Should we be worried about our banks?

Economics and data editor, Ed Conway, explains interest rates, why Silicon Valley Bank collapsed and what the takeover of Credit Suisse means.

Here is a five-point guide of the banking panic of 2023 so far.

#skynews #EDCONWAY #BANKING

[Jen-lghp]

Nah- they'll be bailed out by Joe Public as per usual with zero accountability! I'll continue to worry about myself and loved ones instead! As we all should when we consider how these cretins will make our lives even poorer than before.

[robertezergailis]

There are certain aspects of globalism that have failed, and we have to recognize that fact. That is in large part because Russia, China, and their allies on the "economic battlefield" are hostile competition. They do not want to play by the rules of Capitalism, but they want to use Capitalism the way bank robbers use banks. What that means is that there are no simple or painless ways to apply tourniquets to the gaping financial wounds that have resulted from that failed globalism. The institutions that have become over invested, overly involved, in expanding their financial footprints into that failed globalist environment, in effect throwing money at the bank robbers, will have to fail. SVB, and Credit Suisse were expanding those footprints, and cozying up with hostile competition that refuses to play the Capitalist game by proper Capitalist rules. There are others that are similarly involved, in various ways, where they ought not to be involved. Why ought not ? That is because there is a need to not only stop the bleeding into a failed program of ill considered and flawed globalism, but an even larger need to restore the power of capitalization to properly Capitalist enterprises, within the nations and entities that do play by proper Capitalist rules, and that are willing to denounce and oppose the corruption that comes with hostile competition. Corruption meant to destroy Capitalism, rather than to build it up. We need massive capitalization for industrial growth, in key strategic industries, and the collapse of bad banks is going to restore that healthy capitalization, as investors become spurred to put their dollars into Capitalism friendly, not hostile, nations and entities. No more aiding and abetting the enemy, becomes the real outcome. No more influx of money to the bank robbers, and we have to remember that Communism was a start up that was carried out by bank robbers in the formation of the USSR. The bank robber tradition continues and it is time it was put to a stop.

[victorvictor]

After the decision to pay back all money on deposits over $250, 000 SVB, the money in the FDIC ran out. The Ministry of Finance had to add 25 billion and about 200 billion more in the form of a loan from the Fed. If someone else wants to take money from their bank, then they will not be given out to him. Get your money out of the banks ASAP!!!❤

[amfearliathmor]

Today I lost around £8000 in fiat currency denomination value of Gold. My Bank Account lost nothing.
They organised criminals at the banks must have printed off quite a few fraudulent GLD Gold Certificates yesterday.

[mjstefansson]

I'm more worried about a rash on my inner groin. I think it may be thrush but with Canesten so expensive, I don't want to commit yet

[hlfc]

Fractional reserves, long duration bonds. Somewhere around 90 days to hold off a bank run and it will be fine as bonds will mature. Or just the precursor to the roll out of a cbdc's 😉

[dagre]

Sky stressing the obvious, wish they would do it when reporting the Ukraine war.

[SuperMoscow]

It's worse than 2008 . Deutsche Bank tomorrow

[amfearliathmor]

Faith in the debt based Fiat Currency is the issue especially when those who tell us to have faith are planning to hyperinflate away the old financial system to bring in their 'Mark of the Beast' CBDC economic one.

[st_eunice]

Now they talk about losses due to rates going up, where is the money from the good days. Profit is mine and losses are ours. Realized gains vs unrealized losses.

[allanchurm]

City investors expect Bank of England to hike borrowing costs tomorrow as rising food and clothing prices kept UK inflation in double-digit levels.
business are haveing to rise prices to cover the extra intrest charged by the bank ...so the BOE will raise rates to try to reduce inflation CAUSES BY THERE OWN rates rise.
government are not bothered means they can get more money off the bank as a windfall charge..( a pair of them with there hands in your pocket ) run on the bank ..not our banks they will just put interest rates up again.

[The-Bengal-Boys]

Get into crypto. Traditional financial system if failing. Blockchain technology is the future. 👍

[Afromontana]

Honestly crypto is quite profitable and lucrative I’m absolutely glad earning earning 14 percent weekly profit with the help of an experienced platform who’s method are top notch and remunerative.