 What's going on guys? What's going on guys? Yeah, thank you guys for joining us for this live special edition of the after hours podcast This is our first time using this kind of setup and doing anything live So if you could drop a comment if you can hear us if you can see us if everything looks all right Can everyone see us Are we moving are we we good? Are we good? Just write in the YouTube chat if you can see us So this this podcast we were going to do with bow and bow is going to show up But he's gonna be about like 10 minutes later. So So we can just get everyone in here, you know talk about some stuff or kind of do whatever make it interactive You know So basically this episode we talked about doing kind of a private one originally and we thought that it was a Better idea to kind of get everyone involved in the community In on all social media platforms just so we could all be better prepared for the week ahead I think obviously everyone knows the main topic is going to be the collapse of Silicon Valley Bank And the cascading effect that that's gonna have on the overall economy and everything like that So I think we just got news Harry. What was the last another bank just collab or just was closed by regulators, correct? Yeah, signature bank was just closed by regulators. I didn't really hear too too much about that yet Yeah, we got so signature bank has been closed by regulators and then as well The FDIC they're going to back Deposits the depositors of Silicon Valley Bank. They're basically saying that everyone come Monday will have access to their funds now What that means for the actual bank and for the people stockholders all of that They have said that they are not going to back it. They are basically going to let it collapse, which is crazy So now we're at a point where they are looking for a sale, right? They basically are gonna need someone to purchase the bank To keep it going keep it afloat and it's kind of seeming like if they don't get a buyer by the end of this weekend Things are really gonna break and things can get really really sketchy Yeah, no, I completely agree and I think I think really the main cascade is like a lot of people are looking at this and saying like Oh, like how does this affect me? How does this affect the economy? a lot of people are not getting their payrolls who worked for a lot of these tech startups that were actually banked by Silicon Valley, so that's a big problem for you know People who are just living paycheck paycheck and people who are working for these firms running their payroll through Silicon Valley getting paid through Silicon Valley. That is the biggest ripple effect So, yeah, it's definitely definitely something to to be worried about I would say Ruta, I see you saying that Elon should buy it That was like the big rumor right because he tweeted that I forget who he responded to but he said he's been thinking about it Yeah Yeah, and to me I I would You know, I Don't think Elon's gonna buy that he's that enough of a enough of a stretch with Twitter I think but you know for the most part I just think the overall events and overall stuff like that is crazy Yeah, some people are saying let him fail other people are saying You know keep them coming Yeah, I don't know buy it, you know as David said but Yeah, now it's definitely wild I'm excited to see because bow is someone who's been in this industry for a long time going over 20 almost probably 30 years of Trading stocks and equities and he's just been around the overall markets And he has a lot of insights and he was there in 2008 when we had the great financial crisis So he really wanted to come on today Which he just said he will be here shortly and kind of give his his insight into how everything happened then and kind of What he sees similarities now and he has a really good way of explaining how these things go and So I'm excited for him to get on here as well Yeah, and if we're talking about just the story of Silicon Valley, you know how everything happened And how they how we even got in this spot Basically Silicon Valley Bank invests in a lot of tech startups, you know And obviously through the pandemic tech tech went absolutely crazy the bank made a shit ton of money and What happened is that the bank ended up investing in a lot of like bond mortgage? Mortgage-backed securities and as interest rates went up the value of those bonds went down and then obviously There was rumors about the bank not having enough liquidity liquidity issues people started taking their money out You know power social media is crazy people started to get scared. They started to do kind of a run on the bank I guess the bank took like a big loss kind of before that The CEO started selling off some stock It was good enough for a bank run on the bank and then after that just collapsed So, you know, that's pretty much the Silicon Valley story where we're at right now Now also where we're at is we've also seen signature bank just randomly closed by regulators We don't know too much about that. So, yeah, and Also on the podcast coming up later if you're you know, just joining us Bow's gonna be joining us to talk about his experiences It's good to hear someone who was actively trading in the oh eight crisis, you know, someone who was You know sitting there Day trading stocks, you know in the oh eight crisis It's really good to hear from people who are kind of older than me because like what grade were you in an oh eight James No, it's an eighth grade. It's great. Yeah, so you're a little bit younger than me So or you're a little bit older than me. So, you know, I was a fucking idiot Yeah, no, I think I think one thing too. That's really interesting is for everyone here who's been listening to the podcast These past couple weeks and listening to Harry and I and Alex when you come on, you know We've been talking about the effects of the Fed increasing rates and you know just pushing interest rates higher and higher and The effect on the overall economy that that would kind of bring on and I think now You know, we've said for a long time that we needed a news segment something catastrophic to happen That might trigger either a stock market crash It'll you know trigger more forward and backward direction in the SMP and I think we might have gotten it you know I mean the reason all this happened was because the Fed just increased interest rates at a really rapid rate and This company this bank did not have funds actually to back what they had in money due out and I think now it's kind of coming on to Show and just you know, it's coming out now How many major banks somehow sneaked by regulators? I'm surprised Yeah, I don't really understand how regulators let this actually go by and actually sneak on for so so long at this point I mean, we're now I mean, they're a major bank They're a top 20 bank and it's kind of scary to think that you know What's gonna happen in the next couple of months, you know our people our customers Going to feel that they need to bank at a top for bank like JP Morgan because as much as people don't want to throw around Then the term, you know, too big to fail, you know, JP Morgan Bank of America, you know Wells Fargo, they are too big to fail that that is a bank that would unfortunately the would have to be stepped in by You know, the FDA be stepped in and saved if anything were to happen So, you know what that's gonna mean in the short term, you know, are people gonna be pulling money out of smaller banks? You know our people going to be you know We always say the term bank run, you know, but what does that really mean are people gonna be spooked by all this, you know And I think that I think Yellen and Powell and I think they're doing what they can right now to kind of ensure Safety and some security and people they're telling them that their money is gonna be there tomorrow, but I don't know I mean, I don't know if we can actually trust that and I don't know what that's gonna mean I think a lot of people are still gonna run to take their money out of the bank because it's scary It's scary right now Knowing if you're gonna be able to make payroll, you know, if you're a startup and you're the CEO of a startup or your venture capitalist You know, you might not be able to make payroll this week, right? It's it's a little horrifying Yeah, no, I completely agree. And also, I'm not sure if anyone saw this over the weekend but their reports that You know, love them or hate them but Harry and Megan lost a ton of money They were fully invested in this bank There were some reports that Oprah lost close to five hundred and fifty Million dollars, which is crazy so yeah, there's definitely a lot of you know uncertainty and You know for some people You know It's crazy Yeah, I mean, I think it's out of time right now where it definitely is scary again They're saying depositors are going to be backed But the reality is I mean these people are caring a majority of their wealth in banks, you know as an individual You don't you don't have the due diligence and the ability to even do that level of due diligence on a bank to know Hey, what are their risk models? You know, what is the risk parameters? You know when you put your money into a bank that is FDIC insured You're just assuming that the bank is doing everything they can to protect their risk and to protect the downside and Just to wake up in one day. I mean it happened over the period of three days, you know And I think I think it's really scary and I think that we're gonna find out, you know, just how liquid a lot of these banks are You know, I think that we're very blessed right now that the governmental has to deal with two banks collapsing Rather than if they let this go into the week, you know, who knows and you know These smaller banks don't have the liquidity at these that these banks supposedly did and And he's right, you know, I see comments like the leverages a mobile. It's true You know, these guys have over leveraged themselves They've put a lot of risk on these startups and the capital Allocators that would get bring money back into the bank and you know It's it's not looking like these guys are as honest and upfront as we could have thought we would have like to hope They were as you know, suppose it, you know protectors of our funds Yeah, for sure and you know, I'd like to do something kind of like interactive, you know Because we are kind of sitting here We are waiting for bow to really kind of get this started and talk about some stories and stuff like that And you know in the comments, maybe right like do you think that? The US government is gonna bail this bank out or do you think they're gonna let them dry, you know You know, I think You know, I don't really know what's gonna happen There's reports in the morning that the government is not going to bail them out now later There's reports that the government could be potentially bailing them out Everyone's saying a different story right now. So maybe in the comments, do you think the government? Is going to bail these guys out or do you think they're gonna let them dry? You know be interested to see what people think, you know, Harry. What do you think? Personally, I think that they're going to protect the everyday citizens and the rich people are just going to be left to fend for themselves You know Through like with the government that we have right now the people who are elected in office right now It seems to be that their kind of agenda is You know Trying to make it seem like they're not helping rich people at all. You see Biden come out with 40% Capital gains tax that he wants to do he's talking all the time about oil companies that oil companies are having Too large of profits all the time at a state of the union speech. It was really geared towards Attacking these kind of people who are wealthy and and like large corporations So to me, I think that this is the perfect time if you want to keep on that agenda to say hey Look, we're not bailing them out this time. We're not we're not touching them, you know We're not going to bail them out. We're gonna make sure that the depositors are going to be insured We're