Silicon Valley Bank Collapse

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Jade

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IlluminatiPirate

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Everyone is waiting for bloody Monday tomorrow. All of the bears are ready, im thinking it will be a nothingburger
1675971750212072.gif
 
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SolidStateSurvivor

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...it's happening? :elonE:
Didn't 2008's economic crash also kick off with a major bank failure?

Biden's set give a speech on the banking system at 9AM EST today. Should be a decent indication on what the corporate handler's messaging on this whole thing is going be.

Considering the cost of living is still noticably increasing and rates keep getting hiked I'm not very optimistic.
 
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Orlando Smooth

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I can't believe they're bailing out this stupid crypto bank. Wait, I'm sorry, Yellen said they aren't bailing them out, instead they're going to "make whole uninsured depositors." Fucking joke, absolute clown world level doublespeak.

Is there literally any form of bad behavior that democrats think is worthy of punishment or ramifications? Aside from poor white people refusing to kowtow to the woke mob of course, we all know they think that's an offense worthy of public humiliation and loss of livelihood.
 
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Jade

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SolidStateSurvivor

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The grand 90-second speech from Biden on the situation:

View: https://www.youtube.com/watch?v=ono5P4FeUtc

Hey to be fair he probably had to blow through his speech so he and Hunter would still have time after to withdraw from their banks. PepSiDawgwitcan


Biden: No losses covered by the tax payers
fetchimage

...okay so where is the money coming from then lmao

Looks like some bank stocks are tumbling right now. But luckily The Oscar's happened last night and that's serving as a good enough distraction for the news to cover.
firstrepbank.PNG


Can we please get Occupy Wall St 2: Electric Bogaloo going already? Preferably with a touch of "peaceful protestors"

I can't believe they're bailing out this stupid crypto bank. Wait, I'm sorry, Yellen said they aren't bailing them out, instead they're going to "make whole uninsured depositors." Fucking joke, absolute clown world level doublespeak.

Is there literally any form of bad behavior that democrats think is worthy of punishment or ramifications? Aside from poor white people refusing to kowtow to the woke mob of course, we all know they think that's an offense worthy of public humiliation and loss of livelihood.
TPTB revel in the suffering of working class whites in particular, and they're most likely laughing that those are the exact type of people that are going to be left fronting the bill (as usual.)
With a "crypto bank" like SVB getting its ass saved doesn't this just enable banks to be more ballsy with similarly speculative investments moving forward?
 
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Jade

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Biden: No losses covered by the tax payers
fetchimage

...okay so where is the money coming from then lmao
According to him the money will come from the fees that banks pay into the Deposit Insurance Fund
...so, it's gonna come from the taxpayers.
 
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Orlando Smooth

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The grand 90-second speech from Biden on the situation:

View: https://www.youtube.com/watch?v=ono5P4FeUtc

Tough talk, I'll believe it when I see it. Democrats have done the bidding of management and investors since 2008. As cringe as his candidacy is, Ramaswamy's book does a really good job of explain how democrats went from being the party of the everyman to being the largest recipients of Silicon Valley and Wall Street money over the past 15 years. For management and investors not to weasel their way out of being fired and losing all their money would be a remarkable sea change. Don't bet on anything other than changes to titles and positions, and investment losses to somehow be turned into tax write offs or cash payouts of some sort.

Can we please get Occupy Wall St 2: Electric Bogaloo going already? Preferably with a touch of "peaceful protestors"
Fuck Occupy. Limp-wrist liberals that did nothing but sit in parks and smell bad, all it took was a couple of white women to call them racist or whatever to disband them. Some resolve they had. I hate cronies, but I respect them insofar as they actually have the balls to do shit and take care of themselves. But lowlife socialist scum that have no goals other than "burn it down" get no sympathy from me.
 
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SolidStateSurvivor

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Fuck Occupy. Limp-wrist liberals that did nothing but sit in parks and smell bad, all it took was a couple of white women to call them racist or whatever to disband them.
A lot of the original Occupy Wall St movement was co-opted, I'll agree with you on that. But the larger characterization of them being dirty hippies just seems like a retreading of MSM talking points/propaganda from 15 years ago invoked as a way of delegitimizing the original messaging.
But lowlife socialist scum that have no goals other than "burn it down" get no sympathy from me.
And so then what do you suppose should happen to the major Wall St firms (like BlackRock) running the show? You and I both know the formal justice system won't do shit aside from a sacrificial lamb here and there (Madoff in 08, SBF in 23).
 
