Tech Bank Run

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In this video, I discuss the ongoing bank run at Silicon Valley Bank (SVB), and what it means both for the tech economy, as well as the US banking system.

It would appear that the Fed has now "broken something," if we are seeing emergency actions taken by major banks like SVB to shore up their balance sheets, which have been broken by the Fed's rate hikes.

This suggests that a Fed reversal may be near.

Fractional reserve banking really is the dumbest invention of all time.

Bitcoin is the great bank account in the sky that cannot be touched by anyone:

It can't be diluted like SVB stock.
It can't be plundered by a bail-in.
It can't be diluted by Fed money printing.

Not investment advice! Consult a financial advisor.

Crypto bank run:
https://www.youtube.com/watch?v=QhcYmELssSM&ab_channel=TraderUniversity

Silicon Valley Bank (SVB):
https://www.svb.com/
https://finance.yahoo.com/quote/SIVB?p=SIVB&.tsrc=fin-srch

SVB 2021 10-K:
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/4b031df0-621a-429e-95ec-1ba5f88b029d.pdf

Fed going higher for longer:
https://www.cnbc.com/2023/03/07/fed-chair-powell-says-interest-rates-are-likely-to-be-higher-than-previously-anticipated.html

SVB announcement that panicked investors:
https://s201.q4cdn.com/589201576/files/doc_downloads/2023/03/r/Q1-2023-Investor-Letter.FINAL-030823.pdf

SVB 2022 10-K:
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000719739/f36fc4d7-9459-41d7-9e3d-2c468971b386.pdf

SIVB income statement:
https://finance.yahoo.com/quote/SIVB/financials?p=SIVB

SVB CEO says don't panic:
https://www.theinformation.com/articles/silicon-valley-bank-ceo-tells-vc-clients-to-stay-calm

Peter Thiel says do panic:
https://www.bloomberg.com/news/articles/2023-03-09/founders-fund-advises-companies-to-withdraw-money-from-svb'

Silvergate winds down:
https://www.businesswire.com/news/home/20230308005795/en/?ref=no-bullshit-bitcoin

Biden wants to tax Bitcoin miners:
https://twitter.com/BitcoinMagazine/status/1633933119920168965

New York AG says that ETH is a security:
https://decrypt.co/123102/new-york-attorney-general-kucoin-ethereum-security

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#SVB
#banks
#bitcoin

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