Silicon Valley Bank might be failing. Their shares crashed down over 60 percent prompting a halt in trading.
BREAKING: Shares of Silicon Valley Bank (SVB) continue to drop even more. Shares fell more than 60% in pre-market, trading at $39.78 pic.twitter.com/PfpsBjgqbu
— Insider Paper (@TheInsiderPaper) March 10, 2023
People can’t access their money.
Good Morning Everyone! Silicon Valley Bank is getting worse. Customers trying to pull millions of dollars out and can’t. Online banking and mobile services showing unavailable for some customers.
Stock down 60% pre-market.
If the bank fails, it would be the second largest… https://t.co/dCnew8tzAP pic.twitter.com/h7YcocnvZX
— Genevieve Roch-Decter, CFA (@GRDecter) March 10, 2023
The Bank’s CEO sold millions of dollars in shares right before this happened.
CEO of Silicon Valley Bank sold $3.57 million of stock within the last two weeks.
Did he know something? pic.twitter.com/l4PbA6WWbG
— Genevieve Roch-Decter, CFA (@GRDecter) March 10, 2023
You also have this from the Jew liar Jim Cramer.
One month ago, Jim Cramer urged investors to buy Silicon Valley Bank stock $SIVB, saying it was "still cheap" and has "room to run."
The stock's value has since dropped by 66% following concerns that the bank is on the brink of collapsing. pic.twitter.com/5jgjqTGxld
— Watcher.Guru (@WatcherGuru) March 10, 2023
There are fears of this spreading to other banks.
Silicon Valley Bank meltdown sparks contagion fears: ‘We found our Enron’ https://t.co/W5FqsvaKhH pic.twitter.com/X9idn9w4ks
— NY Post Business (@nypostbiz) March 10, 2023
This is why you don’t want to keep the vast majority of your savings in these banks. This system is showing how fragile it is. You need to have funds or wealth outside of this system.
Imagine having all of your wealth in this bank come to find out today that you can’t access any of your money.
I don’t think the banking system is stable. This whole system is a house of cards that could fall apart at any time.