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Orlando Smooth

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But the larger characterization of them being dirty hippies just seems like a retreading of MSM talking points/propaganda from 15 years ago invoked as a way of delegitimizing the original messaging.
I saw what I saw with my own eyes and that's what I base my judgements on. It's clear I'm not going to change your mind so I won't try to, but understand that just because the MSM says something doesn't mean it's wrong by default and looking only at the extreme minority of the most noble/enlightened/educated/compassionate/whatever examples of the group to represent them as "the movement" is also disingenuous. Not even saying you're doing that on purpose, but in general the people who reflexively default to contrarian views are very often guilty of this line of thought.

And so then what do you suppose should happen to the major Wall St firms (like BlackRock) running the show? You and I both know the formal justice system won't do shit aside from a sacrificial lamb here and there (Madoff in 08, SBF in 23).
Black Rock is not breaking any rules. The justice system won't do anything because there is nothing for them to do. Madoff and SBF were not sacrificial lambs, they were skewered because they broke the extremely minimal rules that do exist. This pisses off actual bankers because it destabilizes their system and further lowers the public trust in them even if they had no part in it.

What would I do if I were king of the world? Institute regulations that institute a new class of spending and investment that is not allowed to be financialized as it has been since the 70's. Housing only got expensive once it became a financialized asset. Education only got expensive once it became a financialized asset. Healthcare only got expensive once it became a financialized asset. Energy only got expensive once it became a financialized asset. The list goes on but you get the point. Some graphs. Capitalism is the only viable choice, but that doesn't mean that we can't define parameters to work within and also maintain a national industrial policy. If you have no faith in institutions as a concept, the only meaningful change you're capable of bringing about is destruction.
 
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Jade

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Crypto is pumping :LaughHard: The mumus were wrong yet again
View attachment 56246
I'm not too surprised at this tbh - every time it seems like the next recession/depression is gonna happen crypto goes way up because people think it's a viable alternative for some reason
 
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IlluminatiPirate

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I'm not too surprised at this tbh - every time it seems like the next recession/depression is gonna happen crypto goes way up because people think it's a viable alternative for some reason
I have crypto but for investment purposes
 
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SolidStateSurvivor

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If you have no faith in institutions as a concept, the only meaningful change you're capable of bringing about is destruction.
Never thought of it that way, but it's an accurate assessment. I have lost faith in most institutions to be honest, even ones I was fond of. Who hasn't though? Genuine question, but what institution do any of you (Agora Road Travelers) actually place your faith in?

Just look at those graphs you linked from the 1971 website, that's 52 years the system/institution has had to get its shit together by either itself or the democratic process, and yet here it is in 2023 going strong (and worse than ever!) Yeah, it's technically legal, but this late in the game you can't fix that with legal means, they've fortified their control of that. The legal system is fake and gay! But burning it down is too much? Soros controls the US DA's anyhow lul.

Maybe I'm just too far gone, idk, go ahead and roast me on that Orlando, I really wanna give you the benefit of the doubt, but I dont see how pointing at dusty old stats as reference for a turning point, and then expecting a mythical legal answer 50 years later to restore faith in the institutions is at all possible. Surely you realize violence is all that matters in this situation? Please, tell me what else they would actually respond to?

I prefer capitalism, but what is currently practiced is not ideal. The system in place promotes socialism for the bankers, and spreading the debt amongst the rest of us. I don't get the impression that this is the ideal John Locke envisioned. Did John Locke imagine a future where the working class demographics of their homelands were systematically wiped out with mass imported foreign labor dependent on feds for gibs?

It's all legal, but ethical? Fuck no.
 
