$42 Billion in Withdrawals from a bank with only $209 billion in assets is the textbook case of a bank run. The FDIC has stepped in to guarantee those deposits but their money is seriously limited.
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Hey everyone welcome back to the Poplar Report I am in Kenya still but uh I've Been able to kind of start catching up With everything that's going on over in The United States and a bunch of you did Ask me to kind of chime in on what's Going on with the bank runs uh as I am An accountant a tax accountant and I Want to again give you my two cents of Five reasons why this is a really big Deal why the Silicon Valley Bank Run is A big deal we're going to go through Those and how those could impact you and You're going to want to pay attention to This because it's big stuff this is the Second largest bank that has defaulted Uh in in American history really so we Are we're dealing with a pretty big uh Situation and the contagion this Spreading to other Banks is very real And is what a lot of the financial People are talking about on the Wall Street Journal in these type of places So let's jump into it this video is Brought to you by Genesis Gold group I Keep warning you that the banking system Out there is a giant Ponzi scheme and This is exactly what we're talking about If you want to talk to Jonathan and his Team down at Genesis gold you can find Them down in the description down below They can help you move your retirement Funds out of stocks bonds risky assets Over into physical gold physical silver
And that might be a wise thing to do you Can find them down in the description Down below so the five reasons why this Issue with Silicon Valley Bank is is is Catastrophic they have a 209 billion Dollars worth of Assets Now if you've Watched It's a Wonderful Life my my Cameraman has not seen it and I just Started like just staring at him but It's just like in that in that movie you Know the money's not here in the bank It's in so-and-so's house it's in the Other bank the other people's houses They uh borrow the money that you Deposited and you have to wait for them To pay it back in order for you to get That money back now on a banking system Level we're talking about billions and Billions of dollars of assets uh we're Talking about major institutions making Deposits here at Silicon Valley Bank and They're loaning it out to Tech startups Now when they learn it to Tech startups And those Tech startups can't pay it Back because I don't know they don't Actually make money that's a problem Well what happened was a whole bunch of People including major institutions are Saying well we want our money back We deposited money with you we want it Back now uh of the 209 billion dollars Worth of assets on Thursday uh Depositors one at 42 billion dollars Back now they had some liquidity they
Had some cash on hand but they didn't Have 42 billion dollars worth of cash on Hand so they had to say Sorry we can't do it Now this is something that the U.S Government uh actually has a program for The FDIC you know you see that at Banks You know this is FDIC uh insured so Basically those Bank deposits up to 250 000 per uh bank depositor is guaranteed By the federal government which of Course immediately you're going to go Hey wait that's you and me Um yeah that's right you and me are Going to pay the depositors uh because Silicon Valley Bank was so woke that They couldn't actually have liquidity They have so many things on their Website about how they're all about Equality and diversity and all these Other things but they're not really About actually having the assets so that They can actually pay out uh to people Now So this is the big thing the first big Item of why this is going to impact more Out there is Tech startups Tech startups Have borrowed money from the bank and They do need to continue borrowing money From the bank because a lot of them Don't actually make money Twitter is a Perfect example it still hasn't ever Made money and you say well how's it Still in business if a business doesn't
Make money how do they stay in business Well they just keep borrowing more money They keep going well we have more Revenue coming in so we can borrow Against that revenue and you say well But you don't have any profit yes so Lots of foreign investors are going to Pour money into Tech startups like Twitter for instance lots of people in Saudi Arabia have put tons of money into Twitter and so one of the big things About this Ponzi scheme that the United States is running with its economy is We're basically sucking in investment From around the world people are making Money in all their countries and they're Investing in the U.S stock market They're investing in and U.S banks They're investing in loaning money to American Tech startups and other Businesses pipe dreams basically so We're basically taking a we're fleecing The whole world it's like one giant uh Scam uh we're taking their money when They invest in dollars when they buy Dollars and we're also taking their Money when they invest in our stock Markets uh in companies that won't Actually make money so if the tech Startups don't get their money they're Going to fail and if they fail that Means a lot less foreign investment A lot less money flowing from around the World to the United States and that's a
