Message from @Freiheit - CA
Discord ID: 550537395943243777
>Moreover, if needed, the FDIC has longstanding lines of credit with the Treasury Department. Congress, understanding the need to ensure that working capital is available to the FDIC to provide bridge funding between the time a bank fails and when its assets are sold, provided broad authority for us to borrow from Treasury's Federal Financing Bank. If necessary, we can potentially raise very large sums of working capital, which would be paid back as the FDIC liquidates assets of failed banks. As per our authorizing statute, any money we might borrow from the Treasury must be paid back from industry assessments. Only once in the FDIC's history have we had to borrow from the Treasury – in the early 1990s – and that money was paid back with interest in less than two years.
So two takeaways, one major and one minor. The major one is that FDIC can't fail because it will just borrow from the Treasury. The minor one is "lol" because the treasury means the public finances, so yes it'll be taxpayer funded.
Well that's absolutely tragic. So though the bankers may not want the headache of people pulling their $, and will try to stop it prematurely- in the end they don't suffer. Great
"The system" has entire industries dedicated to finding possible holes in it, which allows them to
be patched them up well in advance.
can you count paying the principal on a business loan as a deduction? for some reason i think the answer is no, since you didn't count it as income.
@ae <@&322715617138311171> @Ben - OH @ophiuchus ^
What do you guys know about Think or Swim app? It’s like where you trade with fake currency and it mirrors the stock market so you see how your strategies work. Do any of you mess around with that?
I did some of that when I was younger. You can start a fictitious Yahoo Finance account as well and do something similar.
Do you have a trading account and you’re looking towards future holdings and strategy, or are you looking to mimic a more technical investment method?
I haven’t started trading yet. I have a trading account with E*TRADE but I haven’t put any money in it yet
@Myndrian I have ToS and yes it is great to get a feel for stock/options/futures trading, it's basically the best simulator out there, you can even go back in time and try to figure out what you would have done in the past, seeing the stock market move tick by tick. ToS is pretty much the best trading software you can get without paying for it.
(ToS has a few modes, some for paper trading and some for real trading)
It also has a pretty good mobile app that you can do the papertrading on too called "trader"
@Will - MD no you cannot
What are some thoughts on investing into CBD/hemp companies? There's room for growth so it potentially could be a good investment
@Auf WI last time I looked into it was last fall. everyone I knew who had invested in them said "wait before investing in it again" I don't know if they would say the wait is over or not.
Interesting stuff companies standing up to visa