For times like these...
I do not know how much banks have been relying on, and in need of BFTP, but with its ending tomorrow, gold silver and stocks should be interesting. And, by that, we'll get an early glimpse at 6 PM tonight, when pre-markets for AU/AG open and DOW futures startup. Also, consider that gold is resting around the new high of 2180.
I'll mention that I don't believe gold is rising at all... it is just staying the same, as it always has, for 5000 years. It's the fiat TP we refer to as a "dollar", which in fact is not money, but just plain old debt, that is falling.
Can someone with knowledge about banking tell us if this means doom for small and midsized banks?
I have heard they are vulnerable.
Let's hope it's ending because it was 'too much of a good deal'... and not some of the other options.
For times like these...
The meaning of that article/post is about as cloaked as the stuff Alan Greenspan would say.
Just more fear-porn-panic fuel?
> I’ll mention that I don’t believe gold is rising at all... it is just staying the same, as it always has, for 5000 years. <
Someone once noted that throughout history one ounce of gold would buy you a first-class set of clothes. Not much more. Not much less.
So, yeah. You might have a point.
What about credit unions. My credit union claims to be safer than banks.
bkmk
Nobody has explained the reason the Fed is doing this, so I’ll tell you.
This program allows banks to borrow money from the Fed at 4%, and then turn around and deposit it at the Fed and collect 5% interest. Of course, all the banks are doing this.
Not surprisingly, the Fed doesn’t like this, and is shutting down the 4% loan window.
