remember the fifth of november, gunpowder, treason plot. i will say november the 5th. thank you, sports fans. fall back on november 5th. we have to go through the markets this is big deal. dow up 200. nasdaq 150. regional banks, taking it on the chin, still taking it on the chin. first republic down 65%. big banks down not as much as they were. big tech, don't you love it. microsoft up about six or seven bucks. how about that? that is it for "varney & company." "coast to coast" starts right now. neil: banks down but market is up as we try to get a handle on the failure of three banks, if you think about it, over little more than a couple of weeks now. what the implications are. you are looking at silicon

valley bank right now where customers are being told, depositors are being told your deposits are are protected. this extends to those with millions of dollars in the bank. doesn't end with the fdci usual limit of 250,000-dollars worth of protection. we're also following very, very closely, what is going on at signature bank in new york city. it too, essentially rescued. if you include it with silvergate that started on this march 8th, you now have three institutions essentially taken over by the united states government with assurances from the president that taxpayers will not be paying for any of this. what propelled stocks in the unusual environment where banks are folding it would seem pretty quickly. it is assurance right now, that almost means definitely, according to goldman sachs at least that when the federal reserve meets next week it will not dare hike rates in this environment and we are seeing that play over into trading in fed fund futures contracts which

now have dramatically lessened the likelihood of any hike in interest rates at all. that might be a bit from mature. people might chew on that, listen, we still have inflation problem here. the fed gives up the fight, that really a good idea? what wall street taking what it could get on noon on the east coast. kelly o'grady in los angeles with how all of this is going down, particularly with silicon valley depositors and others worried about getting that money even now. what are you hearing, kelly? >> reporter: good to see you, neil. obviously all eyes on the fed meeting today. i will say it comes once every week, so it is a little bit more routine. we can expect them to be talking about sbv today. it comes on the heels of fed and treasury announcing depositors will be made whole. i want to give you a sense what is going on the ground right now. it is roller coaster of emotions this week. i step out of the shot.

they let a few into the bank when they opened 9:00 a.m. on the west coast. they're letting folks come in at a short sometime. i got a few techs of relief. these companies were facing unable to make payroll. that relief is turning to concern. sbv was a flywheel in the tech ecosystem. the bank sharing 50% of u.s. venture back capital start-ups did business with them. that he is h equates to 65,000 companies. sbv provided a unique spot, provided loans catering to the ecotech system. i spoke to providers, bank was an integral part of start up world. that folks are lining up to get their money back despite assurances from the fed. fox spoke with one founder. >> this is huge history, 40 years, very credible.

people didn't put their money to take chances to get huge interest rates t was a safe responsible place to put your money. people are very, very frustrated. i think a lot of them are quite scared. >> reporter: so the problem becomes now where do these companies turn? there isn't a great answer to that question with concern being raised about other banks like first republic for example. i spoke with one founder who was planning to go with sig it. that is now gone as well. this will impact the smaller start-ups, neil, very much. the innovation economy hire in san francisco, los angeles has a lot to reckon with. we'll be watching this very closely. back to you. neil: thank you, kelly o'grady in california. john corpina at new york stock exchange. he is taking a bird's vie eye view with. i'm concerned this was looking like another meltdown, may be reassessing it. smart folks like you always

remind me, don't focus on the minute and the moment. what do you make of the minute and the moment? >> neil, good per smoke tiff this. if you take a step back you look at market activity we saw on friday, obviously significant pressure on the overall market and specifically this sector, some of these names in that sector. over the weekend we were anticipating more news to come out. we had a feeling the contagion effect was going to be in play and that is exactly what we saw. what was surprising to me was 6:00 p.m. we get the announcement about signature bank. s&p futures open. we shoot up 50 points in that overnight got as high as 70 points. then combing in today we saw a selloff, market opens, trades lower, we bounced back up again. what does that tell me? that is telling me how fragile this market is and how tightly we're watching headlines associated with this, how it will impact the sector, how it will impact the economy, how it will impact the fed decisions

