Black Swan Coming May 14th; FDIC Bankrupt, $0.00 Reserves

originally posted by: tanstaafl

originally posted by: KSDakar01
I did some research on the balance sheet of the FDIC. If you go to the website it will tell you that the reserve holding is like $168-200 Billion. This is not the current data...

If SVB did take the FDIC reserves, it wont show up on the balance sheet until the reported is posted for public view. On or about May 14 (55 days after Q1 ended March 23) the report will post. If and when the balance is ZERO, there will be a run on every small and medium sized bank in America. I hope I'm wrong here, but this is the event that could usher in a new CBDC that IS insured under a new type of FDIC.

So... are you saying it is never replenished from the general fund?

I'd be extremely surprised/dismayed to find out there was no automatic replenishment and/or fallback mechanism.

Replies like this frustrate the hell out of me!

Really? Seriously? What "general fund" are you talking about? Where is this magical "general fund" supplied from?

What do you suppose the source for that "automatic replenishment" or "fallback mechanism" would be. It has to come from somewhere. May Beijing Joe can just pull it out of his butt? I guess the Fed can just fire up the printing presses. Or maybe they do a massive bail-in, taking depositors money to cover their losses.

This is what I referred to in my previous reply; the gullibility of the marks. As long as the general public believes in the fairy tale of an automatic replenishment or a fallback mechanism, they are convinced that it will all be good. There is little to no understanding of basic economic principles in the general population and this makes the entire world an easy mark.

a reply to: Ahabstar

Me, I think I will do alright just making some primitive rustic furniture.

Yeah you will. People always prefer a real seat to squatting in the dirt.

Wooden toilets that can be placed over a hole in the ground will be popular as well.

Cheers

a reply to: anonentity

Please send me all your worthless fiat currency

All I know is my meager crypto account is up 42% year to date, no doubt some Sam Bankman Freid wannabe is making bank.

Speaking of which who really believes we missed the foreshadowing allegory with BANKMAN as the financier of the war in Ukraine?

originally posted by: KSDakar01
If this happens....

The Fed NEEDS a crisis to usher in CBDC.

NATURE & Physical calamities tend to 'show up' when mankind causes self inflicted disasters, just to let-us-know that things can be worse by Fates or supernatural means

originally posted by: incoserv
a reply to: tanstaafl
Replies like this frustrate the hell out of me!

I can only imagine...

Really? Seriously? What "general fund" are you talking about? Where is this magical "general fund" supplied from?

Oh, I don't know... maybe this one?

Maybe you'd like to formulate a new slightly different frustrated reply now?

a reply to: tanstaafl

Think of all the money in Credit Unions that are not FDIC insured…

a reply to: tanstaafl

countries always run in the red regardless of the spread sheets. OP has no qualifications to make the calls he i s making prolly.

a reply to: KSDakar01

The straw that broke SVB was a 1.8 billion loss.

SVB was then acquired by First Citizen’s Bank, a North Carolina lender.

The FDIC agreed to share half of the losses with First Citizen’s Bank on SVB’s 60 billion in loans, if those loans turn into losses greater than 5 billion.

There would have to be major black swan to turn those 60 billion in loans sour. And even if, more banks would have to fail before the FDIC reserves were depleted.

In short, the FDIC reserves being depleted won’t cause a black swan, but a black swan might cause the FDIC reserves to be depleted.

originally posted by: Ahabstar
a reply to: tanstaafl

Think of all the money in Credit Unions that are not FDIC insured…

Doesn't matter, since they are NCUA insured... but yeah, probably just another name for the same thing.

a reply to: anonentity

didnt blackrock invest everyones state and federal pensions
in ukraines long lost yuzivska gas fields, the coal mines,
and steel mills in azovstal, and given to zelinski
to blow on this war?

and then deplete europe of their weapons, so
the united nations, or usa can take over with no resistance?

We find ourselves in an economy covered with Band-Aids but no cure.