General Forums => The O' Club => Topic started by: Eagler on March 13, 2023, 09:06:50 AM
Title: SVB
Post by: Eagler on March 13, 2023, 09:06:50 AM
The beginning of the end or the end of the beginning?
I see either more bank defaults or the fed given the green light to save them which will increase inflation as rates freeze / decline and the dollar is futher devalued with more printed $$$ out of thin air..
Wouldn't be surprised if the manipulated market is not green by end of day..
Eagler
Title: Re: SVB
Post by: Meatwad on March 13, 2023, 01:14:57 PM
Due to not being able to say certain things cause of peoples feelings, the policies of that bank brought the downfall upon themselves
Title: Re: SVB
Post by: Eagler on March 13, 2023, 01:35:57 PM
But we quickly backed any losses to it and the now other two failed banks...
This will increase inflation as the fed will probably reduce interest hikes or stop them entirely while looking for the 1st opportunity to restart QE...both which will only increase inflation
But then if we can shore up Ukrainian pensions, saving the entire US economy should be a piece of cake...
Eagler
Title: Re: SVB
Post by: -gg- on March 13, 2023, 01:38:26 PM
He cant help it. TDS does strange things to people
Title: Re: SVB
Post by: DmonSlyr on March 14, 2023, 08:08:54 AM
This has absolutely nothing to do with regulations. This is all about A. Interest rates increasing too fast and B. Get woke go broke by taking all of this money from people who made extravagant gains in the market putting their money in SVB and then SVB not being able to loan it out.
Listen to Charles Payne describe what happened. This guy knows what's up.
The other crazy interesting thing is that the Simpsons predicted this SVB crash. Another story in predictive programing. Damn they are good.
https://www.tiktok.com/t/ZTR7rxssk/
Title: Re: SVB
Post by: MiloMorai on March 14, 2023, 08:11:03 AM
You know not what you are talking about. Certainly it wasn't poor decisions by management at all... nahh, surely it wasn't, especially after receiving 300% growth in deposits in 2 years with strong interest rate growth at the same time.
Title: Re: SVB
Post by: CptTrips on March 14, 2023, 05:24:58 PM
Gonna catch this tonight 8pm central:
Title: Re: SVB
Post by: MiloMorai on March 14, 2023, 07:30:24 PM
You know not what you are talking about. Certainly it wasn't poor decisions by management at all... nahh, surely it wasn't, especially after receiving 300% growth in deposits in 2 years with strong interest rate growth at the same time.
That wasn't the truth I was talking about.
Title: Re: SVB
Post by: Brooke on March 15, 2023, 04:47:28 AM
It didn't help that restrictions that would have stopped what happened were removed by the last Prez.
According to this analysis, that wasn't a factor:
"Silicon Valley Bank Would Have Passed The Liquidity Coverage Ratio Requirement": https://bpi.com/silicon-valley-bank-would-have-passed-the-liquidity-coverage-ratio-requirement/
The above analysis might be biased or might not be, but at least has details. Unlike typical news, which is mostly designed to assign people opinions, not to critically examine anything.
Title: Re: SVB
Post by: Eagler on March 15, 2023, 07:44:01 AM
Poor management by woke management caused the collapse
Raised rates is designed to push out these poorly run junk outfits..
What happens the first time one might be in trouble?
We jump in with both feet to save everyone from any pain...basically reversing the effort of the feds higher rates..
Something tells me that ain't gonna work in the long run lol
Eagler
Title: Re: SVB
Post by: DmonSlyr on March 15, 2023, 12:47:31 PM
"Silicon Valley Bank Would Have Passed The Liquidity Coverage Ratio Requirement": https://bpi.com/silicon-valley-bank-would-have-passed-the-liquidity-coverage-ratio-requirement/
The above analysis might be biased or might not be, but at least has details. Unlike typical news, which is mostly designed to assign people opinions, not to critically examine anything.
