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Post by kenmb on Apr 3, 2023 9:28:53 GMT -6
I think that is where our 30 day (or other short) memory span comes in. We gets "news" to say things are being investigated and the system is working to enforce rules and all will be well - then nothing happens. The very end of the movie "the big short" was wording saying that with all the blatant fraud, people purposely not doing their job, incestuous relationship between government regulators and banks and all the other crap that went on that destroyed the world economy in 2008, that one low level banking guy went to jail. One.
I posted in the past the billions of fines banks pay and carry on business as usual. No other single business can get fined $1B on one single case because of outright fraud and carry on. No bank has been shut down for its criminal / fraudulent activities.
So yes, even when we are given the appearance of oversight, investigation, prosecution and consequences - even then it all amounts to nothing.
Until the system changes, we won't know of anything really being done. I mean really change. In a way we won't recognize. Because we think our system right now is legitimate and works well. We actually have no idea what freedom and protection of the peasants would begin to look like. I have a hard time wrapping my head around it.
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Post by kevlar on Apr 5, 2023 17:55:11 GMT -6
Some interesting stuff going on now with TD bank, I’m not great at explaining this and honestly don’t fully understand it all, but right now it’s the most Shorted bank in the world, and basically that means people are betting against the profitability of the bank. It’s got high numbers of loans in the housing market and that’s expected to fall fairly hard, and they bought one of the banks that was in bad shape awhile back and analysts say that they over paid for it.
Gold got over $2000 yesterday, seems like there must still be some unsettled people out there .
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tommo780
Junior Member
Posts: 61
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Post by tommo780 on Apr 5, 2023 19:12:39 GMT -6
There's plenty of different numbers out there but they're all in the trillions, and that is the amount of commercial real estate debt that needs rolling over in the coming year or two that was last rolled at pretty much zero during covid. Not sure whether it will be the next domino to fall but whenever it does it's going to go with a thud and whatever banks are tied up with it will likely take a beating unless we've got back to "print whatever is necessary" by then.
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Post by shmiffy on Apr 6, 2023 2:03:21 GMT -6
Some interesting stuff going on now with TD bank, I’m not great at explaining this and honestly don’t fully understand it all, but right now it’s the most Shorted bank in the world, and basically that means people are betting against the profitability of the bank. It’s got high numbers of loans in the housing market and that’s expected to fall fairly hard, and they bought one of the banks that was in bad shape awhile back and analysts say that they over paid for it. Gold got over $2000 yesterday, seems like there must still be some unsettled people out there . blakestone defaulted on huge amount commercial loans to Charles Schwab. TD is tied in with Charles Schwab. |
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Post by Bigtalk on Apr 6, 2023 17:12:54 GMT -6
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Post by bobofthenorth on Apr 7, 2023 15:15:13 GMT -6
Some interesting stuff going on now with TD bank, I’m not great at explaining this and honestly don’t fully understand it all, but right now it’s the most Shorted bank in the world, and basically that means people are betting against the profitability of the bank. It’s got high numbers of loans in the housing market and that’s expected to fall fairly hard, and they bought one of the banks that was in bad shape awhile back and analysts say that they over paid for it.
Don't get overly caught up in the BS. TD's short interest percentage was considerably higher in mid 2022 than it is now - like 3x higher. Even then it ranked relatively low c/w other short targets. The current short interest doesn't quite touch 1% of the float. Could that 1% be right and everyone else is wrong? Absolutely. Is it the end of the world? Not likely.
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Post by badaltitude on Apr 8, 2023 5:45:57 GMT -6
TD is probably the most politically correct, woke bank in Canada. I wouldn't doubt they were first to start freezing Convoy participants bank accounts. Very likely taxpayers will be bailing them out if they run into trouble. But if they went down I wouldn't be too sorry for them.
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Post by kenmb on Apr 9, 2023 12:12:25 GMT -6
Interesting concept, isn't it. Capitalism is built on being a profitable, efficient, best at what you do business and so generate a return on investment. Then came the idea that you could let others own part of your company. And if you didn't do well then you wouldn't attract that extra capital from share buyers.
Then along came the idea that you could place bets that a company would do badly. Wasn't good enough to simply not hold shares. Stii can't figure out where capitalism fits in with short selling but we are a "capitalist" system so it must be so. And capitalism is still failing because central planned economy (ie not capitalism) is now seeing real estate implode. But the good news is farmland never goes down in value. Or so I am told, except when it does like 1983 to 2003.
Still no implosion of our banking/financial system. Apparently someone figured out that if you can create $100T out of nothing to destroy all aspects of what capitalism and free markets once was, you can also create a few $billion to plug some holes.
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Post by kevlar on Apr 13, 2023 7:31:50 GMT -6
Metals are on a pretty good run again, still must be some uneasy people out there.
I’m not sure if at any time in history there have been so many countries run into the ground at the same time by their leaders. I think a huge majority of people have completely lost any faith in their political system and can’t figure out where it’s headed and why. I had a laugh yesterday reading on another forum which is pretty liberal, someone asked what people thought the problem was with the US and why it’s in such a tailspin. Not one person answered and I’m pretty sure I know why. Just like all the people on the old forum who hated Trump so badly and wanted him out at any cost, then when asked how their lives improved with Biden, they wouldn’t even give any kind of response. There is absolutely no question that the liberal governments of the world are what have gotten us to where we are, but all government is the problem. When you have third world countries being run better than us, it shows where the problem lies.
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Post by kenmb on Apr 13, 2023 8:02:14 GMT -6
The largest criminal organization on the planet, also known as "government".
