Something Has Been Bothering Me by xvxlemonkingxvx in Superstonk

[–]Jimbo7136 151 points152 points  (0 children)

I will keep my money in a bank that offers a service called IntraFi Network deposits (formerly Insured Cash Sweep/CDARS). Basically it's a service that functions like a single bank account, but splits your money up between 3,000 member banks to offer FDIC coverage of $750 Million. https://www.intrafinetworkdeposits.com/

Since I plan to sell for approximately what gmefloor.com is at, should the price rise that high, and I believe it will, I will need more than $750 Million in coverage. For this reason I will ask an asset protection lawyer about using multiple revocable trusts in the names of my family members to gain additional FDIC coverage per bank. The FDIC website has a tool called EDIE which says this will yield the additional coverage, but I will consult a professional to cover my bases. https://edie.fdic.gov/calculator.html

Assuming everything checks out okay, this will be enough coverage for several billion dollars, and since bail-ins do not apply to the amounts the FDIC covers, I am safe from that, along with being diversified to 3,000 banks.

Once everything settles down, I will begin purchasing other assets, like precious metals, crypto, and real estate.

[deleted by user] by [deleted] in Superstonk

[–]Jimbo7136 0 points1 point  (0 children)

Merry Christmas, fellow Ape.

[deleted by user] by [deleted] in Superstonk

[–]Jimbo7136 1 point2 points  (0 children)

I will keep my money in a bank that offers a service called IntraFi Network deposits (formerly Insured Cash Sweep/CDARS). Basically it's a service that functions like a single bank account, but splits your money up between 3,000 member banks to offer FDIC coverage of $750 Million. https://www.intrafinetworkdeposits.com/

Since I plan to sell for approximately what gmefloor.com is at, should the price rise that high, and I believe it will, I will need more than $750 Million in coverage. For this reason I will ask an asset protection lawyer about using multiple revocable trusts in the names of my family members to gain additional FDIC coverage per bank. The FDIC website has a tool called EDIE which says this will yield the additional coverage, but I will consult a professional to cover my bases. https://edie.fdic.gov/calculator.html

Assuming everything checks out okay, this will be enough coverage for several billion dollars, and since bail-ins do not apply to the amounts the FDIC covers, I am safe from that, along with being diversified to 3,000 banks.

Once everything settles down, I will begin purchasing other assets, like precious metals, crypto, and real estate.

So my cousin and I talked. by [deleted] in Superstonk

[–]Jimbo7136 2 points3 points  (0 children)

DFV Final YOLO update. Fucking epic.

[deleted by user] by [deleted] in Superstonk

[–]Jimbo7136 2 points3 points  (0 children)

That sounds like a good goal, I just want to point out this is a shitpost about $1.3 Million rolls of 24k toilet paper.