Always has been but they were given a free pass because they argued it could be worse. I think we are far more closer to that "worse" situation compared to 2008.
That could be, I mean, even where it comes to a 'bank run' the banks only hold a fraction of the value they have in accounts.
Given that most people use their cards exclusively, even debit tap. Seriously, if any of you has not done it yet, turn off the tap on your bank card. The credit card at least they have to prove that YOU bought something in a dispute, but if someone takes your bank card and taps away 1000$, YOU have to prove to the bank that you had your card legitimately stolen or the assumption is you gave the card.
When swiping or using the chip reader, you need to use the PIN. Since the assumption is that the PIN is private to you if someone steals your card and uses the PIN the bank will assume that you gave them the PIN. You will be stuck trying to prove that they obtained the PIN without your help.
If someone steals your credit card and uses the PIN, that will likely be top of the list of questions, "how did they get the PIN?" but ultimately, they have to prove that you were responsible for the charges... and in using the password, that's strong evidence in their favor.
Banks take your money and put it in investments that are supposed to multiply your money. They then put that money in their pocket and give you a smidge of it back called "interest" so that you look the other way while they actually lose all your money.
When they're overleveraged it means they've lost more money in their piss-poor performing investments than when they started. Being over-leveraged by 2 quadrillion means not only do they not have everyone's money available for use on demand, but they actually owe people because they are 2 quadrillion dollars in debt.
That debt carries on to the people, so while the bank gets bailed out by the government, you're the one who loses all their money when they fuck around with risky investment schemes.
If the DeepState wanted to make everyone broke overnight, they'd go ahead and just invest everyone's money into joke stocks and then laugh their asses off as everyone goes broke except them, because taxpayer dollars will bail them out.
If X goes up, my Y goes down. It’s all fake. It’s all just shit on a server with no value. Bets on bets on bets on bets. Insanely complex at times. Similar to synthetic CDOs during housing crisis, there are derivatives of derivatives. Meaning there are series of bets based on not even the market, but on the performance of other bets. If X goes up, my Y goes down, but Joe has a derivative of that, so he also goes up or down based on what position he took.
Leverage on top of leverage on top of leverage. It’s just another way for bankers to create work and profits for themselves. It’s just numbers, but it doesn’t represent real value. It’s not a pile of coal. Or gold. Or stock. It’s all just bets. Pixie dust.
There’s no risk for the banks. Everyone involved is wealthy. Worst case their bets go bad and they get fired. Still millionaires. They don’t even give a fuck if it collapses. No one is going to jail. They will be bailed out. Worst case some banks completely fail, and then the people will get hired at other banks.
History has taught the bankers that stealing big is the best way to get away with it. If the entire system explodes, no one person is guilty. They don’t even attempt prosecutions. They just bail out their friends with taxes that will be paid by our grandchildren’s grandchildren.
The value of a derivative is derived from some other asset. The big one in 2008 was mortgage-backed securities (MBS), securities created from groups of mortgages. These "tranches" were loosely valued by the mortgages they contained, and then sold as investments. Multiple times!
That doesn't really explain derivatives. u/corrbrick gives the definition, when the value is derived from something else.
A common derivative is the short sells, where you make an investment where you buy the contract that the value of what is invested is derived on some expected future value of that same stock.
Essentially derivatives were invented to mitigate risk. You buy a security that represents a portion of a bundle of mortgages with a known failure rate. If it fails at 2% but takes in 4% you've got a good investment. On paper anyway.
Yes, that's more specific to mortgage related derivatives. There are many different types, I'm not going to pretend expertise beyond what I've mentioned though.
Watch the movie The Big Short about the 2007-08 housing burst bubble-I submit ALL the banks listed will fail, because USA Inc is floating on fiat digital dollars. 😒
Excellent point. My comment didn't really take the other types of CDOs into consideration and might be a bit out-dated. What other types of CDO bombs do we have exploding up in this right now would be a good follow-up question. Any ideas?
Thanks, I really wasn't joking, I know there are shorts and you can do the opposite, but not a whole lot more.
My best guess on anything would relate to COMEX, but even then the only fuckery I can think is how the Euro, US, and other currencies seem to be shifting towards a 1:1:1 and that seems impossible without fuckery.
Then they don't use that money to pay off the overleveraged investments.
