Yet Another Bank Going Down...

[Vastator]

We're starting to see a trend here...

FDIC prepares to place First Republic under receivership

News of the move came as the Fed and FDIC detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March.

www.reuters.com

 

[Vastator]

This is how the great depression began...

 

[1srelluc]

The MSM is sure keeping this one quiet.

 

[Vastator]

Feel free to keep your money in a bank folks. But as for me... Well... Ill just keep my money.

 

[Mac1958]

Well, the Fed waited almost a year too long to address inflation, so it had to spike interest rates.

Meanwhile, some banks were stupidly not hedging their bond purchases, because they didn't want to shave their profit margins.

When the banks looked at their marked-to-market assets, they knew they were fucked.

Then the public found out, and the run began.

Another example of why the financial industry needs more effective regulation.

 

[lg325]

I read about it in March copy of the Epoch Times news paper . and I was wondering why it wasn't getting more press or talked about on the boards. We maybe in for some bad times. From what the article said just bad managment is the main cause. But we have seen this over and over happen over the years.

 

[Vastator]

I read about it in last weeks copy of the Epoch Times news paper . and I was wondering why it wasn't getting more press or talked about on the boards. We maybe in for some bad times. From what the article said just bad managment is the main cause. But we have seen this over and over happen over the years.

We've seen this over, and over in the past 5 weeks...

 

[Votto]

We're starting to see a trend here...

FDIC prepares to place First Republic under receivership

News of the move came as the Fed and FDIC detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March.

www.reuters.com

Putin done it

Besides, January 6th.

 

[OhPleaseJustQuit]

Feel free to keep your money in a bank folks. But as for me... Well... Ill just keep my money.

View attachment 780687

 

[Harpy Eagle]

We've seen this over, and over in the past 5 weeks...

This is the third bank this year.

There were 4 bank failures in 2019 and none of you were running around like chicken little.

Weird.

 

[ActionJackson]

We're starting to see a trend here...

FDIC prepares to place First Republic under receivership

News of the move came as the Fed and FDIC detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March.

www.reuters.com

I cancelled all of my accounts with US Bank about a month ago and now support a local (but strong) Credit Union. I also continue to buy gold and silver each paycheck.

This picture was taken about a year ago. I've added a lot since then and have more coming:

I'm certainly not rich but it might help me get by in a pinch.

 

[ReinyDays]

Feel free to keep your money in a bank folks. But as for me... Well... Ill just keep my money.

View attachment 780687

If that's all the money you have, then you don't have to worry about any of this ...

I keep my deposits under a quarter million, so I'm insured ... enough said on the matter ...

 

[Vastator]

If that's all the money you have, then you don't have to worry about any of this ...

I keep my deposits under a quarter million, so I'm insured ... enough said on the matter ...

That's this week's acquisition. I convert ten percent of what I make in a given week, into metals... And you're right. I don't have to worry...

 

[OhPleaseJustQuit]

I cancelled all of my accounts with US Bank about a month ago and now support a local (but strong) Credit Union. I also continue to buy gold and silver each paycheck.

This picture was taken about a year ago. I've added a lot since then and have more coming:
View attachment 780693

I'm certainly not rich but it might help me get by in a pinch.

OMG! The Goldbacks are cool! I wish they were available in my state!

 

[ActionJackson]

OMG! The Goldbacks are cool! I wish they were available in my state!

When I first started getting them ... they were only available in Utah and Nevada. Then New Hampshire joined in. And recently, Wyoming jumped on board. I think the trend may continue but time will tell.

 

[Vastator]

When I first started getting them ... they were only available in Utah and Nevada. Then New Hampshire joined in. And recently, Wyoming jumped on board. I think the trend may continue but time will tell.

I just wonder how durable they would be..? How much of the content might be lost if it were handled like fiat..?

 

[Grumblenuts]

I read about it in last weeks copy of the Epoch Times news paper

Googling "Epoch Times" first hit:

The Epoch Times - Truth & Tradition. Fact Based. Unbiased ...

The Epoch Times

The Epoch Times - Truth & Tradition. Fact Based. Unbiased. Accurate News

The Epoch Times is an independent news media organization in print and online. It's rated as the most neutral among top media in an AllSides™ survey.

www.theepochtimes.com

The Epoch Times is an independent news media organization in print and online. It's {SELF}rated as the most neutral among top media in an AllSides™ survey.

Google "bias of Epoch Times"
AllSides: "Bias Rating: Lean Right"
Ad Fontes Media: "rates Epoch Times {...} skews right in terms of bias and as mixed reliability in ..."
Wikipedia: "The Epoch Times is a far-right international multi-language newspaper and media company affiliated with the Falun Gong new religious movement.
Political alignment: Far-right"
Falun Gong: "has received significant attention in the United States for promoting conspiracy theories, such as QAnon and anti-vaccine misinformation, and producing advertisements for former U.S. President Donald Trump. It has also drawn attention in Europe for promoting far-right politicians, primarily in France and Germany."

Obvious crap is crap. Might as well rot in front of a TV watching FOX noise.

 

[OhPleaseJustQuit]

When I first started getting them ... they were only available in Utah and Nevada. Then New Hampshire joined in. And recently, Wyoming jumped on board. I think the trend may continue but time will tell.

.

I wonder if it would be worth it to jump the border to Wyoming and grab some, in hopes South Dakota will accept them. I should talk to my dealer and see what he thinks of them.

.

 

[OhPleaseJustQuit]

I just wonder how durable they would be..? How much of the content might be lost if it were handled like fiat..?

.

And when it's time, how is the Au retrieved?

.

 

[ReinyDays]

That's this week's acquisition. I convert ten percent of what I make in a given week, into metals... And you're right. I don't have to worry...

Metals are an important component of any decent portfolio ... however, holding cash in a bank is considered a bad idea ... inflation risk ... stupid person with SVB held $8 million, he should only get quarter million back ... or buy an insurance policy ... it was a bad idea keeping that much money in any one bank, no matter how big, that person should lose everything ...