Bank Runs! What's Going On? - Patrick Boyle

[The_Krakenite]

As the tip of the iceburg hits us during this great financial crisis 2.0 .... there is something I find interesting.

While the US government is doing emergency measures tonight to come up with new creative accounting methods in order to (create something out of nothing) and prop up the banks that are not just taking on water, but already under-water...

Those blue-chip cryptos seem to be doing very well for some reason! Maybe people just don't trust FIAT right now. I wonder why....

 

[piezoe]

As the tip of the iceburg hits us during this great financial crisis 2.0 .... there is something I find interesting.

While the US government is doing emergency measures tonight to come up with new creative accounting methods in order to (create something out of nothing) and prop up the banks that are not just taking on water, but already under-water...

Those blue-chip cryptos seem to be doing very well for some reason! Maybe people just don't trust FIAT right now. I wonder why....


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The U.S. does not "prop up" insolvent private banks. They go belly up and the share holders take the hit.

 

[tomkat22]

As the tip of the iceburg hits us during this great financial crisis 2.0

Dude,c'mon,you're not seriously trying to compare this to 2008 are you? 2008 was freakin nightmare.

 

[vanzandt]

Dude,c'mon,you're not seriously trying to compare this to 2008 are you? 2008 was freakin nightmare.

Economically no. But make no mistake this market is going down. Near term, the fall-out from this won't be too ugly. But the market was going down anyway before all this.

Draw some fibs, they work quite well in times like these.
You'll get a bounce, and it will be a nice bounce if the general mantra turns to "blah blah blah,,, all is well and Powell is lightening up."

But mark this post... this time next year... we are going to be much lower. SIVB or not.

Unless of course someone puts a bullet square between Putin's eyes... if that happens... then all bets off because we're all gonna party like drunk mother f'rs as the whole game resets itself.

 

[Overnight]

...
Unless of course someone puts a bullet square between Putin's eyes... if that happens... then all bets off because we're all gonna party like drunk mother f'rs as the whole game resets itself.

C'mon man, keep in line with the meme. He will "mysteriously fall from a window."

Is potato.

 

[TheDawn]

PRODUCTIVITY!!!.

I am starting to think the best and the fastest way to get rid of inflation is via a barter economy where I give you things and/or do things for you in exchange for your things and/or your tasks and putting money in t-bills or term deposits earning interest or even in UVXY (@KCalhoun 's favorite). That way regardless how the economy is going, we will still be shielded because we will at least be getting what we need.

 

[themickey]

I am starting to think the best and the fastest way to get rid of inflation is via a barter economy where I give you things and/or do things for you in exchange for your things and/or your tasks and putting money in t-bills or term deposits earning interest or even in UVXY (@KCalhoun 's favorite). That way regardless how the economy is going, we will still be shielded because we will at least be getting what we need.

How does that work out for sick, unemployed, retirees?

 

[TheDawn]

How does that work out for sick, unemployed, retirees?

Perfect for unemployed and retirees since they have ALL the time in the world. Instead of looking for jobs, they can offer to mow the lawn, babysit, remove snow (really handy for Californian residents this year), chauffering, doing handyman work for their neighbours and local communities in exchange for basic groceries and other personal items. Or they can grow their own vegetables and fruit in their backyard and exchange them for the things they need with their neighbours and local communities. Since grocery is the most expensive item that has experienced the highest inflation, this should ease the majority of the inflation. The illness is only temporary; you are not going to be forever sick. Even if you are disabled but still otherwise healthy, you can still do work in exchange for the things that you need.

All it takes is one person to do it and eventually it will take off and become a trend. Argentina is already embracing a barter economy to combat inflation. It would work. Yes it has limitations and is inconvenient but so is working double and triple jobs just to make ends meet. If you are working anyway, why not go to the source and work directly for the goods that you need instead of working to get $$ and then turn $$ into goods? Why not exchange them directly for goods? For example, instead of working as an uber driver on the weekend, why not just advertise to drive people around in exchange for groceries? Elderly would love to have people drive them to their medical appointments when their own kids live several cities away and then cook them a nice hot meal in return and we a have an aging baby boomer population.

 

[themickey]

Perfect for unemployed and retirees since they have ALL the time in the world. Instead of looking for jobs, they can offer to mow the lawn, babysit, remove snow (really handy for Californian residents this year), chauffering, doing handyman work for their neighbours and local communities in exchange for basic groceries and other personal items. Or they can grow their own vegetables and fruit in their backyard and exchange them for the things they need with their neighbours and local communities. Since grocery is the most expensive item that has experienced the highest inflation, this should ease the majority of the inflation. The illness is only temporary; you are not going to be forever sick. Even if you are disabled but still otherwise healthy, you can still do work in exchange for the things that you need.

All it takes is one person to do it and eventually it will take off and become a trend. Argentina is already embracing a barter economy to combat inflation. It would work. Yes it has limitations and is inconvenient but so is working double and triple jobs just to make ends meet. If you are working anyway, why not go to the source and work directly for the goods that you need instead of working to get $$ and then turn $$ into goods? Why not exchange them directly for goods? For example, instead of working as an uber driver on the weekend, why not just advertise to drive people around in exchange for groceries? Elderly would love to have people drive them to their medical appointments when their own kids live several cities away and then cook them a nice hot meal in return and we a have an aging baby boomer population.

Gotta admit, our lives are too competitive, too greedy, too dog eat dog, too much stress, too much money orientated, too discontented. All for what, so we can climb over bodies to have more. Pisses me off how society has evolved with greed, want, need it yesterday....
We're on a treadmill wanting to go faster and faster.

 

[TheDawn]

Gotta admit, our lives are too competitive, too greedy, too dog eat dog, too much stress, too much money orientated, too discontented, all for what, so we can climb over bodies to have more, pisses me off how society has evolved with greed, want, need it yesterday....

Now it's our chance to reverse course and do things right. Give back and pay it forward with your own skill and talent. Biden wants to save the soul of America; I think this is the way to do it. Offer to help your neighbour and local community.