So, they take our money, invest it poorly, get bailed out by more of our money (taxes and watering down the dollar through printing) and then take that money and double down on the shitty investments that got them in trouble to begin with.
Highway robbery is more respectable, because at least they don't print money.
Like the sad old joke of the gambler down on his luck that is given some $. Instead of paying down his debt, he gambles it again hoping to win big again and pay it all off with some left over. Yet again, he loses.
sad old joke, indeed...my lifelong best friend's husband did precisely THIS, at a casino...she was still working, he retired long before and was doing all of this behind her back, with credit card debt, HELOC etc...they almost lost house and everything else, so she had to keep working much longer than she should have had to...AND he kept up same behavior until the day he died, on a smaller scale through lotto and scratch-off tickets...(sorry about the rant...)
Similar to big pharma who have zero liability for deaths and damages to the people, some would argue is by design. The government instead, uses tax payers for the damages caused. All the whole big pharma and government, both laughing their way to the bank?
any tips on finding a local bank (socal) that doesn't have derivatives risk? afaictl anything that has less than $1billion in assets is what to look for , and I'm having no luck finding anything like that.
They aren't technically banks though... Putting money in a credit union means you agree to not being able to withdraw all your money at once -- you have to set up a withdrawal payment plan to do that.
Imagine you and all your neighbors agreed to put money in the same vault and hire someone to manage that vault.
The money goes out to investments like the big banks, but if anyone tries to take all their money out they have to call back all those investments immediately, otherwise everyone goes bust.
You also have daily spending limits, at least for non-cheque and debit card expenditures.
Typically, you don't want more than around 14,000 in a federal credit union, but they are safer than banks because they don't get all the safety nets like the big bankers, so they invest more wisely.
ya, i think that's what was called a "haircut" when Cyprus hit the wall...that term haircut seems so innocent, "it'll grow back" they say...another thing that shocked me was in '08, i was conservatively invested, lost $66K; thought ok, no big deal, will deduct from income taxes next yr...NOT SO! govt only allows $3k/yr writeoff, so am STILL writing off that '08 loss, and can only hope to live long enough to get that!!
Do you follow many alternative financial news and information sources online? I've been researching different ways to set up my finances that has a global approach as a lot of western countries are just high tax dead ends.
The FED called an emergency meeting for 11:30am on Monday Oct 3rd. This will be a closed meeting.. rumor has it that the banks are indicating there is a problem?
I'm pretty sure govt or SEC will intervene when it gets to 10k. Hopefully a nice settlement. I would not mind 10k per share. Millions seems impossible. They'd have to print so much that the dollar would be hyper inflated and our tendies would be worth nothing.
True but US banks hold a vast bulk of wealth in the world. US GDP is about 1/4 of the world. I think it is closer to 1 Quadrillion as this article suggests. If US banks are 200 Trillion, we could assume the world is 4x that amount or a bit over.
The repeal of Glass Steagel Act paved the way for banks to bet your savings on the wall street, using derivatives and the creation of "Too big to fail" banks
Ask Biden, he will have the Federal Reserve print much more money to bail them out, as long as he gets his 10%. He really doesn't care about us, the citizens/patriots of America.
Yeah I saw this today. This is JUST THE US. European Banks have the same thing....in the TRILLIONS of dollars. Currencies collapsing. Markets collapsing.
Some people will protect their investments using derivatives.
A simple example would be buying stock options to protect a stock position you might have.
If you have a ton of stock you can buy put options to protect against the downside.
What happens in reality is people take on more risk because they believe they bought protection against that risk.
There is one thing that EVERYBODY overlooks. That one thing can bring down the entire system within one day.
The one thing everybody overlooks is counter party risk.
What do you think will happen to the protective puts (or any other derivative) that are backed by a major bank if that bank goes under? If that bank goes under because of a system risk all other banks will follow.
What do you think will happen with the entire market the moment the market realize that their protective derivatives are no longer assured?
Can we even begin to fathom what would happen in one day if derivatives counted in Quadrillion dollars are no longer counter party trusted?
"notional value" is another of those terms created to gaslight you. Its like "Yeah this number is really high, but dont worry about it, because its notional"
So what happens if these banks go under? For credit cards, does any amount you owe just disappear or do they still expect payment (like in full). And bank accounts that people have money in to live off of and pay their bills, does that money disappear and leave people broke?
