Friday Evening News with MarkZ 02/20/2023
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: What a day….bank runs and chaos….let the reset begin!!!
Member: Mark….there is a great deal of chatter about this weekend.
Member: Good thing about changing the clocks ahead this weekend, the RV comes an hour earlier.
Member: With all the ‘bank’ info, it’s getting kind of exciting. Like this ‘thing’ is going to go and soon.
Member: Does this bank failure in Silicon Valley Indicate anything?
MZ: This is a good one from Zerohedge “300 Billion Reasons Why SVB Contagion Is Spreading To The Broader Banking System” This is expected to spread guys…..the actual money to stop a bank run doesn’t exist. This is listed as the 18th largest bank in the nation and it had a A rating 3 days ago.
Member: I heard when banks began to fail…. it was about time for all of us to go
Member: This is crazy…….pitchforks and torches are about to come out.
MZ: From Iraq: “The Central Bank of Iraq decides to only use local currency at ATM’s” Think about this – their money doesn’t have much value right now…..it takes a big stack just to buy groceries or pay bills. But….now the ATMS are only set up to dispense Iraqi dinar. Why would they do this? They are clearly anticipating more value and lower denominations.
MZ: I am still getting reports that they expect to start training folks on the lower denoms as early as next week. When this does occur I guess there may be a total blackout in communications in Iraq…..or canned and recycled news. They will need a few days to keep things quiet…imo. Before they let everyone into the banks.
Member: This is huge news imo..
MZ: I am excited on the news we are getting….finally seeing something tangible and real that we can see.
MZ: I am in direct contact with MilitiaMan now and he plans on making an appearance here at some point next week.
Member: I wonder if Redemption centers scheduled to work this weekend?
Member: I still want to see all these crooked politicians arrested
Member: Daughter works as teller for pnc. They said their outside ATM would be closed all next week.
Member: I heard the RV notifications started in Europe
MZ: I heard that but do not give it much credibility at this point but there is a lot going on.
Member: Nader has been singing and dancing all afternoon. What’s going on……
MZ: Maybe he is drawing the same conclusions we are about only dinar in the ATMs from now on with new rates and new Lower Denom bills. ? Or hes just relaxing and having fun.
Member: looks like Nader just posted a new video. says IQD going up
Member: (From Dinar Guru) Nader From The Mid East Remember in December…I said when Iraq we started using only dinars that’s where you’re gonna be happier. You’re gonna see the difference…then couple days ago and said, ‘Hey Iraq would be using only dinar next couple of days‘. That’s what happened yesterday…
MZ: He nailed it.
Member: St.Germain can only release funds two times in a year. At Christmas and at EASTER !!! I believe that will be the time for the R/V.
Member: Mark said it could go anytime….its just easier to do it at Christmas and Easter.
Member: We are at launch sequence!!
Member: let’s just get the bank and market collapse on so we can get past it and rebuild!
Member: PRAYING that we don’t have to file taxes this year or ever again
MZ: This is going to be the greatest transfer of wealth in the history of the world…
Member: Mark, thanks as always for all you bring to this community.
“THE INFO IN THIS PODCAST IS FOR GENRAL INFORMATION & EDUCATIONAL PURPOSES ONLY NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY”
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
GUYS YOU CAN FIND ALOT OF INFO AT MARK’S WEBSITE: GO TO: https://theoriginalmarkz.com/home
MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/
Mod: MarkZ “Back To Basics” Pre-Recorded Call” for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 11:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!
300 Billion Reasons Why SVB Contagion Is Spreading To The Broader Banking System”
by Tyler Durden Friday, Mar 10, 2023 – 11:22 AM
Update 12:00pm ET: Silicon Valley Bank has been shuttered by California regulators, who have appointed a receiver (more here).
All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.
This will hardly boost depositor confidence in other small banks and, by extension, big ones.
For those who slept through yesterday, here is what you missed and why the US banking system is suffering its worst crisis since 2020. Silicon Valley Bank, aka SIVB, the 18th largest bank in the US with $212 billion in assets of which $120 billion are securities (of which most or $57.7BN are Held to Maturity (HTM) Mortgage Backed Securities and another $10.5BN are CMO, while $26BN are Available for Sale, more on that later )… funded by over $173 billion in deposits (of which $151.5 billion are uninsured), has long been viewed as the bank at the heart of the US startup industry due to its singular focus on venture-capital firms. In many ways it echoes the issues we saw at Silvergate, which banked crypto firms almost exclusively.
Read full article here: https://www.zerohedge.com/markets/300-billion-reasons-why-svb-contagion-spreading-broader-banking-system