A Fairly Substantial !
A fairly substantial bank I think it was uh one of them was ranked like number 16. Biggest bank in the US so obviously um you know that of course a lot of alarm in the sense of Bank collapses basically because these are the biggest. Bank collapses in the US since 2008 which is why I'm actually looking at other Banks that are also falling heavily at the moment this isn't showing me what's going on properly right but another almost 40 percent decline I'm looking. What other Banks could possibly push over these Banks obviously have about you know 10 10 000 ft full-time employees kind of thing um or like yeah stuff but you know with their collapse what's happened is this ricocheted across the.
Banking market and there's there's you know some Bank stuff that I've picked up one of them is ZionZions bun Corporation and here right now this Bank obviously has about almost 10 000 employees it's got like a market cap of likeum s. Billion and you know trade volume was about 11. 5 million but the thing is is the Zion Bank listed on the NASDAQ very old Bankcould be next becauseit could lead to the collapse collapse of Zion Bank literally because it dropped almos. 40 percent right so you know this means that is a it's a bad situation because people have been queuing up as Zion Bank as well just like they have a silver gear I'm gonna make some videos about Silver gear but I'm trying to look at.
At these things first because they're quite urgent um you knowpeople have been withdrawing the money ASAP like uh one of the two uh I think it was uh svb got like 40 withdrawals or something and they just collapsed because I wasn't. Making any money all the money and people were taking it out too fast and there were queues of people in uh near Silicon Valley where the brand one of the branches is there's loads of images which I'll bring up in the other videos h. Where people are just trying to withdraw their money out of the banks but they can't get a hold of it and there's actually only about 250k in short but the ones who had more than 250k the millionaires they have all just lost all of t.
Of Their Money right ?
Of their money right so this case of what do you do in that situation it's actually quite a bad situation to be in now what's gonna happen obviously is the fds he's gonna look into the dealings of the Banks and obviously how that in. Insurance and when it's going to get paid out and you know they've offered some you know solos in terms of you know being able to the the save is being able to access their money but it's also hard effects svb has actually had eff. On the tech industry right there's a lot of startup tech companies and some I think I'm sure there'll be some established ones in there as well um which we don't know exactly which ones they are but there'll be a lot of startups so.
So there might have been I've not been too deep in the tech industry to find out which ones they may have been but I think a lot of startups will have uh basically just lost all their money and then coming over to the UK SP Silicon. Bank um was also in the UK there were a lot of tech startups here tied to it but all of those Tech startups now are at risk of our negotiations with um you know different parties and you've seen levels in in the Bank of England and. And things like that trying to figure out how they're going to pay the wages to the staff after this has happened so it's also affected the UK although it's not economically systemic in terms of the banking industry a financially.
Systemic I should say or embedded um it is still a risk in the sense of it will impact the economy of the UK because obviously that's Wages that's business growth that's um you know all these types of things will have an impact on t. Economy again don't know the figures of the UK yet so I'll probably make follow-up videos for Silicon Valley Bank and so we'll get but yeah Zion seems to be falling also about 40 percent and obviously when Market opens tomorrow I'll. Have to watch this tomorrow and see how much further it falls I don't expect I mean people are coming out and saying you know it's not like the same there's also another video I need to make about um FRC um the uh public bank has.