Silicon Valley Bank (one of the nation’s largest) has failed. ⚠️
Depositors are unable to withdraw money.
SVB was the second biggest bank failure in U.S. history after the collapse of Washington Mutual in 2008.
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Timestamps:
0:00 – Historic Bank Failure
0:47 – Backbone of Silicon Valley
1:00 – Bank Runs happening NOW!
2:03 – Did Donald Trump predict this?
2:43 – Warren Buffet says this will happen next!
3:38 – What EXACTLY happened with Silicon Valley Bank?
6:42 – Bitcoin & crypto will THRIVE because…
7:01 – ALL THE BANKS are BROKE!
8:38 – Most important you understand THIS
**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin.
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Svb bank has now failed it is the first Insured institution to fail so far this Year again svb bank has officially Failed another bank has failed this is The largest bank failure since the Great Recession people are saying this is just Like 2008. we've read everywhere Essentially down by four or five percent We're down over 16 percent Dow at the Same time has fallen about 18 percent The stock market is now down 21 because We're now down 43 What in the world is happening on Wall Street it was the worst day on Wall Street since the crash of 1987. from the Financial capital of the world Jeopardy Bell is going to ring In five seconds and to be honest with You we wish it wouldn't although this Bank did have major crypto clients the Story here is more about tech in general In fact the bank in question is called Silicon Valley Bank they were the Backbone of the banking industry in Silicon Valley Bank runs are happening Now both retail customers like you like Me trying to get their money out also Founders and investors are desperately Trying to get their money out many Founders investors that I've talked to Have been deaf desperately trying to get Their money out some were successful and Some were not in fact I think we have Video of the scene right now at one of
The svb offices in New York you can see That a few Founders had collected and They were trying to get their money out They were turned away other Founders That I've talked to tried to go to Actual Bank branches and get cashiers Checked so that they could walk to Another bank and deposit those a lot of Fallout is still being figured out right Now in the Bay Area a lot of the people I'm talking to are trying to figure out What is next I talked to one founder Scott who says that he was just about to Wire money to his new svb account he's Thankful that he didn't but now he Doesn't know what's going to happen Because it takes time to open another Business account and the startup Environment by the way is getting all The more tenuous because of this failure A lot of people are saying that Donald Trump predicted this that he predicted a 1929 style economic crash if Biden was Elected I don't know all of this Incredible job that we've done will go Down Like that It will be A terrible terrible sight it might even Be a 1929 situation so you have a chance To have the greatest numbers in history You're almost there we're almost back to Where we were from the standpoint of the Stock market think of that
But you'll have a crash like you've Never seen before you put the wrong Person in office you'll see things that You would not have believed are possible Now Warren Buffett he predicted this or More accurately Warren Buffett predicted What's going to happen next Warren Buffett comments on a bank run once they Lose confidence it's all over it's Really like the old movies you know Where there's a run on the bank it's Getting so a guy's money ain't safe when Unless it's in his socket if you have a Run on the bank and there's a big line In front of the bank and you've got your Money in that bank you're going to get In line and if the president of the bank Comes out and says our Capital ratio is 13 you don't care because you know you Don't know what a capital ratio is and You don't know whether he knows what one Is and you know he's probably lying to You a company like Lehman or or any Major financial institution depends on People being willing to do business with Them tomorrow and lend the money Tomorrow and take their word the next Day and nobody has to do business with Lehman or or any any other instance Institution once they lose confidence It's all over so what exactly happened With Silicon Valley Bank why did this Happen let's go to an expert and host of Wall Street grit pay very close
