[chevman57]

In case one of us is confused, I was agreeing that this is the place for this discussion.

not confused---was agreeing with you and my reasoning. I know political discussions are a no no but with the current things happening it's very difficult not to steer into politics of the situation.
[/QUOTE]
But posting politics will get the thread shut down,quickly.
Terry

 

[Shadetree55]

not confused---was agreeing with you and my reasoning. I know political discussions are a no no but with the current things happening it's very difficult not to steer into politics of the situation.

But posting politics will get the thread shut down,quickly.
Terry
[/QUOTE]
and I fully understand that and you'll notice I try my best to steer away from it. Some topics are inevitably going to go there sooner or later. I'll totally bow out of this thread. I have bigger fish to fry.

 

[TheProphet]

They aren't any different than the cable news.

What facts or background information allow you to you state that?

The FTC (Federal Trade Commission) regulates Network News outlets for accuracy and truth, but it does not regulate Cable News Outlets, nor Social Media, which is why it is better to rely on Network News as opposed to Cable News if one is seeking truth and accuracy.

FYI, "Network" news is ABC, NBC, CBS, etc. If you are stating a personal opinion, you have every right to, but if you are attempting to state a fact, you are respectfully incorrect.

 

[TheProphet]

Unlike the "woke" directors of SVB, that small community bank in fly-over country might have directors with some sense that actually pay attention to their bank's business.

The money that's covering the deposits above $250k at SVB and the other failed banks is NOT coming from FDIC anyway. And in fact SVB isn't technically "failing" - someone is going to buy it.

Obviously. you do not know the actual definition of "Woke", and/or what it means. You can look it up by searching for it.

For now, you are informing us that SVB was aware of the negative aspects of racism, and that is why they failed? That is nonsense.

Look it up.

 

[davidc]

What facts or background information allow you to you state that?

The FTC (Federal Trade Commission) regulates Network News outlets for accuracy and truth, but it does not regulate Cable News Outlets, nor Social Media, which is why it is better to rely on Network News as opposed to Cable News if one is seeking truth and accuracy.

FYI, "Network" news is ABC, NBC, CBS, etc. If you are stating a personal opinion, you have every right to, but if you are attempting to state a fact, you are respectfully incorrect.

LOFLMAO.....

 

[Rick_L]

FYI, "Network" news is ABC, NBC, CBS, etc. If you are stating a personal opinion, you have every right to, but if you are attempting to state a fact, you are respectfully incorrect.

I think it's pretty obvious that the network news is full of inaccuracy, as well as just ignoring some topics. Documented too, but maybe you choose to ignore those sources.

 

[Rick_L]

For now, you are informing us that SVB was aware of the negative aspects of racism, and that is why they failed? That is nonsense.

One reason they failed was their eyes and actions weren't on business but on other topics.

 

[zookpr]

One reason they failed was their eyes and actions weren't on business but on other topics.

Greed!

 

[Mike52pan]

I emptied my savings account and put the money in the safe. Paying .025% interest on my money and loaning it out at anywhere from 7-14% is BS. Also my bank doing a huge remodel and hanging chandeliers from the ceiling and closing down teller windows down to 2 from 6. I walked in and told them I wanted to close my account and was asked why. I pointed out the extravagant remodel and loss of services at teller windows and the fact of their low interest paid but if I needed a loan I would be borrowing my own money back at an exorbitant rate. Basically only reason I need a bank is to have a place for my SS and VA to be deposited. I never write a check.

I’ve been telling my friends to buy anything they needed or wanted if they have the money, while our currency is still worth something. I’ve been anguishing over parts for an engine build, heads, EFI system, valve train components and other parts that add up fast. I’ve decided to go ahead and buy everything I need for my build while I can. I’m afraid our currency will become as worthless as a pinch of wild monkey scat.

 

[dream66]

The reason for inflation is demand for goods exceeding the supply. So you are advising your friends to increase demand which further exacerbates the imbalance.
How does that enhance the value of your currency.
Totally absurd perspective.

 

[Mike52pan]

16th largest bank, over 200 billion in assets, trouble for a month or more, investors made an appr. 40 billion run on the bank....bank needed cash, tried to raise 2 billion, sold their bond portfolio, most likely for pennies on the dollar, due to the interest rate increases. Stock holders made 2 runs on the market twice this week, So there goes that asset.

