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Biden killed SVB. We're next.

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Posted By: earlybird, 3/14/2023 4:07:00 PM

The blame game over SVB’s collapse is a diversion. The media have rounded up the usual suspects: Trump, greed, bad law, blah, blah, blah. When Captain Renault did that in Casablanca, he knew who the real culprits were. The media is not that bright. James Hickman is. He is the founder of Sovereign Research. He looked at the numbers and he found the culprit. Biden. He made government bonds worth less which has banks dropping like cockroaches in a Raid commercial. (snip)Hickman wrote, “Silicon Valley Bank was no Lehman Brothers. Whereas Lehman bet almost all of its balance sheet on risky mortgage bonds, SVB actually had a surprisingly conservative balance sheet.

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Hickman’s pen name: Simon Black.

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Reply 1 - Posted by: Island Life 3/14/2023 4:29:40 PM (No. 1425081)
We cannot survive two more years of the Vegetable.
16 people like this.

Reply 2 - Posted by: Mcscow sailor 3/14/2023 4:45:49 PM (No. 1425102)
Without question, rapid inflation caused us bonds to decline in current value. So when there was a rapid draw of funds from sivb, they had to redeem bonds at subpar value and the apple art was overturned. Perhaps in the normal scheme of things, they would have been allowed to mature to full face value before redemption. Perhaps a more competent board than the Star Wars bar scene they represented might have guided svp to stage maturities better. BUT…the question remains as to why the bank run initiated. Was this a Johnny Carson toilet paper event, was it insider trading that spread, was it a foreign or domestic entity that saw an opportunity for disruption?
4 people like this.

Reply 3 - Posted by: Son of Grady 3/14/2023 4:49:34 PM (No. 1425109)
At this rate #1 I'm not sure we have 2 years under this guy. Every fix the government has to address their screw ups only benefits the Government but crushes the citizens.
9 people like this.

Reply 4 - Posted by: Alecto2 3/14/2023 5:00:17 PM (No. 1425112)
Locking up funds in long term bonds and assuming continued low to nil inflation. What could possibly go wrong?
5 people like this.

Reply 5 - Posted by: smokincol 3/14/2023 5:35:05 PM (No. 1425122)
diapers wants to federalize the banking system and he'll do whatever it takes to get it done, expect more or the same
3 people like this.

Reply 6 - Posted by: Dodge Boy 3/14/2023 6:03:15 PM (No. 1425144)
In all due respect, Mr. Surber, it was the Federal Reserve, a private corporation whose instructions come from the House of Rothschild, that mishandled interest rates. But in their defense, Jay Powell et al have had few cards to play. The beginning of the end started when Nixon was bamboozled into dropping the gold standard and let the dollar drift away into nothingness. As for a further look back into history, our financial system was toast one hundred and ten years ago. President Taft was horrified at the prospect of a privatized federal reserve, known at that time as the National Reserve Association - corruption at its best. But uber lefty president Woodrow Wilson, was all in for the NRA and signed it into law. It just took this long to 2023 for the chickens to come home to roost. But biden the cheater and his deep state locusts played right into this debacle. Why is it when a dim does something unlawful and unethical, it is considered politics, but when a republican does something unlawful and unethical, it is considered a felony subject to prosecution and prison time.
7 people like this.

Reply 7 - Posted by: JackBurton 3/14/2023 6:12:58 PM (No. 1425153)
I disagree with a couple points by Surber... but agree for the most part. On the Gov being responsible because the price of Treasuries fluctuates... is he kidding? The Government is responsible for redeeming the bonds at maturity and paying the interest until then. Kind of like commodities. The issuer is responsible for delivering the goods; the person holding the contract at maturity is responsible for paying the full price and taking delivery. When those contracts are traded before maturity and fluctuate wildly, it isn't the issuer or the end user's fault. SVB should have known to go for shorter maturities (even 3 month Treasuries are yielding over 4% at this point and have a higher yield than the 10s) AND they should have been very skeptical of a president who caused inflation starting day one by crimping energy supplies. As for realizing a loss on the Treasuries... if the bonds were held to maturity, they would lose return to inflation and have a poor showing...but otherwise recoup their full purchase price. Selling them off shortly before a recession and the cessation of interest rate increases was mistake number 2. Even though they had a loss, the bonds were/re hardly worthless. There is still a lot of value in SVB's holdings.
2 people like this.

Reply 8 - Posted by: RussZilla 3/14/2023 6:27:19 PM (No. 1425169)
Thank you, Joe Biden. You have made the world a dangerous place. Your ignorance has capsized our ship of state. We are no longer leader of the world. We are it’s laughingstock. How can we overlook the fact that Biden has messed up relations with every ally? We left Europe in the lurch when we abandoned Afghanistan without plan or reason or even letting our friends know. He started a war with Russia, instead of leading a peace conference. He now has his eyes set on a war with China and North Korea, when we rely on Chinese factory and food production. He insults Saudi Arabia over an internal problem that was none of America’s business, and then asks for them to sell us oil. Lord, help us.
5 people like this.

Reply 9 - Posted by: doctorfixit 3/14/2023 7:33:30 PM (No. 1425237)
Another Biden wealth transfer from middle class taxpayers to rich socialist plutocrats like Gavin Newsom. Banks are supposed to fail when they are criminally mismanaged. Biden Democrat No-Consequences policies mean no consequences for the corrupt and the criminal, but catastrophic consequences for the good and the honest. Biden's evil is immeasurable.
7 people like this.

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