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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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54077927 No.54077927 [Reply] [Original]

Will there actually be a bank run tomorrow? And if there is will getting cash actually be helpful? What good is cash over digital credits?

I personally am going to go to Wells Fargo and pull out $20,000 cash when the bank opens. I don’t even know why, it’s just a feeling, like how I bought 48 rolls of toilet paper a week before the federal government closed down for Covid. I had never bought that much toilet paper before, but I had spent a lot of time on 4chan that month. I might withdraw $40,000 instead, it’s all in a checking account so I guess I could withdraw all $110,000. Will my local branch have that much cash on hand?

>> No.54077942

>>54077927
The "panic" is already over. The govt will backstop depositors. The only damage was the three banks that service crypto got shut down. Open your fucking eyes.

>> No.54077965

>>54077927
Will cash even be useful if the banking system collapses

>> No.54077977

Unless you have more than 250k, you have literally nothing to worry about. And as was just proved today, even if you more than 250k, the government will just give you the money in the off chance it goes missing.

>> No.54077979 [DELETED] 

>>54077927
>>54077965

Who cares? We are on 4chan. We are supposed to be rooting for this to happen.

>> No.54077989

>>54077927
No, the government will print money to fix everything again

>> No.54078024

The Fed confirmed other banks are footing the bill.
https://home.treasury.gov/news/press-releases/jy1337

>> No.54078036

>>54078024
Kicking the can down the road?

>> No.54078065

>>54078024
Kek, "inflation is transitory" yellen says that "no losses will be borne by the taxpayer" you're fucked

>> No.54078101

>>54077942
So the banks that enabled FTX to swindle billions just got their investors made whole before dissolving the embezzlement vehicles and burning all the evidence.

>> No.54078236

>>54078024
>banks are footing the bill.
If you think they're not passing that bill onto the customers, you're literally retarded

>> No.54078245

>>54077927
Does no one remember what happened with toilet paper during the COVID nonsense? People don't trust the gov at all right now because all they've done is lie like crazy about everything. So, you tell me.

>> No.54078252

>>54078065
It is, that's the problem
The problem is that inflation ended and we're falling into a deep pit now.

>> No.54078261

>>54078024
>1337
they're laughing at us

>> No.54078276
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54078276

wait y’all ain’t 100% in metals?

>> No.54078297
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54078297

>>54078252
>inflation ended

>> No.54078741

>>54077927
More like Based Run amirite?

>> No.54078759

>>54077942
They are backstopping ONLY depositors. This is only half a victory. A lot of people high up are doing alot of thinking right now.

>> No.54078765

>>54077942
>3 banks fail in 3 days
>panic is over
Retard

>> No.54078796

>>54078024
>banks
so you mean you?
that is your money, right?

>> No.54078815

>>54078765
^this
If you are a person like Peter Thiel. You'll be thinking right now... "alright so basically, i can't risk putting my money to work right now, I better pay a room full of people to do risk assessment and pay another room full of people to help me store my wealth safely while the banks collapse after this so i can stay rich and the poor can stay poor"

>> No.54078845

I hope there's a bank run tomorrow and the market crashes too. Can't wait to buy a bunch more stocks in perfectly good companies for cheap like I did in March 2020 so I can 5x my money again.

>> No.54078910

>>54077927
The Fed will print as much money as needed to fulfill all withdrawals

>> No.54078946

>>54078276
no, only 100% in Bitcoin (ticker: BTC)

>> No.54078955
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54078955

>>54078910
is this what run away inflation looks like?

>> No.54078972

>>54077927
the government caved
the risk isn't that you'll lose money at a bank
it's that's the money will lose value at the bank

>> No.54079011

>>54078972
stock market still needs to crash. they'll be unloading positions to any buyer willing to buy at market value.

>> No.54080854

>>54078955
It’s only 19 trillion dollars anon. You scared of 40% CPI?

>> No.54080916
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54080916

>>54078955
No, THIS is what inflation looks like

>> No.54080928

>>54077927
1-9 no, 0 yes, dubs total financial collapse, trips WW3 + financial collapse, quads + I fart