Posted on 03/17/2023 6:51:10 PM PDT by CFW
Gold is prettier than paper.
“the fundamental transformation of America”
When I was a young man back in the 1980s, I was working for a very solid and secure savings and loan. I got a chance to go to work for another new savings and loan setting up a shop in town. At a 50% increase in salary. The president of the company that I was working for told me not to do it. Do not go to work there, they won’t be in business six months from now. He was right. I was laid off six months later, and it took me two years to rebound into a new and better position. That was the beginning of the savings and loan scandals and the collapse of that entire industry. Why? Because of deregulation, fraud and mismanagement.
And the way I see it, Yellen and other idiots are opening the door for a complete repeat of the S&L crisis.
Do share, I hope you are not talking about Bitcoin.
Some ETFs and Money Market mutual funds that largely invest in very short term Gov’t bonds.
We’ll see how long this runs. [It’s better than nothing [***cough***Bank Accounts***cough***]], but still WAY less than BiXiden and Congressional Inflation.
It all sucks. On steroids.
Coverage Limit: Each co-owner's shares of every joint account at the same insured bank are added together and insured up to $250,000.
Making a "payable on death" designation can increase your FDIC-insured coverage limit to $1.25 million; this is up from the standard $250,000.
Trump never fired her. Her term was up in 2018, and I don’t think she wanted to be renominated. The person Trumppicked to succeed her was just renominated to the role by Biden. Apparently, Trump and Biden agree on who should lead the Fed.
and also, once everyone is at a small handful of banks.. banks can refuse to lend or accept the accounts of non-woke people.
*sigh*
just part of the commie take over plan.
Canaduh recently showed how that will work out....
Exactly.
It is becoming obvious that they want the banks to fail so the government can step in and “save”us.
A major step in the “You will own nothing and love it” plan.
I’ll stay with the official websites..
of course if their is a run on your bank, you can kill yourself and have 5 beneficiaries, it may work, 250k each..but you better hurry....
C’mon, man. EDIE, like every other government website, sucks.
She’s doing this because a good many Democrat high rollers had BIG deposit accounts in SVB.
If it were, say, Comerica, nada.
My bank notified all of its customers with the following:
“For customers with deposits in excess of $250,000, we offer deposit placement services through IntraFi® to provide FDIC insurance for all your funds. By utilizing these services, your deposits can be 100% FDIC insured. With IntraFi® services, deposits are placed at IntraFi® network banks in amounts that, at any one bank, do not exceed the FDIC’s standard maximum deposit insurance amount of $250,000. As a result, these deposits are eligible for FDIC insurance. In the FDIC’s nine decades of operation, no one has ever lost a penny of an FDIC-insured deposit.”
I think our banking system can weather the storm, but the more people predict doom and gloom, the more likely it is to happen when it comes to bank runs.
Thanks. One of my banks is onboard.
The VAST majority of consumers don’t have anything like $250k in their accounts. Probably more like $2500 or less.
Moving to hedge funds is just as dangerous. They get no backup if they go bust. Although one of the big ones declared itself to be a “bank” in the 2008 crisis, didn’t it? Thus gaining Federal backup? The Vampire Squid was the nickname.
Some of these “small businesses” rake in the cash and have that in their accounts.
“No this was engineered on purpose.”
Agreed. It was almost(?) as if they had all their plans in place once the rumors of SVB’s problems began to spread.
I’d like to see the emails and texts messages between all involved and who made the first large withdrawal from the bank. Also, we need a list of every individual and corporation that benefited from the bail-out. And, every email to and from the “Risk Manager” from the time she was hired on to the company.
Payable-on-Death (POD) Accounts
Your POD account is insured up to $250,000 for each beneficiary.
10
However, there are some requirements, including:
The account title must include a term such as:
payable-on-death
in trust for
as trustee for
Your beneficiaries must be identified by name in your bank’s deposit account records.
You can only name “qualifying” beneficiaries. These would be your:
spouse
child
grandchild
parent
sibling
10
Others—including in-laws, cousins, and charities—do not qualify. Therefore, if you set up a POD account naming your three children as beneficiaries, each child’s interest would be FDIC insured for up to $250,000, and your account could have $750,000 in potential coverage.
https://www.investopedia.com/articles/pf/06/fdicinsurance.asp
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