Do you want bankruns? Because this is how you get bankruns.
I know if I think this is going to happen I'll be closing my bank account immediately.
this post was submitted on 16 Dec 2024
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Worse case scenario I lose ~$1000, billionaires lose billions and the banks that are “To big to Fail” Fail. I see this as an absolute win with a 1000 margin of error acceptable losses.
And people like me lose everything and starve because we can't get our meds and food. Absolute win my ass
Do you want another Great Depression? Because that's how you get another Great Depression.
He did say he would make America Great again.
People are saying it's the greatest depression. We're gonna make sure it's huge. Best, biggest depression ever. You'll see. Huge depression.
I pray to saint luigi that these clowns will be removed from power.
By any means necessary.
So we're seeing this and decided nothing can be done for the next 4 years?
Well, at least my $0 nest egg will be safe.
Sorry, there's a "Burden Tax" on anyone with less than $10 mil in assets.
That'll make the poors pull themselves up by their bootstraps!
(/s, just in case...)
When Musk worked with PayPal, which he also wanted to change to "X", he wanted it to be some kind of one stop universal banking and finance website.
I'm imagining they want to disband the FDIC so that they can both fuck with crypto currency and also turn Twitter into some kind of commerce website
Seems bad idk
This is one of those things where I'm torn between "there's no way the cabal of competent capitalists running this entire circus would ever allow this because a bank run would destroy the mountain of fictitious capital that is their dragon's hoard" and "oh fuck, I'm not sure any of the cabal of capitalists that run this circus are competent anymore, they might actually do it."
If it's in a bank, that's peasants' money, not the stock options and real estate and foreign accounts and Bitcoin investments and the other thousands of ways the capitalists hide money.
And why wouldn't they cause another bubble to pop that the government would be forced to bail them out of?
The bank's money is the capitalists' money; that's what they're loaning out to each other and investing into stocks. A mass bank run would run through Wall Street like a wildfire.
And the FDIC is the government bailing them out, that's the entire point of insuring money in bank accounts.
Look at it this way, if they wreck the economy, then at least we know if the power brokers are still competent or not, and who is whose figurehead. It would answer so many questions.
I’m just not willing to pay the price for such knowledge
if they wreck the economy
🙂
This is definitely Musk wanting to add PayPal features to twitter without regulatory expenses, right?
Actually this could be a good thing. It could create a mass exodus from big banks to credit unions. As credit unions have their own insurance program separate from FDIC
I'm guessing you mean exodus.
Also, some credit unions suck. I support them overall and I use one myself, but I am very displeased with it.
Damn you autocorrect
Until they get to that one.
Panic of 1930 v2: Electric Boogaloo
You joke but I'm starting to think I should pull my retirement before these goons get to it...
I'm seriously looking at options in buying up foreign currency because I'm starting to doubt the viability of the dollar. There are banks in LA and NYC that will let you open an account in Yuan but it's like a $10,000 minimum balance.
Are they insured? If not why not just get Bitcoin, at least we know that eventually well go back up
I'd diversify. At this point I have limited trust in bonds much less stocks
I'm thinking about buying a farm
They want to pump crypto and dump it to buy real estate and public assets during the depression, and then literally own the country.
Hopefully it just forces a revolution but idk if Americans are aware enough of what's going on...
No revolution till they can't buy a bag of slop from Mickie's and a bag of dissociation powder on the corner.
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