Hey when all else fails take a few fukkas out before we starve to death...
Bank Collapse Catastrophe Warning
- Thread starter alexw
- Start date
Hey when all else fails take a few fukkas out before we starve to death...
I called this shit way back in March but very few paid attention.
What bank do you use? When your bank fails, what do you do???
http://www.bgol.us/board/showthread.php?t=244215
FDIC girds for bank failures
By Matt Jacobs
February 26, 2008
In the face of growing volatility and uncertainty in the market, the Federal Deposit Insurance Corp. is strengthening its ranks in preparation for the possibility of failing financial institutions, according to The Wall Street Journal.
The FDIC will seek to rehire 25 of its own retired members, many of whom specialize in bank closings and who dealt with such matters in the the 1980s and 1990s.
The agency now employs 233 people, mainly based in Dallas.
The agency is also searching for a company experienced in bank closings to assist them: On Sunday the FDIC ran a newspaper ad seeking a company that could deal with mortgages and student loans in the event of a bank failure.
http://www.investmentnews.com/apps/p.../REG/802566081
Harginger called me a fool.
Anothermind called me chicken little (the sky is falling).
Where are they now????
What bank do you use? When your bank fails, what do you do???
http://www.bgol.us/board/showthread.php?t=244215
FDIC girds for bank failures
By Matt Jacobs
February 26, 2008
In the face of growing volatility and uncertainty in the market, the Federal Deposit Insurance Corp. is strengthening its ranks in preparation for the possibility of failing financial institutions, according to The Wall Street Journal.
The FDIC will seek to rehire 25 of its own retired members, many of whom specialize in bank closings and who dealt with such matters in the the 1980s and 1990s.
The agency now employs 233 people, mainly based in Dallas.
The agency is also searching for a company experienced in bank closings to assist them: On Sunday the FDIC ran a newspaper ad seeking a company that could deal with mortgages and student loans in the event of a bank failure.
http://www.investmentnews.com/apps/p.../REG/802566081
Harginger called me a fool.
Anothermind called me chicken little (the sky is falling).
Where are they now????
i'm scared my damn self. as smart and aware as i am, i just feel like it's no way out. these muthafuckas done took all our lives in their hands and our forefathers let them. as kids we weren't taught shit about how the world REALLY works.yeah
but these niggas in this thread aint tryna hear that.
thats crazy talk you know
let them try to dodge the BS....or move to another country...lol....it wont matter. so many Americans have been so dumbfounded for so many years now....it will affect us all. Plan and hope for the best.
people are getting scared....once again.
Was it me that called you Chicken George/Chicken Little...I remember calling somebody that shit earlier this year...if so I apologize...and I will send you a free box of bullets... 
I called this shit way back in March but very few paid attention.
What bank do you use? When your bank fails, what do you do???
http://www.bgol.us/board/showthread.php?t=244215
FDIC girds for bank failures
By Matt Jacobs
February 26, 2008
In the face of growing volatility and uncertainty in the market, the Federal Deposit Insurance Corp. is strengthening its ranks in preparation for the possibility of failing financial institutions, according to The Wall Street Journal.
The FDIC will seek to rehire 25 of its own retired members, many of whom specialize in bank closings and who dealt with such matters in the the 1980s and 1990s.
The agency now employs 233 people, mainly based in Dallas.
The agency is also searching for a company experienced in bank closings to assist them: On Sunday the FDIC ran a newspaper ad seeking a company that could deal with mortgages and student loans in the event of a bank failure.
http://www.investmentnews.com/apps/p.../REG/802566081
Harginger called me a fool.
Anothermind called me chicken little (the sky is falling).
Where are they now????
