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Risk of banking contagion ahead?
- Thread Starter ATCclears
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This is probably foreshadowing of the economic ugliness to come, ladies and gentlemen.
Negative rates come to the US: 1-month and 3-month Treasury bill yields are now below zero
Negative rates come to the US: 1-month and 3-month Treasury bill yields are now below zero
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Congress passed a $2 trillion stimulus package. Plus they signaled the fed will inject another $4 trillion in liquidity (funny money) into the banking system. This is not money that we have. This will be printed paper or digits. Created out of nothing. It will not be good for the value of the currency.
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Sounds like they haven't passed it after all. They've reached agreement in the Senate, and say they will pass it today, but it still has to go thru the House. There's still time to add more pork.
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I notice my small collection of Federal Reserve Notes continue to advise "This note is legal tender for all debts, public and private"......
sure seems more tidy than carrying around all that clunky silver & gold that used to weigh so heavily during my travels about the Realm making them ever so much more physically burdensome. Now all I have to worry about is banksters, grifters & political fraudsters and of course the friendly IRS agent instead of mere hooligans & official bandits face to face.
sure seems more tidy than carrying around all that clunky silver & gold that used to weigh so heavily during my travels about the Realm making them ever so much more physically burdensome. Now all I have to worry about is banksters, grifters & political fraudsters and of course the friendly IRS agent instead of mere hooligans & official bandits face to face.
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I am afraid that we are in for some 1970's style inflation.
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Yep. I remember those days. Not fond memories.
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Should we be keeping our cash under the mattress?
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Where are the best places to buy silver coins around the metro area? I was in Tigard Pawn the other day and asked if they had any silver eagles or like coins and he laughed at me with his eyes.
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I think if you're looking for precious metals (e.g. gold, silver) now it's a tad late.
As for me, more cash on hand should the banks "lock up" for some reason.
As for me, more cash on hand should the banks "lock up" for some reason.
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Money belt
If you have a mortgage, and it is fixed, then you should keep enough in your financial institution to make payments for six months (assuming you make auto payments like I do). That mortgage isn't going anywhere - especially since it probably isn't going to be wise to try to sell property in the coming months due to the real estate market future (unless you have a buyer right now).
If the financial system collapses such that you can't access the $ you have there, then having $ underneath your mattress won't help either - it probably would be worthless and as some people say, you can't eat gold/silver. If you want to hide something under your mattress, I suggest food, guns and ammo.
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Fiat currency eventually fails once debased from metals. The time frame differs from country to country, the US dollar is strong, just steadily loosing value over time due to massive printing. A gold 20 dollar coin was once equal to a 20 dollar paper note, now the same coin is worth 1500 dollars worth of paper notes. We left the gold standard in 32 or 33, then saw the end of silver in 1964, and even copper cents in 1983. Fiat is only as strong and of value if you and the system believe in it. I will happily trade you a one trillion dollar bill from zimbabwe for your firearm of choice. The bank notes from Germany during their hyperinflation/massive printing days became wall paper.
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Those words are beginning to ring hollow as more and more business are refusing to accept the green. This should be illegal. Started with my doctor some time ago but now due to the pandemic, coffee shops we frequent, papa Murphy pizza, and even our credit union is making it difficult to get anything in quantities or denominations not available through the machine requiring calls and appointments for other transactions. Thankfully the grocery stores so far take cash.
We don't do plastic, and cash is no longer king, who da thought!!!!!
This worlds really gone down the toilet.- Messages
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All my tenants paid their rent.
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The market is going in the right direction
Looks like we are headed back up! It is a election year though.
Looks like we are headed back up! It is a election year though.
You going to fall for that? I made the mistake of looking a few days ago.
I know it'll get better in time. I'm just not going to look at it again until many days have passed where I hear bits on the radio of GAINS!
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I'm actually not sure reallyYou going to fall for that? I made the mistake of looking a few days ago.
Obviously lots of tentacles to this recovery or complete wipeout
If trump loses I know we are screwed.....
Well there's not much we can do about that, unfortunately. I don't like watching about THAT either. I've pretty much not seen a news program in almost a month. Nothing but some radio when I'm out and about, which isn't much either.
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