Perhaps if the economy goes into a complete tailspin ... but, I believe the only people saying that are the people who want to sell you silver, and really $100/ounce is quite unreasonable. More likely, I would say that there is a 30% chance we will go into a greater stress with the financial markets - in which case Silver might hit $20; but there is a 60% chance that the financial markets stabilize, and silver will be back down to $6 an ounce within a year.SealXo wrote:
im putting my savings to silver soon, they say its going to go to like 100+ an ounce its at like 12 right now
Yep, that's the scam. You take the primary producers and devise a monetary system that makes them dependent on a privileged class of people that do not contribute anything.Reciprocity wrote:
nice rant, Ted.
WaMu falling apart isn't the end of civilization.
The world we live in is dollar dependent, when that world is finished, I'm sure arable land will be very valuable. In the mean time, try paying your rent with a coffee can full of naturally irrigated land.
I think it's really sad that you go on to disparage my description of actual wealth. Do you think the corporations are powerful because they have the most dollars, or are they powerful because they have traded their monopolistic access to dollars (fractional reserve lending) for the world's resources and industry? It's very important that they eventually crash the currency, otherwise the movement of resources and ownership could go in either direction.
It's only natural that you would trust the establishment that raised you. I doubt you know enough about the world to imagine it any other way.
Rumours started the great depression. But it is totally down to you doing what you feel is best for yourself.
It's not about trust, Ted. It's about playing the fucking game.Marinejuana wrote:
Yep, that's the scam. You take the primary producers and devise a monetary system that makes them dependent on a privileged class of people that do not contribute anything.
I think it's really sad that you go on to disparage my description of actual wealth. Do you think the corporations are powerful because they have the most dollars, or are they powerful because they have traded their monopolistic access to dollars (fractional reserve lending) for the world's resources and industry? It's very important that they eventually crash the currency, otherwise the movement of resources and ownership could go in either direction.
It's only natural that you would trust the establishment that raised you. I doubt you know enough about the world to imagine it any other way.
then gg
I could take months to get your money if the bank defaults or if there is a run on the money in the bank (like that one in L.A.).
I have two business accounts with them that I will probably move. I originally went with them because they didn't charge fees for small business accounts...but I guess you get what you pay for?
I have two business accounts with them that I will probably move. I originally went with them because they didn't charge fees for small business accounts...but I guess you get what you pay for?
If the bank "defaults"? I assume you are talking about an FDIC turnover?Harmor wrote:
I could take months to get your money if the bank defaults or if there is a run on the money in the bank (like that one in L.A.).
It does not take "months" if you have less than the insured amounts, but rather just a few days. When my bank failed last year, all banking operations were suspended by the FDIC on a Friday at 5 PM ... ATM operations were back on-line by Saturday evening, and full access to funds by Sunday at about 8 PM (on-line banking, for example). The doors of the bank were open at a regular time on Monday morning, but under FDIC management.
Of course, if you had funds in excess of insured limits, then you have to wait through the process of liquidation. Another institution I was with during the S&L crisis took about 2 years to fully liquidate and pay uninsured assets ... I got back about 85-90% of uninsured funds.
So far so good... Wamu was bought to the highest bidder..(Chase) and so far nothing bad with my savings and checking. And yes I know about being "Federally Insured by the FDIC", but still... it's my money.
...
I liked WAMU's service, too bad that happened to them.
...
I guess I've been reading too much on the Great Depression where some people actually lost their life's savings from the banks, when everything crashed.
...
I liked WAMU's service, too bad that happened to them.
...
I guess I've been reading too much on the Great Depression where some people actually lost their life's savings from the banks, when everything crashed.
Last edited by GraphicArtist J (2008-09-26 11:48:48)
WEEE!! Nothing better to ENSURE nationwide economic collapse than ALL RUNNING TO THE BANK TO WITHDRAW CASH AT THE SAME TIME!!! Yeah! Have at it! Take all your cash out because it'll surely get eaten up by the Islamofascist baby killers waiting to ass-rape you!!
Ok, /rant. Honestly, every time some asshead makes a thread or post thinking they're so smart and telling people they better cash in their savings or thinking they're helping people save their money by cashing in should be arrested and raped. Seriously, it is that exact type of panic that causes recessions... But if you're without sense of history like certain leaders, you'd never know that and I apologize for the rough language, but yes, you need to stop your reckless behavior and grow up. DO NOT GO TO THE ATM or you will be DIRECTLY contributing to economic collapse of your country.
Ok, /rant. Honestly, every time some asshead makes a thread or post thinking they're so smart and telling people they better cash in their savings or thinking they're helping people save their money by cashing in should be arrested and raped. Seriously, it is that exact type of panic that causes recessions... But if you're without sense of history like certain leaders, you'd never know that and I apologize for the rough language, but yes, you need to stop your reckless behavior and grow up. DO NOT GO TO THE ATM or you will be DIRECTLY contributing to economic collapse of your country.
