ping.
Bank deposits have never been considered money. They are an asset to you and a liability on the banks balance sheet. When a bank goes belly up, the ONLY thing protecting you is FDIC insurance.
If you think your money is yours in a bank, go back to a high school economics class—or watch it’s a wonderful life.
That might be what they want, but that isn't what they will get. People will take their money out of the matrix entirely, or put it in the stock market to get some return.
Spot gold has jumped up $40 in the last 12 hours. HHHHMMMMMMM...
IOW, they're gearing up to pop the fiat-money bubble and laugh at you when you expect the FICA insurance to kick in… I'm reminded of this:
(Gen 47:13-26)The priests in our American tale are the bankers, who have saved for themselves lands and monies; the Pharaoh/Joseph is the political elite… and they do not have our interest at heart at all.
Now there was no food in all the land, for the famine was very severe. The land of Egypt and the land of Canaan languished because of the famine. Joseph collected all the money to be found in the land of Egypt and in the land of Canaan, in exchange for the grain that they bought; and Joseph brought the money into Pharaoh’s house. When the money from the land of Egypt and from the land of Canaan was spent, all the Egyptians came to Joseph, and said, “Give us food! Why should we die before your eyes? For our money is gone.” And Joseph answered, “Give me your livestock, and I will give you food in exchange for your livestock, if your money is gone.” So they brought their livestock to Joseph; and Joseph gave them food in exchange for the horses, the flocks, the herds, and the donkeys. That year he supplied them with food in exchange for all their livestock. When that year was ended, they came to him the following year, and said to him, “We cannot hide from my lord that our money is all spent; and the herds of cattle are my lord’s. There is nothing left in the sight of my lord but our bodies and our lands. Shall we die before your eyes, both we and our land? Buy us and our land in exchange for food. We with our land will become slaves to Pharaoh; just give us seed, so that we may live and not die, and that the land may not become desolate.”
So Joseph bought all the land of Egypt for Pharaoh. All the Egyptians sold their fields, because the famine was severe upon them; and the land became Pharaoh’s. As for the people, he made slaves of them from one end of Egypt to the other. Only the land of the priests he did not buy; for the priests had a fixed allowance from Pharaoh, and lived on the allowance that Pharaoh gave them; therefore they did not sell their land. Then Joseph said to the people, “Now that I have this day bought you and your land for Pharaoh, here is seed for you; sow the land. And at the harvests you shall give one-fifth to Pharaoh, and four-fifths shall be your own, as seed for the field and as food for yourselves and your households, and as food for your little ones.” They said, “You have saved our lives; may it please my lord, we will be slaves to Pharaoh.” So Joseph made it a statute concerning the land of Egypt, and it stands to this day, that Pharaoh should have the fifth. The land of the priests alone did not become Pharaoh’s.
If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a “bank run.”
Read more
http://www.zerohedge.com/news/2014-11-12/russell-napier-declares-november-16-2014-day-money-dies
Fiat money musical chairs..
Givernment inspired legal counterfeiting..
I heard that FDIC insurance is only worth up to 30 trillion dollars or so but there are over 70 trillion in unfunded liabilities so when this thing implodes we ain’t gettin our money.
Traitor Alexander Hamilton wrongly ignored that his fellow delegates to the Constitutional Convention had dropped the idea of delegating banking powers to Congress when Hamilton pulled the wool over President Washington’s eyes to sign the bill to establish the First Bank of the United States.
The federal Federal Reserve was also wrongly established without the required consent of the Constitution’s Article V state majority imo.
And the major constitutional problem with the corrupt federal government trying to use its constitutional power to negotiate treaties to force US citizens to comply with foreign laws based on powers which the states have never delegated to the feds, banking powers in this case, is the following.
Thomas Jefferson, undoubtedly based on his experience as vice president, and therefore president of the Senate, had clarified, along with the Supreme Court, that federal treaty power cannot be used as a back door to expand the federal government’s powers.
“In giving to the President and Senate a power to make treaties, the Constitution meant only to authorize them to carry into effect, by way of treaty, any powers they might constitutionally exercise.” —Thomas Jefferson: The Anas, 1793.
“Surely the President and Senate cannot do by treaty what the whole government is interdicted from doing in any way.” — Thomas Jefferson: Parliamentary Manual, 1812 .
“2. Insofar as Art. 2(11) of the Uniform Code of Military Justice provides for the military trial of civilian dependents accompanying the armed forces in foreign countries, it cannot be sustained as legislation which is “necessary and proper” to carry out obligations of the United States under international agreements made with those countries, since no agreement with a foreign nation can confer on Congress or any other branch of the Government power which is free from the restraints of the Constitution [emphasis added].” — Reid v. Covert, 1956 .
The Revolutionary War, IIRC, was fought over a measly 1% tax.
This sounds ominous...
Article is 100% Crock-O-Shite.
I cannot find anything in the posted G20 documents that meets the description.
The old saying, “failure to plan is a plan for failure.”
Now the G20 is planning to cover their upcoming failure. Thus ensuring a failure now that their bailout funds are secured.
Planning to fail is a plan to fail.
Aren’t headlines like this one supposed to include the notice that the posting is a satire?
If it’s not a satire and Obama agreed to such crap, the turmoil in the US will grow even worse than it already is!
666
So just cash those checks instead of depositing them?
Don’t American banks already consider deposits as liabilities?
I thought that has always been the case.
When loaned, the loan is an asset