They will digitize the funds, as the Fed and even banks can actually create money by power of the Fed through digitization.
This just means that your mortgage is set at $2k / mo, sure. But the electric bill will rise to $40,000 / mo. Groceries will be $100k / mo. Gas will be $500 / gal.
Your pay will increase slower than this.
In the end, it's the taxes that get you. Property tax is hard enough now for people, but when their income doesn't meet the $5mil pricetag on their house and property/income/etc taxes are raised every year the house goes bye bye.
There are a lot of restraints on how much property tax can be raised, but that's called austerity when those restrictions are lifted.
So, the US pays all it's debt with inflated currency and the people lose everything and end up in a stagflated economy with starvation and no electricity.
Real dollars will be worth more than the digital dollars, and those will likely be confiscated like gold was. They will be discontinued and the digital currency will become more restrictive, tracked and traced. Again, due to austerity.
World Bank / IMF win. Government gets out of debt. People suffer yet again.
If you're going to argue for more digital currency usage, Bitcoin is probably the shittiest pick nowadays.
• The base layer can barely keep up with Bitcoin's hot days now, how can it possibly be used for hundreds of millions or billions of people daily?
• Layer 2 protocols like Lightning "solve" this with patented and royaltied techs, antithetical to Bitcoin's original vision, while the companies responsible squash scaling of L1 tech.
• The centralisation of miners and the increasing adherance to US sanctions means that the permissionless nature of Bitcoin diminishes everyday.
• The open nature of the blockchain means that govt surveillance of your daily transactions is as easy as ever, with no more hidden or cash transactions.
I'm not entirely opposed to the use of crypto as the everyday currency, but Bitcoin is trash for that use.
You are correct in your critiques but have been sold a central banker lie about it being the shittiest pick.
Bitcoin is the first real competitor to fiat. Accordingly, as always when you’re over the target, the attacks and subversion is thick and heavy.
Yes it has its faults. And there’s probably a coordinated attempt by many entities to restrain or control it. But despite all these imperfections it still stands. It’s perfectly imperfect.
But the fact that it has weathered all that and is still yet to fall is, to me, merely a sign that this is a David vs Goliath battle and the solution isn’t to surrender our slingshot
Looks more like $200,000,000,000,000 (two hundred trillion) to me - just quickly adding their numbers.That's roughly one tenth of $2 quadrillion. Does their $2 quadrillion number include potential losses from short covering?
Still plenty to cause a substantial collapse of financial markets if derivatives go belly up, which looks likely.
If we are going by the numbers on this list, even if there were more banks, you'd need a minimum of 36,000 more banks with 50 billion each in derivatives in order to remotely approach 2 quadrillion if my math is correct. Since the list is in descending order, the number of banks would likely need to be even more than 40,000.
Where is a good place to buy physical silver? I recently left a job and have roughly $75k in a 401k that I’d love to roll over into silver and gold…but I want to physically own it. Any advice? I know there’s tons of tax implications, etc….
It depends what amount you are looking for and how much you are willing to spend. Find a local coin shop in your area if you prefer local and see what they have. I suggest at the very least getting a bag of old US silver coins. You can go online and get a bag of old US coins and/or gold coins or gold bullion at Goldline. They take a commission on sales. They will ship directly to your home.
You’re welcome. I would look at other online companies such as Lear, Patriot Gold and others and compare what you get from each company. Some offer specials.
That I'm not sure about. You might have to take it out as cash and then find a local gold and silver shop to buy physical. I buy from coin shops and have never ordered from websites. There are a ton of posts about buying physical metals on here though.
Lol tax implications. If the circumstances that make silver a good investment come to fruition you won’t be having to worry about taxes for a while. In that pandemonium IRS agents will be running for their lives, not collecting pittance from their former peasants.
Should have put tax implications into “” marks. I’m not worried about that in the long term, I know gains in metals will outweigh anything they “ask” me to give.
Made time today and added a stack of silver. I would say to not worry about premium being tacked on since all sellers do it and it's the cost of them keeping the lights on. After all, you're simply converting paper to physical precious metals. Paper isn't backed by anything, metals hold their value.
