[quote]on edge wrote:
rainjack wrote:
on edge wrote:
rainjack wrote:
on edge wrote:
I respect that you called the Monday, although I’m sure just looking at the futures was all one needed to do to make that call. Regarding this “Bank Holliday” it doesn’t sound very plausible.
The critical problem right now is that the cash flow is freezing up. Closing the banks would slow things down even more and would be counter productive. Also, at this point, the last thing they would want to do is start a run on the banks.
I do agree with you about the brokerage point. Rainjack and the others are quite naive to believe that a broker would never steal assets. If things get bad enough people will do some very bad things. If it gets to that point it will be so chaotic there won’t be much one can do about it.
What are you going to do? Call the police? File a law suit? Good luck with all that when it’s happening to everyone and all hell is breaking loose.
I am not naive. I trade on line, and I know exactly what my broker can and can’t do.
If it gets so bad that I don’t trust my brokerage firm to do what they are paid to do, I will exit the market. If youa re dealing with a company you don’t trust, that is your own folly. Don’t assume that everyone who invests on line goes for the firm with the cheapest per trade charge.
I am curious who you use that you have so little faith in them.
I never picked you for a fear monger, on edge. I am quite disappointed.
I’m not making any type of prediction or anything. I’m just saying if all hell does break loose people will do some desperate things. I use Charles Schwab, btw.
Do you trust them?
I think they are reputable but who knows what one individual who works for them might do. Remember a few years ago a “rouge trader” took down that British bank all by himself?[/quote]
My brokerage firm is member owned. No one works on commissions - it’s all straight salary.
In fact I just received an email today reminding us that we own the firm, and that all of our stock is in our name.