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Silicon Valley Bank collapses after members make run, Other banks to follow?

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posted on Mar, 14 2023 @ 06:57 PM
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a reply to: DBCowboy

To better align with your reply I will amend my post to read we shouldn't pay for 'west banks'. You're golan like the change.



posted on Mar, 14 2023 @ 07:00 PM
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originally posted by: AugustusMasonicus
a reply to: DBCowboy

To better align with your reply I will amend my post to read we shouldn't pay for 'west banks'. You're golan like the change.


Yasir, I agree.




posted on Mar, 14 2023 @ 07:02 PM
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a reply to: DBCowboy

Thanks, israeli nice that you agree with me.



posted on Mar, 14 2023 @ 07:11 PM
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Been doing some research into this and here is what I have found:

September 2019 the massive QE printing of money begins, pre pandemic

February 2020 Fed lifts restrictions on fractional banking reserve requirements of 10% to 0%.

Many small and medium sized banks take advantage of the unlimited fractional banking

Pandemic happens --- QE totals 12 Trillion, or more

Fast forward to the SVB collapse, shockwave hit all banks caught with their pants down below 10% fractional reserve liquidity.

Last known FDIC financial report is Q4 2022, December 31, 2022 with $128 Billion in liquidity

SVB deposits are right at 174 Billion in total....

Bail out happens with yet unknown funding we are told came from new program for stressed banks?

The next FDIC financial report comes out 55 days after Q1 2023, which would be right about May 15

Next big surprise: FDIC is bankrupt, and central bank ushers in CBDC, forced on everyone.



This was well thought out by the criminal cartel that makes up the Federal Reserve Bank. They had planned all along to bankrupt the FDIC. I'm certain of that. It might be bankrupt right now?



posted on Mar, 14 2023 @ 07:44 PM
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originally posted by: AugustusMasonicus
No, because I'm neither of the things I mentioned. It's a tool which, if used properly, can give you ample rewards for paying on time.


Well, see.... That makes you smarter than the average bear, too. Thanks again for the help.

I just worry about when they stop giving ample rewards. What will be next?



posted on Mar, 14 2023 @ 07:46 PM
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originally posted by: TrulyColorBlind
I just worry about when they stop giving ample rewards. What will be next?


People will switch to a credit card that does. There's a word for that in the industry, it's called 'churn', and it happens even when the rewards are good so people can claim multiple high value rewards.



posted on Mar, 14 2023 @ 07:53 PM
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originally posted by: AugustusMasonicus
Are you telling me that you're completely oblivious to the fact that there are co-branded cards that offer rewards (cash back, airline miles, hotel points, etc) for using your card?


I knew about those things, but I can't help but wondering, why are they giving away free money and airline points? How can they afford to do that? They can't keep doing that forever, can they? In your opinion, can they keep doing that forever, and if not, what happens next? (And when I say "forever," I don't mean for eternity, obviously.) I have to think they're only doing those things to get every last person hooked on credit cards and then they're going to pull the rug out from everyone.



posted on Mar, 14 2023 @ 07:57 PM
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originally posted by: AugustusMasonicus
People will switch to a credit card that does. There's a word for that in the industry, it's called 'churn', and it happens even when the rewards are good so people can claim multiple high value rewards.


Thanks for the info. It kind of sounds like when people switch banks just because the new bank is offering a new toaster or television or a set of coolers as a reward for creating a new account.



posted on Mar, 14 2023 @ 07:57 PM
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a reply to: TrulyColorBlind

The miles/points the issuers purchase from the airlines or hospitality chains are deeply discounted, they cost far less than when the same companies try to sell them to their existing customers so the money spent is easily recouped in interest on balances. So long as people continue to carry balances this is a very profitable business model for issuing banks.

As for signing everyone up, the four major brands in the US target different demographics and there is also constantly new people being introduced to their first credit cards as they become old enough to obtain one.



posted on Mar, 14 2023 @ 07:58 PM
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originally posted by: TrulyColorBlind
Thanks for the info. It kind of sounds like when people switch banks just because the new bank is offering a new toaster or television or a set of coolers as a reward for creating a new account.


