So what does it mean?
So what? Put the same cash into a bank-owned brokerage accout, and they won’t charge you a dime if you make a single stock transation for any amount.
What about Fred’s Bank.
“Hi, I’m Fred, I have a bank. You got $1500? ...ahhh, I’ll put here ... in my white suit...White suit, front pocket!”
-Steve Martin
btrl
No posts about Revelations yet?
A safe deposit box is cheaper
Because Americans are not saving, our federal government has had to pay out trillions in Covid “relief”.
The monthly Hills Road Mortgage Association mortgage meeting is called to order.
Potential Mortgagor One: I have a two-bedroom house at 308 assessed at $210,000. I need to refinance the $96,000 I owe as cheaply as possible. Bids please.
Bidder One: $20,000 at 2% for five years, HRMA terms.
Bidder Two: $30,000 at 2% for five years, HRMA terms.
Bidder Nine: $30,000 at 1.8% for five years, HRMA terms.
Mortgagor: I will be taking bids 6 through 9. Thank you!
Potential Mortgagor Two: I have....
....
Thank you for attending and lending. Same time next month!
Wait until the banks pull a Cyprus and start bailins.
Will we see a swing here, in the States, towards inflation to the extent of spurring higher interest rates?
https://www.youtube.com/watch?v=SGYVWrjRMXU. Watch. Eventually, the currency that those in charge give to you is worthless to them, instead... they demand something of “actual” VALUE. We are already there. Take some tin-snips and cut open a penny, a nickel, quarter. If you find any copper, nickle or silver. It is ALL yours! The paper... As though it is a different concept.
Sounds like the stupid policies are catching up to their logical conclusions. The question is whether they will figure it out and back out of the stupidity or simply go off the cliff.
My bet is off the cliff right now.
if they have that much
they have enough for a very secure and hideable safe
Ping
https://hammeroftruth.com/2004/what-are-banks-for/
Has the text of a 1957 piece from Punch magazine on the subject.
Worth the read.