Weekend Show – This Weekend’s Show Is All About Where To Position Short and Long Term
Welcome to the Weekend Edition of The KE Report. Since markets continue to chop sideways without much direction we feature a fund manager and two technical traders all sharing a balance of their short and long term strategies.
Please keep in touch with Shad and I through email. We love hearing your thoughts on the markets, our guests and the companies we feature each week. Our email addresses are Fleck@kereport.com and Shad@kereport.com.
- Segment 1 – Dana Lyons, Fund Manager and Editor of The Lyons Share Pro website kicks off the show by sharing what his financial models are telling him about where the markets go from here. We focus on the value sectors which Dana thinks have the best upside.
- Segment 2 – TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website shares his short term trading strategies for these sideways markets. We also focus on the individual sectors TG has a bullish outlook for.
- Segment 3 and 4 – Richard Postma, AKA Doc wraps up the show with his long term technical outlook for gold, gold stocks, silver, US markets, US Dollar, oil and base metals.
In the very near future, all banks will be a thing of the past, you will be issued a debit card which will feed to a computer sub-station and then on to a master computer room in the depository at The Federal Reserve. Everything will feed back to a chip planted on your body and the only reason you get a debit card is to make you think you are still carrying out your own financial transactions. DT😉
The plot Thickens: If Chris Whalen is correct that The Fed raising interest rates so quickly has put at risk conservative banks that have taken on “fixed rate” low interest financial instruments, then The Fed’s failure to immediately act by lowering interest rates, may start a series of bank failures. If they intend to destroy regional and local banks, it is another nail in the coffin of Democracy and another feather in the cap of world dominance by Central Bankers. Monday could be critical.
Thanks for the great show.
Much appreciated Charles. Yes, another good batch of discussions and insights shared from Dana, TG, and Doc.
Seems that DOC was to optimistic in February 🙂
Are many gold stocks not already really cheap again, even if we retest 1620?
Endeavour Mining might sell their mines in Burkina Faso
Always liked how the company is managed, but never the jurisdiction. In more and more African countries it gets difficult to operate
West Africa in general is still a very productive area for gold production, and each country has it’s own pros and cons, and should be looked at separately and not just lumped in with all of Africa.
Africa is huge with many different countries, government styles, customs, and business climates, including receptivity to mining. South Africa is totally different than central Africa with countries like the dismal DRC, and Eritrea is totally a different millitant regime than the rest of the Nubian Shield in Ethiopia and Egypt. West Africa is quite diverse, and in that article about Endeavour mining that you posted, they aren’t leaving Africa, but rather just interested in possibly divesting their assets in Burkina Faso (which is an odd move, because they acquired Teranga, Semafo, and Savary with assets in Burkina Faso just over the last 2 years).
Granted, those companies also had assets in other West African countries like Ivory Coast and Senegal which they are still very constructive on in that article.
We just had Newcore on the show tgis last week, and Luke the CEO pointed out that Ghana is still one of the best gold producing countries on the planet, with many majors and mid-tiers operating there. He mentioned a project going from brownfields to prodution and getting fully permitted in a year in Ghana, whereas in the US or Canada that typically takes 5-7 years.
Many of the West African countries are far more efficient at permitting in reasonable timelines compared to North America, and the costs are better. We’ll have Segun the CEO of Thor Explorations on the show again early next week, and they’ve done a stellar job of going from explorer to developer to producer in Nigeria over the last few years, with low costs, easy permitting, and a solid ramp up into commercial production last year. They also have a big development project growing in Senegal.
As fir Burkina Faso, it is getting more militant with the Muslim invasions and battles along the Northern border, like the team of Iamgold staffers that was kidnapped for ransom by extremist groups last year. However further down in the greenstone belts many countries (like Teranga, Semafo, Roxgold, B2Gold, Sarama, etc..) were away from all of that for a time. Now Endeavour Mining has most of that in Burkina, except the ex-Roxgold assets that are now held by Fortuna Mining. My FSM position is the only exposure I have to Burkina these days, but I used to be involved in all the previously mentioned companies.
