Tourble with Credit Suisse. 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!!!
US Banks In Panic Mode! | BAILOUT CRISIS COMING... The SVB collapse has spread a contagion now affecting regional banks in the United States. Regional banks are seeing a crazy stock plunge as investors are pulling out their money. But it gets worse. The SVB bailouts have set up a bailout crisis that could spike inflation higher if more banks collapse. The higher interest rates go, the more pain the banks will feel. Here's what you must know!
Silicon Valley Bank Quietly Funneled Money to Establishment Republicans and Democrats... SVB and its leadership were donors to the Silicon Valley Bank PAC, which would then help spread cash to politicians in California and well beyond. The list of recipients seems somewhat balanced between Republicans and Democrats… until one looks a little closer and notices that those with (R) after their names all voted in favor of impeaching then-President Donald Trump in 2021.
JP Morgan Chase: US Fed's emergency loan can inject $2 trn in banking system to ease liquidity crunch... Silicon Valley collapse: JPMorgan Chase & Co in a note said that the Federal Reserve’s emergency loan support, Bank Term Funding Program, can put in as much as $2 trillion of funds into the US banking system to help the struggling banks and ease the liquidity crunch.
First Republic Bank drops 35% at the open as reports the bank is exploring options, including a sale....
WATCH: Jeffrey Epstein and the Silicon Valley Bank connection....
X22 EP. 3020A - [CB] BELIEVES THEY HAVE THE UPPER HAND BY NATIONALIZING THE BANKS,IT HAS BEGUN...
Credit Suisse shares sink as global fears about banks grow... Battered shares of Credit Suisse lost more than one-quarter of their value Wednesday, hitting a record low after its biggest shareholder — the Saudi National Bank — told news outlets that it would not inject more money into the Swiss bank beset by problems long before the failure of two U.S. lenders. The turmoil prompted an automatic pause in trading of Credit Suisse's shares on the Swiss market and sent shares of other European banks plunging by as much as double digits. That fanned new fears about the health of financial institutions following the collapse of Silicon Valley Bank and Signature Bank in the United States in recent days.
BlackRock’s Fink Says SVB Failure Shows Cracks in Finance System... BlackRock Inc. Chief Executive Officer Larry Fink said the banking crisis could worsen beyond the failure of Silicon Valley Bank, worrying aloud about cracks in the financial system that formed during more than a decade of easy money and low interest rates. “Are the dominoes starting to fall?” said Fink, chairman of the world’s largest asset manager, in a letter on Wednesday. “It’s too early to know how widespread the damage is.”
European stocks slide 2.5% as Credit Suisse craters and banks briefly halted from trade: Live updates... European stock markets were sharply lower Wednesday, with banking stocks in deep negative territory amid the global Silicon Valley Bank fallout and more bad news for Credit Suisse.
Bank Share Trading Halted Again as Fears of Collapse Deepen ... Anumber of banks had trading in their shares halted on Tuesday following a similar stoppage on Monday, amid concerns of larger economic issues stemming from the collapse of the Silicon Valley Bank. On Monday, Newsweek published a list of banks that had trading of shares halted. According to the Nasdaq Trader website, these banks were placed under a Volatility Trading Pause. According to Investopedia, trading halts are short stoppages across numerous exchanges. "Trading halts are typically applied ahead of a news announcement, to correct an order imbalance, or as a result of a large and abrupt change in the share price," Investopedia states.
Full List of Bank Shares That Halted Trading as Panic Spreads... On Monday morning, trading in the shares of a number of banks was halted as panic spread following the collapse of Silicon Valley Bank. The Nasdaq Trader website published a list of bank shares that were placed under a temporary regulatory halt. Newsweek has listed them below. Each bank share had been hit with a volatility trading pause, a kind of circuit-breaker that automatically halts trading for a short time when a share's price swings too rapidly. At the time of writing, some of these shares had plunged by more than 60 percent.
Yet another blow to UK's struggling High Street as Barclays announces it will shut 14 more branches: Latest round of closures means more than 100 local banks are shutting for good this year - so is yours on the list?... Banking giant Barclays will shut 14 more branches in a fresh blow for the UK's struggling high streets. The company will close 11 sites across England, two in Wales and one in Scotland
LeumiTech helped Israeli startups move $1 billion out of SVB... The collapse of Silicon Valley Bank (SVB) has created an opportunity for banks in Israel to help companies that held deposits and credit with the U.S. bank. LeumiTech, Bank Leumi's banking arm focused on the high-tech industry, has announced that over the past few days, its teams have been able to help clients transfer to Israel approximately $1 billion dollars that was held in the collapsed bank. They also announced that they would increase the amount of credit available to high-tech companies that have lost access to their credit lines and are desperate for liquidity following the SVB debacle.
