Rondo affected by svb failure?

[nomadh]

Hi guys. I just caught this in my rondo email at the end.

20230318_090653.jpg
Tuckel has noted that while some chickens believe that the failure of SVB and a few other banks may not affect many of us, their affects are actually far reaching. Rondo Music, for example, was unable to receive payments for its sales on Reverb (owned by Etsy who banks a SVB) with no firm indication payments would be eventually arriving until the following week. She wonder's what's next for the banking sector. Meanwhile, Snugles has noted today is the first day in many months we are expecting preciption in the non-frozen form. Has Spring spung?



Crazy connection. Right? I was against the once again special rights to spend more of our tax $ to bail out above the laws $250k fdic.
Turns out rondo could have been stiffed through etsy possibly or at least greatly delayed.

[BatUtilityBelt]

Yeah, a ton of SVB clients would be tech giants way beyond $250K a day in each direction (out and in).

[tonebender]

The situation will cause delays. Since the feds have signaled they have everyone's back for all monies not just the 250K limit, businesses and individuals should be able to secure assistance from other institutions to bridge the gap. PITA and certainly will certainly have a cost but it should not result in catastrophic financial failure.

[jtcnj]

I hate to see the trickle down hurt the rest of us, but the bank and those rich folk depositors knew they had huge uninsured deposits. Something like 80+% of total deposits.
D'yever notice the "trickle down" is always only the bad and never the good for the rest of us?
I won't say more.

[nomadh]

I hate to see the trickle down hurt the rest of us, but the bank and those rich folk depositors knew they had huge uninsured deposits. Something like 80+% of total deposits.
D'yever notice the "trickle down" is always only the bad and never the good for the rest of us?
I won't say more.

Those companies knew and could have used multiple banks to minimize the loss. BUT no I guess it's still cheaper and easier just to bribe congress to make us pay for it with another 2 points of inflation. The plan on junking our currency for a new initial currency soon anyway that they can micro manage anyway so why not.

[toomanycats]

Does Tuckel care to prognosticate when the price of eggs may return to normal, or would that involve inside the coop information?

[mozz]

I want my Rondo emails back, for some reason i don't get them anymore.

[Partscaster]

I hate to see the trickle down hurt the rest of us, but the bank and those rich folk depositors knew they had huge uninsured deposits. Something like 80+% of total deposits.
D'yever notice the "trickle down" is always only the bad and never the good for the rest of us?
I won't say more.

Its really "Tinkle Down" economics.

[Jaymo]

Does Tuckel care to prognosticate when the price of eggs may return to normal, or would that involve inside the coop information?

Inside lay-er information?

[LightWingStudios]

Hi guys. I just caught this in my rondo email at the end.

20230318_090653.jpg
Tuckel has noted that while some chickens believe that the failure of SVB and a few other banks may not affect many of us, their affects are actually far reaching. Rondo Music, for example, was unable to receive payments for its sales on Reverb (owned by Etsy who banks a SVB) with no firm indication payments would be eventually arriving until the following week. She wonder's what's next for the banking sector. Meanwhile, Snugles has noted today is the first day in many months we are expecting preciption in the non-frozen form. Has Spring spung?



Crazy connection. Right? I was against the once again special rights to spend more of our tax $ to bail out above the laws $250k fdic.
Turns out rondo could have been stiffed through etsy possibly or at least greatly delayed.

I heard the same thing and I immediately suspended sales of our products on Etsy for a week.