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Banks don’t fail very often, and bank runs appear to be mostly a thing of the past. The last bank failure in the United States happened in 2020 when a small bank in Kansas failed. That two-year streak was broken this Wednesday with the failure of the crypto focused bank Silvergate, and on Friday with the failure of Silicon Valley Bank.
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41 Comments
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SBNY (Signature Bank) just got closed by Regulators!
I'm Lost…
🤣🤣
Kinda funny that the conservative approach to crypto was slaughtered by Austrian economics.
Given the timing, I honestly thought this video was about SVB lol. sounds like you have another bank run video to make next week Patrick! great work as always
Lighting Patrick., lighting my friend. Stop being cheap and hire someone. You're to important, and sharp I must say, I'm interested in the shoes.. to be sitting in bad lighting. Love ya brother.
Two days later and everyone is talking about Silicon Valley Balm failing
atonal
"Your bank is safe and effective"
Brought to you by your FED.
Patrick, is there a risk for consumers/depositors of a fintech company that goes out of business but whose partner (FDIC-insured) bank is fine?
3 banks fail in 3 days…silvergate, SVB, and signature. What’s going on Patrick?? Are they All related or just tied to raising interest rates and poor capitalization at each bank?
Patrick Boyle, secretary of the treasury.
Don't worry, the Biden administration will bail them out with our tax payers money's… I'll assure you.. and that's called socialism..
I feel like this is more crypto embezzlements. If there we’re trackers of where the money fled to where would it lead?
Banks don't fail very often? You are lying to yourself and your viewers… The facts are that there are multiple bank failures every year except during the two years COVID break – yes, COVID literally stopped bank failures for a while.
FED Old farts will never allow any sanity in banksters world 🌏………… Bail out any moron bankster who gambling and lose the capital ……………………………………………………………………………………………………………….2008 lessons was never learned by this old farts …..
I am one minute in and I am cackling uncontrollably – Patrick's comedy is great as always
You explain this issue so well. And I appreciate your dry wit.
What are some good ways for banks to negate interest rate risk?
Swaps?
Bankra rus just is the play game of US capitalist.why US govvernmet don`t. Send 2 bilioon dollars to hel Silicon Valley LBank not bankrup
SBF only just found out what bank fraud is. hahahahah.
So this isn't really the beginning of banks collapsing. This is fallout from financial institutions that "banked" on crypto and are now paying the price?
I started watching your videos when you had 22k subscribers. I always enjoyed your economic view on everything going on.
What do all the crypto banks and FTX have in common Sam Bankman FRIED. He bought clout in Washington
Several times he mentions the losses from Fed interest rates going up. But he pins the problem solely on volatility in crypto as if we didn't just hear what he said…
If i had a million dollarson deposit with SVB it is now Government guaranteed for how long ?
If I have a million dollars on deposit with another bank, which is uninsured – can I transfer it to SVB ? And will it now be insured ?
So by holding interest rates so low, the only way banks could make money was to buy long term treasuries. By also buying treasuries itself, Fed made sure there was so much demands for treasuries so to keep treasury rates low which of course was beneficial to the govt so it could run large budget deficit at low interest rate. So the fed screwed banks so govt could borrow atvlow rates.
Ease up on the filter next time. Good content. But, something is off when I watched it compared to just listening to it.
6:20 "the last thing a bank needs is to be accused of money laundering". LOL. Literally every major US-regulated bank has not only been accused of, but proven to have engaged in, money laundering.
Very poorly produced video.
With your static setups I think you should ditch the lav mic and invest in a shotgun mic on a boom stand
All of this mumbojumbo is just like the people running these scams. The bottom line is that a lot of people have the money to lose thousand and millions. The suckers are the people who think they are in with the money makers. These are the bridge jumpers that weren't smart. They made themselves believe that they new what they were doing A lit of big shots and semi big shots can afford to lose tons of money. It's the other fools who end up looking stupid and losing lots of money.
you really hate crypto! Even for the banking sector failures you hardly try to blame cryptocurrencies ! Of course you provide no real evidences to support your accusations . In reality NOBODY cares and nobody needs stablecoins, you can simply self custody your Ethereum or even better have it staked on a non custodial validator and be safer than any Bank account holder in the world! You can have Exchange accounts EMPTY and every year you can transfer your earnings for sale at the safest one. In that way you will never fell a victim of any type of failure, as I am since 2012 in crypto and NEVER lost any! There are Exchanges who work for more than 10 years and never lost a penny, how hard it is to find a safe one for the next couple of days? In my case it wasn't hard at all!
"Part of the reason he is living with his parents, and might have a new roommate soon", classic.
SVB also collapsed. They bought low interest yield bonds, which lost a lot of value when the interest was raised multiple times by the FED.
LOL! 🤣😂 Like I said… Patrick Boyle is an Absolute Star with his Comedy and insightful breakdowns in Finance. Top 12 always means 12 and it's the most ridiculous Brag that makes observant people wonder WTF because that means 11 Auditors passed on you?
Bail out or bail in, take your bets on how they will screw us over.
how should they have hedged their risk, like ogld and houses? iron copper cobalt?
With all the respect, trying to focus the video named "Bank Run" solely on Silvergate for 22 minutes and then talking about SVB does not seem sincere but a targeted attempt. Please first of all do answer the following question first: "Which banks in US economy including the largest ones are in risk due to rising rates? What is the loss due to significantly lower market valued bonds that they are holding? (and by law that they have to hold)". This is the main issue here and the video should have focused on this.
Detailed and straight with a tint of comedy… Thanks Patrick
These bank failures under Biden’s government is not a laughing matter; this could be just the starting point of a much wider recession caused by terrible government policy/spending.
Silicon Valley helped to elect Joe Biden, and now one of their own banks has lost the ability to give them back their money.