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Are the Banks in trouble again?
- Thread starter culater
- Start date
so last year was record amount of Luxury car Repos, aka cars over 100k and super cars..that usually will roll down hill to normal consumers,. and looks like mortgages might be coming as well since high end houses are not selling
The only way it all gets fixed is a complete burn down. However as soon as recovery from that starts, they will go down the same roads again.
Glenn Beck has become an unmitigated blithering idiot IMO which is a shame b/c when he was on TV he was one of my favorites he had such great insight and relevance. He's since lost his marbles, but I'm sure you know he has a rich history of peddling conspiracy theories. He is basically an infomercial for 'prepare for safety' with bitcoin seminars, gold and food storage. FYI he has been pushing the banks are screwed since the crash and never stopped. When he went never Trump his media empire began to crumble and he's been cuckoo ever since, his health is suffering and he's lost a ton of sponsors. He is sounding the alarm with just enough info to scare the crap out of people.
Now while I agree the Federal Reserve is a collaborative group of crooks this is and was going to happen when Powell, a dumb ass began tightening while at the same time raising the Federal Funds rate. He cannot and will not use the letter 'QE' any longer in speeches b/c the doesn't want to freak people out. Instead the new buzz word is 'organically growing the balance sheet'. Same thing.....propping up the financial system with voodoo money. So QT allowing treasuries mature and raising of FFR was stupid to do simultaneously and there is now a liquidity crunch. There were more than a few people who called this earlier in the summer, but Powell is incompetent as are may of the bank members. The Feds balance sheet shrunk by $800b as of April for the prior 2 years....no one knows exactly when they got too tight, but they know now they DID get too tight.
If you really want to get bored I can link a couple of articles to you, but don't blame me if you fall asleep. Ya gotta be a full dork to enjoy this stuff.....of which I'm in the dork of the month club HOF. Banks around the world are laden with debt....layer upon layer of debt instruments and it will come down in our lifetime, but Glen no more has an idea when than I do when I'm going to die. What he's attempting to do is gin up hysteria for bitcoin seminars, gold and food storage sponsors. He is not wrong that something is very very wrong with central bankers, ALL banks in the world and debt levels. His message is the same for a decade.....and when it all does crumble nothing he is offering you is going to matter either.
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Study up on fractional lending, or fractional reserve banking.
You deposit $1 and the bank loans $10 or more. Nice work if you can get it buty what happens shen everybody asks for their $$$ at once?
You deposit $1 and the bank loans $10 or more. Nice work if you can get it buty what happens shen everybody asks for their $$$ at once?
I kind of like Christine Lagarde's speeches, I think somewhere deep down inside she gets a kick out of saying in banker speak "You all are bust and just don't know it yet" and watching nobody care.
And guess who will be running the next doling of our new currency The Dildoshaft.....the same 'smart people' who started it all. Fewer people with have the power this time though.....man I hope I'm dead b/f it implodes.
What good is scaring the shit out of the public for 10 years that the sky is falling if you can't tell them when? It's pure and simple: he's makes money off fear mongering. He's been in desperation mode the past few years with his media empire crumbling and it gets more pathetic by the week. Pre-election it was 'because of my convictions I cannot vote for Donald Trump' so he voted for Darrell Castle. Then when his business started to get hurt post-election his 'convictions' changed and now he's a Trump supporter.
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Question for you 8pointer, I saw it mentioned on another thread, Dod/Frank allows the bank to freeze your bank accounts. Do you know if this is what also allows 401Ks to be taken, similar to what happened in Greece?
That's a great question and something most of the population is unaware of currently otherwise there would be more outrage from the general public. As you read on another thread since a 'bail out' is now against the law it will be a 'bail in' this time around....on depositors backs. Banks and regulators have already streamlined the paperwork and it can happen in 1 day......a single day they can freeze our accounts and use our money to attempt a move towards solvency in exchange for shares of the bank. I'm not aware of Dodd Frank or the latest revisision being allowed to seize 401ks although I know politicians have long drooled over the prospect of coming after retirement plans. Earlier this year a group of Dumbocrats introduced a plan to tax all 401k contributions, rebalances and of course a new tax for minimum distributions/withdrawls. At some point the pendulum will swing left again and if they time it right they may get it done, but it will end up in the hands of SCOTUS ultimately. When the bail in happens it will be ugliest for those who are a slave to the bank because they are not going to pardon anyone's monthly debt service obligations.
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Been slowly moving any and all savings out of banks and into investments. Not sure if that'll save me but at least it's not being used by Wells Fargo.
VooDoo
VooDoo
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Courts have decided that when you deposit money in a bank you are basically making an investment in the bank.
The bank is not safely stashing your money away in savings for you.
Your money is theirs and only listed as a business liability.
Our monetary system is fucked.
Im guessing 401Ks are even more so considered an investment as that is what they are..
That 17 plus trillion (probably way higher now) 401K sheep is ripe for shearing.
Friend just sent this to me.....it's amazing I was told a couple of years ago by someone at ML that SIPC would not protect anyones liquid cash at a brokerage firm if a bank run ensued and the 'bail in' debacle started. Securities yes. I'm going to read this, but it's still amazing how unsure people in the banking and investment industry seem to be on this outside FDIC/savings/checking/banks topic. The guy who sent this to me works in a boutique investment firm and he was not 100% sure....25 years in the biz. Note this is not the amended Dodd Frank legislation it's dated 2011. Page 51 is where I'm focusing on Initiating SIPA Liquidation
So, where the fuck do we put our savings/retirement money that it can't be grabbed by Bankers who are running their shit into the ground? Bury it? Buy precious metals and hide it?
