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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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ANOTHER COMING RECESSION? Federal Reserve funds banks billions, market is broken
“The Federal Reserve just stepped in, lending hundreds of billions of dollars to major banks to keep them afloat. Why? Banks didn’t have enough money to trade to each other. So, the Fed stepped in. And it’s happened now THREE DAYS IN A ROW. Overnight interest rates have spiked. And now economists say the Fed will remain active in the repo market for the time being. Glenn explains why these signs show there’s something wrong with the market and we need to do something before another crash.”
History doesn’t rhyme…it is a nightmare flashback…this cartoon is as accurate today as it was whenever it was drawn.
In late 2006 I was 56 and watching Glen Beck on CNN. He had Peter Schiff on…who was nick named Dr. Doom. After their discussion I was convinced from my own research and from a few others I followed and respected banging the same drum Schiff was, I knew it was time to get out of the Market. I did.
Many of my Boomer peers were soon slaughtered and have never recovered.
Having done the same thing in 1999, and only having been back in a short time I listened to the echo of my last radar warning flipping everything into a Money Market fund, Bonds, and PMs as I did then as well.
Now, I part way with Beck spiritually Big Time…his cult Mormon lunacy is…well, cult lunacy, but he has been a sound voice on many issues…and this vid is one.
Talk about a carney in the Bankster coal mine!
I have moved a great deal of fiat to a Credit Union…it’s a wise precaution.
That last line in your comment was the nugget I was searching for, Mark.
Funny, but I took steps to do exactly that in this past week.
Preservation of capital. Of wealth. Various strategies. I defer to your experience,
and everything I’ve read and heard about the storm clouds gathering.
Thing certainly seem to be coming fast and furious lately, eh?
Bubble is floating around, and all it takes is one small prick for it to pop.
Good Luck w/ your action plans, amigo.
Shoot Dan, I’ve been in preservation mode over a decade. I have always gotten out of stocks too early…and back in too late, but have never lost a penny. Taking profit, and being wise with it is a wonderful thing.
Got back in late and out early again this last recession round up…but no regrets. I live a modest life style and have had and live an abundant life. Most of what I do now is prepping and legacy planning.
Building a second house at 70 in deep woods behind a second gate on my farm tells you where my head & heart is, and what I think is coming. I think it’s one of the best trades I can make for fiat and short term treasuries…and for my family.
I think the Credit Union move is like sleeping in a life boat while on the Titantic.
You might very well crap all over me … but I will say if for your own well-being. I reside in Canada. Over here – at least – credit unions take on the riskiest loans …. restaurants …. gold courses. No idea what it is like in the U.S. But I would look into this. If you have to keep cash somewhere … see if you can find an institution that offers SEGREGATED ACCOUNTS.
I agree with you about “segregated” as does George:
Motley,
I’m talking about the coming ‘Too Big Too Fail Bank Bail In’. CU’s and small Community Banks will be tremendously safer after what is coming hits.
I put this up on another thread:
If you have to have money in a bank…I know I do…have the majority of it in a Credit Union or a small Community Bank…stay away from: TOO BIG TO FAIL.
Six of the TOO BIG TO FAIL:
1. Citigroup $2.5 trillion
2. Morgan Stanley (NYSE:MS) $2.0 trillion
3. Bank of America $1.3 trillion
4. Goldman Sachs (NYSE:GS) $814 billion
5. JPMorgan Chase $391 billion
6. Wells Fargo $159 billion
You are TOO SMALL FOR ANOTHER SCREWING.
If you think TARP was a screwing wait until your money is magically turned into ‘Bankster Bail In’ – ‘Bankster Stock’…Reset at 50% of (or less) it’s former value.
Frank/Dodd is a Bankster TRAP.
Come on…they are telegraphing the ‘Bail In’ sucker punch…don’t think you can duck in time…get the hell out of the ring…I’m begging you!
Back to the Future:
We’ve All Been Warned (the Cyprus “Bail-In” Model is coming to a Country Near You)
https://www.zerohedge.com/news/2015-10-28/weve-all-been-warned-cyprus-bail-model-coming-country-near-you
AMERICA’S BEST CREDIT UNIONS IN EACH STATE 2019 LIST
https://www.forbes.com/best-in-state-credit-unions/#54cdf91f6167
I started selling stocks Monday and sold the last one a little bit before the market turned down today. Too much uncertainty in the world and October has a bad reputation.
Bend over middle America, the big orange dick awaits you!
https://reclaimthenet.org/silicon-valley-hib-visas-institutional-slavery/
https://www.propublica.org/article/employers-used-facebook-to-keep-women-and-older-workers-from-seeing-job-ads-the-federal-government-thinks-thats-illegal