Move along. Nothing to see here. Powell, Yellen and Dimon say the US banking system is sound and secure. If some people wanted to prove them wrong they would coordinate a one day mass deposit withdrawal from every one of these banks. Let’s see how sound and secure the banking system really is.
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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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Why would anyone keep their money in a bank?
Jim, what’s your take on credit unions as a viable alternative to banks?
Not for interest income, but for availability of funds in cash, if this banking contagion continues & gets worse?
I’ve had my money in the same credit union for 40 years. They are now paying 3.75% on their high yield savings accounts. No place is absolutely safe. Bad managers can always blow up a bank or credit union.
How can I submit something for a possible post?
This contact email ? [email protected]
Yes. Just send it to my email.
You can lose your money in a MM fund.
Bannon had a couple of regulars who are economists on this morning. They were discussing a report from Stanford where they had analyzed not the “official” stats but rather what would be the situation were all bank holdings marked to market. The study concluded 1,000 banks would be flat out busted. Marked to market, for the first time the “not Federal” Federal Reserve is bankrupt. Let that sink in ladies and germs. The F’ing FED is busted.
Sure they can go Weimar or f’ around with “Trillion Dollar Platinum Coins” or whatever, but those stupid, stupid, stupid assholes have really done it this time.
Edward Jones is paying over 4% on cash in your brokerage accounts. The 1 month treasury and all the other paper up to six months is 5% with the 30 in the 3’s. INVERTED officially but I see it as also PERVERTED. End the FED NOW!
The FED is not busted, the current fiat dollar is busted/flaming out. The FED is ready to roll out the replacement in July, they are as slimy as ever but not busted. What’s in your wallet come July?
Who owns the FED? SS in 3….2….1.
Most people don’t have any savings anymore.
With fractional reserve banking (the only kind that is ALLOWED thanks to the FED), EVERY bank is insolvent from day one. People are finally deciding to no longer play the shell game so its all falling apart.
Title says all that needs to be said.
The only thing safe right now is real assets that have no liens.
Too bad that your home can never be a real asset with no liens.
Powell, Yellen, and Dimon are members of the liberal-fascist Council on Foreign Relations (CFR). Larry Fink of BlackRock is a CFR director. BlackRock, JPMorgan, Citigroup, BofA, and Goldman are CFR sponsors: cfr.org/membership/corporate-members
Paul Warburg, the “architect of the Fed” a century ago, was a CFR founding director. Eugene Meyer, Fed chairman (1930-33) when some 9000 US banks failed, was a CFR member. He purchased the WashPost in 1933.
“Those who cannot remember the past are condemned to repeat it.”