Comments by "Daniel Bradford" (@Falconlibrary) on "The Silicon Valley Bank Collapse; Is it a Repeat of 2008?" video.

  1. No, it's worse. Fact 1: US banks have a $620 billion loss on long-term bonds they bought when interest rates were low. The Fed has promised to pay par value (full value) for these. There goes $620 billion. Fact 2: The FDIC has a balance $128bn in its fund for insured deposits, or about 1.27% of the total insured deposits in the country. But since Yellen unilaterally (and possibly ILLEGALLY) removed the $250k cap on FDIC insurance, the entire FDIC fund could conceivably be wiped out in 48 hours. FDIC funds were accumulated under the assumption that the FDIC only had to cover accounts up to $250k--now, they have to cover an account of infinite size. Roku had $487 million at Silicon Valley Bank. It's 100% covered. $487 million is a bit more than $250k. Fact 3: You can't cover the losses with FDIC funds, even assuming the very best case scenario. Either Congress has to vote an appropriation or the Fed has to turn on the money printer, which will spike inflation and undo all of its work over the past year.
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