FRIDAY’S TOTAL IMPLOSION OF SILICON VALLEY BANK’S $200+ BILLION IN DEPOSITS CREATED AN EXISTENTIAL THREAT TO THE CONfidence IN U.S. BANKS. EITHER THE FED WOULD STEP IN OR TOTAL CHAOS WOULD ENSUE ON MODAY MORNING. SO ON SUNDAY AFTERNOON THE FED & U..S TREASURY ANNOUNCED THAT THEY WILL BACKSTOP ALL DEPOSITS AT SVB *AND* SIGNATURE BANK IN NEW YORK (WHICH IS new NEWS). The Fed’s actions amount to a finger in the dam for a banking system and economy which is now virtually guaranteed to suffer hyperinflation and total collapse in coming months. Mark the date, Sunday March 12, 2023, the day the FED ignited the spark which will ultimately bring down the entire house of cards.
