uTalk

Official forum for Utopia Community

You are not logged in.

#1 2023-03-19 13:23:16

oba
Member
Registered: 2023-01-13
Posts: 1,858

One of the most absurd aspects of the Silicon Valley bank failure

I learn today that the CEO of the Silicon Valley bank which is the failed bank is also the CEO director of the body in charge of regulating the bank. Could you see that the bank failed long ago before now?

Offline

#2 2023-03-19 14:55:28

thrive
Member
Registered: 2023-01-04
Posts: 2,178

Re: One of the most absurd aspects of the Silicon Valley bank failure

In this 21 century, if anyone still trusts institutional banking that person is doomed. You'll be surprised that the San Francisco Feds was planning to introduce a bill that said to end this conflict of interest by banning big bank CEOs from serving on Fed boards but they will sweep everything away just watch.

Offline

#3 2023-03-19 15:06:48

oba
Member
Registered: 2023-01-13
Posts: 1,858

Re: One of the most absurd aspects of the Silicon Valley bank failure

thrive;6078 wrote:

In this 21 century, if anyone still trusts institutional banking that person is doomed. You'll be surprised that the San Francisco Feds was planning to introduce a bill that said to end this conflict of interest by banning big bank CEOs from serving on Fed boards but they will sweep everything away just watch.

You're about not trusting the banking institution and this is the reason why it's better to go all in for cryptocurrency but not all cryptocurrency because some crypto is centralized and they are still using the exact concept of the banking institution but in a different way.

Offline

#4 2023-03-19 15:10:15

thrive
Member
Registered: 2023-01-04
Posts: 2,178

Re: One of the most absurd aspects of the Silicon Valley bank failure

oba;6079 wrote:
thrive;6078 wrote:

In this 21 century, if anyone still trusts institutional banking that person is doomed. You'll be surprised that the San Francisco Feds was planning to introduce a bill that said to end this conflict of interest by banning big bank CEOs from serving on Fed boards but they will sweep everything away just watch.

You're about not trusting the banking institution and this is the reason why it's better to go all in for cryptocurrency but not all cryptocurrency because some crypto is centralized and they are still using the exact concept of the banking institution but in a different way.

Yes, that's another cryptocurrency flaw that investors need to put into consideration to avoid the strategy used by Samuel Benjamin Bankman-Fried the former CEO of FTX.

Offline

#5 2023-03-19 15:13:32

oba
Member
Registered: 2023-01-13
Posts: 1,858

Re: One of the most absurd aspects of the Silicon Valley bank failure

thrive;6080 wrote:
oba;6079 wrote:
thrive;6078 wrote:

In this 21 century, if anyone still trusts institutional banking that person is doomed. You'll be surprised that the San Francisco Feds was planning to introduce a bill that said to end this conflict of interest by banning big bank CEOs from serving on Fed boards but they will sweep everything away just watch.

You're about not trusting the banking institution and this is the reason why it's better to go all in for cryptocurrency but not all cryptocurrency because some crypto is centralized and they are still using the exact concept of the banking institution but in a different way.

Yes, that's another cryptocurrency flaw that investors need to put into consideration to avoid the strategy used by Samuel Benjamin Bankman-Fried the former CEO of FTX.

That's exactly what I am trying to point out, centralized projects also pave way for the team involve to play some fool play with investor's funds. So people need to stay away from banking institutional and centralized crypto projects because they are birds of the same feather.

Offline

#6 2023-03-19 15:18:27

IyaJJJ
Member
Registered: 2023-01-25
Posts: 1,714

Re: One of the most absurd aspects of the Silicon Valley bank failure

Speaking of Samuel Bankman-Fried, it seems like you guys don't know he was in the news today and the news says he shilled the FTX risk model to FDIC chairman Gruenberg prior to the collapse

Offline

#7 2023-03-19 15:30:10

oba
Member
Registered: 2023-01-13
Posts: 1,858

Re: One of the most absurd aspects of the Silicon Valley bank failure

IyaJJJ;6082 wrote:

Speaking of Samuel Bankman-Fried, it seems like you guys don't know he was in the news today and the news says he shilled the FTX risk model to FDIC chairman Gruenberg prior to the collapse

Footing what you just said now you'll see that a centralized system pave way for the CEO and their team to make enormous money through their user fund. They know the collapse will happen but they just like to abuse their power and increase their success through any means possible even if it hurt the investors.