He wouldn't know the "truth" If they fired an AG in the Virgin Islands over it :rofl
Title: Re: SVB
Post by: mthrockmor on March 16, 2023, 10:24:03 AM
So many great comments!
The end goal is Central Bank Digital Currency, or CBDC. It would look identical to your current debit card, but it creates a behind the scenes social credit system like Communist China. The promise is to not be the CCP, but we've seen how government employees view the average American.
Diversify what you have. Open an account at a credit union, put chunks of cash there. Pull out paper dollars and hide them. Buy silver coins. Get a couple crypto wallets, not to be wealthy, but to have the means to buy and sell basic goods using crypto currencies. Then, guns that make sense (.22, .270/30-06, 9mm, not some crazy .50 cal or machine gun, etc), and basic food stores.
As small banks become distressed, they will move into the Fed Reserve backing them up for liquidity, which sets up the CBDC framework. Big assets are going to move into the top 4-6 banks in America like Wells Fargo, Chase, etc., to big to fail, then the Black Swan happens. All banks will shutter for a few days, and when they come back up CBDC will be implemented. We have to refuse to use, non-violent protests, etc - we resist enough we can shut that down.
The next question is at the world stage, which is dollar hegemony. That is the root of Ukraine, soon Taiwan, and also the current economic espionage that is the train derailments, PeMex having 3 or 4 petroleum plants buring, etc.
Anyway, I say SVB is the beginning of the next phase.
Boo
Title: Re: SVB
Post by: guncrasher on March 16, 2023, 10:48:52 AM
boo you want to bet 5 buck it's not gonna happen anytime soon?
I heard the same thing back in the 80s.
semp
Title: Re: SVB
Post by: CptTrips on March 16, 2023, 11:03:54 AM
:rolleyes:
Title: Re: SVB
Post by: Eagler on March 16, 2023, 11:05:12 AM
CptTrips how depressing was that pbs easy money special?
It came on at 10 here and forgot to record it
Eagler
Title: Re: SVB
Post by: CptTrips on March 16, 2023, 11:24:22 AM
The end goal is Central Bank Digital Currency, or CBDC. It would look identical to your current debit card, but it creates a behind the scenes social credit system like Communist China. The promise is to not be the CCP, but we've seen how government employees view the average American.
Yeah nah. One of the goals for CBDC is to operate offline and anonymously in the same way cash does.
You may want to remove the tin foil hat, it's hurting your brain.
Title: Re: SVB
Post by: CptTrips on March 16, 2023, 07:20:58 PM
Yeah nah. One of the goals for CBDC is to operate offline and anonymously in the same way cash does.
You may want to remove the tin foil hat, it's hurting your brain.
"CBDC" = "Central Bank Digital Currency"
That is not the same thing as Bitcoin, Etherium, etc.
CBDC would definitely not be anonymous.
Title: Re: SVB
Post by: Eagler on March 17, 2023, 06:46:42 AM
Digital currency has to be the goal
The control it brings is euphoria to our leaders
Tied to health care, fatties will be forced into a black market to get what is now outlawed to them as the government is now over all health care..
See Canada on what would happen if you protest against them..
But before that happens we will be subjected to events and conditions that make us accept the governments Digital solution..
Either a nice fat depression or dollar value decimated caused inflation...or both ..and all the beautiful er peaceful civil unrest that should blossom from those conditions...should get us there quickly imo
Eagler
Title: Re: SVB
Post by: Nefarious on March 17, 2023, 08:49:06 AM
All banks will shutter for a few days, and when they come back up CBDC will be implemented. We have to refuse to use, non-violent protests, etc - we resist enough we can shut that down.
Sorry, I've got March Madness brackets to tend to.
Title: Re: SVB
Post by: -gg- on March 17, 2023, 09:36:25 AM
Tied to health care, fatties will be forced into a black market to get what is now outlawed to them as the government is now over all health care..
See Canada on what would happen if you protest against them..
But before that happens we will be subjected to events and conditions that make us accept the governments Digital solution..
