| General > General Technical Chat |
| Silicon Valley Bank Collapses |
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| james_s:
I don't know, I've never worshiped any god and kind of wish it was not a thing but it seems to be hardwired into the human brain. The fact that the Aztecs used gold for religious purposes doesn't suggest it lacked value, on the contrary it suggests it was of extreme value, too valuable for common use by regular people. Many cultures put their greatest resources into religious matters, take the Egyptian pyramids, Mayan temples and the cathedrals in Europe for example. |
| Marco:
Regardless of your opinion on the possibility of hyperinflation due to current debt levels, what backs money is entirely irrelevant for this kind of bank run. A 5% interest rate rise is nothing to a gold backed currency, happened all the time. What backs the bank deposits is relevant ... fractional reserves weren't a fiat based central bank invention. Gold bankers in my country invented fractional reserves and people have been running on banks ever since ... then with the memory of gold fish they chase that couple percent interest rate on deposits the next day. |
| floobydust:
SVB ex-CEO was spotted in Hawaii, Greg Becker and his wife have escaped to their Maui townhouse worth $3.1 million source Must be nice to cash in $3.6M of stock ($84M over the past 2 years) and sit on a beach. |
| EEVblog:
--- Quote from: floobydust on March 18, 2023, 08:14:18 pm ---SVB ex-CEO was spotted in Hawaii, Greg Becker and his wife have escaped to their Maui townhouse worth $3.1 million source Must be nice to cash in $3.6M of stock ($84M over the past 2 years) and sit on a beach. --- End quote --- That's the CEO game. |
| james_s:
--- Quote from: EEVblog on March 18, 2023, 09:31:52 pm --- --- Quote from: floobydust on March 18, 2023, 08:14:18 pm ---SVB ex-CEO was spotted in Hawaii, Greg Becker and his wife have escaped to their Maui townhouse worth $3.1 million source Must be nice to cash in $3.6M of stock ($84M over the past 2 years) and sit on a beach. --- End quote --- That's the CEO game. --- End quote --- Yeah I'm not even surprised even a little. The same happens with politicians, seems like every time a natural disaster occurs here the governor of the state where it happens has jetted of to their vacation home. On one hand it pisses me off, on the other hand, can I really claim I wouldn't do the same given the means? I accept as a fact that when push comes to shove, the vast majority of people are going to look out for themselves first. |
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