US Banking system remains "sound and resilient"

A direct quote from the minutes of the March 2023 Federal Reserve Open Market Committee meeting is:

Participants agreed that the US banking system remained sound and resilient.

Does this give you a warm and fuzzy feeling? Is the above quote the new "inflation is transitory" meme? I humbly ask this esteemed group for its insightes.

Thank you in advance for the well thought-out, civilized and insightful discussion that I'm sure will ensue.

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masterofyou · 70-79, M

Hahaha,,,, would you believe we might be heading for depression?? Really, it's not funny, just go out and buy gold and silver....

whowasthatmaskedman · 70-79, M

@masterofyou WAYYY too late for that. The gold price is through the roof and real estate is also getting overpriced again. But the Banking system has been piumped so full of the financial equivalent of steroids (printed money and super low interest rates) it will have been dead a week before it falls over.😷

masterofyou · 70-79, M

@whowasthatmaskedman Maybe, both have a way to go if you buy numismatic coins of value. Silver will go higher because of its scarcity. But paper money will be worthless as they have printed so much in the last 10 years.... Get your wheelbarrow ready when you go to the grocery store....

whowasthatmaskedman · 70-79, M

@masterofyou We absolutely agree. But of course so many people hardly use cash any more..😷

masterofyou · 70-79, M

@whowasthatmaskedman true as i use my card and i pay it off every month... The thing is the government wants to control your card and tell you what you can buy,when, and where you buy...

Just another freedom taken way... Don't laugh just look around and see what is happening here...

whowasthatmaskedman · 70-79, M

@masterofyou I dont see the govt as quite that draconian. Whoever, they can stop you bargaining with cash for a better deal and thats a good enough reason not to let it happen. I have my own reasons.😷

masterofyou · 70-79, M

@whowasthatmaskedman Good luck to you.....