A Busy Bank Crisis Weekend
A Busy Bank Crisis Weekend
From Zurich to Omaha.
A few of Warren Buffett’s fellow Omahans (One of the first photos that came up when searching for “Omaha” on Pexels. Credit: WoodysMedia).
A Busy Weekend For Bankers
The three main headlines this weekend with respect to the banking crisis:
Mid-Sized U.S. banks call for the FDIC to insure all U.S. bank deposits for the next two years.
* Midsize US Banks Ask FDIC to Insure All Deposits for Two Years (via @business) @JohnSpall247 $KRE
All three of the banks we bet against last week are members of the Mid-Size Bank Coalition of America that authored that open letter.
Speculation that regional bank chiefs have been flying to Omaha to meet with Warren Buffett. Buffett’s Berkshire Hathaway, Inc. (BRK.A, BRK.B) has over $120 billion in cash and Buffett of course has a history of opportunistically investing in banks during crises in the past.
Negotiations instigated by the Swiss National Bank for UBS Group AG (UBS) to buy all or part of its ailing rival Credit Suisse Group AG (CS).
Looking Ahead to Monday
Presumably, the goal in the U.S. and Switzerland is to be able to announce some positive news before futures open tonight. If they’re successful, that may benefit our bullish bank position on Monday; if they’re not, that may benefit our bearish bank positions. In either case, we’ll have an eye out for potential opportunities on both the long and short sides. And of course we may have some additional excitement on Tuesday if reports that Trump will be arrested then are accurate.
First of all FDIC is paid for by member banks; Even in the best of time the $250k capped FDIC insurance would only cover the first 3-5% of people in line; This is because the total cash-value of the fund is static,
Now of course SVB had a situation where 92% of the entire portfolio of deposits was greater than $250k; Which begs the question, what the FUCK were they thinking?? Knowing it wasn't insured;
Of course we know that SVB is the bank of inQtel, aka the SV bank of the CIA; Since inQtel was created in the 1990's and picked chose our woke, gay winners, e.g. future entrepreneurs. Pre-condition on all VC ( venture capital aka free-money ) was to be held in SVB.
The reason for lack of diligence is like all things everybody was just following orders;
So now we have +30 years of the CIA/DOD picking and choosing high-tech winners and dissing the losers; They have built a large pile of shit; Funding Unicorns where on a good day maybe 90% of all these high-tech incubating companys will NEVER make a profit;
So what better than bail them out, before they all like Icarus returned to earth;
Regarding Buffet, OMG what's to say, a creep in Omaha think Boy's-Town biggest pedophile scandal in USA history is ran from, which is the reason why all the REAL pedo's must rally their wagons at this time, as you all know the EPSTEIN client list is to be released;
Buffet made his bucks in the insurance business, he perfected the model "collect premiums, invest free money in stock market, and deny claims", making buffet the richest man on earth for a time;
In summary the reason for the airplanes is not banking, its pedophilia, how will the world's elite CEO's handle the coming world of shit; My personal guess on SVB is that CIA knows the USD/USA is about to break so they want to shift into GOLD ASAP, which is clearly shown by GOLD going astro.
*** A note in case you didn't know Google, Oracle, Microsoft, facebook every fucking 'winner' in the USA high tech stable is a front for NSA&CIA, essentially global spying to protect USA hegemony