Interesting that the entire G7 or G20 or whatever we want to call them, all decided at the same time that the best solution for everything was a massive debt expansion and destruction of their currencies in unison, thus creating massive inflation. And all saying "we can inflate our way out of debt".
Not a single entity in any of these countries involved said "hey, wait a minute, what you are proposing to do makes no sense at all". And yet here we are. And no, it's not because none of these entities simply couldn't understand the result of 0% interest for 13 or so years.
But of course we have totally independent and elected governments in all these countries so it simply is that everyone must be really, really bad at doing their jobs.
Metals doing ok. Until "someone" decides to dump a massive amount of paper contracts backed by nothing onto the "markets", and drive the price down. Wonder how many paper contracts are controlled by the central banks who create their wealth out of thin air.
They say to don't fight the Fed, so owning some metal is basically a bet as to whether or not this control ever ends.
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Post by cptusa on Apr 13, 2023 9:10:04 GMT -6
The divide in this country is getting pretty deep. JP Morgan CEO advocating using eminent domain to sieze ground for solar and wind.
It will be interesting to see the division lines in the next civil war. I don't think it will be as clear as tge Mason-Dixon line but more of an urban-rural division in every state.
Should be a short war. Our side has the guns and knows how to use them. The other side can't even figure out which bathroom to use.
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Post by Oatking on Apr 13, 2023 10:24:05 GMT -6
CPT , Is the divid still 50 50. I think trumps arrest was in some ways a good thing where it gives way for a rallying cry. All this green crap the liberals are pushing does not make sense now. Maybe in a hundred years but lets live for today!
I heard crypto bit coin was on its way back and was predicted to hit 40 0000.
For you guys with any guns not reported, he is a quick story....... A friend of mine passed away in his sleep last week, One of the first things the police wanted to know that morning was where all his guns were. Gee whiz, he was 90 years old, give the guy a break. I was told they did an extensive search of his apartment. This just sounds like another stupid trudeau and biden idea where you harass the law abidding folks and let the criminals run free.
Oh and yesterday trudeau was in Winnipeg dissing our premier. He also was bragging about the money he was giving away to families as a climate action rebate. I swear I almost thru my dinner plate at the tv when I heard him speak.
Do you really think gold or silver means much any more. I think no.
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Post by kenmb on Apr 18, 2023 9:25:45 GMT -6
It depends what is real in our world. Do we take 90%, 50% or 10% as fact? I am around 10% maybe and so it is getting very hard to base a view on anything these days.
Our world says our own central banks hold gold as a high value item. For some reason us peasants are told gold and silver does not mean anything anymore. Where as crypto is of value. So one really needs to think on that. Unless of course one beleives we are told 90% truth and so gold and silver are just a commodity.
But then we need to square that belief that gold is just a commodity while the pillar of our financial system holds gold and moves it up from a tier 3 asset to tier 1 asset a couple years ago. The Basel accords of around 2021 I think will explain that.
So as peasants, are we the smarter ones to not value gold where as central banks are stupid, or is it the other way around? Somewhere someone is very wrong.
My guess is the way the world really works is gold is the unit of trade. There are two world's which is our world and their world, or the old saying "it's a big club and you I are not in it". That club uses gold as value. Because that club owns the printing press. If you are in the club and looking to acquire an asset off another member would that other member accept your dollars when he knows you own a printing press?
But maybe gold isn't of value to them either, maybe it's something else. But it sure isn't dollars or crypto. Yet that is what we are told to hoard.
And us smart ones, we don't hold dollars. No, we hold stock certificates instead. Even though those companies don't actually follow any principles of capitalism, we still buy their shares because their company gets better and better. Even during covid lockdowns, even when they add debt to buy back shares. Stocks only go up.
Us peasants live in quite a world. The only question is what part of it is real.
We are told gold is $2000/oz. We are told this so we believe it. Why do we believe it though? In our world that is the value of gold that the peasants use. Because we have free markets and capitalism and the price of gold is set that way and so is fact. We must accept it. And as I mentioned many times, you can also buy an infinite number of paper contracts to represent an oz of gold. So we don't actually have free markets, capitalism or supply/demand yet we accept that $2000/oz is correct because free markets, capitalism and supply / demand says so.
When do we start questioning such things?
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Post by northernfarmer on Apr 18, 2023 16:16:55 GMT -6
On the topic of banks and conning one into falling for some scheme in which they will collect fees, today I had an offer from CIBC bank which I only started dealing with a year ago because Costco switched credit card companies and moved me over there like they did to all Costco clients that used the prior credit card Costco was using. The offer is dangling a few carrots, one that they are quick to hand over 150.00 Costco digital shop card which of course can only be used at Costco and they even give a suggestion of buying a Smart TV at Costco ( hmm, why a TV that can snoop on the people in the house unknowingly ). Why the freebe Costco card at all, well CIBC wants to con the credit card user into opening a CIBC "Smart Account" and a further incentive to do so by way of earning up to a $400.00 welcome bonus and pay no monthly fee for the first 3 months. Of course its a limited time offer to push one into doing something quick as it ends April 28th.
I assume most banks play these con games to get clients pulled away from another bank.
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Post by OptimallyDismal on Apr 18, 2023 21:54:46 GMT -6
We got a CIBC credit card with a $60 credit on it when we got our Costco membership, we haven't activated the card yet, I really don't need another card, but I suppose I could get $59.99 worth of gas and carry a 1 cent credit, they would probably like that.
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