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Bank shutdown

JamesUlrich said:
In the big picture, the only thing I'm still trying to figure out is which one this charlatan administration is going to pull off first: officially start WW3, or completely destroy the economy.
I know they're working very hard at both, just not sure which one will be first...
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given that North Korea is ticked off that the U.S. and South Korea are going thru "exercises", and the north just recently launched a missile i'd suspect WW3
 
Belt Fed said:
Biden strikes again

McDonald’s would never name Ingrid Newkirk, the head of PETA, as CEO because as a vegan nutjob, she’d destroy the company. Joe Biden however doesn’t have that same kind of business savvy because he just nominated an actual communist to be in charge of our banks and currency, AKA capitalism. At least all pretense of him not trying to annihilate this country are gone.
Biden has nominated Saule Omarova to be the Treasury Department’s comptroller of the currency. This wouldn’t mean anything if you had no idea who she is and what the position does.
According to the Treasury Department, this is what the Office of the Comptroller of Currency does:

And this is who Saule Omarova is:
She was born in the Soviet Union and graduated from Moscow State University in 1989 on the Lenin Personal Academic Scholarship. After communism collapsed, she came to the United States in hopes of reviving it here by becoming a professor at Cornell School of Law.
As The NY Post reports, she’s still a commie through and through:

That’s another way of saying she want to nationalize banks, which is as commie as it comes.
“Ms. Omarova has called for ‘radically reshaping the basic architecture and dynamics of modern finance’ including nationalizing retail banking and having the Federal Reserve allocate credit,” said Republican Senator Pat Toomey, who opposes her nomination.
And it would seem Omarova really misses the USSR:

Currency and lending are the engines of capitalism. Why would any sane person try to put a communist in charge of these things? Oh wait, I just answered my own question: because Joe Biden is a lunatic.
The comptroller of the currency, like most presidential nominations, has to be approved by the Senate so Omarova is already dead in the water. Unlike judicial nominees who only need a simple majority, this appointment will require 60 votes she won’t get. Yet another reason Biden is a nut.
Biden nominated anti-gun activist David Chipman to head the ATF and then had to withdraw him. Why does he think he can put a communist in charge of capitalism? Oh wait, I already answered this question: because Joe Biden is a lunatic.
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Well the person he put up after Chipman got the gig and he ain’t much better. The game goes like this. Nominate a psychopath and when he gets shot down nominate a schizophrenic. Schizophrenic looks much better by comparison and gets the gig.

We don’t have to worry about the Russian lady. It’s the next one he nominates we should worry about.
 
Bassbob said:
Well the person he put up after Chipman got the gig and he ain’t much better. The game goes like this. Nominate a psychopath and when he gets shot down nominate a schizophrenic. Schizophrenic looks much better by comparison and gets the gig.

We don’t have to worry about the Russian lady. It’s the next one he nominates we should worry about.
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I understand what your saying however in general I’m worried about the current administration as a whole.
 
If you had picked 3 of the banks whose stock was way down yesterday, KEY, WAL and FRC, and bought their stock, you would be ahead about 30% so far today.
 
Keystone19250 said:
I understand what your saying however in general I’m worried about the current administration as a whole.
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The attitude of most of America:
ata-boy-magnet-mad-magazine-alfred-e-neuman-what-me-worry.jpg
 
You guys are right on. These people are destroying the country.

One thing that I have noticed that has not been mentioned in the news is how Biden is is doing to the US what China is doing to South Africa. He is systematically depleting our various reserves one by one. Here they are:

1. Selling over half of our oil reserves.
2. Sending our reserve ammunition and military equipment to the Ukraine.
3. Depleting the Social Security Trust Fund of a billion dollars for other purposes.
4. And the latest - Over distribution of the FDIC fund.

The last one is a sleeper. That means that if more banks go under, thay might not be able to cover even the first 250K per account.
 
BobT said:
You guys are right on. These people are destroying the country.

One thing that I have noticed that has not been mentioned in the news is how Biden is is doing to the US what China is doing to South Africa. He is systematically depleting our various reserves one by one. Here they are:

1. Selling over half of our oil reserves.
2. Sending our reserve ammunition and military equipment to the Ukraine.
3. Depleting the Social Security Trust Fund of a billion dollars for other purposes.
4. And the latest - Over distribution of the FDIC fund.

The last one is a sleeper. That means that if more banks go under, thay might not be able to cover even the first 250K per account.
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Sadly, you are right on the money... Add to that list the number of war provocations like - Pelosi to Taiwan, blowing up Nord stream pipeline (yes, I said it), the multiple lines in the sand that Russia has drawn and the US has crossed, etc.. The US (and NATO) is effectively fighting Russia in Ukraine. At what point does Russia bring it to our soil? China is with Russia (and a couple other small potatoes in the middle east), do we really want to go head to with Russia and China?
 
Yep, when the FDIC runs out of money for insured depositors the premiums solvent banks pay will have to increase. Same pyramid scheme of the SSI/Medicaid …funded by the working - drained by the freeloader.

Those faltering (US) banks/investors have their interests in The Belt and Road Initiative among other things. China providing funding to build up and essentially ‘own‘ over 150 countries, and where are they getting the money…?

As the US is allowing farm and industrial sales to foreign entities, (even failed SVB will be sold to British HSBC) there will be no Wonderful Life after all. Think of Mr. Potter as CCP.
”Don’t you see what’s happening? Potter isn’t selling. Potter’s buying! And why? Because we’re panicky and he’s not.” George Bailey, It’s a Wonderful Life
 
Could it spread internationally?

"Credit Suisse on Tuesday published its annual report for 2022 saying the bank had identified "material weaknesses" in controls over financial reporting and not yet stemmed customer outflows."

finance.yahoo.com

Credit Suisse stock slump triggers close monitoring by regulators

Credit Suisse shares slumped by as much as 30% on Wednesday after its largest shareholder said it could not provide further support, prompting the Swiss bank's CEO to make new assurances on its financial strength. Saudi National Bank (SNB), which holds 9.88% of Credit Suisse, said it would not...
finance.yahoo.com finance.yahoo.com
 
shanneba said:
Could it spread internationally?

"Credit Suisse on Tuesday published its annual report for 2022 saying the bank had identified "material weaknesses" in controls over financial reporting and not yet stemmed customer outflows."

finance.yahoo.com

Credit Suisse stock slump triggers close monitoring by regulators

Credit Suisse shares slumped by as much as 30% on Wednesday after its largest shareholder said it could not provide further support, prompting the Swiss bank's CEO to make new assurances on its financial strength. Saudi National Bank (SNB), which holds 9.88% of Credit Suisse, said it would not...
finance.yahoo.com finance.yahoo.com
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pretty soon, we're gonna be seeing bankers, stockbrokers jumping outta windows like the market crash of 1929.....


 
I read one article this morning that said Wall street investors that were shorting the bank stocks have made about $3 billion so far. That wouldn't be most investors though.
 
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