Https://youtu.be/kVuc1spd32s
Bank crisis...is it real?
Discussion in 'Other Discussions' started by Earth Wind and Fire, Sep 22, 2019.
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Earth Wind and Fire Well-Known MemberSite Supporter
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InTheLight Well-Known MemberSite Supporter
No.
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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.
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More fear mongering from someone wanting to sell you precious metals ...
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InTheLight Well-Known MemberSite Supporter
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Earth Wind and Fire Well-Known MemberSite Supporter
I’ve noticed people buy gold when the economy goes bad
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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. -
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. -
Earth Wind and Fire Well-Known MemberSite Supporter
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church mouse guy Well-Known MemberSite Supporter
The economy is so good right now that the United Auto Workers is striking against the rapacious General Motors.
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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. -
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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. -
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No
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Earth Wind and Fire Well-Known MemberSite Supporter
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.
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Neither the right leaning nor the left leaning truly care about balancing the federal budget. The only group who truly cares about balancing the budget is libertarians. -
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.
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