gonna help those people out, but everyone else they can fend for themselves and I think that that could be a Very real scenario with this kind of agenda, right? Yeah Well, I think it's really known right now that they you know, they've already said that they're gonna at least back the depositors But the reality is they need another bank to come and purchase Silicon Valley and what I worry about is, you know back during the financial crisis JPMorgan was helping out It was trying to help a Lehman they were trying to help out other banks and they caught an insane amount of backlash and frustration from the government and I think that they're going to struggle materializing a purchase Sooner rather than later and I think that's the cascading effect as of right now, you know We're at a point where tomorrow is going to mark a really really interesting point going forward meaning We're gonna really find out how many banks this actually kind of like cascades down into and you know I think they're working really hard because they know there's serious contagion risk I think that you know, we're at a point where it's really scary to think like how deep do these guys go? You know a lot of crypto currencies and a lot of crypto companies bank with these guys and it just and it just seems like now All of a sudden they're without funds, you know And you know now it's kind of waking people up to these startups in these You know, hopefully founders and everybody like that are gonna be smart enough to kind of take their money and hopefully put it into multiple different Avenues and different banks so that way they can safely keep their companies afloat when something like this happens. Yeah, and you also saw that Cryptocurrency usdc. I believe it was that deep end over the weekend. Yep That that you know, that's pretty crazy. And there was also another guy on Twitter You know a Cameron Fuss I believe that he was talking about how he had he lost two million one of these depagging schemes and That's crazy, you know Like it's absolutely nuts when You have these coins called like stable coins or whatever they are and then all of a sudden they just depag and You know, what are you left with right? Which is crazy. So there's a bunch of things just going down. I believe like Roblox wasn't affected There's a website called xy or whatever where you can like get people to Do things for you like maybe you want like a custom shirt or maybe you want like a Yeah, exactly. Yeah, their deposits were withheld over the You know over the over the weekend So a lot of people didn't get paid and there's a lot of people who are struggling to get paid right now And that is the impact on the economy itself where it's not just like a venture capital fund went down and a bunch of rich people went down You know, that's what's crazy. I heard on Twitter That Oprah is down $550 million that was a rumor about Oprah was $550 million Roku the TV company had millions in there Roblox millions in there as well. So there's some crazy rumors circulating Harry and Megan Apparently want to keep it confidential apparently Harry and Megan now are suing their financial Advisor who advised them to go to Silicon Valley in the first place. So there's so much drama around this Yeah, I think though this is gonna wear things people have to be really careful though Right because the idea of a bank run is solely people getting scared and pulling money out of their own bank Right and people pulling money out of a bank that they think there's gonna be no funds on their funds They're the next day So by seeing all these crazy headlines and stuff like that when you know the federal government they were gonna step in They you know it took them a few days to figure it out, but I've now said they'll back depositors So like all these crazy rumors and crazy things swirling. It's almost like it's like fear bait Right, it's scaring people into thinking that they're not gonna have their money tomorrow So I think that's where a lot of people have to be careful And I think though that this wakes us up to the actual risk of pushing rates as high as we are You know Powell has said he's not gonna stop until he is at his mandate You know that two to three percent inflation Model that the you know federal government has and I think I think this is just showing how bad things can really get On a large scale. I mean we took down a bank by increasing rates at a rapid rate What is this gonna do the average person right? You know and that's kind of like something that's gonna be interesting to hear from bow It's just like what the world what happened in the world when this happened the last time You know when the world really went down and banks were failing I mean it's not every day that you see a bank fail You don't usually see people being scared that they're not gonna be able to get their money, right? I mean most most people out there, you know average Americans don't have more than $250,000 in their bank account. So that FDIC insured is plenty But when the when actually the wealthy people and people with over a million dollars in their bank or over 250,000 start getting spooked that they're gonna be able to pull money out tomorrow I mean what's gonna happen? What is gonna happen in the financial system are people gonna start losing? You know confidence in our banking system overall and the US dollar are people gonna flood the crypto currencies for protection Which sounds crazy, but who knows people have always said that you know cryptos were unregulated And that was the scary thing about them was but in the reality is there's regulators in banks And you know and so it's gonna be interesting to hear and you know, I'm really excited to get bow on Bow was dropping off his son. He will be here Logged on yep Just like that the devil appears yeah, we see you Bow's always looking in the wrong direction. I've never really understood why but Now we can hear we can see you it's kind of like that grandpa of the group now. It's got to give him a minute Harry you might have to turn on his mic. Yeah, there you go. Yeah, what's up, pal? Maybe needs a hearing aid Yeah, yeah, but I think you're at the wrong mic or something like that. You're just very faint This is like trying to help my mom trying to figure out an iPhone. That's kind of what I feel like right now Yep, yep, can you hear us look in the right way? As you guys can see this is obviously our first time doing this Maybe if we all start yelling at him, he'll see yeah The funniest comment I just saw is bow is sending orders for low-hanging fruit Bow do you have air pods? You hear that go away. No, it's just we can't really hear you well really Yeah, you cannot hear me. Well, can we turn up my? You cannot hear me well. Can you hear me now? Is it only here is everybody else? No, I mean, honestly, I can hear you All right, let me put it closer There you go Okay, can you hear me now? Yeah, is it better? Maybe it's just me though can't hear you well What does he sound like to you guys sounds good got better. Can you hear me? Okay? I'm gonna talk right now. Can you guys hear me or not? We got a good turn out guys. Yeah, no very good. They're saying it sounds a little faint on there and a little red It's a little bit faint. I don't think it's hooked. Oh, yeah, maybe is it hooked up? We see here Maybe if you if you click on the Face The three of us and if you click on the three dots Like on your face, okay, and then click edit mic settings at the bottom It is a stop. Okay. They want to do the new settings. Let's see. It's the audio. Where's the video? Okay, microphone microphone. Oh, I know why So the first time using this dream thing and So it's got it on a different setting Yeah, now Because I know we could that's perfect Because what happened was is defaulted to my camera. Okay, so now we're doing it. Yeah, I'm too loud. Now you're telling me to shut up So this is this is great guys, I guess I'm a little dark, but let me turn on bright I He's about to go get his his big special camera from the back, you know the light I don't do selfies and shit. So, um, they sold pictures on the internet I got an idea I Guess you guys want to see my face, but we do we love seeing it. No, but it's like you know where the deep fake stuff could be anybody guys Let's go We could all be deep fakes. I wish someone would make who wants to be a deep fake of us though They could make a better-looking deep fake than me What do you think? Yeah, I think it's coming from the wrong side to be honest. Well, all right guys I'm just really tearing up Give me one second. Okay, as you guys can see His own lighting and videography as you know, we are gay traders. We are not These online guys, so I don't have a studio here with my face on it You should be scared if some guy has like a studio and he's like pretending a day trader, right? That's how you know, it's fake first time ever meeting bow. Everyone's always shocked. He's just wearing a t-shirt and short sleeves We have 250 right now 250 people watching you move a lamp back and forth and We're trying to get this podcast out as quickly as we can it's because I know trading is on Monday I'll talk about the buy trading plans for the stock as well. So how about just screw this light right guys? I'm a really canned individual All right guys, so welcome to the podcast I'm we're done. We'll see you later right now, but uh So it's been a long time guys has that been on this podcast But I called this emergency meeting pretty much like yesterday guys Please please Everybody's talking about and instead of me having to answer a thousand people One at a time including my friends back home I decided to do say hey Let's get this podcast out and we need to get it out before the market opens before because a lot of who knows a lot of our viewers or listeners Have accounts at Silicon Valley Bank or some other bank the last thing we need is for you guys to worry Because you're afraid your money is not safe So where have we started guys? So what do you guys want? So I'm assuming you've heard About Silicon Valley Bank and that's why you were here. So we don't need to get into so the reason why it fell is this guys Okay, so I've done a little research on it Banks fell because of a couple reasons scams In this case Um, it's not a scam is in my opinion. This is my p.m. I'm a lawyer. Don't sue me I think they fucked up their fiduciary duties their risk manager Uh, didn't understand what the hell's going on. They had so much deposits where they didn't know what to do with the money So they got really greedy So i'll tell you why they got greedy. So it's funny because uh, let me bring up And james you pull remember I've posted up who the chief administrative officer He tweeted that out earlier, correct? Yep, and I'm gonna show you so I'm gonna this is where we're gonna start guys. I'm gonna tell you exactly what happened Why the bank failed and how you will protect your money? If someone can find that post and post it Yeah, let me send it to the group chat. It's on twitter It's basically so the guys dude The banking industry to be to be honest is very small just like trading. Um, I'm a trader you guys all know me um Harry's a trader James a trader. It's a small community people know each other right guys And so the same thing happens in the banking industry and so a lot of the executives get recycled Yeah, so this is a good segue into this because They did not learn anything from 2008 guys And so uh, you guys find it I send in Here I'll bring it over Yeah, I don't know how to use this stuff. So I am like my parents And then I'm like, how do you do this stuff? So thank you guys for having all this stuff. Yeah, I'll post it in the uh Oh, it's just it's just funny because like I post this not many people know about this And so it's like it's like what the hell how does this guy get a job, right? Yeah, that was the uh fair start CEO Yeah, let me show you Lehman CEO, yeah, it's even worse. This is the Lehman is the bit was the biggest bank failure Yeah Here I posted it in the uh, the twitter comments. Perfect. Oh, you can't you can't show it on the screen. I don't think so. No Yeah, so