Good advice, but silver is going to out perform gold. Also, if the shit hits the fan, and the dollar drops through the floor, you won't be able to use that gold to purchase shit. No one is going to have change to give you if you're using gold to make purchases. However, you can always use silver. As they say, gold is for kings and silver is for commoners. If we enter hyperinflation, your silver/gold will retain its value. You can go to any market place and purchase/trade/barter in silver, but you won't be able to use gold. However, you can use gold to make large purchases (land and livestock, for instance, in a hyperinflation environment). Silver is under-performing because traders are trading silver stocks that aren't backed by silver bullion. This is suppressing silver's price despite the fact that there a real shortage of trading silver. Just go to a local reputable coin shop and ask for some silver bullion, and watch yourself get denied. All they have is collectible silver coins (stay away from high premium coins). Hell, I had to twist my coin dealer's arm to get him to sell me some of his private silver he keeps at home. He had to go home and "dig" it up and brought me a 100 oz Johnson-Matthey bar. If you try to order from mints it takes months before they'll deliver, because they don't have much/any silver in stock. So, if you need your silver now, most people I know just shop for it on ebay. You pay a higher premium for it, but at least you'll have it in a couple of days. The peace of mind is worth the excess price. JMO. When it comes to silver, this guy is the truth ( www.silverstockreport.com ). He also has youtube vids, so go look for them.
It's over. Brace for impact.
YUP!
Gold is for bigger purchases that's why I bought the silver coin for smaller transactions.
nah just saying protection in case of riots etc
when people start starving......................bad muthafuckin news
Good move, I don't know what da fuck imma do about food. All I got is some gold, silver and a old glock
I been trying to invest in Euro-pacific they purposely pursue investments in foreign, non dollar denominated assets but I ain't even got the bread like that to fuck with em. I wanted to be able to stlye on n!ggas when dis shit went down Imma be assed out like the Obama nut-huggers on this site if it goes down this week
I was giving it atleast another 6 months
I feel ya. I wanted to invest with Euro-Pacific also, but their minimum was greater than my maximum.
So, I just headed down to the local coin shop and purchased all the silver I could. I'm headed there tomorrow to see if they can scrape together 40 more ounces for me. Silver bullion is hella-hard to find these days.
Yeah I hear you man...I was j/k...
earlier this year i invested in Private Equity funds from South Africa, Botswana and Rwanda.
I also own Government of Botswana bonds that are paying me double digits.
http://www.bse.co.bw/listed_companies/bonds.php
Also invested in 2 firms in South Africa directly. Getting nice returns. Looks like I'm going to put more money into Sub-Sahara Africa and Eastern Europe.
I also own Government of Botswana bonds that are paying me double digits.
http://www.bse.co.bw/listed_companies/bonds.php
Also invested in 2 firms in South Africa directly. Getting nice returns. Looks like I'm going to put more money into Sub-Sahara Africa and Eastern Europe.
and youre back in the most expensive most densely populated area in the country
at least you know if your sector fails everything is gone
Those of you who can't afford gold can buy gold index funds.
Better than the rest
Commentary: Five ETFs for people who hate ETFs
By Matt Hougan & Jim Wiandt
Last update: 5:26 p.m. EDT Sept. 14, 2008
NEW YORK (MarketWatch) -- Every hot new thing has its backlash, and exchange-traded funds are no different. No less an authority than John Bogle has called them "gimmicky" and a threat to long-term returns.
We'd be the first to admit that ETFs aren't perfect. ETFs often don't make sense for "slow and steady" investors who must pay a commission on every trade. And many ETFs have been launched into bubble-like environments, just in time for investors to shoot themselves in the foot by buying high and selling low.
Still, when you cut through the hype, even an investing curmudgeon will realize that there are some areas where ETFs offer the only practical, low-cost access.
Here are five:
1. Gold
A few years ago, buying physical gold was both a pain in the neck and terribly expensive. Your local bank might sell you a one-ounce American Buffalo coin, but you'd pay a 5%-10% mark-up for the privilege. Online metal dealers could do a bit better, and gold pools were cheaper still, but arranging the paperwork was a hassle; besides, you always ended up paying more than spot.
Enter ETFs. The SPDR Gold Fund (GLDspdr gold trust gold shs
News, chart, profile, more
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Insider
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Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">GLD) and iShares COMEX GOLD Fund (IAUiShares COMEX Gold Trust
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">IAU) let you buy real gold bullion and pay just 0.40% in annual expenses. Best of all, you can do it from the comfort of a brokerage account, just like buying a stock. The funds hold physical bullion in a secured vault. There's no need to worry about theft, paperwork, or anything else; just click and you are golden.
