2029 looking a lot like 1929.
Destabilize?
No, this is far worse. Big banks will just take your money. Credit Unions? I have no fucking idea.
I also can't just walk into my bank and pull out $10k without raising all sorts of questions and concerns.
Jesus fuck.
When gambling on the failure of stocks is allowed you get stupid people trying to tear the whole thing down over a quick buck smh.
You should be able to pull out $10k fairly easily. When you go to spend $10k in cash, that's where you'll get a ton of resistance.
So keep bank receipts for large cash withdrawals.
Jesus fucking Christ on a stick CAN WE HAVE AT LEAST ONE YEAR WHERE THERE ISN'T SOME MAJOR FIXKING BULLSHIT. 😡
No way this can backfire
The 2020's are looking to end like the 1920's.
Not a recession, but a massive depression.
Trump (2 weeks after everything all the experts said would happen happens): Noun one knew how complicated banking is... my uncle, the MIT professor; huege brain was surprised this happened. An MIT professor didn't think this could happen; speaking of things that happen, Batron... where is Batron? Where is, possibly, my "favorite" son? The crypto visionary. Let me tell you about the importance of crypto. Did you know this stuff is mined? Like from the earth? More valuable than water it is. Looking to back the usd by crypto and then by water. It's free it just drops from the sky like "Bing, Bing Bing bing" might as well as be kaching!!
I fucking hate that what you wrote could be credibly said by him. I mean except how eloquently you put it lol
Just where the fuck will people do their banking without FDIC?
I saw that asshat Andreesen lying his fucking ass off on Rogan about how the poor little tweedums on the right were being "debanked" because of "free speech", but not anyone else.
Meanwhile, what the hell would you call something like this?
The right has people within it that are just so insane that I really do think some would withdrawal their money from the bank, and set all their own cash on fire if they thought it would pwn teh libz.
A MAGAt would eat his own shit if he knew a WoKe LibRuL would have to smell it
I would just avoid ALL US banks. Canada has CDIC and our future Trumpian PM hasn't been paid yet to kill it.
US stores don't care where the money comes from so that could be an option.
Offshore banking: no longer just for the rich!
Credit unions use the NCUA instead of FDIC. So if they don't go after that as well there are still some options.
Wasn't lack of regulation what caused the 2008 recession?
Sort of. 2008 happened because new financial products called CDOs allowed shit loans to be turned into gold, and people insured that gold.
More regulation may have helped, but there was a very specific cause.
I think you misspelled "Poor people trying to live above their divinely ordained station!"
Didn't a whole silicon valley bank just wipe out its customers savings by not being fdic insured
Apparently not. They managed to set themselves up in such a way that caused the failure, but the majority of depositors had over the $250,000 cap on FDIC insured assets.
Where do the millionaires on Trump's cabinet store their money? Because I know those greedy assholes dont want to loose their own bucks.
They don't care if they tank the dollar, it will make the assets in the Strategic Dogecoin Reserve that much more valuable.
Pretty sure the plan is to actively tank the dollar
The question is, how do you bet against the US Economy and for whatever selfish fuckhead of a plan they have.
Might as well take a gamble and put all my money in bitcoin if it’s not FDIC insured
Now that is the steal of the century if he pulls it off.
Everyone ready for 1+ trillion to go missing?
And of course, his pick for secretary of the treasury who would oversee all regulations of the stock market is a hedge fund billionaire 🤦🤬
That's not a recession. That's a depression
Everybody got a mattress?
I also hear coin hoards were once popular.
Of course, you could just invest in cheese.
Looks like a bank run is back on the menu, bois!
Can someone please tell me which country has US-style nonprofit banks (credit unions) where I can store hundreds of thousands of dollars without monthly fees?
Should I start stuffing my money under my mattress right now?
If rapid inflation occurs, then no (invest in non-monetary assets). If a bank run occurs then yes. Both could definitely happen if they can't manage to cut trillions of dollars of spending but further cut corporate taxes while deregulating banks and consumer protections. Damned if you do, damned if you don't.
I can walk into a bank and get approved to a loan with payments equal to 70% of my income. Regulations are already criminally absent.
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