Good reminder to keep some cash on hand at all times.
When the banks close, ATM’s no longer operate, and credit cards are useless - cash will still be good for a certain amount of time.
"If you see incorrect balances or missing transactions, this may be due to a technical issue and we apologize," Wells Fargo posted on TwitterFriday in response to a user who wrote "GIVE ME MY MONEY BACK."
2 local banks I have accounts in just got bought up by larger ones. Moved 30k to a money market account with Schwab, and may look for another small bank to move my other accounts to.
Global lending firm Silicon Valley Bank, which has mainly served tech companies and venture capital firms, collapsed last week after 40 years in business, and now some are blaming the company's recent "woke" business practices for its demise.On Friday, the California Department of Financial...
www.theblaze.com
“While some have blamed the collapse on volatile bond markets and rising interest rates, others — including Home Depot co-founder Bernie Marcus — have claimed that the company became too focused on "woke" issues, like LGBTQ+ activism and environmental alarmism, rather than their shareholders.”
The people who are saying the system needs to be burned down aren't going to like what replaces it. This will probably be like 08 all over again where a lot of smaller banks get bought up by bigger banks. And that's probably the best case. Worst case is the gov just takes over everything.
Analysts warn that America is about to get hit by a financial crisis worse than the one in 2008.
First Republic Bank is on his way to collapse.
Biden will on Monday address a banking crisis that led U.S. regulators to step in with a series of emergency measures after the collapses of Silicon Valley Bank and Signature Bank threatened to trigger a broader systemic crisis.
(Reuters)
Under this new digital currency, any transfer of funds to family, friends, charities, or clients would be able to be tracked by the nation's central bank that issued this virtual money. Big Brother will be in your wallet every hour or every day. You will
www.gatestoneinstitute.org
Is this where the Leftists are pushing the country?
It's tough to believe that Credit Suisse is in trouble. Figured all the buried gold they held was enough to weather any issues they may have. Crazy times for sure.
COLLINS: It is a remarkable statement to hear you say that you believe the U.S. banking system has been nationalized because of this.
ALTMAN: Well, no. I didn't say it has been nationalized. I said they are verging on that because they have guaranteed the entire deposit base. Usually, the term "nationalization" means that the government takes over the institution and runs it and the government owns it. That would be the type of nationalization we have seen in many other countries around the world. Obviously, that did not happen here. When you guarantee the entire deposit base, you have put the federal government and the taxpayer in a much different place in terms of protection than we were in a week ago.
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