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Post by kevlar on Mar 16, 2023 13:35:46 GMT -6
I thought I’d start a new thread on the banking issues going on as it’s kind of creeping into a couple other threads.
Sounds like the government is going to step in and help out these banks. What I find quite disturbing is what these banks were spending/donating money to. Quite a bit was donated to the Democratic Party, a bunch to Black Lives Matter, a a few other things I read. This is fairly concerning when a bank can make political donations then get the money back, sounds a lot like money laundering. This all sounds a bit off to me.
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Post by shmiffy on Mar 16, 2023 13:56:17 GMT -6
Govt has a campaign to crush crypto currency. They are not afraid to make some money disappear, Shrink the amount of money in circulation. The fed is going to make some banks disappear 🫥
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Post by kenmb on Mar 16, 2023 17:18:02 GMT -6
A new thread is good. Doesn't fit in marketing. But since everything ties together it is hard to keep things seperate. To your point Kevlar, you can see what fiat currency and a small group controlling all aspects of its creation and value can do. If we had sound money (backed by something) then this brings accountability. Unlimited spending and debt is not used to better society, rather it is used to tear apart society and divide. It is no coincidence that the big banks, central banks and government are all on board and no one stops it. They are all on the same team. The whole reason for the "independence" of the Federal Reserve is to keep government in check. If government gets in over its head then the central bank steps in. Which is odd because we are told governments can run every aspect of our lives better than us - but not finances, How come? Anyway, central banks have been on vacation the last 15 years with reigning in spending. So much for the adults in the room. In other news, according to Zerohedge, the banks have decided to have a group hug, put down their cut throat business dealings and all work together to bail out their competitors. Awww, isn't that nice. www.zerohedge.com/markets/first-republic-bank-shares-crash-exploring-strategic-optionsIt's like elementary school where everyone decides we are one big happy family. Now of course capitalism would say a bank staffed with a bunch of retards should go under and be a great opportunity for its competitors. But we don't have capitalism and I am dang sure we don't have competition in banking. When people figured out +1000 years ago you can create wealth out of nothing, it's doubtful the others with the same idea decided that if they all compete really well they can keep a level playing field for a millennium and more. Probably fair to say the competition was eliminated about 5 generations after the first group of bankers started to dominate. I would say it's safe to say the banks are on their own. And since they can't let their scam crumble, they are bailing themselves out. Now all they have to do is figure out how to solve the few $quadrillion of derivatives. Nothing says "not capitalism" like creating multiple mortgages of the same house to trade and bet on and fund your destruction of an economy. Will be interesting to see how it goes. As I said the other day, the Federal Reserve should bail out the banks in question. And since all Central banks and all other banks (big or small) is all the same group then the other banks doing it is the same thing. There could very well be some small banks actually following the rules and being subjected to oversight and such. To give the air of legitimacy and due diligence. But where the real power and control is there is no such thing as a bank just riding the wave of uncertainty. |
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Post by Oatking on Mar 17, 2023 17:35:32 GMT -6
Ok ? So oil is trading at 66 dollars a barrel today .shouldn’t inflation be under control by now?
Gold has stayed in a consist range now for years! Maybe to quiet , and fooling bankers to invest in riskier portfolios !!
Just curious, most intelligent borrows sign long term low low interest rates for homes. If interest sky rockets to 7-10 per cent wouldn’t that kill the banks as we know it? Most people are surviving pay cheque to pay cheque so maybe not much to put in the bank to save . If people slow buying too much that will make this past weeks banking trouble seem like a little blip .
Pretty complicated and maybe I have it wrong?
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Post by kevlar on Mar 17, 2023 18:12:18 GMT -6
Gold was up close to $100 an ounce today to about $2735 spot, costs close to $3000 depending what you buy. This tells me there is still panic in the banks. Gold, silver, platinum and palladium all up. Just picked up an ounce of platinum (Ya I know, big spender!lol) because it's turned around from yesterdays drop. Really wish I could swing the kilo of gold, but thought I'd hold off on that, about $90,500!!!! Sounds a lot to a shmuck like myself, but when you hear of all these guys with their millions in different banks, that would be pocket change.
I think we are very close, if not just over the tipping point of economic disaster. Just look around and see what's happening. More Biden corruption coming out all the time, more sketchy banks, Trudeau everything, why do you think the US is pushing harder for war every day? A good war sure helps to bury soldiers and lies.
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Post by kenmb on Mar 18, 2023 8:49:02 GMT -6
Banks shouldn't be investing (ie gambling) in anything. That is not a necessary part of their business model in any which way or form. They take in deposits and lend in form of loans. End of story. And then they use due diligence to do this.
But that's not how it works.
For some strange reason we needed 0 to 2% interest rates to create a massive spending spree. This is good for the peasants apparently. To get interest rates at 2% means someone is buying debt at 2%. So houses and land are going up at minimum of 4% a year (and everything else) and someone figures a 2% return on your capital is the best move so they buy bonds? No. Most entities don't buy bond/debt in such a situation because that is stupid. So the central banks are the buyers. Make money out of thin air to buy debt (create capital) that no one wants to invest in.
