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Serious Bank Trouble???

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8.8K views 103 replies 25 participants last post by  chevman57  
#1 ·
I see the FDIC took over SVB in California. I believe they are one of the top 5 banks in the U.S. This hasn't happened since the financial problems of 2008. Are we heading for another crash? Looks like our Classic cars, gold, silver and guns have outperformed the money markets again. Have our Tri-fives become exempt from financial chaos? Maybe it will make us look like we are actually smart??? Probably not :)
 
#2 ·
You may have a good point. Banks pushing the diversity thing making loans KNOWING there's a huge chance they will be defaulted is NOT good business. Doesn't help with the fed raising interest rates in the name of reducing inflation which we know doesn't work doesn't bode well.
 
Z
#3 ·
With the higher interest rates and big $$$ commercial purchases (as advertised on TV) are causing price bidding on those lower priced home loans for lower priced residences by lower income folks are in decline. Those folks are being priced out and unable to get loans.
 
#7 ·
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.
 
#10 · (Edited by Moderator)
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.
 
#13 ·
brucegasque said:
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)....WE ARE F$CKED!!.

Yesterday in Iowa, Moron Nikki Hailey(running to become our new president)......suggested that the retirement age should be raised and Social Security should be "adjusted". What an idiot. She thinks SS is an entitlement program...not a benefit that we have paid into all our lives...to receive the benefit when we retire. Why not talk about all the Senators and Congressmen that "stole" the money from SS...so that they could line their pockets with "our" money.

I could go on and on...but enough for no.
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actually SS is the ONLY entitlement. We put our money into the system and therefore entitled to OUR money. welfare troughs are NOT entitlements as the recipients never contributed even in part to what they receive.
 
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#91 ·
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.
 
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#15 ·
43/4% is easy today but that doesn't turn me on much either. So I put $100K in a CD for 1 year to get back $105000(5%) then the govt takes $3k or so of that $5, not excited to run out and do so. And I definitely don't trust the stock market any more
 
#17 ·
My greatest fear in this current cluster of crap is the insane belief people place in social media. Given the right collection of talented media terrorists any and all kind of nonsense can get people stirred up to start making bank runs. If that starts and herd mentality takes over the system could be pointlessly brought down. Any number of foreign disinformation agents (Russia, China) or crap from home bred conspiracy groups could destroy us pointlessly. I have no solutions to offer, just my own ideas on what might work best for me and my family and hopefully by extension my country. But social medias ability to spin out lies and fear...that scares me big time.
 
#67 · (Edited)
Agree. "Cable TV "Entertainment News shows vastly exploit, manipulate and exaggerate happenings in order to draw in more viewers, and increase advertisement/commercial rates. Sticking to your local network news shows, and possibly PBS, and avoiding any and all un-monitored Social Media outlets will help to eliminate the misinformation, repatitous Cult Propaganda Talking Points and exaggeration / exploitation that rots the mind.

One of the negative realities of the "Internet" is that anyone can now search for, and find, someone who agrees with their wild and dangerous theories. Cable Entertainment News has taken this cherry picking to the extreme.

In other words, stick with TriFive !!!!! 😃
 
#22 ·
All Federal Reserve Banks raise rates. based on orders from the Federal Reserve Board in DC.
The FED was late to the party this time, in raising rates. All the 12 Federal Reserve Bank in the US have
so much data to study....daily. The largest dept at every FED bank is the research dept. Most all Fed Bank presidents
come out of the reach depts(I spent my working life at the Boston Fed).....so that have all the economic indicators, long before the Treasury dept gets that data.

THe FED should have started raising rates at 25 basis points(,25%) much erlier than they did. The large job data increase in January sent then back into a panic.
 
#20 ·
Most people like myself realized we've been taken advantage of by our local banks when we see online banks and the treasury offering rates we can't resist. All these banks are fighting for cash to boost their reserves. All those withdrawals were a shock to the banks who never guessed it could happen.
 
#28 ·
DZAUTO said:
I have no answer.
BUUUUUUUT, I'm retired, get SS and a monthly federal retirement (civilian employee for USAF).
So, for supplemental income, I do some mechanical work such as rebuilding/restoring Rochester FI units, 4spds (mostly Muncies), early rearends, some engines building, early Corvette front cross members/suspensions. AND I TELL THE CUSTOMER UP FRONT THAT I WANT CASH! No problem there.
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really nice work that your are doing!! In regards to my posting yesterday....The front page of todays New York Times read where the Chinese have just brokered a peace agreement between Saudii Arabia and Iran. For 8 years, Iran has paid for fighting between the rebels in Yeman and the Saudi's which cost the Saudi's much money, security issues...and lives.

The USA was left complely out of this agreement and I posted facts yesterday, as to how all countries(until now) have tp purchase oil in US dollars. China has been trying for some time to get countries to buy oil, paying in Yuan!

Well guess what........See the above and onl imagine what could happen now!!

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#51 ·
I see that the government has decided to guarantee all deposits in SVB, even those above the 250,00 that NFIC covers. How is this not a bailout, I think this may become a problem. Obviously the government is oblivious that it is OUR money they are making these guarantees with. :(
 
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