RIP Finances...
Yes everyone knows the banks and stocks are absolutely shitting the bed. But does anyone remember the movie Margin Call from 2011, where the entire plot of the movie was about one of the first finance companies to see the impending crash in 2008? Spoilers: they sold all of their assets at a major loss. Financial investment firms and banks don't make moves like this, unless the grim reaper is at the door. Second line of this article: "Bank investors were spooked by SVB Financial Group's decision to sell a large chunk of its securities portfolio at a $1.8 billion loss as it deals with an outflow of deposits, which more than halved the technology-focused bank's stock." Pull your cash asap, and get actual physical assets. Not soon... Do it now, and don't look back. https://www.wsj.com/livecoverage/stock-market-news-today-03-09-2023/card/four-biggest-u-s-banks-lose-47-billion-in-market-value-8fmAmiqs4PDb1F60OSFg
The Wall Street Journal
What actual physical assets would you recommend? If the banking system fails then Bitcoin is the savior
bitcoin would absolutely collapse to the mean. It's still overvalued. Tools, capable trucks, precious metals, etc. Those are my go-tos, but I live in Texas.
If the banking system were actually failing, the government would just outlaw gold/silver/bitcoin.
I'm holding it just in case if markets go up. Is it wrong?
This is the way. Every crash ever.. if you held instead of buying gold and stuffing cash in ur mattress would lead u to more money in a 5-10 year timeframe See: every depression and recession
Now do: if you sold and bought again 2 years later
Rip numbers on a screen. Lol. Money isnt real bro. And if it was, definitely not after 2020.
wow it’s not often someone out-doomers me
52B is nothing
I thought it was lawyers, guns, and money
any risks of layoff at JS?
I think cash and crypto are the king. All other assets will nose drive because banks are forced to sell assets at cheaper prices to get the liquidity and this will create chain reaction to all other assets class. Crypto wins if the government prints more money to bailout the situation. Cash wins if the government doesn't print the money and let some people's deposits loose at these banks.
Cash is king. Unfortunately everyone I’ve talked to views crypto as a joke because of centralized exchanges collapsing. And now there’s a shocking amount that are tied up on this SVB collapse. This unfortunately will affect the valuation of crypto currencies themselves.
Buying a Rolex counts as a physical asset?