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?
You should buy whatever you believe in. The most popular are bitcoin and gold.. If you need cash then only hold in the major 4.. if you want to invest you can get t bills for a solid return as long as the government doesn’t fail. Believe it’s like 4-5%. That’s why the banks are gonna be failing because people are taking their money out and getting these t-bills. Personally my game plan is to buy bitcoin with any excess cash, I think that will make me sleep the best
What do you mean by the major 4?
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.