anyways, so it's ironic that the one of the c level executives at silicon valley Was the old cfo for Lehman brothers guys Yeah, how crazy is that right? So they're recycling so this is all you would you would expect he would learn something So what happened was this guy? So Interest rates were at zero percent or really cheap for a long time, right? And so during that time The feds did what they did to do to boost the economy I'm not gonna get into politics, but in my opinion it was for elections all that which is obviously true Um, and so I'm not picking any size, but this is how the game works during the times of Voting you want the best economy so that Voters vote for you and so that's exactly what happened. So they the feds pump the markets up They want to and so that printing money left and right to do whatever programs they want to do right So remember interest rates was zero. I think was dude. They didn't go negative before. Yeah Japan was negative. You know what negative means it means that the bank is paying The fed is paying you money to lend out money that they print it is to To spike up the economy Okay, zero percent means that hey, I'm a I'm a big well I have a billion dollars And whoever wants to borrow money from me, I'll give you a zero percent interest. Why the hell would anybody do that, right? It just does not make sense What happens is that it was very they were very desperate to pump up the stock market, right? Because because of coven and so that's why it killed everybody So during the time of coven you would expect logical sense that the stock market would take during coven, right? Like coven they shut down the economy How is the stock market keep going up? It's because the feds were buying the securities Zero percent. They're buying the underlying securities the bonds that push up apple and they haven't bought a fucking apple phone in two years guys I'm the guy that buys five apple phones with my family every time he gets released And and this time the economy or whatever, but it doesn't matter So the point is the feds were giving out free money and so what happens is this So it was just so all the startups. So silicon valley bank is a big bank One of the biggest banks over here. It's actually it's Yeah, I think it's like I think it's like one of the biggest banks in the world, dude, so Stop funny Yep, and so yeah silicon valley bank serves silicon value You know what silicon valley is this startups for technology tech startups So a lot of tech starts go there because that's the famous edu funding for that And so what happens is you have all these deposits coming in so back there is zero percent interest rates So people just giving the banks money even that's why the vc venture capitalists were we're starting all these Startups and where they come to the money from they have hell of money, dude free money So they're just giving out loading out people. So what happens? So now they have all that money in the bank and so the guy at the bank the cheap investment officer in the bank Whoa, we have freaking excess of billions of dollars You know what the normal bank does they give out loans Your traditional bank gives out loans. They take your money. They hold it and they give out loans so it's it's basically The only time that they will go under is all the loans default right guys And that's what happened during the fanny may days and all that we'll talk about that too And that's gonna talk about how you day trade right but but so the traditional model of a bank is they give out loans That's how they They're not gonna fucking take all your money and start putting it to bitcoin And that's exactly why bitcoin blew up. Okay, so we get to that too So the traditional banking model is very conservative because the bank is supposed to be conservative They're holding your money. It's not their money Yeah, is your money When you want the money back, you should get the money back And there are regulators that are supposed to be back from this and honestly monitoring everything that's going on The problem is this the problem is the fact that Everything works until it doesn't right It never fails until it fails And so what happened was they have all this excess money and they decided to buy bonds with it I'm like, uh, they stopped giving out loans. Why wouldn't you give out a loan when you make more money in bonds? They're buying like 1.5% of where the hell the bonds were at right and so the problem is this They're making money cool cool because the interest rates were zero And they didn't they bet they did not anticipate that the fans would raise the interest rates so quickly and so much And so sharply So when the interest rate goes up the bond values go down. So now they're sitting For i'll make it up like 1.5 interest on the yield on the bond Yeah, something like that and then now it's five percent They're underwater dude. So what they need to do is they they got rid of their bonds I think that I read they lost two billion dollars Okay, because when the when the interest rates go up What happens is and then these companies start to need money and so they start to to take money out And so they saw an influx of people Because these companies laying people off didn't have money for payroll and all that and they started coming to the banks to take more Money out and so now the banks like holy crap It's okay one company coming to take out 50 million dollars. It's cool. We have billions But now you multiply in by 200 people coming in the bank at the same time so that's why they call it a run for the banks a run for the bank means that It's a domino effect where everybody gets scared to start running to the bank to take the money out And so if a normal society comes I have a lot of money in the bank. Hopefully right you guys have some money in the bank. Um We're all not all going to take all our money out at the same time And that is what they're they're banking on the fact that they're keeping your money But it's like it's like life insurance. Not everyone's gonna die at the same time But if everybody dies at the same time they're gonna go bankrupt. How can they pay everybody back, right? Yeah, exactly with health insurance. I knock on wood. We don't have a serious health issue But imagine if COVID happened wipe everybody out. Yeah, that's what happened, right? And so If everybody runs for the doctor and has A disease at the same time. They're all gonna go bankrupt But the fact that they're playing the 100 year long game. That's how insurance works They're betting that only two percent of the population needs this Cancer treatment and everybody else just doesn't even go to get their teeth cleaned, right? And that's how the insurance works And so the whatever the bank what happened was the interest went way up so much inflation all this The startup companies started losing money and the bank did not have cash reserves They wasted their money instead of giving out traditional loans or playing it Safe They bought these stupid ass bonds and now they're underwater. They're day trading your money Okay, the fuck Imagine I found that you lost all my money because you traded bonds Oh hell, what the hell you know about trading? Shouldn't you be putting into a t-bill that's safe That's too boring. Why would you put a boring t-bill when the bonds are making five percent? So that's what happened. So they basically gambled guys. They've invested your money Regardless, whatever they said the fiduciary issues Was not good, but this is where the problem is guys the problem is it doesn't matter who's right or wrong The end of the day who suffers is the people that deposit the money in the bank And the problem is this guys Nothing happened in 2008. So I was there during 2008. That's the it's called the financial Meltdown, which is the mortgage and all that crap that they were selling They were making fake income to get loans to buy to get houses and all that shit Right? And so it was a bubble the bubble popped And now they're holding a bunch of worthless Defaulted loans trillions of dollars of loans Not defaulted imagine I buy a house for a million dollars The house is worth 700,000 Because of appreciation all that bullshit that is basically the dot-com bubble, right? So now I owe a million dollars, but the house only worth 700. What are you gonna do guys? Bye. Bye. I'm gonna get back credit. See you And that's what people did and that's what the mortgage meltdown happened all these people defaulted on their fucking loans So what happens is the same thing with the so called alley bank They lost the money and then when that when I came back to get my money back They go, oh wait, we will give you the money. We just kind of chill out You know, and so they try to they try to do a offering They try to raise two and a half million billion dollars or something, right? And when they did that they showed their cards if you like What the fuck? The bank needs to raise money Whenever someone does an offering in a stock what happens they need to raise capital, right? They need to raise money And you're like, what happens all my money? Why do you why do you need money? How can you lose your money that I gave you? You are a bank. You are not a trading fund. You are not an investment company You are a bank So a lot of the people on the street have no idea what a bank does And in asia, this is why they don't trust the banks, but that's a different story um So now what happened is uh one guy starts to get the money out and then they saw all them through the offering and everybody's like Get the money out. Get your money out. Shit's happening So everyone's running through the bank and it's not the little mom and pops guys that they give a fuck about to be honest guys Most of the money 95 of the monies is over fdic That means only five percent Or the normal guys 95 percent of money that's in there is It's all uh wall street money And so biden loves this shit It was a eoc right we're on capitalism and all that but anyways, that's that's besides put it up And so what happens is now that The startups they need payroll and they go to the bank and the bank don't have their money Hey, what the fuck? So so let's call the bank run for the bank and then so the regular stepped in really fast So they showed the card that could not raise two and a half billion dollars guys That's what I needed to do to keep because they lost two billion dollars in the bonds or whatever the hell they lost Yeah, and so now so that so i'm paying the scenario why the bank failed the bank fell Because they're never gonna say this but the insiders were greedy you got my money and what the fuck you do with it Man, you're not supposed to touch my money. That's because the the rules the regulations were designed so that that kind of it's called fractional banking Fractional banking is they they have a limit that because they don't like anticipate everybody running through the bank to get the money at the same time So they they have their models whatever it is, but Fractional banking doesn't work when you're fucking investing the clients money And day trading that shit. I call it day trading because anything that's risky Why would I mean dude? You know rates not gonna be zero forever But you know the it's Wait, then you wake up and you're like, oh shit shit happens, right? And and so that's that's what happened They try they didn't have enough money because they lost money Investing your money whatever the hell it is in bonds and then now the people the the companies are going broke They want to get the money out to pay payroll and then one guy sees that You're trying to offer you're trying to get a loan for two and a half billion dollars That's pretty much what financing is right. That's what offering is Are you getting a loan from the fucking? But no one's a fucking touch that shit And so one guy calls another guy and then next you know remember these are big startups guys big startups not even startups I post the list, you know, they're they're square. That's huge. It's like, dude, this You know, yeah, you know, you see all these things work WorkCuban has eight million. Um, that's nothing these