2. Frontier markets
Globalization is making the world a smaller place. That's bad for investors. The problem is that as the world comes together, so do the returns you get from U.S. and international exposure. In the first half of 2008, for instance, the Standard & Poor's 500 Index (SPXS&P 500 Index
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
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Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">SPX) fell 12.7%, the MSCI EAFE Index fell 13.8% and the MSCI Emerging Markets Index fell 16.4%. Where's diversification when you need it?
On the frontier. The recent debut of frontier market ETFs means investors can gain exposure to formerly off-limits markets such as Nigeria, Kazakhstan and Colombia. These countries exist outside the wave of globalization, with economies driven more by local factors than by what's happening in New York or Hong Kong.
The Claymore/BNY Mellon Frontier Markets ETF (FRNclaymore etf trust 2 clay/bny etf
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">FRN) was first-to-market, but you can get more targeted exposure from funds like the PowerShares MENA Frontier Countries Portfolio (PMNApowershares etf trust ii mena frntr etf
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">PMNA) or the Market Vectors Gulf States ETF (MESmarket vectors etf tr gulf sts etf
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">MES) .
3. Currencies
Anyone who has followed the soap opera story of the U.S. dollar in recent years realizes there are opportunities in currencies. In fact, currencies are one of the hottest corners of the ETF market. More than 30 currency-focused ETFs and exchange-traded notes (ETNs) are now available, and assets in those funds have more than doubled in the past year to top $6 billion.
These ETFs offer exposure to everything from the euro to the yen, the Mexican peso, the Chinese yuan and the Brazilian real. In a straight currency fund -- the largest of which is the Rydex Euro Currency Trust (FXEcurrencyshares euro tr euro shs
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">FXE) -- you get exposure to both the currency return and the interest rate of the local market.
4. Commodities
By now, most every investor knows about commodities, and probably has some socked away in their portfolio. The sector's huge returns over recent years, coupled with its famously low relationship to the stock market, means that commodities have emerged as a legitimate asset class.
With ETFs and ETNs, you can get exposure to commodities for much less than you can with mutual funds, and in a less complicated way than the traditional path of using futures or options. The iPath Dow Jones -- AIG Commodity Index Total Return ETN (DJPiPath Dow Jones AIG Commodity Index Total Return ETN
News, chart, profile, more
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">DJP) provides exposure to the broad-based DJ-AIG commodity index for a fee of 0.75% per year; most traditional mutual funds charge multiples of that.
5. Institutional strategies
The next wave of growth in the ETF industry will involve fund companies bringing institutional trading strategies to the retail market. There are already ETNs tracking "130/30" and "buy/write" strategies, and whole suite of "hedge fund replication" products are slated to come to market soon.
These kinds of funds aren't right for every investor -- and it remains to be seen if they'll deliver on their promises -- but they do bear watching.
http://www.marketwatch.com/news/story/five-etfs-people-hate-etfs/story.aspx?guid={E71FC508-E35C-4080-B2DA-13EA0005A6BD}&dist=msr_2
Another link to do some more reading:
http://www.businessweek.com/investo...an=investing_investing+index+page_top+stories
Do your homework but these are some alternatives................
.
Better than the rest
Commentary: Five ETFs for people who hate ETFs
By Matt Hougan & Jim Wiandt
Last update: 5:26 p.m. EDT Sept. 14, 2008
NEW YORK (MarketWatch) -- Every hot new thing has its backlash, and exchange-traded funds are no different. No less an authority than John Bogle has called them "gimmicky" and a threat to long-term returns.
We'd be the first to admit that ETFs aren't perfect. ETFs often don't make sense for "slow and steady" investors who must pay a commission on every trade. And many ETFs have been launched into bubble-like environments, just in time for investors to shoot themselves in the foot by buying high and selling low.
Still, when you cut through the hype, even an investing curmudgeon will realize that there are some areas where ETFs offer the only practical, low-cost access.
Here are five:
1. Gold
A few years ago, buying physical gold was both a pain in the neck and terribly expensive. Your local bank might sell you a one-ounce American Buffalo coin, but you'd pay a 5%-10% mark-up for the privilege. Online metal dealers could do a bit better, and gold pools were cheaper still, but arranging the paperwork was a hassle; besides, you always ended up paying more than spot.
