Can we have a thread about what the hell to do right now?
🗣️ DISCUSSION 💬
First of all, I'm an idiot when it comes to anything financial. I know many of you aren't. What is the safest thing to do with the money (fiat) that we do have right now? Leave it in our local bank? Credit union? Keep it as cash in my sock drawer? Also, the money in my 401k? Switch it over to bonds or something else I don't fully understand? Any thoughts from someone who's been paying better attention to these things than I?
JPM, BofA, Citi and Wells
Oh, I see. Thank you. I actually don't trust any of them.
Take a look at the derivatives they are holding. Those are basically bets made with YOUR money.
WF - 12 trillion
My local bank - zero!
They are trying to get us to panic at our local bank and jump (and do a bail in) for the larger banks!
Local banks close and fat cat 4 consolidate.
All part of the plan.
Thank you. I have heard the word derivatives but never knew what they were. I'll look them up. But how does one find out if their own bank is deep into derivatives (or other harmful investments?) I heard Sean Hannity saying that Peter Thiel had pulled millions out of Silicone Valley Bank a while back because he had looked at their spreadsheet (so to speak) and didn't think they were running the bank properly - he thought they were too risky. But I was thinking, well, that's Peter Theil. He knows what he's doing and how to find stuff. But how does the average person who has no idea what all that stuff means - know how to check?
Here is a thread from a few weeks ago. Keep in mind ALL U.S. banks are on this list. Don't freak over the post title.
My local bank has zero derivatives so I am feeling much more comfortable about it. Especially since my hubby pointed out that the bank survived the depression.
https://greatawakening.win/p/16aT37RoOY/if-your-bank-is-on-this-list-you/
Seems like you’re the guy who kept downvoting me, only one who disagreed. As this plays out, it’s very clear the small banks are the losers and it’s by far. Major banks will be the only ones around. Just like how computers are only Microsoft and apple. Phones are only Samsung and apple. Banks will only be the major4 come this banking crisis.
Ya well you don’t have to trust them but your money will always be safe to withdraw. Too big to ever fail