Haha!! True!Do you mean was or went?
Woody
These banks are failing because their cash cow is drying up. The Fed is falling behind on the money printing.
Banks used to survive on deposits from people. The banks would then loan out the money and charge interest and pay a portion of that to the depositors. Banks also invested in the market and earned dividends that in turn was "shared" with depositors.
Now they mostly run on money funneled to them by the Fed and they use that money to invest in the market. Seems to me that very little is loaned out to business and Joe mortgage seeker.
Your view might be different, but that is how I see it.
Then, too, one has to wonder what SVB did with all the deposits it received from those tech companies. Where is it? Where did it go? Someone has it. Money doesn't just disappear. Real money, that is!
It's 10:14 AM right now. Do you know where your money is?
Woody
We’ll see, here’s Bill Ackmans solution. He believes bank runs start tomorrow, they have just a few hours left until Asia opens. Overseas is seeing bank runs as well.
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