Either a nice fat depression or dollar value decimated caused inflation...or both ..and all the beautiful er peaceful civil unrest that should blossom from those conditions...should get us there quickly imo
Eagler
They will control everything you can buy.
It might not be the goal or intent but the result is that the people in power will have absolute control over us. Every power gets abused and this will be no eception.
It will be a slow creep. Before we know it, we will be limited in even the food we cab buy. Meat is not good for us and is killing the planet - so maybe we need to limit it's production. Easy to do.
Maybe not allow certain racial groups to buy houses out in the country. Force people into cities. The sky is the limit.
Before we know it we'll be eating bugs for protein and riding in trains or buses.
Title: Re: SVB
Post by: CptTrips on March 17, 2023, 09:37:30 AM
:rolleyes:
Personally, I think they are out to corrupt the purity of our precious bodily fluids.
Title: Re: SVB
Post by: guncrasher on March 17, 2023, 09:51:34 AM
I haven't used cash in 2 years. nobody has limited what I buy other than the bank and that is based on no funds.
not sure what some are talking about, they already have that info. and they're only using it to sell us more crap we don't need.
if you really believe they're love the power then give up cash, after all it will be the first thing that gets banned.
semp
Title: Re: SVB
Post by: -gg- on March 17, 2023, 10:15:09 AM
In cryptocurrency or digital currency everything is traceable and controllable. Every single cent.
Title: Re: SVB
Post by: -gg- on March 17, 2023, 10:22:13 AM
Also, this will be under central control. It's going to be the US currency and it will be under central control. Unlike your bank now.
Title: Re: SVB
Post by: guncrasher on March 17, 2023, 01:20:06 PM
In cryptocurrency or digital currency everything is traceable and controllable. Every single cent.
not everything, but you should pay taxes since it's income that's why they trace it.
semp
Title: Re: SVB
Post by: -gg- on March 17, 2023, 02:09:53 PM
it's not just about taxes.
Just like they control what people can buy with EBT cards. With a US digital currency, every single penny will be tracked - it's entire history. So the government can see every single thing you buy. They could control how every penny is spent if they want too, and they could even eliminate it from existence at any time they want. That's total control of all of your money and no chance for you to hold physical dollars to get around any of it.
Title: Re: SVB
Post by: Vulcan on March 17, 2023, 02:23:25 PM
That is not the same thing as Bitcoin, Etherium, etc.
CBDC would definitely not be anonymous.
I disagree, one of the goals for CBDC is to replicate the characteristics of cash - except do it digitally. Anonymity is considered essential to it's success. And no it will not be a blockchain based cryptocurrency either.
Title: Re: SVB
Post by: MiloMorai on March 17, 2023, 02:32:09 PM
Since I don't use USA currency I don't have to worry about.
Title: Re: SVB
Post by: Brooke on March 17, 2023, 04:49:05 PM
I disagree, one of the goals for CBDC is to replicate the characteristics of cash - except do it digitally. Anonymity is considered essential to it's success. And no it will not be a blockchain based cryptocurrency either.
CBDC would not be anonymous.
From the Fed regarding CBDC:
"Financial institutions in the United States are subject to robust rules that are designed to combat money laundering and the financing of terrorism. A CBDC would need to be designed to comply with these rules. In practice, this would mean that a CBDC intermediary would need to verify the identity of a person accessing CBDC, just as banks and other financial institutions currently verify the identities of their customers."
https://www.federalreserve.gov/cbdc-faqs.htm
CBDC would be like a debit card, not like cash.
Title: Re: SVB
Post by: Brooke on March 17, 2023, 04:54:08 PM
Just like they control what people can buy with EBT cards. With a US digital currency, every single penny will be tracked - it's entire history. So the government can see every single thing you buy. They could control how every penny is spent if they want too, and they could even eliminate it from existence at any time they want. That's total control of all of your money and no chance for you to hold physical dollars to get around any of it.
ebt cards are controlled so nobody goes to McDonald's or alcohol or cigarettes or anything that is not food.
semp
Title: Re: SVB
Post by: Brooke on March 17, 2023, 05:16:50 PM
From people in favor of CBDC, all I usually see is "it wouldn't harm me, and I don't believe there is any potential future danger to it". OK, but does anyone feel that it would benefit you personally?
