If you are still in Citibank or any big bank for that matter, you might need to see this
(wallstreetonparade.com)
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I took a bunch of my spare cash and paid off all my debt including my mortgage. I don't care how crazy people think that is. The peace I now have just tells me how dangerous debt really is.
I’m your neighbor and currently covering my roof in blue tarps.
8 year old 3000 sf house in a vacation hotspot in the South East.
All I can tell you is this. That tarp of yours is the most expensive tarp in human history.
I have a lot of respect for people that are doing the best they can with the funds they have. So I am not about to disparage anyone that has a blue tarp protecting their roof.
During the next hurricane if the blue trap is still there and you need help just ring the doorbell.
They are expensive! Just needed in for an addition I did and needed it for protection a couple days.
The BLUE tarp, specifically the color, had the unique ability to not combust during the fires in Hawaii. Take a look. It is true and very odd. Search for video or still shots. Look for BLUE
I tell you what. During the next hurricane come on over. In the next fire I will stop by your place.
I would buy one of these blue tarps but I spent all my extra funds paying off everything.
I have to admit these tarps were pretty impressive in Hawaii.
Debt is slavery. It's good you paid it off.
I don't own real estate any longer, we have a house abroad. So CC debt is ok when at 0% APR
Got like five bucks in muhh account so i should be safe
LOL. Good.
Blessed are the broke when zeeconomy takes a crap.
Blessed are those who've invested in lead when zeeconomy takes a crap...
...and don't forget silver. You need the lead to protect the silver and the people you love. But you'll need silver (or gold if you have disposable income) for when the $ is worthless.
...and don't forget GME shares. You need to buy, HODL and DRS your shares before the ponzi market collapses.
https://fliphtml5.com/bookcase/kosyg
And it is quite feasible to save on Silver, then exchange it for Gold when the rate is a bit more advantageous.
I believe the abyss between the price of the two metals will always be very large, because of rarity. Silver is more plentiful than gold, and that's what drives the spot price, outside of any artificial manipulation.
Just make sure you have bullets, primers and powder...those will be the first to sell out...
Powder keeps a long time, even in a plastic jug, with a tight seal & stored close to the floor (cooler) AND not in direct sunlight...Have powder from 10yrs ago that still GO BANG🧨🧨🧨🧨🧨🧨🧨🧨🧨🧨🧨🧨!!!!!!!!
I'll rearm off dead commies
Check, check & check....
I should be good for tens of thousands of various rounds before having to reload.
That is of course I don't have another boating incident...kek
Just make sure that you don't go-overboard with the utensils!!!!!!! That would be some VERY bad KaRmA!!!😂😁😁😁😂😂😂😂
LOL. Right.
I made a move yesterday that now I feel a lot better about. I moved like 95% of my savings from a bank that I've used for years (Truist) to a local Credit Union. CU's by law cannot invest in derivatives, but Truist has something like $33 Billion in derivatives, plus they were a contributor back in April for bailing out a competitor bank to keep the derivatives "investments" afloat.
Just like in 2008, I have been having a bad gut feeling about the banking system and have wanted to get out of it. Finally, that happened yesterday and this ^^^ article confirms my actions.
I left Chase and went to a credit union a couple years ago when Chase pulled that BS of trying to de-bank Gen. Flynn.
I recently needed something notarized and the notary at the credit union did it on the spot when I stopped by, no appointment necessary, and no fee.
Smart man. You now know how good CU is.
I have used cu for years. Smart man. You would be better off.
I have the lowest bank balances in decades....
I have the largest CC debt ever... most on cards with 0 APR until Dec. 2024 and Jan 2025 both of these had 200 and 400 Welcome bonuses. A 3rd with 0 APR until Next May... which I'm focusing on that gave 150 Welcome bonus and 4% Cash back on APMEX (gives you cash price on credit since they charge 4%).
I use banks they don't use me anymore, Its nice to buy below spot (Because of Welcome Bonuses) On 0 APR... Should the unthinkable happen and a collapse of the entire system, well I'm in a sea of record CC debtors...
Note: I'm working OT as much as possible and will easily be able to pay this debt off if somehow it doesn't all collapse ala Q's plans.
you are a millionaire .....backwards lol...think mirror
A silver lining to every cloud... I wish I owed Citibank. They illegally required me to get disability ins. on my first home. Told me on the phone not in writing...
