The Pending Financial Collapse

Let’s talk about it.

I’ve heard sooo many different things.

I’ve heard the banks will take your 401k your savings your checking etc.
I’ve heard the ATM will just shut down.
I’ve heard you will only be able to take out a limited amount.
I’ve heard you total collapse to the likes of the Great Depression BUT BUT BUT oddly, the few “experts” i’ve heard it from all agree it won’t be as bad as the Great Depression but it will be worse than 2008.

The small shutdown of Bank of America was a small scale test.
There are banks overseas that aren’t allowing withdrawals.
I’ve heard more mass layoff and then a few more interest rate hikes will cause the crash.

I’ve heard this is how they roll out Universal Basic Income to pacify the masses. Perhaps they offer this in a digital form.
What have you heard and have you heard any timelines to any of this?

Jokes on them what are they gunna do lock me out of my negative balance.
1/3 of Canadians have NO retirement savings at all. 1/2 have NO savings whatsoever and go cheque to cheque.

www.bnnbloomberg.ca...

Pretty similar in America too

www.cnbc.com...

These numbers are before the recent price hike on every aspect of living.

So come at me bank can’t take what I don’t have in my accounts.

I do have savings tho just not in the bank cash money, gold, a wood pile….a garden.
a reply to: JAGStorm

It's not that it is happening organically, it's being made to happen to implement UBI, the digital dollar, and other tracking and control measures.

or that seems to be the consensus to varying degrees among those with conspiratorial theory mindsets.

I'm of the opinion it is organic, but TPTB has put themselves in positions to take advantage of it mostly financially if they get some power influence and control, thats just a plus

a reply to: JAGStorm

This isn't taking into account people like me who have investments, tax free, commodity's and utility investments that live off the profits nor does it take into account SS benefits. Things have to get many times worse than 2008 for municipal bonds to be revoked and for utilities to cease dividends.

Nor do I keep any money in checking, disbursing my monthly investment income to various credit cards to pay them off each month. Can't take what I don't got. As far as cash goes, my investment account is also a checking account, able to draw up to 20k a day.

My 401k is long gone onto greener pastures where I can make far more.

I believe we are going to have to be prepared for anything but hope for the best. HOPE is all that brings you back from rock bottom. Don't sell Hope short (financial pun intended). Don't panic and liquidate. Have barter for things if money goes wonky. Own enough of your own land somewhere you can grow food on, and go to if you live in the city for peace and quite.

a reply to: JAGStorm

I don't think the bureaucrats & powers that be have used all of their ammo yet via kicking the can down the road/implementing "standing financial facilities" (like the Standing Repo Facility they launched during the repo crisis in 2019) to warrant controlled demolition of the system yet, but I do think we're close than we have been ex-2008.

a reply to: JAGStorm


on the near term horizon (2025) there will be 2 prominent financial Platforms that Underwrite the hodgepodge of currencies/fiats/cryptos----- the SWIFT and the BRICS

but Swift & Brics will be overwhelmed by too many currencies/Fiats/Cryptos/CBDC/commodities & baskets of coin-assets that Swift & Brics will be abandoned for a 'Federation Credit System' propped up by the 10 top nuclear powers including Israel (2 030~)

originally posted by: billxam
a reply to: JAGStorm

This isn't taking into account people like me who have investments, tax free, commodity's and utility investments that live off the profits nor does it take into account SS benefits. Things have to get many times worse than 2008 for municipal bonds to be revoked and for utilities to cease dividends.

Nor do I keep any money in checking, disbursing my monthly investment income to various credit cards to pay them off each month. Can't take what I don't got. As far as cash goes, my investment account is also a checking account, able to draw up to 20k a day.

My 401k is long gone onto greener pastures where I can make far more.

Need an assistant, butler, or intern, or want to be a mentor Im very hardworking and honest and have an updated resume.

Seriously this needs to be taught every year in high school, it ought to be mandatory. A long with how to do taxes and other real-world situations

With overpopulation and dirt wage jobs, UBI is probably the only viable choice. Technology can and will replace humans at most tasks, and only so many programmers and IT people are needed. So unless we do the right thing and find a way to cut the population to 1900's levels, UBI os the only choice

Personally I think this civilization is a total wash. Just my opinion. But UBI would be a temporary bandaid.

We cut out all those $600 toilet seats and billion dollar weapons we use to export terror around the world and it becomes very affordable. $600,000,000,000 per year is wasted on feeding the MIC.

a reply to: JAGStorm

Talking about the digital dollar. J am on holidays interstate.

The hotel does not have any cash vending machines, it’s either touchless credit card.

Or scan a we code to pay.

Even the clothes washing machines you have to scan a qr code select the machine. Pay on the app via credit card the sand applies to the washing powder.

It’s funked.

How do we fund UBI?

Where does money come from to give to people who don't offer a thing for society when they are healthy and capable of caring for themselves?

