Is Armageddon Upon Us????

[ronsatspokane]

Did the FED just give money to depositers. Which came first the chicken or the egg ?

All money comes from the citizens one way or another. Federal, state and local governments and their affiliates are the hired help of the individual citizen. Their role is to perform duties wherein the economies of scale prevent the individual from being sufficiently effective. Duties like protecting and defending the US. Things have gotten a "bit" upside down. The FED will now take your money and give it to those who had millions in unsecured deposits. The scam is referred to as privatizing gains and socializing losses. Both parties feel it is their duty to socialize the losses of their particular constituents. As we saw in 2008 and we are seeing again. In my view it is a criminal activity. Theft pure and simple.

 

[22BRGUY]

Yup…..worked well for Kennedy…….

Good Point! And now we have the best politicians money (er currency) can buy!

 

[22BRGUY]

Call your Congressmen / Women and Senators to, LIMIT the "Bailout" to, the FDIC Insurance $$$'s, ONLY !
And to, "Clawback" Funds from, Management !!!
I just,.. DID !
Will,.. YOU ????

"Give me control of a nation's money and I care not who makes the laws"
Amschel Rothschild
ie: Congress is irrelevant.

 

[ronsatspokane]

Good god man. You sound like an apologist.

Dusty, no mater where it happened the Feds would have stepped in . Matters not which bank started this but the fact that a major run on regional banks started to develop Ala social media. The big factor with SVB was not where it was but that average balance in play was about $10mil. That's a lot of cash moving fast.
Much the same as 2008-2009 which many today still do not understand, they did not stabilize a couple banks, per se, they stabilized the entire regional/community bank system.

And many argued that it was the wrong thing to do. The privatization of gains and the socialization of losses are now the standard. You (and I) now get to pay for poor management descisions and the whims of politicians. Wealthy democratic donors stood to loose tens of millions of dollars. They knew the same rules you and I knew. 250k is insured by the FDIC. Looks like they knew more than the average citizen did. They knew that their political allies would never give up the money flowing into their campaigns. The bailout was criminal in 2008 and is still criminal today. Hopefully we get a president who will put a stop to it and jail everyone involved in the corruption.

Even today, how many of these internet financial gurus drone on about taxpayer billions spent back then
How many realize that every single dime spent by the treasury was paid back over a few years....every single dime, plus an average ROI of about 7%/year. Pretty good investment for the US taxpayer I'd say.
The Feds stepped in to save THE SYSTEM not individual institutions.

You still do not understand where the money comes from and yet you tell us that you spent a lifetime in banking. Who paid who back? The banks took earnings from all depositors money (said earnings being derived from other depositers as in loan interest and fees) and gave it to the fed. Who is the fed? The fed is an agency of the federal government. Who owns the federal government? The citizens (including those bank depositors) own the federal government. It is a shell game that allows some to accumulate wealth and socializes their losses when they make bad bets.

P.S. Everybody is going nuts about inflation, which will, in fact come down, but nobody seems to recall in post meltdown USA, for years......literally years, the biggest threat to the country was deflation......a far more serious issue the Feds do not really have any effective tools in the tool box.
In a 'what have you done for me lately" society, people are cringing about 4%-5% interest rates that, for most of our lives, we'd kill for. My first house I got a nice 15 3/4% mortgage rate on.
0% is not normal.... 4%-5% is normal...historically.

Inflation may come down but it will never reverse. Those living on fixed incomes will suffer forever. I can tell you as a retired person that inflation has significantly changed my view of what I am willing to spend money on since many goods and services have now been priced out of reach. Perhaps your lifetime in banking provided you with the kind of wealth that affords you the luxury of waving your hand at 9 percent inflation but the vast majority of your fellow citizens do not have that kind of wealth. And it is not just the those living on fixed incomes, many of those who are working are living paycheck to paycheck. I know some of those people. They put in more than your traditional banker hours and still struggle to make ends meet. They are the very people who are paying for the socialization of losses at SVB. Consider the impact of the public policy you are supporting and the shell game you are playing. It is entirely possible that the F^&*tards you elected to represent you will remove all peas from the shells and you will come up empty handed.

 

[TRSR8]

Rarely have I read so much unadulterated misinformation from a single human, another example of the “ reading for understanding” folks……senior division.
Always nice to see every single popular internet axiom in a single post.
And for the record there Mr. Buffet, not once did I imply support for anything….merely reporting, plus, nowhere did I indicate I was in banking.

