March 11, 2023 at 9:57 pm #131011
“The Fed should IMMEDIATELY buy all the securities/debt the bank owns at near par, which should be enough to cover most deposits,” Cuban wrote as part of a lengthy Twitter chain Friday. “Any losses paid for in equity and new debt from the new bank or whoever buys it. The Fed knew this was a risk. They should own it.”
“If the Fed doesn’t own it, trust in the banking system becomes an issue,” Cuban argued. “There are a ton of banks with more than 50 pct uninsured deposits.”
https://www.foxbusiness.com/markets/silicon-valley-bank-collapse-mark-cuban-says-fed-immediately-take-actionMarch 11, 2023 at 11:06 pm #131012aspnazParticipant
With all due respect (and I do highly respect most of your input, when you’re not overwrought) you don’t know very much about the often cited (but rarely accurately represented) Jesus.
I was raised in a “speaking in tongues” evangelical family. Everything we did was related to God as my father was completely dedicated to God which was why I was raised in Africa, so that he could work his career helping the local poor in the name of God. Unless there is even one scrap of the Jesus story that I did not hear – there isn’t – then I consider myself well informed on the subject. I am not disagreeing that the Jesus story is about a good man, what I am disagreeing with is that it is the solution to our problems. Sure, if everybody obeyed the teachings of Jesus then the world would be a better place, but they won’t in the same way as people in communist countries will end up being corrupted by greed, so why consider this to be relevant when looking at society. Other societies, such as China, do not have a God or a Jesus story but do have a moral framework, morals without religion, so what of them? Should the west impose its God and Jesus story on everyone on this planet? Is the western way the only way?March 11, 2023 at 11:43 pm #131013
6 years + 10 = 16 1967
….but yeah McGonagle and USS Liberty came to mind when I wrote the post. I spoke to McGonagle and later Lloyd Boucher in San Diego a long ago.
What a difference a year makes in the history’s treatment of those two men McGonagle awarded the Congressional Medal of Honor and Boucher humiliated publicly.
Boucher never lost contact with his sailors or neglected their needsMarch 11, 2023 at 11:58 pm #131014D Benton SmithParticipant
Ah ha. Back in the day (like half a century !) we called them PK’s, Preachers Kids. , They were deservedly Notorious for the most part, and trending to be wild ones, too. We cut them some slack because we knew of their burden and were glad that a similar fate had not accidentally befallen us through no fault of our own.March 11, 2023 at 11:59 pm #131015
@Dr D Rich: I typed “16” years, but this keyboard has a lot of marginal keys, and “1” is one of them.
“While monitoring North Korea in January 1968, Pueblo came under attack by North Korean naval forces, two Soviet-era submarine chasers, four motor torpedo boats, and two MiG-21 aircraft. U.S. Naval officials and the crew have claimed the ship was in international waters all the time. North Koreans attacked and ultimately boarded the ship, killing one man and taking the ship and her remaining crew of 82 to the port at Wonsan. For the next 11 months, Bucher and his crew were held as POWs by the North Koreans. The crew reported upon release that they were starved and regularly tortured while in North Korean custody. This treatment allegedly turned worse when the North Koreans realized that crewmen were secretly giving them “the finger” in staged propaganda photos, an action the crew had initially explained away as being a “Hawaiian good luck sign”.
Bucher was psychologically tortured such as being put through a mock firing squad in an effort to make him confess. Eventually, the Koreans threatened to execute his men in front of him, and Bucher relented and agreed to ‘confess to his and the crew’s transgression.’ Bucher wrote the confession since a ‘confession’ by definition needed to be written by the confessor himself. They verified the meaning of what he wrote, but failed to catch the pun when he said “We paean the North Korean state. We paean their great leader Kim Il Sung” (“We paean” sounds almost identical to “we pee on”)”
“Bucher died on January 28, 2004. He was buried at Fort Rosecrans National Cemetery in San Diego, California. ”
My Dad wanted to be buried at Rosecrans, but it was full, and he got buried at Miramar.
I left my appendix at the Naval hospital in Camp Pendelton, right after my 4th birthday April 1962.
I am sure we know other places in common.March 12, 2023 at 12:05 am #131016
Further proof Christopher Wray, Nance Pelosi, Generalissimo Mark Milley et al WERE the January 6th Seditious InsurrectionistS. They remain unindicted and not subject to pretrial confinement for 3+ years runny. Btw, I was a court martial judge. So I can advise how to take down that fat arrogant f*ck Gen. Milley
“Proud Boys J6 Sedition Trial Halted After Leaked Chat Logs Show FBI Agent Said Her Boss Ordered Her To “Destroy Evidence””
“The feds’ political persecution of the Proud Boys took a wild turn after unintentionally leaked chat logs from FBI Special Agent Nicole Miller revealed she said she was ordered by her boss to “destroy” “338 items of evidence.””March 12, 2023 at 12:15 am #131017
@DBS: Yeah, better to just be another military brat than a preacher’s kid… My Grandmother Day did spend 6 yeaars growing up as a missionary child in China. Her father was high in the “Methodist Episcopal” church, as it was then known. They went to the British embassy when there were rebellions. She knew a lot.
My Grandfather Williams rode into the Texas panhandle on a covered wagon. One of his sisters got “brain fever” during the trip, lived, but always needed to be taken care of somewhat. He became man of the year at Simmons College (later Hardin-Simmons U.) and joined up as an officer in WW-1. His morse code was very good, so he was made a radio operator. Then he showed great talent with a pivot-mount machine gun on his first try. He was made Observer-Gunner in the back of a Spad. That was only the beginning of his life. He attended the Sorbonne, Harvard grad school, traveled the world on a “tramp steamer” as a “radio man”, raised a family during the depression, built them a house with his own hands, was a Major in OSS counter-Intelligence in WW-2, and I will stop there, but he gained some fame and a long FBI file after that.
