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 ...
In a “bank run” environment, it is OK. If it is in a no electricity situation...probably not so much.
Anything Congress does it can undo, I figure. Thing is though, they seem to be banking on all of us just rolling over on this instead of holding their feet to the fire. We should be calling, emailing, and lobbying in person every day, to let them know this sort of nonsense is NOT to be construed as business as usual, and therefore OK!
... and a Merry Christmas to you too.
Concur on the working together but as a hunter and fisherman, food and water is abundant if you know what you’re doing. Money i.e. gold, silver etc is useless when water, fuel, food and even alcohol & clothes becomes far more valuable bartering in a collapsed financial market.
A lot of folks seem to think gold etc is the end all but I’ll take common sense and the above and think I’ll do fine.
You didn’t read a word I said, because everything you said was a non-sequitur. Excuse me for actually reading what you said.
Lead
Things just might be so bad that there might be no election in 2016 and King Obama will be America's first dictator.
I am not convinced that he is going to leave.
I have no choice as my employer forces us to us direct deposit, but since I tend to be broke, chances are my money will probably be spent when they do come after it.
The article makes no sense. I think what is going on is that the stock holders were to be the last paid in case of liquidation, but now it is depositors who will be reimbursed last.
Even Wikipedia didn’t know who Ann Barnhardt is.
Funny you say that about the food. I was recently in norther Vt talking to a couple of guys about hunting after a meltdown. They pretty much told me the deer herd would be gone in a month or so, followed by the Turkeys and other fowl.
The only thing not hunted to extinction would be the fish.
And the northeast of VT is about as rural as you are going to get.
Preparations for that may be entering their final stages, but the 60 million or so haven’t been taken down, yet. It probably won’t be long to bond collapse time, though.
>>into what
Silver and lead.
>>Maybe I’m missing something here, but my take on this is that if the strength of the middle class is contingent upon government guarantees of bank deposits, then the middle class never really existed in the first place.
When “money people” speak of the middle class, they mean small investors and wealthy retirees. They act like wage earners don’t exist and that the only productivity in America is moneychanging.
The purchasing power of inflated, devalued dollars will drop to nil. Eventually the government will issue new currency and your dollar cash, whether in the bank or under the mattress, will be worthless.
Most people will in the same boat when the world goes to a crisp. We'll all be thumbing for a ride down the road to start over from scratch.
Too many assertions, with not a single one backed up by source material:
1. “G20 says banks own deposits, not the the depositors.”
So what (assuming this is even true)? Has no effect on U.S. banks without legislative change.
2. “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.”
Assuming the first part is true, is the second part actually true? Would love to see a reference.
3. “And if you don’t think there is any danger of a banking crisis in America you may want to keep in mind that the Treasury Dept. has recently ordered $200k worth of 72 hr emergency kits for dispersion to every major bank in America. These are known by many as bug-out-bags and are used to support individuals when disaster strikes and they have to care for themselves for the first few days of crisis.”
Is this true? $200,000 doesn’t seem like it would buy very many “bug-out” bags. And what purpose do these “bug-out” bags serve for the “bankers” anyway? So they can flee? Stay to conduct “business” when what exactly has happened? Lights have gone out? Internet down? Zombies?
4. “New legislation now gives pension plans the ability to cut benefits to pensioners in the future making the future welfare of these people uncertain. “
True or not true? And what kind of pensions are supposedly affected? Defined benefit plans, defined contribution plans, IRAs?
5. “The sanctions being placed on Russia are beginning to destabilize the world in many ways.”
Seems like this was just thrown in randomly. Lots of other bad things besides this going on
6. “For the past few years those elite with knowledge of the coming monetary destruction have been putting their fiat dollars into any hard assets they can find.”
Let’s see some actual proof, you know, some numbers, some examples, some specifics.
Perhaps you would be more comfy over at fogbow ... you don’t appear to know shyte about what is actually happening in Amerika, and appear to be proud of your ignorance, proud enough to deride someone trying to give you a few clues.
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