psychgirl
Has No Life - Lives on TB
Ok, that’s too weird!
ECON [FINANCE] First Deathburger Thread of the 2023 Banking Crisis. ALL welcome (hall passes at the door). Have At It.
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psychgirl
Has No Life - Lives on TB
What?!
vector7
Dot Collector
zerohedge: the next PPP program gonna be lit
Meaning we will be burning cash to cook food and keep the house warm.
If we're not already in a Quarantine Camp
View: https://twitter.com/ChrizDDv3/status/1636052064240386058?s=20
Meaning we will be burning cash to cook food and keep the house warm.
If we're not already in a Quarantine Camp
View: https://twitter.com/ChrizDDv3/status/1636052064240386058?s=20
FedNow to launch by mid-2023, Fed official says
The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.
Its the infrastructure for the CBDC. Once its in place all it takes is a button push to populate an account for every person in the country and transfer account balances from the bank to FedNow service to be used as digital currency.
The trick is making you want it to happen.
psychgirl
Has No Life - Lives on TB
I kind of know what it is, I’m just wondering why they are saying it’s happening already?!FedNow to launch by mid-2023, Fed official says
The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.www.paymentsdive.com
Its the infrastructure for the CBDC. Once its in place all it takes is a button push to populate an account for every person in the country and transfer account balances from the bank to FedNow service to be used as digital currency.
The trick is making you want it to happen.
Thus the current SVB foofaraw ...
The Hammer
Has No Life - Lives on TB
We’re involved with both FedNow and the recent CBDC internal PoC testing and they have nothing to do with each other.FedNow to launch by mid-2023, Fed official says
The federal government’s new real-time payments system should be ready for use by the middle of next year, Fed Governor Michelle Bowman said in a speech this week.
Its the infrastructure for the CBDC. Once its in place all it takes is a button push to populate an account for every person in the country and transfer account balances from the bank to FedNow service to be used as digital currency.
The trick is making you want it to happen.
Marthanoir
TB Fanatic
Codeno
Veteran Member
I thought that I had pretty much worked through my "forgiveness list" with the Lord.
Forgot about Bank Of America.
If they control it all anyway, they can just take what they want, when they want.
Demodave
Veteran member
Went to the local bank Monday am for a wire transfer. No issues. Then went in the afternoon. Took out substantial cash. No issues. Asked if they would match another banks savings rate. No issues. In the afternoon they did say they received more phone calls that day then they did all last month. Then went to Costco, never seen it so slow.
Seems alot of folks are asleep at the wheel.
Seems alot of folks are asleep at the wheel.
Codeno
Veteran Member
Yep.
I'm guessing that there are a lot of informed folks, too, that are just "crisis weary".
Profit of Doom
Dismember
Maybe you’re misdoomered.
RememberGoliad
Veteran Member
Probably. I mean, the email came from....a bank. (Doesn't matter which one at this point in time, really, does it?)
West
Senior
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West
Senior
U
Unintended consequences, a bunch of CPAs would lose out on a huge mandated cash cow.
Dollar Short
Veteran Member
Create them and re-distribute them "fairly and equitably"
psychgirl
Has No Life - Lives on TB
Kroger was dead tonight too.
Yay!
I ran in after work. Thought it would be packed!
I guess we’re the only ones who think something is up lol
Profit of Doom
Dismember
Save the pallet for firewood later.
stormie
Veteran Member
While doing her sonogram, I was chit chatting with one of my patients today. She mentioned having just gotten off of work so I asked where she worked. She said Wells Fargo. She didn't tell me what her position was, but I'm assuming a teller. I asked her what she thought about the SVB failure and she gave me this canned, very practiced answer about investors pulling out of the bank having caused the crash....blah blah blah.
I asked her if people were coming in to take their money out. She said there were a few that did, but mostly A LOT of scared people calling and coming in asking questions about how safe their money is in Well Fargo. She evidently gave them the same spiel she gave me to keep them calm. Then as we were ending the conversation she said this is all very scary and that she and her husband were making "plans". So it appears more people are aware. I think the herd is very restless and it's not going to take much for the stampede to begin.
I asked her if people were coming in to take their money out. She said there were a few that did, but mostly A LOT of scared people calling and coming in asking questions about how safe their money is in Well Fargo. She evidently gave them the same spiel she gave me to keep them calm. Then as we were ending the conversation she said this is all very scary and that she and her husband were making "plans". So it appears more people are aware. I think the herd is very restless and it's not going to take much for the stampede to begin.