moving forward. we'll continue to see the volatility. it is good to see green on the screen. i wouldn't be surprised to see a lot more volatility as we get towards the, towards the end of the day. we know more headlines are coming out. the fear is that there might be some other banks might be pulled into this, whether by their own fault or guilty by association, but i don't think the headlines are over in this one topic right now. neil: you know i've been taking a good eye certainly at first republic. jpmorgan chase said a lot of good things about it. i don't know how much funds it put in to match its kind talk. obviously it's crucial client but something like a bank of that size begins to get on the ropes, then you start questioning, mid-sized regional banks who through no fault of their own are sort of caught up in this, right? >> yeah. listen, neil, we hit the snowball effect here and it starts to get some rolling,

starts to get some momentum whether it is true or not. we've seen this, i'm not comparing it to meme stocks. i've seen this before where stocks swing for no reason up and down and it's the fear of missing out. it is the leapfrogging. everything just kind of snowballs into effect here. some of these companies might get pulled in unintentionally and not by their own fault or all they're doing. guilty by association. so what the fed did over the weekend, and i'm supportive of what they did, the timing, how they did it, put a stop to it, deposits are secured for these two instances here. i think the fed, and government in the back of their minds are, let's see what happens, see how this plays out. we might have to step in for another bank or two. the facts to me, the reality to me, they can't do this for every single bank out there, nor do i think they want to, nor do i think they plan to, short term stopgap is in place. it will be interesting to see what the next few days look

like. as this all kind of rolls into the fed's interaction here, how the fed will react to interest rates, what this means for the overall picture. neil: are you in that camp, jonathan, that says given these developments, the fed might kind of hold tight for a while? expectations of a rate increase at the next meeting next week, maybe not? maybe they will put it off, if they have a rate hike at all? >> you know, neil, we've spoken about this before. the fed holds all the cards, right? they're at the table. they see all the cards. they know what's going on. they are going to remain data dependent. this is another data point they will lean own. they have bullets in the chamber whether raising rates or cutting rates. i think it would be wise at this point in short party hold back, see how it plays out. let's not go 50. we'll do 25. i think everyone is expecting that. if they keep things flat, i'm

not support tiff of keeping things flat, once you keep things flat, the next move up or down will have much more of an effect but i think they can do a little bit of a pause at this point to see how the whole plan plays out. take the headline off the table. last week we still had concerns about interest rates, economy, how it will play out. throwing this in the pot certainly stirs things up a little more. it will give them an opportunity to pause. neil: you know, could be interpreted, they're putting out a fire in the moment and i certainly get that, jonathan, other people might start reassessing this and saying well you said inflation was a big problem, you're going to be on top of it, you're going to be aggressive, we understand your reasons potentially for pausing because the fed has not indicated that we should stress but if they do would that get the markets in a perverse sense all over again, oh, you're behind the inflation fight? >> it certainly might, right. it certainly might look on one side of it that they're being

proactive, other side they're reactive. market trades accordingly. that goes back to original points they're making. the market is so fragile at this point. we've been able to hang in there. which is a very good sign. we could be easily 4200 s&p. we could be back down, 38, 37900 at s&p. that will all have to weigh into it. neil: we're having wild things up and down. we've been almost a 600-point range just today. jonathan, great catching up with you. thank you for your calm perspective on all of this. want to go to ryan gilbert, vested interest in all of this, launchpad capital founder, had a lot of money tied up, still does in silicon valley bank. kind enough to join us. ryan, what are you hearing and is your money going to be available to us? >> good morning from oakland, california, i'm told our money is safe, the company's money is safe. when we go to the silicon valley bank website we get

transactions, error 503. that is error message when the servers are overwhelmed and not working. we have to have patience and the u.s. government we trust. neil: the u.s. government is saying essentially to you not only depositors are protected, no matter how much they have on deposit. you have millions on deposit, payrolls depend on that all of that, have you been in contact with any fed regulators who told you, ryan you need not worry? >> we're hearing that a lot from members of our congress from our area, local mayors, the mayors of san jose but i think they all agree here in the bay area swifter action is necessary. we're working in a sound bite world. this was a twitter fueled run on various banks and in 2023 depositors know more about the state of their financial institutions than ever before in the history. what we don't think our federal regulatory system and process is up to the speed of markets and speed of information flow.