The collapse of Silicon Valley Bank foreshadows a bigger reckoning for the tech industry... In the days since the stunning collapse of Silicon Valley Bank, I've seen the tech world point a lot of fingers. I've seen venture-capital titans and tech gurus blame the regulators, the banking system, the Federal Reserve, Joe Biden, the bank's communications team, and anyone else within shouting distance of this mess. But I have yet to see any of these grown-ups take some of the blame for themselves. Silicon Valley Bank imploded in part because it was a repository for the riskiest behaviors of the industry it serviced. Its growth was supercharged by tech's clubby, insular nature, and its operation depended on a rising tide that was always sure to go out. A financial institution should be aware of economic cycles — but SVB's management, like so many in the Valley before it, blew off the realities of the market until it was too late. SVB helped fuel the tech bubble, and the tech bubble helped fuel SVB — but now that's all blown up.
California Gov. Gavin Newsom failed to publicly disclose his SVB ties while lobbying for a bailout... California Gov. Gavin Newsom lobbied the White House and the Department of the Treasury about the pending bailout of Silicon Valley Bank, even as three of his private wineries had apparently been among the bank's clients, according to a Tuesday report by Ken Klippenstein of the Intercept. According to Klippenstein's reporting, Newsom's personal relationship with SVB went beyond the wineries. One anonymous former employee who handled Newsom's finances told Klippenstein that Newsom "maintained personal accounts at SVB for years."
Credit Suisse shares tank over 30% after Saudi backer rules out further assistance... Shares of Credit Suisse on Wednesday plunged to a fresh all-time low for the second consecutive day after a top investor of the embattled Swiss bank said it would not be able to provide any more cash due to regulatory restrictions. Trading in the bank’s plummeting shares was halted several times throughout the morning as it fell below 2 Swiss francs ($2.17) for the first time.
"We know we're about to see bank consolidation — big banks eating little banks. And that means less competition. More consolidation means more government control. So what are they going to do with that control? Well, all things being equal, if people don't start making a lot of noise and exerting an awful lot of pressure, it'll mean digital currency."
History of financial shocks shows this banking tumult could be a buying opportunity...
"Now we're at the endgame because the US dollar is in all corners of the world; the debt that's been created using something called foreign-dollar-denominated debt, and that's choking the credit system. That's why Russia, China, and Saudi Arabia are all meeting to delink from the dollar. Basically, we're at the end of the US Federal Reserve Currency as the world reserve currency. And what you're going to see is our government and the powers that be in this country tried to save that. So whatever we see going on is a fight for who's going to control the world reserve currency status going forward."
Nino's Corner: [The Ghost] SITUATION UPDATE- More [DS] Panic Moves Coming...
Signature Bank execs starred in cringey Broadway-style musical sketch video... Executives at the doomed Signature Bank produced a Broadway-style musical video to launch the firm in the early 2000s — and its song branded the bank “the stupidest idea I ever heard” and even quipped that it could “diminish and fail.” Clips of the musical number — now dripping with irony after regulators stepped in over the weekend and took control of the New York-based firm in a bid to stave off a US banking crisis — resurfaced online and went viral this week.
Black Swan Event Banking Collapse... It is only wise to have a month’s supply of food, water, cash and essential items on hand.
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
Germany shuts down ‘world’s largest’ crypto launderer... German authorities said Wednesday they had taken down the “world’s largest” money laundering site for cryptocurrency, seizing millions of euros’ worth of bitcoin in the process. Law enforcement officials secured around 44 million euros ($46 million) of the digital currency in the move against online platform ChipMixer, the Federal Criminal Police Office (BKA) and Frankfurt prosecutor’s office said in a statement. Working together with authorities in the United States and Europol, investigators also seized the servers belonging to the “darknet” site. ChipMixer’s operators are suspected of “commercial money laundering and running a criminal trading platform on the internet”, the German authorities said. The site is said to have accepted criminally obtained bitcoin to pay it out again after it had undergone “mixing” to conceal its origin. ChipMixer promised users “complete anonymity”, according to investigators. The service, in operation since the middle of 2017, is estimated to have laundered “around 154,000 bitcoin” worth about 2.8 billion euros, they said.
Unified Payment Interface (UPI): Definition and How It Works... A Unified Payment Interface (UPI) is a smartphone application that allows users to transfer money between bank accounts. It is a single-window mobile payment system developed by the National Payments Corporation of India (NPCI). It eliminates the need to enter bank details or other sensitive information each time a customer initiates a transaction. The Unified Payment Interface is a real-time payment system. It is designed to enable peer-to-peer inter-bank transfers through a single two-click factor authentication process. The interface is regulated by the Reserve Bank of India (RBI), India's central bank. It works by transferring money between two bank accounts along with a mobile platform. The system is said to be a safe and secure method of transferring money between two parties and eliminates the need to transact with physical cash or through a bank. The pilot system was launched in India on April 11, 2016. Banks across the country started to upload their interface in August 2016.
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.