Surviving the crash

[VinnieBoomBah]

The more I read about SVB the less I think calling it a "bank" is appropriate, something more descriptive of a 1920's style mob run numbers joint would seem more fitting.

 

[Burt Gummer]

Wow - Even Tucker Carlson reported on Fox that the 3 bank failures were by design to bring in the new global digital currency

 

[VinnieBoomBah]

Wow - Even Tucker Carlson reported on Fox that the 3 bank failures were by design to bring in the new global digital currency

A fear monger mongering!! What will happen next?

 

[Hueco]

The more I read about SVB the less I think calling it a "bank" is appropriate, something more descriptive of a 1920's style mob run numbers joint would seem more fitting.

Mob Numbers/Investor/HedgeFundy Shady Booky/whatever.

Alls I know is: if you're so large an enterprise that your bad investments can kick off or singularly crash the economy of our 330M person country…then you're too damn big.

Communism, socialism, I don't care what it's called - take all the massive players and cap their investable amounts at whatever value is 100x less than it is now and split up the "bank" accordingly. No single institution should have this much affect.

 

[VinnieBoomBah]

Mob Numbers/Investor/HedgeFundy Shady Booky/whatever.

Alls I know is: if you're so large an enterprise that your bad investments can kick off or singularly crash the economy of our 330M person country…then you're too damn big.

Communism, socialism, I don't care what it's called - take all the massive players and cap their investable amounts at whatever value is 100x less than it is now and split up the "bank" accordingly. No single institution should have this much affect.

Doubly so when these same people are the ones that lobbied (read that "bribed" or "paid off") the .gov to have rules put in place to restrict this behavior overturned!

 

[gmerkt]

BUT, But, but........I wouldn't.

Definite, complete, and utter HARD NO on jumping into crypto. The jump into Bitcoin is borne out of panic, not logic. It still has no backing, is no less flakey than fiat currencies, and has no FDIC insurance. Completely speculative.

 

[Burt Gummer]

Amazing that just 2-3 years ago this guy was just a mainstream-type CPA offering financial advice. Then he took the red pill.

All of this is easier to grasp when one understands the USA is just one giant failing Corporation. Everything it does is for resource gains or more power. Your well being doesn't factor in at all.

 

[arakboss]

Amazing that just 2-3 years ago this guy was just a mainstream-type CPA offering financial advice. Then he took the red pill.

All of this is easier to grasp when one understands the USA is just one giant failing Corporation. Everything it does is for resource gains or more power. Your well being doesn't factor in at all.

Time for a little Degrowth?

 

[Alexx1401]

Just thinking out loud but it looks like people are moving their money from the small banks into big banks that are too big to fail. As the small banks fail the big banks will have control, probably not good for us.

From what I read it looks like the banks will set up a CCP style social credit score that will make buying guns and ammo difficult. If you believe this may be our future then buying now may help you survive.

That will not be the "banks" it will be the Fed. They would LOVE to get a US digital Currency and make all others illegal. Right now banks that are "tracking" gun sales why care? Unless someone is using plastic to buy illegal guns out of some guys trunk? The Fed's know about all your gun buys if you are buying with plastic without the banks help. If some bank wants to cut off "Joe's House of Guns" from plastic? Again who cares. Some other bank will be glad to have Joe's account.
The one thing that may hold them back here on a US controlled digital is drugs. There is HUGE money behind drugs and if we do ever go with this digital controlled by the Gov the cartels would be out. Since they have billions of dollars to spread around they will spread it with law makers if they have too. The reason the entire country of Mexico is in the shape its in is all that cash. Tell those cartels the US market is going to suddenly be off limits? Watch the flood of money coming to US law makers to not do it. May be some good from these scum yet. Shame that it may be up to them to save the law abiding from their own complacence.

 

[Alexx1401]

Doubly so when these same people are the ones that lobbied (read that "bribed" or "paid off") the .gov to have rules put in place to restrict this behavior overturned!

