Posted on 08/10/2012 11:13:07 PM PDT by STARWISE
so when she says get out, what exactly does she mean? Pull it out in cash and bury it in the backyard? Liquidate your 401 k and pay the tax she says, and then what? Buy a farm? Buy a herd of cattle? What? Keep it in pennies in the garage? Buy cars? What?
Bigger mattress means deeper sheets you know....gotta camo the cash
Good question.
First of all—buy what you want and need now because you cannot count on money you saved and invested being available when you want or need it.
If you live in the city buy that second house in the country.
If you have an expensive hobby indulge yourself—you only live once.
If you want to give money to your heirs or loved ones do it now.
Do not trust any investment advisor—if you lose they are not liable for your losses so f^%& them!
There’s a handful of us Freepers who have been saying this for years now; that the ‘bankster’ and there brought and paid for lackeys in government have completely rigged the system and we have been called names worse than those used on Obama.
These Financial entities are allowed to run multi-million dollar scams and yet when caught NO ONE goes to jail and at worse they pay pennies on the dollars they stole.
I’ve caught flak before and as I said I’ve have been call a communist and worse for saying this, but the corner three card Monte dealer is more honest than most of the ‘Too Big to Fail’ banks and investment houses. And face it the Monte dealer who ‘scams’ a few hundred is a thousand times more likely to go to jail that the ‘banksters’ that are stealing millions.
Liquidate your 401K, buy Gold and Silver and stand over them with an automatic weapon.
Whatever other forms of wealth you have - bring them onto your property, under your direct oversight.
For instance: if you are a farmer, build on-farm storage for your crop. Don’t entrust it to a 3rd party. Grain elevator companies can be as honest as the day, but they can be wiped out by these acts of legalised theft Miss Barnhardt is talking about. In such a situation JPM would get your assets.
I don’t believe this woman is characterizing the result of this matter properly. What the court said is this - Mellon has a right to the collateral Sentinel put for the loan. Sentinel’s crime is all the greater because they put up collateral that wasn’t really theirs. It’s Sentinel’s problem not Mellon’s. And Corzine is as culpable as Sentinel.
Think of it this way. You steal an auto and the title to an auto that’s not really yours and there are no liens. You sell the car and give the title to a third party. Is the third party purchaser going to lose when all comes out? Not if it was a commercial sale, of course he loses if its a sham sale. You remain liable for your crime against the original owner. Mellon sits in the same seat as the person who bought the car. Commerce can figure this one out just as they once figured out how to keep land swindlers form selling the same property two and three times.
I had always thought that if I received stolen property unknowingly that it reverted to the rightful owner when and if the truth came out and that it was tough luck for me. I suppose I could sue the thief for my loss, but the original property owner had first claim.
OK I know I am in need of some coffee but can you explain what this means and how it effects regular people like me........Sorry, my mind is just not taking this in today
That does not work. Whoever bought the hot car gets nothing. Money is gone and car goes back to original owner.
It was the bankers responsbility to due their due diligence and make sure the money is not stolen or improperly obtained. Otherwise money laungering would be simpler then it is.
Anns right.
ping
BFL
How am I supposed to sleep tonight?
isn’t there a record of gold and silver purchases?
Eventually the government MUST come for our savings. Once our debt bomb explodes, the only REAL money left in this country is in private savings (banks, 401k’s, pensions). They will take this money and replace it IOUs.
Why am I so sure - because the ONLY other option that can resolve this problem is to turn Social Security into a welfare program, and the geezers won’t allow that for a second.
There really is no other ending.
Ping
Not necessarily true. You could reach the status of a bonafide purchaser, subject to a few conditions.
Her histrionic, choppy, profane style of writing is just awful...worse than nails on a blackboard. Give me a well-reasoned and coherently structured article and I’ll trust it a lot more.
What about the FDIC insurance? One would still be protected by that.
Ugh! Puppy sitting two reactive maltese dogs for a client...I didn’t get to sleep last night.
I heard something last night though that sort of rattled around in the old sleepy noggin’ of mine.
It was a newscast about the top 5 banks were/are required to provide the government with a collapse plan...and how the government can’t insure or doesn’t have the ability to back the top 5 banks. It didn’t surprise me, but it sort of rollsover with this blurb you posted...that it is not our money if it is not in our hands.
Ah...here it is:
Exclusive: U.S. banks told to make plans for preventing collapse
http://www.reuters.com/article/2012/08/10/us-banks-recoveryplans-idUSBRE87905N20120810
U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.
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