Oh, the irony. "Getting cash out now" is what CAUSES a run on the banks in the first place.
Herpa Derp.
SVB's collapse was predictable, and the result of an completely inappropriate mix of maturity dates on its assets. Frankly the incompetence shown by the SVB's leadership and CEO is staggering especially for someone who was on the board of the San Francisco Fed.
SVB was run by woke idiots, for woke idiots. They were a collection of diversity-hire buffoons, and the results were not only predictable but inevitable. Extrapolating from SVB to all the other financial institutions is simply not accurate.
If banks were merely a box in which people store their assets, there would be no issue in taking back your property from the box, just like if you check your coat at a restaurant or club, you wouldn't expect the restaurant/club to go bankrupt if everyone wanted their own property back at the end of the evening.
There's nothing wrong with that logic. If you have the time and flexibility, a cashier's check is pretty easy to do, but it might cost $10 or so. Thanks
Question for y'all who understand the financial world better than me: So if I have a 401k that has bonds and stocks in it, do I bite the bullet and withdraw now and face heavy taxation, or do I ride out the storm?
I don't know the answer to that. I'm keeping mine but I have stopped contributing to it. I've been buying silver and GME and DWAC stocks with the money I used to contribute. Not a lot, just a little each paycheck. FWIW
Not to totally grill you, just new to the financial side of things, but can you direct me to somewhere that I can find the resources to buy that stock? Thought about silver and GME/DWAC both as investments, I just don't know what I'm doing, and could use some patriot help. Thanks if you can. :)
I bought first on E*Trade and then moved them to ComputerShare. Once you have them on ComputerShare you can continue to buy them DRS there. It took a couple weeks I think for everything to be settled.
I just buy DWAC on E*Trade - I don't know if you can DRS them but I couldn't figure that out and I tried.
Get cash out now, there is going to be a run on the banks when the sheeple start panicking. You can always put it back in.
Oh, the irony. "Getting cash out now" is what CAUSES a run on the banks in the first place.
Herpa Derp.
SVB was run by woke idiots, for woke idiots. They were a collection of diversity-hire buffoons, and the results were not only predictable but inevitable. Extrapolating from SVB to all the other financial institutions is simply not accurate.
Ok, keep yours in. To each his own!
Getting YOUR cash out certainly isn't. What a stupid comment.
If you're not a billionaire, you don't matter to banks.
I don't doubt what you're saying. I think the point is more about domino effects.
If banks were merely a box in which people store their assets, there would be no issue in taking back your property from the box, just like if you check your coat at a restaurant or club, you wouldn't expect the restaurant/club to go bankrupt if everyone wanted their own property back at the end of the evening.
There's nothing wrong with that logic. If you have the time and flexibility, a cashier's check is pretty easy to do, but it might cost $10 or so. Thanks
Question for y'all who understand the financial world better than me: So if I have a 401k that has bonds and stocks in it, do I bite the bullet and withdraw now and face heavy taxation, or do I ride out the storm?
I don't know the answer to that. I'm keeping mine but I have stopped contributing to it. I've been buying silver and GME and DWAC stocks with the money I used to contribute. Not a lot, just a little each paycheck. FWIW
Not to totally grill you, just new to the financial side of things, but can you direct me to somewhere that I can find the resources to buy that stock? Thought about silver and GME/DWAC both as investments, I just don't know what I'm doing, and could use some patriot help. Thanks if you can. :)
Here you go: https://www.drsgme.org/drs/direct-register-shares-from-etrade
I bought first on E*Trade and then moved them to ComputerShare. Once you have them on ComputerShare you can continue to buy them DRS there. It took a couple weeks I think for everything to be settled.
I just buy DWAC on E*Trade - I don't know if you can DRS them but I couldn't figure that out and I tried.
To the moon!
This wasn't triggered by a bank run though, the Fed raising the rates hurt their bond position big time.