Endeavour has always been the large consolidator in Burkina Faso, so I’m not sure what other major they’d divest their assets there to? Barrick/Randgold got out of alot of their African assets, and the Acacia subsidiary ran into a huge tax crisis in Tansia, causing them to pull out of Burkina. Maybe a Chinese mining conglomerate would be interested?
It will be fascinating to see how this plays out in Burkina Faso for the mining industry.
The Gold Market will be a thing of beauty on Monday! DT
On March 10, Council of Economic Advisers Chair Cecilia Rouse told reporters that US Treasury Secretary Janet Yellen was closely monitoring the situation concerning Silicon Valley Bank (SVB) after it collapsed earlier in the day.
The future of First Republic Bank – the 14th largest in the United States – has triggered concerns amid speculation of a “domino effect” in the wake of Friday’s bankruptcy of Silicon Valley Bank, media reported.
Has Bobs prediction begun? Has anyone heard anything else?
Jamie D……….. was a beneficiary of Silicone Valley collapse……….. see zerohedge today
While $80 billion is not a huge sum but still a lot of money lost at SVB, This will have ripple effect with start ups and probably more tech layoffs in coming months. Looking at charts of some Semi conductor companies, it almost looks like current rally is waiting for a reason to burst. While I agree with TG that Semi has a lot going on due to AI but I think it’s already priced in. One such company is Lattice
https://stockcharts.com/h-sc/ui?s=LSCC&p=M&yr=20&mn=2&dy=0&id=t9414586029c&r=1678553811826&cmd=print
” TIC_TOC ” … SVB INTERNATIONAL FALLOUT :UK & EU.
Eric Coffin gets it. He’s so bullish the base and most metals medium to long term that he’s not sweating the short term risks. He says if a stock he owns “drops 20% or whatever” he’s not going to be losing any sleep. He’s more interested in being positioned in good development and exploration stories that have real upside potential.
The whole presentation is worthwhile. Eric proved competence to me over 15 years ago.
https://www.youtube.com/watch?v=10PVS8kdTYA
Yep, Eric Coffin is a sharp dude, and has proved his competence for the last 2 decades in the mining space. He’s done a good job with the MIF presentations and conferences, and often offers cogent points over ceo.ca on a number of companies newsflow.
Agree on Eric Coffin. He can pump out some great stuff on paper (kind of like someone on this site you can see above who I won’t name). He can also get bleeped on national TV by Pricilla Goodbody as if he cared or thought about it.
IPT gave its quarterly MACD (12,26,9) sell signal last year, two quarters ahead of GDX and SIL and one quarter ahead of SILJ. GDXJ and XAU do not yet have such sell signals but will if the sector doesn’t improve by the end of this month.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=Q&yr=15&mn=0&dy=0&id=t2196674547c&a=1334761567&r=1678558783580&cmd=print
It would be bearish if IPT closes the quarter at/below .25 cdn…
https://stockcharts.com/h-sc/ui?s=IPT.V&p=Q&yr=30&mn=0&dy=0&id=p15338064961&a=1364903806&r=1678568849285&cmd=print
It wouldn’t matter to the market if IPT went to zero. Or to the moon. Where, until recently you predicted it would go for more than a year and a half.
Great chart, explains everything.
Who said IPT mattered to the market? Not me. As for “going to the moon” who gave a timeframe? Not me. I like the company more than ever and it has zero chance of going to zero unless the Mexican government does something extremely stupid.
As Chen Lin said recently silver is the new lithium. And I’ll add that zinc isn’t far behind. IPT is perfectly positioned to benefit massively.
Brixton Metals is down 45% since the last day of 2022, the last time I bought it at 13 cents. I’ve got a stink bid in at 9 cents. If there is an absence of bids it might get filled. Next week could be a whole new ballgame. DT
DT, I’m getting ready to purchase some brixton again. Purchased some impact this past week. Also began to accumulate some cde this week. Starting to purchase a biotech I owned at higher levels in the past but sold when it had a run. This year should be the best year yet to take some nice positions in stocks but you’re going to have to wait some for the next bull run.