Offline

#8 2023-03-19 15:34:23

IyaJJJ
Member
Registered: 2023-01-25
Posts: 1,714

Re: One of the most absurd aspects of the Silicon Valley bank failure

oba;6083 wrote:
IyaJJJ;6082 wrote:

Speaking of Samuel Bankman-Fried, it seems like you guys don't know he was in the news today and the news says he shilled the FTX risk model to FDIC chairman Gruenberg prior to the collapse

Footing what you just said now you'll see that a centralized system pave way for the CEO and their team to make enormous money through their user fund. They know the collapse will happen but they just like to abuse their power and increase their success through any means possible even if it hurt the investors.

There's no doubt about that because a recent court documents posted revealed that Samuel Bankman-Fried and other former FTX team and Alameda analysis executives obtained $3.2 billion in payments and loans from FTX-related entities.

Offline

#9 2023-03-19 15:36:16

thrive
Member
Registered: 2023-01-04
Posts: 2,178

Re: One of the most absurd aspects of the Silicon Valley bank failure

IyaJJJ;6084 wrote:
oba;6083 wrote:
IyaJJJ;6082 wrote:

Speaking of Samuel Bankman-Fried, it seems like you guys don't know he was in the news today and the news says he shilled the FTX risk model to FDIC chairman Gruenberg prior to the collapse

Footing what you just said now you'll see that a centralized system pave way for the CEO and their team to make enormous money through their user fund. They know the collapse will happen but they just like to abuse their power and increase their success through any means possible even if it hurt the investors.

There's no doubt about that because a recent court documents posted revealed that Samuel Bankman-Fried and other former FTX team and Alameda analysis executives obtained $3.2 billion in payments and loans from FTX-related entities.

I wish some cryptocurrency investors who are always after profit making and project launch/introduced by influencer could read all this important information so they would know that decentralized and organic project are the best in crypto market.

Offline

#10 2023-03-19 15:39:17

oba
Member
Registered: 2023-01-13
Posts: 1,858

Re: One of the most absurd aspects of the Silicon Valley bank failure

thrive;6085 wrote:
IyaJJJ;6084 wrote:
oba;6083 wrote:

Footing what you just said now you'll see that a centralized system pave way for the CEO and their team to make enormous money through their user fund. They know the collapse will happen but they just like to abuse their power and increase their success through any means possible even if it hurt the investors.

There's no doubt about that because a recent court documents posted revealed that Samuel Bankman-Fried and other former FTX team and Alameda analysis executives obtained $3.2 billion in payments and loans from FTX-related entities.

I wish some cryptocurrency investors who are always after profit making and project launch/introduced by influencer could read all this important information so they would know that decentralized and organic project are the best in crypto market.

The decentralization, privacy, innovation, and self-funded aspect of the UtopiaP2P ecosystem is the reason why I like this project even if the concept is good while the aspect that secures my interest is not good I won't have had enthusiasm for this project.

Offline

#11 2023-03-19 15:42:05

IyaJJJ
Member
Registered: 2023-01-25
Posts: 1,714

Re: One of the most absurd aspects of the Silicon Valley bank failure

oba;6086 wrote:
thrive;6085 wrote:
IyaJJJ;6084 wrote:

There's no doubt about that because a recent court documents posted revealed that Samuel Bankman-Fried and other former FTX team and Alameda analysis executives obtained $3.2 billion in payments and loans from FTX-related entities.

I wish some cryptocurrency investors who are always after profit making and project launch/introduced by influencer could read all this important information so they would know that decentralized and organic project are the best in crypto market.

The decentralization, privacy, innovation, and self-funded aspect of the UtopiaP2P ecosystem is the reason why I like this project even if the concept is good while the aspect that secures my interest is not good I won't have had enthusiasm for this project.

Just hope all the cryptocurrency investors that was affected by the Silicon Valley bank failure and FTX collapse get back their fund back or else it will mentally and physically affect a lot of them.

Offline

#12 2023-03-19 15:46:15

oba
Member
Registered: 2023-01-13
Posts: 1,858

Re: One of the most absurd aspects of the Silicon Valley bank failure

IyaJJJ;6087 wrote:
oba;6086 wrote:
thrive;6085 wrote:

I wish some cryptocurrency investors who are always after profit making and project launch/introduced by influencer could read all this important information so they would know that decentralized and organic project are the best in crypto market.

The decentralization, privacy, innovation, and self-funded aspect of the UtopiaP2P ecosystem is the reason why I like this project even if the concept is good while the aspect that secures my interest is not good I won't have had enthusiasm for this project.

Just hope all the cryptocurrency investors that was affected by the Silicon Valley bank failure and FTX collapse get back their fund back or else it will mentally and physically affect a lot of them.

I don't know about others but every US citizen that's paying his/her tax that's among those that were affected by the FTX collapse and Silicon Valley bank failure will get back their fund. Although it may take some time but they will get back their money.

