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In a Depression!

dlimb2dlimb2 Posts: 3,449
in Precious Metals
How many banks will survive? How far will the nearest remaining bank in business be from you? How many people will follow you if you enter and then leave a bank? How will you take care of your business in a depression if you have money?

Comments

  • OPAOPA Posts: 17,124 ✭✭✭✭✭


    << <i>How many banks will survive? How far will the nearest remaining bank in business be from you? How many people will follow you if you enter and then leave a bank? How will you take care of your business in a depression if you have money? >>



    Suggest you read a couple of books based on what happened in your quoted scenario & give us a summation.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BECOKABECOKA Posts: 16,960 ✭✭✭
    Only as many as the government bails out just like they are doing now.
  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    How will your job survive?

    That is a more important question.

  • DustyCoinboxDustyCoinbox Posts: 206
    I take Prozac for the depression, then go about my business as normal.
    Successful BST purchases from: WaterSport, commoncents123, Hyperion, mozeppa, Mar327, coinlieutenant, Placid, MFH, fishteeth, FilthyBroke, SilverEagles92, illini420, barberman55, pcgs69 (2x) & 123cents

    History of the US Constitution Coin Set
  • BobGreeneBobGreene Posts: 952 ✭
    I heard that a major bank is about to go under, but I can't figure out for sure which one it is. I'm thinking maybe Washington Mutual?

    Bob
  • dlimb2dlimb2 Posts: 3,449
    It is said that there are 1000 banks that will go under!
  • dlimb2dlimb2 Posts: 3,449
    How will you take care of your business in a depression if you have money?

    Look over on the metal detecting board and you will see what someone found from the last depression!
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "Washington Mutual"

    Certainly gasping for air but not lifeless; low volume and down 13 cents today. That was my first thought too when I read that article but if that's it, it is sure being kept quiet. Man, that Poppy Harlow is cookin'!!! WaMu
  • LALASD4LALASD4 Posts: 3,602 ✭✭✭
    Not much have changed for months, one day someone will go on TV and say the worst is over and the Financials goes up and next day someone else will go on TV and say all the banks will fail and the Financials goes down.image

    Those people must have their friends or families take a position before they go on TV.
    Coin Collector, Chicken Owner, Licensed Tax Preparer & Insurance Broker/Agent.
    San Diego, CA


    image
  • storm888storm888 Posts: 11,701 ✭✭✭
    "..Those people must have their friends or families take a position before they go on TV..."

    ///////////////////////

    Count on it.

    Both sides play the game; pump-and-dump, and short-and-bash.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Florida is in a (weather) depression.image

    As far as economically, we are still far from it. But then again it may be like being at Arches National Park in Utah and admiring the Wall Arch early this month and with no warning...crash....ruins. It's been "arching" for millions of years and in our lifetime it fails and falls.

    There's only so far a fiat economy can continue without "adjustments" and this experiment has lasted very long. We could wake up and the financial crash that was orchestrated while we were asleep by the "powers that be" would direct us to go to our bank and exchange $25 for a new $1 coin.

    Ren
  • BearBear Posts: 18,953 ✭✭✭
    The only talking heads that make any sense, are T. Boon Pickens

    and the Oracle of Omaha. The rest are a bunch of jerks.
    There once was a place called
    Camelotimage
  • curlycurly Posts: 2,880 ✭


    T. Bone Pickens is sellin' windmills. If ol' T. Bone and Nancy can pull it off they'll make a fortune.
    Every man is a self made man.
  • JoesMaNameJoesMaName Posts: 1,064 ✭✭✭


    << <i>...
    There's only so far a fiat economy can continue without "adjustments" and this experiment has lasted very long. We could wake up and the financial crash that was orchestrated while we were asleep by the "powers that be" would direct us to go to our bank and exchange $25 for a new $1 coin.

    Ren >>



    I wouldn't be suprised though I was thinking 100:1 or even 1000:1

    ...
  • RWBRWB Posts: 8,082 ✭
    Sorry to muddy the clear waters with some facts, but:

    From 1921 through 1933 there were approximately 14,807 failures (called “suspensions” by the Federal Reserve system) of banks in the United States. Depositors lost $1,901,264,000 in hard earned cash after factoring in any recovery from sale of the bank’s remaining assets. All of these occurred during the so-called “sound money” era of the post-war gold standard.

