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”.
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/