Big deal that will that will devastate Our economy because our economy is one Big Ponzi scheme and when people stop Investing in the Ponzi scheme it Collapses so be aware of that Tech Startups and other companies that have Borrowed uh money from this company and We're hoping to borrow more and also They have actually loan money we're Going to get into that some of these Companies that have loaned as Silicon Valley bank money they're The question is whether they'll actually Get their money back that's a big deal Second thing Bank runs are contagious When people start feeling a little Nervous about their money in Banks they Start doing one thing and this is Something that you know unfortunately The only thing you really can do in a Bank run is beat everyone to it that's The only thing you can do is get your Money out first and I am going to Recommend doing that get enough money Out of the bank that you can cover your Expenses now do you want to be holding Dollars That's not a great thing to be holding But it's a heck of a lot better to be Holding than promises from a bank for Dollars I think that's much more Advisable if you can get your hands on Actual uh silver coins silver uh or gold Coins uh bars physical assets uh food
Always of course electrical systems Anything that you can get your hands on That's actually something not just paper Bank runs are contagious and we're Already hearing rumors out there and This is how it goes all you need is a Rumor about a bank and then people start Going to the bank and starting to pull Their deposits back and once other Institutions or other uh people start Pulling their money out the liquidity Ratio starts dropping dramatically we Start seeing that they have a lot less Assets a lot less cash on hand and that Makes even more people nervous and so More people pull their money out and Eventually it gets the point where the FDIC has to step in and that's what They've done with Silicon Valley Bank is The FDIC has stepped in and said we're Going to take over the bank We're going to take over the bank and We're going to start paying out to Everybody who who wants it That's uh and they're going to take all The assets Supposedly the assets are worth more Than the uh The amount of deposits that they have to Pay out but we're going to find out Whether that's actually true how much of The assets on these Banks books are Actually fake assets or assets that are Dramatically overvalued on paper than
What they actually are if you have a Whole bunch of shares and Tech startups That don't make money Are those shares really worth what you Think they are if you own one-third of The company and uh and and there's only A tiny portion of that company actually Freely traded if you try to sell one Third of that company and people look at The books and they're like we don't want This Well friends if you own one-third of a Company that actually has more debts Than income That can actually be a negative value I Know it's crazy you can own stock where You are on the hook For more money than you uh then it's Worth so it's not a positive amount of Money that your stock is worth it can Actually be a negative number in certain Circumstances and that's a crazy thought But it is the truth so Bank of America People are talking about do they have Enough money on hand and so people are Going out there and they're starting to Pull their money out of Bank of America Secondly uh First Republic people are Looking at first Republican asking do They have enough Wells Fargo Now whenever we start talking about Banks uh uh malfeasance you're going to Go is it well Wells Fargo again they Keep getting fined for doing all sorts
Of shady stuff and if you think that They have enough liquidity on hand for a Bank run you're wrong uh if Wells Fargo Is under the gun and they are massive if People start pulling their money out of Wells Fargo that could cause serious Problems a bunch of you are probably uh Members of Wells Fargo or have deposits There first Republic Wells Fargo Bank of America they're talking about Regional Banks out there will the regional banks Have enough assets to cover any Bank Runs number three like I said so Silicon Valley Bank has been taken over by the FDIC so the fdicc has seized their Assets and said okay we'll kind of pay Out on these uh on what use what's owed Because we have all these assets here Which should be more than what we have To pay out now we may take some time Before we can get all those assets Liquidated But we're going to find if that's true But here's the problem the FDIC only has About two percent liquidity So of all the assets that it is ensuring It has about two percent of that cash on Hand So If more than two percent of the assets That are insured by the FDIC suddenly go Into default and let's just say Silicon Valley has eaten up a good bit of that Already
