This is really happening! A run on the deposits of Silicon Valley Bank (SVB). Reportedly SVB had $209 billion in assets at the end of 2022. If you were affected or a part of this collapse, I am truly sorry if you suffered any loss. I do want to impart upon anyone happening to read this, that throughout 2022 we have been at the tip of an apparent economic collapse. And whether you believe in climate change or not, this glacier is melting.
One of the reasons NursingMoney.com was started, was to help people take back control of the banking function in their lives. The idea is to financially educate yourself and build your wealth on a firm solid foundation. People simply do not know what the heck is going on with their finances, and that is going the get a lot of people wrecked. I’m sorry to say that what you don’t know can and will hurt you.
Did you know that long before FDIC even existed mutual life insurance companies were the ones who bailed out big banks that failed during the Great Depression? This is exactly why today the big banks are the biggest customers of insurance companies. That’s why banks are parking billions of their Tier 1 capital into insurance products.
Stay tuned for the FDIC fallout…
See an analysis of Silvergate Bank done months PRIOR to the collapse.