Yet Another Bank Going Down...

[Cellblock2429]

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

View attachment 780687

/---/ I have a supply of Canadian gold coins and a bunch of US silver coins, but it's not like you can use them to buy a gallon of milk and loaf of bread.

 

[ActionJackson]

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

They are protected by a clear and very durable vinyl. I don't expect them to ware out over time.

 

[ActionJackson]

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 ...

Not too sure I trust the "insurers." And as we saw in Canada not too long ago ... a government can simply seize your money if you don't conform to its ideology.

 

[Cellblock2429]

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

/---/ Why is Dementia Joe crashing so many banks? Doesn't he care about the little people?

Side note to democRATs: You clowns attacked Bush 24/7 for causing the 2007 bank failures, so this must all be Joe's fault.

 

[ActionJackson]

.

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

.

I believe there is a chemical process that can dissolve the gold into a liquid form then it can be reconstituted into metal again. I'm no chemist but I watch a YouTuber who works with precious metals.

https://www.youtube.com/@sreetips

 

[Vastator]

I believe there is a chemical process that can dissolve the gold into a liquid form then it can be reconstituted into metal again. I'm no chemist but I watch a YouTuber who works with precious metals.

https://www.youtube.com/@sreetips

Great channel!

 

[OhPleaseJustQuit]

/---/ I have a supply of Canadian gold coins and a bunch of US silver coins, but it's not like you can use them to buy a gallon of milk and loaf of bread.

.


CombiBars.

You can snap off a gram of gold. Today's spot for a gram of gold is about $63. Who can walk into a grocery store today and walk out for less that $63?

.

 

[OhPleaseJustQuit]

I believe there is a chemical process that can dissolve the gold into a liquid form then it can be reconstituted into metal again. I'm no chemist but I watch a YouTuber who works with precious metals.

https://www.youtube.com/@sreetips

.

Cool! Thanks for the link. This makes my Saturday morning more interesting.

.

 

[ReinyDays]

Not too sure I trust the "insurers." And as we saw in Canada not too long ago ... a government can simply seize your money if you don't conform to its ideology.

Well ... yeah ... that's Canada ... I advocate invasion, take back the territory them maple-syrup-swillin' cheats STOLE from us ... "south bank St Lawrence or death" ... but I digress ...

I hate to tell you this, but as a rule, the government owns the money ... we have to follow the government's rules if we want to use their money ... and that includes barter ... and it gets worse, charging 12.5% interest on a loan will wind you up in an Oregon prison ... talk about filthy commie over-reach ...

My question to you is where has FDIC ever failed? ...

Savings and loan crisis - Wikipedia

en.wikipedia.org

 

[lg325]

Googling "Epoch Times" first hit:

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. I have read articles both pro and anti vax . They seem to cover both side of the issues. The Life and Tradition section is good. The mind and body sction does seem to have alot of articles alternative medicines. Conservative leaning on the opinion page but I wouldn't call the paper extremist. Slanted news I get in all news sources these dyas. From local new and NPR which I have listned to since a boy. I just lisen to it all and pick out the propaganda and look for facts,

 

[Harpy Eagle]

Side note to democRATs: You clowns attacked Bush 24/7 for causing the 2007 bank failures, so this must all be Joe's fault.

All 3 of the bank failures in 2007?

 

[Harpy Eagle]

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.

If the economy collapses and money is worthless, why would any of these things hold any value?

You would be far better served stock piling things you can use and things you can barter for other goods. Food, ammo, medical supplies, etc.

 

[leftwinger]

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.

SHUP you damn clown. The magic negro fixed it all in 2008 during the last crisis they created to seize power. Nothing can happen again? Right? You sick twisted phony POS.

 

[Votto]

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.

Conservatives states need their own currency that the Democrat controlled Federal government cannot devalue.

 

[Mac1958]

SHUP you damn clown. The magic negro fixed it all in 2008 during the last crisis they created to seize power. Nothing can happen again? Right? You sick twisted phony POS.

My profession for 22+ years. You are just another ignorant Trumpster.

<flick>

 

[Manonthestreet]

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 ...

When it's worthless doesn't matter how much of the paper you have

 

[Vastator]

Even the National Debt Clock tracks how increasingly worth less, the USD is becoming in relation to metals.

https://www.usdebtclock.org/index.html?taxpayer

 

[ReinyDays]

When it's worthless doesn't matter how much of the paper you have

My local markets support the paper ... glad to be rid of the national overhead ... a carpenter with tools builds homes, seriously, I've built additions with plans drawn on cocktail napkins ... all the paper I need ...

 

[John Edgar Slow Horses]

This is how the great depression began...

Not quite. There has been no ripple effect, other than a minor tightening of loans in the regional banks. The super banks and the local insitutitions are solid.

 

[John Edgar Slow Horses]

SHUP you damn clown. The magic negro fixed it all in 2008 during the last crisis they created to seize power. Nothing can happen again? Right? You sick twisted phony POS.

The the magic tangerino mishandled covid, blew the Obama recovery, so we had to have the Biden recovery. Our portfolio, properties, bonds, and deposits have done well.

Just pay attention and not be hooked on personalities and uber politics.