Today when I got on the website and opened this page and started reading and then moving over into the comments section...I am astounded by the accurate information that gets put out by the people who want to learn more...The ones who answer a persons question succinctly and too the point...you all are to be commended for you help...thank you to both the succinct question(s) and the succinct answer(s)!!!!!
Ann Barnhardt, barnhardt.biz, used to be in the financial markets, i think cattle futures...once she figured out what was really happening, she called all of her clients, as she couldn't continue in good faith...interesting story and info on her site...she has predicted everything correctly, afaik, including the ivermectin cure...
So Frogs, is it time to start using BottleCaps as currency while I start my fire place with these useless federal reserve notes? Wow this data list if true is reeeally bad. Kek.
So glad I stepped away from using these large banks a long time ago, I bank with small town banks and credit unions and as I see the credit unions are not on here and the small town banks are at $0.00. I know that the little bit of money I have is worth nothing when the SHTF but I have invested in more important stuff, trade may become extremely important when it all falls apart.
I have an employee owned bank here in the Front Range that I use, they thrived in 2007-08 because they had NO derivitives, just brick and mortar contracts.
Collapse of banking system, not having access to funds. Scare Event.
JP Morgan on it’s own is leveraged To the tune of $61 Trillion dollars. These people are a threat to humanity.
Always has been but they were given a free pass because they argued it could be worse. I think we are far more closer to that "worse" situation compared to 2008.
They say 2008 was papered over. We never really lived it through. I guess it was more of a glimpse.
2008 was a warning of what was to come IMO.
Gonna be a complete financial meltdown. Gonna make 2008 look like childsplay.
By design.
So this is why they needed Biden in charge. To do one last bail-out at the taxpayers expense.
It would be cheaper to throw every banker in prison and have all debt forgiven. ;) Tax payers will never pay that off.
You think? Trump did mention to watch inflation rate after the midterms.
But, is the cabal aware it's the last bail out? I think not. Gonna be some surprises for those guys!
That could be, I mean, even where it comes to a 'bank run' the banks only hold a fraction of the value they have in accounts.
Given that most people use their cards exclusively, even debit tap. Seriously, if any of you has not done it yet, turn off the tap on your bank card. The credit card at least they have to prove that YOU bought something in a dispute, but if someone takes your bank card and taps away 1000$, YOU have to prove to the bank that you had your card legitimately stolen or the assumption is you gave the card.
Wouldn't swiping be the same? So if someone steals your card and they swipe it instead if tapping, they would get by with it?
When swiping or using the chip reader, you need to use the PIN. Since the assumption is that the PIN is private to you if someone steals your card and uses the PIN the bank will assume that you gave them the PIN. You will be stuck trying to prove that they obtained the PIN without your help.
If someone steals your credit card and uses the PIN, that will likely be top of the list of questions, "how did they get the PIN?" but ultimately, they have to prove that you were responsible for the charges... and in using the password, that's strong evidence in their favor.
Unless you use it as "credit" instead of debit. I always choose that and never have to use my pin on purchases
I'm not sure how that relates...
He was just saying you can use your debit card as a credit card and it bypasses all of what you’re talking about.
Also, you don’t need a pin for credit cards, you’re thinking of debit cards.
If you tap, no. If you use the chip or swipe, yes.
I thought what you describe was overdraft type of thing... that makes sense at least.
Now's a good time to to watch The Big Short.
Great movie on 2008 financial crisis.
Can someone break this down on what this means? Not my expertise.
Banks take your money and put it in investments that are supposed to multiply your money. They then put that money in their pocket and give you a smidge of it back called "interest" so that you look the other way while they actually lose all your money.
When they're overleveraged it means they've lost more money in their piss-poor performing investments than when they started. Being over-leveraged by 2 quadrillion means not only do they not have everyone's money available for use on demand, but they actually owe people because they are 2 quadrillion dollars in debt.
That debt carries on to the people, so while the bank gets bailed out by the government, you're the one who loses all their money when they fuck around with risky investment schemes.
If the DeepState wanted to make everyone broke overnight, they'd go ahead and just invest everyone's money into joke stocks and then laugh their asses off as everyone goes broke except them, because taxpayer dollars will bail them out.
Remember -- "banks are simply too big to fail!"
Ah.. I see. I knew about interest. But not the term derivatives.
Derivative is code word for bet.