Hi Richard, fear seems to be the order of the day, people listening to the troubles in the financial world creates an atmosphere of distrust and destroys confidence. There is fear in the marketplace that could turn into a mob psychology of panic. Action and reaction only this time it could be to the downside and create wonderful opportunities for those who can sit and wait and buy. DT
DT
I have been watching Brixton (OTC: BBBXF). Although I do not own any shares, it is on my watch-list for a small, long-term investment in an explorer with exposure to copper (My other companies are Gold, Silver, and CRDs)
Here is my chart:
Hi Brian, it will be fun to see how this turmoil plays out next week, I think there could be some fantastic bargains soon. DT
Energy complex looks ripe for a correction
https://stockcharts.com/h-sc/ui?s=XLE&p=M&yr=20&mn=2&dy=0&id=p53380020626&a=1371343123&r=1678566429523&cmd=print
NatGas: https://schrts.co/dXkmIyAF
Buy soon (Monday/Tuesday)?
XLE – nice Fib convergence combined with support/resistance at 65
I am hoping that next week has some kind of turn around in the metals but I have mixed emotions. We are dealing with Politicians and Criminals who have a tough time “ever” admitting responsibility or fault for their actions. Although everything we know about metals indicates otherwise, I believe their personality or character disorders will continue to drive them to destroy (or try) the markets before admitting a mistake and allow them to correct naturally. They prefer to take everything down and deny. The sense of power in success carries over to creating failure of others. Win win.
I visited one of the Big Five Canadian banks this afternoon. Of the three ATMs, two had signs stating out of cash. The third was only dispensing 5 dollar bills. I questioned a teller about this and was told the situation was “unusual”. Anomaly?
All banks, pretty much, can’t stand a run on the bank as it is a “ fractional” reserve system … which means they only have a fraction of reserves on hand. The silicon Valley bank really didn’t do anything wrong like the Wall Street bank’s fraudulent derivative markets, off balance sheet debts or risking customer accounts. But instead they invested conservatively in fixed rate instruments that when The Fed raised interest rates they couldn’t move them out as no one would buy them under market. This took down the book value and opened the door to shorts and loss of confidence by customers and thus … a run on the bank they couldn’t cover. Unless something is done quickly to drop rates, more bank failures will occur … the cause of failures and failure to stop more defaults are all due to Fed action. It opens the further question that if the Fed fails to act quickly, whether that is actually the agenda to destroy regional and local banks. It is very possible The Fed is not making mistakes…
Very possible indeed. Powell at Jackson Hole (note his demeanor in video versions):
“That brings me to the third lesson, which is that we must keep at it until the job is done. … The successful Volcker disinflation in the early 1980s followed multiple failed attempts to lower inflation over the previous 15 years.”
https://www.federalreserve.gov/newsevents/speech/powell20220826a.htm
CRASH!!!!!!! It’s the end of an economic era. Money printing to cover the FDIC insurance will begin shortly, it is also the end of The American Empire. You can’t keep 800 military bases around The World financed with funny money. This time the economic disease is deep seated. DT
The physicians in Washington will be trying to save the dying patient with soothing words because that is the only tool left. DT
What is chart of financials telling us?
https://stockcharts.com/h-sc/ui?s=XLF&p=W&yr=5&mn=1&dy=0&id=p95401479023&a=1371559994&r=1678634257663&cmd=print
There’s never just one cockroach.
Looks like the Mainstream Media is putting on Central Banking and Wall Street Insiders to “pump” lies about the Banking Problem. Not a single mention yet about”interest rates”. So far, it appears the plan is bank failures with Central Banking receivership. That reinforces Central Banking take over of all banks. They appear reluctant to deal with “truth”. Misdirection is the verbal agenda.
Just keep an eye on the S&P Bank ETF………KBE…….it has just broke last June support……….momentum to the downside ……..this will get the FED’s turning their heads if it continues emploding !