Enter ETFs. The SPDR Gold Fund (GLDspdr gold trust gold shs
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">GLD) and iShares COMEX GOLD Fund (IAUiShares COMEX Gold Trust
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">IAU) let you buy real gold bullion and pay just 0.40% in annual expenses. Best of all, you can do it from the comfort of a brokerage account, just like buying a stock. The funds hold physical bullion in a secured vault. There's no need to worry about theft, paperwork, or anything else; just click and you are golden.
2. Frontier markets
Globalization is making the world a smaller place. That's bad for investors. The problem is that as the world comes together, so do the returns you get from U.S. and international exposure. In the first half of 2008, for instance, the Standard & Poor's 500 Index (SPXS&P 500 Index
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">SPX) fell 12.7%, the MSCI EAFE Index fell 13.8% and the MSCI Emerging Markets Index fell 16.4%. Where's diversification when you need it?
On the frontier. The recent debut of frontier market ETFs means investors can gain exposure to formerly off-limits markets such as Nigeria, Kazakhstan and Colombia. These countries exist outside the wave of globalization, with economies driven more by local factors than by what's happening in New York or Hong Kong.
The Claymore/BNY Mellon Frontier Markets ETF (FRNclaymore etf trust 2 clay/bny etf
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">FRN) was first-to-market, but you can get more targeted exposure from funds like the PowerShares MENA Frontier Countries Portfolio (PMNApowershares etf trust ii mena frntr etf
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">PMNA) or the Market Vectors Gulf States ETF (MESmarket vectors etf tr gulf sts etf
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">MES) .
3. Currencies
Anyone who has followed the soap opera story of the U.S. dollar in recent years realizes there are opportunities in currencies. In fact, currencies are one of the hottest corners of the ETF market. More than 30 currency-focused ETFs and exchange-traded notes (ETNs) are now available, and assets in those funds have more than doubled in the past year to top $6 billion.
These ETFs offer exposure to everything from the euro to the yen, the Mexican peso, the Chinese yuan and the Brazilian real. In a straight currency fund -- the largest of which is the Rydex Euro Currency Trust (FXEcurrencyshares euro tr euro shs
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">FXE) -- you get exposure to both the currency return and the interest rate of the local market.
4. Commodities
By now, most every investor knows about commodities, and probably has some socked away in their portfolio. The sector's huge returns over recent years, coupled with its famously low relationship to the stock market, means that commodities have emerged as a legitimate asset class.
With ETFs and ETNs, you can get exposure to commodities for much less than you can with mutual funds, and in a less complicated way than the traditional path of using futures or options. The iPath Dow Jones -- AIG Commodity Index Total Return ETN (DJPiPath Dow Jones AIG Commodity Index Total Return ETN
News, chart, profile, more
Delayed quote data
Sponsored by:
<img class="pixelTracking" border="0" height="1" width="1">DJP) provides exposure to the broad-based DJ-AIG commodity index for a fee of 0.75% per year; most traditional mutual funds charge multiples of that.
5. Institutional strategies
The next wave of growth in the ETF industry will involve fund companies bringing institutional trading strategies to the retail market. There are already ETNs tracking "130/30" and "buy/write" strategies, and whole suite of "hedge fund replication" products are slated to come to market soon.
These kinds of funds aren't right for every investor -- and it remains to be seen if they'll deliver on their promises -- but they do bear watching.
http://www.marketwatch.com/news/story/five-etfs-people-hate-etfs/story.aspx?guid={E71FC508-E35C-4080-B2DA-13EA0005A6BD}&dist=msr_2
Another link to do some more reading:
http://www.businessweek.com/investo...an=investing_investing+index+page_top+stories
Do your homework but these are some alternatives................
.
and youre back in the most expensive most densely populated area in the country
Me...? Huh...? If you mean NYC then hell nah...I ain't lived there in 2 years...
Here is what the deal is.....
Everything is this country is base on credit. Companies credit ratings rise and fall just like your FICO score, it depends on the financial health of that company. Now to relate this so that everyone is on the same page.
Take your House, say you owe $350,000
Take your Car, say $35,000
Take your Credit cards, say $15,000
Take your students loans, say $15,000
So you owe a total of $415,000
you make a decent living, say $100,000 a year
you bring roughly in $8K a month (fuck taxes, FICA, and all that shit right now)
you got $35,000 in 401K, savings, CD, stocks, etc.
your monthly payments on everything is $5,500
you 'save' $2,500 a month, cuz your baby mama hasnt sued yet.
