First Republic Bank on verge of collapse

[Frood]

There is not enough gold on the world to have a gold standard.

 

[Joe]

This is exactly why it will always have value. As things fall apart further it will have more. I’ll be in SF on the 18th. On the 21st I’ll own another 10 1 oz Indian head gold coins.

...and yet with all those US banks going bust, I'd find a way to store your gold in a safer place, @Seamajor

US is not like Canada where the banks here can almost by law never go broke.
Investing in some Canadian banks is almost the equivalent of a government backed security.
Almost 100% guarantee that they'll never go under.

Lottsa stories about banks during the Great Depression where people who had money in theUS banks lost everything including what was stored in their safety deposit boxes. Plus the US banned the sale of gold for 40 years. I believed they seized it from ordinary citizens such as yourself.

Canada never banned the sale of gold during the Great Depression but the US did.

When times are tough the government will try to get its hand on every penny they can and devise any scheme possible to prevent money from leaving the country. And the US is verring towarids that state.

That's why you ought to think about storing your gold or at least a portion of it in other than a safety deposit box.

Is your bank safe from going bust Seamjor?

do yo know. I'd look at their monthly statements if I was you

 

[The Prowler]

Explain what you mean. Treating cash flow as a form of Cost benefit analysis is not how it works.

If the cost is the same, and the benefit is greater, as I explained, then that is exactly how it works.

If you are re-arranging cash flow to have now and pay later you are paying for the earlier time of goods which are assets held by you but "owned " by the company till you settle..

I am not "re-arranging" cash flow to have now and pay later. I am doing it for the 1-4% return.

I do not believe the assets are owned by the company until you settle your bill. But who cares if they are? I pay my bills on time every month.

If you are gaming the company to make $10 then I promise you it wont last.

It is not gaming the system. They know people do this. It is why they make so many credit cards with Cash Back and similar incentives to use them.

I have done this for about 30 years.

It is, in the big picture, increasing costs to the vendor, therefore increasing prices on products and services.

 

[The Prowler]

...in other words, you're a liar @The Prowler

You boast your imaginary assets as if you've weaponized them.

You're a toothless braggart and nothing more.

No, @Joe, I have investments with several institutions.

@Joe These include The Cooperators, TD Wealth Management, and Manulife Financial. And there are others.

@Joe There is not one central organization that is aware of all the investments and that can provide a consolidated report like you naively requested.

@Joe You dope.

 

[The Prowler]

...and yet with all those US banks going bust, I'd find a way to store your gold in a safer place, @Seamajor

US is not like Canada where the banks here can almost by law never go broke.
Investing in some Canadian banks is almost the equivalent of a government backed security.
Almost 100% guarantee that they'll never go under.

Lottsa stories about banks during the Great Depression where people who had money in theUS banks lost everything including what was stored in their safety deposit boxes. Plus the US banned the sale of gold for 40 years. I believed they seized it from ordinary citizens such as yourself.

Canada never banned the sale of gold during the Great Depression but the US did.

When times are tough the government will try to get its hand on every penny they can and devise any scheme possible to prevent money from leaving the country. And the US is verring towarids that state.

That's why you ought to think about storing your gold or at least a portion of it in other than a safety deposit box.

Is your bank safe from going bust Seamjor?

do yo know. I'd look at their monthly statements if I was you

@Joe When did @Seamajor indicate that he stores his gold at a bank?

 

[Joe]

Your favorite guy thinks another bank failure may be on the horizon @The Prowler:

 

[The Prowler]

Your favorite guy thinks another bank failure may be on the horizon @The Prowler:

@Joe That guy is a stooge.

 

[Joe]

@Joe That guy is a stooge.

He's an entertaining character who was planted by YouTube to instill fear into people like you@The Prowler

 

[The Prowler]

He's an entertaining character who was planted by YouTube to instill fear into people like you@The Prowler

@Joe What is you Net Worth?

@Joe After years of worrying about and obsessing over money....have you built much wealth?

@Joe Do you really think staying out of the real estate market was a good call? Hahahaha!!!

 

[Joe]

@Joe What is you Net Worth?

@Joe After years of worrying about and obsessing over money....have you built much wealth?

@Joe Do you really think staying out of the real estate market was a good call? Hahahaha!!!

Why are you comparing yourself to me @The Prowler?

I'm just an average Joe with average net wealth.

But you....If you're a 1%er you should be worried about other 1%ers.

How do you compare with them? And why aren't you doing this?

Are they better off than you Prowler?

And how come you can't afford to buy @Biggie Smiles home in Florida while you're stuck in some Ontario shithole?

Remember, you gotta keep up with the Joneses. Otherwise you're nothing.

But of course you aren't a 1%er because you waste your time in forums like these pretending that you are.

and don't forget to post all f your assets in this forum for all here to see via a financial statment.