Title: Re: SVB
Post by: Meatwad on March 17, 2023, 05:51:49 PM
Another way to illegally control the population, one step closer the death of freedom
Title: Re: SVB
Post by: CptTrips on March 17, 2023, 06:49:52 PM
"Financial institutions in the United States are subject to robust rules that are designed to combat money laundering and the financing of terrorism. A CBDC would need to be designed to comply with these rules. In practice, this would mean that a CBDC intermediary would need to verify the identity of a person accessing CBDC, just as banks and other financial institutions currently verify the identities of their customers."
https://www.federalreserve.gov/cbdc-faqs.htm
CBDC would be like a debit card, not like cash.
CBDC has to comply with those rules in the same way cash does. It won't be like a debit card (otherwise then it would just be a debit card).
You do know a lot of the CBDC discussions are in the public domain, and the banks from the countries you mentioned are still figuring out what CBDC is going to be... it's years if not decades away (if they can work it out at all).
All the assumptions you are making are completely wrong. During times of disaster an offline monetary system is essential - and central banks know this.
Title: Re: SVB
Post by: guncrasher on March 17, 2023, 09:06:47 PM
CBDC has to comply with those rules in the same way cash does.
I see our difference.
You are defining "cash" as meaning "your bank account". That is OK.
I am defining "cash" as Federal Reserve notes (i.e., paper $1, $5, etc. bills). That is also OK.
But they aren't the same thing.
Bank accounts are not anonymous.
Federal Reserve notes are anonymous. In financial lingo, they are bearer instruments.
You won't be able anonymously to get a CDBC card. You'll need a bank account or equivalent to get one, including all the ID proof needed to get such an account, and with every transaction recorded and stored.
Quote
It won't be like a debit card (otherwise then it would just be a debit card).
It will be, but with maybe one significant advantage to you, and at least one big advantage to the government.
Quote
During times of disaster an offline monetary system is essential - and central banks know this.
CBDC would require online systems.
Offline is physical currency.
Title: Re: SVB
Post by: guncrasher on March 18, 2023, 12:37:01 AM
federal reserve notes are anonymous. but who cares. I pay all my bills, groceries, everything on line or debit card or creditcard. Ihaven't set a foot in a bank in at least a year, that was to replace a lost debit card.
the government can check at anytime how I spend my money.
you expect me to believe that the new system will be any different, if or ever goes online.
how many bs threads have you posted about how our fredoms are taken away.
remember the one about straws being banned in california? and somehow it was taken out freedoms.
guess what we still have straws around here.
semp
.
Title: Re: SVB
Post by: Vulcan on March 18, 2023, 01:00:42 AM
You are defining "cash" as meaning "your bank account". That is OK.
....
You won't be able anonymously to get a CDBC card. You'll need a bank account or equivalent to get one, including all the ID proof needed to get such an account, and with every transaction recorded and stored.
...
CBDC would require online systems.
Offline is physical currency.
Wrong wrong and wrong.
Nobody even knows what CBDC is going to be right now. Whether it will be some sort of digital tokens stored on a card, or not.
These are things that are all being discussed by central banks (and openly). One of the goals is for CBDC to replace cash, and to do that it must be able to replicate the features of cash (such as offline capabilities). There is no point in rolling our a CBDC if adoption is low (and nobody will 'forced' to use it).
Our difference is I work for a central bank currently discussing CBDC.
Title: Re: SVB
Post by: Brooke on March 18, 2023, 01:41:56 AM
Not sure if this is addressed to me.