I love the idea of feeding the hungry. We should work on that 1st and deal with the Over zealous who think Man is going to destroy the Earth when we are destroying only ourselves with lies being presented as undeniable truths. They are hell bent on reducing the food sources in an obvious attempt to reduce the "useless eaters". We will need to have our own barter for a while for us to rid ourselves of this. It will require either the collapse we hear is coming for 50 years now to hit or an actual global reset like the Q anon types think.

Reset is likely happening no matter. We need to make sure it eliminates the path to totalitarian takeover by financial institutions playing the long game like the Chinese elders do. I saw where the chickens in the US are not getting the proper feed for winter production of eggs because of the corporate interest to hurt the small farmers who sell eggs and the corp replaces the lost sources at the local market place. They have watered down the quality of the feed sold to the small guys while keeping their hen houses rolling along merrily.

originally posted by: JBurns
With overpopulation and dirt wage jobs, UBI is probably the only viable choice. Technology can and will replace humans at most tasks, and only so many programmers and IT people are needed. So unless we do the right thing and find a way to cut the population to 1900's levels, UBI os the only choice

Personally I think this civilization is a total wash. Just my opinion. But UBI would be a temporary bandaid.

We cut out all those $600 toilet seats and billion dollar weapons we use to export terror around the world and it becomes very affordable. $600,000,000,000 per year is wasted on feeding the MIC.

originally posted by: Justoneman
How do we fund UBI?

Where does money come from to give to people who don't offer a thing for society when they are healthy and capable of caring for themselves?

]

$$ for the reset is capped at the daily value of the certified available natural-resources & 'fossil fuels/energy' that is not being refined or for-sale in markets

estimates are the USA hydro-carbons Alone (oil/gas/etc) is 15 QuadTrillion ~ + minerals/water/soylent-green/et al....is additional DeepStores of resource wealth and dont forget that Basic Income spent on consumerism generates Money Velocity or capital-growth

a reply to: St Udio

That makes no sense to me. I am asking who is providing that? Do we just print money and hand it out like candy ? If so hyperinflation will strike fast. How would it matter if Joe Sixpack worked a real job and helped build things or repair things while that UBI says stay home and party he doesn't need a career?

a reply to: JAGStorm

With the advent of AI UBI is inevitable I am afraid add in the green new nazis and pretty soon you wont be able to work, they say get a degree to get into stem, but once AI gets more refined that will be more efficient in stem than people is what I have heard is the prevailing thought.

Got to have some peons, so cant just kill em all off, need the breeding stock to keep the genetic line viable going into the future.

a reply to: Irishhaf

Agreed Irishhaf, whatever we think of it, it is going to have to become the norm because the population increases while the need for human labor is always decreasing. You are spot on, AI and automation is going to come to a point where one person (if lucky) maintains a whole mess of machines doing the work hundreds of humans once did. With our current population that would be unsustainable, let alone adding each new mouth to feed

I don't have all the answers but there is a certain inescapable logic behind UBI

a reply to: Justoneman

I wish I knew Justoneman, I don't really agree with it but I see a sort of inescapable logic behind it. Maybe not in any of the proposed formats even, but just this man's opinion it is the best bad choice for what is coming

I think funding it would be a lot easier than the other implications though. There is a $600,000,000,000.00 per year defense budget that is only neccesary if we want to continue another century of policing the world. If we defend our borders and modernize the nuclear stockpile, invading the US will be impossible. MAD detterence still applies.

With other entitlements presumably out the window, each person gets the same amount of money to work with. What you do with it is entirely your choice.

Where does money come from to give to people who don't offer a thing for society when they are healthy and capable of caring for themselves?

I didn't have a good answer, but St Udio below me had a great one!

With basic needs met, who is to say they won't turn around and offer something good? What if Tesla had been sent a check every 2 weeks imagine what he might have accomplished? He was considered a kook during his life by quite a few

Maybe we are just looking at it all wrong

Or maybe its the worst idea in the world, I don't have a good answer there

Reset is likely happening no matter. We need to make sure it eliminates the path to totalitarian takeover by financial institutions playing the long game like the Chinese elders do.

That would seem to make revolution leading to their demise very likely then

a reply to: JBurns

What if Tesla received a check every two weeks for doing nothing? Then he might have decided to be lazy. It is a slippery slope that starts for some people who don't have a purpose in life as many tend to get themselves into mental health issues. Or they get stuck in a Gov plantation trapped with no way to improve themselves at all.

a reply to: JBurns

Part of the reason I went IT over programming at my age I should be good till mandatory retirement age.

I expect AI to do the scripting soon.

I have no idea what all the other politics suggest, but we NEED to keep a system with paper cash. I'm not in any way suggesting credit/debit is a bad thing, but as long as we hold paper/metal money, we hold on to the idea that we can buy/sell.

a reply to: mr-lizard

As long as its based on limited resources like precious metals I am A-OK with it.

Allowing them the option to mint more at the drop of a dime is simply theft in another form. When you devalue the currency in my hand, you are stealing from me.