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Topic: Banks are once again up to their old tricks - Is your money safe? - page 2. (Read 210 times)

hero member
Activity: 2170
Merit: 528
Withdraw your money from banks to your home, store it in a security vault.

That's taking it into extremes. We don't need to go all the way with this. Make sure most of your money is secured somewhere like in a bank deposit box, since those aren't counted into bank's liabilities and as far as I know cannot be taken away in case of bankruptcy.

I have some money on my account. It's less than 10% of all that I have, but I do it because it's convenient. If I had all my money at home in a vault, every time there's a bill to pay I'd have to drive to a nearest post office to pay it. The current system doesn't give you many options. You can say you won't use the bank but you'll either have to use another service like paypal or pay additional fees at the post office and waste your time and money getting there.
legendary
Activity: 2044
Merit: 1018
Not your keys, not your coins!
Withdraw your money from banks to your home, store it in a security vault.

People are fearful and panic so that they withdraw money from bank then buy gold and silver. It is classic reaction when people lose their faith in fiat currency and banks. They will find alternatives such as precious metals like gold, silver and in modern world, since 2009, they have another option that is Bitcoin.

It does not require too much space like gold or silver bars to store. With Bitcoin, you can store it very simply and less heavily than with gold or silver bars. You can bring your bitcoin, its backup around to everywhere.

Robert T. Kiyosaki tweeted as below
Quote
SILICON Valley Bank -SILVERGATE Bank-SIGNATURE Bank. They went WOKE and went BROKE. Crash and Crisis just starting. Pensions, IRAs, 401ks went WOKE going broke. Buy more G,S, BC.  TAKE CARE.
hero member
Activity: 798
Merit: 635
Leading Crypto Sports Betting & Casino Platform
I guess you are mixing some points here, banks tend to benefit more during inflation as the central banks would be forced to increase interest rates which means more money for banks. The FED has been aggressive in hiking the Federal Funds Rate since late 2021, which is a measure to save US businesses including banks in order to attract investors through the attractiveness of stocks and equity markets.

What happened to Silicon Valley is a different thing entirely, it only exposes some of the US banks and the level of the weakness of the banking sector. I believe it won't be business as usual for them onward.

Mind you, decentralized investment can only thrive if too many people are not involved, or else the government will clamp down on it. Imagine a huge percentage of the world's investors turning to decentralized assets, it's certain that the world's economy will collapse.
legendary
Activity: 3514
Merit: 1963
Leading Crypto Sports Betting & Casino Platform
                             Silicon Valley Bank collapse may not be the last. Blackrock CEO warns of 'slow rolling crisis'

Source : https://www.usatoday.com/story/money/2023/03/15/larry-fink-blackrock-warning-silicon-valley-bank/11479410002/

The funny thing is, back in 2008 the Banks were bailed out by the governments ...and now they are blaming the governments for their failure. I quote ==> " Aggressive fiscal and monetary policy since the 2008 financial crisis has contributed to high levels of inflation not seen since the 1980s. “To fight this inflation, the Federal Reserve in the past year has raised rates nearly 500 basis points. This is one price we’re already paying for years of easy money – and was the first domino to drop,” Fink said.

Yes, we all knew bailouts will only help for a few years and then the dominos of the Fiat system will start to drop. I hope people are seeing the signs and securing their wealth in decentralized (non-government controlled) technologies, like Bitcoin.  Wink

Let's discuss....
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