This is it, and really banking (and any currency for that matter) is a make believe system that ONLY works because we all believe in it. If that trust is broken

This is it, and really banking (and any currency for that matter) is a make believe system that ONLY works because we all believe in it. If that trust is broken or there’s a panic leading to a banking system collapse, everything else will. Like the world will grind to a halt. If people stop believing in the currency, our paper monopoly money won’t be worth shit. So much of this is built on trust, it’s literally the government’s job to step in and fix this before this explodes. Luckily, it sounds like SVB has the assets to cover the losses but not liquid so it will take time. Also, nobody is getting a bail out. SVB is dead, period. Depositors money belongs to them and they should be made whole. This could have been so much worse.