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Here's What Comes After They Bore Us 3/1/23


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A GREY RHINO IN PLAIN SIGHT

The bank bond losses are a classic grey rhino......

In plain sight but ignored by markets.....

Until they cannot be ignored......

When Silvergate was forced to sell their bonds when their crypto depositors made a dash for the door...

(Note the whale traders who deposited thier funds with Silvergate actually had a brain....they kept there money in Silvergate......all insured by the FDIC rather than leaving it in FTX.....which was insured only by trust in SBF...a very bad strategy indeed) 

They had to recognise a cool billion loss....

And they are just a small bank.

Think of the losses in the larger ones....

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