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SUBSCRIBE to Our Channel: This is the look of a modern bank run in 2023 in the United States with a deposit bank in one of the wealthiest sections of the country.
And this trading week ends today, Friday, March 10th, 2023. We saw Silicon Valley Bank, the second largest US bank failure, occur over a mere matter of a couple business days.
Here’s how some of the financial talking heads covered this shocking news.
We had a slightly mixed week of trading for the respective two precious monetary metals.
The spot silver price rallied a bit to close the week, just over the $20.50 oz bid.
The spot gold price climbed on the bank trouble news today, climbing near a $1,870 oz bid to finish this week’s trading action.
The spot gold-silver ratio climbed a bit on gold’ relative strength closing at 91 for the week.
American banks need to repair their capital buffers
Thomas Hoenig DECEMBER 14, 2022:
Of course, we will continue to monitor and report on future fallouts from this major event in future SD Bullion Market Updates to come.
In the meantime, price premiums have slimmed, and inventory levels on prudent bullion product options remain robust for now.
That is all for this week’s SD Bullion Market Update.
As always, to you out there.
Take great care of yourselves and those you love….(read more)
LEARN MORE ABOUT: Bank Failures
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Bank Failure: 2nd Largest in US History | Gold Silver Update
In what can only be described as a catastrophic event, a major US bank has recently undergone a painful collapse, making it the second-largest bank failure in the country’s history. This unfortunate incident has sent shockwaves throughout the financial industry and heightened concerns about the stability of the banking sector.
The collapse of this financial institution highlights the inherent risks and vulnerabilities that exist within the banking system. While banks play a crucial role in the economy by mobilizing funds and facilitating economic activities, their failure can have severe consequences for individuals, businesses, and the overall financial system.
One of the consequences of such a bank failure is the erosion of public trust and confidence in the entire banking sector. People begin to question the safety of their deposits, fearing that their hard-earned money may be at risk. As a result, individuals rush to withdraw their funds, leading to a domino effect of the bank’s inability to meet withdrawal demands. This situation not only exacerbates the bank’s financial problems but also results in a loss of faith in the entire banking system and its ability to protect people’s money.
Moreover, a bank failure can have serious repercussions on the economy as a whole. With the collapse of a major financial institution, credit tightens, making it harder for individuals and businesses to access loans and financing. This reduction in credit availability leads to decreased investment, lower consumer spending, and a general slowdown in economic growth. Furthermore, the loss of jobs caused by a bank failure can have far-reaching consequences on individuals and whole communities.
Understandably, the fallout from such a significant bank failure often spills over into other financial markets. Investors tend to panic, rushing towards safe-haven assets to protect their wealth. Historically, gold and silver have been considered reliable stores of value during times of financial turmoil. As investors seek to safeguard their assets from the uncertainties of the banking system, these precious metals often experience an upswing in demand and an increase in price.
The recent bank failure has once again reminded us of the importance of diversifying our portfolios and protecting our wealth from the risks inherent in the financial system. While stocks, bonds, and other financial instruments can yield lucrative returns, they also carry the risk of loss if a particular institution fails. Allocating a portion of one’s portfolio towards gold and silver can act as an insurance policy in times of crisis, providing a safe haven for wealth preservation.
Ultimately, the second-largest bank failure in US history should serve as a wake-up call for both regulators and the general public. It is imperative that more robust and stringent measures are put in place to prevent such catastrophic collapses in the future. Additionally, individuals should be proactive in diversifying their wealth to mitigate risks and protect themselves from the repercussions of banking failures.
In conclusion, the recent bank failure has not only exposed the vulnerabilities within the banking system but also reminded us of the importance of protecting our wealth. While the fallout from such a collapse can have severe consequences for the economy and financial markets, allocating a portion of one’s portfolio towards gold and silver can provide a hedge against these risks. As we navigate through these challenging times, it is crucial to learn from these events and take necessary precautions to safeguard our finances.
Remember only a few months ago when we showed you how the FDIC met about bank bail-in policies in late 2022? — https://youtu.be/m5w2H-9StOA?t=21
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I thought DB would be first but it got to them anyway!
Did this cause a bullion dealer failure? I placed an order before this happened and I’m still waiting for it to ship. Phone reps are rude and each one has a different time frame or no actual answers. Now I’m nervous about my $100k…. First time buying and last. I will continue to business with other companies. Premiums may be hiring but customer service is much better
True, vid!!
@sdbullion – what's going on with videos? Are you getting censored? 3 NEW POSTED VIDEOS AND ALL DELETED WITHIN SHORT PERIOD OF TIME
How bout more on fake metals. Seen your Twitter and that's concerning
Why would Warren Buffet be holding cash when he could buy silver and gold?
I've heard that SVB was bigger and WaMu was 2nd. Meh. Captialism, not socialism. Let them fail.
Those 10oz perth mint lunar coins are sweet! Wish I could stack those.
