When a big US bank goes into receivership ... guess what that means for the rest of the globe?

2. I reckon the key shareholders who own that entity orchestrated this panic so as to make a profit.

See that highlighted bit? I think I might need to clarify what I meant by that a tad more.

Major Shareholders (like entities controlled by Musk et al) make ungodly revolting slabs of money by exploiting this simple strategy.

1. Invest early in a new technology.
2. Market its potential.
3. As the media hype boosts the market, they sell at the top afterwards admitting the product might not be that good after all.

Oh and they rely on global tax havens to pay SFA tax on the billions of dollars they make out of such strategies.

What they then do is use some of that money TO BUY POLITICAL POWER (essentially bribes/favours through donations to ALL major political parties in the US, UK, Australia etc). The politicians of these political parties are in effect active stakeholders in directing future policies which benefit their benefactors as well as themselves. This is why any so called “reforms” which are introduced by either Labor OR Liberal (I’m trying to bring the topic back home)...will never disadvantage either political party’s politicians.

Example : LABOR (yes LABOR) PM Albo. Take a closer look at him! He’s a text-book capitalist with an exemplary good private school top Uni educated background and is backed up financially by a solid investment property portfolio. He’s living the life of a celebrity these days by jet setting the globe in smart expensive suits spending billions of (our) dollars on anything/everything. There’s no way he’ll introduce anything which will hurt his/his mate’s Super or property portfolio.

2 current examples of billions of dollars (think LOANS because we don’t even have this money ffs) which Albo is spending on behalf of our children, unborn grandchildren and unborn great grandchildren who will need to pay it all off!

• Billions on a referendum
• Billions on submarines

Meantime WE ie the taxpayers are not only expected to fund the whole rort .... we’re left fighting EACH OTHER for what? Crumbs!

In fact that’s what we all do here on OzPol every single day! We fight each other.

Divide and Conquer 👈 a proven and effective strategy to keep large quantities of people under control.

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« Last Edit: Mar 15^th, 2023 at 9:57am by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Frank

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Re: Wait...What???
Reply #7 - Mar 15^th, 2023 at 3:28pm

Lisa Jones wrote on Mar 15^th, 2023 at 9:08am:

https://www.cnbc.com/2023/03/10/silicon-valley-bank-collapse-how-it-happened.htm...

SECOND BIGGEST BANK IN THE US COLLAPSES IN 48 HRS??

😳😳😳😳😳😳

Something isn’t right.

Investor Relieved He Pulled Money Out Of Crypto And Put It In The Bank For Safekeeping

Leadership: Biden Calls On Banks To Stop Collapsing

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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Pedro Curevo

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Re: Wait...What???
Reply #8 - Mar 15^th, 2023 at 5:24pm

Actually Trump spent more on the 2020 election campaign...$1.96 billion as against Biden $1.69 billion...https://www.npr.org/2020/05/20/858347477/money-tracker-how-much-trump-and-biden-have-raised-in-the-2020-election

One word 'Robo Debt' and Dutton calling on the NDIS to pay for Morrisons Subs, shows where the coalition are at with the elite and their rort's with franking credits and negative gearing, millions in super, and tax havens.

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Brian Ross Gold Member Offline Representative of me Posts: 46311	Re: Wait...What??? Reply #9 - Mar 15^th, 2023 at 5:26pm The major difference between Australian and American banks is Australian banks are Government guarantee'ed. They literally cannot go broke because of a rush on the banks.
Back to top	It seems that I have upset a Moderator and are forbidden from using posting to the general forum now. So much for Freedom of Speech. Tsk, tsk, tsk... IP Logged

Lisa Jones

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Re: Wait...What???
Reply #10 - Mar 16^th, 2023 at 7:22am

Brian Ross wrote on Mar 15^th, 2023 at 5:26pm:

The major difference between Australian and American banks is Australian banks are Government guarantee'ed. They literally cannot go broke because of a rush on the banks. Roll Eyes

👆 Anyone else agree with this claim?

Sorry but I don’t trust ANY govt nowadays. I’m thinking of slowly reducing what cash we have sitting in our bank accounts. And transferring that cash “elsewhere”.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones

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Re: Wait...What???
Reply #11 - Mar 16^th, 2023 at 7:26am

Frank wrote on Mar 15^th, 2023 at 3:28pm:

Lisa Jones wrote on Mar 15^th, 2023 at 9:08am:

https://www.cnbc.com/2023/03/10/silicon-valley-bank-collapse-how-it-happened.htm...

SECOND BIGGEST BANK IN THE US COLLAPSES IN 48 HRS??

😳😳😳😳😳😳

Something isn’t right.

Investor Relieved He Pulled Money Out Of Crypto And Put It In The Bank For Safekeeping

Leadership: Biden Calls On Banks To Stop Collapsing

Yeah I know lol. Biden is an idiot. Americans don’t know wtf they’re doing. Their country is bleeding dry with TRILLIANS of dollars owing in debt 🥺😞😳

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones

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Sydney
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Re: Wait...What???
Reply #12 - Mar 16^th, 2023 at 8:54am

Lisa Jones wrote on Mar 16^th, 2023 at 7:22am:

Brian Ross wrote on Mar 15^th, 2023 at 5:26pm:

The major difference between Australian and American banks is Australian banks are Government guarantee'ed. They literally cannot go broke because of a rush on the banks. Roll Eyes

👆 Anyone else agree with this claim?

Sorry but I don’t trust ANY govt nowadays. I’m thinking of slowly reducing what cash we have sitting in our bank accounts. And transferring that cash “elsewhere”.

The latest on the SVB bank collapse 👇

https://www.forbes.com/sites/saradorn/2023/03/15/senate-democrats-who-voted-for-...

Silicon Valley Bank (SVB) closed Friday and handed control of its assets to the Federal Deposit Insurance Corporation following a run on deposits experts attributed to A RISE IN INTEREST RATES that hurt the value of the banks’ investments in Treasury bonds and mortgage-backed securities.

On Sunday, the FDIC shuttered the New York-based Signature Bank after it also saw a mass withdrawal of deposits in what was largely considered a byproduct of the SVB collapse, though Signature had faced hardships due to its HEAVY RELIANCE ON THE STRUGGLING CRYPTOCURRENCY INDUSTRY. The FDIC has vowed to make all SVB and Signature depositors whole, even if their deposits exceed the $250,000 threshold for FDIC insurance.

Recall this section of my earlier post in this very topic?

Major Shareholders (like entities controlled by Musk et al) make ungodly revolting slabs of money by exploiting this simple strategy.

1. Invest early in a new technology.
2. Market its potential.
3. As the media hype boosts the market, they sell at the top afterwards admitting the product might not be that good after all.

Oh and they rely on global tax havens to pay SFA tax on the billions of dollars they make out of such strategies.

So once again ... Musk et al have played their game and made a shItload of money out of this collapse leaving everyone else out of money.

It’s all tantamount to institutionalised/organised theft/crime.

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« Last Edit: Mar 16^th, 2023 at 9:14am by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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