Posted on 12/11/2014 11:14:26 AM PST by GilGil
The other thing is those darn 401Ks. Can the gov switch them to annuities?
The ‘gubbermint’ has pretty much reached the point where a phone call and the stroke of a pen can accomplish anything.
Folks, if banks take your money, there will be no money.
What difference would it make if they take it or not?
When these banks go, we’re back to the barter system. That paper you have in your hands, hand it to the bank. It will be worthless.
I’ve read that the FDIC only has about $12 billion to cover the deposits.
The banks will probably be able to repossess your property then.
The banks will burn...
The bankers better keep a low profile too.
I should probably know, but there are some movies along the lines of this topic that I haven’t seen.
The amount of money in 401K’s is staggering. However, the question becomes what happens when the first wave of boomers retire, and SS runs out?
I fully expect there will be a push to seize all that money to pay off current retirees.
Who is Greg Hunter? Do you know?
I can’t find anything on him using Google, other than that he has a blog called USAWatchdog.
At that point....I think it will come down to who wants it more. The one in possession( me ) or the thugs sent by the banker’s tools in government. If the goons are suffering as well with repossession.....then it gets interesting.
Who will do the dirty work?
Whomever does that work, they will be risking their lives and that of their families, as they will be very unpopular as well as severely outnumbered.
I don’t believe the FDIC pays out money in most instances. Banks are sold and the new bank takes on the deposits and debt. People’s accounts remain solvent. I’m not sure if only the $250,000 amount is protected in transfer accounts during the change-over. All funds on account may remain accessible. I don’t know the answer to that from the last big round of bank buy-outs.
If one has enough money to pay off a mortgage, they should do so now. Because if you don’t pay the mortgage, they will take your home too.
I assume that means ‘go to the Mattresses? However, the G20 Summit in Australia was so they could sign this contract with the banks, it’s an international law now. Obama’s Climate Change speech was another one of his distractions.
Zero hedge has several articles on the day “Money Died”...November 16, 2014.
FDIC is backed by the government, and the government can print unlimited money.
non-issue.
the real issue is whether the money will be worth anything.
Many seniors put the money there, because it was secure. Sure, they could make a better return but the money was crucial to their retirement and they didn't want to take chances
So if they change it, the safest place is in the mattress, or a safety deposit box. And if very many go that route, then it becomes a run on the bank.
If your mortgage is paid, your taxes are still due. If the banks take your money and most likely take your employer’s money you will have no job and no income and no money.
That is when it is every man, woman and child for themselves.
The smart ones will be those who work together to defend themselves against thugs, goons, and other scum.
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