Quote
you expect me to believe that the new system will be any different, if or ever goes online.
federal reserve notes are anonymous. but who cares. . . . the government can check at anytime how I spend my money.
Some folks have that same feeling because they don't envision anyone in the government (or with ties to into government) coming after them as a result of legal opposition.
Privacy from the government is in there as a practical measure to hinder that dynamic.
Title: Re: SVB
Post by: guncrasher on March 18, 2023, 02:11:27 AM
Some folks have that same feeling because they don't envision anyone in the government (or with ties to into government) coming after them as a result of legal opposition.
Privacy from the government is in there as a practical measure to hinder that dynamic.
it happens all the time now. inside trading....
you believe in the illusion that we aren't watched by the government. Martha Stewart didn't go to jail for buying a can of tomatoes.
semp
Title: Re: SVB
Post by: Brooke on March 18, 2023, 02:40:17 AM
Our difference is I work for a central bank currently discussing CBDC.
If you work for the Fed, and if you work in the group doing the CBDC planning, or if your are a Fed board member, then I will take your word for it on how CBDC is planned to work.
Otherwise (if you work for a non-US central bank, or work for the Fed but in a capacity not responsible for CBDC), I still have my own thoughts on it.
You said CDBC would allow for anonymous transactions.
If we are talking about US, the Fed says it wouldn't be anonymous: https://www.federalreserve.gov/cbdc-faqs.htm
Of course, since right now it's not implemented, we are arguing over what might be.
I am not going to convince you.
Unless you are working on CDBC's in the Fed, you aren't going to convince me.
But we had a fun discussion about it, I think.
Title: Re: SVB
Post by: Brooke on March 18, 2023, 03:04:30 AM
Quote
you believe in the illusion that we aren't watched by the government.
Semp, I believe that we *are* watched by the government. A lot.
Including in ways transgressing authority (Snowden, etc.).
Privacy protections reduce the amount of that going on.
People get fixated upon the idea of "well, no matter what I do, they can get around it if they really want to, so I won't bother doing anything".
But consider locks on houses and cars, passwords for bank accounts, etc. Those protections aren't 100% effective. Criminals can get around those things if they do enough. But those protections cut down a lot compared to having nothing at all. We deem it worth it to have locks, passwords, etc. to reduce transgressions.
I feel the same way about privacy protections.
Title: Re: SVB
Post by: Vulcan on March 18, 2023, 04:56:16 AM
If you work for the Fed, and if you work in the group doing the CBDC planning, or if your are a Fed board member, then I will take your word for it on how CBDC is planned to work.
Otherwise (if you work for a non-US central bank, or work for the Fed but in a capacity not responsible for CBDC), I still have my own thoughts on it.
You said CDBC would allow for anonymous transactions.
If we are talking about US, the Fed says it wouldn't be anonymous: https://www.federalreserve.gov/cbdc-faqs.htm
Of course, since right now it's not implemented, we are arguing over what might be.
I am not going to convince you.
Unless you are working on CDBC's in the Fed, you aren't going to convince me.
But we had a fun discussion about it, I think.
No I don't work for the fed, I live outside the US but do work for a central bank of one the countries you have named. I don't see what the fed are describing on that FAQ as being any better than online banking through a regular bank account to be honest.
Any future digital currency must be able to work offline, we have observed cash rising in importance in scenarios such as disasters where internet connectivity is problematic or non-existent. And anonymity is not just about privacy, but the shear number of transactions we'd have to monitor would be phenomenal. Monitoring larger transactions (say over $10k) is expected to meet anti-laundering/anti-terrorism laws - but monitoring all those little $1 stripper tips... hell no.
tbh I suspect CBDC will actually fall into the too hard basket for most central banks. The perfect solution would be some sort heavily encrypted token stored on a hardened hardware device. But quantum computing will always make even that questionable.
Title: Re: SVB
Post by: Brooke on March 18, 2023, 06:22:34 AM
I don't see what the fed are describing on that FAQ as being any better than online banking through a regular bank account to be honest.