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Orlando Smooth

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Genuine question, but what institution do any of you (Agora Road Travelers) actually place your faith in?
In terms of institutions in their current form that I trust:
The military (American, obviously). It's the only US institution with racial, ethnic, and religious demographics reflective of the population as a whole, and by forcing random people who are wildly different to just do the damn work it does the hard lifting of forcing these people to accept one another and get on with life. No woke bullshit required. The discipline taught within is well known and has saved countless young men from falling off the straight and narrow.
The free market. Humans naturally default to min-maxing their way to whatever objectives and goals they have, so by providing people with both incentive to action and guard rails to prevent/minimize negative externalities you have created a situation that will garner both parties what they want. Add in competition and now you have iterative, continuous improvements.

Institutions that I believe in the potential of, but have currently lost their way:
Family. Families are the individual bricks that society is built with, but a combination of factors (it's no longer feasible for most families to thrive off a single income, having kids is an economic drag on the parents instead of a boon, a surge in fatherlessness and also people who believe that is a totally acceptable way of raising children) has meant the destruction of traditional families. It should be a surprise to precisely no one that the rise in fat, weak, unskilled NEET men perfectly corresponds to the rise in fatherlessness in the western world. This is not to say that fatherless children are incapable of success, obviously, but at population level the trends are undeniable. Fixing modern families requires a lot of difficult conversations that both wings of society are simply not ready for.
Religion. People have questions in their hearts that cannot be answered by science in data. This will always be true of the human condition. Having some sort of unifying force around which society can unify has been critical throughout human history - it cannot be a coincidence that literally every successful society had some sort of religious practice. Doesn't even have to be a god fearing type thing, something akin to a guiding philosophy that gives people purpose and aids in answering their problems (think: Confucianism) must come back in order for society to mend itself.
The validity and methodology of the democratic process. The Founding Fathers catch a lot of shit for not giving universal suffrage from the start, but the older I get the less convinced I become that everyone should vote. Politicians aim for the lowest common denominator so by having extremely low quality voters, you inevitably end up with extremely low quality politicians. I am of course opposed to allowing/disallowing voting based on sex, skin color, education level, etc., but I think that making it easier and easier to vote and turning elections into media spectacles instead of serious events, we encourage the worst of society to have a say over how things should run. If people are too fucking lazy to get off their asses once every 2 years, I really don't think their opinion should matter in governing the country.

Maybe I'm just too far gone, idk, go ahead and roast me on that Orlando, I really wanna give you the benefit of the doubt, but I dont see how pointing at dusty old stats as reference for a turning point, and then expecting a mythical legal answer 50 years later to restore faith in the institutions is at all possible.
I'm not going to roast you. I've certainly gone through my own dark phases and questioned whether any of it is capable of saving, and if so, worth saving. But what I always come back to is the belief that if you don't try to make things better, they never will be better. It's exceptionally rare (though not unheard of) for revolution to be the answer and I'm not writing that off completely, but I think we're still a far ways from there. It's my view that a certain generation just needs to fucking die off already and take their decades old philosophies with them, allowing for literally every other generation to take the reins and institute the changes required for their success. Because that's the real secret, boomer theories actually worked and were actually necessary in the 80's. But we don't live in the 80's and haven't for a very long time, so it needs to go. But don't throw the baby out with the bath water as you institute the required changes and upgrades.

I prefer capitalism, but what is currently practiced is not ideal. The system in place promotes socialism for the bankers, and spreading the debt amongst the rest of us. I don't get the impression that this is the ideal John Locke envisioned. Did John Locke imagine a future where the working class demographics of their homelands were systematically wiped out with mass imported foreign labor dependent on feds for gibs?
You're getting close here, but not quite there. Currently we do not even have capitalism as Locke (or any other classical liberal) envisioned, so when people blame [current issue] on capitalism, all they're doing is displaying their own ignorance to anyone who is economically literate. The problem, as I alluded to in another comment, is the corporate financialization of literally everything in our lives. The problem with billionaires isn't that they have money, it's increasingly how they got it. Whatever you may think of Gates', Musk's and Bezos' personal opinions and politics, there is no denying the fact that they generated value for society through the creation of goods (Tesla) and services (Microsoft, Amazon). But for every one of them, there are something like ~10 billionaires who made their money through hedge funds and VC. Which is to say that for every one of them who hit pay dirt through ingenuity and entrepreneurship, there are 10 who made their money via gaming the system and being in the right place at the right time. But saying "the problem is the current financial structure, not the free exchange of goods and services" is an opinion that requires some degree of academic and/or experiential education. As a rule, the "burn it down" types (e.g., Occupy) have virtually no economic education.