One day, you come home, and EVERY creditor wants their money now, and in full, so now you gotta come up with $415,000!!!! WTF!!! You will be gutted, you gotta sell everything, savings, house, car, everything gone. AND you not going to get full market price for the stuff you selling, cuz everybody know you broke. you have nothing else to do, but file bankruptcy.
Now because the the dollar is low, and there is a recession, people arent buying stupid shit, only the essentials. Companies (almost all foreign) that grant credit on the multi-mill/billion dollar scale arent making any money off of U.S. anymore. So U.S. companies are being forced to deal with the global equivalent to Payday Loans stores, which REALLY fucks you (as we all know).
Macroeconomics and Microeconomics principles mirror themselves, only in Macro, it is on a much larger scale.
We, as black people, have to get financially sophisticated, because all these banks make 90% of their profit on the bottom 10% of their customers. Which is why when you fuck up your credit, everything is higher, when you think that, if you got less money, then you should pay less.
The country isnt as fucked as one is to believe, what is happening is that there is monumental shift wealth and power in the world. China has 1.3 billion people (U.S. only has 300 million), and there is global shift to make money off them and other emerging markets. Everything that we buy, damn near, comes from China, and these other emerging countries. This is why I say we are not as fucked.....Growing up (I am a child of the 70's), there was one car, one TV, one phone, in the house, now, every 12 year old has a cell phone, there is a TV in every room of the house, and you got two or three cars. There is no ordinary shit that most americans REALLY need, just extra bullshit that they dont (24' inch rims on that chevy, anyone). So the global markets are shifting to China and other places so that they can make that EVERYDAY money off of them (this is why we are paying more for Gas, because these emerging markets are demanding more). Dont keep leading you life, and think that shit like the Dow Jones, NASDAQ, etc. dont effect you, because they ALL do.
Good Night Bitches.....
Wow...hard to believe I lost complete track of how things once were...
damn great post bruh
For what? That exact fear you puttin in peoples mind is what will bring this whole "thing" down. As so what if you do, you think them few dollars will be worth anything? Not at all my dude, not at all. So yo best bet is to chill and ride this shit out like everybody else.
my bad I thought u bounced back to ny from vaMe...? Huh...? If you mean NYC then hell nah...I ain't lived there in 2 years...
talked to my boy on Wall Street couple minutes ago, they are all shitting their pants.
he said the best bet now would be to buy into an index fund that tracks the market because we are at such a low right now.
talked about cycles of the economy etc....
sounded good if you believe we are going to make it out of this one, I'm not so convinced we are going to ever make it out..........
Do you know the Fed is thinking about adding the Freddy Mac & Fanny Mae debt of 5.2 trillion to the budget????
Thanks Alex,
but I forgot to add...."and you are being sued by your baby's momma, and she hitting you hard for back child support...."
LOL
Good point... This shit should be a sticky
man i wouldnt buy shit except gold right now- you know the hedge funds are about to kill the commodities and put the nation in starvation mode with $20 bacon n shittalked to my boy on Wall Street couple minutes ago, they are all shitting their pants.
he said the best bet now would be to buy into an index fund that tracks the market because we are at such a low right now.
talked about cycles of the economy etc....
sounded good if you believe we are going to make it out of this one, I'm not so convinced we are going to ever make it out..........
Do you know the Fed is thinking about adding the Freddy Mac & Fanny Mae debt of 5.2 trillion to the budget????
the chickens coming home to roost
Bush let every industry regulate themselves aka no regulation and now he's gonna be woodrow wilson bush
fuckin pirates did this shit
worst part is the truly wealthy are gonna use this opportunity to take even more shit
cosign
man i wouldnt buy shit except gold right now- you know the hedge funds are about to kill the commodities and put the nation in starvation mode with $20 bacon n shit
the chickens coming home to roost
Bush let every industry regulate themselves aka no regulation and now he's gonna be woodrow wilson bush
fuckin pirates did this shit
worst part is the truly wealthy are gonna use this opportunity to take even more shit
You are right...............
Who are you with for mutual funds? I with CIBC, they aint got any African funds.
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