I'm so fucking sick of cheaters and big money motherfuckers. I have spent 46 years working up to 3 jobs at a time and saved enough to keep me fed, housed, and clothed, and medicated in my final years and they wanna *steal* that fucking money so bad it makes them salivate. So it ain't safe in Vanguard or Fidelity either?
Fuck me.
VooDoo
I'm so fucking sick of cheaters and big money motherfuckers. I have spent 46 years working up to 3 jobs at a time and saved enough to keep me fed, housed, and clothed, and medicated in my final years and they wanna *steal* that fucking money so bad it makes them salivate. So it ain't safe in Vanguard or Fidelity either?
Fuck me.
VooDoo
I'm on hold with Vanguard.....they have transferred me to 2 different offices. I'll get an answer from someone, but I'm going to make them email me the memo or document. Will let you know.....sigh.
What we need is a Warren/Ocasio-Cortez ticket!
Invest in land, lots of land, you then have mineral rights and other items and going into retirement you can make just as much. leasing your land to cattle farmers or fraking if you have enough will bay you a similar amount t as your 401k payout
When the Ice caps melt, 1/3 of all global real estate will disappear...
Anyone holding a loan will be destroyed
Banks
Ginnie Mae
People
that is why banks stopped lending on all homes under 100 feet in elevation....
on a serious note, banks have made a ton on the Mortgage game- should real estate drop, banks quarterly earning numbers will drop dramatically
Anyone holding a loan will be destroyed
Banks
Ginnie Mae
People
that is why banks stopped lending on all homes under 100 feet in elevation....
on a serious note, banks have made a ton on the Mortgage game- should real estate drop, banks quarterly earning numbers will drop dramatically
Faith in Politically backed Inked paper is nothing more than a pie in the sky, brain fucking game.
i have lot of money in form of cryptocurrency, i think its a very smart way to keep your Money off the government and banks.
OK, the system is busted; so recommend a better one for me...
The point here is that if you're demanding perfect, maybe you're not an investor anyway.
Perfection does not, never has, been the reality.
Only the Socialists claim perfection. ...And they're lying in their teeth. They post topics like this one to intimidate others into backing their insanity.
The point here is that if you're demanding perfect, maybe you're not an investor anyway.
Perfection does not, never has, been the reality.
Only the Socialists claim perfection. ...And they're lying in their teeth. They post topics like this one to intimidate others into backing their insanity.
That's well said. It's messed up, but it's what we've got. Traders, investors, spenders and money under the mattress the US Dollar is still the best flavored currency on the planet. Beck's answer is to pay for one of his Bitcoin seminars and invest with Goldline to save your family. If the US Dollar becomes insolvent nothing any of us have is going to matter and the giant reset button is pushed.
If anyone wants there is a fantastic round table on CNBC 12:15 EST on this very topic of Fed Repo moves(can probably find it on web page to listen after). The Fed screwed up and tightened too much too fast and was slow to react. Liquidity squeeze on overnight lending.....it can be reversed and now the security guard is awake. And people call these Fed Board members smart.....this happened last fall and they still let it happen again in September.
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THIS is why it's imperative they disarm you before that happens.
==========================
"Until the redemption of the purchased possession." Eph. 1-14
=========
Psalm 91:
1He that dwelleth in the secret place of the most High shall abide under the shadow of the Almighty.
2I will say of the LORD, He is my refuge and my fortress: my God; in him will I trust.
3Surely he shall deliver thee from the snare of the fowler, and from the noisome pestilence.
4He shall cover thee with his feathers, and under his wings shalt thou trust: his truth shall be thy shield and buckler.
5Thou shalt not be afraid for the terror by night; nor for the arrow that flieth by day;
6Nor for the pestilence that walketh in darkness; nor for the destruction that wasteth at noonday.
7A thousand shall fall at thy side, and ten thousand at thy right hand; but it shall not come nigh thee.
8Only with thine eyes shalt thou behold and see the reward of the wicked.
=============================
*** The problem lies in finding that secret place, then even more difficult, abiding there. Many THINK they've found it but most are sadly mistaken. I found it years ago but in the world its a bitch staying there. Every time I wander out i get clobbered.
The only safe place for your money is gold and silver coins and cash on hand. Yes I know you guy will say lead to. Non GMO garden seeds is another and your talents you can trade with people.
In the end we are so extremely fortunate to live in the GREATEST country in the world. Imagine living in an open border European shit hole for a moment? 'But we have really great roads here'. Ok you can have it and your entire socialist bag of crap that goes with it.
America ain't perfect, but if you know of a better place to live let me know. I'm not through fighting for the America I was raised to love and respect and I suspect the vast majority of the people here feel the same way....minus the few occasional libtards who pop in with their passive aggressive comments and run off. I'm not accepting the things that need fixed here I will do what I can, but dang it's great to be an American.
Suck it Trudeau, Lagarde and the rest of the socialists who are jealous of what we have....it did not come free. You had your chance to do it right and went left...live with it.
America ain't perfect, but if you know of a better place to live let me know. I'm not through fighting for the America I was raised to love and respect and I suspect the vast majority of the people here feel the same way....minus the few occasional libtards who pop in with their passive aggressive comments and run off. I'm not accepting the things that need fixed here I will do what I can, but dang it's great to be an American.
Suck it Trudeau, Lagarde and the rest of the socialists who are jealous of what we have....it did not come free. You had your chance to do it right and went left...live with it.
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