YOUR GOING TO GET YOUR MONEY FROM THE FDIC WHEN YOUR BANK FAILS
Read the FDIC charter.... nothing about being paid back immediatley.
>it's beyond over
IMAGINE THINKING
Falling into your wing while paragliding is called 'gift wrapping' and turns you into a dirt torpedo pic.twitter.com/oQFKsVISkI
— Mental Videos (@MentalVids) March 15, 2023
Just went and withdrew 20k from my bank today. The guy behind the counter was sweating.
He asked me what it was for, I told him “lottery tickets” kek
>Just went and withdrew 20k from my bank today
No bank has that kind of cash on hand. But cool story bro
The teller at my bank had $5k in her drawer for me when I came in today
every major bank has that and more you homosexual poorfag
Get 12k. All the time. Random days and times. Never had a single problem
I'm gonna say lawyers guns and money.
SILVER CHADS WE UP
We're eating good
imagine digging through your shit to recover the silver
>Keeping your wealth in a bank
>Keeping your crypto on an exchange.
Real smooth brain move there lads
Relax. Insured amounts will be accessible Monday. Its all just electronic Anyway. No one gonna lose it, just lose access to uninsured amounts while in receivership.
oy vey!
90% of the deposits are above the $250k limit. A taxpayer bailout is the only way these fuckers aren't going to lose some money. Fuck em.
Cyprus 2.0 - they are no guns
On 25 March 2013, a €10 billion international bailout by the Eurogroup, European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) was announced, in return for Cyprus agreeing to close the country's second-largest bank, the Cyprus Popular Bank (also known as Laiki Bank), imposing a one-time bank deposit levy on all uninsured deposits there, and seizing possibly around 48% of uninsured deposits in the Bank of Cyprus (the island's largest commercial bank). A minority proportion of it was held by citizens of other countries (many of whom from Russia), who preferred Cypriot banks because of their higher interest on bank account deposits, relatively low corporate tax, and easier access to the rest of the European banking sector. This resulted in numerous insinuations by US and European media, which presented Cyprus as a "tax haven" and suggested that the prospective bailout loans were meant for saving the accounts of Russian depositors. No insured deposit of €100,000 or less would be affected, though 47.5% of all bank deposits above €100,000 were seized.
Nearly one-third of Rossiya Bank's cash ($1 billion) was frozen in Cypriot accounts during this crisis.
So the money just disappears? Ok, sure thing.
Quote literally yes. Their deposits funded loans to pre-ipo companies. What’s the value of a company with negative cash flow and predicated on achieving future success to be worth anything.
If the bank lent me $100k for an idea and some code, but it turns out it’s a bust, and that $100k was only sent to me because the bank had $100k in deposits, you can quite literally lose your deposits. Now change $100k for $10 million.
Everyone in that receivership with deposits over $250k is now being reimbursed based on what the bank is worth. How do you vary hundreds of startups built on an idea, not hard numbers and profitability?
*How do you value hundreds of startups built on an idea, not hard numbers and profitability?
Ah so that why you have no civilised healthcare...
https://www.fdic.gov/consumers/consumer/news/cnfall14/misconceptions.html
MISCONCEPTION 5: The FDIC can take up to 99 years to pay insured deposits when a bank fails.
The Facts: The FDIC occasionally receives calls from depositors about this myth; it often comes from consumers who attended a financial seminar and heard that the FDIC can and will take up to 99 years to pay the depositor’s insured deposits after a bank is closed. This claim is false and entirely without merit.
The truth is that federal law requires the FDIC to pay deposit insurance "as soon as possible." For insured deposits — those within the deposit insurance limits — the FDIC almost always pays insured depositors within a few business days of a closing, usually the next business day. Payment is made either by providing each depositor a new account at another insured institution or by issuing a check to each depositor.
The limited exceptions that may take longer to process primarily are deposits that both exceed $250,000 and are linked to trust documents, and accounts established by a third-party broker on behalf of other individuals. "The delay, if any, for a depositor to receive payment for insured funds is a function of the time it takes for the depositor or their broker to provide missing supplemental information that is needed for the FDIC to complete the insurance determination," Troup explained. "This is supplemental information that is not in the bank's records, and it may include affidavits from depositors and copies of trusts and death certificates. And if there is a delay in receiving insured funds, it is typically a matter of a few business days."
>federal law requires the FDIC to pay deposit insurance "as soon as possible."
Can you convert that to a number you fucking idiot kike shill?
Go on you worthless caught shill... let's see that expressed as a number.
FUCKING BUSTED. LOL. LMAO.
>2
They will repay you in CBDC
Bingo. And you won't be able to access to CBDC without a digital ID.
Time to [redacted] then
1,560 Weeks to go
Imagine not caring until J.P. Morgan chase and Bank of America are squealing like pigs. Until then, yellen has retreated to her basement to print c notes until Monday goy. We see if this bank can fail when it’s drowning in shekles hahahahaha
Wow if only there where some physical way to keep money out of the banks which has been proven since man first smelted ore
it was over two weeks ago
>Have $10,000 in bank
>Bank goes bankrupt
>FDIC returns my $10,000 (17 years later)
>Withdraw my $10,000 and buy one cheeseburger with all of it
>Spend another $5,000 on fries
Many such cases.
>buy gold and silver before bank crisis
>wait for hyper inflation
>pay off mortgage with ounce of gold
yas
As someone who is debtmaxxed and on welfare how does this affect ME personally?
Can you stop
protip save the trip to the bank and just buy shit online
Canadian banks will probably pick up all the pieces again when the deregulated US banking market collapses.
FDIC is providing access to accounts on Monday. If you had over 250k in that bank you are fucked. You get an IOU.
I love that when a bank takes your money and doesn't give it back, it's 'your problem', but when I you take their money it's 'stealing' and 'a felony'.
Don't sign the contract if you don't like it, goy
So, ahhhh, I'm sitting on like $2k and about 3/4lb of weed. In the grand scheme of a financial downfall, how fucked or not am I? Keep in mind the current value of street weed compared to cash in hand. Should I stock up on more weed for the collapse, or hold a nice mix of cash/weed?