Posted on 05/03/2023 8:28:50 PM PDT by SeekAndFind
I find Joe’s crazy policies making things a lot worse.
But then, I guess we’re about to find out.
Yeah, it would be better if I was incorrect.
Depends upon how robust areas are, I suppose.
Re: 20 - Thanks for pointing out adjusting the bubble graph for inflation.
That’s pretty basic stuff unless whoever making graph is stupid or intellectually dishonest. And both are possible in this case.
Exactly.
drip... drip... drip... ... FLOOD!
So, the number of bank failures is substantially less than 2008 (by that chart) but the amount is quite a bit higher (not adjusted for inflation).
But even at that lower point there’s a slight rise in bank failures after a leveling-off.
Am I reading that correctly?
Very few people store actual money in a bank.
Money is - amongst its other essential attributes of fungibility, durability etc - a store of value.
Fiat currencies and numbers on a screen do not act as a store of value. They are not money.
Our bank accounts are just ... credit. They work for the day-to-day, but not for savings.
The Fed's printing press?
My interpretation, as good as yours, is that it is a chart in-progress. This “FDIC Friday”, expecting not one but two banks for the FED to find a “buyer” for. JP Morgan was last weekend, who’s next? BOA? Another one of the Big Four? Thus, where you see a “slight rise in bank failures after a leveling-off.”, I see a rapidly rising red line to be appended, as the current week’s batch is added, and with at least 10 more big banks NOW having trouble, the week after perhaps 4, then 8, 16...
The financial problems are systemic. It’s going down.
FIAT is for all intents and purposes at the end of its days.
See the excellent reply in #27.
There’s no more kicking the can down the road. Consider that the increasing bank failures, now much MUCH larger than 2008, is linked with the looming debt ceiling.
And talk of the FED's mint striking a $1Trillion platinum "coin".
(sidenote: if there was an actual $1T coin at the current $1000 platinum price, it would weigh 32,000 TONS)
Good point! Really helped to remind me how enormous a Trillion is.
If there were 142 Statues of Liberty all made of solid .9999 pure Platinum - they would be worth maybe a Trillion dollars at todays prices.
That’s the value that the Mint is coyly proposing to wish into existence.
47% of the population will vote democrat no matter what.
[This “FDIC Friday”, expecting not one but two banks for the FED to find a “buyer” for. JP Morgan was last weekend, who’s next?]
I guess we’ll see what this Friday brings. Ping me if you run across something significant. Thanks.
[And talk of the FED’s mint striking a $1Trillion platinum “coin”.]
Where’s that pic of Zimbabwe money?
All of my banking is now done through two local credit unions. I'm done with banks.
Ransomware was created BECAUSE of cryptocurrency, both go hand in hand.
The chart needs to have Citigroup added in 2008, then all the dollar totals need to be inflation-adjusted. That’s a different picture. And if you throw in Fannie, Freddie, Lehman, and other FIs, it’s not even close.
As for the end of fiat currency, I’ll believe it when the losers selling gold with their doom newsletters ask for chickens and stop accepting payment in cash.
Are we seeing problems? You bet. Is this TEOTWAWKI? Doubtful, just like it was the scores of other Times snake oil salesmen told me forget the earlier false predictions/THIS time it’s The End.
Will these do?
Heh
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