When the government tells you the Banking system is safe do you

Believe them?


Serious question. How safe do you feel with our banking system?

The cynic in me automatically believes the exact opposite. If they are telling us it’s safe, it much be much much worse than I imagined!
Please take this all as speculation.

If banking is safe, there is no need to say so, it is a fact, it either is or it isn’t.
Two banks have had issues, one was the 16th largest, but they were not banks that I’ve heard of in the past. I think most of us
Can gather they were doing illegal things and should be punished and the customers would get funds from insurance…but…
What I’m worried about is if we do hear about banks that are well known…

I’ve heard from numerologists and other tin hat wearers (that isn’t an insult) that Bank of America is next. I don’t know if that is true or not, but nothing would surprise me at this point.
If that happens, then we’ve got problems.

Is it already happening behind the scenes and we’re like a big Jenga game, one poke from collapse?

a reply to: JAGStorm

Let’s put together some pieces….

Januaryish

Here

January

Bank of America Slammed After Money Suddenly Disappears From Accounts

Bank of America customers said Zelle payments went missing

More recently….

Here

Signature Bank is closed by regulators, the third US bank failure in a week

Same government officials and "experts" who said we wouldn't have high inflation.

Government officials is bad enough. Their job is to serve the public, but we all know their main priority is to spin everything to make the administration look good.

But then you've got these financial "experts" all over TV that lack any sense of professionalism and just want to make Democrats look good so they said inflation wasn't going to be bad. We've seen this in many fields now. Economics, teaching, medicine: they are Democrat activists first and foremost. Their actual job always comes second to that.

Can you really trust either of these sources about whether the banking sector is stable right now?

Absolutely not.

a reply to: JAGStorm

If the government told me that the sun was going to rise in the east tomorrow, I'd go outside.at daybreak to verify... and keep my eyes on the west.

There will be a global systemic meltdown of epic proportions.

The banking system is safe and effective.

originally posted by: incoserv
a reply to: JAGStorm

If the government told me that the sun was going to rise in the east tomorrow, I'd go outside.at daybreak to verify... and keep my eyes on the west.

I needed that morning laugh!

a reply to: JAGStorm

I am with a credit union, but I don't see any systemic risk in the banking system itself.

The rwo(?) banks that have failed, have failed due very specific circumstances and, in the case of SVB, dealt largely with a very specific clientele (tech sector startups and venture capitalists) whose accounts, individually exceeded (often by a huge margin) the FDIC insured limited of $250,000.

Unless you an account on deposit with your bank in excess of that amount (lucky you!), you have very little to worry about. Unless...


"Doomscrollers" like those that seem to frequent boards such as this, through exaggeration, misinformation, and a narcissistic need for drama induce panic in the general population and cause the system to fail for little more than their own self-satisfaction!

a reply to: Mantiss2021

"Doomscrollers" like those that seem to frequent boards such as this, through exaggeration, misinformation, and a narcissistic need for drama induce panic in the general population and cause the system to fail for little more than their own self-satisfaction!

I think we are past those titles. It’s actually hilarious at this point.
People were called crazy when they spoke about Aliens, until the government mentioned it
People were called nuts when they said Covid started in Wuhan, until the government mentioned it
People were called insane when they questioned the safety of the vax, until reports and adverse reactions happened
People were called Debbie downers when they said there will be massive inflation

I have to say narcissistic is a new one. I was called ALL those things above and more, but it’s ok. I have seen which groups have been 100% ahead of the curve.

You know before 2008 there were people that sounded the alarms about the economy and the mortgage market. There were but they were drowned out by the people that said the stock market is only going up, and housing won’t crash. Those early alarmers were called crazy too.

Did it ever occur to you for one second that instead of inducing fear that some of us are actually trying to HELP people.
Maybe some people can’t be helped, that is something else I’ve leaned. But for those on the ledge, take my crazy hand!

Wells Fargo isn't too far down the list. They missed tens of thousands of peoples payroll last week. But someone didn't transfer them the money is the word.

They will get a bailout but not for a month or so.

a reply to: JAGStorm

BTW if you are dealing with the serial doubters in your life and just don’t understand it.

I learned that this is one type of fight or flight mechanism.
We are all programmed differently and some will not believe the storm until it literally hits them in the face.

This is the same reason there can be a tornado and some people shelter under stairs and others go outside to watch.

Think about that. In the past those people that went outside to watch would not have been rescued and the gene pool would have been made stronger……………..

I don't get it Stock Market is all in the green and BTC has jumped $2000 this market make no sense to me no matter how much it falls it always jumps right back .

originally posted by: Ravenwatcher
I don't get it Stock Market is all in the green and BTC has jumped $2000 this market make no sense to me no matter how much it falls it always jumps right back .

That is exactly what was said of the housing market in 08

a reply to: JAGStorm

"Our banking system is as safe and secure as our southern border."
-DBCowboy

originally posted by: DBCowboy
a reply to: JAGStorm

"Our banking system is as safe and secure as our southern border."
-DBCowboy

Perspective…….

It’s very safe if you ask the illegals

originally posted by: JAGStorm

People were called crazy when they spoke about Aliens, until the government mentioned it
People were called nuts when they said Covid started in Wuhan, until the government mentioned it
People were called insane when they questioned the safety of the vax, until reports and adverse reactions happened
People were called Debbie downers when they said there will be massive inflation

Don't forget, the first people who warned about Covid were right wingers and were made fun of by the media. Media downplayed Covid and had all their experts on, including Fauci, to talk about how it was no worse than the flu and anyone concerned about it was an idiot.

They also said Ukraine was a haven for neo-Nazis until Russia invaded. Now, according to the media, there are precisely ZERO neo-Nazis in Ukraine. In fact, no one in Ukraine has ever even heard of Nazis.

a reply to: face23785

Oh forgot to add the Lock ness monster might in fact be a real thing now!

a reply to: Mantiss2021

Markets are controlled by public sentiment. That's an obvious no brainier. When there is no longer any confidence in markets or in government then economies collapse.

The root cause of ALL failure is corruption. The level of corruption we are currently witnessing is no longer sustainable. But it isn't doomscrollers that will spark the panic. MSM and government will do that. What we are watching is a manufactured crisis. This is a controlled demolition of the old global slave system. Out with the old, in with the new.

Just to play it safe I'm moving everything to a Credit Union temporarily perhaps even permanently .

I've never trusted the Banking system myself but it's difficult to do anything without a checking account , Loans , Cars , Housing , Insurance etc etc you always need an account to access these things.

originally posted by: asabuvsobelow
Just to play it safe I'm moving everything to a Credit Union temporarily perhaps even permanently .

I've never trusted the Banking system myself but it's difficult to do anything without a checking account , Loans , Cars , Housing , Insurance etc etc you always need an account to access these things.

To be really safe you should never just have one bank.
I learned this lesson a VERY hard way.

One year during Xmas our account was Hacked at a CREDIT UNION. We were out Xmas Shopping when we discovered our debit card wouldn’t take cash out. Lesson learned!