New York Times: The US suffered the largest bank failure since the 2008 crisis

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New York Times: The US suffered the largest bank failure since the 2008 crisis

Alarming developments continue to occur in the financial system of the world's largest economy. According to the New York Times, one of the largest US banks, Silicon Valley Bank, has gone bankrupt.

The publication notes that this was the largest bank failure in the United States since the 2008 crisis, when Washington Mutual Bank, one of the oldest banks in the country, collapsed.



Silicon Valley Bank, based in California, is one of the XNUMX largest US banks by assets and is a major lender to technology startups.

This bankruptcy has already been dubbed the second largest in stories US bankruptcy. That things were moving towards this was evident during the past year, since by the end of the year the bank had not insured 89% of deposits, or almost $175 billion.

Silicon Valley Bank collapsed a couple of days after it was limited to withdrawing funds amid a sharp drop in its investment assets, which caused great alarm among savers.

As the New York Times writes, queues are already lining up at bank branches in order to withdraw funds from deposits, and investors to dump bank shares.

To reassure investors, US Treasury Secretary Janet Yellen hastened to assure them that the country's banking system is stable. Where is it even more stable with a total US debt of 31,6 trillion dollars ...
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  1. 0
    11 March 2023 10: 44
    In the United States, there is probably deposit insurance? How are the shares of enterprises in the "silicon valley" growing there? The NWF and pension funds of the West are happy, especially the Norgs?
    1. +3
      11 March 2023 10: 49
      Seems like it's not for everyone. Half of the deposits in this bank, it seems, were uninsured.
      1. +1
        11 March 2023 16: 25
        Quote from: parabyd
        Seems like it's not for everyone. Half belay deposits in this bank, it seems, was uninsured

        "Be careful
        how by the end of the year the bank did not insure 89 (!!!)% of deposits or almost $175 billion"
        This is a little NOT half
    2. +7
      11 March 2023 10: 50
      Quote: tralflot1832
      Does the US have deposit insurance?

      Whether it is or not, but it may not be so important.
      In light of the recent talk that the Yankees are planning to reduce the number of their banks to zero and transfer all dollars into a virtual form, under vigilant control over their turnover under the same Fed, maybe we are now seeing the slow implementation of this idea.

      Although, on the other hand, I do not have a contribution to Silicon Valley Bank and I do not particularly worry about its "death". Yes
      1. +7
        11 March 2023 11: 11
        I wonder where the bankers of the bank with "bags" of money rushed to China or Russia. But it cannot be that they didn't steal money before the bank's bankruptcy. Capitalism, however.
        1. +5
          11 March 2023 11: 29
          Quote: tralflot1832
          it cannot be that money is not stolen before the bankruptcy of the bank. However, capitalism.

          So the "loss" of uninsured depositors' money - this is the THEFT by the bank - the bank owners - money from depositors!
          After all, the money itself hasn't gone anywhere, it hasn't mated - it's like water in communicating vessels - but simply moved to other owners - to another bank that will absorb this bank.
      2. 0
        11 March 2023 15: 55
        Quote: credo
        transfer all dollars into a virtual form, under vigilant control over their turnover under the same Fed

        Let me ask you, now what's wrong? All American bvnki are secondary to the Fed and all the data on the dollar flock exactly to one center, that is, to the owners of that very dollar. In my opinion, the Fed already controls the entire movement of dollars in the world, and knows where each virtual dollar is and who has it. It is not so easy with cash, but you need to understand that the amount of paper money is negligible compared to virtual non-cash. In the West, they are doing everything to completely eliminate cash payments, since they are little controlled. The bulk of cash dollars is in third countries and they will not go back to the USA. (By the way, the dollar in America has been blue for a long time, and only suckers all over the world have it green) It's the same with the crypt. Each bitcoin (or something else there) is registered with the owners of the system, which is due to its nature from the very beginning.
    3. +2
      11 March 2023 10: 54
      Gave loans for start-ups-dummy? Generally interesting girls dance hi
      1. +17
        11 March 2023 11: 22
        Quote from: dmi.pris1
        Gave loans for start-ups-dummy? Generally interesting girls dance hi


        It's a slightly different story... this bank decided to earn extra money and invest in government bonds, and the Fed began to raise rates and these bonds began to get cheaper... in the end, he sold them at a loss, and then decided to return the funds by selling his shares ( additional issue) for $1,75 billion....customers found out about it, and realized that it was bad, it was time to take money from the bank, and then a chain reaction went on....actually, which led to the collapse of the bank.

        And I think that we are only at the beginning of the journey, there is a recession looming on the horizon of the US economy, and if everything comes to this, then Americans will experience a roller coaster :) in the stock market, in the banking system, etc. The kids won't be bored for sure.
        1. +1
          11 March 2023 16: 10
          Quote: Aleksandr21
          the Americans are waiting for the roller coaster

          Let me clarify. Not slides but fast slalom. And not with a controlled exit from the top, on which they are now, but with a stormy fall head over heels, approximately somewhere from the middle of the distance.
    4. 0
      11 March 2023 11: 14
      Quote: tralflot1832
      Does the US have deposit insurance?

      things were moving towards this, it was obvious even during the last year, since by the end of the year the bank had not insured 89% of deposits, or almost 175 billion dollars.