I think so, too.
Except maybe for this angle.
With a US CBDC, paying with it would be like paying with a debit card.
But if you could accept payment from one, then it is like you having a merchant account. This would be a big deal, since it would give everyone the equivalent of a merchant account, which otherwise is a huge hassle and difficult to get in the US.
This is a hurdle for CBDC being implemented in the US, however. Since Visa and Mastercard (etc.) and associated banks get a large amount of money for being in the middle of such transactions, if they were to lose that, they would lobby hard against CBDC.
But, in the US, CBDC would supposedly be administered by private entities -- probably then banks. Maybe using your CBDC to accept payments would incur substantial fees (akin to merchant account transaction fees), in which case it would perhaps not be lobbied against.
Quote
Any future digital currency must be able to work offline, we have observed cash rising in importance in scenarios such as disasters where internet connectivity is problematic or non-existent. And anonymity is not just about privacy, but the shear number of transactions we'd have to monitor would be phenomenal. Monitoring larger transactions (say over $10k) is expected to meet anti-laundering/anti-terrorism laws - but monitoring all those little $1 stripper tips... hell no.
I don't think the US would care that much about the offline aspect. Folks are used to credit cards as the way to buy everything Any disaster big enough to take out credit card transactions has tended to take out telecoms, electricity, transportation, policing, civil order, etc., and folks aren't transacting in cash then either, as it just devolves into looting, being stuck in or on a house and needing rescue, etc.
Also, transaction load is already handled for credit cards for everything, from $1 on up. Costco, supermarkets, appliance stores, restaurants, gas stations, doctor's office, dentist, etc. -- all in-person payment is mostly credit card transaction. If strippers get paid in cash (and they probably can accept credit-card payment, too), it is probably mainly because folks don't want the transaction recorded on a bank statement for others to see later. Or for government to know you owe taxes on it.
Quote
The perfect solution would be some sort heavily encrypted token stored on a hardened hardware device. But quantum computing will always make even that questionable.
I don't think it would be popular in the US. Cards would get stolen. They would get run through the washer and dryer or stepped on and broken. I think folks would want it to work like a credit card instead. That's what they are used to. Also, the government would want to keep track of every transaction.
Also, if you can get rid of paper Federal Reserve notes, you get the ability to deploy highly negative interest rates, as there are no bills to take out to get at last a zero interest rate on them sitting under your mattress. Or you could do a stimulus that goes away if it isn't spent by a certain date. Or you could disallow use of stimulus or other cash to buy certain things. Or you can automatically doc someone's cash for alimony payments or if the government or some government-linked agency thinks you owe money. Or more Orwellian/Chinese if you aren't being a Good Citizen.
My guess is that Americans will be highly resistant to cash being outlawed or going away completely, even though they don't actually use it that much.
But then I never would have guessed that stuff happening in 2020-2022 would ever happen here.
Title: Re: SVB
Post by: Eagler on March 18, 2023, 06:43:52 AM
It will be a great thing....
You won't even have to pay your taxes...they will automatically be withdrawn at the stated date..
I see going digital in my grandkids life if not their kids...if we hold out that long
We go digital sooner if the sheet hits the fan due to civil unrest caused by the collapse of our financial system..which I also fear we are very close to at this moment from numerous factors
Praying I am way off and very wrong
Eagler
Title: Re: SVB
Post by: DmonSlyr on March 18, 2023, 12:10:59 PM
We've tried to go cashless at our facility for big events and it's going to be really tough to outlaw cash completely. Now as the person who counts the cash. I'll tell you it's dirty, time consuming, never reconciles to the system, people steal it, and has security issues for transport. For major big events, it's definitely good to go cashless. Counting 2 million in cash is costly and takes hands but now we still collect about 20k or 1% of sales in cash even though we have signs that we no longer accept cash. Now I can count it myself and we save money in more ways than one.