to wait four days to get resolution when issues were well-known ahead of time we don't think it is good, prudent regulation. we hope to see upgrade to banking regulatory systems so real-time basis our regulators can act, not wait for quarterly reports from banks. neil: what will impact be on your business? assuming you get access to those funds, what do you see with the funds, where do you see the business going? a pall cast last hour 1/2 or so in technology shares, even interest in venture capital, money funding operations such as yours, do you worry through no fault of your own spillover what you do? >> it's big issue. i liken this to an earthquake. there are massive holes on the ground. we have to find a way to fill them. for the past 40 years silicon valley bank was a key ally in the venture capital system in the bay area and across the world. they backed venture capital deals with lines of credit. they backed venture capital

firms with lines of credit. they were the partner you needed in order to appropriately, safely leverage these investments. they have disappeared now. the other banks doing the same work but none of them as large as active as silicon valley bank. hopefully proper institutions come out and do it fairly. one thing i don't want to see expensive sources of capital coming in to be vultures at this time this is not a time for vulture capitalism. for good regular latetores to work with the financial institutions to keep the economy worry. neil: are you worried no big names are coming in to scoop up, silicon valley, other institutions? helped or make burnt by the finance aol melt down where the government forced jpmorgan chase to buy bear stearns or merrill lynch, i don't see a lot of that going on, but might be once burnt, twice shy. the government can force the

issue. it hasn't yet. what happens to all the entity toss rescued by the government with nowhere to go? >> neil, i'm very worried. i'm concerned because quality of the customer base, depositor base at silicon valley base in particular was a very strong one. it is not only vcs, startups. there were massive investments and customers across the ag center, wineries in northern california and clean technology. from that perspective the group was diverse. the group is key part of a employer, employee relationship in this country with 3.2 million employees through vc, 11.8 million through private equity. somebody should scoop up the relationships to make good business about them. folks are scared, particularly those operating our primary money center banks. neil: well-put, ryan. i wishing you well. i trust you will get your money. your people will be safe, investors will be safe. still early. we're keeping an eye on it.

thank you very much for taking the time. >> thank you. neil: all right, ryan gilbert on all of that. a guy who saw a lot of this coming is the same guy who saw lehman brothers folding long before anyone did. that was before the last meltdown. i don't know if robert kiyosaki says we're in for another meltdown? he has big investments big into gold, big into silver. would you know they are soaring today. robert kiyosaki what he does now after this. who's on it with jardiance? ♪ ♪ we're the ones getting it done. we're managing type 2 diabetes and heart risk. we're on it with jardiance. join the growing number of people who are on it with the once-daily pill, jardiance. jardiance not only lowers a1c, it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight.

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♪. neil: money has been sneaking back into stocks but it has been a remarkable story into the precious metals a lot of hard commodities. gold for example, up north of two 1/3%. look at silver up 7%. copper doing quite well as well. don't say robert kiyosaki wasn't telling you this was a good haven in these dicey times. instability everywhere. it is panning out today certainly in the banking sector. how long anyone's guess. rich dad, poor dad, cottage industry like to call him, talk to him right now. robert, all the investments are doing quite nicely. a lot could be the knee-jerk concern about the stability of the banking system, doubts where it goes, safe haven to park

cash, what do you think, and how long does it last? >> the problem as you know, for year kept dropping interest rates and now powell is raising it. the real problem is the bond markets crashing and the bond market is systemic. i'm concerned about iras, pension plans and all of that. so, this is more than, i'm concerned should i say, you know, thank you for all these years letting me come on your program say buy silver, buy gold, because when i first started coming on i think this was $3, this was $50. and now it is 2,000. it didn't get any bigger, neil. neil: not get any bigger. what is interesting today, robert, if you look at it, might be just sort of coincidental blip. all are rising. bond prices rising. yields collapsing. 10-year note was over 4% last week. it was around 3 lynn --.45%.

