Surviving the crash

[Mono1]

Monday is going to be an interesting day,
Wonder how far the stock market will fall and if other banks start experiencing runs

The more the Runs, the more the Fed will print.

They will never let March 6th,1933 happen again. Not since they discovered the Silver Bullet.

Buy Hard Assets.

 

[Provincial]

The FDIC limit is just another victim of the intentional inflation of the dollar. in 2008, when the $250,000 limit was initiated, it was worth $347,382.53 of today's money according to this inflation calculator. Your FDIC insurance coverage is about 72% of what it was in 2008.

Here is a link to the inflation calculator:
https://www.in2013dollars.com/us/inflation/2008?amount=250000

I'll bet you are in a higher income tax bracket now, because raises to keep up with inflation makes your dollar income higher, while that extra money doesn't keep your lifestyle equal to past years.

 

[sobo]

I'll bet you are in a higher income tax bracket now, because raises to keep up with inflation makes your dollar income higher, while that extra money doesn't keep your lifestyle equal to past years.

Yes, I am in a much higher tax bracket than I was in 2008.

But the lifestyle to which I am now accustomed is well above the lifestyle I led 15 years ago, largely because I carry zero debt. That helps immensely...

 

[Provincial]

Yes, I am in a much higher tax bracket than I was in 2008.

But the lifestyle to which I am now accustomed is well above the lifestyle I led 15 years ago, largely because I carry zero debt. That helps immensely...

Yes, we all know that you are, to use a polite term, "unusual."

I intended that comment to apply to "normal" people.

 

[sobo]

Yes, we all know that you are, to use a polite term, "unusual."

I intended that comment to apply to "normal" people.

David Ramsey has a saying... "Don't try to keep up with the Joneses, because the Joneses ARE BROKE!"

I'm not a Jones...

 

[Longwalkhome]

To see of information out there and its reaching national news. This is worth watching because the banking crash can lead to government control of every bit of your money and what you can spend it on. Don't listen to me, here it is by some who know.

 

[Longwalkhome]

If a run on the banks starts Monday its very possible the government will shut it all down and force us into digital currency. The nation is done when that happens.

 

[sobo]

This is worth watching...

Um, yeah, we know... You're only 2 pages and 5+ hours late to the party...

 

[Alexx1401]

Monday is going to be an interesting day,
Wonder how far the stock market will fall and if other banks start experiencing runs

That was just what I was thinking. This kind of panic can get out of control real fast. Will be fun to watch next week to see how this plays out.

 

[Lilhigbee]

Pardon me while I adjust my tinfoil, you have to keep the fit just right.
Wouldn't it be awfully convenient for the underfunded FDIC program to be used to "distribute" the new fed-controlled crypto instead of actual cash payments, forcing everyone whose bank has crashed into the new crypto system, like it or not?? Crash a few more big banks in the coming weeks or months and presto, no money for FDIC, all we can give you is the new crypto, and suddenly almost everyone is either broke or forced into the new system.

 

[ATCclears]

Apologies if already mentioned...

The Federal Reserve is meeting on Monday (March 13, 2023). I expect a rate increase of 0.5%.

 

[arakboss]

Apologies if already mentioned...

The Federal Reserve is meeting on Monday (March 13, 2023). I expect a rate increase of 0.5%.

I am going with .51%

 

[Longwalkhome]

Um, yeah, we know... You're only 2 pages and 5+ hours late to the party...

You are correct. I missed your great post. I have been thinking too much and not reading enough.

From what I have read I think government could use emergency powers act and force the country into digital currency.

They will declare martial law and tell everyone you have 30 days to turn in your cash and after 30 days cash won't be accepted.
Am I fear mongering or is this about to happen?

A run on the banks tommorrow will be the trip wire in my opinion, I guess we will see if I have been right about the crash.

Yellen rules out federal bailout for Silicon Valley Bank

freerepublic.com

 

[ma96782]

US government moves to stop potential banking crisis

The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down. Regulators had...

www.yahoo.com

and......

More than 85% of Silicon Valley's Bank's Deposits Were Not Insured. Here's What That Means for Customers

“It’s like a Lehman Brothers moment for Silicon Valley,” says one Silicon Valley startup founder whose company has millions of dollars tied up in SVB

www.yahoo.com

Aloha, Mark

PS....more to come?

20 banks that are sitting on huge potential securities losses—as was SVB

SVB Financial faced a perfect storm, but there are plenty of other banks that would face big losses if they were forced to dump securities to raise cash.

www.marketwatch.com

 

[ATCclears]

The Stunning [But Inaccurate] Profile of SVB’s Chief Administration Officer – a Correction

Gentile’s Profile Prior to joining the firm in 2007, Mr. Gentile served as the CFO for Lehman Brothers’ Global Investment Bank where he directed the accounting and financial needs within…

mishtalk.com

 

[Jay Walk]

Drive on down in the morning if you actually believe your cash is on a shelf in the bank vault.

 

[Longwalkhome]

California wine industry faces financial crisis - with majority of vineyards locked out of their accounts amid SVB collapse

freerepublic.com

 

[bradsteen]

California wine industry faces financial crisis - with majority of vineyards locked out of their accounts amid SVB collapse

freerepublic.com

Well, with all the folks that will be drowning their sorrows once the impending financial crash hits, pretty sure this will be a short term problem for the wine industry.

 

[Howard1955]

Don't forget... with CBDCs, the gooberment can lock/obliterate "your money" on a whim, making you destitute should you not subscribe to The Narrative...

My tinfoil hat is picking up a signal that sounds like "666".

I need to keep at least one shotgun, so I can survive for awhile on birds and squirrel meat.

 

[sobo]

My tinfoil hat is picking up a signal that sounds like "666".

I need to keep at least one shotgun, so I can survive for awhile on birds and squirrel meat.


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And pimento-stuffed green olives...