If we have Wells Fargo go down if we Have uh first uh First Republic or Another major Bank go down They may step in to ensure those Deposits but they may not have enough Liquidity themselves to pay out on these Deposits do you see a problem with that And we're going to need Congress to Ram Through a massive spending Bill sort of Like what they did with the you know in 2008 where they just did this massive Bailout We may need a massive bailout out there Now how is that going to get funded They're going to have to sell a whole Bunch of treasury bills except oh that's Right we have a death ceiling they can't Sell more treasury bills right now So they're going to raise the debt Ceiling if everyone's on board with that Then they're going to have to sell a ton Of U.S treasuries to cover this is that Going to help inflation or hurt Inflation you you be the decider on that Right so the insurance out there the Feic is about to go defaulting Themselves That's a problem folks that's a massive Problem so if you think your money is Safe in the banks that they are in right Now more power to you I'm going to say It is a risk you should definitely have Cash on hand two months cash on hand two Months of your expenses around the home
For making your rent or your mortgage Payments you had better have two months Cash on hand if you don't I I think that that is a risk now if you Have that in silver or gold in your home Or if you have that in liquid assets That you can sell very rapidly that Could also work as well but you need to Have cash on hand you need to have Assets that you can liquidate quickly Because If your bank goes down and the FDIC the FDIC says that people are going to start Withdrawing on Silicon Valley Bank Deposits on Monday When they start doing that we're going To start seeing the fdic's bank account Themselves start dropping their cash on Hand is going to start dropping and how Much do you want to bet those Extraordinary Measures out there that Are made to elongate the need before the Debt ceiling comes how much do you want To bet that a bunch of that money saying The FDIC is what's been tapped yeah Tapped they're borrowing against that Money in the FDIC in order to cover Uh the debt ceiling I would not be surprised if that is the Case out there I haven't heard one way Or another on that but it's a whole Bunch of cash just sitting there and When they're doing Extraordinary Measures could they be using that cash
That's supposed to be sitting there for An emergency could they have spent that Already or or in the planning stages of Spending that could that be what is part Of what's going to take us through the July before the federal government runs Out of cash I don't know number four Here folks uh Depositors tried to withdraw 42 billion Dollars on Thursday from the Silicon Valley Bank they had 209 billion dollars Of Assets Now this is this is kind of What happened Uh that is one-fifth of the assets If you want to show me a bank that has One-fifth of its Assets in cash That was just Thursday that wasn't Counting Wednesday and before on Thursday people tried to pull out 42 Billion dollars there isn't a bank in The United States that could handle that Type of withdrawal So when I say that all it takes is a Rumor to bring down a bank it's not that Any bank has doesn't have enough liquid Assets it's the fact that none of them Do none of them have the assets for Everyone to start pulling their money Out simultaneously If you pull out one-fifth of A bank's Money They don't have that in cash they're not Sitting on that big of a cash pile no One is except for maybe like Warren
Buffett who's waiting for the stock Market to crash okay he's sitting on a Whole bunch of cash some of these Trading Banks might be sitting on a Whole bunch of cash but that is Um probably parked somewhere in U.S Treasury bills or something like that That no bank has that kind of assets so All it takes is for a serious rumor to Get started about any bank and and Institutions start trying to pull their Money out it's going to all collapse One big Ponzi scheme like I said Number five crypto cryptocurrencies is Already impacted and now you're probably Saying out there I don't have any Cryptocurrencies now some of you do okay So that you're already paying attention But those who don't have cryptocurrency I have like 20 bucks worth of ethereum At this point that I bought because I Got like you know half of it given back To me or something like that so For investing in it so I have like 20 Bucks in ethereum but that's all my Crypto assets but I'm paying attention Why because uh the usdc which is one of The cryptocurrencies now there's two Types of cryptocurrencies generally Speaking this is oversimplification There's cryptocurrencies that are kind Of like uh used for for Um kind of investing sort of the value Can go up and down Bitcoin ethereum all
