> A Bank Insolvency Procedure would mean that eligible depositors are paid out by the FSCS as quickly as possible up to the protected limit of £85,000 or up to

> A Bank Insolvency Procedure would mean that eligible depositors are paid out by the FSCS as quickly as possible up to the protected limit of £85,000 or up to £170,000 for joint accounts That was still £85k in the 2008 Financial Crisis. Why does the Bank of England ignore inflation when it wants? It makes Crypto safer, if it wasnt for the massive amounts of funny money aka fiat currency thats inflating crypto and then taking it down again! >If I deposit a dollar in my bank account. Do I legally own that money? Or do I have a legal contract with the bank that they’ll give me back that money? In the UK, no, the money becomes the property of the bank its been deposited with upto the £85,000 deposit protection scheme which has not gone up since the 2008 financial crisis. https://www.bankofengland.co.uk/prudential-regulation/authorisations/financial-services-compensation-scheme https://www.bankofengland.co.uk/prudential-regulation/author... Its the same in the US and other countries, the money on deposit is the property of the bank, which is why these central bank/Govt protection schemes exist in various countries. Europe has the largest banking sector in the world, bigger than the US as its been established for longer. Whats interesting with SVB is they chose to go in the opposite direction to what some call Basel 4 which others call Basel 3 or Basel 3.1. Basel 3.1 is an international banking accord which came into force on the 1st Jan 2023, which forces banks to have more money on deposit in an attempt to compensate for the viral nature of the internet and modern day communications. Todays Banks Runs are examples of the viral nature of the internet, and the US freedom of speech makes the US banking sector more vulnerable than the rest of the world when it comes to banking stability. Throw in the US mindset typified by Facebook with their slogan "Move fast and break things" and this mindset is exposing and weakening the US banking sector. Banking should be boring. It will be interesting to see what big name US tech companies have been affected by SVB besides the lessor known unicorns, but right now I'm shorting the US tech sector in general. If you are selling property in Silicon Valley and have had an offer, get the contracts signed and deal completed asap, Silicon Valley is going down.