KBE (Weekly): https://postimg.cc/tnpGzbZx
Bullish Gartley Golden ‘C’ (34.51)?
KRE (Weekly): https://postimg.cc/z3Ly2bDj
Deeper Gartley Golden ‘C’ (39.93)?
a good heads up on this Larry for coming week
The significant lows for IPT of Q4 2001, Q4 2008 and Q4 2015 happened to be 28 quarters apart. In 2022 IPT’s low was 27 quarters after the 2015 low and if there was a new low this month it would be 29 quarters. Either way, does it make sense to doubt that a major 7 year low is happening?
https://stockcharts.com/h-sc/ui?s=IPT.V&p=Q&yr=30&mn=0&dy=0&id=t6744773571c&a=762276021&r=1678647467583&cmd=print
The last time KBE smashed its 200 week MA like this was just over 3 years ago as the scamdemic kicked off.
https://stockcharts.com/h-sc/ui?s=KBE&p=W&yr=3&mn=6&dy=0&id=p22315257136&a=1140433241
KBE crashed 10.6% vs SPY last week.
https://stockcharts.com/h-sc/ui?s=KBE%3ASPY&p=W&yr=3&mn=11&dy=0&id=p68143524336&a=1310814467
Some nasty looking charts.
Off the chart. Literally.
KRE looks even worse than KBE:
https://stockcharts.com/h-sc/ui?s=KRE&p=W&yr=3&mn=6&dy=0&id=p64272132546&a=1371645130
Anybody heard from Jim Grant on the Banks?
Priced in gold, the Nasdaq is on its first weekly MA “death cross” in 17 years:
https://stockcharts.com/h-sc/ui?s=%24COMPQ%3AGLD&p=W&yr=5&mn=0&dy=0&id=p12090270441&a=1029504727
That chart only goes back to 2019?
That’s 5 year chart because a much longer weekly chart would lose detail and clarity. But I’m glad you brought it up because I was wrong. It was actually 21.5 years ago that we saw the last such death cross which makes more sense…
https://stockcharts.com/h-sc/ui?s=%24COMPQ%3A%24GOLD&p=W&yr=25&mn=0&dy=0&id=p42774484024
Wow Nasdaq doesn’t look good here for sure.
Changing the topic, I’ve been following this Perth Mint story. Chinese have accused them of shipping doped gold bars while the Mint claims they just sprinkled in a little silver and copper to bring the bars as close as they could to the .9999 standard, thus maximising profit. Chinese are refusing to ship the gold back, claiming they have laws against exporting gold, so the Perth mint cannot verify the Chinese claim.
If I ever need another 1oz Kookaburra, no problem getting it from Perth Mint. They can sprinkle in some silver or copper as long as it’s stamped .9999, I’m fine with that.
Fed to hold meeting on Monday in wake of SVB’s swift collapse, seeks to avoid widespread panic
https://www.streetinsider.com/Fed/Fed+to+hold+emergency+meeting+on+Monday+amid+SVBs+swift+collapse/21359182.html
Funny. Such headlines are sure to cause the panic they’re trying to avoid.
Another bank just went Bust, Signature Bank, it was closed by NY Regulators. DT
And then there were …
“Superintendent Adrienne A. Harris announced today that the New York Department of Financial Services (DFS) has taken possession of Signature Bank, pursuant to Section 606 of New York Banking Law, in order to protect depositors. DFS appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of the bank.”
https://www.dfs.ny.gov/reports_and_publications/press_releases/pr20230312
Joint Statement by Treasury, Federal Reserve, and FDIC
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth. …
The enormity of that is found in the second paragraph:
“After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
Wow. To hell completely with moral hazard!
THAT is how you launch a gold bull market!
And the name of game is hyperinflation. Then they will launch a war. What comes first, hyperinflation or war?
Good question. My guess is war since the masses will suffer greatly way before we technically have hyperinflation. So, scare and distract them they will.
So they have a problem … The Fed raises rates, the Banks can’t get liquid, a run takes place and The Fed solution is not dropping rates but potentially massive bailouts with money that doesn’t exist, tax payers holding bags, Regional and local banks fail, receivership occurs, bank assets go on books of the Fed. What a plan!
