Jim Acosta, a CNN host and reporter, made one of the most uninformed statements that I have ever heard on air this weekend when he said that runs on bank deposits were irrational. He was discussing the Silicon Valley Bank (SVB) collapse caused by what may have been the first bank run on deposits ever in ‘digital banking’ history. Money now moves with the flick of a computer key. People are told “not to panic”. I have always argued that it is often smart to panic as long as it is before everyone else does. I panicked and sold all of my 2022 corn last December and “so far so good”. When pundits tell you not to panic, what they are often really saying is that you should have panicked some time before that. As in the case of SVB, those that panicked first got their money wired out of SVB before the FDIC stepped in and shut it down. There are companies in that category that will make payroll because they panicked and got their funds transferred to safety. It seems to be a common assumption that all bank deposits are insured by the FDIC. They are not….