Q. How do you know what’s being said on the corporate, deep state, news media if you don’t watch it or listen to it?You don't watch alternative media because it doesn't fit your woke agenda that you get from the Main Stream Media.
A. You don’t, because it doesn’t fit your tin foil hat agenda? Originally Posted by ManSlut
^^^ Another miss, Levi because trust me that guy is not woke. Unlike you, I know from actually being around woke motherfuckers in person and not by defining them from watching clown videos on bitchchute because they have different views from me on a whore board.I don't need to hear any of your crap today.
Anyway, this thread is comical. I've admitted that I work in the financial service industry. I've had many banks as clients and still do. You have a better chance of getting hit by lightning every day of the year than you have of a financial institution like a Wells Fargo, BofA or Fidelity (just to name a few) of losing your damn money.
Do any of you the sky is falling know it all folks even know what bank regulations are for a public company in that industry? Of course not. I do though which is why this troll thread is laughable to me.
My unsolicited advice is that some of you folks should really stop watching stupid ass videos on the internet.
Now please, speak to the possibility of the US going to a crypto dollar and recalling or cancelling hard currency. Is that a real thing or just more scare talk? Originally Posted by ICU 812The dollar is obviously weaker globally now, but trust me, we are a long way away from just crypto. It may get there one day, but I won't be alive to see it. Don't believe me? Look at the share prices of Bitcoin and Ethereum and how they are low in comparison to where they once were.
I don't need to hear any of your crap today. Originally Posted by Levianon17Well, that's not very nice. I thought we were internet besties... and technically, you didn't "hear" anything from me. You intentionally read my post and even quoted it and you didn't have to, so I assume you obviously want to "hear" my "crap" today... or perhaps bitchute told you that I remotely give a flying fuck about what "crap" I think you want to "hear" today. LOL
Anyone else listen to Mannarino? Originally Posted by HoHoundNo. This guy is one of many purveyors of what many of us refer to as "doom porn" -- the sort of stuff that's peddled to those who seem to believe that there's a conspiracy behind every tree and a financial collapse just around the corner at any given time. To be sure, there are plenty of elements of instability embedded in our (and the world's) financial and monetary systems. But people like this don't understand them, or don't care, since their primary goal is to sell podcasts and videos touting the wonderfulness of cryptocurrencies and other alternative assets.
I keep enough money in the bank to pay bills and that's all. Stacking gold and silver coins is the best strategy to reduce risk from failing banks and rising inflation. If you believe the federal government, deep state media, and the corporations have your best interest, YOU are the brain dead conspiracy theorist. Have fun wiping your ass with those worthless dollars. Originally Posted by HoHoundIn my view, the only risk of bank failures in the near-to-intermediate future arises from the likelihood of CRE mortgage defaults over the next 12-24 months, and is almost exclusively limited to smaller regional banks. In particular, owners of sub-class A office buildings financed with lower interest rate loans scheduled to reset within the next year or two are in serious trouble. One friend of mine with a great deal more detailed understanding of this issue estimates that this could be a $250 billion problem over the next three years. Still, the risks are not exactly unknown, and the biggest banks (especially JP Morgan Chase, but also B of A and a few others) stand to pick up some assets "on the cheap" and become even stronger than they are now.
Is there any prudence in keeping some fraction of my net worth in something tangible such as Art or precious metals? Originally Posted by ICU 812Art? A hard "no," in my view. Gold or other precious metals? I like to own a little gold, and have for many years -- and see it as a store of value. However, though it's not a "precious metal," I like copper even more, and have owned some Southern Copper Corporation shares for at least 15 years, adding a bit more here and there over the years. It pays a pretty good dividend as well as owning substantial reserves.
Now please, speak to the possibility of the US going to a crypto dollar and recalling or cancelling hard currency. Is that a real thing or just more scare talk? Originally Posted by ICU 812More scare talk. Part and parcel of the "doom porn" purveyance.
No. This guy is one of many purveyors of what many of us refer to as "doom porn" -- the sort of stuff that's peddled to those who seem to believe that there's a conspiracy behind every tree and a financial collapse just around the corner at any given time. To be sure, there are plenty of elements of instability embedded in our (and the world's) financial and monetary systems. But people like this don't understand them, or don't care, since their primary goal is to sell podcasts and videos touting the wonderfulness of cryptocurrencies and other alternative assets.Good post as always. I'll chime in. If a person is paranoid about banks, Treasury Direct is a great way to buy treasury instruments. You can realize interest rates in excess of 5% with an account held directly with the government:
Roundup of a few more comments and replies to posts of others curious about this and related issues:
In my view, the only risk of bank failures in the near-to-intermediate future arises from the likelihood of CRE mortgage defaults over the next 12-24 months, and is almost exclusively limited to smaller regional banks. In particular, owners of sub-class A office buildings financed with lower interest rate loans scheduled to reset within the next year or two are in serious trouble. One friend of mine with a great deal more detailed understanding of this issue estimates that this could be a $250 billion problem over the next three years. Still, the risks are not exactly unknown, and the biggest banks (especially JP Morgan Chase, but also B of A and a few others) stand to pick up some assets "on the cheap" and become even stronger than they are now.
Inflation? It began spiking rather alarmingly a couple of years ago, of course -- but has been on the wane for some time now, and looks likely to remain quiescent.
So, the risk inherent in holding balances in any of the larger banks today is nil. Still, if that concerns you, you can always park your liquid funds in T-bills while awaiting a more attractively priced market for whatever strikes your investment fancies. The 3-month through 12-month portion of the UST yield curve now pays close to 5.5% (which is actually about 3.25% after-tax, since the income tax rate on interest is 40.8%). Nothing to get all giddy about, obviously, but a lot better than what you'd get for your liquid funds a couple of years ago.
Art? A hard "no," in my view. Gold or other precious metals? I like to own a little gold, and have for many years -- and see it as a store of value. However, though it's not a "precious metal," I like copper even more, and have owned some Southern Copper Corporation shares for at least 15 years, adding a bit more here and there over the years. It pays a pretty good dividend as well as owning substantial reserves.
A number of promoters of LPs and SPACs have been touting art during the past couple of years. Generally, the pitch runs something like this: Wealthy art collectors have enjoyed huge gains recently in the market value of fine art. The trouble with this is that people suffer from "extrapolation bias." In other words, since this stuff has had quite a run-up in market value, it will continue to do so. The problem is that a lot of people are likely to buy in at or near a market peak and then lose money or at the very least have trouble selling out of an illiquid investment vehicle.
More scare talk. Part and parcel of the "doom porn" purveyance.
As I said earlier, doom porn sells! Originally Posted by Texas Contrarian
