​​Silicon Valley Bank Failure - Protect Your Deposits

Wealth Without Bay Street 158: Silicon Valley Bank Failure - Protect Your Deposits with Richard & Jayson. BREAKING NEWS! Silicon Valley Bank is the 16th largest bank in the United States and was the largest bank by deposits in Silicon Valley. But last week, the most devastating news for bank depositors happened — the Silicon Valley Bank Collapsed!

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IN THIS EPISODE, YOU WILL LEARN:
0:00 Intro
0:39 Putting your money in conventional banks
3:13 Why banks are failing
9:07 Life insurance companies as the most solid financial institution
14:21 The accountability measures and the resolution that the companies and the government should do with the Silicon Valley Bank failure
15:21 Taking risk or capitalizing on an opportunity?
18:37 The difference between investing and speculating

QUOTES
- Every dollar that you put on deposit with a conventional bank is based purely on trust.
- Another good way to cause a bank to fail is to lock up a bunch of the deposits at a low interest rate and then when interest rates spike up and everything you got locked up is worth a lot less than what it was before, then you have to sell at a discounted price in case someone comes and demands their money back.
- You might be open to subjecting some of those dollars to an absence of control to risk volatility because when you take risk or you capitalize on an opportunity there, there may very well be a really positive multiplier of capital that works out really well for you, but there's a possibility that it won’t.
- If you understand the problem, the solution becomes clear and you'll know exactly what to do.

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