SVB – Banks – Failure – Update

This is a quick down and dirty post this morning…a very important post. Banks!

First off, remember I am no investment advisor, not an economist, just a regular person sharing some things I’ve seen that has formed my personal opinion.

SVB, I am sure you have heard about it already, failed last week…meaning it went belly up. And with that failure was the loss of billions of dollars. Here is what I believe to be the case at this point:

    • Plenty of people on the inside knew the bank was in very bad condition and discreetly let their friends know to get their money out, many did, some didn’t.
    • A specific healthcare company knew about it just before and during the initial hours of the failure. They were able to withdraw almost all of their funds through small withdrawals, small transfers and small wires without being detected or stopped.
    • The SVB CEO knew what was happening and sold millions of dollars of SVB stock just a couple of days before the failure.
    • Mark Cuban, billionaire, didn’t withdraw his funds and has lost millions.
    • FDIC will cover losses as per their guidelines. 90% of all monetary losses will NOT be covered by FDIC.
    • The federal government has said they will not bailout the bank.
    • Reportedly it is the 2nd largest bank failure in US history.
    • It was only one of two bank failures last week.
    • It is unknown if this event will lead to a wider “bank run” this coming week, starting today. There are experts on both sides of the fence on this one.
    • Famous & successful billionaire Warren Buffet issued a general economic and stock market warning to his clients this past week. This is notable since Buffet has virtually always been bullish on both.
    • SVB was forced by the federal government to buys large amounts of Treasuries back when they were 0% and near 0%. Those Treasuries lost huge amounts of value as the Fed raised rates.
    • There are widespread reports that SVB is the tip of the iceberg and many other banks, some large, some small, that are in as bad of condition as SVB.
    • The downstream effects on the SVB failure is unknown at this point. But there is informed speculation that the downstream effects could reach a trillion dollars.
    • SVB banking philosophy was based on ESG.
    • I can’t confirm, so I won’t give speculative details, but there appears to be a darker side to this event and the story around it.
    • Don’t forget the FTX failure earlier this year.
    • Join with me in praying for the best possible outcome.

Prepare/act according to your best judgment for your situation. If you didn’t read my post yesterday, you might want to…the earlier the better. < click here to read that post >

Sorry, I would love to write more, but I have to go online and move money around in our mutual fund IRA account. The afterwards I am starting the big upgrade on our off-grid solar system. But I can’t start that till I move some of our mutual fund based IRA around. And it may take me some time to move some of our mutual fund based IRA around. But it will be worth it to take that time to move some of our mutual fund based IRA around. I am not withdrawing it, that is not our need, just moving some of our mutual fund based IRA around. At our age I think it is important to have it nice and safe(r) but still with the mutual fund company…just in a safe(r) position…for our age group and specific condition.


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3 thoughts on “SVB – Banks – Failure – Update

  1. Pingback: Banking Failures…the tip of the iceberg… | A.H. Trimble - Emergency preparedness information for disasters and grid-down

  2. Pingback: More on the bank failings… | A.H. Trimble - Emergency preparedness information for disasters and grid-down

  3. Pingback: Another Bank Failure…more troubling signs… | A.H. Trimble - Emergency preparedness information for disasters and grid-down

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