last i looked. bank stocks off the lows, metals doing just fine, that can't continue indefinitely, so what wins out? >> no, the thing i see is that the fed, the fdic are signaling hyperinflation which makes gold and silver even better because this thing here is trash. they're going to print more and more of this fake money. that is what the fed and the fdic is signaling. we're going to print as much of this as possible to keep the crash from accelerating. but they're the guys who are causing it. neil: in other words, what the federal reserve now saying, essentially we'll be a backstop to say nothing of the u.s. government for all these institutions in trouble. now guarantying deposits for those with way more than $250,000 at a bank. three different banks right now. you think that will be inflationary and you think the

pause that some are expecting on the part of the federal reserve, on raising rates will only exacerbate this? >> well they have to bail out now, which is not quite legal anymore but as i said, they're going to print more and more of this stuff and it makes this stuff gold. i think this is the best investment of all is silver because every tomahawk missile has 30-pounds of silver in it. every time they push that missile button, 30-pounds of silver disappears. so we're in serious trouble and the fed and the fdic are signaling we'll do whatever it takes. that means print more of this stuff here. this is trash. neil: stepping back from what you like about metals and putting your money in a mace that place that can counter what you're seeing what are you seeing in terms of inflation?

the federal reserve has been busy, a year ago, friday when they started raising interest rates going from row, close to 5% where we are now, overnight lending rate, do you see that paused indefinitely? do you see any possibility they reverse action? or what happens now, taking a look at the whole, you know, the whole kettle? >> well, let me say it again, the problem is the bond market and my prediction, i called lehman brothers years ago and i think the next bank to go is credit suisse and if that happens, japan -- neil: because of its exposure to a lot of this? >> yes. because the bond market is crashing. you know all those bonds, say you're getting paid 5% for a bond, it goes to 10%, the 5% bond crashes and the bond market is much bigger than the stock market as we know. neil: absolutely. the. >> fed is -- what they say the

firemen and the arson. neil: you know what is weird about this, this jolt, robert any want to get your thoughts on it, this silicon valley bank, they can talk about poor management, a lot has been said about that but more than half their overall portfolio was in u.s. treasurys, treasurys notes and bonds. certainly not mortgage-backed derivatives, not crappy mortgage-backed derivativeses to unknowing investors, so they were doing something looks like the right thing that would be conservative thing. the oddity, they were buying things at rates zero, prices were higher for treasury notes and bonds, when they had to unload money they were underwater. so you can't win in that environment? >> no. that is why i said the biggest problem is the bond market which is the biggest market in the world. all the countries of the world are in u.s. bills, t-bills and

t-bonds and. we had the "bric" nations coming up. they hate us and they might switch to the chinese gold yuan. so we're in serious trouble. u.s. dollar is losing its hegemony in the world right now. they're going to print more and more and more of this trying to keep this thing from sinking. so that is why silver today -- neil: that has been going on for years, right, robert? we have these huge days like this you're quite right to note, it's clear phenomenon today but we've had these punctuating our history over the last 20 plus years. what makes this go-round different? >> our debt-to-gdp is over 130. every time they raise the interest rates america's taxpayer gets hammered. my concern is the pensions are in trouble, because a lot are in bonds also. my generation, the boomers,

trying to retire, so this is the, perfect storm in many ways. so i, like i said, again as i think the fed and the fdic signaled, they're going to print again which makes stocks good but this little silver coin here is still the best. it is 35 bucks. anybody can afford $35. i'm concerned about credit suisse. neil: interesting. i have heard that before, if you get a big, big bank that has this exposure, credit suisse does have a lot of conservative treasurys on its portfolio. that has been raised. the bank said it is well-financed, well-secured, all of that. we'll watch it closely. robert, good seeing you, even with forecast like that, robert kiyosaki, rich dad, poor dad best-selling author. had a lot of phenomenon. he saw lehman brothers long before anyone else in the last meltdown. let's pray this time what he is seeing doesn't help with this

potential meltdown. >> i hope. neil: i hope you are. i love your forecast, everything else, robert, man, that is a scary scenario for the whole world. so far we're not seeing the market scared by this i always stress when you watch the market in a minute, in a moment, you shouldn't overstate it here. one thing that robert said among others that was interesting we can't just print our inflate our way out of this. some argued the president of the united states is doing just that, especially when he says of these rescues, they will not being born by american taxpayers when in fact history tells us this. with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside

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time of that crash, at george w. bush, the time of the meltdown and that crash, and president biden, the moment of this latest bank failure or failures. we're up to three right now. go to grady trimble on all of this on capitol hill. >> reporter: neil, at the white house today actually the president on his way to san diego where he will announce a submarine deal with the leaders of the uk and australia, to try to calm fears about china's growing military power but before he left for california he had to try to calm fears that our country's banking system could be on the brink? president biden: banks, thanks to quick action of my administration over the past few days americans can have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country, that deposit accounts at these banks can breathe easier knowing they will be able to pay their workers and pay their bills. the hard-working employees can breathe easier as well.

>> reporter: the biden administration insists it is not bailing out silicon valley bank and signature bank because wealthy investors will face the consequences of the risks they took. they will lose their money. biden says that is how capitalism works. he also says taxpayers aren't footing the bill to cover the depositors. still some lawmakers are suggesting a bailout is exactly what these banks are getting. >> that's if there is mismanagement in the banks like what we've seen with a couple of these, they are allowed to fail and that those who are responsible for the failures are held accountable. we can't just keep bailing out banks that make the risk, make the wrong decisions. >> reporter: the president also says he is going to ask congress and bank regulators introduce new rules so what happened to these banks is less likely to happen again. unclear what those new rules might be. neil? neil: looks like rules are

coming. grady trimble thank you very much for that. want to go to congressman cory mills, florida republican with us right now. congressman, the president is talking about beefing up regulations not directly but that is certainly being intimated by his treasury secretary and others. do you think they're warranted here? >> well i think that, neil, we certainly need to look at certain regulations to insure the safety of individuals who are depositors. i think when it comes to investors they're kind of at their own risk. like the community pool, swim at your own risk, bank and invest at your own risk. interesting to me, neil, so many americans who will go on these tirades about m&ms, nike, woke businesses that are out there and you know the cofounder for home depot, bernie marcus really hit on this. you know our banking is something that we should be looking at very highly as well. what their actual risk lending procedures are, whether or not it is one of the wokest banks

looking to prioritizing certain esg-based investments which had very poor returns on investment as opposed to more traditional lending. so i think we have to start looking at this. neil, what really disturbs me is two things. we saw what happened in the 2008 recession where we bailed out tons of banks, tons of investment lenders and instead of putting necessary wording in place they were rewarding themselves with bonuses and payouts for failure. we saw this with the recent ceo of silicon valley bank where he just, he cashed out with almost 2 1/2 million dollars in profits knowing the bank was in failure. why wasn't his first thing to do to alert the depositors, alert his clients and the patrons as opposed to thinking about his own independent wealth and bonuses for everyone who is in the bank for failure? neil: i can see a number of investigations are in the works on that front, congressman. i am curious, do you think we can examine the tiktok all of

this, knew what and when, i get that, sir, federal reserve, dramatic hike in rates, think about it, congressman, a year ago on friday we started raising rates from zero to where we are close to 5%. some people just got caught own the wrong end of that. a lot of banks like this one were buying securities at that price high, if you think about it. then when they had to sell to cover some people who were taking money, wanted to take money out of the bank they were upside down on that. the irony on a relatively conservative investment it turned out to electrocute them and there might be many other banks in the same position. what do you think of that? >> neil, you're exactly right. as your previous guest, robert and yourself accurately stated you cannot continue to have the inflationary spending that is going on and it occurred under

both republican, democrat presidents alike but we continue to get our point into a point where we do have a gdp national debt offset of 129% ratio. as a former business owner i can tell you if my account receivables are 129% less than my account payables i will be insolvent as a business. that is what we are as a country. so this idea as well when we're approaching this new national debt ceiling we can cut our ways to prosperity is foolish. it is a foolisher rand. we know as businesses you can't cut yourself to certain size of profitability. the only way to succeed, gain more revenue. we have to think about onshoring, address workforce issues. mineral mines exploration. not discretionary, mandatory cuts but we have to look at gdp growth. the idea we can print more money to get our way back to prosperity through cuts i think