Of course they did, they can make money? If they can make money they pay law makers to rig the game for them. I always laugh when I see law makers scream about "tax loopholes". Of course they only point their anger at the VERY wealthy who are not supporting them but, the same law makers screaming are the ones who passed these laws. The ones they are now calling loopholes. They passed those loopholes because they were paid to do so. Can't blame them, the rubes who vote for them keep putting them back in office to "fix it" as law makers laugh up their sleeve at them.

 

[oremike]

This seems like a good place to mention the the Federal Parks system is going cashless. That chaps my tin foil hat for sure and I believe is a sign of things to come.

 

[Alexx1401]

This seems like a good place to mention the the Federal Parks system is going cashless. That chaps my tin foil hat for sure and I believe is a sign of things to come.

I take it you mean you have to use plastic for the places you pay to enter? I can see why they would. If you have a "toll booth" kind of thing you have to have cash there to make change, have to then deal with the security both from scum and from employee's who want to steal. FAR easier to just say pay with a card then they don't have to deal with cash. I am sure many "toll Roads" of different kinds will soon be no longer dealing with cash also for just this reason. FAR easier to just do it electronically.

 

[VinnieBoomBah]

Ya'll out here wringing hands over cash or cashless, free range crypto vs .gov script and I'm just chillin' like

 

[oremike]

I take it you mean you have to use plastic for the places you pay to enter? I can see why they would. If you have a "toll booth" kind of thing you have to have cash there to make change, have to then deal with the security both from scum and from employee's who want to steal. FAR easier to just say pay with a card then they don't have to deal with cash. I am sure many "toll Roads" of different kinds will soon be no longer dealing with cash also for just this reason. FAR easier to just do it electronically.

Sure, much easier, until your bank fails and/or your card quits working. Remember it's all about control.

 

[Alexx1401]

Sure, much easier, until your bank fails and/or your card quits working. Remember it's all about control.

I think we may be getting into tinfoil hat area now. Yes they if course do want control. Those in power seek more power. The park system deciding they no longer want to hassle with cash is so far down on my things to worry about its not even there. The state parks here have a pass we pay for yearly. If I went to Fed parks I would just see if they offered the same thing. I am FAR more worried about what the law makers are doing to me than the parks system maybe locking me out.

 

[VinnieBoomBah]

getting into tinfoil hat area now.

Dude . . . we passed the tinfoil hat area so long ago even MapQuest couldn't get us back!

 

[Mecanik]

From a firearms related view it would seem we should be saving brass and bullets and primers and shooting less until this all straightens out. So lets get back to talking about firearms and how it relates to the issue.

 

[Alexx1401]

From a firearms related view it would seem we should be saving brass and bullets and primers and shooting less until this all straightens out. So lets get back to talking about firearms and how it relates to the issue.

Freedom and having financial health DO have a LOT to do with firearms. The same people who are always trying to take your right to firearms are the same people trying to take your other freedoms. They all go hand in hand.

 

[ma96782]

The hazards of making ALL of the SVB depositers whole again?

SVB had almost 90% of its deposits uninsured by the FDIC.​

Bank of America has about 32% of its deposits uninsured via this US government backstop.​

This made SVB especially vulnerable to a bank run. And the cleanup could be messier than usual.​

Read more about it here.......

Silicon Valley Bank is a particularly scary failure. Here's why.

The FDIC is supposed to prevent bank runs. SVB is a special case that left most of its deposits uninsured and the bank vulnerable to a panic.

www.businessinsider.com

Aloha, Mark

PS.......BTW, what about Credit Suisse?

How Credit Suisse just unleashed a nightmare decision for the Fed and the ECB

Credit Suisse added more gas on the banking fire, exacerbating an already tough decision for central banks.

www.yahoo.com

 

[VinnieBoomBah]

SVB had almost 90% of its deposits uninsured by the FDIC.

Not enough coffee yet to read big words, but I have noticed several stories that use the words deposits and depositors when they should be using the words investor and investments