2023 Banking Crisis

ThunderHorse

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It's a big deal. tens of thousands of people lose their jobs with no warning and no severance. Also, virtually all of the major tech startups go down with the bank. No "bailout" but the Fed is using emergency measures to give depositors their money to keep that from happening. Politically the President can't let the banks get run on like that, it would destroy the Dems in 2024.

SVB, Signature Bank Depositors to Get All Their Money as Fed Moves to Stem Crisis
 
Here's a good explanation of what's happening. ETA: I don't like that he's recommending running to the bank to withdraw your money. If too many people do it at the same time, the bank collapses.

 
President Biden just insured all woke banks and social engineering initiatives/woke ideologies supported by those banks are insured by the American taxpayer. 30 banks were halted from all trading.

These banks were horribly mismanaged and will now be the benefactor of direct compensation by the government, by way of printing more money, and causing inflation to rise, yet again.

There was no vote. There was no chance for discourse by congress. There was no due process.
 
A bank heavily involved in two of the largest scams running today (crypto and green initiatives) suddenly collapses? I'm sure it's all unrelated...
Disagree on decentralized crypto, but love everything else. SVP poured money into ridiculous green and "woke" initiatives, and got caught lacking. There will be more collapses and JPow gonna lose his mind.
 
I don't know crap about investing and automatically anything related to math makes my head hurt. But...China happy


“Easing expectations of further policy tightening by the Fed is definitely not a bad thing for China stocks,” Wang said in the report. “When overseas risk appetite and US stocks stabilise, foreign capital will flow back to A shares. China’s economic recovery will not be altered and what we might see is a strong economy in China and a weak one in the US.”


https://www.scmp.com/business/china...ks-tempering-us-interest-rate-rises-brokerage
 
Disagree on decentralized crypto, but love everything else. SVP poured money into ridiculous green and "woke" initiatives, and got caught lacking. There will be more collapses and JPow gonna lose his mind.

I don't know the ins and outs...barely anything about finance, but I am 100% positive that crypto and green initiatives are absolute dog water. Central this and decentralized that, I don't give a tinker's damn, I just know that crypto and green anything are a scam.

I'm all for discourse and meeting in the middle on many topics, but if I'm to discuss those two...that's my starting position. Scam. Dog water. Trash. Horse shit. Karine Jean-Pierre press conference. Lauren Boebert anything. Nickelback. Pakistan. Dallas Cowboys. Burnt popcorn. That side of the spectrum.

To quote Public Enemy. Don't. Don't. Don't. Don't believe the hype.
 
I don't know the ins and outs...barely anything about finance, but I am 100% positive that crypto and green initiatives are absolute dog water. Central this and decentralized that, I don't give a tinker's damn, I just know that crypto and green anything are a scam.

I'm all for discourse and meeting in the middle on many topics, but if I'm to discuss those two...that's my starting position. Scam. Dog water. Trash. Horse shit. Karine Jean-Pierre press conference. Lauren Boebert anything. Nickelback. Pakistan. Dallas Cowboys. Burnt popcorn. That side of the spectrum.

To quote Public Enemy. Don't. Don't. Don't. Don't believe the hype.
Lol fair, and plainly spoken. The shit coin/pump and dump aspect of crypto is 100% all the things you said. The rise/fall of NFTs as a fad is a great example of the scam portion.

When we talk about blockchain technology- bitcoin and ether, to a lesser degree cardano- I think that's where we can divide the scam from the world-changing utility and opportunity to protect yourself from things that are happening now.

Centrally controlled crypto assets/stablecoins (like CBDC) are 110% all bullshit and not in the realm of "cool" or a "good idea".
 
These banks were horribly mismanaged and will now be the benefactor of direct compensation by the government, by way of printing more money, and causing inflation to rise, yet again.
History repeated itself in a very short time period. 2008 housing crash. Banks passing out house loans to people that wouldn’t qualify at a rent to own center. If I remember correctly it was pushed by the government.
 
Pixie dust trades…

I’ve watched crypto with a high degree of cynicism since its’ inception. 20 or so years ago it hit $4.00 & everyone blew in their collective shorts. Still wasn’t tempted & the thought then changed to blockchain & how useful it can be. Last time I looked it was searching for a home.
Bitcoin was to be the future of banking. Yeh…sure.
 
Pixie dust trades…

I’ve watched crypto with a high degree of cynicism since its’ inception. 20 or so years ago it hit $4.00 & everyone blew in their collective shorts. Still wasn’t tempted & the thought then changed to blockchain & how useful it can be. Last time I looked it was searching for a home.
Bitcoin was to be the future of banking. Yeh…sure.

Blockchain has a place in corp to corp transactions, especially supply chain and logistics transactions.
 
Dog water. Actual Dog Water: Shark Tank Petrol Dog Drink Update 2023 | Season 9 I thought this would go through the roof because look at these yuppies and all that they do for their dogs. Then the pandemic happened and of course it never took off though there are other examples of Dog Water out there.

Dogecoin: I bought a few thousand for about a thousand back in 2021. It tanked, but I'm still hodling on. My take; these are worthless ATM and for the near future, BUT, and this is a big but, these type of "banking crashes" large scale bailouts etc. that happen every few years will last longer than the pandemic downturn. People around the world will see the legit ones as a place to store cash, trade, whatever as governments increase control over central banks, money transfers, track payments and all that.

Crypto is here to stay it's just a matter of time before people start utilizing it again like they started to in the past years.
 
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