Current issues with the market - Any ideas on avoiding the end?

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mindlessobserver said:
Robert Kiyosaki says the Bank of Japan is gonna go down. Take with appropriate salt as Kiyosaki is a yuge doomer.

Financial world legend sounds alarm over 'biggest bank that's going down' | Fox Business

Rich Day Company co-founder Robert Kiyosaki dissects why he foresees the Bank of Japan collapsing and the potential implications it could have on the global economy.
www.foxbusiness.com www.foxbusiness.com
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Is it wrong that I kinda think Kiyosaki seems like he's made more money selling people his rich dad poor dad books and tie ins then any actual investment or business decision he's made in the last 10 years.
 
vern said:
Is it wrong that I kinda think Kiyosaki seems like he's made more money selling people his rich dad poor dad books and tie ins then any actual investment or business decision he's made in the last 10 years.
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That's the feeling I got, but I also never finished his first book and only got like 5 or 10 minutes into it before quitting.
 
Paywalled ZH article that's interesting. I don't claim to understand most of it but it looks like more book cooking shenanigans to me are in order.
"QE Via The Back Door": JPM Asks If The Fed Will Restrict Reverse Repo Use To Short Circuit $1.5 Trillion Bank Run (Non paywalled archive):
The bottom line according to the JPM flows guru (as he argued recently and as we agree) the shift in deposits to MMFs is unlikely to stop for as long as the MMF yield-bank deposit rate gap remains wide, which in turn depends on the Fed's target rate. Said otherwise, only the Fed can short-circuit the bank run, and it will do this when it starts cutting rates (or engage in actual QE).
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Also, once again to nobody's surprise, it appears the BLS inital numbers are bullshit (archive).
  • last week claims came in at 246K, revised massively from 198K
  • the week before that was 247K revised from 191K
  • the week before that was 230K revised from 192K
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2023-04-06_05-40-47.jpg
 
vern said:
Is it wrong that I kinda think Kiyosaki seems like he's made more money selling people his rich dad poor dad books and tie ins then any actual investment or business decision he's made in the last 10 years.
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He also completely made that shit up. There was no Rich Dad.

Gotta respect his hustle though.
 
std::string said:
He also completely made that shit up. There was no Rich Dad.

Gotta respect his hustle though.
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Holy shit really?
I don't know if this actually rivals Napoleon Hill in terms of profiting off of made up shit cause while a fake rich dad isn't as bold of a claim as being personally taught by Andrew Carnegie and advising two presidents, at least Hill had the decency to only make one book and not a multi million dollar media brand.
 
mindlessobserver said:
No joke , if you are saving any amount of cash in a bank you are a fool. I use the banks solely as pass through entities at this point. They are for paying bills, and that is about it. I rarely have more then a couple hundred bucks in either of my checking accounts. As for my savings accounts, the moment regulators said banks could use those too for loans was the moment I took all my money out of them.
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Where do you keep it instead? Cash? Metals? Birkin bags?
 
NoReturn said:
Where do you keep it instead? Cash? Metals? Birkin bags?
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Silver, Cold store Crypto Wallet (On a laptop not connected to the internet), Stocks and everyone's favorite, in an envelope on a bookshelf. And why not? Banks offer zero benefit to me, average retail investor and consoomer while they get enormous benefit from me. And considering how shakey the banking system is atm, I don't trust it right now. The reward is not worth the risk. Banks have gone bust and taken all their depositors with them before.

You can probably also do Government Bonds too if that is your thing, but the way those are going I dunno man. Plus it means giving my money to the Government to do with. Even if you get a small fee for doing so, its just, ick.
 
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Samsung just ate shit in the chip fab business and profits were down ~97%. They can go eat shit for the memory oligpoly (with Hynix + Micron) for all I care.
Your daily Zerohedge doomer article about a bank run for small banks (archive):
According to the prior week's data, Small Banks saw a tiny $1.1 billion outflow (NSA), which prompted much rejoicing early on Monday when markets opened.
That tiny outflow was revised to a massive $47.5 billion outflow according to this week's data!

So just how much will this last week's data be revised next week?
* * *
US commercial bank deposits (ex-large time deposits) fell for the 10th straight week (to the week-ending 3/29), down $55 billion to their aggregate lowest since April 2021...

Rather oddly, on a non-seasonally-adjusted basis, total US commercial bank deposits (ex-large time deposits) ROSE $54 billion last week...

On the bright side, the pace of outflows has slowed to $55.7 billion (from around $180 billion the previous two weeks), but the outflows look set to continue as Money Market fund inflows kept rising this week (a week ahead of the deposit data)...

Both large and small banks saw outflows once again, with large banks seeing $48 billion in outflows (to the lowest since March 2021) and small banks seeing a modest $7.2 billion in outflows (to the lowest since June 2021)...
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Does anyone think the gov will bail out the small banks? I don't but rate me optimistic since they might if it thinks it will spread to the big players.
 