What about a bail in, when will that happen?
Probably saving that strategy for the bigger banks which they won’t be able to bail out this time around.
All roads lead to inflation and those who understand the system have known that for a very long time. The powers that be have no choice and maybe now some of the deflationists will start to understand that.
Figuratively speaking, a brick of gold is going to hit Powell upside the head for lying that the first bout of inflation was transitory. IMHO, he wanted full steam ahead inflation to avoid deflation. His reaction was to start raising rates late and to not stop raising rates until something broke, hopefully gold, now we have the fallout from his folly of not trying to bag the perfect interest rate. He would have had to stop raising around 3% but the price of gold wouldn’t go down enough. He kept going up to break the price of gold and the result is failed banks along with underestimated harm to other countries.
May the Ivy Leaguers live in interesting times…
Like TG mentioned, I would not short any market right now. Yellen bailing out SVB could spark a rally across the board.
Bailing out is Quantitative Easing.
Raising Interest rates is Quantitative Tightening.
Who wins under either scenario.
The International Banking Cartel. They gained the American credit facility in 1913.
The Dollar Index may have bottomed. If so, the target range for Gold is 1780-1740.
BDC is right but the banksters’ buddies win too since they directly benefit from newly created currency units before everyone else receives them (after their purchasing power has dropped substantially).
It’s nothing more than a tax though it happens to be the most insidious and destructive tax of all. Notice that the Fed’s press release claimed that “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”? Only complete fools buy that but such people make up at least 80 percent of the population which is why the claim made it into the press release!
One indicator of ‘such people’ are the many who voluntarily wore masks outdoors etc.
Exactly. Those who blindly trust the witch doctors.
How witchcraft, magic and sorcery became pharmacy:
https://reclineyourmind.com/2019/06/word-facts-how-a-word-for-witchcraft-and-sorcery-became-pharmacy/
Good one!
Good thread guys on the banksters and their cronies looking out for themselves at the expense of everyday people. Here is John Rubino’s latest missive on the S.V.B implosion and eventual bailout.
______________________________________________________________________
Is Your Bank At Risk? The Silicon Valley Bank bailout and its implications
John Rubino – 4 hr ago
“On Friday, Silicon Valley Bank, a big player in the world of tech start-ups, suddenly imploded. Now it’s Sunday evening and everyone is speculating about possible implications that range from a tech start-up mass extinction to a global financial crisis (that’s the “Lehman moment” reference you’re seeing everywhere).”
“In recognition of the breadth of these implications, this post is divided into three parts: What happened; what it means for the global financial system; and what it means for your bank….”
Here’s another passage from John R’s recap, for those that may not click on the above link:
______________________________________________________________________________________________________
“Many tech companies used SVB as the parking spot for most of their cash, including what they needed to make payroll. As a result, over 90% of the bank’s customers had deposit balances far in excess of the FDIC insurance limit of $250,000. To take just a few examples, Circle, Roku, and BlockFi had, respectively $3.3 billion, $487 million, and $227 million on deposit (imagine the carnage in those boardrooms this weekend).”
“SVB invested these funds in longer-term government paper which, until very recently, paid higher rates than did short-term bank deposits, thus earning a profitable, apparently low-risk spread.”
“Then the Federal Reserve began raising interest rates at the fastest pace ever. Short-term rates rose above long-term rates (the yield curve inversion everyone’s been talking about), which makes the traditional bank strategy of borrowing short (deposits and CDs) and lending long (business loans, mortgages, investment grade bonds) unprofitable. That’s a problem for SVB, but a bigger problem is that rising long-term rates made the price of long-term bonds go down, producing paper losses for SVB’s bond portfolio which the bank had to report.”
“Then a few big depositors pulled their money out, forcing SVB to sell some of its bonds at a big loss to get the cash needed to pay off those deposits. It asked investors for $2.5 billion to plug this hole in its balance sheet, but no one wanted to take that risk and the financing failed. This further alarmed depositors, who staged a classic run, and in the space of 48 hours, this previously well-capitalized bank imploded.”
