I looked up bank failures in this country when the headlines came out about the nations two largest banks failed, lately. What I found was, we have banks fail in this country all the time, it just don't make the headlines. I don't remember the numbers, but this year so far is actually showing bank failures, failing at a slower rate than average! I suspect all this hype, is just another control tactic by the lap dog news media?
Economy and dollar going in toilet.Government wants CBDC. To many banks make it difficult. Dig banks eat up smaller banks and get there depositors. just a few large banks makes it much easier for transition into CBDC. Now Gov. have you by the ba$$s… just saying
Actually if you look at dollar amount of failed banks this year instead of how many banks as apposed to 2008 crash, the dollar amount is larger this time. And it’s still early in the year.
this is probably pretty close. if the fed wants the cbdc then all other banks need to go away. there will be no need for any commercial bank competing with the fed. all of your wealth will be kept in a digital wallet at the fed. and the currency will be programmable to restrict you from using it in any way the fed doesn't approve. cash will go away. i suspect there will be a black market of some sorts???? maybe use laundry soap like the people in Venezuela did?
Yes banks must have x amount on hand, in relation to what they have loaned, so they can handle a run. That is why banks are paying 5% and more on CD's, When they hit that x amount, they stop paying good interest on deposits. Big banks don't have to pay as much interest because of name recognition, smaller banks have a lower margin of profit, and are more likely to fail. Now Biden has introduced new rules on lending, May 1, borrowers with good credit pay higher fees than borrowers with bad credit. So unlike 2008 where the government was on the hook for bad loans, now if you have good credit, you are on the hook for bad and risky loans. Big banks are more likely to get a bailout, like svb, than small banks, so depositors go to the big banks and earn less, and small banks get even more pressure. It's complete manipulation by the government. We are moving towards socialism at a very fast pace, and about half the population is OK with that. We are screwed, and we are failing.
IMO barter will be wide spread and although people will trade may item as needed, although mainly silver in bullion as well as pre 1964 coins will have purchasing power as well as ammo and reloading components and food. Also gold as a store of wealth, but the value of gold will be so high it will be useless for trade.
What if you need a loaf of bread and all you have is gold or silver bullion? Are you going to bite off a chunk and trade it for the bread?
Did you not read entire post? I stated silver bullion AS WELL AS pre 1964 silver coins. (90% silver) As in dimes, quarters, etc... small demonizations Used for smaller purchases.. Gold for store of wealth not to purchase food.
Yeah, I read it all, but guess I didn't splain my question well enough.
I get the small silver coins, but how many are left in circulation now? I haven't seen one in many years. That supply is certainly limited, and when it runs out, how is the wealth in gold, going to buy that loaf of bread?
I'm not trying to argue or diminish your points, I just don't understand how owning bulk gold is going to help someone through tough times?
check eBay, or any coin dealer. There all over eBay. You haven’t seen one (pre 1964) because there not in general circulation. They have a silver value. Unlike the coins now (are worth nothing) not even the value of the metal they are made of. Silver and gold are going up and dollar purchasing power going down. When the dollar fails, which would you prefer? Also available are 1oz. Silver coin bullion. Gold is a store of value if you have “excess“Dollars . The value of almost all assets will go down with the dollar, but silver and gold have been the original “money” since the Romans. All else is just currency and everyone in history has failed on average every 40-50 hrs. We’re over due, and it’s happening. If you own gold and silver bullion and If nothing happens, then you have made money because gold and silver are going up (have been since 2008) but purchasing power of the dollar has gone down A lot.
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