Offline

#13 2023-03-19 18:14:31

Detroit
Member
Registered: 2022-12-27
Posts: 1,637

Re: One of the most absurd aspects of the Silicon Valley bank failure

oba;6088 wrote:
IyaJJJ;6087 wrote:
oba;6086 wrote:

The decentralization, privacy, innovation, and self-funded aspect of the UtopiaP2P ecosystem is the reason why I like this project even if the concept is good while the aspect that secures my interest is not good I won't have had enthusiasm for this project.

Just hope all the cryptocurrency investors that was affected by the Silicon Valley bank failure and FTX collapse get back their fund back or else it will mentally and physically affect a lot of them.

I don't know about others but every US citizen that's paying his/her tax that's among those that were affected by the FTX collapse and Silicon Valley bank failure will get back their fund. Although it may take some time but they will get back their money.

So, you are saying nontaxpayers can get their money back? That is so unfair if you should ask me. First of all, taxes should not be mandatory, especially for private workers. What of students that we're operating on that bank that do not pay tax because the are not old enough to work?

Offline

#14 2023-03-19 20:20:50

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,182

Re: One of the most absurd aspects of the Silicon Valley bank failure

I have heard this silicone valley issue way to long to just ignore it but truth be told I have little knowledge About what the drama is all about can anyone enlighten me about it.

Offline

#15 2023-03-19 21:09:20

Detroit
Member
Registered: 2022-12-27
Posts: 1,637

Re: One of the most absurd aspects of the Silicon Valley bank failure

KAMSI_UG;6107 wrote:

I have heard this silicone valley issue way to long to just ignore it but truth be told I have little knowledge About what the drama is all about can anyone enlighten me about it.

There is nothing serious about the whole thing about the silicon valley bank situation. It is just about the bank collapsing and the bank saying they can only pay taxpayers which I consider unfair.

Offline

#16 2023-03-19 22:20:15

thrive
Member
Registered: 2023-01-04
Posts: 2,178

Re: One of the most absurd aspects of the Silicon Valley bank failure

Detroit;6125 wrote:
KAMSI_UG;6107 wrote:

I have heard this silicone valley issue way to long to just ignore it but truth be told I have little knowledge About what the drama is all about can anyone enlighten me about it.

There is nothing serious about the whole thing about the silicon valley bank situation. It is just about the bank collapsing and the bank saying they can only pay taxpayers which I consider unfair.

No, the bank was saved from collapsing by the US government and according to what the original poster of this topic says, I think they want to attend to the customer that are taxpayers and lucky customers that are not the taxpayer.

Offline

#17 2023-03-19 22:39:25

IyaJJJ
Member
Registered: 2023-01-25
Posts: 1,714

Re: One of the most absurd aspects of the Silicon Valley bank failure

KAMSI_UG;6107 wrote:

I have heard this silicone valley issue way to long to just ignore it but truth be told I have little knowledge About what the drama is all about can anyone enlighten me about it.

Is there a mistake in your message because if you know about the Silicone Valley Bank issue then there's no need to enlighten you about the things that happened to the bank.

Offline

#18 2023-03-20 08:17:22

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: One of the most absurd aspects of the Silicon Valley bank failure

The banking system is a big joke these days, people need to understand that any money they have in the bank isn’t theirs anymore, all you are seeing there is just numbers, your money has been used for various investments, that is why they operate on a fractional reserve system. These banks take huge risks with their customers money, and if they make profit it is for them only as you are only given a small interest annually on your savings, but if the risks don’t pay off, it is the customers that lose the most as their money is gone.

Last edited by Camavinga (2023-03-20 08:18:39)

Offline

#19 2023-03-20 18:24:58

Detroit
Member
Registered: 2022-12-27
Posts: 1,637

Re: One of the most absurd aspects of the Silicon Valley bank failure

Camavinga;6204 wrote:

The banking system is a big joke these days, people need to understand that any money they have in the bank isn’t theirs anymore, all you are seeing there is just numbers, your money has been used for various investments, that is why they operate on a fractional reserve system. These banks take huge risks with their customers money, and if they make profit it is for them only as you are only given a small interest annually on your savings, but if the risks don’t pay off, it is the customers that lose the most as their money is gone.

Well, the banking system has been taking the people's trust right from the time of the old. From the people's money which they use to invest or buy stocks interest from it are used to pay their workers and also buy more stocks.

