The Cost of Banking in the Age of Black Swans

The SBB failure came after Silvergate./nSaid it plans to shut down./nBloomberg said what these two have in common is an unusually fickle depositor base. They certainly are fickle./nOne of my favorite tweets was no atheist in a foxhole, no libertarians in a bank run. They were all calling for where's the government and things like that./nThese depositors, are they fickle? They move fast. They certainly move fast and they're all finger pointing at each other as who move too fast and knock the jenga block out./nAt certain./nPeople. I don't know what do you do for Circle, which has 3 billion of its cash in one place? I don't know./nWhat is./nThat? You can't have 10 banks though./nYou can't put your money into that./nWell, but if you did, you wouldn't be having this problem. So what's the cost of, what is it cost to have a bank account? Not really much if you have a certain amount in there. I mean, there's a little more paperwork involved. I say gold in the mattress. That's how I work. No, I don't. But just to push on the bill, I'm not saying I don't./nAgree with you, but that general doesn't that lead to there's basically three banks over time? And maybe that's.