    In contrast, from 1934 through 1960 (twice the length of time) insolvent banks numbered 557, and depositor losses totaled $11,231,000 mostly due to large accounts that exceeded the limit of FDIC insurance. It is only due to the Glass-Steagall Banking Reform Act and those “evil Roosevelt administration socialists” that you can safely have savings, checking, money market and other accounts. Similar actions in the 1930s to protect investors mean you can have a brokerage, commodity, gold futures, etc. account and not worry that it will be missing tomorrow or wiped out by inside traders.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>T. Bone Pickens is sellin' windmills. If ol' T. Bone and Nancy can pull it off they'll make a fortune. >>



    What isn't known about T. Boone is that he has the Texas Public Utilities Commision in his pocket and we, the users, are going to get a fee attached to our bills to pay for T. Boone's "project".

    He gets the $$ if successful, we get the bill upfront regardless and there is no end in sight for that additonal fee. He makes billions either way.

    T. Boone is a crook in my mind.

    Just one with connections. He's got the money, but why bother when he can steal it from families already in financial distress.

    Besides, the environuts are going to block his transmission lines. Already working in court to stop him and they will win.

    We still pay the fee.

    Forget the windfarms, without transmission lines they are useless.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • Coll3ctorColl3ctor Posts: 3,339 ✭✭✭
    Don't worry............... just be happy image
  • RWBRWB Posts: 8,082 ✭
    Three simple parts of the solution:
    1) superconducting electrical transmission;
    2) efficient storage of electricity;
    3) superconducting generators.
  • JoesMaNameJoesMaName Posts: 1,064 ✭✭✭


    << <i>Three simple parts of the solution:
    1) superconducting electrical transmission;
    2) efficient storage of electricity;
    3) superconducting generators. >>



    If we just had 2 we wouldn't even need 1 or 3

    ...
  • dlimb2dlimb2 Posts: 3,449
    I think everyone needs to take care of business..Each of us should have our own mini power plant built into our homes. Solar and wind...I am just learning about it and it is quite interesting, I bought 100 solar cells to see what I can come up with...I have plans to build the solar cells into panels...I would think it would be a wonderful thing to tell the Oil Producing Countries to go to HELL! To capture the wind and sun could be a wonderful thing and not destroy the environment at the same time....
  • SaorAlbaSaorAlba Posts: 7,553 ✭✭✭✭✭


    << <i>Only as many as the government bails out just like they are doing now. >>



    Rather only as many as the government can bail out. There is not enough money to pay out every account, nor even a fraction of every account in the USA. The FDIC insurance is a mere myth if the real big one hits. Some of the Indymac depositors that had like 600K in that bank are finding out the hard way. Why any fool would keep that much money in one institution is beyond me.
    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭


    << <i>I take Prozac for the depression, then go about my business as normal. >>



    I have a job as a pharmacist, and as long as he needs prozac, I will have a job......image
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    << How far will the nearest remaining bank in business be from you? >>

    Doesn't matter. What matters is how close is the nearest ATM.

    It isn't even a recession yet and we are worried about depressions? Just you wait until oil gets over $200 next year!
    Carl's Coins website w/ links to Carl's auctions
  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    <<I think everyone needs to take care of business..Each of us should have our own mini power plant built into our homes. Solar and wind...I am just learning about it and it is quite interesting, I bought 100 solar cells to see what I can come up with...I have plans to build the solar cells into panels...I would think it would be a wonderful thing to tell the Oil Producing Countries to go to HELL! To capture the wind and sun could be a wonderful thing and not destroy the environment at the same time....>>

    Hey, I'm in agreement here!

    I went a cheaper route. I bought some copper tubing and some reflective corrugated roofing material. I am making a solar water heater. I hope to capture heat on sunny winter days and warm my office with it. image

    I've been studying energy and off grid systems since I was in college (a long time ago!). I'm thinking photovoltiacs will get cheaper. With subsidies I may actually buy a system in a few years.

