patrick.net

ad says

I disagree as I watch Youtube for finance and news.

It's what you think is finance and news.

People are not allowed to point out bullshit on youtube. You might as well have told me you watch MSNBC for finance and news.

ad says

So Alphabet (aka: Google) has not yet started to suffocate Youtube via Woke.

Rumble, Bitchute, Gab, Odysee, Daily Mtion, D-live, and many others exist because Youtube has become pointless to large swaths of people. Youtube is useful for finding out what propaganda is being promoted and what the Overton Window currently is and that's it. There's no real news there.

WookieMan says

As a CA centric forum, you do realize that CA is a shit stain on the entire country, right?

Yes I do.

California would have been fucked if Trump was allowed to assume office. We're fucked anyhow. Federal government feeds us shitloads of bullshit money to keep operating. I wish the rest of the nation would cut us off.

The only way this state will correct, is if the free money ends. I'm in FULL support of that.

WookieMan says

CA and specifically NYC (not NYS) are the ones bankrupting the country, with a slight dash of DC on top. These urban shit holes are draining this country. They produce NOTHING. All they do is produce high taxes and morons that they then elect into power with larger national representation

We cannot verify the balloting system, and that is by design.

Camera are SO FUCKING CHEAP now, it's TRIVIAL to count the number of people entering a polling place. That gives an accurate count of the ballots BEFORE they are counted. It's EASY to have receipts for your vote. We no longer have exit polls.

I am going to be as direct as possible with this statement. We do not have a legitimate voting process. YOUR vote might count, if it was in a "place that doesn't matter", but we don't have a fucking vote.

Eric Holder says

All economies are run by central banks. There's nowhere to run.

I keep saying this, you seem to keep ignoring it. See Libya under Gaddafi. See Iran before the US intervention(multiple instances). See the United states at multiple points in our history(especially early 1800's, our most prosperous period). Tanzania...

NuttBoxer says

Eric Holder says

All economies are run by central banks. There's nowhere to run.

I keep saying this, you seem to keep ignoring it. See Libya under Gaddafi. See Iran before the US intervention(multiple instances). See the United states at multiple points in our history(especially early 1800's, our most prosperous period). Tanzania...

Their supposed merits aside, you aren't seriosly proposing to run to Lybia under Gaddafi or Iran some 60 years ago, are you? Or US in the early 1800s? How? There is no time machine.

Is Tanzania a current example of a shining city on the hill? I must admit I'm not familiar with anything related to Tanzania at all. I'll need to look into it.

UPD. Scratch Tanzania from the list of economies not run by a central bank, because:

The Bank of Tanzania is the central bank of Tanzania and is primarily responsible for maintaining price stability, with a subsidiary responsibility for issuing the banknotes and coins of the Tanzanian shilling.

richwicks says

Camera are SO FUCKING CHEAP now, it's TRIVIAL to count the number of people entering a polling place. That gives an accurate count of the ballots BEFORE they are counted. It's EASY to have receipts for your vote. We no longer have exit polls.

That's why they pushed Motor (mail) Voting.

"Oops we found another box in Philly, and two in Pittsburgh!"

AmericanKulak says

richwicks says

Camera are SO FUCKING CHEAP now, it's TRIVIAL to count the number of people entering a polling place. That gives an accurate count of the ballots BEFORE they are counted. It's EASY to have receipts for your vote. We no longer have exit polls.

That's why they pushed Motor (mail) Voting.

"Oops we found another box in Philly, and two in Pittsburgh!"

I'm fully aware.

I actually talked to a friend after Trump "lost" the election (he believes Trump legitimately lost it), and I pointed out how trivial it is verify an election, and he actually said to me "well, why don't you make something to fix it", and I had to point out people who weren't elected wouldn't want to adopt a system that would prove that.

This guy isn't stupid, but sometimes, he says some of the dumbest things to me.

He has the idea that if something doesn't exist, it's just a technical problem, he never sees any possibility of corruption. He's slightly older than me, but he's FAR more naive than I ever was. His wife had two shots of the vaccine, got "covid", and then ran out to get a 3rd shot because "she doesn't want to get covid again!"

I just don't bother any more. I never learned to realize that technical knowledge and genius is ENTIRELY disconnected from working intelligence until about 2 years ago. I'm over it now, but it took a LONG TIME for me to accept "wow, all these smart people are fucking stupid".

richwicks says

People are not allowed to point out bullshit on youtube. You might as well have told me you watch MSNBC for finance and news.