If X goes up, my Y goes down. It’s all fake. It’s all just shit on a server with no value. Bets on bets on bets on bets. Insanely complex at times. Similar to synthetic CDOs during housing crisis, there are derivatives of derivatives. Meaning there are series of bets based on not even the market, but on the performance of other bets. If X goes up, my Y goes down, but Joe has a derivative of that, so he also goes up or down based on what position he took.
Leverage on top of leverage on top of leverage. It’s just another way for bankers to create work and profits for themselves. It’s just numbers, but it doesn’t represent real value. It’s not a pile of coal. Or gold. Or stock. It’s all just bets. Pixie dust.
There’s no risk for the banks. Everyone involved is wealthy. Worst case their bets go bad and they get fired. Still millionaires. They don’t even give a fuck if it collapses. No one is going to jail. They will be bailed out. Worst case some banks completely fail, and then the people will get hired at other banks.
History has taught the bankers that stealing big is the best way to get away with it. If the entire system explodes, no one person is guilty. They don’t even attempt prosecutions. They just bail out their friends with taxes that will be paid by our grandchildren’s grandchildren.
Comment I just made: Basically our usury masters creating something out of thing air with no intrinsic value, and getting idiots to buy it.
The value of a derivative is derived from some other asset. The big one in 2008 was mortgage-backed securities (MBS), securities created from groups of mortgages. These "tranches" were loosely valued by the mortgages they contained, and then sold as investments. Multiple times!
Basically our usury masters creating something out of thing air with no intrinsic value, and getting idiots to buy it.
That doesn't really explain derivatives. u/corrbrick gives the definition, when the value is derived from something else.
A common derivative is the short sells, where you make an investment where you buy the contract that the value of what is invested is derived on some expected future value of that same stock.
Essentially derivatives were invented to mitigate risk. You buy a security that represents a portion of a bundle of mortgages with a known failure rate. If it fails at 2% but takes in 4% you've got a good investment. On paper anyway.
Yes, that's more specific to mortgage related derivatives. There are many different types, I'm not going to pretend expertise beyond what I've mentioned though.
Watch the movie The Big Short about the 2007-08 housing burst bubble-I submit ALL the banks listed will fail, because USA Inc is floating on fiat digital dollars. 😒
... USA inc. is bankrupt
Excellent point. My comment didn't really take the other types of CDOs into consideration and might be a bit out-dated. What other types of CDO bombs do we have exploding up in this right now would be a good follow-up question. Any ideas?
Thanks, I really wasn't joking, I know there are shorts and you can do the opposite, but not a whole lot more.
My best guess on anything would relate to COMEX, but even then the only fuckery I can think is how the Euro, US, and other currencies seem to be shifting towards a 1:1:1 and that seems impossible without fuckery.
You should watch The Big Short if you haven't' already. Good movie about 2008 crisis.
Thanks! Will look into it!
Can’t they just keep printing? So they never have to worry?
The FED prints the money to bail them out.
Then they don't use that money to pay off the overleveraged investments.
So, they take our money, invest it poorly, get bailed out by more of our money (taxes and watering down the dollar through printing) and then take that money and double down on the shitty investments that got them in trouble to begin with.
Highway robbery is more respectable, because at least they don't print money.
Not to mention that five of the top six ate shareholder banks in the Fed
This. How is this not talked about more
Like the sad old joke of the gambler down on his luck that is given some $. Instead of paying down his debt, he gambles it again hoping to win big again and pay it all off with some left over. Yet again, he loses.
sad old joke, indeed...my lifelong best friend's husband did precisely THIS, at a casino...she was still working, he retired long before and was doing all of this behind her back, with credit card debt, HELOC etc...they almost lost house and everything else, so she had to keep working much longer than she should have had to...AND he kept up same behavior until the day he died, on a smaller scale through lotto and scratch-off tickets...(sorry about the rant...)
Similar to big pharma who have zero liability for deaths and damages to the people, some would argue is by design. The government instead, uses tax payers for the damages caused. All the whole big pharma and government, both laughing their way to the bank?
is there a way to lookup which local banks or credit unions level of risk?
so $0 is what you want
well that's how half of them are listed
any tips on finding a local bank (socal) that doesn't have derivatives risk? afaictl anything that has less than $1billion in assets is what to look for , and I'm having no luck finding anything like that.