Microsoft Excel .XLS is acceptable.

 

[The Prowler]

Why are you comparing yourself to me @The Prowler?

@Joe Do not flatter yourself. I am not comparing myself to you.

I'm just an average Joe with average net wealth.

@Joe And how much is that?

But you....If you're a 1%er you should be worried about other 1%ers.

@Joe I am not a 1%er, you delusional idiot!

How do you compare with them? And why aren't you doing this?

@Joe I am not comparing myself to anyone. Jump off the crazy train @Joe!!!

Are they better off than you Prowler?

@Joe I doubt it, but it is what it is, @Joe.

@Joe What is your Net Worth after fixating on finances for a fuck tonne of time?

And how come you can't afford to buy @Biggie Smiles home in Florida while you're stuck in some Ontario shithole?

@Joe I would have to liquidate some investments and sell my own home to purchase Joo's house with no debt. But what does that have to do with your Net Worth, @Joe?

Remember, you gotta keep up with the Joneses. Otherwise you're nothing.

@Joe Is that what you really think @Joe? Then you must be worth a lot @Joe. What is your Net Worth @Joe?

But of course you aren't a 1%er because you waste your time in forums like these pretending that you are.

@Joe Whatever gave you the impression that I was claiming to be a 1%er @Joe? You delusional retard!

and don't forget to post all f your assets in this forum for all here to see via a financial statment.

@Joe I thought you just wanted to see a summary of all my investments. @Joe So now you want to see all my assets?

Microsoft Excel .XLS is acceptable.

@Joe What are you talking about? @Joe You want to see a spreadsheet detailing my assets?

@Joe What is your Net Worth after worrying about money for so long?

 

[Cookie Monster]

If the cost is the same, and the benefit is greater, as I explained, then that is exactly how it works.



I am not "re-arranging" cash flow to have now and pay later. I am doing it for the 1-4% return.

I do not believe the assets are owned by the company until you settle your bill. But who cares if they are? I pay my bills on time every month.



It is not gaming the system. They know people do this. It is why they make so many credit cards with Cash Back and similar incentives to use them.

I have done this for about 30 years.

It is, in the big picture, increasing costs to the vendor, therefore increasing prices on products and services.

OK I get it now, cashback that you do is a form of loss leader.

 

[The Prowler]

OK I get it now, cashback that you do is a form of loss leader.

Not really a loss leader as the credit card company does not lose money.


When a consumer uses a basic credit card with no perks, the vendor pays the merchant card company a percentage of the transaction by way of a monthly bill. It might be 1.5%.

A $1000 sale will put $1000 into the vendor's bank.
The vendor will be billed $15 by their merchant card company.
The merchant card company will disperse a percentage of the $15 to the credit card company (I am not sure what this percentage is).
The customer will be billed $1000 by the credit card company and will incur huge interest charges if they do not pay the bill on time.

The vendor only nets $985


When a consumer uses a basic credit card with perks, the vendor pays the merchant card company a higher percentage of the transaction by way of a monthly bill. It might be 3.0%.

A $1000 sale will put $1000 into the vendor's bank.
The vendor will be billed $30 by their merchant card company.
The merchant card company will disperse a percentage of the $30 to the credit card company (I am not sure what this percentage is).
The customer will be billed $1000 by the credit card company and will incur huge interest charges if they do not pay the bill on time.

The vendor only nets $970

This is why I said in the big picture it could increase prices to the customer, as the vendors have to recover that money somehow. There are additional costs like leasing/buying the credit card machine and "Payment Network" fees.

In many B2B transactions, there has always been a discount for paying by cash/cheque within a set period of time. You would not get this discount if you were paying by credit card - so that is basically a charge for paying by credit card. If you have seen something like "2/10 net 30" you have seen what I am talking about. That means if you pay within 10 days, you will get a 2% discount. You never get that if you pay by credit card.

In 2022 in Canada they have made it legal for companies to start charging a fee t a retail customer if a customer pays by credit card. I have not see it yet, but when I do I will not pay by credit card. They are supposed to make it visible at the checkout if they charge a fee and it has to be detailed on the receipt.

 

[Cookie Monster]

In many B2B transactions, t

Ah, thats a bit different.

Anyway,

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Banking system go poop so maybe its best to max out lol.

 

[The Prowler]

Banking system go poop so maybe its best to max out lol.

I think it would be good if the banks in USA were to consolidate. Some of those smaller banks put themselves into bad situations.

I am usually for smaller government and less regulations, but in the case of banking, I am happy that Canada has stricter regulations. All our largest banks (there are 5 that people generally consider The Big Five) make a healthy profit and pay decent dividends.

I have never invested in an American bank and doubt I ever will.