Posted on 03/27/2023 4:38:38 AM PDT by CFW
A trillion dollars is a lot of money. If you stacked a billion dollar bills on top of one another, the pile would be 67.9 miles high, but if you stacked a trillion dollar bills on top of one another the pile would be 67,866 miles high. And if you lined up a trillion dollar bills end to end, the line of dollar bills would be a staggering 96,906,656 miles long. That is longer than the distance from the Earth to the Sun. A trillion dollars is such a vast amount of money that it is truly difficult to comprehend, but as you will see below, that much money has already been pulled out of “vulnerable” U.S. banks over the past year. Hordes of small and mid-size banks are now in trouble, and that is really bad news because those institutions issue most of the mortgages, auto loans and credit cards that our economy runs on. The other day, I asked my readers to “imagine what our country will look like if the banking system implodes and the economy plunges into a depression”, because if our banks continue to collapse that is precisely where we are headed.
Unfortunately, the recent banking panic has greatly accelerated matters. In fact, a whopping 98.4 billion dollars was pulled out of U.S. banks during the week ending March 15th…
The readout, released shortly after the market closed Friday, came around the same time as new Fed data showed that bank customers collectively pulled $98.4 billion from accounts for the week ended March 15.
That would have covered the period when the sudden failures of Silicon Valley Bank and Signature Bank rocked the industry.
(Excerpt) Read more at noqreport.com ...
https://americafirstreport.com/why-crashing-banks-will-usher-in-digital-currency/
https://thelibertydaily.com/fdic-disguises-bailout-as-purchase-as-first-citizens-bank-buys-silicon-valley-bank/
For those who haven’t really reviewed how 1929 went, the era prior, or the months after the crash...I would suggest these six books as good reference points.
(1) Manias, Panics and Crashes (Aliber, 2015). (2) A Rabble of Dead Money (Morris, 2018). (3) The Forgotten Man (Shales, 2009). (4) Once in Golconda (Brooks, 2014). (5) Bubble in the Sun (Knowleton, 2020). (6) The Great Crash 1929 (Galbraith).
Bubble in the Sun is particularly good on laying out the Florida real estate collapse.
There are a number of points which are simply repeats of what was going on the year of 1929.
The Man wants to impose a Central Bank Digital Currency to effect total control over everyone.
Therefore:
1) Retrieve and use your cash.
2) Stop using Credit Cards. Do not feed that which seeks to crush you
3) Pay down your debts
The reason i have trouble drawing comparisons to other historical catastrophic collapses, like 1929, is the federal government has no regard for debt. Whether its their own massive debt or the record consumer debt… they simply print money, make credit available just a little higher rates and delay the day of reckoning. A recession is inevitable but it would seem like the folks making these decision have a very short minded view of the economy… and almost no common sense. Its scary.
https://globalwalkout.com/keepcashalive/
WHAT IMPACT| DOES USING CASH HAVE ON SMALL TO MEDIUM BUSINESSES?
Businesses save money instantly on transaction fees.
They have more control over their profits.
If you can help save that business money, they are more likely to keep staff employed and give back to their local community.
Small to medium business are an integral part of keeping your local economy and community thriving and growing.
WHAT’S WRONG WITH A CASHLESS| SOCIETY?
Cash jobs on the side will no longer be an option, which create economic hardship and higher debt.
Tech companies have invested heavily in making electronic transactions secure but hackers are always one step ahead. In a world of 100% electronic payments, the risk of falling victim to fraud rises significantly.
If cash dies, your location and purchases will be tracked automatically. You won’t be able to opt out or unsubscribe.
If you are on any government funding whatsoever, they could restrict you from spending that money on certain things that the government does not condone.
Cash allows you to make anonymous purchases or donations. If cash dies, there will be no such thing.
People in abusive situations are often financially reliant on their abuser. If cash is removed, their way out will be that much harder or close to impossible.
Elderly, blind and people with disabilities will struggle. Many people can’t or don’t know how to use technology. They would also be vulnerable to scams and other technological difficulties.
WHAT ARE THE TECHNOLOGICAL IMPLICATIONS| OF A CASHLESS SOCIETY?
We will be reliant on technology every day. If you want access to funds, you will need the latest devices and software to enable payments. If you are not a very tech savvy person, this could become a big problem. It is also extremely expensive and inconceivable for some households.
You won’t be able to leave your home without some sort of device.
Cash protects you from being at the mercy of electronic forms of payments during power outages and looming high energy costs.
When all of the major central banks engage in simultaneous, coordinated depreciation of multiple currencies at the same time, it’s hard to create hyperinflation because there is no alternative, liquid form of currency you can swap into.
As is so often the case of some the "journalism" being committed each day, the story in wildly incomplete.
Simple question. Where did the customers THEN place their money? That is the real tale.
When one considers offshore things, and looks at the Cayman Islands' massive holdings, it shows avoiding scrutiny is the game for the elite.
You left out “Reminiscences of a Stock Operator”. Edwin Lefevre.
Not shocked. Told wifey that big boys (and girls) are quietly pulling their $$ and little people will be bagholders.
Mattress sales are going through the roof.
Pulled out of small and mid-sized banks and immediately deposited in large banks. The smaller banks don’t have that amount of paper bills to hand out. Depositors just do an electronic transfer.
That is what crypto is supposed to be for.
Almost 100 years after the Crash...people also panicked and pulled their money out of banks back then,too.
With the current inflation rate you might as well tie your money up in depreciating assets which make you happy. The alternative is to watch your savings account depreciate to nothing while you live in misery.
DID FTX start the dominoes falling?
Hoe many failing banks were facilitating CRYPTO transactions???
COMPLETE HALT TO activities-—ALL ACROSS THE USA.
COMPLETE HALT TO activities-—ALL ACROSS THE USA.
A MASSIVE GENERAL STRIKE-—CREATED BY BIDEN & FRIENDS.
Probably so. People will be shocked. There will be no alternative.
IIRC, the Central Bank Digital Currency “goes live” this coming July, 2023 - roughly 3 months from now
(someone correct me and/or add additional info - thanks)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.