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12122810 No.12122810 [Reply] [Original]

What are ((((they)))) trying to tell us?

Are the Jews trying to take down Robinhood just like crypto?

>> No.12122846

this is a gigantic revolution in the making when it comes to money and their scared

>> No.12123291

>>12122846
But why

>> No.12123299

>>12122810
n-no, dont give the goys any interest, what are you doing!!/?

>> No.12123327

>>12123299
They’re actually losing their $*** over Robinhood giving 3% interest???!!!!

With my existing checking/savings account I’m lucky to get a fraction of a percent.

>> No.12123798
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12123798

>>12122846
>>12123327
>>12122810
This is literally a scam

>Robinhood, which is a private company with no public financial information, has a business model that offers free brokerage trades, which is far less than the industry standard, between $5 to $20 per trade. With this new checking and savings product, more cash is likely to go out the door. Bloomberg reported that the company will be using U.S. short-term Treasuries, which pay around 2.45%, far below the 3% the company will be paying people who park their money.
>That means Robinhood may be losing a substantial amount of money from each person who participates.

>>12123327
There are plenty of legit savings accounts with 2% returns, such as Ally, I suggest you look into them.

>> No.12123829

>>12122810

The same thing that some of us have been talking about for days... it's a scam.

1. Robinhood asks you to deposit money

2. They use that money to trade their own book and to expand their trading business.

3. Everything is great as long as things go OK

4. But as soon as they go bad, your money is all gone, and you aren't insured so you're ass out.

Once you take the time to ask and answer "How does Robinhood make their money?", things should start to become clear.

>> No.12123846

>>12123829
I have a feeling they were probably betting that rates would continue to rise so they could offer the 3% as a way to attract new customers, loose money in the short term, but make up for it later as they keep the income from higher rates. This is unlikely to pan out, though.

>> No.12123850

>>12123291
because the profit margins on banking are unreasonably high on the part of the banker. someone coming in and undercutting with technology could start a rate war that marginalizes the fat profits.

>> No.12123860

>>12123850
>t. doesn't know what treasuries are and thinks bankers do everything

>> No.12123869

>>12123846

Or they're just going to take the money and put it into a stock paying a 4.5% dividend, and just scalp in between.

But paying an abnormally high interest rate is usually the sign of something wrong. Either a company short on money, or someone operating a scam (see "The Polka King")

>> No.12123901

>>12123869
they've said publicly they're funding them through short term treasuries, which are at 2.45% or so, which means they've already admitted they're loosing money. If they were operating a more traditional scam, why even admit your numbers don't add up?

>> No.12123908

>>12123860
>>12123850
This is already done with credit unions and online banks like Ally, the best you can get rn will be a little bit more than 2%.

>> No.12123934

>>12123901

They also said that the accounts would be SIPC insured, which the SIPC corrected them on in a very strenuous way.

>> No.12123944

>>12123934
true. Although i'm not quite sure if that's due to malice or incompetence. It probably would have gone far better for them if they hadn't said anything about insurance, they should have seen the bad publicity coming.

>> No.12123957
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12123957

>>12123944

Call me old fashioned, but if you're running a major company and you're going on CNBC to raise confidence in your company, put on a fucking tie.

>> No.12123963

>>12123957
lol, looks like he just finished making biscuits from a can on a sunday morning.

>> No.12123965

>>12123901
It's a user acquisition scam. They are trying to get a fuckton of users before IPO when they dump their bags on the public. Tech companies are valued by users.

>> No.12123985

>>12123965
that makes more sense I suppose

>> No.12124013

>>12123829
That is literally what ALL BANKS do you retard. Holy shit. You're clearly not aware that we live in a fractional reserve economy.

>> No.12124131

>>12124013
Money in a bank is fdic insured if something happens. Its not fdic insured in robinhood.

>> No.12124134

>>12123963
kek

>> No.12124147

Basically there's only an issue if you think RH is actually at risk of going under, and honestly I don't

>> No.12124153

>>12124013
banks don't offer 3% on average though, and if you can't tell why that's an issue you clearly don't have a scope of reference for money market securities to understand the point the Anon was making

they're taking on a moderate amount of risk to raise the yield, something outside the realm of money markets, and whatever it is isn't FDIC or probably SIPC insured either

>> No.12124318

https://www.marcus.com/us/en/savings/high-yield-savings

2.05% APY with a minimum of a $1 dollar and a max of $1 million ($3 million if you got in before April/2016).

No other savings account offers this high of interest unless you have thousands in savings.

It's Goldman Sachs but who cares.

They also offer 2.25% 13 months no-penalty CD's & 2.65% 12 month High-yield CD's ($500 minimum deposit).


Does any other company offer anything better than this?

>> No.12124448
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12124448

Robin Hood literally sells your trade data so companies can trade against you.

https://www.zerohedge.com/news/2018-09-15/robinhood-investing-app-makes-millions-selling-users-data-high-frequencstealing

>> No.12124463

>>12124153
They said it would be SIPC, so either the SIPC ends up walking back their most recent statement or RH ends up making a change to the program

>> No.12124554

>>12124153
Ur a fucking retard banks use to afford 5-8% LMFAOOO

>> No.12124560

>>12124463
I don't see any reason the SIPC would walk back their comments given that legal precedence appears to be on their side and they don't cover money market funds this way.

>> No.12124569

>>12123798
I think tangerine offers 3%.

>> No.12124571
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12124571

so am i still getting my flag card

>> No.12124603

>>12124318
Ally bank is pretty close at 2% with pretty much identical terms, and they also match those CD rates. Ally also compounds the interest daily, but I'm not sure what the rate is for Marcus.

>>12124569
their website says 1.25%.

