Banks failing

Not sure I am understanding this.  Do they get info from your bank?  Does it affect how much they will loan you?

I heard last year 1.2 million American car owners had their cars repossessed ! This year it’s only a few months in and they are a head of those numbers

They use a credit app. It does limit the amount they will lend

Platinum is the ultimate gamble in my mind. It is more rare than gold, used to hold a monetary position that placed it 4x higher than gold back when gold and silver were used as money. You can see this on the value embossed on gold vs platinum coins. And as a commodity, it is rare and yet in demand. Remember when they stopped using platinum in catalytic converters because it was too expensive? Gold and silver are most definitely manipulated markets, and the same applies to platinum. So if there ever is an upside to gold, I would say there is a far greater move available for platinum. But since we are in the casino gambling, then this is all just playing long odds and betting against someone else to stop doing what they have been doing for a long time.

And in fitting with banks failing. Remember how those vehicles got bought? Captain summed it up nicely.

You don't get massive inflation, destroy an economy, destroy peoples savings by acting in a responsible, capitalist fashion when lending - I mean owning people via debt- but rather do the exact opposite. You own anyone via debt by lending to anyone dumb enough to take it. None of those new car loans were based on sound financial analysis by the banks. Many of them you never even needed a proven income, if you could breath and go through the steps to buy, then you were qualified.

Remember when debt was used to buy a home, then it was used to buy a car, and now it is debt for pretty much everything.

This is how you destroy things. And then it gets packaged off to us as "banks failing" and "no one could have seen this coming".

Actually yes, it is easy to see once we understand how the world works. For example the US debt is up 50% this year vs last. Remember the governmentand media said they are inflating our way out of debt?

I wonder if people were dumb enough to buy vehicles on the same idea. It will be worth more when I sell it in 2 years. Yeah, sure genius. Except you pay far more for the next vehicle.

Good example with the fishing rod.

Think about that. Use debt to buy a $100 item.

If I said humans are easily programmed, does anyone beleive me yet?

As others have already noted - sales of motorcycles and snowmobiles are dropping off. Why? Not because of a recession, or poor quality products, or seasonal weather. No, it's because people can't get debt to buy.

What percent of people would have used debt to by such an item 30 years ago? Is it because they would have been denied, is it because banks would not lend for such an item, or is it because people would never consider debt to buy a recreational item.

Sure, there are a few who would have, and only a few of those few would not have been able to repay the debt, the majority bought now and paid it off in short order. But not now. Those using debt are a high percentage of those who can't really afford it any other way.

And so the question is where does this stem from? Banks having no regard for lending criteria, or people using debt where they should not?

It is kind of both. But in reality the banks dangled the carrot and people jumped at it. People are easily led.

However if banks really were a capitalist enterprise, putting a price on capital, reviewing risk, assessing sound lending options, then they would not have lent the funds in the first place.

It's quite the system. People are easily led and programmed. Who is at fault. The programmer or those following the program. Both, I suppose.

Some debt is ok. Is a motorcycle or fishing rod good debt? Maybe a mattress? Yet we are told we are prosperous.

Holy cow! I had no idea things were so bad over there. I can send food packages if you like? Wife even has some old G-strings she'll throw in.

Hmm, don't think a second hand g-string for wife/girlfriend fits into the mentality of using debt to buy a fishing rod which obviously also requires debt to go on a trip to use said fishing rod. I would expect debt would be used to buy a new g-string, have to treat the gal now and then. But, on the other hand, one needs to save money somewhere to pay for fishing rod so perhaps that is where one goes with used.

Saw this article this morning, maybe people aren't aware of this stuff that things like precious metal rigging is an actual thing, not "conspiracy talk", or better known as conspiracy fact.

3 traders from JPM were actually convicted, along with others previously at other banks doing the same thing. And JPM got a deferred prosecution agreement (what a wonderful arrangement from a "justice" system) and paid nearly $1B. And gets to keep doing their same old business. What other business can be convicted and fined $1B and still keep doing the same things?

This isn't really news. It is basically repeating how the world really works. This little quote sums it up:

“These defendants undermined public confidence in U.S. commodities markets by manipulating prices to create the false appearance of supply and demand”.

All of these prices based on fake supply and demand also get instantly telegraphed across the world in electronic price feeds and affect everything from gold and silver reference rates, to pricing of swaps and derivatives, to pricing of ETF trades, to pricing of physical transactions between miners and refiners and wholesalers, and also get embedded into retail sales prices online and in gold stores across the world.