Buckle Up: Silicon Valley Bank Seized by the Fed

DoOver

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Wall Street Silver

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They have no idea what to do. They are making it up as they go.
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ECB'S PRESIDENT LAGARDE: WE ARE NEITHER COMMITTED TO RAISE FURTHER NOR ARE WE FINISHED WITH HIKING RATES.
 
spat

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Saltwater60 said:
Then you trade food for a fuel pump. I don’t see what value gold has during a SHTF type thing. I get people think gold is valuable and it is today but when you need food, water, shelter, and heat gold provides none of that.
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What if the fuel pump guy is good for food too.

But he needs a coffee grinder.

The coffee grinder guy is good for food too, but needs a new bridle for his horse...

You can try to come up with some bizarre barter chain of 10 guys, or you can all use some form of money.

The gold might not work immediately during SHTF, but that period will not last very long.

We invented money for a reason. Within a few months something resembling a new economy will begin to form. Odds are good that it will recognize gold, since it has figured prominently in nearly every economy in recorded history.
 
John Stark

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spat said:
We invented money for a reason. Within a few months something resembling a new economy will begin to form. Odds are good that it will recognize gold, since it has figured prominently in nearly every economy in recorded history.
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And its never been worth nothing. There is ALWAYS someone that will take that gold away from you, whether through a fair trade, or a gun to your head.

History is certain about that.

Further, silver and gold both have manufacturing and technological uses important to recovering from a bad situation. Maybe after an all-out nuclear exchange that turns most of the planet into a glass parking lot gold and silver would have no value, but that is not the only SHTF scenario.
 
Saltwater60

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spat said:
What if the fuel pump guy is good for food too.

But he needs a coffee grinder.

The coffee grinder guy is good for food too, but needs a new bridle for his horse...

You can try to come up with some bizarre barter chain of 10 guys, or you can all use some form of money.

The gold might not work immediately during SHTF, but that period will not last very long.

We invented money for a reason. Within a few months something resembling a new economy will begin to form. Odds are good that it will recognize gold, since it has figured prominently in nearly every economy in recorded history.
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Sure and I see that as nearly all trade and barter. Money was set up because people had excess goods to sell. If no one has excess money means nothing. Yes farmers will have excess for a while maybe but without fuel, pesticides, and fertilizers that won’t hold true very long either. Most crops would rot in a field without workers, a way to harvest, and a way to transport/distribute goods. It would be interesting to see what would occur IMO.
 
spat

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Saltwater60 said:
Sure and I see that as nearly all trade and barter. Money was set up because people had excess goods to sell. If no one has excess money means nothing. Yes farmers will have excess for a while maybe but without fuel, pesticides, and fertilizers that won’t hold true very long either. Most crops would rot in a field without workers, a way to harvest, and a way to transport/distribute goods. It would be interesting to see what would occur IMO.
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Yes, but the point is the barter economy stage won't last long.

Best to store enough of everything you need to get through that.

After a few months to maybe a year, you're looking at finding a niche in the new economy, whatever that's going to be. That's where the precious metals are likely to come in.

Other stuff could be good to have for barter as well, but it's a lot easier to store $2000 worth of gold than it is diesel fuel.

Even if the diesel exchange rate ends up worth 10x as much due to the shortage.

If nobody has excess goods, then there isn't an economy at all, not even barter.

Once there is any kind of trade, then money starts making sense.
 
Drinkthekoolaid

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I found a fun new fund on my trading site to bet against banks on. -$FAZ, i will buy a few shares and see what happens

Ok I pulled the trigger and bought 4 shares lol. I'm now betting against the banks.


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prambo

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The U.S. Business Model Is Collapsing - Daily Reckoning

"...the creaking polity called the USA in our time spawned many new incarnations of John Law as it transitioned from being “the arsenal of democracy” — you know, making real things — to a land of make-believe, where unicorns galloped over rainbows conjured by computer magic and utopian wishes of equity, diversity and inclusion."


Are Bank Failures a Sign of More Trouble Ahead? | Ron Paul

"The new wave of bank failures is an indication that the US economy is either in or on the verge of another serious Fed-caused recession. With nations seeking to end the dollar’s status as the world’s reserve currency, the end of America’s disastrous experiment with fiat money, and with it the welfare-warfare state, could be on the horizon. The collapse can be accompanied by civil unrest and greater restrictions on liberty. However, the spreading authoritarianism can also spur a growth in the movement for individual liberty, a free market, and limited government that could make the dark night of authoritarianism a prelude to a new dawn of liberty."

As far as the last sentence goes - TINWTVOOT - jock-up boys and girls - protestin' ain't gonna "gett'er done" this time.
 
DoOver

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tirwin1

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I get it, the banking system is in crisis. But what is the average American supposed to do? Take out all your cash and put it in a mattress? Transfer it to another bank that may or may not have trouble next week? I've read people are taking money out of regional banks and putting it into the 4 "too big to fail" banks. But there's no guarantee they won't have problems. And if the 4 banks control an even greater % of deposits won't that make it easier for the government to control deposit flows? What a clusterfuck.
 