You obviously do not know Burnie Thompson of the Burnie Thompson Show. Burnie is as pro individual liberty and anti authoritarian as you are sour and cynical. You should watch Burnie on Youtube.

And you obviously have not followed Max Keiser rants against fiat currency and the globalists like Davos cult.

Roll Tide Roll.

.

ad says

You obviously do not know Burnie Thompson of the Burnie Thompson Show. Burnie is as pro individual liberty and anti authoritarian as you are sour and cynical.

I may be sour and cynical, but that's from experience.

ad says

And you obviously have not followed Max Keiser rants against fiat currency and the globalists like Davos cult.

I'm not impressed with him.

https://rudy.substack.com/p/the-name-of-the-game-is-bailout

https://www.pressherald.com/2010/04/25/to-restore-real-capitalism-put-the-fear-of-god-back-in-wall-street_2010-04-25/

To restore real capitalism, put the fear of God back in Wall Street

The trouble with Wall Street isn’t that too many bankers get rich in the booms. The trouble is that too few get poor — really, suitably poor — in the busts. To the titans of finance goes the upside. To we the people, nowadays, goes the downside. How much better it would be if the bankers took the losses just as they do the profits.

Happily, there’s a ready-made and time-tested solution. Let the senior financiers keep their salaries and bonuses, and let them do with their banks what they will. If, however, their bank fails, let the bankers themselves fail. Let the value of their houses, cars, yachts, paintings, etc., be assigned to the firms’ creditors.

Of course, there are only so many mansions, Bugattis and Matisses to go around. And many, many such treasures would be needed to make the taxpayers whole for the serial failures of 2007-09. Then again, under my proposed reform not more than a few high-end sheriff’s auctions would probably ever be held. The plausible threat of personal bankruptcy would suffice to focus the minds of American financiers on safety and soundness as they have not been focused for years.

“The fear of God,” replied George Gilbert Williams, president of Chemical Bank of New York around the turn of the 20th century, when asked the secret to his success. “Old Bullion,” they called Chemical for its ability to pay out gold to its depositors even at the height of a financial panic. Safety was Chemical’s stock in trade. Nowadays, safety is nobody’s franchise except Washington’s. Gradually and by degree, starting in the 1930s — and then, in a great rush, in 2008 — the government has nationalized it.

No surprise, then, the perversity of Wall Street’s incentives. For rolling the dice, the payoff is potentially immense. For failure, the personal cost, while regrettable, is manageable.

Senior executives of Lehman Brothers, Citi, AIG and Merrill Lynch, among other stricken institutions, did indeed lose their savings. What they did not necessarily lose is the rest of their net worth.

In Brazil, which learned a thing or two about frenzied finance during its many bouts with hyperinflation, bank directors, senior bank officers and controlling bank stockholders know that they are personally responsible for the solvency of the institutions with which they are associated.

Let them fail, and their net worths are frozen for the duration of often-lengthy court proceedings. If worse comes to worse, the responsible and accountable parties can lose their all.

The substitution of collective responsibility for individual responsibility is the fatal story line of modern American finance. Bank shareholders used to bear the cost of failure, even as they enjoyed the fruits of success.

If a bank in which shareholders invested went broke, a court-appointed receiver dunned them for money with which to compensate depositors and other creditors. That system was in place for 75 years, until the Federal Deposit Insurance Corp. pushed it aside in the 1930s.

- Jim Grant, Legendary Financial Historian, and my 2024 Presidential Candidate

https://rudy.substack.com/p/its-not-a-bailout-its-a-backstop

Patrick says

That's because she was hoping the Globalists would have succeeded in killing us off before it happened. Curses!

People about to lose their jobs:

https://twitter.com/pdubdev/status/1634726928040214530?ref_src=patrick.net



Really compelling explanation of this mess:

https://boriquagato.substack.com/p/the-glorification-of-sub-mediocrity

I am so going to do the Yub Nub song on banker heads at the end of Return of the Trump movie.

Patrick says

Happily, there’s a ready-made and time-tested solution. Let the senior financiers keep their salaries and bonuses, and let them do with their banks what they will. If, however, their bank fails, let the bankers themselves fail. Let the value of their houses, cars, yachts, paintings, etc., be assigned to the firms’ creditors.