it's fool's errand and that is why we're in the situation we're in. neil: that is very well-put, helps to have a guy steeped in school in running a business to know if you owe more than you're taking in, that is not sustainable. congressman, thank you very, very much. the congressman was right on that. just to put this in some perspective, i said it repeatedly on this show, we as a country owe more than we're worth. in other words our debt eclipses everything we have, everything we're worth, every asset we enjoy, every good thing, for the first time in american history is dwarfed by everything we owe. we'll have more after this.

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good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. ♪. neil: all right. one of the so-called moral hazards what has been going on in the banking industry right now is the difficulty might pop up getting a simple mortgage to say something of a home equity

loan, banks might scrutinize that more, customers might bolt more. mike aubry, berkshire hathaway home services group. he specializes in this sort of thing. he is a big cheese there. mike, spell it out for me, what are we looking like for a environment like this. >> interestingly, neil, i don't know there is true linear impact what is happening with silicon valley bank and what is happening on the mortgage side. the collapse of this bank is not necessarily going to impact the end user getting a mortgage, i hate to say it, hate to stand over the warm body of silicon valley bank, the impact we're seeing right now, rates have dropped 50 basis points since friday. what this is going to do, it will make people be able to get a mortgage at a lower rate than they were able to on friday, which will stimulate my sector. i think more people will be out buying based on that rate change. neil: so if that were to continue, right, and this didn't spread, because you want to be

technical about it, besides what has happened with silicon valley and now signature in new york, we had silvergate before all of that, if this were to spread and raise contagion fears, i think that to your point, i think you're exactly right a bit premature, you know, this gets to be emotional and psychological than anything else that the industry might look at lending more carefully? even those looking for loans might move gingerly. so play that out? >> i buy that. i think that look first fannie and freddie. i don't think we'll see fannie and freddie put out some sort of notice to lippedders anytime soon, hey, we'll change underwriting guidelines based on what is happening with this. i think the more direct impact is jumbo money. jumbo money is all banks. i think you might see banks

begin to sort of tighten things a little bit and i again, i don't think that would be put out in the form of a note to everybody who is selling their paper. rather i think the guidelines might change slightly and automated underwriting systems, you know, might be changed on the back end. that would leave loan originators to sniff out exactly what the changes were. neil: got it. talking about jumbo loans, bigger loans. let me get this, glad you put it in perspective here, there was and is a fear of a fallout for real real estate market, mortgage lending and lending in general you just don't see that. i'm wondering giving the fact that so few fed will hike rates at all at the meetings next week, maybe stand pat for a while, that could work for mortgage demand? >> i agree. absolutely think that it will work for mortgage demand. the reality is the last jobs

report with that monster number that they put out got rates back up over 7% and now you look at what happened on friday and guess what? there was a jobs report on friday and everyone basically closed their eyes to it based on what was happening at silicon valley. you know the number of jobs that came out didn't have a real impact and if it were not for silicon valley bank, what is going on right now with the treasury and the fed, i think we likely would have seen based on that jobs report rates go up but instead we're seeing the inverse. neil: do you worry that could be a problem though, that the fed could lessen or loosen its inflationary resolve and it is just delaying a problem that will come back later? >> well, i mean, listen, i think if i had it all to do over again i, and i were mr. powell, i would have preferred the pull the bandaid off quickly way back in the beginning and they had

done a quick rate hike, all at once, a big number, but instead i think the way they have slowly done this, and way they continue to slowly do this, he had to double down on being hawkish at this point on rate hikes, i think that at this point these hikes may be stifling the economy more than helping it even though they're in fear of what's happening with inflation. neil: this might be the catalyst for them to sort of calm down? that is sort of a weird, but a very interesting angle on this, mike aubry, thank you, very, very much. we like to get the views out there, you heard everything, switching around a lot of shows, we're going to hell in a handbasket, you might never eat again, as if, let's see the whole mixture here. we're not sugarcoating it anymore than we're dashing vinegar on it, be aware there are variety of views on this subject. brian brenberg coming up 12

minutes from now on his fine show. brian: if it looks like a bailout it is probably a bailout. american taxpayers will ultimately pay the price for the collapse of silicon valley bank. china brokering a deal between iriran and saudi arabia. nor "coast to coast" after this dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones with gold and copper prices pushing towards all-time highs, u.s. gold corp is advancing its environmentally

