No banks are safe (bail ins, FDIC limits, systemic risks)

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

Sounds to me like a Controlled Demolition...

I stand by my assertion. The CBDC is economic collapse.

Maybe it's not a bad thing. It'll be several years of Hell; but we knew that was coming, anyway.
 
That's obvious, and to be expected.

Banks act on their own interests - the interests of their controlling bankster-managers.

And those interests seldom align with those of small depositors.

Banks do enough business with small depositors to keep up the facade, and to keep the Little People roped into the system...but they will NOT extend the forbearance and assistance they give to their favored fellow Elites.
 
pmbug said:
That's the kind of warm fuzzies that helps people and businesses with uninsured deposits sleep well at night!
Click to expand...

Voodoo said:
The local US Bank had new CD signs paying over 4%, more than US Treasuries. Their stock also tanked Friday. This is gonna be ugly.
Click to expand...


Lucky for me I have no $$$ to put in any bank or CU. Being broke has it's advantages!



empty-pockets.jpg
 
Trouble, what trouble?

FrnYV-VXsAQzixd


 
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.

To improve the swap lines' effectiveness in providing U.S. dollar funding, the central banks currently offering U.S. dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily. These daily operations will commence on Monday, March 20, 2023, and will continue at least through the end of April.
...
Click to expand...

Coordinated central bank action to enhance the provision of U.S. dollar liquidity

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a
www.federalreserve.gov
 

Free Money Turned Brains to Mush. Now Some Banks Fail​

 

Study finds 186 banks vulnerable to SVB-like collapse​

The study created a scenario where half of 186 banks' depositors withdrew their funds​

A new study says that, depending on certain market conditions, nearly 200 U.S. banks could be vulnerable to the same fate as Silicon Valley Bank (SVB).

A recent Social Science Research Network study suggests that 186 American banks could fail if half of their depositors suddenly withdrew their funds. The researchers formulated a speculative scenario in which each bank experienced a run, and concluded that the FDIC would run out of money.

The study was published shortly after the collapse of SVB, the worst American financial institution failure since 2008.

"Our calculations suggest these banks are certainly at a potential risk of a run, absent other government intervention or recapitalization," the economists wrote.


more
www.foxbusiness.com

Study finds 186 banks vulnerable to SVB-like collapse

A Social Science Research Network study says that 186 American banks could be vulnerable to the same failure as Silicon Valley Bank (SVB) if half of their depositors withdraw money.
www.foxbusiness.com www.foxbusiness.com
 
According to ZeroHedge, the FDIC has just - by edict - declared ALL bank accounts are insured in any amount.

Banana Republic time.

Also, party time for Woketard (slur for sexual deviate) bankers. We'll see more Risk Managers who spend all their time cross-dressing or preaching "equity" - while their banks collapse.

Money-printer go "brrrrrrr...."
 
PacWest Bancorp is moving to shore up liquidity to protect itself after customers pulled 20% of their deposits since the start of the year.

The regional bank, whose shares have tumbled 58% this month, obtained $1.4 billion from a financing facility from Apollo Global Management-owned investment firm Atlas SP Partners and abandoned a separate push to raise capital because of market volatility, it said in a statement Wednesday.
...
PacWest has already borrowed $3.7 billion from the Federal Home Loan Bank System, $10.5 billion from the Federal Reserve’s discount window, and $2.1 billion from the bank term funding program as of March 20. The bank cited those liquidity-enhancing measures in deciding not to proceed with the separate effort to raise money. ...
Click to expand...

www.bloomberg.com

PacWest Bolsters Liquidity After Clients Pull 20% of Deposits

PacWest Bancorp is moving to shore up liquidity to protect itself after customers pulled 20% of their deposits since the start of the year.
www.bloomberg.com www.bloomberg.com
 
Casey Jones said:
According to ZeroHedge, the FDIC has just - by edict - declared ALL bank accounts are insured in any amount.

Banana Republic time.

Also, party time for Woketard (slur for sexual deviate) bankers. We'll see more Risk Managers who spend all their time cross-dressing or preaching "equity" - while their banks collapse.

Money-printer go "brrrrrrr...."
Click to expand...
Meaning... they peered over the SVB cliff into the abyss....
 
Joe Biden says our banking system is safe and sound...

 
Bidet doesn't know what a bank even IS, anymore.

He's just reading what Susan Rice put on the TelePrompTer.
 
Re: Yellen / FSOC:
...
The meeting was to be closed to the public, the Treasury Department said in a statement. The Treasury didn't say what time the meeting would begin, and it wasn't immediately clear whether the council would issue a statement following the meeting. ...
...
The FSOC's members include the heads of the Federal Reserve, the Federal Deposit Insurance Corp., and several other regulatory agencies. It has little legal authority but serves as a coordinating forum....
Click to expand...

Yellen calls stability council meeting amid banking-sector turmoil | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market

gata.org gata.org
 
Controlled demolition time.

This is to get that CBDC set up, NOW.

This summer, at latest.

They're in a hurry, now...
 
This guy is definitely not a glass half full kind of guy....

Financial crashes like revolutions are impossible until they are inevitable. They typically proceed in stages. Since central banks began to increase interest rates in response to rising inflation, financial markets have been under pressure.
...
While it is too early to say whether a full-fledged financial crisis is imminent, the trajectory is unpromising.
...
Click to expand...