Haha, they are the government. Nancy Pelosi is a 1/4 billionaire. Who do you think she works for? Do you think she'd be getting all these sweet insider trading deals if she didn't work directly for Wall Street?

Patrick says

People about to lose their jobs:

https://twitter.com/pdubdev/status/1634726928040214530?ref_src=patrick.net

I'd bet a testicle there's not a single white heterosexual male that works as a diversity and inclusion officer anywhere in the world.

richwicks says

I'd bet a testicle there's not a single white heterosexual male that works as a diversity and inclusion officer anywhere in the world.

There is no one competent to do anything useful who works as a DIE officer:

https://boriquagato.substack.com/p/the-glorification-of-sub-mediocrity/

The whole thing exists solely to protect and promote incompetence, because incompetent people are fearful that their incompetence will be exposed.

This explains so much about America lately. We literally have a government staffed by people selected for their extreme incompetence, so as not to threaten the jobs of the merely incompetent people above them.

Eric Holder says

Their supposed merits aside, you aren't seriosly proposing to run to Lybia under Gaddafi or Iran some 60 years ago, are you? Or US in the early 1800s? How? There is no time machine.

Gotcha. Just saying it has happened, during our lifetime, and will happen again. Could certainly be going on now, I'm not familiar with every countries/islands finances. Iran's central bank is not part of the Rothschild system, which is why they face so much constant pressure from other countries, mostly the US. Tanzania was on the road to financial prosperity under Magufuli, very similar to Libya, but he made fun of Covid and wound up dead.

https://nypost.com/2023/03/14/obama-aide-hillary-donors-improv-actor-meet-svbs-board/

The group’s lack of banking expertise is likely to be a focus for investigators. Just one current member — King — has had a career at the top of the investment banking world.

What is clear is that the bank, and much of the board, burnished their Democratic credentials as part of their strategy.

Short term (3 month) TBill rates pretty much the same as they were last week.

Yeah it's a scandal but it was clear they would bail out the lefties. They will bail out pretty much anyone who threatens to bring the system down. And the insurance system works, so you have to balance your money in different accounts and types across different banks and never bank with woke, inc. It's far from a perfect system, but it works. And insured depositors should always get their money back, that's what insurance is for. The market had 2 beautifully green days. Went quite deep in Friday and bought with some 3% apr super-checks/cash advance and some savings. Who knows how long the banks will keep sending you 3% balance transfers / cash advances? Gotta take em while they're offering it. Time to transfer some money back.I think they should not have bailed out the uninsured depositors, incl. anything over 250K, but to think they won't go for bailout is naive. Now there may be more banks in stress and the roller coaster / volatile market will continue, so there are probably plenty of short or selling opportunities, but you don't short one the Fed signals a bailout. They have the printer, you don't. Go long then.

NuttBoxer says

Eric Holder says

Their supposed merits aside, you aren't seriosly proposing to run to Lybia under Gaddafi or Iran some 60 years ago, are you? Or US in the early 1800s? How? There is no time machine.

Gotcha. Just saying it has happened, during our lifetime, and will happen again.

I'm not really sure I'd like to live in Gaddafi's Lybia, tbh, central bank or not.

NuttBoxer says

Could certainly be going on now, I'm not familiar with every countries/islands finances. Iran's central bank is not part of the Rothschild system, which is why they face so much constant pressure from other countries, mostly the US. Tanzania was on the road to financial prosperity under Magufuli, very similar to Libya, but he made fun of Covid and wound up dead.

But they did have a central bank even under that M dude.

If you thought SVB was bad ... The Fed is sitting on unrealized losses of ~$1.2 trillion on their $8.3 trillion bond portfolio.

And the Fed is losing money every day by paying $$$ to commercial banks via reverse repos.

The Federal Reserve is technically bankrupt.

In 2023 the Fed will post its first annual operating loss of $80 billion since 1915. It will have a negative capital of $38B.

This loss does not count the $1.3 trillion unrealized loss on its portfolio.

I think he will try to save the US dollar because if inflation turns hyper the US will lose global reserve currency status.
How will America fund its deficits if nobody else wants to but the debt?
What does America produce that the rest of the world wants?

charlie303 says

The Federal Reserve is technically bankrupt.

In 2023 the Fed will post its first annual operating loss of $80 billion since 1915. It will have a negative capital of $38B.

This loss does not count the $1.3 trillion unrealized loss on its portfolio.