companies have 250 million dollars in there Right that square has 400 million. Whatever the hell they lost, right? And so imagine they come and they go, I want my money And so and I'll give you an example guys. So I went to the bank. Um, this was One year ago and I I I was there for over two hours trying to get out $6,000 You remember that guy that guy's six or eight thousand dollars. Yeah. Yeah, I remember that I was so mad. I was like So what they did was a sir, do you realize, um, that's a lot of money you can uh, people will rob you Why are you using this money for? Like I need my money, dude. Just it's only six thousand dollars You know, and so they're trying to convince me not to take the money out Because you didn't know why they don't have the money They most of the transactions in the world now are all digital No one carries paper money Yeah, that's how they control you which is okay, too There's a conspiracy theory is they want to control it bullshit. You don't want to deal with $200 $100 bills. It's because it's like, dude, man, how are you fucking going to buy a house with a hundred dollar bill? The only people nowadays, you've been honest the only people that nowadays that need thousands of dollars are gamblers Drug dealers and people that are money laundering, right? A legit individual and not going to care on a wad unless you're a rapper trying to show off and rappers I don't want to get into that but they're not legit either And so anybody that so the government way of handling Tax cheats money laundering A drug criminal activity is to not let you have a physical form of currency Because they cannot track you let me tell you some government is all based around money without money government fails Uh defense right we're shipping tons of billions of dollars to ukraine money talks, bro Yeah, and so they would never so people that talk about bitcoin being the next bullshit the bullshit The government would never let that happen and So right now. So you see what's fucking funny, dude crypto's dead And the guys that say oh see the things are dead. I knew it had all my money in fucking bitcoin Uh, I want to get bitcoin out. What do you do? I need to transfer that shit to us dollars And now the uh the peg was that usdc is under it's like what is that guys look it up Crypto might go to zero soon too It's unpacking right the usdc just unpagged that uh stablecoin that uh the bank was involved in or something like that No, it's crazy, right guys. So basically The government controls the money supply because the fact that that's all the government does man Money controls do everything and so it's not a bad thing It's digital that control by the government. It's not a bad thing I love the fact that they control it because you know, why not do anything illegal? I'm not doing anything illegal Why the fuck do I care about bitcoin? I'm not here smuggling fucking drug money or cartel money That's how they that's how they fund uh criminal activity guys through fucking anonymous crypto How do you think people fucking pay for nuclear bombs in russia? Do a wire transfer through city bank They're not carrying a pile and that's why the us dollar only caps out of hundred dollars guys Is very difficult think about a hundred dollars been around for ever inflation now hundred dollars barely by me big I wouldn't dim something they cost me 220 bucks But in europe what's the biggest denomination in europe the 500 Thanks 500, right? Yeah Yeah, that's pretty huge guys That's pretty huge So what they do is they they money launder through uh crypto and then uh assets like Diamonds and not even diamond diamonds arbitrary like gold the gold's heavy. Um But they do uh, you know what they do in cars collectibles like art and ft's and all that and we won't Think of that but so so so i'm stating a case where do not get into this conspiracy theory Where you think is the banks are bad the banks are not bad guys The banks are good If you have lost if us look at celcius look at uh ftx They don't have fdic Yeah You know the f stands for you're fucked Fuck dick So the banks are good because you know what your money's safe guys Five percent the normal people like us fdic used to be $100,000 now it's $250,000 So that means a normal individual a normal working individual don't have $250,000 in the bank But if they do it's covered up to $250,000. I sleep at night Rob my bank. I don't give a damn. It's assured by the u.s. Government and oh you trust the government I trust a guy that has a nuclear bomb You're gonna fucking fight them with a nuclear bomb So who has the biggest weapons wins so So so fdic stepped in and said on monday the people have their money up to $250,000 Us normal people You know who loses these startups these greedy motherfuckers and you know why they're all embedded with the regulators They're all embedded with the bank president ceo and so what happens in 2008 they didn't learn their lesson Okay, uh, so they raised up 200 but the problem is this the problem is So I'll get it to um, okay. I'll stop here. I'll take questions guys. We'll stop here right now Any questions from the panel from the comments? uh, I just thought uh What do you think about like a central bank digital currency like if they tried to make their own crypto in the states Anything about that conspiracy? No, they already have a pilot program in new york for its own digital currency Um, I know someone who works for the federal reserve of boston who they're working on in here as well Uh, it's going to it's going to happen. I mean, I even notice. I don't know if you guys notice in your everyday life that cash is just Becoming slowly and slowly less involved You know It's a digital fucking currency, right? Yep We have that fucking paypal them ozell The fuck apple pay we have that already dude But there's been rumors going around that like Um, yeah, and this is just The eventually what this is the the good thing but the only thing crypto is it's the blockchain It's it's a currency on blockchain. That's it. So when you talk about crypto, it's not crypto They want is is blockchain for the government has blockchains in terms of wire transfer. They just basically they want to Take the dots right paper trail And so the government having their own digital currency Crypto blockchain Who gives a fuck doesn't change anything that we live in it makes it makes our life easier It makes money laundering harder. It makes criminal activity harder The normal people I don't give a fuck Do you care you're doing a draw a transfer already you got a bank card everywhere you fucking go? You have this is as fucking funny. We have a phone The phone even though it was off gets to listen to us There's a gps in here That they can track you around the world and your word about Crypto and they're talking your and most of these guys got two dollars in the bank. They got what fucking one dodge coin Okay, and so you have another so it's basically it's only the criminals guys or the fucking guys that have no clue What's going on that's worried. I'm not worried um What I love about the government is this You know me man. I hate these big things, but what I love is the fact that I know my money's fucking safe I Put it my money under the mattress. Someone's gonna rob me. I put in jewelry. I'm gonna get raw when I walk to the store I'm gonna give to my local blown shark or mine You know where you gonna put your money dummy. You're gonna put it to uh, uh FTX You're gonna put it to mount gox You're gonna put it into a fucking crypto bank. That is my shirt. I want to buy some metareal state You see so all those companies are not sure so this is the problem the problem is The banking system works. It's just the greedy motherfuckers that in there that Are don't think about these the worst case scenarios. So I've thought about this guy So any question before I move on because this happened to me before Yeah, one of the questions that was asked a few times is how do you think uh, this bank collapse is going to affect the average person So just like and I just said that The average person sleep at that no war if you have more than 250,000 in there, you will lose it The average person do not have 250,000 dollars in their fucking checking account Right if you have more than 250,000, I don't feel sorry for your ass You're a greedy motherfucker Right. Oh, I'm making all this free money. So, you know during the the the crypto days, uh, the crypto banks told Everybody to put the money into the crypto bank instead of putting into a city bank, right? Because the crypto banks are making 17 percent 12 percent 17 percent 20 percent sometimes even 25 percent, right? You could stake it for like 20 percent Where are they getting all that money from? And the moment that crypto stops going up Interest rates go down blew up blew the fuck up Guys got millions of dollars of bitcoin gone Calling the government help me help me. I just got ripped off in the gut And and those are the same guys go fuck the government. I hate the government. I'm gonna decentralize this shit I don't trust the system and now when When you go off on your own and and this decentralized bullshit scams you You call the police defund the police and then someone brings you out. Please come now. Please come now I just defunded the police of these all these criminals are trying to rob my bitcoin They took my bitcoin Okay, so so be careful what you ask for I don't believe in that bullshit decentralized bullshit because at the end of the day They will fuck you up They will let you die. They let the the government laughing at all the crypto bank failures They're prosecuting ftx. They're not they're not helping The depositors of help ftx. Are they they're just saying You You got it. You are afraid of big government. You got it. Now what? Uh, uh, are you insured? Your whole point was you don't trust the government You took your money out of the bank to put into some scam Uh bank that has no insurance. So now you cry in the government for regulation I thought you didn't want regulation So what happens to the little guy? Nothing We laugh Fuck you dumbasses I trust the government Got their money back On monday morning fdic is working today to make whole Every fdic insured customer, but fdic only goes up to two hundred fifty thousand dollars That's still better than a hundred thousand dollars when I grew up When I was trading back then it was a hundred thousand dollars Well, we'll talk about that a little bit So bell one of the other questions that popped up is do you think that this is going to affect the rate hikes? From Jerome Powell at this point Let me tell you something remember last week pal said we still got two million people left to be unemployed Talking to elizabeth warren they were in the spat, right? Yes, it was important. You understand those humans Yes, I do but we need to because we need to stop inflation So the fans are doing exactly what is intended They raise rates The smart people at the bank should understand how that works, but these smart people are what? ex-leaving brother motherfuckers And you know why they do that guys no one went to jail 2008 no single person went to jail Billions and trillions if you walked into a bank stole twenty dollars from the bank you were in for 20 years When you rob a hundred dollars from the bank you're in joe for a hundred years When the bank robs you of a billion dollars? I need more training guys my bad. I was I didn't know So they said you see wells fargo remember wells fargo make a lot of fake accounts and stole money from people No one went to jail What we do is we realize it's a problem. We will train our people better You're the motherfuckers. I told them to steal people so that you can make Reports for your tank you should your stock don't tank The system is broken because it's broken by design Because the people that designed it They don't give a fuck because who's gonna bail everybody out? We are our tax dollars They made so much money pull up what we posted how much the insider sold Hours days before this class the ceo sold. I think it was 3.2 million dollars worth of stock So I posted all dude pulled up dude. It's