I don't know how we can make it any clearer to people to wake up and stock up. It's way late in the game, but gosh they can get something before the stores empty.
On a side note, did anyone else "adopt" someone yet lol. I already know if stuff goes down I'm gonna be adding the little old man across the street to our little family of 4.
That won't happen. If we default, currency devalues, and everything hyperinflates. Asset prices will hyperinflate as well. Banks will be buying up hard assets or switching currencies making loans more difficult too.
If we hit hyperinflation, you're going to see people revolt and protest. Occupy movement will be back. No one wants hyperinflation. That will also spell the end for the dollar, as the only way out of it is to move to a stable currency. The people who lose here are the ones who saved everything in cash. I hope things don't come to this, but it very well could.
Banks have been prepping for this scenario by buying up Bitcoin (I am not recommending you follow banks here, there are risks here too, and you'll need to make your own judgement). They have also been getting rid of their spare cash with reverse repro, swapping cash with securities. One thing I'm wondering about here -- if banks are swapping out cash with securities, aren't they exposing themselves to failure? They have been reducing their cash reserves and if people start withdrawing from banks in droves, that will force them to sell all their assets (including crypto). If they can't come up with enough cash, then they will fail.
For banks to fail, something needs to happen to trigger everyone to withdraw from their bank accounts. The bar gets lowered by eliminating bank reserve requirements and watching greedy banks dip into people's savings and swap holdings with riskier and less liquid assets.
Hyperinflation could trigger mass withdrawal as people will be spending their holdings as fast as they can (happened in Venezuela).
I'm still contemplating if it's possible to have bank's exposure in a risky asset fail (e.g. Bitcoin crash), but that would just make cash as a better alternative and banks ever more powerful.
So at the current moment, hyperinflation seems like the only viable way to eliminate banks.
Yes! Health care, the educational system, the monetary system, all of it. I give the Patriots of the Q Team enormous credit, they seem to have looked at everything, and are fixing it all, wiping the slate clean!
I bet Evergrande collapses and goes tits up causing China markets to collapse thus causing China to go tits up financially, too, then we default when the budget talks collapse and [they] can't secure enough votes, then the margin calls on all SHFs come due as a result, which then leads to GME popping whatever bubbles are left, as a result of the SHF calls.
I wonder if this is why there were rumors we need to stock up on at least 4 weeks of food. In the event of a default, we can look to Venezuela as an example. Currency will devalue and we will see hyperinflation.
BUCKLE UP.
Came here to say that ugh ...
$GME
&
$AMC
🚀🚀🚀
🦍
I don't know how we can make it any clearer to people to wake up and stock up. It's way late in the game, but gosh they can get something before the stores empty.
On a side note, did anyone else "adopt" someone yet lol. I already know if stuff goes down I'm gonna be adding the little old man across the street to our little family of 4.
God bless you!
Probably my libtard neighbor, but only because she has 2 children and they shouldn't have to suffer because she blows her teaching salary on weed.
Right before the flu season kicks off after vaccinating everyone and lowering their immune systems, HMMMMMM
Get right with God, folks
Hope the Republicans will LET the default happen!
Username checks out
"Don't crash".
"I'm gonna crash".
Ok. I'll invest in ammunition.
and silver...
Do the best of both worlds and forge silver bullets.
Good idea, Kemo Sabe.
couple of cases??? that's for week 1... what's for week 2 and beyond??
There’s shittier beer than Coors Light? 😬
INCONCEIVABLE! -Fezzik
Ha lol Have you ever been down wind of the Coors plant? Make sure you have some good clean water to wash that down 😂
Was this supposed to be bad news ? Go full accelerationist on this joint.
NCSWIC
I believe everyone here assumes you do nothing for anyone, other than steal money, so don't worry.
Sounds like a great opportunity for a FED audit, though.
Fuckin eh! What to do??!
Please crash so I can get a house for a normal price, but not so bad that people are starving and out on the streets. Too much to ask, I know lol
That won't happen. If we default, currency devalues, and everything hyperinflates. Asset prices will hyperinflate as well. Banks will be buying up hard assets or switching currencies making loans more difficult too.
If we hit hyperinflation, you're going to see people revolt and protest. Occupy movement will be back. No one wants hyperinflation. That will also spell the end for the dollar, as the only way out of it is to move to a stable currency. The people who lose here are the ones who saved everything in cash. I hope things don't come to this, but it very well could.
Banks have been prepping for this scenario by buying up Bitcoin (I am not recommending you follow banks here, there are risks here too, and you'll need to make your own judgement). They have also been getting rid of their spare cash with reverse repro, swapping cash with securities. One thing I'm wondering about here -- if banks are swapping out cash with securities, aren't they exposing themselves to failure? They have been reducing their cash reserves and if people start withdrawing from banks in droves, that will force them to sell all their assets (including crypto). If they can't come up with enough cash, then they will fail.
For banks to fail, something needs to happen to trigger everyone to withdraw from their bank accounts. The bar gets lowered by eliminating bank reserve requirements and watching greedy banks dip into people's savings and swap holdings with riskier and less liquid assets.
Hyperinflation could trigger mass withdrawal as people will be spending their holdings as fast as they can (happened in Venezuela).
I'm still contemplating if it's possible to have bank's exposure in a risky asset fail (e.g. Bitcoin crash), but that would just make cash as a better alternative and banks ever more powerful.
So at the current moment, hyperinflation seems like the only viable way to eliminate banks.
Actual interpretation - Republicans want to crash your markets by not increasing the Federal debt limit.
Well, that is the MSM talking point. Raise the limit, so we can spend more now, and tax your kids later.
It's amazing they never thought of, y'know, spending less.
Burn it all down
If only Democrats had control of Congress, they could do something... /S
Oh, Blurpy! The best news of the day!
I know what you mean... We are all ready to destroy the broken system and get this all fixed properly!
I'm an RN ... I'm actually excited to see the Healthcare system imploding .. it needs to happen.
Yes! Health care, the educational system, the monetary system, all of it. I give the Patriots of the Q Team enormous credit, they seem to have looked at everything, and are fixing it all, wiping the slate clean!
Is there an actual source, beyond some random person tweeting he said this?
Yes, Jerome Powell Spoke today, giving a long speech/series of remarks, this was one of them.
https://www.federalreserve.gov/videos.htm
Walter Bloomberg is not "some person", he is a no nonsense news provider, just facts, no commentary or editorializing.
Crash the economy, come back with the digital fed currency. That’s their plan I assume
I bet Evergrande collapses and goes tits up causing China markets to collapse thus causing China to go tits up financially, too, then we default when the budget talks collapse and [they] can't secure enough votes, then the margin calls on all SHFs come due as a result, which then leads to GME popping whatever bubbles are left, as a result of the SHF calls.
And just like that, everyone forgets about COVID.
In my very simplistic non-economist way of thinking, if China holds most US debt wouldn't they try to collect?
Yep. I managed to schedule a meeting with my dad's financial advisor next week on the 30th.
I wonder if this is why there were rumors we need to stock up on at least 4 weeks of food. In the event of a default, we can look to Venezuela as an example. Currency will devalue and we will see hyperinflation.
The Fed as a vaccine: Inject more $$ into the economy, it's worked in the past... 😒