These other coins then there's something Called stable coins these coins are Pegged to one dollar or they're pegged To another currency like Euros or Whatever these are not run by central Banks these are not run by Banks they're Run by these private quasi-bats okay now The usdc is supposed to be one usdc Equals one dollar and people use this as Like Um as effectively like a dollar so they Have to keep assets that are going to Stay stable to the dollar you know you Think that they'd be sitting on a cash Pile of US dollars but that's not Exactly how they run it They had a bunch of US Dollars deposited At Silicon Valley Bank 3.3 billion dollars sitting at that bank That's a problem that's a problem they Want to withdraw that money out and they Couldn't get it and the usdc which is Supposed to be one to one on the dollar Stopped being one-on-one on the dollar And it just broke it's called a peg it's Supposed to stay stable to the dollar And when it moves that just breaks all Faith that everyone has in there it's Not supposed to be an investment up and Down people are supposed to be able to Use it like like a dollar And this is why this is so significant Not just because cryptosphere is going To get all white you know messed up
Because of this they're looking at Seeing getting all those assets out of It from the FDIC so don't you go crying About those billionaires and Millionaires and all that kind of stuff Like that but if the if the private Stable coins fail What do you think is going to happen Next they've already been talking about The US government wants to issue their Own stable coin which is a digital Dollar So when we see private stable coins Starting to break We're going to see the US government the Federal Reserve step in and say hey we Can issue a stable coin that is Absolutely going to stay stable It's going to be one to one to a dollar No change why don't you use ours Use ours and in fact we can use ours for All sorts of stuff everyone can use it All day long we can give out we can give Out stemi checks on uh in this stable Coin we can do Bank transfers on a Stable coin we can do all sorts of stuff So when crypto starts stumbling we're Going to see the federal government look Looking very eager to step in and say Hey we have a solution And of course that's going to usher in Them being able to track everything you Buy and spend on the blockchain and They're going to be able to block your
Purchases they're going to be able to Say no we gave you that money to buy Food and you're trying to buy a Motorcycle with that that's not going to Work out they're going to give you a Stemi check and it's going to be a Stimulus for whatever you know inflation Stimulus and you're going to need to Spend that on certain things Um or they're going to start saying well We don't want anyone buying certain Things boomsticks or you know brass and Lead that go in boom sticks we don't Want anyone buying those things so we're Just going to ban that on the blockchain You can't spend it at certain stores Even if it's your money that you earn at Your job The uh the the U.S stable coin uh issued Stablecoin the digital currency is a Massive threat to civil liberty and you Just watch they are just chomping at the Bit to jump in and start offering that As a solution all right folks um I want To keep you updated as things roll uh When we start seeing uh if we start Seeing some other Banks start defaulting Here we're going to give this out to you And I'm going to be keeping a Hawkeye Look at the FDIC assets to see if they Start dropping if we start seeing the We're going to start tracking the FDIC Assets because the next bank or the bank After that that defaults may not have
Any cash coming from the FDIC the FDIC Mays want to step in but they may not Have any cash to do so where are they Going to get that cash from they're Going to get it from Creative Solutions And I promise you it's going to come out Of your pocket one way or another and uh You need to be paying attention because The US dollar and the currencies of the West are going to be impacted by this What's next next bank I don't know it Could be yours make sure that you have At least two months cash on hand Preferably in you know you're going to Have you know at least one month cash on Dollars and then after that uh it might Be good to have that in silver or gold Or something stable Um like that so that you can liquidate That into dollars and and and make your Uh you know pay off things but uh Usually it can take a couple weeks to Liquidate uh whatever you have uh in Silver gold or whatever like that so you Don't want to be caught flat-footed Because unfortunately you can't pay Mortgages you can't pay rent in silver Coins at this point in most places all Right so um just watch for out for Yourselves watch out for your families Out there make sure that you have some Food stocked up because that's what You're gonna have to buy if you can get Ahead on certain uh bills or anything
Like that and get a discount that might Be a good idea to do as well Do what you can out there folks but keep Your eye on what's going on and I will Keep you updated as best I can alright Folks thanks so much for watching if you Found this video to be useful or helpful You might want to check out this other Video right here I'll see you over there Or I'll see you later Steve Poplar out
