Where did you hear this? What banks?

 

On TND. and News Nation, One is Signature Bank, I believe New York based, the other is First Interstate, but on that one I may be wrong on the name as it is a bit noisy here in the truck.

 

First Interstate has multiple branches near where I live. If that's true, giddy-up!

 

Wouldn't doubt it. The plan is to make cash obsolete and to usher in some type of digital currency. It's been the goal for years to move to a "cashless society." Folks who warned of a cashless society used to be called "conspiracy theorists" but we're seeing everything unfold before our eyes.

So I'm in the process of buying gold, silver, guns, ammo, food, and other useful items before my cash becomes useless and obsolete. Am I jumping the gun? Maybe or maybe not.

 

Wouldn't doubt it. The plan is to make cash obsolete and to usher in some type of digital currency. It's been the goal for years to move to a "cashless society." Folks who warned of a cashless society used to be called "conspiracy theorists" but we're seeing everything unfold before our eyes.

So I'm in the process of buying gold, silver, guns, ammo, food, another useful items before my cash becomes useless and obsolete. Am I jumping the gun? Maybe or maybe not.

In my educated opinion, absolutely not! Guns, Ammo, and food will be critical for survival the way we're headed. If someone stocked up on reloading supplies before the china virus then you've got a good investment already. All the things you mention are not dropping much in price. Especially food. If you have food and precious metals you need the rest to keep them.

 

Looks like you're correct about Signature Bank :

Bank Crisis: Bank Rally Slows; Moody's Targets These Banks For Downgrades

Financial rally turns mixed Tuesday; Moody's targets six banks for ratings downgrades.

www.investors.com

 

Looks like you're correct about Signature Bank :

Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC | U.S. Department of the Treasury

.02
jd

 

In 2017 8 banks collapsed, in 2019 4 banks and 2020 4 more banks collapsed. It’s not that rare.

 

2009 140 banks
2010 157 banks

 

Were those banks the 2nd and 3rd largest bank in the US? Cause the two that just failed were.

 

The second and third largest US banks would be BOA and Citi, did they just collapsed?

 

Turn back your clocks to 1929.

 

Expand your gardens and sharpen your fishing and hunting skills . Learn to cook at home and buy bulk for cooking.

 

This is good advice no matter what is happening in the world.

 

Probably banks that went full bore on esg like the Silicon Valley bank.

 

One of them was Silicon Valley Bank.

 

 

I am so stealing this.

 

I was told (friend/ colleague) thats in the know in financial sector and stated that currently 19 banks are projected to fail and on the "watch list". I don't know which or the validity of the statement but not surprised. The banking system is a fragile environment

 

Hmmmmmmm....three banks now, all doing most of their business in leftist areas of influence.

Coincidence?

 

Hmmmmmmm....three banks now, all doing most of their business in leftist areas of infuluence.

Coincidence?

Coincidence that most of the banks located where most of the people live?

 

You think when svb was hemmoraging money it was in the form of cash?

 

I know my bank was bought out but a bigger chain last year. I know one bank in the town I live in was bought out, I think the other may have been or is being bought out. The ones in town are small. But happy State Banks are all over the Texas panhandle.

 

I'm moving my money from the bank I've been with for many years to a very strong credit union here in town. Been meaning to do this for some time now.,

 

What are you? Slow?

 

Trading in financials has been halted for the day, as some banking stocks literally lost 80%+ of their value in half an hour.

Yes, this was due to a bank run and policies of the fed increasing interest rates.

On the 22nd of this month the FED was going to have a meeting to raise interest rates another .5%.

I'm sure that will be off the table now. Many of these banks had money in bonds which had not met maturity, they could not cover the withdrawls in available cash, so they had to sell bonds at a huge loss to cover.

No worries, the FED WILL once again save the banks at your expense. All stockholders will lose everything, rich banksters will be paid off by us.

At some of these banks 98% of deposits exceed FDIC insurance...meaning any depositor such as large businesses with over 250 grand in the bank would not be covered for losses exceeding that amount.

But I guarantee you Biden will find a way to get joe drywaller and your local mechanic to cover the uninsured expenses. The banks/hedge funds own this country.

