Hmm
Do you know about SIBs (Systemically Important Banks)? There are a few banks that are few banks identified by the government as "too big to fail" and will be bailed out for sure. People in small and large regional banks are piling into those and if they lose too many depositors, those regional will be in trouble if they are are not set up with treasuries maturing at the right time (ala SVB).
Of course if things get so bad the government can't bail them out you lose. But I think if things get that bad, most everyone will be losing. I'm thinking of diversifying into one of those to cover more contingencies.
There are some rather uncanny similarities between the 1929 stockmarket crash astrological chart and this upcoming lunar eclipse in Scorpio. Kinda makes you go hmmmm.
Jim Cramer says the banks are fine, so you know...
right. I don't know what the safest thing to do is. If I were I younger, I would be investing in tangible assets and my education in hands on material oriented skills and tools.
@jana safety is an illusion at this point, just like laws and other Saturn-ruled things.
I
Yup, I guess this is where the faith part of Saturn Pisces comes in lol. I have this strong re-occurring metaphorical image of dials spinning as my hands turn the knobs and understanding they are no long hooked up in sinks in.
@jana we're all the little brother...
When all these banks fail and the stock market is all cool, something ain't right in the milk!
@elsa omg…
yes…this reminds me of my first Saturn return. Or getting cancer. Or being in an earthquake.
This is the next bank going down..
PacWest Bancorp
I think.
"...The FDIC, the supposed savior of the system, is a dead man walking- the Deposit Insurance Fund (DIF) balance was $128.2 billion on December 31, 2022, up $2.8 billion from the end of the third quarter. The reserve ratio increased by one basis point to 1.27 percent as insured deposits increased 1.4 percent.
This fund exists to back up $19 TRILLION of deposit liabilities throughout the American financial system..."
This is Peruvian Bull
IKR! They are talking about increasing the coverage. This comes out of the participating bank insurance payments. So if they can't cover with what they are getting, what are the chances they can increase it enough to cover current needs and whatever extra they figure in?