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Bank crisis...is it real?
- Thread starter Earth Wind and Fire
- Start date
No.
Sent from my Pixel 2 XL using Tapatalk
Sent from my Pixel 2 XL using Tapatalk
KenH
Well-Known Member
What is going to be interesting is if(when?) we go to negative interest rates(like some other major economies have) and depositors have to start paying the bank interest to keep money in their CDs and money market accounts. It will be really interesting to see how Americans react to that.
Hole in back yard, Home safes, foreign curriencies, gold, silver, platinum, and Palladium.
I’ve noticed people buy gold when the economy goes bad
Buy gold when economy is great. Sell it when economy is bad.
Hollow Man
Active Member
Yep. Imagine standing knee deep in gasoline and there's a five year old playing with matches standing next to you.
To say our banking system is built on sand would be generous. Our banking system is fatally flawed and central bankers and planners tinkering with it is just a recipe for disaster.
Hollow Man
Active Member
The problem is that by the time the economy goes bad, it's too late.
When I was in college, there was a guy on the radio named Irv Homer. I thought he was nuts. I really thought he was just some whacko conspiracy theorist. But whacko or not, his show was entertaining so I kept listening and, one by one, I noticed the crazy things he said were staring to come true.
One of the things he said was that there will be NO social security for me, and so I started to plan as if my retirement depends on me. Another is that fiat currency is worthless. So, I worked, saved, invested, worked, saved invested, and so on.
Then, when my wife and I got married, she was an accountant and had been taught the same thing by her parents.
Our philosophy was that you really don't need much money when you're in your twenties and thirties. Every dime went into saving and investing. As a result, I retired in my late 40s and she just does part time freelancing work, usually around tax time.
Sorry. Didn't mean to digress. But my point is that gold, metals, and land are investments you can count on, even in tough times and our portfolio is propped up with gold and metals.
Oh I agree....the fed printing all this money to prop up the banks worry’s me.
The economy is so good right now that the United Auto Workers is striking against the rapacious General Motors.
Communists say banks are bad. Analysis, banks must be an important part of economic freedom. Pre-civil war, many people ran down blacks. During Viet Nam people spoke of gooks.
Man has little to fear of what men do in the name of evil, but God help us from what men do in the name of good.
Man has little to fear of what men do in the name of evil, but God help us from what men do in the name of good.
It is true that very few people in the US claim to be Communists. However a majority of people vote for left leaning folks.
Why do we spend more than we take in in times of relative peace and prosperity? The left leaning folks refuse to balance the entitlement budget.
The Federal Reserve is 99 percent responsible for devaluation of our currency.
Look to President Andrew Jackson gentleman. It was he who finally did balance the budget and eliminate the first Bank that attempted to be our 1st Federal Reserve ... and may I add thus ushering in great prosperity.
KenH
Well-Known Member
Reformed1689
Well-Known Member
The gold and precious metal industry always say there is a bank crisis. That's the only way they can get customers.