Biden: "Investors are not protected."
Money grab by deep state? Lehman Brothers connection... Legacy Media: No Worries / Alternative Media: Deep State Money Grab / Social Media: Get Out Now!!!
Biggest Banks Are Likely Safe From SVB Fallout, Blankfein Says... Biden says US banking system safe, will seek stronger regulation. Traders price Fed year-end rate cuts; peak ECB rate estimates decline. Government bonds across the world rally in rush for havens. S&P 500 bounces back as bank stocks pare earlier losses
Trading temporarily HALTED in dozens of banks after shares fell by up to 75% when market opened at 9.30am - moments after Biden said 'US banking is safe' - as contagion spreads to heavyweights Wells Fargo, Bank of America and JP Morgan... Trading was temporarily halted in dozens of regional banks this morning as shares fell by up to 75 percent when the market opened after Joe Biden claimed 'US banking is safe.' Major US banks were also hit as contagion fears spread through the sector with Wells Fargo plummeting 7.5 percent, Bank of America falling 7.4 percent, Citigroup plunging 5.8 percent and JP Morgan down 2.7 percent. Regional bank Western Alliance saw its stock price plunge by three quarters as the opening bell sounded on Wall Street, while shares in First Republic dived 67 percent and PacWest by more than 35 percent. Trading circuit breakers were swiftly implemented to protect the market from rampant volatility.
Benjamin Fulford Report: March madness begins as Rockefeller/Biden horror show implodes... Don’t be fooled by the Silicon Valley Bank (SVB) sideshow, what is really happening is the Rockefeller/Biden horror show is imploding. Let’s be clear, so-called President Joe Biden, Janet Yellen, the Rockefellers etc. are all criminals who are about to face justice...
Silicon Valley Bank exec was Lehman Brothers CFO prior to 2008 collapse... Silicon Valley Bank (SVB) executive, Jospeph Gentile, was a former executive of the Lehman Brothers' Global Investment Bank prior to the bank's public collapse in 2008. Prior to joining SVB as Chief Administrative Officer, Gentile worked as Chief Financial Officer at Lehman Brothers' Global Investment Bank. Gentile left Lehman in 2007, just one year before it went bankrupt in 2008.
Derivatives: Types, Considerations, and Pros and Cons... The term derivative refers to a type of financial contract whose value is dependent on an underlying asset, group of assets, or benchmark. A derivative is set between two or more parties that can trade on an exchange or over-the-counter (OTC). These contracts can be used to trade any number of assets and carry their own risks. Prices for derivatives derive from fluctuations in the underlying asset. These financial securities are commonly used to access certain markets and may be traded to hedge against risk. Derivatives can be used to either mitigate risk (hedging) or assume risk with the expectation of commensurate reward (speculation). Derivatives can move risk (and the accompanying rewards) from the risk-averse to the risk seekers.
Banks ranked by derivatives... JPMorgan Chase, Goldman Sachs, Citibank, Bank of America, Wells Fargo, State Street, HSBC, BNYMellon, US Bank, PNC, ...
There’s a deeper story to Silicon Valley Bank’s failure. What can we learn from it?... Financial deregulation lead to the crash in 2008 and it could again in 2023. It’s time to make banking boring again.
Bank Secrecy Act (BSA)... The OCC prescribes regulations, conducts supervisory activities and, when necessary, takes enforcement actions to ensure that national banks have the necessary controls in place and provide the requisite notices to law enforcement to deter and detect money laundering, terrorist financing and other criminal acts and the misuse of our nation's financial institutions.
Signature Bank Investors... Vanguard, Blackrock, Capital Ressearch, T. Rowe Price, Fidelity, and more
First Republic Bank stock plunges 60% as regional bank fears continue ... First Republic Bank shares plunged by about 60% in premarket trading on Monday even after the regional lender announced steps to shore up its balance sheet. Shares of other regional banks and financial firms are also stumbling, signaling continued nervousness despite the aggressive federal response announced Sunday night to protect depositors at Silicon Valley Bank and Signature Bank.
Stock market news today: Stocks, bond yields, bank stocks fall on SVB fallout...
U.S. moves to protect all deposits at Silicon Valley Bank in bid to stem wider fallout... The U.S. Treasury, the Federal Reserve and the Federal Deposit Insurance Corp. said the government would back Silicon Valley Bank deposits beyond the federally insured ceiling of $250,000. The decision addressed concerns around the fate of uninsured funds held at the Santa Clara, California-based bank — the country’s 16th largest — which had $209 billion in assets and more than $175 billion in deposits. “Depositors will have access to all of their money starting Monday, March 13,” the agencies said in a joint statement Sunday evening. “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.” Senior management of SVB will be removed, the statement said. Hours after the federal intervention Sunday, the British bank HSBC said it would buy the SVB’s British assets for just £1 ($1.21), in a deal facilitated by the British government and the central Bank of England. As of Friday, SVB U.K. had loans worth around £5.5 billion ($6.66 billion) and deposits of around £6.7 billion ($8.11 billion).
