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

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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.
 
That's the kind of warm fuzzies that helps people and businesses with uninsured deposits sleep well at night!

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.


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



 

 

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
 
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...."
 

 
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:
 
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....


More (very long):

 


Currency in circulation12 2,314,492


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
 
...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.
 
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when you go to buy something from someone and discover you are not allowed to buy it
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.
 
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.
 
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