There are many domestic and foreign buyers of US debt whose best interest is to get paid, even in devalued fiat. They will simply print the money they need and since all countries engage in the same crap, debt is relative, and there will be eventual mutual debt forgiveness. The real problem is when you don't have enough doers/makers anymore (worldwide), and goods become so expensive as nobody is making them anymore, then you see hyperinflation. But we're far far away from it. Also technological advances that make producing easier counteract this a bit. So the only effect you see is the continued devaluation of the dollar and the lower and middle class, aka those without substantial assets, getting screwed/losing buying power. There will be no dramatic crash as long as the US has no problems auctioning off its debt/notes, and keep in mind this is relative to other countries, the US is probably still one of the best debtors. Look at the EU, they were hardly able to raise their rates from zero, hence the weak EUR, which is finally gaining against the dollar again.

Putting things in perspective on bank failures. Then and now. Now is missing Silvergate Bank in the picture.

Question is, who is behind these demolitions, the black hats trying to false flag us into demonic Globalist CBDC, or white hats imploding the demons for some reason. Yellen lies even less well than BidenActorFuck, all gaslighting and bullshit. Another evil crockmeister.

Eric Holder says

I'm not really sure I'd like to live in Gaddafi's Lybia, tbh, central bank or not.

With the target he put on his back for the US, plus what MIC was already doing the region, yeah. But that wasn't Gadafi or Libya.

@EricHolder Got me curious, here are a few lists:

"https://commons.wikimedia.org/wiki/File:Countries_without_Rothschild_Bank.png"
"https://commons.wikimedia.org/wiki/File_talk:Countries_without_Rothschild_Bank.png"
https://www.thehealthyjournal.com/frequently-asked-questions/which-countries-do-not-use-a-central-bank

As specifically mentioned, the first link is not looking for the absence of a central bank, merely for one not under Rothschild/old European family influence. And when you look at the other list, Marshall Island are I believe under US control due to our military, so I'd imagine their economy is heavily influenced by ours. And how many people can afford to live in Monaco? It's a haven for those who run these banks. Finding a truly un-polluted economy is not easy now days.

Eric Holder says

I'm not really sure I'd like to live in Gaddafi's Lybia, tbh, central bank or not.

You would rather live in Qaddafi's Libya than today's Libya which the US created. Qaddafi was no angel, but in comparison to what the US installs as dictators, he was a benevolent dictator.

Eman says

Putting things in perspective on bank failures. Then and now. Now is missing Silvergate Bank in the picture.

Adjust for inflation since then. Comparing 2006 to 2023 is vastly different. It looks big now, but it's really not. Also the banks closing had their hands in the crypto game which lost 78% of value since its peak around December. A lot of people and businesses lost their asses in that realm. It wasn't a bank run, they had to pay bills and the funny money in crypto was gone. So they took their deposits out to keep businesses afloat.

Factor in FTX which was all in the same realm of investment and you have a shit storm. We have the tech bust in 2001, housing bust in 2007 (ish) and this will go down as the crypto bust. Unfortunately it's dragging tech into it, but that was their own doing.

Also I think media is another branch in this shit tree. The money isn't going to your typical players. Tech has allowed anyone to generate ad revenue. CNN is literally close to going out of business. What once seemed like a powerhouse of news is bleeding out as it likely crawls to its grave. Same goes for other networks. No one watches TV actively anymore. The ads are worthless.

WookieMan says

Eman says

Putting things in perspective on bank failures. Then and now. Now is missing Silvergate Bank in the picture.

Adjust for inflation since then. Comparing 2006 to 2023 is vastly different. It looks big now, but it's really not. Also the banks closing had their hands in the crypto game which lost 78% of value since its peak around December. A lot of people and businesses lost their asses in that realm. It wasn't a bank run, they had to pay bills and the funny money in crypto was gone. So they took their deposits out to keep businesses afloat.

Factor in FTX which was all in the same realm of investment and you have a shit storm. We have the tech bust in 2001, housing bust in 2007 (ish) and this will go down as the crypto bust. Unfortunately it's dragging tech into ...

I see where we don’t see eye to eye. We’ve had only 3 bank failures…..so far…..compared to all the bank failures during the GFC. Will we have more bank failures? I hope NOT! I hope J Powell and Yellen put an end to the bank runs with their joined statement on Sunday. 🙏