More (very long):

Das: Is A Full-Blown Global Banking Crisis In The Offing? | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
 
Regulators again assured the public that the banking system is safe, as fresh data showed customers recently pulled nearly $100 billion in deposits.

Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell and more than a dozen other officials convened a special closed meeting of the Financial Stability Oversight Council on Friday.

A readout from the session indicated that a New York Fed staff member briefed the group on "market developments."

"The Council discussed current conditions in the banking sector and noted that while some institutions have come under stress, the U.S. banking system remains sound and resilient," the statement said. "The Council also discussed ongoing efforts at member agencies to monitor financial developments."

There were no other details provided on the meeting.

The readout, released shortly after the market closed Friday, came around the same time as new Fed data showed that bank customers collectively pulled $98.4 billion from accounts for the week ended March 15.

That would have covered the period when the sudden failures of Silicon Valley Bank and Signature Bank rocked the industry.

Data show that the bulk of the money came from small banks. Large institutions saw deposits increase by $67 billion, while smaller banks saw outflows of $120 billion.

The withdrawals brought total deposits down to just over $17.5 trillion and represented about 0.6% of the total. Deposits have been on a steady decline over the past year or so, falling $582.4 billion since February 2022, according to the Fed data released Friday.

Money market mutual funds have seen assets rise over the past two weeks, up $203 billion to $3.27 trillion, according to Investment Company Institute data through March 22.
...
Click to expand...

www.cnbc.com

Nearly $100 billion in deposits pulled from banks; officials call system 'sound and resilient'

Regulators again assured the public that the system is safe, as data showed customers pulled nearly $100 billion in deposits.
www.cnbc.com www.cnbc.com

Currency in circulation12 2,314,492
Click to expand...


Total bank deposits at 17.5 trillion versus 2.3 trillion in physical (paper/coin) currency (the bulk of which is likely actually $100 bills held overseas). Fractional reserve banking is a hell of a drug! Onward cashless society!
 
12 states have changed their legal stance toward gold. Some states are (*gasp*) actually stacking. Others, like Kentucky, now have removed all tax penalties for gold trades.

It is habbening.
 
The question is, is it a good thing or a bad thing?

Some signs and moves point to Controlled Demolition - to force FedCoin on the mAsses.

Now, I have said - and still hold - that CBDCs won't work. The hyper-controls that limit/remove individual choice and liberty, destroy human motivation; and the whole economy will crash.

But it takes time to get there. Time, and a LOT of suffering. So if this is to force-feed us FedCoin with its algorithms...not good.

In fact it's SHTF time.
 
Actually, I don't see the "problem". You have digits for money and you want a piece of paper instead.
Don't the digits in your bank account represent money?
So if they erase your digits and print your money where is the loss/gain?
I don't want to pack around a couple thousands bucks, I'd rather use a piece of plastic.

JMSO,
BF
 
Bottom Feeder said:
Actually, I don't see the "problem". You have digits for money and you want a piece of paper instead.
Don't the digits in your bank account represent money?
So if they erase your digits and print your money where is the loss/gain?
I don't want to pack around a couple thousands bucks, I'd rather use a piece of plastic.

JMSO,
BF
Click to expand...
...aaannnd, when you go to buy something from someone and discover you are not allowed to buy it or cannot buy it because the seller has a clamp put on his digital money. <-- You must have 3rd Party** Approval from the Controller of the Currency to buy anything at any time anywhere.

**Big Brother And His Trusty Infallible Accountant

You cannot reach in your pocket to buy that neato rifle from the guy you bumped into at the yard sale if you have to pull out a Third Party Overseer Clearance Request rather than hand the guy some anonymous Franklins.

I see a galactic difference. Mercury and Pluto. Moon and Earth. Private enterprise vs Big Brother.

Did you see the arm-stamp thing in that video where the two idiots are all a-twitter for being able to scan their arms to purchase something?
 
It was group think where the establishment believed ZIRP would last forever and negative interest rates were coming. They bought 30 year bonds that pay no interest thinking they could trade out of them when rates went negative.

They got suckered because the FED like most other government agencies turned into a political machine where a liberal agenda took precedence over common sense and a sound financial system. The people who work in government want to be in their private club and get paid for doing nothing.
 
Last edited:
Unca Walt said:
when you go to buy something from someone and discover you are not allowed to buy it
Click to expand...
Unh, actually I was addressing peoples moving their money out of banks and into cash.
You are addressing an imaginary situation where everything is digital and there is no paper notes — correct?
I am not a proponent of CBDC, I don't it's feasible to entirely eliminate paper notes.
 
Bottom Feeder said:
Actually, I don't see the "problem". You have digits for money and you want a piece of paper instead.
Don't the digits in your bank account represent money?
So if they erase your digits and print your money where is the loss/gain?
I don't want to pack around a couple thousands bucks, I'd rather use a piece of plastic.

JMSO,
BF
Click to expand...
Just wait til they start saying they're getting rid of paper because 'plastic' will save the forests...
 
What's going on here, is that things that have been obvious to a few, are slowly becoming obvious to many.
 
I am seeing lots more media talk about holding physical gold. Nobody is buying the BS and confidence is the only thing keeping the system alive at this point.
 
You must log in or register to reply here.
Back
Top Bottom