>>12124554
The rates for savings accounts are determined by the broader interest rate environment, and thus ultimately by the Fed's monetary policy. When the Fed sets higher interest rates, so do savings accounts.

>> No.12125109

>>12124448
>put in 1k to begin and only seeing this link now
is it too late?

>> No.12125678

>>12123829

This unfortunately. They are still (((them))) OP, just another flavor of banker in need of rope.

>> No.12125824

>>12123901
>short term treasuries
Which is why they are in trouble. They claimed it was a checking and savings account when it's an investment in money markets or assets. Hence sipc threw down a red flag saying they arent insuring it if it's not actually money invested. It's all because robinhood basically lied when it was a checking and savings account to get everyone's attention. It's a money market. >>12123965
This. They have revenue from selling orders to others and want to boost customers prior to ipo. They can eat the loss via venture capital.

>> No.12125879

>>12124603
>Ally bank is pretty close at 2%
Ally 12 month is closer to 2.65% right now on their website. Thinking after fed raise rates again next week I'll get a little in there.

>> No.12125901

It seemed too good to be true. If it's not SIPC insured, I'm out

>> No.12126321

>>12122810
The insurance doesn't cover saving accounts, only account that were made for trading. There is no conspiracy here you moron, it's a contractual disparity between the insurance company and what robinhood offers.

>muh Jewish conspiracy number 37472920

>> No.12126366

>>12125879
I was referring to their savings account rate with the 2%.

>>12125824
Yeah, I agree it was massive false advertising.

>> No.12126608

>>12124448
All brokerages do this, with few exceptions. Use a limit order.

>> No.12126621

>>12125109
If you are only using the app to make long term investments with that relatively small amount of money you should be fine. You might end up paying a couple of cents higher on a trade but nothing major. The problem more lies in a macro context where HFT firms will make millions off of the masses of amateur traders. This is just another reason why amateurs shouldn't day trade the stock market.

>> No.12126639

>>12126608
Other brokerages are more open about what they do with data. The problem is that Robin Hood masquerades as trying to help the small-time investor while just serving as another vehicle for institutions to rip off the little guy.

>> No.12126653

I have 130k in cash in a checking account, unsure what to do with it. Stocks seem badly overvalued and I already max out my IRA anyway, I won't touch cryptos with anything more than a few hundred bucks just to fuck around, so what can I do? a 3% interest rate would net me $4500 a year, where else can I get something like that as risk free as possible?

>> No.12126674

>>12122810
>>12123798
I was saying this yesterday, but no one would listen. You guys are literally letting Jews put your money into their own securities. The SIPC is probably concerned because they know the 'bank' is going insolvent.

>> No.12126686

>>12124013
No m8, banks take that money and issue loans at interest. Taking your money and investing it in securities is another ballgame.

>> No.12126731
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12126731

>>12123291
Because they have to control the money to control the goyim and now we dont need to invest 5 grand through a broker who takes monthly fees to lose 40% of out investment by the next year.
Now we dont have to get kosher approval or even make a paper trail if we want to send money to someone Jews dont like.
Theres all sorts of benefits to this which has kikes shaking in their kippas.

>> No.12126849

>>12126674
Well the SIPC would be concerned regardless because they don't cover these kinds of funds the way robinhood advertised to begin with.

>>12126653
Some kind of bond would be what you're looking for. Corporate bonds can get you like 5% or more, t-bonds are safer and retain their value better, and if you wait till after the rate hike this week I believe the 2 year bond will be pretty close to 3%.

>> No.12126884

>>12126686
well this did happen a bit between the appeal of Glass-Steagall and the passing of the Volcker Rule.

>> No.12126909

>>12126849
>t-bonds are safer and retain their value better, and if you wait till after the rate hike this week I believe the 2 year bond will be pretty close to 3%.
Yeah this is where I would probably go....is an ETF or something the way to go? i know fees will eat into the return. My IRA is with a robo advisor but they really only do retirement investments, I want to be able to access the $ if I need to.

>> No.12126920

>>12126653
2 year treasuries?

>> No.12126973

>>12126909
An etf in T-bonds? Well, I've had a mutual fund based on the same principle and while it's ok the major issue I have with it is the risk of loosing principle. While the prices aren't too volatile you don't have the same guarantee of getting all your money back with maturity.

>> No.12127004

>>12126920
>>12126973
yeah I don't want to lose any principal, but I'd like the highest return possible within that stipulation.

I've never really messed with bonds, sorry. So if it does go up to 3% (or whatever) next week, and I open it after that, what if the fed goes to 3.25% in say summer of next year? SO I automatically move up or am I locked at the older 3%?

I just did some looking and I see citizens offer an FDIC backed 2.25% savings account...may look into that next week too, see if that number goes up.

thanks anons for making me think about this. I grew up a poorfag so I hoard cash compulsively, hence why I have so much rotting in a checking account.

>> No.12127123

>>12127004
The rates for T-bonds are fixed, yeah, so they won't go up retroactively. You do get those benefits with an etf or mutual fund, but the issue is that with bonds the prices moves the opposite way of interest rates. So if you've got an etf and the interest rates rise you'll loose value of your principle unless you wait for it to come back up to sell.

And yeah, high yield savings rates usually increase with Fed rate hikes, so you should be able to at least get 2.15% in general after next week.

A side note, if you're leaning towards government bonds maybe also check out debt from government agencies which has slightly higher rates and is just about as safe as treasury bonds.

>> No.12127192

>>12123798
>>12123829
So this means you guys are not interested in my magical money printing box? You might ask questions like, how does it work, where is my money going, why are you able to offer such a higher rate? The answer to these questions is simple, the jews, communists, and niggers are trying to stop my product from being brought to you. You had better buy 1000 of them before they try to shut me down!