“So that’s the immediate crisis: A bank let its book get unbalanced and became insolvent. Regulators stepped in and have (as of Sunday night) decided to make all SVB depositors whole and to extend the same “systemic risk exception” to New York’s Signature Bank, which also collapsed while everyone was looking West…”
Then a few big depositors pulled their money out . . . ~ “Margin Call” vultures?
Maybe more so vultures that knew they were circling a banking corpse, and wanted to get their money out before it cooked in the open sun of inverted yield curves.
Aussie banks are okay Monday AM. Miners are up
Gold volatility Index jumped 19% last week:
https://stockcharts.com/h-sc/ui?s=%24GVZ&p=W&yr=7&mn=0&dy=0&id=p80635616529&a=1371725070
Looks like bank failures triggered by The Fed is positive for crypto.
BC has plenty of work to do to turn big-picture bullish. Watch for weekly closes above the following numbers (roughly) which will change somewhat over time. For now they are 25,250, 26,500 and especially 28,100. “Hodlers” should not get their hopes up.
I am not a fan of BC and hate to see it perform well when banks start to fail. If they are going to cryptonite the World, I would prefer to-store it in a nonFederal Bank that is regulated without Fed access to balances and/or use. It would also need to be a nontaxable event to spend or receive to eliminate gov greed. Audits of all levels of the system must be mandatory as well as the eliniation of
Will The Fed Be Held Accountable?
Jesse Felder – The Felder Report (03/11/2023)
Listen to Chris Whalen , premier bank analyst on Blockworks in response to SVB ON YOUTUBE
Here We Go Again
Doomberg – Mar 11, 2023
“I keep hearing about battery innovation, but it never makes it to my phone.” – Evan Spiegel
“For those that have been in and around alternative energy research for the better part of long careers, nothing makes the eyes roll harder than loud proclamations of breakthrough advances in battery technology. Consider this fun exercise: open up Google, search “battery breakthrough,” click “News,” and customize the results for any random six-month window in the past 20 years. Select an article that catches your eye and you’ll find exciting claims…”
“As sure as eggs are eggs, we were hardly surprised to receive countless emails and Twitter direct messages asking for our view on the latest battery breakthrough celebration making its way through the hype cycle. This particular rendition comes to us via The Telegraph, a fine newspaper to which we happily subscribe. Boldly titled “The coming EV batteries will sweep away fossil fuel transport, with or without net zero,” the opening salvo strikes a familiar tone…”
“There are good reasons stories like these keep going viral. Primarily, a true breakthrough in battery development that could be viably commercialized would indeed be a significant, newsworthy event. Even incremental improvements over the existing commercial state-of-the-art are incredibly difficult to achieve. Moore’s Law does not apply to battery development, and no amount of hand-waving over ‘S-curves’ and ‘exponential rates of change’ is going to change that reality.”
And … they run the same algos at open that they have been. My miners down again.
Gold up over +$45 and silver up over +6% and my account approaching 5 figure loss. It is hard to help the bullion banks and hedge funds recover their bank losses. Possibly the prisons should be barred from them having work release programs with Wall Street.
TSX.v taking a big hit…
Gaps at 580 and 570 in play.
Took profits on SCZ on a gap up day and put the $ into HGD, beta down gold. I think the moral hazard of easy money will hold down this rush on gold and silver short term.
First Republic is getting crushed.
Wow!
The Fed just promised to BAIL OUT EVERY BANK DEPOSIT IN ANY AMOUNT – FOREVER!!
Goodbye FDIC insurance…you are no longer needed!
YAHOO! FREE MONEY FOR WALL STREET…NOW THE DEMS WILL WANT FREE MONEY FOR MAIN STREET!!
PEEK INSANITY HAS HIT!
BEEN SAYING FOR YEARS…………………………………..GOTS………… finally here….
Bankers aren’t crazy. They now have more money.
Maybe we are for allowing their thieving.
