Skullduggery happening' https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html U.S. regulators on Sunday shut down New York-based Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis. “We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening.
Yes. They canned it. Business as usual. Financial regulators said Sunday night depositors of the failed Silicon Valley Bank will have access to all of their money starting Monday, March 13, while announcing new facilities to backstop deposit withdrawals across the banking system amid fears of contagion following SVB's shock failure last week. In a joint statement, the heads of the Federal Reserve, Treasury Department, and FDIC said: "After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors." "Depositors will have access to all of their money starting Monday, March 13," the statement added. "No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer." https://finance.yahoo.com/news/us-g...eposits-money-available-monday-223546372.html
US government has guaranteed all depositors funds . The US government is taking emergency steps designed to prevent more instability among banks after the historic failure of Silicon Valley Bank, assuring clients of the failed financial institution they will be able to recover all of their money quickly. https://www.abc.net.au/news/2023-03...alley-bank-clients-will-get-refunds/102087244
Quite. The logical 'human behavior' consequence would be for every other struggling bank to announce a failure come Monday.
If the majority of banks do what SVB did and not hedge their books, then they're at risk. But they don't.
And it was more than 90% made up of businesses, celebrities, and even some royalties who had a lot more than the $250k guarantee in their accounts, therefore the government rush to save them. If it was made up of mainly mom & pop battlers they would have thrown them under the bus without a second thought.
You are right but you did say exactly, so here is what I found. 06/08/20 2,861.71 92.006 per gram https://www.bullion-rates.com/gold/AUD/2020-8-history.htm I watch it everyday too, but you know us old farts we just keep it to ourselves but inside we are very happy with our stash. As I write 13/03/2023 10:42 PM Kitco ask: $2,846.74 AUD
FT100 down 1.7%.....US yet to open but remember is the US equity markets take a big enough dive, margin calls will ramp up and investors may dump gold to cover the calls....
Everything they are doing is great for the stackers and will be inflationary as hell. Any real corrections or failures are being averted for the time being and max manipulation continues.
This article I thought explained what happened at SVB very well. Also explains why more could fall . https://www.abc.net.au/news/2023-03-13/why-the-collapse-of-silicon-valley-bank-matters/102090508