FYI. Not a single taxpayer is paying a dime for SVB losses…..management and shareholders are. Maybe start your education researching that. Govt is backstopping them, not underwriting them, they will be merged/absorbed by another institution.

 

[22BRGUY]

Hopefully we get a president who will put a stop to it and jail everyone involved in the corruption

Presidents don't make laws, Congress does...unless we now live in a Monarchy or
Dictatorship.

 

[ronsatspokane]

Presidents don't make laws, Congress does...unless we now live in a Monarchy or
Dictatorship.

Time was when that was true. Presidents know often rule via presidential decree regardless of the law and who is responsible for creating said laws. They no longer care and are rarely challenged. When they are challenged it can take well into the next administration for the challenge to reach the SCOTUS. It feels very much like we have transitioned to monarchy. This is especially true within some states where a small region rules a large amount of land and the populations of that land.

 

[TRSR8]

22BRGUY, you might just as well debate this guy. Luck to all, I need a sedative .

 

[ronsatspokane]

Rarely have I read so much unadulterated misinformation from a single human, another example of the “ reading for understanding” folks……senior division.
Always nice to see every single popular internet axiom in a single post.
And for the record there Mr. Buffet, not once did I imply support for anything….merely reporting, plus, nowhere did I indicate I was in banking.

FYI. Not a single taxpayer is paying a dime for SVB losses…..management and shareholders are. Maybe start your education researching that. Govt is backstopping them, not underwriting them, they will be merged/absorbed by another institution.

Nice to see propaganda in it's purest form. It seems to be everywhere these days. Everyone forgot who runs the show, who pays for it and who owns it. They also forgot who creates wealth. They have become government dependents who worship their hired help as if they were their mommy and daddy. It's disgusting in the extreme and THE fundamental problem we face in the US.

 

[Bill K]

Not to worry, so Biden says, Depositer's will be covered, however stock holders and some others will not be.
We will see.

 

[redrockranger]

Nice to see propaganda in it's purest form. It seems to be everywhere these days. Everyone forgot who runs the show, who pays for it and who owns it. They also forgot who creates wealth. They have become government dependents who worship their hired help as if they were their mommy and daddy. It's disgusting in the extreme and THE fundamental problem we face in the US.

Where did you go to school or did you ?

 

[J.d. Popkes]

Nice to see a thread go unlocked through a good spirited debate.

 

[Nick Caprinolo]

When I posted this, I never believed it would garner this much interest.

 

[ronsatspokane]

Where did you go to school or did you ?

6 years of college followed by 45 years of real education at the school of life. I like to think I've seen it all but the well of stupidity keeps getting plumbed ever deeper.

 

[ronsatspokane]

When I posted this, I never believed it would garner this much interest.

I'm not. It is a subject that everyone should have an opinion about. SVB depositors with tens and in some cases hundreds of millions of dollars in uninsured deposits are like Harry and Megan, privileged people receiving special consideration due to their suffering. The rest of us get to pay for it.

Don't get me wrong, I'm a capitalist pig to the core but in capitalism we have an equal opportunity for loss as well as for gain. What we are seeing here is not even socialism which some would call it. It is a political class and their minions fleecing the population. More akin to totalitarianism than anything other political structure. As soon as they disarm us that will become evident.

 

[Louisiana Shooter]

 

[Louisiana Shooter]

 

[Kracken McGraw]

As soon as they disarm us that will become evident.

This is the path to electronics currency, when it happens you will be denied your funds to buy guns and probably anything else tied to your religious beliefs. The only thing positive is it looks like we are nearing the Rapture at warp speed.

 

[Louisiana Shooter]

The Rapture is surely coming at some point...beginning, middle or the end of the tribulation period. No doubt about that at all. The real question is, have we deceived ourselves into thinking we are true Christians? What makes a REAL CHRISTIAN for Jesus to ask this question? Will everyone that says "Lord, Lord" be taken when it happens?​

​

Luke18:6 Then the Lord said, “Hear what the unjust judge said. 7 And shall God not avenge His own elect who cry out day and night to Him, though He bears long with them? 8 I tell you that He will avenge them speedily. Nevertheless, when the Son of Man comes, will He really find faith on the earth?”​

 

[M-61]

Perhaps I misunderstood a statement from Janet Yellen about the SVB situation, but she reportedly said that restoring all depositor funds will not be born by the tax payers. Considering that we the tax payers provide all government funds, how could anyone be so foolish as to utter such a statement?

The microphone that she said this thru was paid for by US the taxpayer.
We pay for everything. Everything this government does. No exceptions.
I'd ask her where does her salary come from for starts.