Offline

#20 2023-03-20 18:39:13

Lanistergame2
Member
Registered: 2022-12-25
Posts: 1,843

Re: One of the most absurd aspects of the Silicon Valley bank failure

This is the reason I find it ironic when people say they want banks to regulate cryptocurrency. Take a look at the fiat financial system and how broken it is under their watch and at their behest sometimes. Crypto is the breath of fresh air we are all enjoying and it would surely be broken as well if the government are allowed to centralize it.

SVB was set up to fail, same with other banks. Their policies are not just progressive.

Offline

#21 2023-03-21 06:34:51

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: One of the most absurd aspects of the Silicon Valley bank failure

Detroit;6240 wrote:

Well, the banking system has been taking the people's trust right from the time of the old. From the people's money which they use to invest or buy stocks interest from it are used to pay their workers and also buy more stocks.

I don’t blame people for having trust in the banking system, it has helped people to keep their money “safe” for so long, but they should know the truth about they operate, and that is a fractional reserve system, your money is not they in your account waiting for you to take it, it is being invested and indirectly you bear the risk.

Offline

#22 2023-03-21 09:13:43

oba
Member
Registered: 2023-01-13
Posts: 1,858

Re: One of the most absurd aspects of the Silicon Valley bank failure

Detroit;6091 wrote:
oba;6088 wrote:
IyaJJJ;6087 wrote:

Just hope all the cryptocurrency investors that was affected by the Silicon Valley bank failure and FTX collapse get back their fund back or else it will mentally and physically affect a lot of them.

I don't know about others but every US citizen that's paying his/her tax that's among those that were affected by the FTX collapse and Silicon Valley bank failure will get back their fund. Although it may take some time but they will get back their money.

So, you are saying nontaxpayers can get their money back? That is so unfair if you should ask me. First of all, taxes should not be mandatory, especially for private workers. What of students that we're operating on that bank that do not pay tax because the are not old enough to work?

What i am saying is that the US President guarantee the taxpayer they will get back the fund they have with Silicon Valley bank and never make a statement about the non-taxpayer.
In the US tax is mandatory or the IRS will have you arrested especially if you have a house. I believe the student will get their fund either.

Offline

#23 2023-03-21 18:02:49

Detroit
Member
Registered: 2022-12-27
Posts: 1,637

Re: One of the most absurd aspects of the Silicon Valley bank failure

Camavinga;6325 wrote:
Detroit;6240 wrote:

Well, the banking system has been taking the people's trust right from the time of the old. From the people's money which they use to invest or buy stocks interest from it are used to pay their workers and also buy more stocks.

I don’t blame people for having trust in the banking system, it has helped people to keep their money “safe” for so long, but they should know the truth about they operate, and that is a fractional reserve system, your money is not they in your account waiting for you to take it, it is being invested and indirectly you bear the risk.

There is no doubt that the financial system of the world (the bank) is broken and should not be trusted. They have kept us the people in the dark for so long now. Thank goodness for cryptocurrency for opening our eyes to see exactly what is going on.

Offline

#24 2023-03-21 18:06:30

Detroit
Member
Registered: 2022-12-27
Posts: 1,637

Re: One of the most absurd aspects of the Silicon Valley bank failure

oba;6330 wrote:
Detroit;6091 wrote:
oba;6088 wrote:

I don't know about others but every US citizen that's paying his/her tax that's among those that were affected by the FTX collapse and Silicon Valley bank failure will get back their fund. Although it may take some time but they will get back their money.

So, you are saying nontaxpayers can get their money back? That is so unfair if you should ask me. First of all, taxes should not be mandatory, especially for private workers. What of students that we're operating on that bank that do not pay tax because the are not old enough to work?

What i am saying is that the US President guarantee the taxpayer they will get back the fund they have with Silicon Valley bank and never make a statement about the non-taxpayer.
In the US tax is mandatory or the IRS will have you arrested especially if you have a house. I believe the student will get their fund either.

That is good to hear. Also, that does not dispute the fact that the government finds any opportunity to steal from the people its citizens by seizing their properties and money. The governments are always lying to us.

Offline

#25 2023-03-21 18:30:10

Lanistergame2
Member
Registered: 2022-12-25
Posts: 1,843

Re: One of the most absurd aspects of the Silicon Valley bank failure

oba;6330 wrote:

What i am saying is that the US President guarantee the taxpayer they will get back the fund they have with Silicon Valley bank and never make a statement about the non-taxpayer.
In the US tax is mandatory or the IRS will have you arrested especially if you have a house. I believe the student will get their fund either.

Tax fund are probably going into the money being used to repay those that were involved in the loss, so it is only fitting that only tax payers are involved in the repayment.

And about tax being mandatory, it is not really necessary for a society to function and it can be structured better than it is now.

Offline

Board footer

Powered by FluxBB