You could try federal credit unions.
They aren't technically banks though... Putting money in a credit union means you agree to not being able to withdraw all your money at once -- you have to set up a withdrawal payment plan to do that.
Imagine you and all your neighbors agreed to put money in the same vault and hire someone to manage that vault.
The money goes out to investments like the big banks, but if anyone tries to take all their money out they have to call back all those investments immediately, otherwise everyone goes bust.
You also have daily spending limits, at least for non-cheque and debit card expenditures.
Typically, you don't want more than around 14,000 in a federal credit union, but they are safer than banks because they don't get all the safety nets like the big bankers, so they invest more wisely.
I have accounts at Penfed and TowerFederal CU. I should move some of my money to those and it'll be safer than Bank of America?
Hah. Does everyone think our bank accounts are REALLY protected by FDIC Insurance up to $250,000 per account?
If so, then I've got a bridge to sell you... only taking payment in gold or silver.
You know, when SHTF they’ll gladly print you up $250k. You can use it to wallpaper your house.
Sure they are protected! Just call BR-549 and ask for Junior.
It will be a "Bail in".... they'll just take your money.
ya, i think that's what was called a "haircut" when Cyprus hit the wall...that term haircut seems so innocent, "it'll grow back" they say...another thing that shocked me was in '08, i was conservatively invested, lost $66K; thought ok, no big deal, will deduct from income taxes next yr...NOT SO! govt only allows $3k/yr writeoff, so am STILL writing off that '08 loss, and can only hope to live long enough to get that!!
Do you follow many alternative financial news and information sources online? I've been researching different ways to set up my finances that has a global approach as a lot of western countries are just high tax dead ends.
Supposedly they have 99 years to pay out
GME DRS is the way. Lock up the free float!
The FED called an emergency meeting for 11:30am on Monday Oct 3rd. This will be a closed meeting.. rumor has it that the banks are indicating there is a problem?
Sauce?
All over https://www.reuters.com/world/us/us-financial-stability-oversight-council-meet-oct-3-2022-09-26/
https://www.federalreserve.gov/aboutthefed/boardmeetings/20221003closed.htm#:~:text=Closed%20Board%20Meeting%20on%20October%203%2C%202022&text=It%20is%20anticipated%20that%20the,set%20forth%20in%20section%20261b.
Thanks I came on here looking for sauce
Probably even higher 6 months after this data was collected
200 TRILLION, not 2 Quadrillion. The numbers are right there.
Archived Tweet:
https://archive.ph/OxWT5
Global GDP at 84.7 Trillion
Linked source:
https://www.usbanklocations.com/bank-rank/derivatives.html
https://archive.ph/wbt6u
Relevant Link:
How Big Is the Derivatives Market?
https://www.investopedia.com/ask/answers/052715/how-big-derivatives-market.asp
Still over a million a share post moass
If one share isn't $6,942,000 at the very least, I'm not selling.
I'm pretty sure govt or SEC will intervene when it gets to 10k. Hopefully a nice settlement. I would not mind 10k per share. Millions seems impossible. They'd have to print so much that the dollar would be hyper inflated and our tendies would be worth nothing.
It will be pulling the money out of their fuckery.
These banks on the list are only the US banks. I presume 2 quadrillion would be the global number.
True but US banks hold a vast bulk of wealth in the world. US GDP is about 1/4 of the world. I think it is closer to 1 Quadrillion as this article suggests. If US banks are 200 Trillion, we could assume the world is 4x that amount or a bit over.
How Big Is the Derivatives Market?
https://www.investopedia.com/ask/answers/052715/how-big-derivatives-market.asp
Anyone else hear this in Dr. Evil’s voice?
KEK!
The repeal of Glass Steagel Act paved the way for banks to bet your savings on the wall street, using derivatives and the creation of "Too big to fail" banks
And that was on top of Nixon getting rid of Bretton Woods...
How many turds can they put on top of this pile.... it's like turd jenga
Are local credit unions affected as well as these major banks? Like would our $$ be frozen?
Probably, they are all tied together in one way or another im assuming.
My math teacher told me derivatives are infinitesimally small, so no need to worry right?
Ask Biden, he will have the Federal Reserve print much more money to bail them out, as long as he gets his 10%. He really doesn't care about us, the citizens/patriots of America.