      I'm not a great specialist, is "deposit" and "deposit" the same thing or is there a difference and nuances? hi
      1. +1
        11 March 2023 12: 21
        A deposit is a type of investment. You can invest in stocks, bonds, precious metals, antiques, real estate, etc. And these will be contributions or, in other words, investments. Every deposit is a contribution. Not every contribution is a deposit.
      2. +1
        11 March 2023 12: 28
        Quote: Vasyan1971
        I'm not a great specialist, is "deposit" and "deposit" the same thing or is there a difference and nuances?

        Contribution:
        Who: individual
        What: cash
        Where: bank
        Why: storage, saving, increasing funds
        Deposit:
        Who: legal entity, individual
        What: money, other valuables
        Where: bank, depository
        Why: storage, savings, multiplication of funds, securing transactions, safety of valuables
        Read more at RBC:
        https://quote.rbc.ru/news/article/61cc319b9a7947fa6e553275
  2. +7
    11 March 2023 10: 49
    Now the women of the whole world will remain without silicone?
    1. +1
      11 March 2023 12: 00
      We have a lot of wood, will go to replace.
  3. +1
    11 March 2023 10: 50
    Americans are experiencing something extremely funny in the economy, or rather in the financial sector.
    1. +4
      11 March 2023 11: 36
      Well, it’s not for nothing that this whole system of borrowing funds at interest from another debtor is called a bubble. It not only inflates like a bubble, but also bursts - sharply and loudly.
  4. +1
    11 March 2023 11: 01
    ...the bank failed to insure 89% of the deposits, or nearly $175 billion....Janet Yellen was quick to reassure them that the country's banking system was sound. Where is it even more stable with a total US debt of 31,6 trillion dollars ...

    They want to print more. Technical overlay. They did just that in 2008. As long as dollars are accepted as payment for real goods and property throughout the world, they will continue to do so.
    1. +4
      11 March 2023 14: 01
      Quote: Chief Officer Lom
      ...the bank failed to insure 89% of the deposits, or nearly $175 billion....Janet Yellen was quick to reassure them that the country's banking system was sound. Where is it even more stable with a total US debt of 31,6 trillion dollars ...

      They want to print more. Technical overlay. They did just that in 2008. As long as dollars are accepted as payment for real goods and property throughout the world, they will continue to do so.

      The only thing is that there has been a tendency in the world to increase trade operations not in dollars, but in national currencies and to reduce the share of the dollar in gold and foreign exchange reserves. China alone dropped US securities from $1,3 trillion to $850 billion in a year, not counting other countries. So things on mattresses are not so rosy. The arrest of 300 billion / d of Russian assets goes sideways for them, because, looking at this lawlessness, other countries have lost confidence in the United States and, not wanting to be in Russia's place, form their gold currency baskets, reducing the dollar to a minimum, diluting it with other currencies.
  5. +5
    11 March 2023 11: 31
    Where is it even more stable with a total US debt of 31,6 trillion dollars ...
    No comment.
    When will they finally cover everything with a copper basin?
    1. 0
      11 March 2023 19: 16
      Quote: rotmistr60

      ... When will they finally cover everything with a copper basin?

      “We cannot expect favors from nature. To take them from her is our task ”© I. Michurin wink
      1. +1
        12 March 2023 14: 01
        Maybe very soon. Why do you think they provoke wars? It was in order that they would not notice the crouching 3.14SCA.
  6. 0
    12 March 2023 15: 06
    Yes, they don’t bother much, they will print more candy wrappers for the natives.
  7. 0
    12 March 2023 21: 47
    Die tatsächlichen Staatsschulden dieses bankrotten, aggressiven
    PLEITESTAATES Namens USA sind in Wahrheit noch viel Höher...!!!

    Die GESAMT-STAATSVERSCHULDUNG der USA, also der
    VEREINIGTEN STAATEN VON NORD-AMERIKA betragen
    inclusive der Schulden aller 50 Bundesstaaten sage und schreibe:

    94,568,420,000,000,00 US Dollar, das 94 Trillionen US Dollar
    und nicht die immer wieder-leider auch hier (!!) kolportierten
    31,612 Trillionen US-Dollar, die "nur" den Schuldenstand des
    US-Bundeshaushalts wiedergen, also den Teil der Staatsschulden,
    der wie ein Dispo-Kredit seit Jahrzehnten immer weiter per "Dekret"
    erhöht wird und direkt vom US Präsidenten alleine verwantwortet
    wild...!!!

    THE ist einer der Hauptgründe, warum die USA weltweit Kriege
    führen bzw. anzetteln und vermeintlich unabhängige Staaten
    durch ihre verbrecherischen 3-Buchstaben-Agenturen ins Chaos
    und in Bürgerkriege stürzen, weil sie sich auf diese Weise auf
    Kosten der Weltgemeinschaft entschulden wollen und weil sie
    ganz genau wissen, dass diese Schulden NIEMALS mehr
    zurückgezahlt werden können...!!! Seid Jahren bedienen die
    US-Pleite-Gangster noch nicht einmal die Zinsen auf ihre
    Staatsschulden, sondern drucken wie Kriminelle Betrüger
    einfach nur immer weitere Dollars...!!!

    https://www.usdebtclock.org/

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