Let's see...if the Fed came out with a CBDC then what would they want the banks around for? The CBDC is the Fed taking over the function that banks now serve. So it's not terribly surprising that the Fed would have something bad to say about the banks right before the roll out of CBDC.
What I want to know is: will the banks fight back? Anyone for a little divide and conquer?
That's an interesting way to look at it. I think my money would be on the banks outlasting the HFs because their infrastructure might be needed to kick start a new financial system. The HFs are just dead weight.
In any case I don't think it'll do well because everything directly tied to the US banking system will be pulled down whether they ran their business well or not. The US dollar will also lose its value.
Biden bucks or not, they've screwed up the US Monetary System and when it fully collapses, no bank or federal credit union will be unscathed regardless if they've been around 10 years, 160 years, 1000 years, etc.
Central Bank Digital Currency (CBDC) platform FedNow becomes public in July (it is already live right now for volunteers). CBDCs are being pushed because they want negative interest rates to happen.
FedNow allows the Federal Reserve to take over the Clearing House. Federal Reserve buys up liabilities of other banks right now so those banks own nothing in the long term.
When the bubble fully pops, your US dollar will be worthless and regular people will be forced to use CBDCs. There will be no need for a bank since the CBDC will an account at the Federal Reserve.
There is about $21 Trillion deposited in Commercial Banks, Trust Funds, and Savings Associations. There is about $180-190 trillion in derivatives contracts (on the low end estimate) which is about 9 times more money than exists in our currency supply. When that bubble pops, it'll take the entire system with it. Either they default or they hyperinflate but in the end your dollar becomes worthless.
NYL is a mutually owned life insurance company 😁😁😁 completely outside the entire US banking system. If you’re interested in preserving your assets money, it’s the easiest way to do it if you don’t have the means to buy tons of gold/silver or land, etc. It’s the concept of “be your own banker”.
Good article and video Anon. Wow this attached Federal Reserve article is all pretty much flat admitting the banks are about to go crashing down! Stickied for us to add Digs or additional info to this thread.
This is worse than 2008, this is the end of the US world reserve currency. What you can do is buy in-demand items that is exist outside the US monetary/banking systems. Things like
So long as a bank is lending out its savings and checking balances, it is insolvent. There are two claims to that money, the saver and the borrower, and the only thing preventing that fraud from being exposed is that the saver isn't likely to spend much of it.
Yes but when the banks lose 50% of their assets, such as several borrowers declaring bankruptcy or investments going underwater, they are in much worse condition.
It's at that point that the insolvency is exposed, sure. I'm just pointing out that the insolvency doesn't begin when the investments lose value, it was chosen the minute the bank chose to be fractional reserve.
I disagree, you just need to know what cryptos to get into and do some research.
Gold and silver still have to have a trusted third party to hold if transactions are made internationally. That leads to banks which leads to the same cycle we're in.
The right crypto:
doesn't require a centralized 3rd party
can settle transactions instantly worldwide
fees are low
has a limited supply
has never been hacked
supply is widely distributed
code is open source for anyone to read
consistent development progress being made
And I would also add that smart contracts allow new businesses to be built that were never possible before.
The right crypto would also have a process for certifying the safest dapps at different levels, have a great governance that allows everyone to participate, and be constantly developing.
Let's see...if the Fed came out with a CBDC then what would they want the banks around for? The CBDC is the Fed taking over the function that banks now serve. So it's not terribly surprising that the Fed would have something bad to say about the banks right before the roll out of CBDC.
What I want to know is: will the banks fight back? Anyone for a little divide and conquer?
They are all in it together when they're winning. When they're losing it's every man for himself.
I call this the potential beginning of a pattern. They are attacking each other.
They do not know who's gonna be the cabal's sacrificial lamb: The Banks or the Hedge Funds propping up Big Stocks
They are pointing fingers at eachother to convince the puppetmasters to take one down and spare the other;
That's an interesting way to look at it. I think my money would be on the banks outlasting the HFs because their infrastructure might be needed to kick start a new financial system. The HFs are just dead weight.
I wonder how the new bank founded by Ben Carson, Larry Elder, and John Rich ("Old Glory Bank") will fare.