It's similar but the loyalty is typically to an airline or chain so you can add to your totals although some people are brand agnostic in this regards and will sign up for every card they can get.



posted on Mar, 14 2023 @ 08:09 PM
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Credit Suisse recently saw its stock drop to a record-low price level.
Investor Robert Kiyosaki predicted on "Cavuto: Coast to Coast" Monday that Credit Suisse was "the next bank to go … because the bond market is crashing." He also noted he "called Lehman Brothers years ago."
For 2022, Credit Suisse posted net revenues of 14.92 billion Swiss francs, a 34% year-over-year decrease. Its net loss, meanwhile, widened from 1.65 billion Swiss francs to 7.29 billion, according to the bank’s annual report.

The bank reported Tuesday that "certain material weaknesses in our internal controls over financial reporting" had been detected, leading management to describe those controls as "not effective" for 2021 and 2022.
www.foxbusiness.com...#&_intcmp=fnhpriver_11



posted on Mar, 14 2023 @ 08:11 PM
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originally posted by: AugustusMasonicus

originally posted by: Violater1
So these cards, they charge you what fees?


Zero annual fees on mine.


May I ask what card you use?



posted on Mar, 14 2023 @ 08:15 PM
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Amusing how they pushed for sanctions agaisnt Russia and a few agaisnt China.

Now you have the top major banks failing in US.



posted on Mar, 14 2023 @ 08:16 PM
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a reply to: Violater1

I currently have a Chase United (Visa) card.




edit on 14-3-2023 by AugustusMasonicus because: Help me....I'm clotting up at altitude!



posted on Mar, 14 2023 @ 08:31 PM
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originally posted by: AugustusMasonicus
a reply to: Violater1

I currently have a Chase United (Visa) card.





Last year when I got my home loan my banker told me to get another card but to always keep all total debt at under 10%,

It's done wonders for my credit rating.



posted on Mar, 14 2023 @ 08:33 PM
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originally posted by: DBCowboy
Last year when I got my home loan my banker told me to get another card but to always keep all total debt at under 10%,


How's that working out for you considering there's a Mrs. Cowboy?




edit on 14-3-2023 by AugustusMasonicus because: Help me....I'm clotting up at altitude!



posted on Mar, 14 2023 @ 08:37 PM
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originally posted by: AugustusMasonicus

originally posted by: DBCowboy
Last year when I got my home loan my banker told me to get another card but to always keep all total debt at under 10%,


How's that working out for you considering there's a Mrs. Cowboy?





she got a card and is paying for Bezos's summer home.





posted on Mar, 14 2023 @ 08:39 PM
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originally posted by: DBCowboy
Last year when I got my home loan my banker told me to get another card but to always keep all total debt at under 10%,

It's done wonders for my credit rating.


12 years ago when my Dad died, he had willed his house to me. The only problem was, he had just re-mortgaged it and the finance company "owned" it. I paid on it for about 5 years and didn't even pay it down a whole dollar. It was just over $31,000 that was owed. I got smart and shot them an offer for $20,000 cash to settle it and they took it. I know my credit score had nothing to do with it because as that precise moment, my credit score was zero. As in I didn't have a credit score. When I pay cash for everything, apparently it doesn't help with creating a credit score.

So, why should I worry about a credit score? They aren't very accurate at times and therefore not very helpful at times.



posted on Mar, 14 2023 @ 08:45 PM
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originally posted by: TrulyColorBlind
So, why should I worry about a credit score?


A few can be lower auto insurance rates, ability to apply for certain jobs, easier approval for rental properties, no deposit for utility hookups.



posted on Mar, 14 2023 @ 08:50 PM
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originally posted by: TrulyColorBlind

originally posted by: DBCowboy
Last year when I got my home loan my banker told me to get another card but to always keep all total debt at under 10%,

It's done wonders for my credit rating.


12 years ago when my Dad died, he had willed his house to me. The only problem was, he had just re-mortgaged it and the finance company "owned" it. I paid on it for about 5 years and didn't even pay it down a whole dollar. It was just over $31,000 that was owed. I got smart and shot them an offer for $20,000 cash to settle it and they took it. I know my credit score had nothing to do with it because as that precise moment, my credit score was zero. As in I didn't have a credit score. When I pay cash for everything, apparently it doesn't help with creating a credit score.

So, why should I worry about a credit score? They aren't very accurate at times and therefore not very helpful at times.


A good credit score will allow me to finance my retirement home where I want, when I want.



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