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bernorange

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Everything posted by bernorange

  1. The Fed never approved The Narrow Bank's application for a Master Account, but with their new guarantee for all depositors at all banks, it's like all banks are now narrow banks - but with exciting risk opportunities for the banks!
  2. Bold emphasis is mine: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm The Fed has essentially announced that they are going to backstop 100% of depositors across the entire banking system. This is how fragile the banking confidence game has become. If this ever gets tested by a loss of confidence broad based banks run, it's going to require the Fed to conduct massive (digital) money printing.
  3. Wordle 632 4/6 ⬜🟩🟨⬜⬜ ⬜🟩⬜⬜🟩 ⬜🟩🟩🟩🟩 🟩🟩🟩🟩🟩 I got lucky with guess #3. There were a lot of possible words to choose from. Daily Quordle 413 7️⃣6️⃣ 4️⃣5️⃣ quordle.com ⬜🟨⬜⬜⬜ ⬜⬜⬜⬜⬜ 🟩🟩⬜⬜⬜ ⬜⬜🟨🟨⬜ ⬜⬜⬜⬜⬜ ⬜🟩⬜⬜⬜ ⬜⬜🟩⬜⬜ ⬜⬜⬜⬜⬜ ⬜⬜🟩⬜⬜ ⬜⬜⬜⬜⬜ ⬜⬜⬜⬜⬜ 🟩🟩🟩🟩🟩 🟩🟩🟩🟩🟩 ⬛⬛⬛⬛⬛ ⬜🟩⬜⬜⬜ 🟨🟨⬜⬜⬜ ⬜⬜⬜⬜🟨 ⬜⬜⬜⬜⬜ 🟩⬜⬜⬜⬜ ⬜⬜⬜🟨🟨 🟩🟩🟩🟩🟩 ⬜⬜🟩⬜⬜ ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩 Quordle seemed tricky today, but I managed.
  4. The episode felt slightly rushed to me. I remember when I played the game that the reveal on the surgery meaning Ellie had to die was a gut punch and Joel struggled with the issue a little bit before going full Denzel. Ellie's reaction in the show felt about right. My memory might not be super accurate as it was many years ago though. I remember in the game navigating that hospital in Denzel mode was a PITA. Woe to you if you wasted and ran out of ammo. Show Joel made it look easy.
  5. Crypto took a hit with Sivergate, but it looks like the crypto market isn't panicking on SVB/Circle/USDC news.
  6. Eyes wide open: https://nypost.com/2023/03/11/why-the-us-dollar-has-become-an-at-risk-currency/
  7. Not sure how that chart was calculated, but this report paints a different picture: https://www.marketwatch.com/story/20-banks-that-are-sitting-on-huge-potential-securities-lossesas-was-svb-c4bbcafa?siteid=msnheadlines
  8. Now that people are waking up to the reality of risk in the banking system, we're facing a version of the Prisoners Dilema. Folks will act or not according to their own self interest and risk levels. FDIC limits are too low for businesses that need to carry millions in cash. SVB carries real lessons for risk mgmt and govco response will likely inform decision making.
  9. Breaking News: Social media post triggers San Andreas fault line causing half of California to fall into the sea. The Oscars have been cancelled.
  10. I didn't say that it was. The SVB failure is directly related to the Fed raising rates and is an example of "something breaking".
  11. SVB et al: https://www.surlyhorns.com/board/topic/4200-tin-foil-hats-and-the-total-perspective-vortex-redux/?do=findComment&comment=5100309
  12. https://www.marketwatch.com/story/the-10-banks-that-may-face-trouble-in-the-wake-of-the-svb-financial-group-debacle-50d6e49e?rss=1&siteid=rss ^ Click link for list in a chart with full data
  13. bernorange

    homeless

    * necro bump * Austin didn't make the list... https://www.statista.com/chart/6949/the-us-cities-with-the-most-homeless-people/
  14. https://www.kitco.com/news/2023-03-10/Senators-say-regulators-are-de-banking-the-crypto-sector-in-America.html Letter: https://www.hagerty.senate.gov/wp-content/uploads/2023/03/Hagerty-Chokepoint-Letter-FINAL.pdf
  15. Right now, I'm guessing Warren Buffet is wondering how many pennies it would cost him for each SVB dollar...
  16. Singapore bought 44+ tons of gold in January. China supposedly bought 24.9 tons in February. BIS reports inceasing amounts of gold swaps too. There seems to be a fair amount of interest in gold amongst central banks right now...
  17. The onion and squash noodle dishes in the elimination challenge looked amazing. The carrot dish didn't look like much to me, but it must have tasted great because the judges apparently really liked it.
  18. I just now posted this in the markets thread: https://techcrunch.com/2023/03/09/silicon-valley-bank-shoots-self-in-foot/
  19. This is what I read this morning: https://techcrunch.com/2023/03/09/silicon-valley-bank-shoots-self-in-foot/
  20. Regarding stuff that wasn't shown to TV audiences (watch episode before reading):
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