Posted on 06/17/2023 8:23:54 PM PDT by CFW
If people are withdrawing money at record rates where is it going? Are they putting dollar bills in their mattresses? A hint is in the article itself “insured deposits increasing”. So the article is misleading; they’re not so much withdrawing it as moving at least some of it around from one bank to multiple banks to get under the FDIC insurance limits. Money just doesn’t disappear (unless the government gets its rapacious greed hands on it) it has to go someplace.
.
Bidens stagflation.
OPEX kills volatility. There should be a post opex consolidation period, a sign a of weakness. Anybody shorting since beginning of June ran right into volatility falling. This week we might see the JPM hedge come into play again at around 4320. Puts are cheap, 440 looks like a upper limit for now. 430 would be a reasonable target, and cash out when up at your acceptable levels.
It wasn’t Wells Fargo. Far too many of the well known banks decided to fleece bank customers when current interest rates matter.
This must be false as Joe Biden says this is the greatest economy ever ... Bwhahahahahaha
“According to the FDIC, the “primary driver” behind the withdrawal of deposits was the movement of uninsured deposits as individuals sought to safeguard funds exceeding the FDIC-insured limit of $250,000.”
About 99% of bank depositors don’t have multiples of $250,000 to move around.
What is your poison of choice? Beer? Wine? Hard liquor? Sterno?
Regards
*************
Lol
Alexander,
You have great sense of humor. It’s one of the things I like about you.😀
I’ve been saying that for years.
"Courage is being scared to death, but straddling up anyway." ~~ John Wayne (tagline of mass55th)
Regards,
“straddling up”
ya budddy ... ride-em cowboy
fed- Bullard says something at 6:30 am tuseday
fed- Williams at 11:45
the fed is always good for pushing the swing
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