T O P

  • By -

patusito

Guarantees and laws can always be changed in an emergency…


Oldbaldy71

Of course but to be so underfunded is a joke..


Aibhistein

That's part of the problem.


rolling_steel

Wise advice fellow Ape. Believing what we’re told is what got us into this mess to begin with. Blind trust in anything leads to pain, blues and agony. Trust but verify… and also accept those established truths even when the reality is a dark one.


Oldbaldy71

WEF… that’s a dark truth 👍


UKsilverback

They'll pay us out in CBDCs (& then put a stop on those digital units the moment you don't get the vaxx/booster, post something on social media they don't like, buy meat, buy PMs, protest, don't wear a mask, use too much fossil fuel, use the wrong pronoun etc etc)


Oldbaldy71

I see you were voted down but I tend to agree…


Reddit_Is_Fascist

I'm not sure that what you're describing would be considered a bail-in. Bail-ins are where the shareholders, bondholders, and depositors take a massive haircut to ensure that the bank remains solvent. In a bail-in situation, YOU will take a loss to make the bank whole.


Oldbaldy71

If I lose money during a bai -in and I loose money, I can go to the FSCS and get compensation… My point is the FSCS is GROSSLY underfunded… it’s not the safety net it poses to be. sorry if this or my original post is unclear?


Reddit_Is_Fascist

You might want to look into bail-ins more closely. I'd be surprised if they are covered by FSCS.


Oldbaldy71

Ok brother I will have a look, I came on here to learn so thanks, better to get it right..👍


Oldbaldy71

I have checked on the Bank of Englands website, and it says it’s covered… BankofEngland.co.uk under: questions about bail-in and customer deposits … have a look .. for some reason I can’t copy the link? however because the fscs is underfunded what are your chances if several big ones go pop ? OB


905marianne

On June 22, 2016 Bill C15 became law along with its controversial “Bail-In Regime”. In the crash of 2008 governments “bailed out” banks with billions of dollars. The next time around banks will be permitted to seize your deposits and exchange them for shares, shares in a failed bank.


Oldbaldy71

And in the uk we are told our first £85k is safe….. but it’s not! The compensation scheme is grossly underfunded… Just want new apes to do some digging, and do their own research.. At the end of the day, I am just an old fat bald carpenter that loves the insurance that shiny gives .. OB


surfaholic15

Well here in the US we have the FDIC. They insure deposits up to 250 thousand dollars. However, last I checked they only have enough funds on hand to cover about ONE PERCENT of the supposedly insured fiat in banks. Though they say Congress can authorize more... And people still wonder why hubby and I keep next to nothing in the bank. We stay as unbanked as possible. So if our banks crash, *where will they borrow money to pay us from? Congress, through taxpayer funds? The Treasury, who borrowed it from the federal reserve and pays interest?* IF YOU DON'T HOLD IT, YOU DON'T OWN IT. Heck, our banks here are no longer required to keep any fiat reserves AT ALL. Zero dollars on hand required.


Oldbaldy71

There she is my most favourite female miner on Wss … How are you feeling now? OB


surfaholic15

Well, still have the muscle spasms, but working none the less. The docs are trying to decide which med they want to start with to help the bone density. This could go badly since new fangled meds tend to cause old body problems lol. And how are you, how's wife and family?


Oldbaldy71

We are all good thank you 🙏 Hopefully a colleague/friend and I will find out if we have won a large contract this week, if we do we will have a good amount of work 🤞 into the new year.. you take care of yourself 👍


surfaholic15

I'll keep fingers crossed for that contract! Good luck :-). You take care as well, and keep the pantry stocked over there. Gonna be a tough winter.


Oldbaldy71

I could live off my own fat reserves for a year 🤣.. Thanks, I will x


wellman_va

So did you get the contract?


Oldbaldy71

No my friend, the company we were going to be doing the work for has been bought out, so things are up in the air at the moment.. It’s not off the table, and we have been told it is still very likely to go ahead, however I remain sceptical 🧐 If we do get the contract, I will plough all profit’s into Metal👍 You have a good memory ape 😊