    I also have a garden and am learning how to can food. I could live off spaghetti w/ tomato sauce as long as my office is warm image
    Carl's Coins website w/ links to Carl's auctions
  • jsfjsf Posts: 1,889
    'nuff said

  • dlimb2dlimb2 Posts: 3,449
    The Forest produce the oxygen that we need...The Forest have diseases which protect them from the outside world, diseases which are deadly to man...what happens when man gets to the heart of these Forest. ..man will be hit with new plague of which have never been seen! The ebola virus is just one of them...man knows not where he goes! We need to stop the use of oil as much as we can to save ourselves!
  • JcarneyJcarney Posts: 3,154 ✭


    << <i>Sorry to muddy the clear waters with some facts, but:

    From 1921 through 1933 there were approximately 14,807 failures (called “suspensions” by the Federal Reserve system) of banks in the United States. Depositors lost $1,901,264,000 in hard earned cash after factoring in any recovery from sale of the bank’s remaining assets. All of these occurred during the so-called “sound money” era of the post-war gold standard.

    In contrast, from 1934 through 1960 (twice the length of time) insolvent banks numbered 557, and depositor losses totaled $11,231,000 mostly due to large accounts that exceeded the limit of FDIC insurance. It is only due to the Glass-Steagall Banking Reform Act and those “evil Roosevelt administration socialists” that you can safely have savings, checking, money market and other accounts. Similar actions in the 1930s to protect investors mean you can have a brokerage, commodity, gold futures, etc. account and not worry that it will be missing tomorrow or wiped out by inside traders. >>



    Thanks for a bit of refreshing realism. A bit too many tinfoil hats around here.
    “When the people find that they can vote themselves money, that will herald the end of the republic.” — Benjamin Franklin


    My icon IS my coin. It is a gem 1949 FBL Franklin.
  • dlimb2dlimb2 Posts: 3,449
    There may be fewer banks but there will be more money involved that will devistate many more people than in the Great Depression...it is not the number of banks but the amount of money involved!!!
  • dlimb2dlimb2 Posts: 3,449
    Another thing about 1934 to 1960 is that was the greatest growth time in American history...we went from farming to Manufacturing...Most at this time were making money and growing, of course there would be less bankruptcies!
  • dlimb2dlimb2 Posts: 3,449
    "brokerage, commodity, gold futures, etc. account and not worry that it will be missing tomorrow or wiped out by inside traders. ">>

    This was allowed by the government to happen...it turned into the greatest Casino for a few...and robbed the hard working people of their honest money!

  • dlimb2dlimb2 Posts: 3,449
    At no time in American History will you find a more corrupt system than today...PERIOD!

    From the Big House all the way down.
  • RoadgoldRoadgold Posts: 81


    << <i>Three simple parts of the solution:
    1) superconducting electrical transmission;
    2) efficient storage of electricity;
    3) superconducting generators. >>



    If electricity is the answer to everything, I guess my job is a little more secure than most. I have spent about 1/3 of my career building powerhouses.
    Why do you have to 'put your two cents in'... but it's only a 'penny for your thoughts'? Where's that extra penny going to?
  • BearBear Posts: 18,953 ✭✭✭
    Like 1929, the world is entering a period of a perfect

    economic storm. The difference is that in 1929, the various

    Governments tightened credit and cut Federal spending , and

    raised tariff walls around the world, cutting trade, which then

    cratered the economy. This time, the Fed and Federal Government

    are pouring liquidity into the economy. What is the great danger today

    is the enormous debt we have, that did not exist in 1929 and as yet, no

    tariff walls have been raised worldwide.
    There once was a place called
    Camelotimage
  • 500Bay500Bay Posts: 1,106 ✭✭✭
    If you are fortunate enough to have more than $100,000 in cash, spread it out in different banks.
    If you own stock in banks, then be worried.
    Finem Respice
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,363 ✭✭✭✭✭


    << <i>

    << <i>I take Prozac for the depression, then go about my business as normal. >>



    I have a job as a pharmacist, and as long as he needs prozac, I will have a job......image >>



    No medication was necessary for the laugh you gave me in this post. image
  • dlimb2dlimb2 Posts: 3,449
    Bear, there could be a difference of being on the gold standard verses the $$$t What would the differences be if any?
  • WalmannWalmann Posts: 2,806 ✭
    If all the banks fold, will this mean social security is saved? If the feds can't issue those monthly SS payment via electronic deposit to anyone as there is no bank to receive the payment, it may mean the Social Security crisis is avoided.
  • BlackBeardBlackBeard Posts: 1,064 ✭


    << <i>T. Bone Pickens is sellin' windmills. If ol' T. Bone and Nancy can pull it off they'll make a fortune. >>



    You may mean he'll make ANOTHER fortune. He already has 4 billion.image
    Witty sig line currently under construction. Thank you for your patience.
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