The Rokslide Stock Traders Thread

[BBob]

They're getting worried. Got em on the ropes now

Biden Approves Controversial Alaska Oil Drilling Project—Here’s What You Need To Know

Climate change activists have staunchly opposed the multibillion-dollar Willow project, which Al Gore slammed as “recklessly irresponsible.”

www.forbes.com

Biden Interior approves controversial Alaska oil drilling project

The $8 billion Willow project in Alaska, led by the state's largest crude oil producer, would produce about 600 million barrels of oil over 30 years.

www.cnbc.com

 

[Broomd]

They're getting worried. Got em on the ropes now

Biden Approves Controversial Alaska Oil Drilling Project—Here’s What You Need To Know

Climate change activists have staunchly opposed the multibillion-dollar Willow project, which Al Gore slammed as “recklessly irresponsible.”

www.forbes.com

Biden Interior approves controversial Alaska oil drilling project

The $8 billion Willow project in Alaska, led by the state's largest crude oil producer, would produce about 600 million barrels of oil over 30 years.

www.cnbc.com

It just goes to show the complete whores these politicians really are.
'Pivoting to the center' for election's sake....

 

[aftriathlete]

I’m not buying anything today. I literally have no idea what tomorrows CPI print is gonna do, I can’t even guess. Last week a hot CPI meant the market goes down, but now this weekend changes everything. Gas prices were also down for the majority of the month of Feb, although they’re back up now, so there’s a decent chance it won’t come in “hot” (as if just hitting the 6+ percent expectation is a good thing.) And then what if a “cool” print?

I see some expectations are for 5.5% YoY, and some are calling for hotter than last months print which was 6.4% I think. So it’s anybody’s guess.

 

[MountainTracker]

I went to the bank today to pull some cash, the manager asked me some questions and I responded with “you do know what’s going on right?” He says yes and we are all good. I say well if nothing happens then nothing lost, but if something does happen I’ll be ahead of everyone.

The guy looks like he was probably in diapers in 2008 so he may not remember what happened. Oh and I wasn’t the only guy pulling cash, there was another guy there before me pulling way more than me

Maybe I’m being way too cautious but I don’t see this going well in the long run
When the president says it’s all good, im doing the opposite.

Oh and I bought some btc on Sunday before the run. I may buy some more here soon.


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[svivian]

I went to the bank today to pull some cash, the manager asked me some questions and I responded with “you do know what’s going on right?” He says yes and we are all good. I say well if nothing happens then nothing lost, but if something does happen I’ll be ahead of everyone.

The guy looks like he was probably in diapers in 2008 so he may not remember what happened. Oh and I wasn’t the only guy pulling cash, there was another guy there before me pulling way more than me

Maybe I’m being way too cautious but I don’t see this going well in the long run
When the president says it’s all good, im doing the opposite.

Oh and I bought some btc on Sunday before the run. I may buy some more here soon.


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For those banks who were not leveraged properly folks pulling funds out of the bank will only compound the problem.

 

[Thinkingman]

Why are people pulling out cash unless it is to buy physical gold coin in hand?
Spot Gold is only up 2.5% in the last 30 days.
If the financial world is melting down, gold would be skyrocketing.
Prove me wrong.

 

[BBob]

Oh and I bought some btc on Sunday before the run. I may buy some more here soon.

BTC has a head-wall ahead of it starting @~255000. Likely to be some resistance there and turbulence upwards. Let's see if it can break that mark and sustain it.

 

[zeroed]

That sounds about right for the last 30 days. But on 3/7 gold was $1822 and now it’s $1920. That’s a 5.4% rise in the last 6 days, during which time all of this banking chaos occurred.

But I still don’t think this is a widespread financial meltdown.

 

[z987k]

I went to the bank today to pull some cash, the manager asked me some questions and I responded with “you do know what’s going on right?” He says yes and we are all good. I say well if nothing happens then nothing lost, but if something does happen I’ll be ahead of everyone.

The guy looks like he was probably in diapers in 2008 so he may not remember what happened. Oh and I wasn’t the only guy pulling cash, there was another guy there before me pulling way more than me

Maybe I’m being way too cautious but I don’t see this going well in the long run
When the president says it’s all good, im doing the opposite.

Oh and I bought some btc on Sunday before the run. I may buy some more here soon.