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ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

Nothing says "stability" like an unscheduled "Emergency Financial Stability Meeting!" of the Financial Stability Oversight Council...

A nation without reason and without a moral code is also coincidentally and malignantly hilarious in its actions and language in response to "emergencies."

I mean LOL and WTF! I know the situation is bad, but like many things, the absurdity of it all sinks at least to the level of "gallows" humor.
 
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prambo

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John Stark

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tirwin1 said:
I get it, the banking system is in crisis. But what is the average American supposed to do? Take out all your cash and put it in a mattress? Transfer it to another bank that may or may not have trouble next week? I've read people are taking money out of regional banks and putting it into the 4 "too big to fail" banks. But there's no guarantee they won't have problems. And if the 4 banks control an even greater % of deposits won't that make it easier for the government to control deposit flows? What a clusterfuck.
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If by "crisis" you mean "bankrupt beyond repair," I'm not sure what remedies there are at this point, for the "average American" or for the nation. A banking/financial collapse after 3-4 years of Operation Wuflu societal and financial ruin probably gets us a lot closer to a Venezuela type of fallout. Great Depression Redux at least.

They created a monster that has gotten too big and mean to be controlled ("to big too fail"), and now it is eating the royality and nobility rather than just the peasants.

Unless of course, our heroes in the Federal Reserve and the Treasury come up with some novel accounting tricks, just like the government came up with a novel coronavirus... and a vax that not only does not stop the spread of the "contagion," but actually harms those its supposed to protect.

If that's the case, you can bet the cure is going to be worse than the disease.

"We must kill the patient to save him."

That is what has been done. They have destroyed free markets, and have replaced it with fiat money that is worthless. The banksters and the government have conspired since 1913 to replace our Constitutional order with an oligarchic plutocracy.

My view is that "Average Americans" can only find shelter right now in hard assets. Precious metals, tools, food, fuel, weapons and ammo, booze, and other, tangible forms of wealth that can't be printed by holding a finger down on the zero key in some Federal Reserve office. Such shelter will be probably short lived in terms of wealth security once the takeover is complete. Buy stuff while our "money" still has buying power.

The banks have already been nationalized. And so has our money (which is not wealth).

Right now its "bail in" time for the suckers, and "bail out" time for the banksters, which means "average Americans" are going to bleed.

Digital money completely controlled by the governments of the world is the end game, and there are going to be no other options.

Now, about those trillions and trillions of dollars in retirement accounts....

Someone ALWAYS has to take a haircut.
 
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prambo

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Just a couple of interesting articles...

Central banks: “We Are Invincible!”…Markets: “Hold My Beer” | ZeroHedge

"Central banks seem to be on a credibility drive at the moment. Last week it was the ECB, yesterday it was the Fed and today it was the Bank of England. All of them are on a mission to reiterate their approach of ‘because I said so!’ when it comes to raising rates. It seems that a snowballing banking crisis isn’t enough to spook them into thinking that maybe they have taken the wrong approach for a while now. Unsurprisingly, the more they bury their heads in the sand, the more savers and investors start to insure their portfolios with gold and silver bullion."

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Fools’ Gold, by Robert Gore

"In 2013, a century after the establishment of the Federal Reserve, I published The Golden Pinnacle. The novel’s hero is Daniel Durand, a Wall Street banker. Chapter 27, “Fools’ Gold,” features Daniel’s testimony in 1913 before a House of Representatives subcommittee against legislation under consideration that would establish the Federal Reserve. Eleanor is Daniel’s wife and Tom and Alexander are two of his four sons. As the current banking crisis unfolds, I won’t have much to say that will add in any meaningful way to what I said in “Fools’ Gold”. Why repeat myself? Perhaps I’ll just keep linking back to this post. Please share in whole or in part with attribution and a link back to this post."
 
John Stark

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prambo said:
@spat - the following article adds great weight to your argument about perhaps buying adulterated gold and/or silver.

Perth Mint sold diluted gold to China, got caught, and tried to cover it up | ZeroHedge

If Perth Mint will try and slide a small reduction in purity by the PRC/CCP, I can't doubt they'd butt-fuck everyone else.

The Perth Mint is sold by many fUSA based precious metal sellers, for example, APMEX.

The Perth Mint Gold | The Perth Mint Gold Bullion | APMEX
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I read this a few weeks back. IIRC, the "adulteration" was very slight as proven by chemical and other testing after the fact. And we're talking about China, a nation that excels at selling junk and ripping other nations off. I would note well that Perth is the Australian official mint, and China is in a state of defacto economic and covert intelligence warfare with the Aussies.

Of course the Aussie government that owns Perth is also filled with fascists, so there's that. Still, my guess is that China was blowing smoke on this one. YMMV.
 
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