not just the ceo the insiders So let me pull it post. Okay. Someone post what I posted in my seat. Did you post it on twitter bow? Yeah, let me they don't gonna retweet this so you see all this stuff guy. I mean I just put it in the comments M.i.c. I told them. Okay, let's go through what what was posted in my hair here guys So read this. Um, I don't know how so if you want to see it go to my twitter bottom of scuara Harry actually posted it in the comments. You can click on that link right there So I posted with it I people in m.i.c. Was asking me that day should I buy it? Will it go up and I told I'm gonna read exactly what's happening. This was like half an hour before it halts it guys So I want to read I was like s and b is at 40 bucks right now Okay, no, it's about to go bankrupt and get halting you lose it all And they went from 40 bucks to 34 or something like that. Yeah, and people So why do don't touch this shit it's gonna hold and sure they don't know but not only that I repeated I said Remember this guys Lots have insider information Only bad news are coming in my opinion. They are selling everything they own Look at this charts, right and filings came out later that the ceo and the insider sold all this shit, right We now see but you you you don't think they know what will happen bankruptcy That's why they're fucking silly shit. You don't think A bank of that magnitude the guys inside knew that they had liquidity issues a month before this happened Same thing at leanin brothers. Remember all this movie we saw. Yeah They were inside with the fucking sec would fucking the treasurer trying to get bill house and all that You don't think they they know each other Yeah Oh, I didn't know this shit's going to happen. But I just sold all my stock. It was just coincidence Oh, I'm just trying you don't think a ceo knew this shit months ago Go watch what happened 2008. What are the move those movies that uh the documentaries that is all about that, right? The big shorts a good one. Yep. They are in there for months trying to figure out Shoot we let it fail is a systemic issue. Is it gonna cause anything else? Dude, they're fucking just mind but they're playing with people's fucking livelihoods Yeah, and you know what they made money You you see any clawback Usually there's a clawback, right? Like when When was that guy? Uh The biggest swindler guy When they caught Bernie Madoff they uh, they made everybody that profited give back the money Even old like old like grandma and grandpas that made money. I just watched that documentary on net netflix I mean, I think it was on netflix. It's fantastic They mean but the CEO of this bank He did this video from one of the most exclusive high-end golf resorts in the world in scotland while he just passed out 3.2 million He's wearing a fucking scotland Fucking shit. Okay. We'll talk about but so basically always say so the problem has happened to this guys No one was I held accountable Everyone says it's a system failure my bad No one was in prison So nothing changed these guys made out like bandits, right? They made money billions of dollars or whatever the fuck they made right and then what you really think they give a fuck about you Because you know why guys they know that fdic will save the little guys As long as we save the little guys the little guys not gonna say anything The little guys they're gonna blame it on the big guys, right the big corporate monsters Yeah, and so So now that you see the monsters are The little guys all their money back because fdic is two and fifty thousand dollars guys So as long as you got your money back, you're not gonna fucking say shit, right? You're just a system worse I love this system It's the people that lost or the rich guys. Ha ha ha. I love it. I love it And so the cycle repeats because no one's going to go to prison Because the system's designed for greed because this never happens, right guys This is like a it's called a black swan, but as a trader, we know black swans happen all the time Yeah, but of this this happens a lot guys. I'm pretty damn sure but it's so small or they put on the rug It's just this one was so big And it happens so unexpectedly Yeah, well, there's another one that closed Signature man Dude, there's a lot of these banks that closed and I don't know the reason why they closed but But if me and you ran a bank And In the fast we're giving a zero percent to loan out. I'm fucking loan out all day long I'll make less money, but I will live Not worried about hurting people I would have a business for a thousand years Or you can get rich quick like in our industry, right guys Do the puppet dumps like those guys make millions of dollars in a year go to prison Yeah But the fact that they go to prison no one's going to do it again But in the investment banking industry, that's just investment banking I make my billion dollars my bad onto the next motherfucker And so The little guys like us should not worry. This is where you should worry Okay, so I'm gonna stop for any questions and then I'll move segue this From banking into trading. This is why we called this It's any questions so far guys you guys understand banks are good Because of insurance. So let me finish. Let's think about the bank insurance Cash who the hell could get sure billions of cash? You can't because someone can steal the money and say And so what happens is a lot of things are not non-insurable. So So the things that if they They're buying these bonds, but at least but they're losing at least they're losing that they did on their own right? No one stole from them What happened is They lost two billion dollars of your money. That's the problem And so the money that they're playing with is not their own money Is you know and then and then and then what happens is that it cost a lot of money to run a big operation like that So they have their own operating costs on that So when you add all this thing and then when the money stops and then was running for the bank, you have no choice But shut down the bank So what's going to happen is this guy so I'm gonna finish up real quick on the bank. They're gonna try to clear out all the assets Uh, and then sell whatever is left and see what left and they'll pay a percentage To whoever's over fdic. So that so I think on monday. They're gonna give you a some sort of multipliers some percentage They're trying to figure out what is less to sell at the bank and so And so they they so it's very rare, but it's so but the system works the regulars that the Freakin fast they halted the stock so no people can lose You're gonna wake up our money. Let's get you guess how how much do you think the stock is gonna be? Oh, man, I think I don't know 10 bucks five bucks Or do you think lower people are saying like otc types? Yeah, it may not even open guys. I don't know Let me take a look at the halt. Let me take a look at all. So we'll get to so what this is a good segue to that Okay, so if you're a big wig and you have money at the bank because you have a So I I have businesses guys and I have a count Over $250,000. So there's a big wake-up call for me too I deal my money not in these these banks that I do traditional banking So the number is if you want to save yourself Don't put your money into these high flying banks that try to give you the best interest because they are investing your money Fuck one percent ain't gonna fucking teach my life But losing a hundred percent of my money will fuck me up So what you do is you go back to traditional bank. Don't be scared. All right, so I'll give I'll give you advice on how insurance works The fdc fdic is $250,000 So if you have a million dollars, what you do is you need to open four separate banks You people talk about subaccounts. All that doesn't work. You know why because uh, It's not by the account. It's by the category checking Stock whatever they have categories that says you're limited to 250,000 dollars per category Okay, and and so what you need to do is find so back in the day when I trade a huge size I had um Mold I had like a few I had every account on the street every broker because I because fdic only covered up with 200,000 Whatever right and so We'll segue to that but I'm talking about the backstab So what you do is this if you're a normal guy that has less than 250,000 Put all of them on bank. Who gets the fuck is all fd make sure it's fdic approved. That's it And you can find out by google online Okay, um But I have my money at city bank, whatever it doesn't matter where it is. I use I use have every fucking bank because the fear is Even though it's insured guys it may take time You get your money back And And you see my heartache over two hours I had to call the branch manager the branch manager had to cost me one else Just get six thousand dollars out. They did not want to get me six thousand They were trying to they were trying to size me up. They were trying to convince me not to get They told me come back the next I'm like Six thousand dollars And I'm not that's a lot of money. I'm like I don't want to think about but that's my fucking that's my locate fees You know big for some but it's like it's your money right and so what you do with these guys you spray money around The key is why have all your eggs in one basket? Spare your money around for bank. So so I'll give you example If your bank ATM limit is 500 bucks have a savings account in the checking account now you have a thousand dollars And you have a couple banks and now you can go around but they do that purposely you want to get robbed and held And then you they take you to the ATM and they withdraw a thousand hundred thousand dollars, right? So that's why this helps you But the key is if you're a traditional banker if you do traditional banking guys find a traditional bank But even if you don't find a traditional bank, it's okay Most of you guys probably don't have two hundred fifty thousand Dollars and cash just laying around just chill it in the bank, right? But if you do have more split it up different banks Now, you know 250,000 is the limit if you have over If you have 250 million dollars DM me, I would help you If I figure out so I'll stop there and I'll segue into stock market and brokerage stock brokerages And this is why we're here We are day traders and so I want to tell you how to save your money In case the stock brokerage goes down because the stock broker is the same thing as a bank So I'm going to stop there any questions so far guys Does does that make sense? I mean that's kind of clear up and uh Because I want to calm everybody out. This is fine. I just love it. It's like pop will get popular now This is going to be a next American greed or or a new Netflix documentary series. Yeah And this is going to be good guys the next segment take a breath go take a piss Drink some soda. Where are you drinking? We're talking about stocks and how you make money We're gonna talk about good opens Funny enough future they're ripping right now. I think people tend to think that we've actually nicked in the bud somehow So, I mean the future is weird. I don't know the movie. It's the fact You know the fdic moved in quick, right? So they moved in quick and they said I'm going to make everybody whole and then they acted very quick versus If you delay it and the uncertainty Authority is what kills the market, right? That's already like So did the vixx go up or down? Is the vixx is there a vixx like a 24 hour vixx? There is I don't think so, but the vixx spiked on fri, uh, thursday into friday Right. So now it should so people probably long the vixx overnight But now it's gonna drop down because the markets are rebounding, right? So the markets did exactly opposite That's because you know what man fear the the height Of fear and panic is usually signal the bottom When you see people lining on the streets remember grease all that crap people fucking running from banks like that When you see people lining up on a sunday trying to get their money out. It's like Words out. So the bottom might be there So if you're shorting when you see people on the street, you're too late, dude You should be shorting when you saw