Any thoughts on if this could actually happen? I doubt SIPC would actually cover anything in your accounts if entire brokerages start collapsing...
It's like the FDIC- If our entire banking system collapsed...no one would get their money back. The country would go bankrupt attempting to do that, trust me...no one would get their money if EVERYONE'S "insured up to $100,000" accounts went down the shitter due to a collapse.
So all those people who are people who are going around posting that the system is collapsing, myself included, should follow our own advice and empty our brokerage accounts.
Well considering we no longer track M3 money supply and the fed can print at will..........sure they will pay you back with worthless money. Isn't fiat money supply based on a confidence game.......the confidence the person whom you had a note to believing the said value.
true...why bother worrying about a financial collapse when there is no difference between imaginary and real money in this country anymore. The U.S. doesn't have to worry about a financial collapse as long as theres enough forests around to turn imaginary money into the real thing...
If the entire banking system collapses, it won't matter whether you get your money back or not. The government is always capable of giving you money, that's what fiat currency means. The question is whether you can buy anything with that money. But discussing crises on that scale is no longer a financial question; you're talking science fiction. Martin Edit: sorry about the dup