2min chapter

"Moment of Zen"  cover image

E14: Balaji Srinivasan on his $1M bet, Financial Crisis 2.0, Digital Devaluation of USD, and What Comes Next

"Moment of Zen"

CHAPTER

Credit Suisse and Credit Suisse - What Happened to SVB?

None of the banks had enough liquid assets on hand, okay? If enough depositors came and asked for their money, the money was gone. They knew this through all last year. This is not your typical fractional reserve situation. It's far worse than that. That's why SVB collapsed. 12 days ago, 14 days ago, we had zero dead banks. Suddenly, we have Silvergate, we have SVB, we have Signature, we have Credit Suisse, we have First Republic, okay? WSH finally acknowledged dozens of banks may have risk similar Silicon Valley bank, 186 banks that may be prone to similar risks. Dude, but no, I mean, they,

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