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♪. neil: all right. remember as i say, i do a lot on show, neil, why do you have to rain on the parade we were up about 300 points. i like to focus in the moment, in the minute, this is what is happening. i like to stress, that is the way markets move. sometimes there is a tendency, depending on the show, whatever, the network, they can seize on something, this is a stamp on official view what will happen for the rest of the day. now the dow is down. back and forth on this. there could be a variety of reasons. i'm not smart enough to know but i just know this, that don't hang your hat on any given moment. that you might apply the same to those investments, sectors that are soaring, particularly right now what has been happening on the crypto front. take a look at that it is remarkable. like gold, a lot of these commodities that are jumping up take a look at crypto right now where bitcoin is up more than 13%, more than $24,000 a coin. it is extending. we're not showing it here. i should tell you extending to

etherium, xrp, how long that lasts anyone guess. christopher alexander, chief blockchain communications officer. christopher, when you look at signature and you look what's happening with first republic, of course big investors in this arena, you want to make sure they're stable. maybe that has something to do with this, fed comes to the rescue, government comes to the rescue. all could be right with them. by extension all right with, with crypto investments. is that what is going on? >> i think so. first of all, silvergate which was a very orderly exit from the market. what was that wednesday? so much has happened which is odd considering we've been told there is no regulation. the market, sounds like the markets or regulation worked fine there. then you move over to svb,

silicon valley bank. you have 25 billion-dollar bank term funding program that put liquidity into the markets. bitcoin liked that i think the uncertainty over the weekend has been sort of quelled with the protection of coinbase, circle, so many other peoples deposits that, the coins are coming back. so is other crypto. neil: you know, bitcoin, you could make a very credible argument it's haven in times like these, much like gold, like rogue investments. i don't think that is a fair description, if you don't have a market to trade like coinbase, to your view, that you know, schorring up coinbase, shoring up the support for institutions that allow this type of trading, that helps. if they're in some disarray, no matter what the logical case for these investments, if you can't trade them they don't move, right? >> absolutely. i think, with silvergate and

with svb you have people recovering their deposits and they are crypto true believers in signature as well. perhaps they're looking to put money in bitcoin rather than trusting banks. neil: so how do you see the environment real quickly right now for these type of invests? >> will, i think it is comforting. usdc coins are begged to the dollar, depegged over the weekend with the uncertainty at svb. and you know government has stepped in. it seems to have steadied thing. it is high-risk sector by default. i think the stability we're seeing, orderly exit of sill gate, svb being managed, signature being managed, it is assuring to people with not that type of risk at some point to back away and feel safe. neil: you got to find a market where you can play that risk. well-said, christopher. great job, i appreciate you taking time on crazy, crazy day.

no doubt a crazy week. christopher alexander, liberty blockchain chief communications officer. very quickly letting you know about the next fed meeting where just last week eight out of 10 seemed to believe we would see at least a quarter-point hike in the overnight bank rate known as federal funds. now fewer than one out of three feel that way. what a difference a couple of crazy trading days make. more after this who's on it with jardiance? ♪ ♪ we're the ones getting it done. we're managing type 2 diabetes and heart risk. we're on it with jardiance. join the growing number of people who are on it with the once-daily pill,

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neil: you can rethink a lot of spending plans and stocks take it on the chin and growing indications this could reverberate, before my voice goes i want to toss to my friends at the big money show. tell me how, brian, what do you have? brian: thank you very much. taylor, we've been talking about flights and maybe they're coming back. taylor: there was a survey and inter-nags that will travel search higher than it's ever been and interesting. the international versus domestic travel. >> people want to get out. bad news is good news somehow on wall street.