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re: The next front in the War on You: Banks
Posted on 3/19/21 at 10:30 am to theunknownknight
Posted on 3/19/21 at 10:30 am to theunknownknight
quote:
This is capitalistic communism
Nope, it’s oligarchic fascism.
2
Posted on 3/19/21 at 10:34 am to OMLandshark
quote:
How the frick are banks a dying industry?
Go study decentralized finance
Posted on 3/19/21 at 10:36 am to theunknownknight
quote:
Banks - controlled
Major telecommunications- controlled
Server systems - controlled
National logistics - controlled
Controlled by who? We should look at CEOs and board members to see if there are any coincidences in who is in control.
Posted on 3/19/21 at 10:38 am to OMLandshark
quote:
Nope, it’s oligarchic fascism.
Wrong. It is an oligarchy. But fascism is nationalistic. Communism is the international element and this is definitely in favor of the global, multinational corporations.
Posted on 3/19/21 at 10:59 am to DesScorp
What Happens To The SLR Next: Here Are The Five Scenarios
quote:
Two weeks ago, just before Fed Chair Powell's final public appearance before tomorrow's FOMC meeting we addressed the $6.4 trillion elephant in the room:
the status of Supplemental Liquidity Ratio, or SLR, and specifically whether or not banks would be granted relief in the form of an extension on this critical leverage ratio when it expires on March 31, one year after the SLR ratio was eliminated to give banks the needed capacity to expand their balance sheets at the peak of the covid crisis so they can soak up the trillions in reserves and excess deposits that the Fed was set to unleash. Unfortunately, even though we explained "Why The SLR Is All That Matters For Markets Right Now", Powell failed to address this critical topic, with markets assuming that the Fed chair was simply punting it to Wednesday's Fed meeting.
https://www.zerohedge.com/markets/what-happens-slr-next-here-are-five-scenarios
quote:
Two weeks ago, just before Fed Chair Powell's final public appearance before tomorrow's FOMC meeting we addressed the $6.4 trillion elephant in the room:
the status of Supplemental Liquidity Ratio, or SLR, and specifically whether or not banks would be granted relief in the form of an extension on this critical leverage ratio when it expires on March 31, one year after the SLR ratio was eliminated to give banks the needed capacity to expand their balance sheets at the peak of the covid crisis so they can soak up the trillions in reserves and excess deposits that the Fed was set to unleash. Unfortunately, even though we explained "Why The SLR Is All That Matters For Markets Right Now", Powell failed to address this critical topic, with markets assuming that the Fed chair was simply punting it to Wednesday's Fed meeting.
https://www.zerohedge.com/markets/what-happens-slr-next-here-are-five-scenarios
Posted on 3/19/21 at 11:26 am to DesScorp
Aren't banks required to have a charter from the state that they operate in ?
Posted on 3/19/21 at 11:35 am to DesScorp
quote:
We really need a completely parallel economy, or we'll be at the mercy of these bastards.
Posted on 3/19/21 at 11:38 am to Lima Whiskey
quote:
Money will always be #1 for banks. It’s their foundation.
Sure - but which relationship is more valuable, the one they have with Washington DC, or you?
Anyone who doesn't understand this statement in the current climate is setting themselves up for generational disaster.
Posted on 3/19/21 at 11:50 am to zatetic
quote:
Wrong. It is an oligarchy. But fascism is nationalistic. Communism is the international element and this is definitely in favor of the global, multinational corporations.
Fascism is when big business has a degree of latitude in the economic arena but its first duty is to serve the interests of the state.
Posted on 3/19/21 at 12:50 pm to Johnpettigrew
quote:
This simplistic idea of just start you own in a heavy regulated industry is not like opening your own bakery.
Because the existence of over 4,500 banking companies in the US is evidence of how tough it is to start a bank.
That said, in those 4,500+ existing banks, I'll bet at least a few will recognize an opportunity to fill voids created by social justice banking.
Posted on 3/22/21 at 7:07 pm to David_DJS
quote:
Because the existence of over 4,500 banking companies in the US is evidence of how tough it is to start a bank.
Now do that with credit card companies and online payment systems. Great you have money in a bank and now you get to pay cash and write checks.
Posted on 3/22/21 at 7:18 pm to OMLandshark
quote:Cryptocurrency allows you to be your own bank.
How the frick are banks a dying industry?
Posted on 3/22/21 at 7:20 pm to DesScorp
If you use one of the large national banks, you are nuts.
Posted on 3/22/21 at 7:20 pm to OMLandshark
quote:
it’s oligarchic fascism.
Nah, more commie than fash.
Posted on 3/22/21 at 7:53 pm to SantaFe
quote:
Aren't banks required to have a charter from the state that they operate in ?
Not national banks.
Posted on 3/22/21 at 10:22 pm to Tantal
quote:
I'm about to switch over to my small local credit union.
I went with the credit union associated with my alma mater, ND. (go Irish)
Every school is associated with a credit union. Mine is Norte Dame Federal Credit Union. If you're with Texas A&M, it would be Aggieland Credit Union.
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