Global banking crisis

[Queen K]

What Covid didn't do in 2020 appears to be picked up by the newest, latest crisis in 2023.

The global banking crisis. Watching banks fail in the States is awe inspiring because we assume there will be no contagion in Canada. Is that a fair assessment though?

Is Europe only holding it together? you can only drain your lending power to various sources and causes for just so long.

https://www.cnn.com/business/live-news/ ... index.html

[GordonH]

This is most likely bringing a huge smile/laughter to both Xi Jinping & Vladimir Putin.

[gertlush]

we"ll get the usual "no one could have seen this coming!"

[Queen K]

Expect more turbulance in banking.

Ya errr, so what now? Cash under the mattress?

https://www.cnn.com/2023/03/25/business ... index.html

[GordonH]

Expect more turbulance in banking.

Ya errr, so what now? Cash under the mattress?

https://www.cnn.com/2023/03/25/business ... index.html

Probably better off converting true savings into silver or gold instead of cash under the mattress.

[gertlush]

No problem, Yellen said everybody's deposits are covered... gamble away Wall St!

[GordonH]

No problem, Yellen said everybody's deposits are covered... gamble away Wall St!

CDIC Guarantees up to $100,000... those who have more then that in their bank, should seriously think about convert extra amount into Silver or Gold.

https://www.cdic.ca/

[gertlush]

Thats for the little people, there's a reason I bought a bunch of Senators.

[gertlush]

Yellen earned $7 million in speaking fees in 2019/20 before she got her current gig. Speaking to whom? Hedge funds, Investment banks etc. The stench of corruption is sickening.

[Bsuds]

Take note that many credit unions are not covered by CDIC

[alanjh595]

No problem, Yellen said everybody's deposits are covered... gamble away Wall St!

CDIC Guarantees up to $100,000... those who have more then that in their bank, should seriously think about convert extra amount into Silver or Gold.

https://www.cdic.ca/

Funny that mention that. I just bought 2 bars on Friday. Each went up in value $100 by Saturday morning.

Capture 1.jpg

[GordonH]

Take note that many credit unions are not covered by CDIC

They are insured by https://www.bcfsa.ca/public-resources/c ... -insurance

[seewood]

The fed and other banks are battling two divergent issues right now: raising rates to tame inflation and conversely to save the banks and the economy by keeping rates low.

I have $$ in gold ETF's, would be nice to have some bullion buried in the back yard though.

[Bsuds]

Take note that many credit unions are not covered by CDIC

They are insured by https://www.bcfsa.ca/public-resources/c ... -insurance

good to know

[alanjh595]

CDIC Guarantees up to $100,000... those who have more then that in their bank, should seriously think about convert extra amount into Silver or Gold.

https://www.cdic.ca/

Funny that mention that. I just bought 2 bars on Friday. Each went up in value $100 by Saturday morning.

Capture 1.jpg

I just got the invoice 20 minutes ago and discovered that I made $132/bar while having my afternoon nap on Friday.
I have ordered 2 more bars for tomorrow.
On Friday, I physically received 1 bar, and 1 to be picked up on Monday at the same price (they ran out).

I have lost faith in our banking system and their power to seize/freeze our deposits due to suspicious activities such as what happened during the Truckers Occupation of Ottawa.