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Silicon Valley Bank Closed by Regulators


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  • Platinum Contributing Member
19 hours ago, Mainecat said:

Many of the tech companies with huge accounts invested in Bitcoin and lost billions. 

:lol: Sooooo it wasn't just for terrorists then.....huh

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What's sad is that many Americans will believe this crap about no cost to the public. If a "company" has to pay more for goods or sevices rendered who in they're right mind doesn't think that they will pass it on to consumers?

 

Americans can have confidence that the banking system is safe. Your deposits will be there when you need them," Biden said from the White House.

Biden said "no losses" would be born by taxpayers, and the money would come from the fees that banks pay into the Deposit Insurance Fund.

Edited by J. Jackson
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On 3/12/2023 at 8:42 AM, Mainecat said:

You stupid fuck. Spend 10 minutes to read why.

 

Fuck you 

Your fucking party sucks and should be wiped off the planet

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16 hours ago, SnowRider said:

@ArcticCrushernever let a good conspiracy go to waste :lol: 

Poor lil guy. :lol:

 

How many hoaxes did you fall for.....

  • Russian collusion
  • Trump called neo-nazis “fine people”
  • Jussie Smollett
  • Bubba Wallace garage pull
  • Covington kids
  • Governor Whitmer kidnapping plot
  • Kavanaugh rape
  • Trump pee tape
  • COVID lab leak was a conspiracy theory
  • Border agents whipped migrants
  • Trump saved nuclear secrets at Mar-a-Lago
  • Steele Dossier
  • Russian bounties on US soldiers in Afghanistan
  • Trump said drinking bleach would fight COVID
  • Muslim travel ban
  • Hunter Biden’s laptop was Russian disinformation
  • Andrew Cuomo best COVID leadership
  • Trump built cages for migrant kids
  • “Austere religious scholar”
  • Trump overfed Koi fish in Japan
  • Build Back Better will pay for itself
  • Trump tax cuts benefited only the rich
  • Cloth masks prevent COVID
  • If you get vaccinated you won’t catch COVID
  • SUV killed parade marchers
  • Trump used tear gas to clear a crowd for a bible photo
  • “Don’t Say Gay” was in a bill
  • Putin price hike
  • Ivermectin is a horse dewormer and not for humans
  • “Mostly peaceful” protests
  • Trump overpowered secret service for wheel of “The Beast”
  • Officer Sicknick was murdered by protesters
  • January 6th was an insurrection
  • BYU students hurled racist insults at Duke volleyball player
  • And don’t forget “democracy is under threat…”
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3 hours ago, Crnr2Crnr said:

feel free to elaborate on this statement at your leisure 

:news:

OK.  Simple really.  TL,DR: Inflation and countermeasures have downstream impacts...

__________________________________________________________________________________________________

Biden kept the free money tap wide open during COVID.  Started under Trump and continued and expanded under Biden.  He should have shut off the tap way earlier but he didn't want to do something unpopular.

Sooooo, inflation.  Money was already cheap as hell before COVID, then we added a bunch more of it artificially to the economy.  Combine that with idiotic lockdown-induced supply shortages and scarcity and you have a double whammy of explosive inflation if you don't do something to adjust.

Sooo... raise rates and keep raising them.  But what this does is fuck over banks and others who buy into things like treasury bonds.  Banks end up losing big on bond portfolios while at the same time, depositors start to withdraw $ from banks to put $ into higher-earning securities and other investment vehicles.  Another double whammy.

Trump started it.  Biden cranked it up.  Good lesson for next time there's something like this.  Don't just start printing and throwing out money like beads at Mardi Gras.  It's bad business.

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1 minute ago, Matt said:

OK.  Simple really.  TL,DR: Inflation and countermeasures have downstream impacts...

__________________________________________________________________________________________________

Biden kept the free money tap wide open during COVID.  Started under Trump and continued and expanded under Biden.  He should have shut off the tap way earlier but he didn't want to do something unpopular.

Sooooo, inflation.  Money was already cheap as hell before COVID, then we added a bunch more of it artificially to the economy.  Combine that with idiotic lockdown-induced supply shortages and scarcity and you have a double whammy of explosive inflation if you don't do something to adjust.