this this guy insider guy sweating and selling his his stocks, right? And so the people that are shorting at 40 bucks To be honest the stock is going to tank. Yeah, so vixx futures are crashing from 27 to 23 right now There we go. Exactly. I said the vixx. Uh, it's it's the fear index So right now people who I got my money back, right? People are afraid that the the government don't have no money to give them back or delays, right? But the fact that on monday you got your money, bro We'll get you 25 bucks that you have your checking account. Go ahead. You're cool So But that doesn't solve the situation. So exactly what I told someone I was like, you know, what's gonna happen It's gonna create it out and it's gonna bounce and so after this So if you want to start I'll start talking about stocks right now and I want to give you game plan Because this is how I made money in the in Fannie Mae So how do you protect yourself in banks? You know the fdic federal insurance is $250,000 the same thing with stocks If you have a stock trading account and it's under 250,000 nothing to fear about nothing to fear The only fear is don't put yourself into some weird ass non-traditional Chris What's that that fricking is really? The neck guy What's that that guy trading that I don't want to say anything Anyway, there's a lot of weird ass companies that try to circumvent powder day trading rule And so you get through these weird situations where you're trading a sub account of some other sub account of some guy's account The first question you gotta ask your broker I'm telling you this this is excessive for you to protect yourself First of all if you have under 250,000 If you're with a traditional broker you're gonna look up you're gonna look up google they have a list That is the broker in is the broker licensed Because if it's licensed all that you have fdic insurance But if if if I create a new fucking broker it's like a bow bow brokerage you know Look it up. You're gonna look up. It's about brokers exist But if it's a normal brokerage guys, uh, which most that we do It's insurance. So you don't have to worry guys. Don't don't don't be panicking try taking money out You should panic only if you have a like over 250,000 dollars Because if the broker Brokers did what they did it happened guys. What happened is this so your money should be segregated, right? segregated funds So the broker is supposed to take your money so that the the broker doesn't really have your money It's the clear and firm that has your money The broker is the middleman the broker is the cashier at fucking with whole foods Right. He's just fucking do your shit. He just he doesn't hold your money Um, so who holds your money is the clearing for you have to be very careful If you have million dollars, okay So I have many millions back in the day in the in in a few trading accounts And but every week I asked him so what happens is this is the secret guys. So it's a sex trader The reason I'm with a sex trader because they they uh, the parent company is regal regal has been it's a billion dollar Public company it's been around for like years like 30 years or something. It's a billion And I've been trading them as a private as a private trader that so during the fending may days All that stuff right I have a bunch of brokers Um, they have a so I asked them this because I have like five million dollars in there, right and so I'm like where um You only sure federal fdic was only 100,000 dollars And I'm like, I'm not gonna open up fucking like where can I find that many brokers, right? So what I did is they have what's called an insurance rider It's an insurance policy over fdic And so success trader Has a 25 30 million dollar rider through Lloyds of London Others are through aig and that's why back in the day when they say too big to fail aig was insured was ensuring everybody So they had to bail out aig If they did not bail out aig The whole system is systemic. That's why it's too big to fail. It's because one insurance guy was Securing everybody and all that crap But uh, I think I told you guys this uh, if you take a look at us treasurers. They're all Goldman Sachs Yeah, so you see how the system works guys. It's works by design Goldman Sachs CEO X all those are the let me take a look you you can go someone google this for me when I talk A harry jay's look at you had uh treasurers And they're Goldman Sachs So that's why they call the evil empire. So during the during the 2008 by uh bail out all that shit aig Got bailed out the only Like one of the people that got Bailed that whole like dollar for dollar was Goldman Sachs They should be getting 50 percent 30 percent like everybody else, right The government bailed out everybody takes a hit at least you don't go to zero Goldman Sachs got bail 100 why But anyway, we won't get into that but the system is by design don't hate it This system makes the people that are informed. That's why you join m. I see you're informed. That's why you're here On this podcast, uh, we have a know how how many people are here James 300 and so That's good. That's three or people. That's more educated and then we will keep playing this but um So now you know how protection if you have a million dollars guys you ask your broker you have an additional rider insurance to cover that Okay, um, I've had the so I talked to the CEO of Success Trader yesterday. He's gonna come out with a letter to ensure everybody that their money is safe Because you know, this is we we I've done this back into back in the day guys when it fell out of scare too And so every fucking time I'm asking how do you ensure all my cash? So there's a couple ways they ensure my cash back in the day um No one can ensure cash much because this is fraud too much fraud on cash Um, but they will secure assets. So if you have If you have 30 million dollars in cash, they may not they may go up to 10 I don't know why this you you need to ask. Okay, because um, um, but But that's why do you have they that's why you buy let's say an index fund or something stable because an asset like stocks is assured up to like hundreds of millions because You know, like they sure they sure Not because you're gonna lose money sure like something that someone steals like, you know, the the the crypto fucking banks, right? They fucking stole your crypto, right? They disappeared, right? So they sure from um from theft and criminal activity So cash if you have too much cash out, it's like this it happens, but but stock is it's hard because I can do how you You're gonna get my 10 million dollars with my apple stock. You can't get that shit, right? It's very difficult, right? But cash against you so anyways, so they have additional riders over there It's called insurance and so I'm gonna get where it's for a success trader clients I'm gonna get out a letter from the CEO that will tell exactly what the limits are guys And you guys are all protected So the only people that should be scared are the people that have too much money But yeah, this is your this is your wake up Val, you're saying that not all brokers guys trade zero is good. We are we working here to zero their us Brokers they are fdi insurance. See me sacking. Yeah. Yeah, as long as it's not some sketchy Uh, like you were talking about the long neck brokerage as long as it's not some sketchy ass overseas. Uh, yeah a weird ass shit that's I mean, I will that's the same in the different but but don't be afraid of What happened to silk on You're completely fine Okay, you completely fine as a normal trader. You're completely fine um Let me see what else. Um Okay, any questions there guys any questions of brokers. I'll stop on brokers before I talk about trading The trading is going to be cool. I mean, I'm gonna give a game plan on on how I see you guys making money on on these bank failures But any questions on so we talked about banking Okay, so you understand. Okay. If you have more than two to five thousand dollars in your bank, you're screwed Go find another bank and put it in if you have ten million dollars. You gotta find a lot of banks or or Or you put into an asset You don't need all that cash. So what happened is those that have more than millions of dollars in, um In cash, they want to make five percent. So it's a sex trader. I just talked to zio So that's where it has t bills special program with the treasure bills Okay, those are insured obviously, right? So you ask treasure bills They give you five percent annualized interest So you park your money instead of parking your money into the bank and not getting fdic They should have parked it into treasure bills and put it into sex trader And you get 98 percent or something. He said that you can trade off of it So that money is art. It's safe and you can trade off of it So about one of the guys have over guys have over one million dollars DM me on twitter We'll just talk about it and i'll tell you i'll i'll let you talk to the ceo of uh success trader Because that's how you get protected guys. You have to understand most people never never anticipate Bank failures, but i've been through, you know, you know, you know what i've been through guys I've been through 9 11 I may look young and hot and fresh, but i'm an old man, right? I've went through a lot of crap I lived um in new york city one mile downtown new york one mile from 90 level when it happened That was day trading when it happened. They shut down the markets And then like the stock halted and everything and i live one mile from that uh on the the great blizzard of new york city The northwest blizzard i remember you've been there dude. It's like fucking blizzard blew everything. I was there too um the blackout Dude, i think i'm a i'm a fucking magnet for disasters Wherever you go everywhere. I go bro. I'll tell you man. I live through. I live through every freaking crazy disaster of the class I'm a little man like many decades, right? So one of the uh One of the questions. I know james is gonna mention this one too um one of the questions is uh, do you think roku or square are gonna Have to file for bankruptcy or do you think that they're gonna have to raise money? So the government is gonna help because they don't want to cause a systemic fear What they're gonna do is they are going so i heard that they're gonna They're good because they're not gonna go to zero the bank has assets The they stepped in very quickly before that they can try to hide the money and do whatever they need to do right So the bank to possession The bank that's pretty fun crazy, right? So the government to possession of the bank and so they're gonna So that we don't really know because we don't know what the assets left of Sivb You know and so the government's gonna figure that out and then they're gonna give them emergency money or the fucking Because you do you guys if you have 250 million dollars, you don't need all 250 million You just need to make payroll Yeah, and that's usually what it is. So so and so so the fear was Fuck they're gonna lose all my money. I got to get all of it out. Which is true Because I have 250 million dollars. What do you do is I'll take out 250 million Uh, 240 not 250 million minus 250,000 Is so so for us normal people's fine for the roku guys They I'm pretty sure they're working with the government to figure out what the ratio is Um, and they can get access for funds And and to be honest, I guess now they're gonna go extraditional bought model of getting loans. So roku is gonna get a loan Do you think they've stopped this before it turns into like a 2008 like type of financial crisis did they step 2008 was systemic meaning like You know Bella AIG it will Take out and bankrupt others. So this is kind of systemic But systemic in what's what magnitude? Uh, the bank has how much under deposit can someone look up So they have most of these are startups guys, right? Apple is not there Um, there's a valid bank is is a bank for startups They have a lot. So the systemic uh is for Someone said that it put so-called value back 10 years of innovation A lot of these companies will get wiped out But they're too small to care about so there's too big to fail