Sent from my iPhone using Tapatalk

Maybe you have more than 250k in one bank? Or are you saying you don't even trust the FDIC?

 

[Broomd]

For those banks who were not leveraged properly folks pulling funds out of the bank will only compound the problem.

Yep, my mom called me today all worried and asked me if she should pull out all of her savings, I told her to watch the movie "it's a Wonderful Life,' banks simply can't afford every bank customer pulling her funds out all at once, they don't have it. The money is spread everywhere.
In the end things will be fine, and the last thing we need is total meltdown and panic.

 

[Broomd]

That sounds about right for the last 30 days. But on 3/7 gold was $1822 and now it’s $1920. That’s a 5.4% rise in the last 6 days, during which time all of this banking chaos occurred.

But I still don’t think this is a widespread financial meltdown.

Gold overall has been a poor investment over the last few years. It's fluctuated between about $1650 and $1935 with very little predictability.

 

[pirogue]

Didn’t know there were so many Rocksliders (and with relatives) that had more than $250K in one bank.

 

[svivian]

Didn’t know there were so many Rocksliders (and with relatives) that had more than $250K in one bank.

Sheep hunts aren’t free….. gotta save for something

 

[String&stick]

Didn’t know there were so many Rocksliders (and with relatives) that had more than $250K in one bank.

For your average Joe (ie not a giant corporation). You can do some easy things to have well in excess of $250,000 of insured funds in one bank. The fact that we are covering corporate stupidity, with funds from other banks is insane. Sure the tax payers don't have to pay for it. Just the banks the tax payers use, so guess how that's gonna translate down to the customer!

 

[sasquatch]

Nothing like a panicking herd of sheep to actually cause what they scared of.

Covid toilet paper anyone??


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[z987k]

Didn’t know there were so many Rocksliders (and with relatives) that had more than $250K in one bank.

Kind of dumbfounded at that to. I can't come up with any reason to long term hold over 250k in personal money in an insured account at one bank.

 

[safarihunter]

For your average Joe (ie not a giant corporation). You can do some easy things to have well in excess of $250,000 of insured funds in one bank. The fact that we are covering corporate stupidity, with funds from other banks is insane. Sure the tax payers don't have to pay for it. Just the banks the tax payers use, so guess how that's gonna translate down to the customer!

Am I misreading this, or are you saying it's easy to accumulate more than $250k in the bank?

 

[MountainTracker]

BTC has a head-wall ahead of it starting @~255000. Likely to be some resistance there and turbulence upwards. Let's see if it can break that mark and sustain it.

Broke the $25500 ceiling, next is in the $28k, will it hold idk


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[Crowmangler]

If nothing else good comes from this SVB debacle, I think a lot of people will at least start asking questions and thinking about the safety of their savings and maybe develop a strategy to protect it.
I know very little about banking, etc. but I damn sure started asking questions & I would encourage everyone else to do the same.
A few things I learned over the past few days:
Credit unions are a little different (obviously) than banks because they are owned by the members. They don't fall under the FDIC umbrella but instead NCUA, which is still backed by the US government up to $250k.

Every bank / CU will tell you up front "Oh you have nothing to worry about because we blah, blah blah" I'm sure that's what everyone thinks right before they collapse in less than 48 hours.

Confirm how much of your money is guaranteed & is it limited by account, by SSN, by entity, by title, etc.? How are trusts treated specifically? Look on the gov't websites & confirm.

It's amazing how few people you call can give you a direct, absolute honest straight forward answer.

I was told by the banks & CU that you are only covered up to $250k total for ALL of your accounts, not each one individually.
Joint accounts are treated separately & fall under another $250k umbrella. For example, if you have 3 kids you can open 3 joint accounts with each child & they would have $250k coverage also.

Brokerage accounts are different also because they fall under SPIC, not FDIC & was told they're guaranteed between $500k & $1.1 million.

Don't listen to me cause I don't know the answers but find out for yourself & do what you think is right for you.

 

[String&stick]

Am I misreading this, or are you saying it's easy to accumulate more than $250k in the bank?

No I'm staying that if you have over $250,000 it is easy to keep it in 1 bank and still have it covered by FDIC insurance if you are a normal person.

It is much harder to keep it covered if you are a corporation.

If you are a married couple it is easy to have FDIC insurance covering 1,000,000 in funds. Of course it's difficult to accumulate that much.