I havent heard of this before
Country music star John Rich launches patriotic Old Glory bank with Ben Carson, Larry Elder
https://www.bizpacreview.com/2022/12/11/country-music-star-john-rich-launches-patriotic-old-glory-bank-with-ben-carson-larry-elder-1316101/
In any case I don't think it'll do well because everything directly tied to the US banking system will be pulled down whether they ran their business well or not. The US dollar will also lose its value.
New York Life is my "bank" LOL they've been around 160 years so I'm not worried about Biden bucks.
Well... Hope things work out well for you...
Biden bucks or not, they've screwed up the US Monetary System and when it fully collapses, no bank or federal credit union will be unscathed regardless if they've been around 10 years, 160 years, 1000 years, etc.
Central Bank Digital Currency (CBDC) platform FedNow becomes public in July (it is already live right now for volunteers). CBDCs are being pushed because they want negative interest rates to happen.
FedNow allows the Federal Reserve to take over the Clearing House. Federal Reserve buys up liabilities of other banks right now so those banks own nothing in the long term.
When the bubble fully pops, your US dollar will be worthless and regular people will be forced to use CBDCs. There will be no need for a bank since the CBDC will an account at the Federal Reserve.
There is about $21 Trillion deposited in Commercial Banks, Trust Funds, and Savings Associations. There is about $180-190 trillion in derivatives contracts (on the low end estimate) which is about 9 times more money than exists in our currency supply. When that bubble pops, it'll take the entire system with it. Either they default or they hyperinflate but in the end your dollar becomes worthless.
United States Office of the Comptroller of the Currency (OCC) - March 31, 2023 Quarterly Report on Bank Trading and Derivatives Activities - Fourth Quarter 2022 - PAGE 12 & PAGE 22 https://www.occ.gov/publications-and-resources/publications/quarterly-report-on-bank-trading-and-derivatives-activities/files/pub-derivatives-quarterly-qtr4-2022.pdf
PAGE 22 - NOTIONAL AMOUNTS OF DERIVATIVE CONTRACTS HELD FOR TRADING:
TOTAL ALL COMMERCIAL BANKS, SAVINGS ASSOCIATIONS, AND TRUST COMPANIES ASSETS ~$21.1 Trillion
TOTAL DERIVATIVES ~$191 Trillion
TOTAL HELD FOR TRADING AND MARK TO MARKET (MTM) ~$181.9 TRILLION
An over leverage of about 40:1
NYL is a mutually owned life insurance company 😁😁😁 completely outside the entire US banking system. If you’re interested in preserving your assets money, it’s the easiest way to do it if you don’t have the means to buy tons of gold/silver or land, etc. It’s the concept of “be your own banker”.
Yep! https://oldglorybank.com/
SOURCE
Page 6
https://www.federalreserve.gov/supervisionreg/files/board-briefing-on-impact-of-rising-interest-rates-and-supervisory-approach-20230214.pdf
Good article and video Anon. Wow this attached Federal Reserve article is all pretty much flat admitting the banks are about to go crashing down! Stickied for us to add Digs or additional info to this thread.
Thanks! Yeah a lot has been happening this past week! Anons please post any extra info/sources you got!
This is worse than 2008, this is the end of the US world reserve currency. What you can do is buy in-demand items that is exist outside the US monetary/banking systems. Things like
So long as a bank is lending out its savings and checking balances, it is insolvent. There are two claims to that money, the saver and the borrower, and the only thing preventing that fraud from being exposed is that the saver isn't likely to spend much of it.
Yes but when the banks lose 50% of their assets, such as several borrowers declaring bankruptcy or investments going underwater, they are in much worse condition.
It's at that point that the insolvency is exposed, sure. I'm just pointing out that the insolvency doesn't begin when the investments lose value, it was chosen the minute the bank chose to be fractional reserve.
start our own banks that actually have money?
Not crypto. Gold and silver. Hold it.
Agree. Crypto is just a 21st Century scam.
I disagree, you just need to know what cryptos to get into and do some research.
Gold and silver still have to have a trusted third party to hold if transactions are made internationally. That leads to banks which leads to the same cycle we're in.
The right crypto:
And I would also add that smart contracts allow new businesses to be built that were never possible before.
The right crypto would also have a process for certifying the safest dapps at different levels, have a great governance that allows everyone to participate, and be constantly developing.
I am my own back,I have real money in it.
Silver.
Use crypto and you become your own bank. But DYOR as there's a lot of shit coins out there with some genuine diamonds.
But they go to a bank..must withdraw quickly and concerts to real assets
Tendies and circuses