and too small to care You see so these companies are too small to care So do you think there'll be a lot of startups not being able to make Payroll or just slowly kind of shutting out a lot of cars gonna get wiped out They simply don't have the funding they lost the money So I'm a VC venture capitalist, right? I gave you 25 million to do your startup You put that shit into Silicon Valley Wake up. It's gone. Uh, you're done Sorry, you're done Bye. Bye. That's why that's why these guys, uh The systemic is not there's multiple layers of systemic, right? Or They don't really give a damn if 50 startups die But they will care if AIG doesn't ensure All your mortgages Right, so Fannie Mae and all that fucking shit, right? We'll talk about trading a little bit, but systemic is a big magnitude or bigger than one bank The even with systemic is because I think they they They had so many derivatives or whatever. I'm not I don't remember but they they were tied to everything else, too There's not just one bank going down. So Silicon Valley Bank. Yes, they had a lot of clients But tell me how much is under a deposit who will I real quick? How much how much a mirror deposit? And you'll see the magnitude of the big SPB at 209 billion of total assets and about 175.4 billion in total deposits as of December 31st 2020 95 percent of that. So basically 150 million 150 billion How uh, it's uh, how much was a mortgage? Uh exposure trillions, right? So It depends on who Who dies that they consider systemic These this is like, okay, we're gonna step in and save the The the little guys it's fine. But if the little guys go down there, they don't get reelected So the I think it's a lot of political It's the god It's gonna be a lot of political thing too tied to this because like dude, I don't want to say anything So how many billions now do you crane? Yeah, and they're like, oh what the bank fail That's why I'm in a joke guys people hate this joke. I said, uh, Let me tweet the joke you want to tweet to put that through the comment section I was like, uh, Silicon Valley bank is uh breaking Silicon Valley bank changes his name to Ukraine Valley bank to get funding from the government Have a little youtube tag on it that says Do not watch Yeah, yeah, you see so uh When you see this And you're unaffected meaning that you don't have money in there You get sad or you say that's the system, dude. I'm not sad What I'm sad about is if they don't make regulation changes They need to keep more of your fucking cash available for you to go That's what I want They need to change fractional the percentage of fractional banking And they need to They need to separate remember when when jp morgan bought chase They had a trading firm investment firm and a traditional bank and they're like, what the fuck they need a cigarette that money You can't be taking money from me and you and my mom And give me the jp morgan a fucking like Trade derivatives and whatever the fuck they're doing right guys. They need to create your funds So you so the fact that happened an investment bank is different than the traditional uh the savings bank They're an investment bank. That's not a fucking bank They just call that shit banking is not banking. They made a different type of banking, right? And so the the fact that I happen guys you already knew that this shit's gonna happen again jp morgan now merges with chase jp morgan's what they don't they don't fucking take deposits They're fucking using that money to fucking day trade Yeah, do deals to do whatever they do. So the fact that that happened and then it took this like 10 years When was when was the merger? When was merger AP and chase 2004 Jesus that's before the 2008 you see so man you see man didn't learn shit They learn shit They combined the fucking investment banking with traditional banking and this is what fucking happens, dude Same fucking shit. They took your money and lost on bonds Lockdown to like bigger banks like jp morgan and like bank of america Do you think that people are going to be scared keeping their money even the little guys keeping their money at a meme did I post the meme remember the meme with the With the Post that tweet that too. Good point. Good point. Good fucking point I'm gonna post that this is funny. You see all this shit ties in man. I'm glad that you guys see all this So crim kramer came out with a tweet Uh, that says jp morgan is a fortress The fortress of what? I'm terrified So yeah, I'm actually terrified of that tweet So so jmg hit it on the you hit the nail in the head Uh fpx with investing right they're trading uh clients funds, right? And now svb and now jp morgan chase and so uh, what was the price of fucking uh jpm? Let's take a look at the fucking i'm to be honest. I don't trade this stuff guys I don't really give a fuck. I think we'll talk about trading after this, but you know, but this is very interesting Those that do i'm going to give you game plan on how you can fucking like Take money like i do on spending man Yeah, let's see if jp went up or down. Are you telling me just in by the way coinbase holds 240 million In signature bank, which is collapsed just over an hour ago Yeah, that's another thing to coinbase always say that again james repeat that again coinbase holds 240 million In the latest bank that just collapsed about an hour Coinbase so coinbase is gonna go Great coin so coinbase put their money in there Yeah, they had they had 240 million in uh, the new which bank was that that just collapsed the new york bank Coinbase is fucked That's a lot of money Signature bank yep 240 million and now collapsed signature bank Oh my god, so what's the coinbase tank on friday? Well, just they just about closed now. Yeah, uh, just closed uh the today bank a public company signature bank is Not, I don't believe The coinbase did tank on friday Signature bank is sbny Yes SB ny It's down 22% on friday Yeah, I did think so the so it's coinbase tank because of that. Is that the clothes? Oh You see the scary thing is coinbase tanked before news came out that sbny was closing and being shut down by regulators So what is that going to do a public company like coinbase who is called crypto backed? I mean, they're public and it's huge in this space guys Do you guys just did you guys just hear what I just said to you guys earlier about these crypto motherfuckers? Yeah, this is like a nice world right or right back I even know about this guys you see and then also in the tweet that james uh that kramer posted makes sense to you All right, that's what people are scared shitless Because every so every bank that is trading your money is exposed to interest rates fluctuations like that and and these banks they're they're moving billions of dollars guys. They don't they don't just buy Uh, they don't buy g and s stock, right? They they they just want to make their few percent points and off a billion. That's a lot of money, right? Even make a 1% 1.5% on billions of dollars out of money um And so now so these guys are all fucking trading your fucking money and that's the hot That's why I think credit unions are better sometimes So you if you want to be safe research credit unions Their fees are lower and all that you really don't need a traditional big bank guys unless you want to do uh Loans and all that I think credit unions have loans into too. So this is a good. This is a good wake up call guys for everybody to audit audit where they put their money Who they trust their livelihood to We sometimes we we take it for granted because it to be honest. It doesn't happen Often and when it happens guys me and you are safe. We're not billionaires I don't have fucking 50 million cent around if I did I put in the real estate which I do So, you know, I'll talk about that in a little bit too. But um, but all these companies that are greedy They're greedy for a reason because it works. It works. It works all the time. It works all the time They just need a little loan to get out their little problem Make sense. And so Same thing with tesla guys. Remember tesla just needed a little loan They got the 50 million dollar loan which prevented them from going bankruptcy and now they they went from Near bankruptcy. They were literally hours from bankruptcy. They got 50 million dollar loan Then they went because of that they didn't go bankrupt. They became a trillion dollar company So if these banks had two four five billion just someone just A low shark gave it to him for a few hours a few days and few weeks. They will get out of this jam But if you don't have that money You must sell your assets You see an asset is a bond. It's all that stuff as well Bitcoin futures are up 10% even with signature bank going down that is You know what big ones up You know what big comes up because it's the run for the banks people think that decentralized or the bank they will trust the banks It's not because of this shit It's because in my opinion, this is my opinion. Obviously People people are idiots. They don't understand. They think that oh the banks are safe The banks are not safe dumb ass. They're safe. It's safer than your fucking crypto You put that coin base. You put that money in your coin base. Let's see what the fuck happens on Monday Now I don't think they because they coin base says that they can't take money out, right? They they put up something that said they can't take money out because of the US dollar Yeah, there was a lack of withdrawals, I believe when USDC got depagged Now bitcoin is squeezing. This is awesome. It's almost like they're listening to us yeah So So what you guys do is this guy? So you guys we're all protected guys. Don't be afraid I'm glad that you guys came along. How many people still left with us on the podcast guys. Uh 303 That's not bad. Um So don't worry. So let's talk about the next step is let's uh, oh, so I don't Trading how do you make money? How do you make money you make money? when I bore buffets says guys you buy when there's fear Right when people are selling that which is true So what happened is is people think that these stocks go to zero overnight The company's bankrupt goes to zero. So they go all in on the short and that's how they get squeezed bankruptcy takes years It won't go to zero But new traders. Oh, shit. It's going bankrupt. I'll go all in on the short. So what happens is this there's usually a squeeze Before it goes down because there are a lot of people that want to get out. Uh, you remember, um AMC stock You're like, what the fuck it takes a little bit and ripped everybody up right and then Went down and went back up Insiders need to get out their friends and family need to get out funds need to get out The funds don't have access to insider information right now. Take a look at sivb. Uh, how many invent IO Let's take a look that'd be interesting institutional ownership That was putting fantasy orders or somewhere already 96.5% investor institutional ownership 96.5% It's a real company You don't think these institutions got out. They're trying they can't get out. There's no liquidity and plus they're They woke up just like us and what the fuck happened? They're calling the guy the bank like big up the guy's not picking up So how you make money don't fucking short the shit this low You're gonna wait and watch Where it capitulates where the fear is at the maximum where your mama your kids are loud like the door trying to Take your money out trying to scare you to bigger scene at that point go long After everybody gets out I don't care where it is, but if you short put a stop loss So fanny may went down from pennies. It's up to like five bucks worth of fucking maybe Okay, because people thought fanny may go back. Oh, it did it went to the bullet port and went back up But nothing goes to zero guys fanny may is still trading at 43 cents. I looked at right now 43 cents My thoughts go back up. Nope. How long they came more and all that Okay, so there's always an opportunity the opportunity for short selling Was yesterday was friday Right Sivb was $700 not too long ago. Take a look at the chart Um This is a very difficult stock to it's gonna be so like it's gonna be so liquid man