Is Silver next?

[Mij]

When “every single msm outfit” tells me multiple times in a single story that “my money is safe in the bank” I get really worried. Talked about this last night with my wife. She isn’t really where I am (in thoughts) ……yet.

 

[spencer rifle]

Time for a "run" to the bank...

 

[Mij]

Time for a "run" to the bank...

Man, if I could convince my wife I would, then turn it into gold. She just isn’t ready yet, hope she doesn’t wait till it’s to late.

 

[blain]

Man, if I could convince my wife I would, then turn it into gold. She just isn’t ready yet, hope she doesn’t wait till it’s to late.

Pitch: If we buy gold and the banking system holds up fine, we can sell the gold and move back into cash.
Pitch 2: If I'm right and we don't move some cash to PM's, our wealth will take a hard hit. And I'll have that "I told you so" for the rest of our marriage.

 

[nonobaddog]

Time for a "run" to the bank...

If you have more than $250K in any one bank it is probably time to move the excess to another bank so it is covered. Other than that I don't think it is time to start a "run" on the banks.
Even SVB people can get their money out if they want. The sky is not falling.

 

[Mij]

If you have more than $250K in any one bank it is probably time to move the excess to another bank so it is covered. Other than that I don't think it is time to start a "run" on the banks.
Even SVB people can get their money out if they want. The sky is not falling.

Per account, not per bank.

 

[Nugget]

Per account, not per bank.

Technically it's per insured bank, per depositor, for each account ownership category (individual, joint, IRA, Trust, etc).

So, if you and the Mrs each have $250k in separate individual accounts at the same bank, you'd both be covered. Or if you have $250k in an individual account, a joint account, and an IRA, it'd all be covered. But if you have $250k each in 4 different joint accounts at the same bank, only the first $250k is covered.

 

[spencer rifle]

For the amount the bank is paying in interest, you might as well keep it in the mattress. And soon it may only be worth mattress stuffing.
Silver has an additional use for the uncertain future that gold does not have - it is oligodynamic (kills bacteria).

 

[nonobaddog]

I suppose I better buy metals fast before you guys crash the banking system.

 

[Ark]

Even SVB people can get their money out if they want. The sky is not falling.

For now. FDIC doesn't have the money to cover even a fraction of the banking system's collective unrealized losses from underwater bonds. If a large enough bank run and flight to safety happens, Daddy Gov won't be able to plug the holes in the damn and keep announcing business as usual.

 

[BigRed]

For now. FDIC doesn't have the money to cover even a fraction of the banking system's collective unrealized losses from underwater bonds. If a large enough bank run and flight to safety happens, Daddy Gov won't be able to plug the holes in the damn and keep announcing business as usual.

What are you talking about? There's all kind of money to plug holes with!

 

[Mij]

Technically.

if you and the Mrs each have $250k in separate individual accounts at the same bank, you'd both be covered.

Thanks for crossing my technical t’s and dotting my technical i’s.

 

[nonobaddog]

Since it is just me - I go to separate banks to keep it simple - plus I get more toasters.

 

[Ingomike]

When “every single msm outfit” tells me multiple times in a single story that “my money is safe in the bank” I get really worried. Talked about this last night with my wife. She isn’t really where I am (in thoughts) ……yet.

When a senator asks how to stop discussions like this on social media it adds to those worries…

 

[dieselrealtor]

Silver premium went up on these, they were $3.29, now $5.99

https://monumentmetals.com/bag-of-90-silver-coins-100-face.html

 

[Mij]

When a senator asks how to stop discussions like this on social media it adds to those worries…

Haven’t heard that yet, but I’m not big on listening to some mouth piece for big business. I despise those traitorous SOB’s.

 

[Mij]

Since it is just me - I go to separate banks to keep it simple - plus I get more toasters.

Been a while since they did that isn’t it?

 

[nonobaddog]

Been a while since they did that isn’t it?

Yup, but I remember banks doing stuff like that for opening a $5 account. (like 50 years ago)

 

[Mij]

Yup, but I remember banks doing stuff like that for opening a $5 account. (like 50 years ago)

If I remember correctly I got a clock. Paper route money, bout 1960 or there about.

 

[Nugget]

Since it is just me - I go to separate banks to keep it simple - plus I get more toasters.

$250k limit at one bank, but you keep $1k at 250 different banks?