♂CANAM productions♂ said:
Samsung just ate shit in the chip fab business and profits were down ~97%. They can go eat shit for the memory oligpoly (with Hynix + Micron) for all I care.
Your daily Zerohedge doomer article about a bank run for small banks (archive):

Does anyone think the gov will bail out the small banks? I don't but rate me optimistic since they might if it thinks it will spread to the big players.
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Legally they have to for anyone under 250k.
 
mindlessobserver said:
You can probably also do Government Bonds too if that is your thing, but the way those are going I dunno man. Plus it means giving my money to the Government to do with. Even if you get a small fee for doing so, its just, ick.
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You only lose your money if the issuer goes bankrupt and usually cities and other governments don't go bankrupt within the span of a few months (the ones that do like Detroit have endless warning signs), so the short-term bonds look pretty safe to me.
Some Dumb Faggot said:
Legally they have to for anyone under 250k.
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And then the 250K limit somehow didn't apply anymore, because god forbid rich people and bankers lose their money.
 
Just got to experience the new 2023 Quarter Dollar coins. My God are they crap. I took out a quarter made in 1970 and handed it and the 2023 quarter to my normie coworkers. They were mixtures of shocked and appalled.

The 2023 quarters are flimsy, and clearly cheap. Especially when compared to a 1970 quarter. They also have noticeably less weight.

Bad sign when the currency is getting debased. What's funny is they are also putting Liberal activist women of history on the 2023 Quarters.
 
mindlessobserver said:
Just got to experience the new 2023 Quarter Dollar coins. My God are they crap. I took out a quarter made in 1970 and handed it and the 2023 quarter to my normie coworkers. They were mixtures of shocked and appalled.

The 2023 quarters are flimsy, and clearly cheap. Especially when compared to a 1970 quarter. They also have noticeably less weight.

Bad sign when the currency is getting debased. What's funny is they are also putting Liberal activist women of history on the 2023 Quarters.
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A lighter Quarter is bad, but keep in mind that a heavier quarter is probably worse. Nickel weighs less than Copper. Copper is what the core of a Quarter is made of. They are increasing the Nickel content of the Quarter to reduce costs, but it could be worse. Zinc is much cheaper and heavier than Copper and is used by the mint in the production of pennies.

A heavier quarter implies an increased presence of Zinc in the core. Count your blessings and thank God we haven't ten there yet.

Edit:Better explanation. Also metal for weight the Liberty dollar is significantly less valuable than a quarter.
 
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Why would it matter if they changed the composition of the quarter? It hasn't been worth much since they took the silver out almost 50 years ago. If you're hoarding quarters for their copper content, you're doing it wrong, get pre-1983 pennies instead (you can literally pick them up off the ground half the time). Roll up your quarters, exchange them for dollars, use dollars to buy PM/crypto/bullets/food/whatever while you still can.
 
Save the Loli said:
Why would it matter if they changed the composition of the quarter? It hasn't been worth much since they took the silver out almost 50 years ago. If you're hoarding quarters for their copper content, you're doing it wrong, get pre-1983 pennies instead (you can literally pick them up off the ground half the time). Roll up your quarters, exchange them for dollars, use dollars to buy PM/crypto/bullets/food/whatever while you still can.
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The composition of coinage has always been a major indication of a governments faith in its own currency. Countries with little faith in their currency tend to mint very cheap coins, as this can simultaneously net them more profit because the coin is worth more then the material and labor to make it and also adjust the coin to its actual value in materials to prevent people just scrapping the coin for its composition.

It makes sense logically, but it's also a bad sign. Let stage Roman Empire coinage was utter trash compared to early Imperial coinage as an example.

In this case it's clear what they have done is use less material. The edge of the coins are still the same size, but the inside is diveted, much thinner then older quarters. They probably wanted to do the same for the outside edge but could not for machining purposes. The coins would not work in vending machines.
 
I own a collection of old money. Old Brazilian currencies mostly but there are some international ones. The lightest coins are always the ones from later runs of highly inflated currencies just before they were changed. The absolute lightest coin in my collection is a 1949 Polish Zloty that is almost light enough to float on water.

So yes I am gonna go with my gut here and say @mindlessobserver is right this is a horrific sign for the economy of the United States.
 
mindlessobserver said:
The composition of coinage has always been a major indication of a governments faith in its own currency. Countries with little faith in their currency tend to mint very cheap coins, as this can simultaneously net them more profit because the coin is worth more then the material and labor to make it and also adjust the coin to its actual value in materials to prevent people just scrapping the coin for its composition.
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That hasnt been the case in decades. coins are just a different form of paper money now. back in history they were made from the metal that backed them.


Also what going on with black stone? they keep on shutting withdraws from their funds and it looks like the biggest ponzi in history.
 
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