SVB Chatter

 There was a short odd discussion over the SVB bank scandal going on today, and talking about diversifying your assets.

So, if you had around half-a-million in bills.....it would make perfect sense back in 2005....to go over to two, and possibly four different banks....to spread the money out and ensure you had great protection.

However, if you notice now....most all banks have charges going on for your regular accounts.  Even for myself....my credit union has around $40 a year for just a plain regular checking/savings account.  

If I ran a business?  Well....by the time you figure daily deposits, fees and cost.....I might be paying out $5,000 a year for a business account through two or three banks.  

Trying to use safe deposit boxes for your 'loot'?  Even there, they want to suggest insurance fees....possibly going up into the thousand-dollar range if you wanted to stash gold or silver there.  

Dementia Story

In the past couple of days around Moscow....this poster has shown up.  It's a dementia-care facility poster....featuring President Biden as the person requiring care.   

Between state TV and propaganda BS....I would imagine around half of Russia sees President Biden in a active dementia situation.  

Putin taking him serious?  I doubt it.  

SVB Path For Next Ten Days

 First, I would expect every single person with an account...no matter where they live....to be at the bank in line to remove their cash remaining.  I expect the regulators to have some policy that you can only ask for x-amount (probably $10,000) per week. 

Second, I would expect well over a hundred 'gangs' to be outside the banks and waiting to jump the guys with cash exiting....somewhere.  Maybe on the street....maybe at home.  It wouldn't shock me if you had well over a hundred robberies on day one.

Third, President Biden will have to appear somewhere and make a 2-minute comment.  Sadly, he'll refer to his days working for an imaginary bank and he was always working for people's trust.  

Fourth, a lot of non-SVB people will enter their own bank, and try to move cash into a safe deposit box....finding more limits made up out of thin air, and scaring the crap out of the banking crowd.

Fifth, social media chatter will unnecessarily scare millions of people into viewing this as a 1929-like event.  

Sixth, by the end of the week.....at least three medium-level banking officials (unconnected to SVB) will have committed suicide from across the nation. 

Seventh, forty-odd Senators (Republicans and Democrats) will be hauling up some 'save-them' cash for SVB, with a lot of people asking why are you saving them?

Eighth, a number of CNBC financial analysts will be BSing the public, and getting extremely ridiculed over the chatter.

Ninth, a number of Silicon Valley start-up operations will suddenly be in a stumbling pattern....unable to pay employees and people planning an exit strategy out of Silicon Valley (maybe as early as next weekend).

Tenth, if you were looking for encouragement to leave California....this will figure into the top ten reasons to resolve the situation.  

Note: Reminder here....the 1929 stumble was about banks presenting themselves as protectors of your assets, and waking up to find that between the clerks and executives....they'd all spent years robbing the bank vault/books.  The cash simply wasn't there.  That reality created the Great Depression.  

The 'Other' Earth Guy

 I saw this story in the AM today.  

Basically....down in the Palm Beach area of Florida....on Worth Avenue, cops got called.  There was a naked guy walking down the street.

So they arrive....and the guy presents himself.  Jason Smith, age 44.

He says....that he's from "a different earth.” 

Cops probably stood there a minute or two....thinking there's some drug issue involved, and then removed Smith....charging him up with indecent exposure, and disorderly conduct.  

The lack of clothing?  It would appear that he watched a 'Terminator' movie or two, and that's how you arrive on Earth.

The different Earth scheme?  Well...that's a different science fiction series....'Fringe'.  That's where the character Walter Bishop figures out how to cross from one Earth to another.

Course....maybe he's telling the truth and the true Jason Smith is shaking his head over this recent arrival of the 'other' Jason Smith. 

Sometimes....you wonder about stories like this.  You'd like to believe out of the 1.5-million crazies in America....just once, you could get the 'other' Earth situation to play out.  

(Note: I should say...for the record....I consider 'Fringe' to be the craziest science fiction series ever devised)