Sooo... raise rates and keep raising them.  But what this does is fuck over banks and others who buy into things like treasury bonds.  Banks end up losing big on bond portfolios while at the same time, depositors start to withdraw $ from banks to put $ into higher-earning securities and other investment vehicles.  Another double whammy.

Trump started it.  Biden cranked it up.  Good lesson for next time there's something like this.  Don't just start printing and throwing out money like beads at Mardi Gras.  It's bad business.

excellent reply, nice to see someone with a brain in here who's not a victim for a change.   :thumbsup:

so what parallels can you see in the economy, the amount of debt, housing markets between the Bush/Obama administration periods and the Trump/Biden periods?  

conspicuous consumption played a massive role in inflation, along with corporate greed.  we can alter the amount of consumption but the biggest corporations in the country aren't about to roll back their prices anytime soon, are they? 

we're in troubles waters... playing politics and finger pointing at the lowest common denominators can't fix this place we're heading. 

 

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It's funny we keep going through this shit, because the same people here keep saying the same things.  You just simply can't keep spending and printing more and more money.   SIMPLE, but there are a few here that are just too dumb or that just don't care because they are getting there "free" money and they just plain don't want to have to work for it.

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Despite all the bitching, the current interest rates aren’t at historically high levels. They are about average. But with the feds pumping QE for so many years everyone now thinks the current interest rates are high. This had to happen. The party is over. There’s going to be suffering and in the process all kinds of finger pointing. Bottom line is to keep your debt load low and spending in check. 

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  • Platinum Contributing Member
10 minutes ago, racer254 said:

It's funny we keep going through this shit, because the same people here keep saying the same things.  You just simply can't keep spending and printing more and more money.   SIMPLE, but there are a few here that are just too dumb or that just don't care because they are getting there "free" money and they just plain don't want to have to work for it.

Who here is getting “free” money?

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:lol:

 

Trump has gotten the last laugh in his battle against a ‘Woke’ bank that closed his account in the aftermath of the 2020 election. Signature Bank is now finding itself closed. Signature Bank of New York was seized by regulators on Sunday evening, the second failure of a regional bank in about 48 hours.

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  • Platinum Contributing Member
14 minutes ago, racer254 said:

So if you were  a Teamster and worked and earned a pension that was mismanaged through no fault of your own you would turn down the help and forego your pension that you earned? BTW are any Teamsters here that this applies to or are you just throwing it out there to backup your stupid comment?

BTW 36 billion out of 1.9 trillion…what about the other 1 trillion 864 billion? 

Edited by Jimmy Snacks
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  • Platinum Contributing Member
32 minutes ago, Jimmy Snacks said:

So if you were  a Teamster and worked and earned a pension that was mismanaged through no fault of your own you would turn down the help and forego your pension that you earned? BTW are any Teamsters here that this applies to or are you just throwing it out there to backup your stupid comment?

BTW 36 billion out of 1.9 trillion…what about the other 1 trillion 864 billion? 

Not that Im a fan of bailouts , but by law that pension fund has to be insured , by the US government.

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1 hour ago, Jimmy Snacks said:

So if you were  a Teamster and worked and earned a pension that was mismanaged through no fault of your own you would turn down the help and forego your pension that you earned? BTW are any Teamsters here that this applies to or are you just throwing it out there to backup your stupid comment?

BTW 36 billion out of 1.9 trillion…what about the other 1 trillion 864 billion? 

Central States pension fund has been a piece of shit since the days of Jimmy Hoffa. Nowhere in the country was a UPS retirement fund so underfunded....  keeping in mind UPS contributed what the union and UPS agreed to.

 

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6 minutes ago, Snake said:

Central States pension fund has been a piece of shit since the days of Jimmy Hoffa. Nowhere in the country was a UPS retirement fund so underfunded....  keeping in mind UPS contributed what the union and UPS agreed to.

 

I agree but using the 36 billion given to the fund as an example of members here “wanting free money” was stupid even for racer.

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