Posted on 12/24/2014 3:11:54 PM PST by dontreadthis
The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed.
At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that money if a banking crisis takes down the bank.
The spending bill just passed by congress makes the American taxpayer responsible for any derivatives loses that banks may suffer. These derivative holders now have first priority when any funds are paid out and depositors are relegated to last place. FDIC insurance will have to pay out these funds but it has no where near enough money to pay the more than 300 trillion in losses that will be suffered in a banking crisis. That means any depositor has little hope of getting anything back. In order for depositors to get anything back massive money printing would have to take place making any payout amount to only pennies on the dollar.
(Excerpt) Read more at zerohedge.com ...
You just keep your money in BOA then.
Into my Gun Safe along side physical gold and silver. Cash in my safe is better than a bank that pays zero interest. At least I know it is there.
The problem is that most employers do direct deposit. I guess that means they can take your paycheck.
She’s just ahead of the curve by a year or two. She’ll be accustomed to dire straits when the rest of us are just getting our first taste.
ou exchange your hard currency for electronic-only bitcoin, then. My money is not in BOA. It’s in a credit union with a high NCUA score as far as assets, liabilities and financial strength, and it’s in foreign currency-denominated CD’s to diversify dollar risk.
Like Ann Barnhardt said, if it's not something you can stand in front of with an assault rifle and defend, you don't really own it.
You do what you deem best or feel led to do, just as she has done. It’s your conscience and your money, and your consequence to bear if it doesn’t quite work out the way you’d envisioned. I will say this: an unofficial electronic-only “currency” that can be shut off on a whim by authorities does not strike me as being the place to go in a severe financial crisis. If you’re that leery of currency then go to assets that are easily sold when ready cash is necessary.
You can stand in front of bitcoin with a weapon and defend it, lol? Barnhardt can be a little off the rails at times, careful there.
I don’t own Bitcoin. All my non-propoerty assets are ones and zeros on a server hard drive somewhere.
As I have been saying all along, if you can’t stand in front of it with an assault weapon and physically defend it, then it isn’t yours, and probably never was. - Ann Barnhardt
Which is coming. That's what this ruling is setting up. Mexico did it in the 'eighties. We are the new Mexico.
Some nature of banking is necessary to function. It’s all but unavoidable for those who have utilities, mortgages, insurance and the like. It’s not possible to go all cash for the vast majority in the modern world. Stressing out over some future possible worst-case scenario is going to send you to an early grave. Making contingencies and studying the matter to try to understand how to contend with it is a good thing but it’s highly individual as far as arrangements you choose to make. If you see a need to go to barter items then by all means, I’m not stopping you. You’re barking up the wrong tree. I just think bitcoin is overhyped and carries a fair share of risk, perhaps more than dollars do, that’s all.
If there's still an Interwebs.
If there’s no interwebs there’s no bitcoin.
The thing that makes Bitcoin so attractive to me is that government has no control over it.
Government is the greediest, most corrupt and murderous force on Earth.
I fear that you will be forced to agree with me before too much longer.
That’s good because I don’t own any.
Anything, any material item you have can be taken away from you. All your guns and ammo even are no guarantee that you will prevail in a showdown.
May be better to get your spiritual house in order and enjoy what you have one day at a time. Of course, exercise as much prudence as you can discern from the prevailing winds of change . . . .
Merry Christmas to one and all and if you aren't of the faith, peace and good will to you.
Government has absolute control over the means of exchange for bitcoin and you’re delusional if you fail to recognize this.
You will need something to barter with. Junk silver and gold is good. Something that is recognizable.
Your ammo will be worth something.
But more people will have guns than food. And some of us will have both. We will want to barter rather than shoot at each other. In fact, working together will can do more than apart.
Could you please actually read what I posted about Bitcoin. Do you have rabies or something?
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