What Is a Special Purpose Vehicle (SPV)?... A special purpose vehicle, also called a special purpose entity (SPE), is a subsidiary created by a parent company to isolate financial risk. Its legal status as a separate company makes its obligations secure even if the parent company goes bankrupt. For this reason, a special purpose vehicle is sometimes called a bankruptcy-remote entity. If accounting loopholes are exploited, these vehicles can become a financially devastating way to hide company debt, as seen in 2001 in the Enron scandal.
President Biden Remarks on Banking and the Economy: "...investors will not be protected... They knowingly took a risk... That's how capitalism works."... President Biden addressed government steps over the weekend to prevent a banking crisis following the collapse of Silicon Valley Bank. The president argued the “quick action” by the Federal Reserve, Treasury and Federal Deposit Insurance Corporation (FDIC) means “Americans can have confidence that the banking system is safe.” He also said any losses would “not be borne by the taxpayers.” Instead, fees paid by banks into a government insurance fund would cover any losses.
Bank Crash Has Begun! Sell-Offs & Bank Runs Begin to Bring in CBDCs & One World Currency — Sunday Night Live... Owen Shroyer breaks down how the media is hyping the Silicon Valley Bank collapse to stir the American people into a bank run panic to tank the financial system in order to introduce Central Bank Digital Currencies.
INFOWARS LIVE - 3/11/23: Alex Jones & General Flynn... General Flynn discusses how the media is hyping the Silicon Valley Bank collapse to stir the American people into a bank run panic to tank the financial system in order to introduce Central Bank Digital Currencies
March 8th, 2022: Withdraw your money from banks immediately. March 14th: Take all of your money out of your bank accounds - Second request
Financial Markets and Money Warfare... Rothschilds go private... Banks move to wealth management
Bitcoin rallies to $24,000 even as regulators shut down Signature Bank: CNBC Crypto World...
Credit Suisse Clearing March 24th... Fixed Income Clearing Corporation - MBSD
Perth Mint: $9 billion Australian gold bar purity scandal... Australia’s government-owned maker of gold bullion bars kept quiet damning evidence the gold it was selling was less than pure.
Circle calls on Congress to urgently pass stablecoin legislation amid SVB crisis... Stablecoin issuer Circle is calling on Congress to urgently pass legislation to regulate stablecoins in the wake of Silicon Valley Bank's failure, which resulted in market turmoil that briefly caused Circle's USDC (USDC-USD) stablecoin to break its peg to the dollar. "I've been uploading dollars to the internet since 2019, and since 2019 there was this ongoing persistent conversation about risk and we've been met with complete inaction," Circle's chief strategy officer and head of global policy Dante Disparte told Yahoo Finance in an interview.
Swift Completes Sandbox Testing of API-Based CBDC Project... Swift said that 18 central and commercial banks found “clear potential and value” in its API-based Central Bank Digital Currency (CBDC) connector. Following a 12-week period of collaborative sandbox testing, almost 5,000 transactions were simulated between two different blockchain networks and with existing fiat-based payment systems. Swift said in a statement that its “participants expressed strong support for the solution’s continued development, noting that it enabled seamless exchange of CBDCs, even those built on different platforms”.
U.S. moves to protect all deposits at Silicon Valley Bank in bid to stem wider fallout... The U.S. Treasury, the Federal Reserve and the Federal Deposit Insurance Corp. said the government would back Silicon Valley Bank deposits beyond the federally insured ceiling of $250,000. The decision addressed concerns around the fate of uninsured funds held at the Santa Clara, California-based bank — the country’s 16th largest — which had $209 billion in assets and more than $175 billion in deposits. “Depositors will have access to all of their money starting Monday, March 13,” the agencies said in a joint statement Sunday evening. “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.” Senior management of SVB will be removed, the statement said. Hours after the federal intervention Sunday, the British bank HSBC said it would buy the SVB’s British assets for just £1 ($1.21), in a deal facilitated by the British government and the central Bank of England. As of Friday,
SVB U.K. had loans worth around £5.5 billion ($6.66 billion) and deposits of around £6.7 billion ($8.11 billion).
Joint Statement by Treasury, Federal Reserve, and FDIC - SVB and Signature Bank... Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.
That sounds about right...
3-12-2023: Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors... To support American businesses and households, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy. The Federal Reserve is prepared to address any liquidity pressures that may arise.