^^^ And of course, as usual, you'd be wrong in every way conceivable.
1.) It's 1 bank, not every Bank. You can count to one - no?
2.) "Take all your cash out because it'll surely get eaten up by the Islamofascist baby killers waiting to ass-rape you!!" I am sorry but if you're going to be sarcastic at least be in the right stadium/arena and comment on the right game. K' Sport.
3.) You need to honor your proclaimed desire "to be a better Christian." ("...should be arrested and raped", ha-ha funny, not... should I say turn the other cheek or would that be too punny).
4.) "Seriously, it is that exact type of panic that causes recessions." Actually a lot economists believe that things like the great crash of 1929; run on banks; & great depression thereafter; were nearly scientifically calculated means to transfer wealth. I am not sure where you get your odd ideas from? And, considering the blathering on here about the financial crisis - is this also were you're getting your ideas from? I'll clue you in the current situation has everything to do with home prices and how they were manipulated in a market manner to create profit. The rises were artificial and extraordinary. Deregulation didn't fully contribute in a way like many on here think it did, at best regulation would have only moved the apex of market manipulation further ahead in time. Or regulation would have made the apex a little lower? I doubt it.
5.) This country is not really in risk of collapse, nor do I believe that either the economy or the Federal Reserve (which I detest) is in risk of collapse either. This is a market correction of home prices, that dragged down banks with bad paper invested in overvalued real estate, the pricing IMO is still way overvalued and any money thrown at these financial institutions, in the manner I believe they will be, will ultimately not address the deeper issues involved here. The loss of industry, decline in labor-wages that goes along with lost industry and affordable housing where median income to average home prices is more appropriate. Any regulation on banking practices needs to be wary of future manipulation of real-estate values and the money-supplies there-tied-to that can be lost quickly (just like in the stock market).
1.) It's 1 bank, not every Bank. You can count to one - no?
2.) "Take all your cash out because it'll surely get eaten up by the Islamofascist baby killers waiting to ass-rape you!!" I am sorry but if you're going to be sarcastic at least be in the right stadium/arena and comment on the right game. K' Sport.
3.) You need to honor your proclaimed desire "to be a better Christian." ("...should be arrested and raped", ha-ha funny, not... should I say turn the other cheek or would that be too punny).
4.) "Seriously, it is that exact type of panic that causes recessions." Actually a lot economists believe that things like the great crash of 1929; run on banks; & great depression thereafter; were nearly scientifically calculated means to transfer wealth. I am not sure where you get your odd ideas from? And, considering the blathering on here about the financial crisis - is this also were you're getting your ideas from? I'll clue you in the current situation has everything to do with home prices and how they were manipulated in a market manner to create profit. The rises were artificial and extraordinary. Deregulation didn't fully contribute in a way like many on here think it did, at best regulation would have only moved the apex of market manipulation further ahead in time. Or regulation would have made the apex a little lower? I doubt it.
5.) This country is not really in risk of collapse, nor do I believe that either the economy or the Federal Reserve (which I detest) is in risk of collapse either. This is a market correction of home prices, that dragged down banks with bad paper invested in overvalued real estate, the pricing IMO is still way overvalued and any money thrown at these financial institutions, in the manner I believe they will be, will ultimately not address the deeper issues involved here. The loss of industry, decline in labor-wages that goes along with lost industry and affordable housing where median income to average home prices is more appropriate. Any regulation on banking practices needs to be wary of future manipulation of real-estate values and the money-supplies there-tied-to that can be lost quickly (just like in the stock market).
Last edited by topal63 (2008-09-26 15:28:03)
Lol Wamu Stock Today
Wholly SHIT.SealXo wrote:
Lol Wamu Stock Today
I've never in my life seen a 90% one day decrease on a major s&p stock.. 0.16 fucking cents per share?
http://www.reuters.com/finance/stocks/o … ymbol=WM.N
No matter. I bank with U.S. Bank and they are terrible.
I will open a Whoohoo account Monday.
Maybe with $13.65 mln for 18 days work the newly hired CEO can afford me and will return the favor.
I can't imagine the gall;
Almost 14 billion to drive the nails into the coffin of that company.
http://www.reuters.com/article/companyN … ymbol=WM.N
Unreal.
Topal,
You. Are. Wrong.
Completely.
You. Are. Wrong.
Completely.
But it's the peoples fault they bought houses they can't afford, they tell us.topal63 wrote:
I'll clue you in the current situation has everything to do with home prices and how they were manipulated in a market manner to create profit. The rises were artificial and extraordinary. Deregulation didn't fully contribute in a way like many on here think it did, at best regulation would have only moved the apex of market manipulation further ahead in time.