It's gonna jump up down like crazy. It's gonna be very difficult to trade Um, I like to watch for fun, but those want to gamble Okay, you have to put stop losses and you have to in my opinion the way you make money Look at frc. Look up. Look up the chart frc guys FRC look at friday They thought frc first republic bank to go bankrupt just like uh as that may be Yeah, take a look what happens Look at hundred percent squeeze, right? Yeah Uh, look guys at home that are watching this fb. I don't know. You put the chart How did I place the chart guys? How did I paste the chart? I don't know how you can do that. We need our uh technician trail on one How do I comment? How do I comment? Uh, you should have a comment section to the right. So I do. How do I type it in myself? Thank 10 days goes to 90 that i'm not sure and I okay, but anyways guys, what was the low? Let's take a look at the low the low and the high frc I didn't touch this shit, but I'm gonna think I'm like because I mean this is not mine My niche. So you know the low was uh Um It opened at 70 bucks The low was 45 bucks and it closed at Where close that guys 75 bucks or something 77 we're close 45 It closed at 78 bucks 78 bucks Okay, it's a close at 78 bucks. Yeah, I'm gonna show you right now. We're posting this in my cchat 20 msc guys So it went from Seven actually the day before it's 95 bucks guys. It went from 95 dollars 95 bucks. There we go To 45 bucks and it bounced it was like 100 bounce Because if you see that's where the money is at the money is made where there's fear and panic So sick right guys, so that's the sort of bounce play that You would want from sivb Silicon Valley You're looking because it's not going to go to zero regular stepped in and then it takes time And so, you know how bankruptcy so everybody When it goes on bankruptcy It's the best time if you if you really track it to make money because there's so much speculation Up and down and so the moment it starts to turn Because there's a lot of people that want to get out of the stock guys And so they wouldn't make a scenario. It's just like AMC Um, the apes want to you know, the insiders want to get out whatever the fuck They're gonna bounce this stuff so that they're so that the insiders get out the moment everybody the big guys get out It's gonna take down So there's gonna be a period of big 100 bounces just like frc. You saw that how the hell is a company a frc bounce 100% because it was $120 two days ago with the 45 bucks on fears just fears Let's look at jpm Let's see what Kramer did to jpm APM tanks it went all the way back JP has a real company. So is and and and it's just purely speculative. There's no reason But the whole sector goes down. So it's a sympathy play. So where you make money is this you Shorting is an obvious thing, but you don't want to short low you wait for it to do the 100 bounce Right like f rc. So if it bounces back up to 9500 120 those are the FRC say but when it's something like 45 bucks unless it's It's truly happened not speculative You just got killed shorting it. So don't short low if you miss it you miss it And and just wait for the long wait for capitulation to happen wait for it to start bouncing up and you just go there You put a stop loss Um, these things are notoriously difficult to trade if you're if you are on the wrong side of the stock And you do not have a trading plan which includes risk management and stop losses You're going to get wiped out because all you do is you're reacting um Play the news The way I play fma. I made a lot of money through fma fma Because people thought they're gonna bankrupt and then they're sending hearings to bail them out or not to bail them out Did you know what i'm saying the government was going to take over There's all these speculative shit and that's how i made my money i made my money by writing it up and down I made my money Two-fold i went long When they had senate meeting that says they made bail them out whatever and so it started going up But you know it's all bullshit. And so the moment he reaches the top I shortened it So the way you you trade this is like you have to be smart guys. Don't don't go for the hype No, the the the the thing that I did well is I knew that these companies don't go bank up to zero right away But when you're new trading, he's like, oh, shit. It should go to zero. Why is it not zero? Six months later still not zero. Look it won't go to zero guys It won't go to zero It's gonna be a long time because you have bankruptcy proceedings at the liquidate And so during that time there's a lot of good opportunities to trade because there'll be speculation speculation is how you make money day trade There'll be speculation on you make money on speculation, right? So It's speculation that uh Silicon Valley bank is going to go bankrupt. It's gonna fail. That's why tech, right? That's money right there. So so if people are speculating is go bankrupt you short But you you're too late now The news is out. So in my opinion, it's gonna tank really badly on Monday if it opens And then what's gonna happen is this is gonna bounce. I guarantee you it's gonna bounce sometime big time bounce Because everyone's scared, right? The one where you get all the week longs out Right, that's no more selling, right? The bounce is called dead cat bounce And so do you If you're in this stock Good luck I would dump it But don't dump all take a look at the support. That's it I mean this is when it opens it's gonna gap down guys and that's the thing man. It's really difficult when it you just have to I really don't know what the hell's gonna happen because if i'm in this stock i I would dump half I would dump half because the fear go lower It might be purchased anyways. I mean, there's no way of actually knowing what's gonna happen And then what i'm gonna do i'm gonna trade myself out of it or just fucking walk away Say I fucking fucked up and then uh, but it's gonna have a big bounce sometime Okay, it's good because what's happening is like everyone's gonna start selling You know, this is gonna start selling and then when everybody panics. It's gonna they're gonna panic everybody out first It's uh, they can't it's not day guys. It's the people that have it they They When you get a margin call a lot of these people are on buying some margin, right? You know, the the uh, the broker is going to automatically sell them out. Yeah, no choice If you go under 20 of your So depending on so if you are if you're just normal day trader and you buy at 34 bucks I see some people on twitter buy 34 bucks and you wake up as that fucking five bucks. You're done Um, if you buy on march, you're done. They go day day So it's going to gap down artificially lower. It's because the brokerages are liquidating everybody at market And so you already get the met That's why you're gonna get that dead cap bounce because depending on how much it goes down and then my pain Is this five bucks? Everyone is getting liquidated. That is our margin Okay, if you're a fucking full margin on this shit, you're fucking you're done You have no control. You're gonna wake up your your your account is locked and and uh, your Your broker has your account set to sell at market and open sell open whatever the fuck it is, right? So that's why you get this this gap down and so you're gonna get people And so once they get everybody out the market makers who's buying this stuff, right? The shorts are buying this but more importantly the market makers. They they see all the orders from the brokerages they see Um, um, they see all the positions that's flagged at selling market Selling open and so they have these are all goes guys not human being This is like a super computer figure out all this shit. They have all the data. They know exactly where to fucking open up to take all of the sell at market Okay, and so they're gonna take all that shit and it's gonna bounce because I see that because I A lot of the newcomers they go it's gonna go zero, right? So wherever it fucking opens it's going to go a little lower obviously And then in my pain is gonna bounce it's gonna have a big bounce And then you don't sell the house or fuck Chase that and then comes a fade Yeah, slowly fade and then it's going to the solid day for the rest of the day Appending new news So what it's trying to do is it's trying to resolve all of the upside down longs that are on margin So the broker is going to sell everybody out And then it's going to panning out all the normal people and then the funds whoever funds They're making a deal right now guys. I'm pretty sure These funds if you have fucking 10 million shares of this, how the fucking get rid of it, right? How do you get rid of it? So you you're gonna make back-end deals with people This is the whole thing that you saw the uh Lieben brothers kind of shit, right? I want to sell all these credit shit. I'll give you 50 cents on the dollar You're shopping around you know shit like that, right? And so they're making their back-end deals already so It's difficult from a retail point of view because we'd have so little exposure to this that we don't know Where the fuck's gonna happen because they will open it where the fuck that they find a buyer Okay, someone's gonna step up They're gonna be a price that someone step up and the person that steps up is the person that understands Uh, they're they're balance sheet That has gone through they have two days over the weekend With a hundred associates junior bankers No sleep figure out exactly what how much money Silicon Valley has exposed how much money do they have a case of liquidation bankruptcy These are numbers that they can find out right if taking enough time they'll find out exactly how much cash they have how much Assets they have stocks they can make sense. And so they know the value of the the bank already So it's just damp trying to get people out the algos to try to figure out so they get you know um And so that's a that's the sort of nature that you're fighting against dude This is why I trade small cash because small cash everything is a scam There are not fucking big banks working with a billion dollar research firms to figure out what the value of gns is it's zero Right, so so now you understand how this works man Is they're trying they're trying to find a buyer for the stock just like they're trying to buy them find a buyer for the bank So there's at some point black rock is gonna step up. I'm gonna fucking buy a billion dollars that shit Or sit it down, right So they just try to figure out what the price that the the bank is worth because they're gonna figure out from the regulars And we can then do it's all inside a job guys. It's all inside of shit, right? So That's how do you make money once again guys once again do not chase the hype If this thing is taking If you want to join it do it but set the stop loss Because it will reverse quicker than you can mentally stop out And when it happens it may halt We'll talk about an m i c in main chat. We'll be talking about in a day. Yeah, we'll talk all about this We wake up and you do this so Yep, we're coming up an hour and 45 on this which means it is time for us to start wrapping it up here Any last questions guys, that's it. Yeah Value have been incredibly informative, man. This has been yeah, this is really good to listen to Very rarely just sit here and listen and that was that was awesome So 2008 to 2022 is a 14 15 years. Well, I'll see you in 15 years for the next one I love dopey right guys, you'll be the ai bank artificial intelligence Any questions guys, we'll see you online on twitter m i c wherever it may be Guys. No success trader guys. It's completely insured. We'll send out a letter. So don't have to worry about success trader Alright guys, we're gonna post this up. Um, maybe uh tomorrow's only I don't know Yeah, we'll post it. Uh, we'll let the recording come through and then we'll post it Uh, so yeah, thank you everyone for joining Um, you know, this has been super informative. Thank you bow. Thanks everyone. Um, definitely a great awesome live So, yeah, I mean, we'll we'll leave it at that and uh, thanks everyone and uh, Yeah, see ya