OOOOOHH the irony. The old hag that exacerbated this interest rate and "loan quality" disaster is refusing to bail out SVB? Why is this, Mrs. "Champion of the People"? Because of crypto? She is even more clueless than ever. Banks can't buy crypto; but they may loan money to a crypto-related company. But, the real problem is inflation and T-bond prices crashing. The true irony here is that Treasury is BROKE, thanks to all the stimmys she signed off on that people spent on anything BUT loans that actually created marginal profit for banks. What a circus show.
is it possible that when CBDC comes without being back by precious metal?
Do you have a team of monkeys in the IT department that are incapable of keeping spot prices updated? Yours seem to rest over spot every time after the markets close conveniently, creating a nice profit for you if anyone decides to purchase from you over the weekend. You also charge ridiculous fees when any and everyone attempts to cancel or simply change an order. You CSRs are extremely rude towards customers. I will never do business with you again.
WaMu depositors NEVER LOST A DIME. Meanwhile in Minnesota of that same Year which of course EVERYONE REMEMBERS THAT FATEFUL YEAR ..
People need to realize, if you don't hold it you don't own it…
I think the Fed will save it
Roku did a boo boo!
Oh well
Got my popcorn ready
People will just dump CBDCs for hard assets if CBDCs are not backed and redeemable for Gold/Silver. Nobody is gonna keep savings in a Digital+Inflating currency.
Secession time for the south ?
Time to liquidate all of your shares, bonds, deposits and run to cash. Massive bank contagion on the way. The Gobal Financial System going to seize-up. Next up European and Japanese investments banks follow up by the Global Commercial banks. Stock markets going to collapse just like in Oct 2008. Bail-in and bail-outs on the way. Fed, AND OTHER Central banks are going to send in the Bombers to cash drop in the magnitude of trillions. (USD500 Billion in 2008). Inflation rates going to skyrocket. Interest rates going to zero and Gold and Silver prices going drop together with all assets thereafter going to shoot to the moon once the rout is over in 6-12 months.
They need all these big tech giant s to agree to CBDC’s !!! This was planned IMO
Buy gold.
I'm not warning ppl ,anymore. I'm done with telling ppl. If they leave it in the bank , come what may.
What a nightmare. Our wonderful administration printed TRILLIONS of $$ during covid, causing inflation and massive deposits that couldn't be capital asset backed, then raised rates to try to combat inflation, there-by directly competing with the banks on upside down bond rates causing them to face liquidity issues, all with money they don't have (i.e. increasing interest rates having to be paid on T-bills and our massive debt). This is exactly the OPPOSITE of capitalism and free market. So much disgusting disregard for responsible fiscal policy.
More reasons to buy silver and gold
The federal reserve debt units Ponzi scheme is falling apart
Lol
Rofl
Lmao
Pull your currency out of the banks
Buy real silver
Buy real gold
Buy btc
All 3 are wealth units
China and deepstate taking our tech sector out
Fear not, the FED will digitally print, out of thin air, however much is needed to bail out the banks.
This will cause huge inflation, so buy physical gold, silver and Bitcoin to protect yourselves
Yeah, but this is easy though. Ok, if I was the Fed, I'd spend the weekend assuring SVB depositors that their fiat is safe and not to worry about the FDIC limit. After all, I'm the Fed, I create fiat out of thin air, I do what I want. There, contagion risk is gone.
The SVB risk assessment officer was a moron. She was bragging on social media about being gay and a 1st gen immigrant who was heavily invested in queer activism. Maybe SVB should have hired an overweight, cigar-smoking White man with a big gut and a sharp eye for financials.
Domestic banks will fall and probably be bailed out by the IMF if the fed doesn't pick up the tab. Ether way we will always pay the hidden tax of inflation. Not 30 years on this earth, and the game was always rigged from the start.
All those start up businesses are screwed. This is going to smoke California and other start up businesses that had all of their eggs in one basket. The crazy thing is the bank hit record high stock price last year but when they needed capital they had to sell bonds at a huge loss. The huge loss spiked a scare and people sold stock and pulled money out of the bank in a panic. Very scary how easily a bank of this size can go out of business in 48hrs. The Fed is going to have to stop worrying about interest rates and will have to step in to put a stop to this house of cards. How many other banks like this currently exist and are going to get blacklisted. This is what happens when you jack up interest rates to double in such a short period of time. It is only a matter of time when we start to see more of this. Silver is only at $20.60 (60 cent increase) from this kind of news and gold only moved up 2%. Give me a break already. Largest flight to safety with bonds in history and metals only move 2% on historic news…talk about rigged.
Thank You James ! I am a customer and appreciate your information! Retired and confused what to do with my money! Diversity is always good in my opinion Lost 3 times in the stock market No more! Ugh Grrr
Can't look anything up on most banks in my area
If You do not hold it, you definitely do not own it!
Always concise, articulate, sensible and measured not to mention accurate. Thanks as always.
Foreign holders of dollars amount to more than US's GDP. Will bank failures in America promote foreign holders to sell and weaken the dólar? We shall see
This doesn't mean the dollar is going to crash and to hurry up and buy silver. Everyone chill out… clowns.