Apes strong together.
Yeah I saw this today. This is JUST THE US. European Banks have the same thing....in the TRILLIONS of dollars. Currencies collapsing. Markets collapsing.
Some people will protect their investments using derivatives. A simple example would be buying stock options to protect a stock position you might have. If you have a ton of stock you can buy put options to protect against the downside. What happens in reality is people take on more risk because they believe they bought protection against that risk.
There is one thing that EVERYBODY overlooks. That one thing can bring down the entire system within one day. The one thing everybody overlooks is counter party risk.
What do you think will happen to the protective puts (or any other derivative) that are backed by a major bank if that bank goes under? If that bank goes under because of a system risk all other banks will follow. What do you think will happen with the entire market the moment the market realize that their protective derivatives are no longer assured?
Can we even begin to fathom what would happen in one day if derivatives counted in Quadrillion dollars are no longer counter party trusted?
"notional value" is another of those terms created to gaslight you. Its like "Yeah this number is really high, but dont worry about it, because its notional"
So what happens if these banks go under? For credit cards, does any amount you owe just disappear or do they still expect payment (like in full). And bank accounts that people have money in to live off of and pay their bills, does that money disappear and leave people broke?
I've never heard about "derivatives" before.
Credit crisis. But they won´t let you off the hook so easily. Digital currencies into the new slavery system. Even worse then having a debt.
This is what I’m curious about.
They will digitize the funds, as the Fed and even banks can actually create money by power of the Fed through digitization.
This just means that your mortgage is set at $2k / mo, sure. But the electric bill will rise to $40,000 / mo. Groceries will be $100k / mo. Gas will be $500 / gal.
Your pay will increase slower than this.
In the end, it's the taxes that get you. Property tax is hard enough now for people, but when their income doesn't meet the $5mil pricetag on their house and property/income/etc taxes are raised every year the house goes bye bye.
There are a lot of restraints on how much property tax can be raised, but that's called austerity when those restrictions are lifted.
So, the US pays all it's debt with inflated currency and the people lose everything and end up in a stagflated economy with starvation and no electricity.
Real dollars will be worth more than the digital dollars, and those will likely be confiscated like gold was. They will be discontinued and the digital currency will become more restrictive, tracked and traced. Again, due to austerity.
World Bank / IMF win. Government gets out of debt. People suffer yet again.
All savings wiped out, all equity wiped out.
Bitcoin people.
Bitcoin.
And gold, sure.
But how am I going to send gold to a meme smith on the other side of the world?
Based on history, silver is less likely to be subject to confiscation, and is easier to barter with in small amounts. Having both couldn't hurt.
If you're going to argue for more digital currency usage, Bitcoin is probably the shittiest pick nowadays.
• The base layer can barely keep up with Bitcoin's hot days now, how can it possibly be used for hundreds of millions or billions of people daily?
• Layer 2 protocols like Lightning "solve" this with patented and royaltied techs, antithetical to Bitcoin's original vision, while the companies responsible squash scaling of L1 tech.
• The centralisation of miners and the increasing adherance to US sanctions means that the permissionless nature of Bitcoin diminishes everyday.
• The open nature of the blockchain means that govt surveillance of your daily transactions is as easy as ever, with no more hidden or cash transactions.
I'm not entirely opposed to the use of crypto as the everyday currency, but Bitcoin is trash for that use.
You are correct in your critiques but have been sold a central banker lie about it being the shittiest pick.
Bitcoin is the first real competitor to fiat. Accordingly, as always when you’re over the target, the attacks and subversion is thick and heavy.
Yes it has its faults. And there’s probably a coordinated attempt by many entities to restrain or control it. But despite all these imperfections it still stands. It’s perfectly imperfect.
But the fact that it has weathered all that and is still yet to fall is, to me, merely a sign that this is a David vs Goliath battle and the solution isn’t to surrender our slingshot
I think this is really old news. I remember these figures back in 2008-9 timeframe. I'd guess it was 5-10 quadrillion by now (double-triple).
But no matter, a quadrillion here a quadrillion there. Numbers that can't even be contemplated anyway...
As I said, as new entry, as long as Biden gets his 10% what difference does it make to him if the Fed keeps printing more and more money?
