Is anyone surprised the banks are making money while people are suffering? I guess they knew the energy sector would boom way earlier. I wonder if they predicted the Texas storm.
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I am kicking myself. I was going to go into USO when the future went negative last April or May and didnt like a fool. I figure oil would rebound like a super ball.
Instead I didnt pull the trigger and missed a great opportunity. I wont even look at the chart. LOL
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I didn't pull the trigger either on Oil and I personally thought the energy sector would drop. However I didn't expect the entire debacle about Texas and the destruction of the key-stone pipeline to increase the prices so much.
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No I didnt either but the rise was in place before either of those events.
With Biden in office doing all he can to kill the economy, the price of oil going through the roof will do just that.
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Opportunities come and go ... I know what that feeling is like, but luckily we will always have our doors open.
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Don't fill sorry, crypto is better. :)
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Always hahaha ... but I see it as a good strategy to diversify your investments and maybe in the middle of the year I can start to see other sources of income outside the cryptoverse.
The results and gains have no comparison with what we profit here, but it is good to have something out there.
But I can see in the future that people can live with only cryptocurrencies.
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Tokenization is going to give us a lot of opportunities.
I agree there will be a time, not too far in the future (say 5 years), where a lot of people live solely on crypto.
Plus by then, the early adopters will likely have amassed enormous wealth.
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I also believe and hope for that day to come!
I really want to take that trip to the space hotel LOL
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6 years, according to Gateway's time line.
Will you have enough money in crypto then for the trip. I am sure it is going to cost a pretty penny to spend a few nights there.
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Yes, it's true, I understand that compared to the last 5 years. Remember how much was BTC, ETH or even XRP? Yes, they were worth much less and many who believed and held on became very wealthy today.
Who knows, this moment in which we live may be our turn to do so. 5 years from now if I don't achieve my financial independence, but at least I will be close to achieving it.
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Well it was out o a retirement account which cant get into crypto, other than GBTC which I have a fair bit of.
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Good old government to the rescue! I guess that's ok in this situation, of course, the banks found a way to make hundreds of millions!
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Correction: billions.
You are short-changing the bankers.
As for the basic idea, privatize profits and socialize losses.
It is now the American way.
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and people say americans hate socialism :)))
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Well they do hate bankers too so I guess they go hand in hand.
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hating bankers and loving loans, that's an unhealthy relationship if I ever saw one :))
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Actually for most people, their loans originate outside the traditional banking system.
The three biggest personal loans are mortgage, car and credit card.
More than half the mortgages are through FinTech, most car companies have their own financing arm and most credit card companies are on their own (years ago many were backed by GE..not sure these days).
In the US, what is called the "shadow banking" system is huge.
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you guys are pretty strange I must admit, in Europe if you want a loan you work with a bank, simple as that
I forgot about that rule for the banksters, they are so sneaky when it comes to that!
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Yea. The government only needs to give the banks more money while making the citizens of Texas pay ridiculous energy bills. They didn't even use those funds to ensure people got a fair price but the marked up price.
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Banks have always been like that, they never think about losing and in fact we are the losers.
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Yep. They even have no problem dipping into people's accounts.
They are good for that at times here in the states.
I dont know how anyone still uses Wells Fargo.
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Perhaps it is because of ignorance and that is why they still use it.
People get so used to even little that they don't care or bother about it.
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No, I'm not surprised. This is going on for years, for as long as I know, why would it be different now with this occasion?
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