And so, apparently, banks need to engage in "risky" investments to offset this. Actually no, banks are still earning interest on their loans. And they also should know what the price of capital is and adjust their rates accordingly. I can get a deposit at Royal Bank today for 1.6% return while the RBC loans it out at 6%. Hmmm, does that sound right?
If a bank needs capital then it would come about by offering 7% for deposits and loan out at 6%.
There is nothing free market or rational about any of this. It is the result of central planning. And yes, they knew exactly what they are doing.
If banks are actually innocent because they were really that dumb in understanding their own business then our governments should be tearing apart the entire central bank operations boards and all their advisors for making the worst decisions on the planet and utterly failing at the most basic attempts to advise everyone to take a different course. And perhaps the media should take some blame for finding no experts at all raise alarms, and government should be gutted for being totally clueless as to what it's own central bank is destroying.
So the basic discussion is - who is responsible for all this and how and when will they be held accountable.
It didn't just happen. Our system is centrally planned so when do the central planners get questioned as well as those who are tasked with oversight.
As I say, we are told daily who is controlling these things, so when do the inquiries start.
24/7 news programs and no one can figure out the most basic questions.
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Post by kenmb on Mar 18, 2023 8:53:11 GMT -6
Interesting that gold is a worthless element and yet central banks are hoarding it. You would think they would be buying rare earth metals for electric cars since those are the future. But no, they buy gold for some stupid reason. Probably to keep the peasants from doing stupid things like owning it, put it out of reach of such foolish spending. It also helps to create 200 oz of paper contracts for each once of gold to help control the price, and have the SEC/CME change margin requirements now and then if gold demand goes up. Just to make sure principles supply and demand and free markets are maintained.
Some people may find all this curious. But for 99.99% of people it less important than 23 different genders.
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Post by shmiffy on Mar 18, 2023 18:10:51 GMT -6
Monday is going to be interesting. Discount window for US banks is way higher than 08.
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Post by kevlar on Mar 18, 2023 20:45:28 GMT -6
Doesn’t sound good for Credit Suisse
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Post by northernfarmer on Mar 19, 2023 13:21:48 GMT -6
Speaking of paying bills as per the banking system we are forced to use, I've been paying some monthly bills with a credit card with the automated phone system some companies offer so that I can create a few points on the card ( of course paying off the credit card balance each month as paying 20% a year on outstanding balances doesn't make for sound business practices as an understatement ) and last month when I went to pay my telus phone bill the recording warned me that they would probably charge me 1.5% for the bill payment. Now it used to be that such an action was totally illegal from a credit card/merchant stand point to over charge beyond what a cash or cheque transaction would cost and the merchant would have to swallow the cost if they wanted to accept a credit card. I assume that must have changed and are now able to pass on the cost to the consumer. Has anyone run into this issue with any other companies ?. I realize Nutrien as one example won't take credit card for fertilizer purchases but will for chemicals and seed, but that is different from a company charging/passing on the charges to the consumer.
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Post by OptimallyDismal on Mar 19, 2023 15:21:32 GMT -6
That just changed in the last month or so, it was in the news but but a minor item, I doubt many noticed it either!
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Post by northernfarmer on Mar 19, 2023 16:44:37 GMT -6
I will expect that to creep in as a trend then as I don't see why others won't follow along and also charge a fee for a credit card and in so doing will no doubt reduce the use of credit cards and increase the use of bank cards and less points will be made on credit cards. So I wonder if this fits into their goal of a one world currency with the way it will be constructed and even easier to track all transactions with their back door viewer into everyone's lives, not like a credit card or bank card hides transactions but more than likely holes in the system as far as they are concerned.
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tommo780
Junior Member
Posts: 61
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Post by tommo780 on Mar 19, 2023 21:55:44 GMT -6
Had these shared with me this evening. Generally as mentioned within, when central bankers work on a weekend it's because shit is going to hit the fan when the opening bell sounds. So let's see what we wake up to in the morning! I haven't had chance to listen to this yet but will do in the shop over the coming days but definitely recommend Macrovoices stuff or anything Luke appears on. www.macrovoices.com/1183-macrovoices-367-luke-gromen-usd-update-in-the-wake-of-svb-collapse |
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Post by kevlar on Mar 20, 2023 6:04:10 GMT -6
Credit Suisse shares dropped 62% this morning even after getting bought out 😬
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Post by OptimallyDismal on Mar 20, 2023 9:53:02 GMT -6
It would seem that the "western nations" are headed to CBDC's by many actions, credit, debit, knocking out crypto or taking it over.
The overall goal of a social credit system with digital ID is looking inevitable, but I haven't seen any details of that in the BRICS currency, which if it is gold backed would be rather difficult to pull off, assuming it becomes the world currency.
So right now Putin is the main thing keeping us from worldwide CBDC, makes me think there must be quite a price on his head, which is obvious by "their" actions.
I think the biggest move will be driving people into a state of poorness so that the guaranteed government sponsored income will have so many people enslaved that they will allow or even demand that these programs proceed.
As well the failure of the present system is required as it is not sustainable any more so if they can throw the monopoly game in the air and start again it would be perfect.
As usual it will probably take a war to really enact all this BS so it is now a matter of time, could be a good idea to hang on to the physical precious metals, brass, lead, and blued steel.
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