Smart.
No. What you REALLY need to see is this: https://fred.stlouisfed.org/series/BOGZ1FL403069330Q
Thanks. I will watch.
Its amazing to me that people deposit higher amounts than what is FDIC insured when there are other ways to insure higher deposits like intrafi, DIP etc. or even as simple as naming other beneficiaries if needed to the account. I.E. wife if she doesn't have an account at the same bank there, boom now 500k insured, your child another 250 …. Etc.
Is ‘too big to fail’ (ala 2008) not a ‘thing’ anymore? Jk..but not really…
Agree, but that “we will make everyone whole” wont last but for the first few…
I would split it into different credit unions.
Need more buckets
LOL
Back before the 2008 crash, Citibank was making 2nd mortgages at 125% of value with no appraisal and no proof of income. Here is an example: Bob's house was worth $100k, but he told Citibank that it was worth $150k and they took his word for it. He owed $80k on the first mortgage and Citibank loaned him $107,500, so he owed a total of $187,500 on a house worth $100k. Oh, and no proof of income that he could possibly pay the loan back.
As the crash was becoming more and more imminent, I believed that Citibank would be the first to collapse. The fact that Citibank didn't collapse at all was a giant red pill for me.
You know this was happening with Bank of America also, right? I know this because west coast, they were pushing loans like candies at Halloween.
Ah yes, the promise land of No-Doc loans and Stated Income 😂 what could go wrong?
I am wondering which of the larger banks will fail first and no one will get anything. Then everyone will remember how Silicon Valley Bank was made whole...
I want to say JP Morgan but you never know. It could be Bank of America or Citibank first.
my 2 0 APR cards are both BOA... I'ma voting for them to collapse first.
We should get together again and see after the collapse. We might both be wrong. LOL
Going to pay down my debt then see where everything is at then. I lived abroad for 3 years and never used my credit cards, 3 canceled out and I was pissed until they all gave me welcome bonuses with new cards. I might have to cancel a few old cards to get new welcome bonuses, I'm almost out of options for no annual fee cards with welcome bonuses.
For the last 3 years I have applied for cards with welcome bonuses whenever I had something I wanted or needed. Combined with any promos for the item and voila....
For people who are interested in stacking gold or silver there are first time customer deals out there. JM Bullion give 10 1 oz rounds at spot with free delivery. Monument Metals has a 5 1 oz round similar deal. SD Bullion offers 10 Grams of gold or 10 oz of silver @ spot. There's another company that sells a 1 oz gold coin below spot.
I'm not endorsing these companies, I just took advantage of their deals. Wanted to share with anyone interested
Cancelled all my cards a while back. I don't buy if I don't have the cash. I wouldn't mind frequent flyer miles.
I used both SD and JM. Never heard of Monument yet.
Normally I don't like CC debt, lived most of my life debt-free, however I have no property in the USA and its unsecured debt. A couple months of SS in the bank is also protected. Anyone with a home or other assets should avoid CC debt, or any debt. I'm waiting to see what happens while I pay the debt down, all is at 0 APR and inflation is eating the banks not me.
I retired early and moved abroad, but COVID scamdemic screwed me. I'd owned my own condo and had a few rentals as well, all low-end. Sold out to build a house abroad and lived on savings for 3 years, getting my SS after returning in 2020.
By the way collecting SS at 62 doesn't penalize you in the long run even if you return to work. That is unless you earn so much the SS is gobbled up by the over-cap for less than full retirement age. In my case my job pays a lot more per hour than I ever made in Orlando, and I work as much OT as I can get.
Every month of SS that's taken away for being over the wages limit yields .7% So If I lose 1 year worth of SS (Over the 3 total years until full ret. age, already ending the second) I'll get an 8.4% increase (I'm trying to have 1.5 years which would give an increase of 12.6%) Then since I'm earning a lot more with higher wages and OT, that will bump off some low earnings years and also increase my SS. I timed everything with the upcoming election in mind, I don't intend on working until I die then letting the Medical Mafia suck my meager money up.
I see what you are talking about. You know exactly what's going on.