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Wheee - biggest banks get their credit rating dropped

squerly

Supported Ben Carson
GOLD Site Supporter
Morgan Stanley (MS), Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM) and Bank of New York Mellon Corp.

How many other banks are subsidiaries of these guys and therefore subject to failure if one of the parent banks goes down?
 

300 H and H

Bronze Member
GOLD Site Supporter
And what about the overseas derrivaties liability? My bet is that those will be covered by you and me and the FDIC, that will be broke if the banks mentioned go south. All of these banks are exposed in the derivatives market. Wonder were BOA is, and why they are not here on the list.....

Regards, Kirk
 

Kane

New member
With great pomp and circumstance, Congress passed Dodd-Frank laws supposedly designed to break the banks apart so that they are no longer "too big to fail".

Well, children, after five years of careful Congressional oversight, the same handful of Big Banks are now 30% larger than they were in 2008, and now control over 50% of all Amerikan treasure.

WTF? The next banking calamity will make the Great Recession look like a minor market correction. Woe is us.










Got gold?
.
 

squerly

Supported Ben Carson
GOLD Site Supporter
Maybe better for barter than as a hedge given that the value becomes the value of the worthless paper once you trade it back in for paper money.

As for barter I agree it would be valuable, but then probably in smaller denominations rather than large. i.e. a gold eagle is approx $1,300.00 and when the shtf it might be 3-4 times that. But what can you barter with a coin that large?

Still, better to have it than to have the paper equivalent.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
Maybe better for barter than as a hedge given that the value becomes the value of the worthless paper once you trade it back in for paper money.

As for barter I agree it would be valuable, but then probably in smaller denominations rather than large.
That's what silver is for.
 
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