I would be happy to go on about this at great length, but I'm starting to ramble. The short version is: there's more regulation on production than there is on finance, which is backwards. No shit that once you make it insanely difficult to produce anything the type of people who are motivated to make money will largely stop being producers and start being financiers. I'm not asking anyone to disbelieve their eyes - it is definitely tough out there and tougher than it used to be. But think harder about what the secondary, tertiary, and fourth order consequences of destruction would be. There is quite a lot that the middle class westerners who attend these protests take for granted and would stand to lose if they actually got their way.
 
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Natalia Simp

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Whatever you may think of Gates', Musk's and Bezos' personal opinions and politics, there is no denying the fact that they generated value for society through the creation of goods (Tesla) and services (Microsoft, Amazon).
I will deny it, any anybody with any sense will deny it as well. Microsoft became rich because of it's monopoly, which it gained from ripping off it's competition, and incestious relationships like Gate's mother being on the same board as their first customer. Musk became rich due to the past 10 years of printing money and incestious dealings to gain government contracts. Bezos became rich because they were backed by a friend's trust fund who didn't require them to turn a profit for an exceedingly long time.

Each one of those examples you cited became billionaires due to their relationships (at best), or due to scamming their clients and ripping off their competition. They didn't have to compete on their product, or their marketing acumen. They are the ones that got lucky enough to be born into wealth, and we should never forget that. The other billionaires are even worse, for the same reasons you cited.
The short version is: there's more regulation on production than there is on finance, which is backwards. No shit that once you make it insanely difficult to produce anything the type of people who are motivated to make money will largely stop being producers and start being financiers. I'm not asking anyone to disbelieve their eyes - it is definitely tough out there and tougher than it used to be. But think harder about what the secondary, tertiary, and fourth order consequences of destruction would be. There is quite a lot that the middle class westerners who attend these protests take for granted and would stand to lose if they actually got their way.
Absolutely not possible. The political, donor, investor classes are all in the same bed. The regulations you cite are written by the political class who are bought out by the same people they are empowered to regulate. There is absolutely no way for a run-of-the-mill middle class to fight for the proper legislation, execution and judicious proceedings against this corruption. This is why we want the system to end, the only thing it's good at is bread and circuses, which pulls the wool over everyone's eyes to the champage drinkers looking down at the rest of us and laughing.

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View: https://www.youtube.com/watch?v=2PiXDTK_CBY
 
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AMC_Squared

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...it's happening? :elonE:
Didn't 2008's economic crash also kick off with a major bank failure?

Biden's set give a speech on the banking system at 9AM EST today. Should be a decent indication on what the corporate handler's messaging on this whole thing is going be.

Considering the cost of living is still noticably increasing and rates keep getting hiked I'm not very optimistic.
I've been waiting for the economy to collapse since 2021. Trust me it was just another nothingburger. Everything is getting saved for another psyop in 2024 during the elections. All of this should've happened years ago but it's being pushed more and more back up until politicians need another psyop to peddle :Cokebaka:
 
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Unfortunately while I really hope this will create a large market crash a la 2008, it's unlikely. SVB is just another example of people trying to monetize and centralize a decentralized currency. Crypto currency has far more potential to be used for illegal and individual endeavors, not as some get rich quick scheme for tech illiterate investors and the gullible.

Additionally, many of the banks who's stocks are plummeting are just smaller, local, bank firms, and people are losing confidence in them and pulling out all their assets just to likely reinvest in a larger banking firm. This is simply a consequence of fractional reserve banking, a system that relies purely on the trust and confidence of the public and the people who make deposits. Banks don't actually hold your money, they only hold about 10% of it as a liquid asset; banks are primarily a loan industry.

SVB will 100% get bailed out by the taxpayer, they'll apologize and blame it on the old CEO, then open up their doors as a new firm in about 7-10 business days.
 
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