Thebrownblob
Well-Known Member
Seems the FDIC new quite some time ago there were some real problems. Wanted to keep it quiet.
Nervous on banks?
- Thread starter Over70irregs
- Start date
Thebrownblob
Well-Known Member
Not 100% sure but something is rotten
Thebrownblob
Well-Known Member
Glad I got a fire stick
trickpony1
Well-Known Member
What if a 401k has more than $250K?
Thebrownblob
Well-Known Member
Those aren’t FDIC insured.
And even the FDIC insurance can’t cover a real massive back failure. They will do a bail in, not a bail out. That is where they take. The depositors money to prop the bank up and pay back secure creditors.
No one is 100% safe
Dodd-Frank: Title II - Orderly Liquidation Authority
I guess the old saying don't keep all your eggs going baskets still applies
newolddude
Well-Known Member
Thebrownblob
Well-Known Member
Fed is in a no-win situation, needs to raise interest rates to cool inflation. In the process they’re going to crash the banks.
newolddude
Well-Known Member
Thebrownblob
Well-Known Member
I think you’ll be surprised how many may have “bet” wrong. Shortly.
Next Day Error
X - Other
A responsible country doesn't compromise on whether to pay the debts they've already racked up. The debt ceiling should be pro forma.
NOW, if the Republican Party had truly given it their "all" in trying for a balanced budget for the last 40+ years I would be all ears. But they've been complicit. What they're trying to do is threaten to tear down the country to get their way. It's childish and irresponsible and dangerous for American families.
newolddude
Well-Known Member
SVB was under $250 billion until recently.
My guess is the CEO took his money out because he knew the gig was up soon.
Babagounj
Strength through joy
Don't worry.
401K are handled under different rules than banks.
It's all just paper money until you withdrawal. And then the Fed takes their taxes up front, including any fees your fund requires.
The Teamster/UPS 401K plan lets you keep around .746 of whatever is withdrawn.
Next Day Error
X - Other
I like Dalio but this is a misleading video with his voice to try to lend it some sort of credibility.
Over70irregs
Well-Known Member
SVB. But data submitted to the FDIC by the bank at the end of 2022 showed that 89% of its $175 billion in deposits were uninsured. Wow….
Over70irregs
Well-Known Member
The only thing I'm doing is staying out of debt making sure to my house as well stocked up
And Bitcoin will be the next beanie baby
Over70irregs
Well-Known Member
I said so also until I did the work and found out it was the biggest network on the planet. Tried to poke holes 🕳 but it adapts always……
What's the national debt problem you do not think they will find a way to come after crypto?
Similar threads