Attention she explains what happened Well Silicon Valley bank is in big Trouble they are the 15th largest bank In the United States in terms of assets They sold off 21 billion in bond Portfolio for a huge loss to shore up Their balance sheet the market is really Worried the stock is down 54 today Here's what you need to know they Announced they completed a 21 billion Dollar fire sale never a good sign of Part of the bond portfolio and they took A 1.8 billion dollar hit on that sale Which is equivalent to more than they Generated in net income in 2021 so so Terrible loss now they've announced that They're going to sell 2.3 billion Dollars in shares to cover the bond laws And then the stock crashed because They're scrambling now to shore up Liquidity selling shares to cover up Losses is a huge red flag and it's been A terrible week for banking because just Yesterday silvergate Bank the crypto Bank said they were winding down Operations due to many of the same Issues uh that Silicon Valley Bank is Facing which we'll get to in a second But how is Silicon Valley Bank's Liquidity position doing so according to The company they have 180 billion in Available liquidity to cover the 169 Billion in deposits so not too bad but Dilution is a big problem because and
This is why the stock is tanking they Want to issue 2.3 billion in new shares That would be about equivalent to a Third of the company today's market cap So huge huge delicious and the stock was Already down 47 percent year over year Before today's sell-off so why are they Selling off bonds at such a huge loss The bank is facing two huge problems the First is interest rates they were Positioned horribly just before interest Rates increased the company's 21 billion Dollar Bond portfolio had a yield of 1.79 and a duration of 3.6 years compare That to today's three-year treasury Yield of 4.71 so as interest rates Rose Over last year the value of that Bond Portfolio fell dramatically and the bank Had a choice right out that three-year Duration of its bonds with a yield far Below the current treasury rate or sell At a loss and reposition the portfolio To maximize yield basically Silicon Valley Bank had to decide how quickly it Thought rates would decrease and clearly They don't think rates are coming down Anytime soon the other problem with this Bank is deposit see it's highly popular For tech companies and because the tech Market is not doing well that means Fewer deposits for this bank and the Restricted IPO and capital markets mean That VC back tech companies have less Money to deposit in the bank Moody's cut
The company's credit rating and Downgraded the credit Outlook to Negative and the stock I don't know I Don't think it's going to do too well Here I think it's in for a very very Bumpy ride maybe just as bad as Silvergate Bank who had to cease Operations make sure to hit that follow Button for more insights like this by The way make sure you subscribe to our Channel daily videos just like this Keeping you informed on the entire Cryptocurrency Market if you're Interested in making money in Cryptocurrency subscribe to our channel Daily videos reminder Bitcoin and crypto Is a peaceful way to opt out an Alternative you can be your own bank Crypto Bitcoin only going to get bigger Because the reality of this situation is What happened with Silicon Valley Bank What happened with silvergate bank what Happened in 2008 it's not unique all the Banks are broke you do not really Understand the concept of banking all The banks are broke Bank Santander Deutsche Bank Royal Bank of Scotland They're all broke and why are they broke It isn't an act of God it isn't some Sort of tsunami they're broke because we Have a system called fractional Reserve Banking which means that Banks can lend Money that they don't actually have it's A criminal Scandal and it's been going
On for too long to add to that problem You have moral hazard a very significant Moral hazard from the political sphere And most of the problem starts in Politics and central banks which are Part of the same political system we Have counterfeiting sometimes called Quantitative easing but counterfeiting By Any Other Name the artificial Printing of money which of any ordinary Person did they'd go to prison for a Very long time and yet governments and Central banks do it all the time central Banks repress the amount of interest That rates are so we don't have the real Cost of money the sheer Frontier of this Is quite astonishing it's central banks It's central banks that manipulate Interest rates commissioner and plus Underneath all this we talk Loosely in a Rather Cavalier fashion do we not about Deposit guarantees so when Banks go Broke through their own incompetence and Should Canary the taxpayer picks up the Tab it's theft from the taxpayer and Until we start sending bankers and I Include Central bankers and politicians To prison for this outrage it will Continue Bitcoin isn't going away crypto Isn't going away we need open Decentralized permissionless censorship Resistant Alternatives every day on this Channel I tell you about the future Subscribe to our Channel and be part of
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