The things folks don't understand(I was a banker in another life) is that with one bank, the FDIC will cover the account up to 250K(funds available by monday)...but if a whole bunch of banks have the same problem, at the same time....it could be 1929 all over again! The FDIC will not have enough money to cover a major bank collapse.

Do you think that our government wants to talk about this? The Treasury Department, Bank regulators or anyone else?

Bottom line is until the Federal Reserve(my former employer) perfects their own version of bitcoin...and they are, to better control all our spending...we still need banks.

Based on price, buy some 1 oz silver bars to take to the store to buy groceries. Everyone says "buy" gold...but do you want to bring a $2000 1 oz gold bar to the store to buy a loaf of bread and a 6 pack or Bud Light?

Finally, get some cash out of the bank(store it in your mattress or somewhere). Folks may still accept cash after a bank collapse...until it turns out like the currency of the South after the civil war. Also, get your important documents out of your bank safe deposit box, buy a fireproof gun safe.....and store all those documents in there with your guns!!

Asking why? Because if the banking system collapses, you will never get back into your bank ever again.

Why would there be a bank collapse? Guess what folks. Most all of our Treasury notes, bonds and bilsl are purchasing by foreign nations. Look at out horrible debt load in this country. Our treasury sales finance much of our deficit spending. Most everywhere, oil can only be purchased in US dollars. Ever since Nixon took us off the gold standard in 1970, that is how oil had been purchased. So many dollars for the USA. If countries no longer wish to pay for oil in dollars(China is current working to do this)...[Edited by admin for language, by chevman57]

[Edited by admin for political language, by chevman57]

I could go on and on...but enough for no.

Agree on buying silver in 1 ounce increments for a worse case scenario and I would recommend buying silver rounds instead of coins. In a worse case scenario merchants will be more concerned with the weight and purity of the silver than if it’s a silver coin. Of course all the silver merchants are now selling way over spot and buying back under spot. My father in law was in Korea when that country went into hyperinflation and told us you could push a wheelbarrow full of paper currency of the highest denominations into a grocery store and not be able to buy a loaf of bread, but if you had a silver dime you could buy all the stock on the shelves and the building too. I’m sure he was exaggerating, but he did say money was blowing down the street and people wouldn’t bother to pick it up.

 

[Mike52pan]

The reason for inflation is demand for goods exceeding the supply. So you are advising your friends to increase demand which further exacerbates the imbalance.
How does that enhance the value of your currency.
Totally absurd perspective.

I understand what you’re saying, but I plan on buying what I want with MY money while I can. You do as you please with your money and I hope more banks don’t fail and our money holds its value. Maybe instead of lecturing me on economics you should lecture the current administration, they could use the help way more than myself.

 

[dream66]

What do you propose they do? Drink bleach?

 

[Mike52pan]

What do you propose they do? Drink bleach?

No they should take a shower with their daughter

 

[Shadetree55]

and to think, we're all adults here??

 

[TheProphet]

I think it's pretty obvious that the network news is full of inaccuracy, as well as just ignoring some topics. Documented too, but maybe you choose to ignore those sources.

Any chance you might enlighten all of us with that " Documented" information?

"Documented" meaning: Facts, backed up by actual research and study, not some cherry picked individuals opinion.

 

[dream66]

Alex Jones documented it and Tucker......oh nevermind.

 

[brucegasque]

Agree on buying silver in 1 ounce increments for a worse case scenario and I would recommend buying silver rounds instead of coins. In a worse case scenario merchants will be more concerned with the weight and purity of the silver than if it’s a silver coin. Of course all the silver merchants are now selling way over spot and buying back under spot. My father in law was in Korea when that country went into hyperinflation and told us you could push a wheelbarrow full of paper currency of the highest denominations into a grocery store and not be able to buy a loaf of bread, but if you had a silver dime you could buy all the stock on the shelves and the building too. I’m sure he was exaggerating, but he did say money was blowing down the street and people wouldn’t bother to pick it up.

I purchase my silver in 1 oz bars(with very good purity). I never plan to sell it back to a merchant. Only to use them to buys goods...in case of an emergency.

 

[Mike52pan]

I purchase my silver in 1 oz bars(with very good purity). I never plan to sell it back to a merchant. Only to use them to buys goods...in case of an emergency.

Same here , we bought silver as a hedge against a worse case scenario. I think it would be hard and dangerous to try making a profit selling precious metals.

 

[zookpr]

As well as trying to buy any goods especially if the items are not car parts but are items needed by everyone. Like Black Friday at Walmart on steroids.