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2023-05-09 Economy

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Posted by badanov 2023-05-09 00:00|| || Front Page|| [15 views ] Top

#1 Easy-peasy. Just go to treasurydirect dot com and set up an account. When you compare the yield on a T-bill with your passbook savings or checking account, you'll be disgusted.

And ever wonder why your bank's CD rates are lower than US treasuries? Because they are offering, say, 4%, and using that same money to get, say, 5% from a T-Bill. Easy-peasy for the banks to make money.

How many years now have the banks gotten away with offering virtually zero interest on our money? And then many banks bought 10- or 30-year T-Bonds at barely 1% over a year ago, now all of those bonds are under water, often "held to maturity" on their balance sheets. But when a bank needs money in a hurry (Silvergate, Silicon Valley), they then have to sell these bonds on the open market for a loss. Ouch.

Posted by DooDahMan 2023-05-09 00:24|| 2023-05-09 00:24|| Front Page Top

#2 /\ I have no mercy for the thiev'n bastids.

Posted by Besoeker 2023-05-09 01:17|| 2023-05-09 01:17|| Front Page Top

#3 PacWest Shares Jump After Dividend Cut to Shore Up California Bank’s Finances

Posted by Frank G 2023-05-09 06:16|| 2023-05-09 06:16|| Front Page Top

#4 ^^^ Silvergate eliminated their dividend from Preferred stock not long before it went to $1. Sure, a big difference from common stock, but it was a bad sign. But how that thing in La Jolla is still trading is a mystery as regulators were all over that place before Signature and Silicon Valley banks made the news.

Posted by DooDahMan 2023-05-09 07:48|| 2023-05-09 07:48|| Front Page Top

#5 Coming soon to your location.

US Federal Government Ran and Operated Banks

Posted by NN2N1 2023-05-09 08:05|| 2023-05-09 08:05|| Front Page Top

#6 Just go to treasurydirect dot com

TreasuryDirect.gov

Posted by Skidmark 2023-05-09 08:56|| 2023-05-09 08:56|| Front Page Top

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