Robert H. Williams lived to be 96. I will never measure up, and he always loved me and was always proud of me. (Even when I did not deserve it.) One can Google his name these days. My cousin said he downloaded his long FBI file.March 12, 2023 at 12:43 am #131018OroborosParticipant
87% of all deposits uninsured at an average of $4 million per account
Sounds astonishingly reckless to me.
Plus the CEO and other higher level bank officers were starting to unload their stock.
Like seeing the Capt of the cruise ship having all his stuff put in the life boats. Notice to see here, move along…
I learned in 7th grade from my math teacher, who also sat on the board of a local bank, to NEVER put more money in a bank than FDIC insurance would cover. Like never ever.
I think his parents and grand parents were wiped out in the 1930’s bank depression. He seemed acutely aware of the dangers and warned us students.
That was in 7th grade, in the 1960’s
I was plenty old enough at 13 to know what it all meant. No excuses for ‘adults’ at this point not to be aware of the danger.
The FDIC insured for $10,000 per account at the time I still remember the number because the math teacher put it on a test as extra credit.
At the time, 10k seemed like a huge amount of money.
From Ed Dowd:
“The buried lead on #SBV is that they got caught sideways on losses in relatively safe mortgage backed securities.
They made a 10 year bet that went south on interest rate increases.
It was interest rate risk not credit risk.
Now how many other banks made this mistake?”
Well, because the investment side of the bank wasn’t isolated from the retail banking side, the investment side got to co-mingle the customers money in risky bets.
Sound familiar to anybody?
Oh, that’s right, they figured that one out in the 1930’s but repealed the laws protecting people in the 1990’s under the Blood Drinking Satanists of the Clinton Crime Family.
More from Ed:
““Have you ever heard of Treasury cash management?
Ford doesn’t have all their money in one bank but rather a short term cash management portfolio.
Any company that has all their money at a bank is open to this risk.
So you want tax payers to bail out stupidity?
Three things are needed to facilitate the rollout of the Central Bank Digital Currency slavery system.
1) Make holding money in banks feel completely unsafe.
2) Destroy competitors or make them unattractive as viable alternatives (bitcoin, etc)
3) Economic collapse then tie welfare to CBDC.
All are in play.
SVB had a ton of mortgage backed securities premised of steady low interest rates.
Powell at the FED royally screwed their pooch by constant relentless interest rate rises.
Think it’s by accident interest rates are climbing to infinity?
Think it’s going to stop????
I hate Silicon Valley and the Techtard® Turds who run it like a crap shoot.
They’re finished, finally.
They are parasites who add nothing useful to humanity.
And they aided and abetted Covid mass murder to make a quick buck.
Techtard®, eat dirt and die.March 12, 2023 at 12:53 am #131019OroborosParticipant
To Siliconjob Valley, the beautiful privileged few
You look marvelous
Smokem if you got’emMarch 12, 2023 at 1:13 am #131020
Rosecrans, as solemn a cemetery as Arlington and raison d’étre to end war for all time.
Point Loma, Rosecrans and Cabrillo National Monument are perhaps the most wondrous of San Diego’s natural allure.
Although, Give me Coronado Island anytime anyway anyday.March 12, 2023 at 3:03 am #131021aspnazParticipant
Dr D said
Great! Okay, where are we? Oh yes, summed up in this comment on the comment:
Anonymous Conservative Commenter says “If this theory is correct, it again implies our side is so incompetent, weak-willed, cowardly and ineffective that they just took it like a bitch and allowed it to happen. The entire threat was gammas playing word magic and saying “uhm actually I made a new rule that says I win, you lose, so you lose Trump lololololol” and literally NO ONE said “f–k the rules, we’re examining the fraud despite your crying.”
Very interesting perspective. Thanks for that.March 12, 2023 at 3:59 am #131023D Benton SmithParticipant
Rules based “gatekeeper” systems of governance can be gamed by means of using AI’s to plot a course through the nearly infinite number of possible pathways through to a desired end-state. By opening or closing just the right gates literally any end-state can be achieved. It’s very much like hacking a computer.March 12, 2023 at 4:10 am #131024AfewknowthetruthParticipant
Wow, what a pair!
“Being attacked by people I have no respect for doesn’t even rate.”
And some real surprises!March 12, 2023 at 5:40 am #131025AfewknowthetruthParticipant
My mistake. Morris and Tucker are not a pair; they are a combo.March 12, 2023 at 5:51 am #131026SeaBirdsParticipant
Jim Kunstler.. in top form
Christ 2024 Save America
Well someone needs to. Must admit to much chuckling reading your first post, and can identify somewhat, having been raised in a strict religious household. What finally got me was certain ‘preacher men,’ up on their podiums, stroking their egos as they pontificated, admonished, coerced their captured flock by manipulating their fears and emotions. You could make some connection with the politicians of today. – Ardern and cohorts, spinning vakzine BS every day, – the staring eyes, willing people to believe the spin, to trust their leadership.
@DBS But I can still accept that Christ’s teachings are for the good, have stood the test of time, and if truly upheld, the world would be a better place.
I hope you don’t mind me saying, but I think that if Robert H. Williams was alive today he would still be very proud of you.
Blue tarantula. I think that’s a fiddle engraved on its back.
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