Rebel_Yell
Senior Member
I just got one of those too, but I never believe very much that comes from a lawyer, politician, or banker.
"They have been in business for over a hundred years. Their long history of consistent, secure banking decisions is one of the many reasons they are not at risk from the challenges that led to the closing of Silicon Valley Bank."
"With the foresight to see opportunities and challenges in the road ahead, the resources to respond, and the flexibility and innovation to deal with the unexpected, they are well-positioned to deal with and thrive in unexpected circumstances – as they have for the past 100 years and counting. They’re here for the long haul."
Profit of Doom
Dismember
While rearranging the deck chairs, and the band played on.I'm sure the captain of the Titanic gave a soothing talk as well.
night driver
ESFP adrift in INTJ sea
Your bank needs to give that PR Flack a CIGAR (Cuban or at least Canary Islands), and a raise.
THAT is ARTISTRY in PRINT!!!
Profit of Doom
Dismember
Nobody answers at my bank. Sunday one of the two ATMs were out of cash.
Did they ask you to confirm your account info?
Profit of Doom
Dismember
You got a hardon for taxes, dontcha?
Twisted
Contributing Member
Figured i would add the email and change the bank name.... enjoy lol!
THE BANK
Strong and Stable for More Than 123 Years
As I reflect on recent events, I wanted to reiterate THE BANK’s 123-year commitment to staying strong and serving you in any economy. We are steadfast in all we do to support you and appreciate your trust in us.At THE BANK, we’re a commercial bank with strong liquidity, solid capital, and a stable, seasoned deposit base well diversified among consumer, commercial, and wealth clients.
With a de-risked balance sheet, strong capital, solid allowance for credit losses, and proven resilience in navigating changing economic climates for more than a century, we believe THE BANK remains well positioned to stay strong, stable, and committed to serving our clients and communities regardless of isolated industry events and changes in the national economy.
Our board of directors, executive leaders, and associates thank you for your continued confidence in THE BANK. As our nation continues to watch how events unfold following these unusual circumstances in the banking arena, THE BANK will continue to serve clients and communities based on our solid, secure foundation of fundamental principles and financial soundness
The Hammer
Has No Life - Lives on TB
At work today, I heard a guy talking about all the bank chaos making people nervous. But then he said, "but I guess the Federal Reserve is safeguarding everything, right."
So many seem to just believe everything they hear on the news. They're either too busy or too trusting to ask questions for themselves, or even reflect on how so many past assurances have gone poof.
So many seem to just believe everything they hear on the news. They're either too busy or too trusting to ask questions for themselves, or even reflect on how so many past assurances have gone poof.
Dollar Short
Veteran Member
State Employees Credit Union of North Carolina added this message to their website this week:
Can be viewed at this link: NCSECU
Important Notice
In light of recent events, we wanted to take a moment to assure SECU’s members of our continued fiscal strength. As the nation’s second largest credit union with over $50 billion in assets, our deposits come from a diverse array of NC consumers – not any one industry. We are well-capitalized with over $5 billion in equity. Combined with ample liquidity options, your financial cooperative is in a good position to serve you now and into the future.Can be viewed at this link: NCSECU
West
Senior
I'm going to keep harping on this!
Really, why do all of the organizations, fillings and bookkeeping when uncle Sam is in control of it ALL.
If I have to do all my business with mandated electronic currency that the government demands I use and has full control over these currency digits that I think I own.
And spending my time, blood, agony and tears filling, organizing and adding up exactly what I owe in income taxes, and the IRS audits me with nothing to hide cause I pay exactly what I owe and save every receipt.
Wait a minute, what if they outlaw paper reciepts?? He.heh....
No, just suck it. I'm going to stop doing my taxes (if we get a CBDC), let them take the supposedly income tax they think I owe, then I'll build a case with my paper receipts if they take more than I think/know they should have.
Why do taxes, if they know how much income you get. Pay your tax and move on. Or don't. Have to move out.
Just received an email from my advisor at Edward Jones.
Mentioned that they will manage keeping your money, up to $2.5 million, spread across up to 10 separate banks/accounts in order to keep you covered by the $250,000 per account FDIC coverage.
Mentioned that they will manage keeping your money, up to $2.5 million, spread across up to 10 separate banks/accounts in order to keep you covered by the $250,000 per account FDIC coverage.
Profit of Doom
Dismember
So, what bank has been around for 123 years?
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