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Forwarded from KanekoaTheGreat
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.@DavidSacks: "There are 40,000 small businesses who use SVB, and 10,000 of them were in danger of missing payroll on Monday and having to lay off employees because they couldn't get to their cash...

If you subject small businesses to the risk of losing their deposits, we are going to have runs on the banks just like that Jimmy Stewart movie, and we are going to be right back to the Great Depression...

Our problem now is so much bigger than SVB. I mean, trading of Charles Schwab, a hundred billion dollar company, was halted today. The stock market has now halted the trading of half a dozen regional banks.

We are now in a much bigger situation, and this discussion needs to move past what we do for SVB and its depositors because the primary reason why I want to protect depositors is to make sure we don't have runs on other banks."

https://twitter.com/KanekoaTheGreat/status/1635472294406676481

@KanekoaTheGreat
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One day, we run out of โ€œtomorrows.โ€

Today is all that really exists - for yesterday is gone forever and then tomorrow isnโ€™t here yet.

It is better to burn out than to fade away.
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Forwarded from The Washington Pundit (Nina Eacey (DrE)๐Ÿ‡ง๐Ÿ‡ท)
Etsy, an online selling platform for artists, crafters and vintage resellers used SVB for banking.

Etsy has now told its sellers to expect delays in receiving funds for their sales.

https://www.nbcnews.com/business/business-news/etsy-delays-payments-sellers-due-silicon-valley-bank-collapse-rcna74475

Speak Truth to Power | @TheWashingtonPundit
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Forwarded from Techno_Fog
From Zero Hedge -

โ€œReal hourly earnings -1.3%, down for a record 23rd consecutive month.

This means that just two months of Biden's presidency have seen inflation-adjusted wage growth, and real earnings have been negative during 92% of Biden's tenure, an unprecedented achievementโ€
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Forwarded from Disclose.tv
JUST IN - Moodyโ€™s cuts outlook on entire U.S. banking system to negative from stable, citing a "rapidly deteriorating operating environment."

https://www.disclose.tv/id/100122/

@disclosetv
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Forwarded from Disclose.tv
JUST IN - Syria's Bashar al-Assad arrives in Moscow to meet Putin.

@disclosetv
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