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MDawg
MDawg
Joined: Sep 27, 2018
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March 18th, 2023 at 8:48:10 AM permalink
Quote: MDawg

One of the banks where I keep funds offered to me today the opportunity to put funds in what they call a "vault" which spreads the funds among 12 banks, increasing the FDIC insurance to $3M.

This sweep network provides up to $3M in FDIC insurance by automatically spreading your deposits across up to 12 different banks, without requiring you to open and manage separate bank accounts.


Clearly banks are trying to come up with something to ease bank failure concerns.
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Weíve continuously worked with our partner banks to offer additional FDIC insurance ó first to $1M, then to $3M.

Now, weíve gone a step further. By Monday, you will have access to up to $5M in FDIC insurance ó 20x the per bank limit.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 231
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March 18th, 2023 at 11:07:09 AM permalink
Quote: MDawg

Quote: MDawg

One of the banks where I keep funds offered to me today the opportunity to put funds in what they call a "vault" which spreads the funds among 12 banks, increasing the FDIC insurance to $3M.

This sweep network provides up to $3M in FDIC insurance by automatically spreading your deposits across up to 12 different banks, without requiring you to open and manage separate bank accounts.


Clearly banks are trying to come up with something to ease bank failure concerns.
link to original post



Weíve continuously worked with our partner banks to offer additional FDIC insurance ó first to $1M, then to $3M.

Now, weíve gone a step further. By Monday, you will have access to up to $5M in FDIC insurance ó 20x the per bank limit.

link to original post



That isn't something new. Occasionally I'll be over 250K in cash at Fidelity or Personal Capital and they spread the accounts once you hit 240K
The difference between fiction and reality is that fiction is supposed to make sense.
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 35
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March 19th, 2023 at 3:18:58 PM permalink
If it's just a normal sweep of your IRA it doesn't increase FDIC insurance over 250K, or SIPC insurance over 500K

https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/fdic.pdf

Some sweeps result in increased insurance, others do not.
https://www.fdic.gov/news/financial-institution-letters/2009/fil09039a.html
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 35
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March 19th, 2023 at 3:19:19 PM permalink
Meantime, BTC jumps over 28K. 😃
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
DRich
DRich
Joined: Jul 6, 2012
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March 19th, 2023 at 3:24:33 PM permalink
Quote: MDawg

Meantime, BTC jumps over 28K. 😃
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As long as the Fed continues to raise rates it will continue to go up. Of course, it is likely this weeks increase will be the last for a while.
Order from chaos
Ace2
Ace2
Joined: Oct 2, 2017
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March 19th, 2023 at 4:20:16 PM permalink
The ďexpertsĒ have continually underestimated rate hikes over the past year.

We have a looong way to go to get back down to 2% core inflation and Powell keeps stating they will do whatever is necessary, even saying heíd rather raise rates too much than too little

Donít be surprised if rates go significantly higher and stay there significantly longer than the general consensus, which hasnít been correct yet
Itís all about making that GTA
MDawg
MDawg
Joined: Sep 27, 2018
  • Threads: 35
  • Posts: 5778
March 22nd, 2023 at 4:57:04 PM permalink
Getting spammed heavily today with these Phishing attempts. Received about a dozen of these so far, some with attachments some without, all of which I reported to Spam Cop. They do not come from Gemini - they are actually coming from a Hotmail email 😅 but they were clever enough to send them to my one email that is actually attached to a legitimate Gemini account.





New contract: Purchase of BTC from new device needs confirmation.

Contract cancelled: Completion of services
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/

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