Artificial prices inflations combined with nodoc stated income loans is what caused this.
The people responsible should be jailed or worse.
Topal isn't wrong, he sees it clearly.
This is a creation of those in power to fuck us all into submission.
We are in the first days of what is unfolding.
It will not be pretty.
Oh, so if all the WAMU customers across the country withdrew (tried to) their checking and savings account cash, that wouldn't completely destroy that bank? I"m sorry, but wouldn't that action directly effect the economy of this country and contribute to more panic, inflation, bank runs?
What backwards world's history did this not play out in?
As for who's at fault, it's shared by banks and customers, probably some government deregulation too. Why is that a debate?
What backwards world's history did this not play out in?
As for who's at fault, it's shared by banks and customers, probably some government deregulation too. Why is that a debate?
Hey it (WAMU) has already been taken over by the Fed (thence sold off). And no, 1 bank wouldn't do much. Their assets are minimal in comparison to the totality of the money supply. If anything the FDIC might have some fiscal commitments that they don't have now.IRONCHEF wrote:
Oh, so if all the WAMU customers across the country withdrew (tried to) their checking and savings account cash, that wouldn't completely destroy that bank? I"m sorry, but wouldn't that action directly effect the economy of this country and contribute to more panic, inflation, bank runs?
What backwards world's history did this not play out in?
As for who's at fault, it's shared by banks and customers, probably some government deregulation too. Why is that a debate?
+
At the time of the great depression - the assholic Fed. actually contracted the money supply - it's a fact.
Last edited by topal63 (2008-09-26 16:34:40)
I don't know my stock market (infact, I don't know it at all)ATG wrote:
Wholly SHIT.SealXo wrote:
Lol Wamu Stock Today
I've never in my life seen a 90% one day decrease on a major s&p stock.. 0.16 fucking cents per share?
http://www.reuters.com/finance/stocks/o … ymbol=WM.N
But
Wouldn't it be a good time to buy stocks of it now? I mean, it has been bought out by that other bank. So surely it's stock is only going to raise now...or...I dunno...
No.Mek-Stizzle wrote:
I don't know my stock market (infact, I don't know it at all)ATG wrote:
Wholly SHIT.SealXo wrote:
Lol Wamu Stock Today
I've never in my life seen a 90% one day decrease on a major s&p stock.. 0.16 fucking cents per share?
http://www.reuters.com/finance/stocks/o … ymbol=WM.N
But
Wouldn't it be a good time to buy stocks of it now? I mean, it has been bought out by that other bank. So surely it's stock is only going to raise now...or...I dunno...
The FDIC seized the company, and then sold the banking assets (e.g. deposit accounts, loan portfolio of secured debts, and branch offices) to JP Morgan.
What's left of WaMu? Well there are still unsecured debts (like personal loans), lawsuits facing the company, and miscellaneous debts and assets. The FDIC will sell and liquidate all these assets, subtract costs, settle lawsuits, and then pass on the remainder to shareholders ... but, from what I've seen, this liquidation will not result in anything going to the shareholders.
Nope; nada.OrangeHound wrote:
...but, from what I've seen, this liquidation will not result in anything going to the shareholders.
You are correct sir, creditors always come first. Shareholders usually get nothing in these situations.
Either you could daytrade it for the next few days and possibly make like 60-80% in one day like fne before it turned to a pink sheet or youc ould lose you assMek-Stizzle wrote:
I don't know my stock market (infact, I don't know it at all)ATG wrote:
Wholly SHIT.SealXo wrote:
Lol Wamu Stock Today
I've never in my life seen a 90% one day decrease on a major s&p stock.. 0.16 fucking cents per share?
http://www.reuters.com/finance/stocks/o … ymbol=WM.N
But
Wouldn't it be a good time to buy stocks of it now? I mean, it has been bought out by that other bank. So surely it's stock is only going to raise now...or...I dunno...
My neighbor made 50k in a day two weeks ago during the FRE FNE crysis
Last edited by SealXo (2008-09-26 16:55:39)
BofA not only lends to illegals, but they too have alot of these subprime loans so I don't think your money is safe there either.CloakedStarship wrote:
I just pulled out of WaMu and went to BoA not but an hour ago.
Exactly...so all those people who invested their savings for a retirement or investment lost like 80% of their money. If you were an investor of WaMu and you knew they were lending to N.I.N.J.A's (No Income No Job Applicants), with zero-interest loans that adjusted to 2x the current payment then you deserve to loose your money.topal63 wrote:
Nope; nada.OrangeHound wrote:
...but, from what I've seen, this liquidation will not result in anything going to the shareholders.
You are correct sir, creditors always come first. Shareholders usually get nothing in these situations.
Gold is really the only things that keeps its value over time.