OT: ext...
- Thread starter Jaemekon
- Start date
They are the real victims. We should feel bad that they have to resort to crime.
Eventually, people will come to the realization the money they have in banks is not their money. Once the regional banks start to lose even more money, your deposits will be the first thing they grab.
Banks used to be leveraged 3-4 to one, now it's mainly 25-30 to one. Anytime, the Fed raises rates many other things will begin to break.
Even the 3-month T Bills are at almost the discount rate which will eventually force the Fed to cut, and the fireworks start.
Let's say Nikki comes into my bank and deposits $ 5,000.00. Because of fractional reserve banking, as the banker, I then loan $ 2,500.00 to Tampa Bay on a 2-year note, and the other $ 2,000.00 to Jaemekon on a one-year note.
3 months later the market totally melts down (as will happen in mid-May-early June this year), how does the bank recover that money they loaned?
Eventually, people will come
Not giving any advice here, but my wife and I have been pulling our money out of the bank for the last 2 years.
The M2 money supply went negative year over year for only the 5th time in history since 1868. The last time was 1930 and I know most are familiar with what it may have been like at that time. This meltdown will be beyond anyone's control and a financial panic is due to unfold.
Since inflation is the failure of the dollar due to the government, they will then introduce the CBDC. Welcome to the Digital Gulag.
At a point, the Federal Reserve will have a choice to save either the financial system or the dollar. It can do one or the other. Without question, the dollar will have to go.
We're fortunate to own our home, and cars and be debt free, so after we pay utilities, cable, phone, and security system we just take all but about $200.00 that we leave in for incidentals.
We don't accumulate a great deal of cash, rather we purchase items that we either need or could need in the future. No doubt, the longer you hold the cash, the less purchasing power it has.
Others have a completely different situation, so it behooves them to do as best fits their individual situation.
If the bank goes belly up and wants to keep our couple hundred bucks, they can have at it.
I think I need to stop watching this ****. Im told this stuff happens all the time as if its something we're just supposed to accept and be good with. Poke your head back into the sand and be okay with it all.
And all I know is.....
Its F'n insanity.
And all I know is.....
Its F'n insanity.
She's had problems before. Youre either insane and loving it, ignoring the insanity that surrounds you(and creeps in) or you have mental strength of steel.
OMG that is beyond terrible.....but i'll allow it cause she's adorable and i'd start a fight with her just for the angry sex that would follow.
I forget that I don't post all those things here anymore sometimes.
....Step 1. Verbal admonition. (Excuses and re-inventing history are rarely posted on this part of the forum).I forget that I don't post all those things here anymore sometimes.
.....Step 2. At least 1 of every 10 Twitter feeds should be feel-good stories like Biden's family business of 40 years specializing in influence peddling.
.....Step 3. Posts from the personal Jaemekon Twitter account designed to inspire this crowd. (Or make us laugh, one or the other).
I'm satisfied you took it seriously. lol Looks like douchebag doesn't understand our dynamic. lol