More money please…. sheeple are stilled going to pay for it……
$51 Trillion in US DEBT is now possible….
Not only that The Federal Reserve just increased its control and therefore power, next it will be we no longer need The Banks. The Federal Reserve will be in charge of everyone’s money. DT
This was a financial institution deployed to facilitate the goals of powerful venture capital and private equity operators, by financing tech and pharmaceutical startups until they could raise millions or billions of dollars in a Wall Street Initial Public Offering (IPO). The bank was also involved in managing the wealth of those startup millionaires or billionaires once they struck it big in an IPO.
In big, bold type on its website, Silicon Valley Bank bragged that 44% of U.S. venture-backed technology and healthcare IPOs YTD [year-to-date] bank with SVB.
To put it bluntly, this was a Wall Street IPO machine that enriched the investment banks on Wall Street by keeping the IPO pipeline moving; padded the bank accounts of the venture capital and private equity middlemen; and minted startup millionaires for ideas that often flamed out after the companies went public. These are the functions and risks taken by investment banks. Silicon Valley Bank with this business model should never have been allowed to hold a federally-insured banking charter and be backstopped by the U.S. taxpayer, who was on the hook for its incompetent bank management.
GATA
FDIC doesn’t have the funds. They will have to print ….knowing we can’t audit the books. Then the debt will grow and it will be the fault of whichever party that is in power. Same game, same thieves. (No mention of The Fed’s fault in the situation and interest rates). If they are closing the banks and covering the assets, probably with taxpayer funds, where are the assets actually going. Are we starting the Fast Track to monopoly control of bank assets by Central Banking?
Ditto……………. Same SCUMBAGS………. nothing changes for the benefit of the SHEEPLE……….
Just so you know, the FDIC really does not need that much in the insurance fund. When most banks fail the FDIC pays out very little and sometimes nothing out of the insurance fund. From 2008 through 2013 almost 500 banks failed at a cost of only approximately $73 billion to the Deposit Insurance Fund. The Deposit Insurance Fund today is almost twice that size. When the largest bank failure in U.S. history happened in 2008, that being Washington Mutual, not one penny was needed from the FDIC insurance fund. Many people just look at the how much the FDIC has in the insurance fund and say that they do not have enough. The fact is when the FDIC takes over an insolvent bank they get all of the bank’s assets to use to take care of the bank’s creditors especially the depositors. Most times a lot of those assets consist of cash, deposits with the Federal Reserve, Treasuries and government-backed mortgages. These are considered to be high-quality liquid assets. Most times those assets alone are enough to cover all the insured deposits. This is true of Silicon Valley Bank and Signature Bank since only a small percentage of deposits were insured. And of course, there are assets of lesser quality such as CMOs and asset backed securities which would probably have to be sold at a discount by the FDIC. This is only if the FDIC can’t find a buyer of the failed bank. However, the vast majority of the times the failed bank is acquired (bought) by another bank.
Western Alliance is also getting crushed.
Added back full position of Magna since shares on sale the last couple of weeks.
There is no difference in the daily trading of my account. Some up …. some down and alternating days as usual I have one stock that is green and that is because it’s up day was Friday. Account continues red and paper market where the thieves live is:
Gold +49
Silver + 1.46
Copper +.o33
Platinum + 45
Pallladium + 117
My account does not care nor has it.
Correction: Two green: Golden Lake Exploration and Eskay Mining. Eskay is green only because I bought back in today.
(It took less than 5 mins to take Golden Lake Red and Eskay headed that way. No, they do not target algos at gains…but it is possible.)
doing the same thing and expecting a different result doesn’t work.
If stocks are changed, dollar amounts change, share amounts change, resources change, type of rock changes, macro events change, banks fail, etc. why should what amounts to different variables every day not have a different result. Why holdings are probably 80% different from a year ago.
What has stayed the same is the algos.
Massive volume in UVXY. In January, Jim Cramer was pumping SVB, which took a massive hit by loading up on ‘safe’ treasurys. Nibbled on SQQQ