[crusty old prospector]

Is it going under the mattress? Maybe Treasury bonds and bills.

[Red Badger]

Cayman Island...........

[volunbeer]

I am admittedly very nervous about what is happening with “banking”.

You keep putting air in a tire and what happens? This is what our Fed has done in our economy since Greenspan. It benefits Wall Street and the elites but it harms regular people and my children. For every action there is a reaction.....

I don’t wish for bad things to happen, but the people responsible for the idiotic economic policies that brought us to our current predicament should NOT be bailed out by my children.

A day of reckoning seems inevitable to me despite their incredible ability to keep kicking the can down the road.

[SaveFerris]

I'm not saying the Central Bank Digital Currency will be one o the last few things left standing.

Because that would like, be, like, tinfoil.

Now admittedly it's just a guess.



Long-awaited Fed digital payment system to launch in July (2023)

The Federal Reserve’s digital payments system, which it promises will help speed up the way money moves, will debut in July.

FedNow, as it will be known, will create “a leading-edge payments system that is resilient, adaptive, and accessible,” said Richmond Fed President Tom Barkin, who is the program’s executive sponsor.

The system will allow bill payments, money transfers such as paychecks and disbursements from the government, as well as a host of other consumer activities to move more rapidly and at lower cost, according to the program’s goals.

Participants will complete a training and certification process in early April, according to a Fed announcement. (more at link - yes CNBC)

https://www.cnbc.com/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html

[GailA]

AS MUCH AS I CAN. BANK FAILURES HERALD DEPRESSIONS. NOT RECESSIONS.

Sen Lee Johnson budget, Yellen, $18 Trillion https://www.youtube.com/watch?v=jqmNEYX5p14

SOUTH AFRICA NOT IN USA. NEW TELESCOPE? MORE WASTED MONEY https://ijr.com/harris-telescope-answer-biggest-questions-humanity-gravity/?utm_source=Email&utm_medium=ijr-breaking&utm_campaign=breaking&utm_content=firefly

Transgender Socialist Leaves Police Officer in Critical Condition After He Opens Fire on Police

https://ijr.com/transgender-socialist-leaves-police-officer-critical-condition-opens-fire-police-report/?utm_source=Email&utm_medium=ijr-breaking&utm_campaign=breaking&utm_content=firefly

[George J. Jetso]

People are buying extra large mattresses.

[Kenny500c]

Nobody should be surprised - banks had plenty of time to increase interest paid, but they did not do so.

[Antoninus]

Well, I Bonds are currently paying 6.89%. Anyone keeping money in a bank account earning 0.5% is a sucker.

[Organic Panic]

Obviously Trumps fault even European banks are on the verge of crashing.

[RoosterRedux]

Important details from the FED Financial Stability Oversight Council meeting on Friday, per CNBC.

The $98.4 billion withdrawal was during the week that included the collapse of Silicon Valley Bank and Signature Bank (w/e March 15).

Most of that money came from small banks. BIG BANKS had an INCREASE in deposits $67 billion, but smaller banks had a decrease of $120 billion.

TOTAL DEPOSITS DECLINED ONLY 0.6%.

Money market funds (non-bank) assets have risen over the past 2 weeks by $238 billion.

Banks have taken loans of $116.1 billion (daily avg) from the central bank's discount window (from emergency lending facilities set up after the failures of SVB and Signature) and another $53.7 billion from the Bank Term Funding Program.

[Terry L Smith]

what good would it do, except to make the bank runs violent?

[I want the USA back]

If the banks weren’t on the fractional reserve system this would not be a problem.

If all deposits were required to be backed up by real funds actually in the bank, this would not be a problem.

[mewzilla]

Meanwhile, from NYS...

https://www.fingerlakes1.com/2023/03/29/public-banks-could-be-approved-by-legislature-could-your-town-or-city-start-a-bank/

Merde.