Looks more like $200,000,000,000,000 (two hundred trillion) to me - just quickly adding their numbers.That's roughly one tenth of $2 quadrillion. Does their $2 quadrillion number include potential losses from short covering?
Still plenty to cause a substantial collapse of financial markets if derivatives go belly up, which looks likely.
I think there was a lot of banks not shown in the picture.
If we are going by the numbers on this list, even if there were more banks, you'd need a minimum of 36,000 more banks with 50 billion each in derivatives in order to remotely approach 2 quadrillion if my math is correct. Since the list is in descending order, the number of banks would likely need to be even more than 40,000.
These are just the US banks. Now add the reckless derivatives of another 150+ countries.
They got the math wrong but the statement is pretty close to reality for the whole derivatives market:
https://www.investopedia.com/ask/answers/052715/how-big-derivatives-market.asp
Think I might stack some silver tomorrow. Whether STHF tomorrow or ten years from now, going to secure some currency for my family.
Where is a good place to buy physical silver? I recently left a job and have roughly $75k in a 401k that I’d love to roll over into silver and gold…but I want to physically own it. Any advice? I know there’s tons of tax implications, etc….
It depends what amount you are looking for and how much you are willing to spend. Find a local coin shop in your area if you prefer local and see what they have. I suggest at the very least getting a bag of old US silver coins. You can go online and get a bag of old US coins and/or gold coins or gold bullion at Goldline. They take a commission on sales. They will ship directly to your home.
Thank you so much friend, concise answer with context, exactly what I was looking for!!!!
You’re welcome. I would look at other online companies such as Lear, Patriot Gold and others and compare what you get from each company. Some offer specials.
That I'm not sure about. You might have to take it out as cash and then find a local gold and silver shop to buy physical. I buy from coin shops and have never ordered from websites. There are a ton of posts about buying physical metals on here though.
Lol tax implications. If the circumstances that make silver a good investment come to fruition you won’t be having to worry about taxes for a while. In that pandemonium IRS agents will be running for their lives, not collecting pittance from their former peasants.
Should have put tax implications into “” marks. I’m not worried about that in the long term, I know gains in metals will outweigh anything they “ask” me to give.
WWW.USGOLDBUREU.COM
You can store it at the Texas Depository
Made time today and added a stack of silver. I would say to not worry about premium being tacked on since all sellers do it and it's the cost of them keeping the lights on. After all, you're simply converting paper to physical precious metals. Paper isn't backed by anything, metals hold their value.
(pssstt...you look'n for derivatives?...)
Hell yea, time to dance!
Stack that silver boys and girls
Can't happen fast enough
Would this explain why Bank of America charges and overcharges in fees? Like they have a fee for everything. I stopped using them years ago.
Funny how Credit Suisse is not on the list
They are international
My money's in a small local credit union.
I'm starting to fear for that too.
Today when I got on the website and opened this page and started reading and then moving over into the comments section...I am astounded by the accurate information that gets put out by the people who want to learn more...The ones who answer a persons question succinctly and too the point...you all are to be commended for you help...thank you to both the succinct question(s) and the succinct answer(s)!!!!!
Great time to be dirt poor. Yay me! FJB.
Ann Barnhardt, barnhardt.biz, used to be in the financial markets, i think cattle futures...once she figured out what was really happening, she called all of her clients, as she couldn't continue in good faith...interesting story and info on her site...she has predicted everything correctly, afaik, including the ivermectin cure...
Yes please!
So Frogs, is it time to start using BottleCaps as currency while I start my fire place with these useless federal reserve notes? Wow this data list if true is reeeally bad. Kek.
So glad I stepped away from using these large banks a long time ago, I bank with small town banks and credit unions and as I see the credit unions are not on here and the small town banks are at $0.00. I know that the little bit of money I have is worth nothing when the SHTF but I have invested in more important stuff, trade may become extremely important when it all falls apart.
Now come on and fall apart already......
I❤my credit union!
I have an employee owned bank here in the Front Range that I use, they thrived in 2007-08 because they had NO derivitives, just brick and mortar contracts.
This is just stupid. Unicorns are a, more likely to exist than this stuff get paid off.
Emergency meeting of the fed tomorrow.
Sauce?
Correction it's their normal monthly meeting tommorow, I was missinformed..