The Banks Are Going Down the Tubes YO Discussion

[calgarygeologist]

Originally Posted by topfiverecords

We stayed at a hotel on a marina in Malta a few years ago. Holy hell there was a lot of money there floating in the water.

I've seen a lot of awesome yachts in Nice/Cannes/Monaco along with the harbours in Florida but I think the coolest yacht(s) I've seen are the Lonian and Hodor. Lonian is the actual yacht and Hodor is a floating garage/toy storage for the owner. It is so ridiculous. We as them in Miami in February and I had to Google to find out what I was actually looking at because it was so unbelievable.



https://www.autoevolution.com/news/f...er-193671.html

[Yoho]

https://twitter.com/user/status/1636352571379007488

Interesting timing on announcement with roll out beginning in April.

[Fuzz]

I was recently sailing in the BVI's. Some absolutely astounding boats down there. That, and the 2 islands owned by Richard Branson.

Spoiler!

This is the gorgeous boat, the Artefact, owned by a founder of Blackberry Mike Lazardis.










And here is the back of Mike's head. Looked like a lonely breakfast.

https://www.superyachtfan.com/yacht/artefact/


This is the Skat(it means Treasure in Danish), commissioned by a former Microsoft Software Engineer.

https://en.wikipedia.org/wiki/Skat_(yacht)







This is the Nahlin, now owned by the guy famous for sucking and blowing, James Dyson. The boat has an interesting history:

https://en.wikipedia.org/wiki/Nahlin_(yacht)

[PeteMoss]

Originally Posted by Nancy

https://www.cdic.ca/your-coverage/pr...-your-deposit/

Most of things in the not covered section - you actually own something so unless the company you are doing it through are complete scammers - you still own the stock even if the company you invest with goes down.

[powderjunkie]

Originally Posted by Fuzz

I was recently sailing in the BVI's. Some absolutely astounding boats down there. That, and the 2 islands owned by Richard Branson.

Spoiler!

This is the gorgeous boat, the Artefact, owned by a founder of Blackberry Mike Lazardis.










And here is the back of Mike's head. Looked like a lonely breakfast.

https://www.superyachtfan.com/yacht/artefact/


This is the Skat(it means Treasure in Danish), commissioned by a former Microsoft Software Engineer.

https://en.wikipedia.org/wiki/Skat_(yacht)







This is the Nahlin, now owned by the guy famous for sucking and blowing, James Dyson. The boat has an interesting history:

https://en.wikipedia.org/wiki/Nahlin_(yacht)

If I were a multi-billionaire, I feel like I'd rather own an awesome blimp.

[Cappy]

Originally Posted by calgarygeologist

I've seen a lot of awesome yachts in Nice/Cannes/Monaco along with the harbours in Florida but I think the coolest yacht(s) I've seen are the Lonian and Hodor. Lonian is the actual yacht and Hodor is a floating garage/toy storage for the owner. It is so ridiculous. We as them in Miami in February and I had to Google to find out what I was actually looking at because it was so unbelievable.



https://www.autoevolution.com/news/f...er-193671.html

Saw this in San Diego last June. Dude gets around.

Guy owns the Houston Rockets, i believe; and a bunch Casino's. Father was big in the Mafia back in Vegas

[JohnnyB]

Originally Posted by powderjunkie

If I were a multi-billionaire, I feel like I'd rather own an awesome blimp.

He probably keeps one in the barge he's towing with all his other toys. I assume he also has an assortment of ray guns and oompa loompas in there.

[getbak]

Originally Posted by Cappy

Saw this in San Diego last June. Dude gets around.

Guy owns the Houston Rockets, i believe; and a bunch Casino's. Father was big in the Mafia back in Vegas

It's owned by Lorenzo Fertitta. The Rockets are owned by his distant cousin Tilman Fertitta.

[Yikes]

Originally Posted by getbak

It's owned by Lorenzo Fertitta. The Rockets are owned by his distant cousin Tilman Fertitta.

Always nice to see those connected to organized crime doing so poorly.

[Yoho]

https://twitter.com/user/status/1636761791576285191

[Slava]

Well two of those haven’t actually failed. Those guys are showing their lack of understanding through this.

Credit Suisse is likely being bought by UBS and those negotiations are ongoing. First Republic is a different matter, but they’re talking about selling private equity. In either case though, if those things happen, it’s not a bank failure.

[Yoho]

Originally Posted by Slava

Well two of those haven’t actually failed. Those guys are showing their lack of understanding through this.

Credit Suisse is likely being bought by UBS and those negotiations are ongoing. First Republic is a different matter, but they’re talking about selling private equity. In either case though, if those things happen, it’s not a bank failure.

Fair point, would they not fail without backstop by gov. though?

[Slava]

Originally Posted by Yoho

Fair point, would they not fail without backstop by gov. though?

Hard to say, but basically any bank that gets run will fail.

[afc wimbledon]

Originally Posted by Yoho

Fair point, would they not fail without backstop by gov. though?

that's true of any bank. they all survive due to the Government insuring deposits

[Bill Bumface]

Yeah the "leave it to the free market" argument on this is hilarious. Banking would be an unmitigated disaster if left to the free markets. We'd all have a bunch of gold in our basements or something, then people would go door to door robbing people for it. Then homeowners would have to arm the #### out of themselves, and houses become mini fortresses.

Oh wait, I'm just reciting a libertarian wet dream, aren't I?

[bizaro86]

Originally Posted by afc wimbledon

that's true of any bank. they all survive due to the Government insuring deposits

The US does have private deposit insurance, that banks can buy for their uninsured deposits. Its more common with smaller banks who are trying to convince depositors to leave more money on deposit.

[afc wimbledon]

Originally Posted by bizaro86

The US does have private deposit insurance, that banks can buy for their uninsured deposits. Its more common with smaller banks who are trying to convince depositors to leave more money on deposit.

All of it rests on the knowledge that the fed is going to backstop everything though, even the private deposit insurance ultimately, which is the difference between the US and say Russia or the 3rd world where you try to move your money out of the country to somewhere 'safe'

[GGG]

The fed exists precisely because of bank runs in 1907/08. This is the fed doing exactly what it was designed to do.

[Slava]

Originally Posted by Bill Bumface

Yeah the "leave it to the free market" argument on this is hilarious. Banking would be an unmitigated disaster if left to the free markets. We'd all have a bunch of gold in our basements or something, then people would go door to door robbing people for it. Then homeowners would have to arm the #### out of themselves, and houses become mini fortresses.

Oh wait, I'm just reciting a libertarian wet dream, aren't I?

Well the VCs were all super libertarian when it was a discussion about student loan forgiveness or help for people during the pandemic. But when they were the ones on the receiving end they were all begging to have potential losses backstopped. Suddenly, they’re all socialists!

[Yoho]

Originally Posted by afc wimbledon

that's true of any bank. they all survive due to the Government insuring deposits

How about bank bail-in as opposed to bail out like Greece had?

Could the continued stress on banks lead to this?

https://www.cdic.ca/what-happens-in-...bail-in-works/