 

When some of our biggest companies ( GM ) and banks ( B of A and Wells Fargo) were circling the drain back in 2008 sitting President Obama threw them a life preserver in the form of a gov't loan with interest and serious requirements / strings attached - which they have all paid back including interest. Because it was in the country's best interest to not let these colossal institutions crash and burn the US economy into ash. It worked.

Lots of people like to trash Obama on this forum, but I would say it was one thing Obama did that I totally and completely agree with. I was there when the housing bubble popped - it affected my directly.

Banks have been through some serious regulatory overhauls as to what loans they are now allowed to issue. And yeah, it's nowhere near as loosey-goosey as their 2008 requirements.

I'll also add that Ford didn't get bailed out. They made it on their own and didn't need it as badly as GM. And I have a pile of respect for Ford Motor Company because of that.

 

When some of our biggest companies ( GM ) and banks ( B of A and Wells Fargo) were circling the drain back in 2008 sitting President Obama threw them a life preserver in the form of a gov't loan with interest and serious requirements / strings attached - which they have all paid back including interest. Because it was in the country's best interest to not let these colossal institutions crash and burn the US economy into ash. It worked.

Lots of people like to trash Obama on this forum, but I would say it was one thing Obama did that I totally and completely agree with. I was there when the housing bubble popped - it affected my directly.

Banks have been through some serious regulatory overhauls as to what loans they are now allowed to issue. And yeah, it's nowhere near as loosey-goosey as their 2008 requirements.

I'll also add that Ford didn't get bailed out. They made it on their own and didn't need it as badly as GM. And I have a pile of respect for Ford Motor Company because of that.

The problem with that is that it short circuits "survival of the fittest"

Would it be a rough year when XYZ bank "is allowed to fail"?
Yes.

But a more efficient shark would eat the old one.
One that does better business practices, swims faster and so fourth.

We GET "Too big to fail" by privatizing profits, and the public (taxpayers) eating the losses.

This guarantees over a long enough timeline that not only will a collapse happen ("feeding the bears" makes them lazy. When you support your kid or your bankers poor choices they do not suffer the consequences, and have no motivation not to screw up more.)
So not only will it be more certain, but it will be bigger.

The politicians like this because they just want it not to happen when they are in office.

I do not believe the unavoidable consequences of the series of bad choices will be felt this year.
But when it does it will be exponentially more painful as a consequence of "kick the can" philosophy.

 

...I wonder how the banks in Ukraine are fairing........

 

As long as the Fed is printing money and Xi-den is in office they should be fine.

 

NavyFed for my day to day and a bit more.

 

Harborstone Here.

 

I cannot even fathom the amount of money being wantonly tossed around.

 

 

It’ll be fine. Relax.

 

The banks and corporations got their hands slapped - hard when the Federal Government gave them specific loan terms - basically - NO ! You aren't going to be allowed to play fast and loose w/ customers stockholders millions/ billions anymore - the frat party is over. Time to shape up.

Two years prior to this Bush was on TV and in many public speeches saying how lower income Americans can afford these (ludicrous) mortgage loans all the while they were being bundled and sold as toxic. He was touting over and over these subprime loans. Was folly then and is still ridiculous today.

This is all just history now.

Today I'm seeing Biden making comments about how this isn't an epidemic - it's a few local banks that have been routed.

It really reminds me that it doesn't take very many bank customers to withdraw their funds all at once to make a bank fail - it only takes 10% of their customer base. Think about that !

 

It really reminds me that it doesn't take very many bank customers to withdraw their funds all at once to make a bank fail - it only takes 10% of their customer base. Think about that !

I don't know that it even takes 10%. In March of 2020, the Fed removed all reserve requirements for commercial banks. From the Federal Reserve's press release on March 15, 2020...

In light of the shift to an ample reserves regime, the Board has reduced reserve requirement ratios to zero percent effective on March 26, the beginning of the next reserve maintenance period. This action eliminates reserve requirements for thousands of depository institutions and will help to support lending to households and businesses.

It's almost like they are begging for a complete collapse.

 

Did I hear wrong! 2 more small banks perched on the edge and may soon fail? PLEASE correct me if I am wrong with real time information.

It ws not First Interstate BUT First Republic, so I did hear that wrong, THX for the correction.

 

Meanwhile.....the left is blaming Trump.