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-> Household Management
-> Finances
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amother
Aster
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 Sun, Mar 12 2023, 8:25 pm
| ra_mom wrote: | https://www.cnbc.com/2023/03/12/stock-market-futures-open-to-close-news.html
The Fed announced that it will lend up to $25 billion to banks as a backstop, so that the panick of withdrawals doesn't destroy otherwise solvent banks.
In addition, all Silicon Valley Bank depositors will have access to their money starting Monday, according to a joint statement from the Treasury Department, Federal Reserve and the FDIC (not just those with deposits of under $250k).
This has calmed people down from running to small banks tomorrow morning. |
I don't think it'll stop people from changing their activities and where they hold funds. many don't trust the powers that be. gold and silver are about to skyrocket.
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amother
RosePink
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Sun, Mar 12 2023, 9:33 pm
| amother Aster wrote: | | I don't think it'll stop people from changing their activities and where they hold funds. many don't trust the powers that be. gold and silver are about to skyrocket. |
I completely agree. I think the bailout is necessary because SVB is the first bank to fail and if they don't get bailed out EVERYONE with over 250K will be liquidating their money from small banks literally tomorrow.
That being said, is this really likely to work? Meaning if you have more than 250K in a small bank you're probably taking it out anyway because there's no guarantee there will be a bailout next timed if others take their money out before you then you will be holding the bag hoping for a bailout of theirs a failure. So ultimately small banks are in trouble here.
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amother
Tan
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Sun, Mar 12 2023, 9:50 pm
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We BH have less than 250 per each of us. So we are ok I hope. Nothing we can do now. It’s always good to keep less than 250 per account in case this happens. We have three banks for this reason.
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amother
NeonOrange
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Mon, Mar 13 2023, 9:09 am
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Anyone with money in first republic bank?
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amother
NeonOrange
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Mon, Mar 13 2023, 9:10 am
| amother RosePink wrote: | I completely agree. I think the bailout is necessary because SVB is the first bank to fail and if they don't get bailed out EVERYONE with over 250K will be liquidating their money from small banks literally tomorrow.
That being said, is this really likely to work? Meaning if you have more than 250K in a small bank you're probably taking it out anyway because there's no guarantee there will be a bailout next timed if others take their money out before you then you will be holding the bag hoping for a bailout of theirs a failure. So ultimately small banks are in trouble here. |
The bailout is necessary because things are so bad in all banks and markets that if they don't bail them out it'll all fall down like dominoes.
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amother
NeonOrange
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Mon, Mar 13 2023, 9:30 am
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amother
RosePink
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Mon, Mar 13 2023, 10:11 am
| amother NeonOrange wrote: | | The bailout is necessary because things are so bad in all banks and markets that if they don't bail them out it'll all fall down like dominoes. |
The flip side is that the Fed is bailing out the banks by printing money. That's the exact inflation problem they've been fighting for the past year.
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amother
NeonOrange
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Mon, Mar 13 2023, 10:45 am
| amother RosePink wrote: | | The flip side is that the Fed is bailing out the banks by printing money. That's the exact inflation problem they've been fighting for the past year. |
It's so much bigger than that. This is going on since the last depression. At this point, they're stuck whichever way they handle it. People are playing with money that doesn't even exist. There's no way to really fix it at this point I think.
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amother
NeonOrange
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Mon, Mar 20 2023, 1:24 pm
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amother
NeonOrange
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Mon, May 01 2023, 11:44 am
And... there it went.
Here to point out the accuracy to all the naysayers and people assuming I'm a doomsdayer and not grounded in reality.
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