Now, I'm am not anti cash do to the fact that if computer systems were to crash for any reason, you wouldn't be able to accept any payments, you wouldn't be able to have any physical way to barter in a realistic way. For a facility such as ours. If they payment systems went down for whatever reason it would crush us. I've already had a situation where about 500k in sales didn't flow into Freedom Pay and we didn't get our sales until the next month. I had to recoconcile it all and it was a big pain in the arse.
Another thing too is, it's not gonna be your baby sitters and yardsalers protesting. It's going to be all of the biker gangs who don't want to be "in the system" if you will. Thats something else I've learned about the facility I work. That's who regulators are going to have to deal with, on top of most conservatives against it.
Title: Re: SVB
Post by: Vulcan on March 18, 2023, 02:52:39 PM
I don't think the US would care that much about the offline aspect. Folks are used to credit cards as the way to buy everything Any disaster big enough to take out credit card transactions has tended to take out telecoms, electricity, transportation, policing, civil order, etc., and folks aren't transacting in cash then either, as it just devolves into looting, being stuck in or on a house and needing rescue, etc.
Our recent disaster experiences are the opposite. Yes there was some looting which was quickly put under control, ironically a lot of it was theft of generators that were running as backup systems for cell sites. Because the internet was down in so many areas we had to ship out a lot of extra cash to that region.
Title: Re: SVB
Post by: CptTrips on March 18, 2023, 02:56:00 PM
Quote
Silicon Valley Bank failed after rising interest rates reduced the value of its assets and worried customers scrambled to withdraw uninsured deposits. In a new study, economists said they found 186 banks that may be prone to similar risks.
It will be interesting to see if the Fed holds the course despite risks beginning to accumulate. A large part of the market is already pricing in the Fed blinking. I think at the moment they will be painfully disappointed. At least this next meeting I expect 25bp.
Pay now or later. Regardless, the Piper must be paid.
Title: Re: SVB
Post by: Eagler on March 18, 2023, 03:10:44 PM
Heard it was an 80% chance of a .50 hike the day b4 svb took a dump..
Two days later it was only 75% for .25 with even a low percentage for a decrease
EU did .50 as should we imo
Rewarding poorly managed banks isn't the solution
Taming inflation is
Eagler
Title: Re: SVB
Post by: AKIron on March 18, 2023, 03:38:35 PM
Gift cards, prepaid anonymous debit cards, etc.... Those will be for illicit trades.
Title: Re: SVB
Post by: AKIron on March 18, 2023, 03:40:33 PM
Our recent disaster experiences are the opposite. Yes there was some looting which was quickly put under control, ironically a lot of it was theft of generators that were running as backup systems for cell sites. Because the internet was down in so many areas we had to ship out a lot of extra cash to that region.
In the US, it seems like the last things to go down and the first to come back up are cell service and Internet. Generally, if cell phones work, Internet works.
For Hurricane Katrina disaster relief, the government handed out prepaid credit cards.
A weakness of cards, though, is that you can't easy pay another regular person with one.
I could definitely see use of cash increasing in disaster areas in the US as well.
Title: Re: SVB
Post by: icepac on March 21, 2023, 05:21:22 PM
You won't be able to leave your block to spend money if they decide it.
This is an excellent point.
In the past, this would have sounded crazy. Not anymore.
Title: Re: SVB
Post by: -gg- on March 22, 2023, 01:08:04 AM
There could also be different levels or features of your money depending on your social credit score.
You know the politicians won't have any restrictions. They'll probably have god mode money.
But us. peasants? They will control it as needed.
People that dismiss this kind of thing are idiots. Every kind of power is always abused.
Title: Re: SVB
Post by: Eagler on March 22, 2023, 07:51:24 AM
After 2020 ti think this is not possible is just ignorant...not only possible but actually desired by our leaders and even some who can't control their own lives and need the gov for handouts
If they don't go at least .25 increase today we are living with these bloated prices forever...maybe even if they do..
I am wishing for a .50 myself... need to shake the bushes boss!