Posted on 12/07/2013 10:37:20 AM PST by SeekAndFind
Edited on 12/07/2013 11:38:42 AM PST by Admin Moderator. [history]
The too big to fail banks have a larger share of the U.S. banking industry than they have ever had before. So if having banks that were too big to fail was a "problem" back in 2008, what is it today? As you will read about below, the total number of banks in the United States has fallen to a brand new all-time record low and that means that the health of the too big to fail banks is now more critical to our economy than ever. In 1985, there were more than 18,000 banks in the United States. Today, there are only 6,891 left, and that number continues to drop every single year. That means that more than 10,000 U.S. banks have gone out of existence since 1985. Meanwhile, the too big to fail banks just keep on getting even bigger. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years. If even one of those banks collapses, it would be absolutely crippling to the U.S. economy. If several of them were to collapse at the same time, it could potentially plunge us into an economic depression unlike anything that this nation has ever seen before.
(Excerpt) Read more at theeconomiccollapseblog.com ...
Is good to see keywords in bold font. Seldom done with an article or maybe is seldom allowed.
This will not end well.
It's inevitable that - given that there are some financial institutions that are "too big to fail" - the TBTF institutions will absorb the not-TBTF institutions.
Eventually, we'll reach a point at which it will be the entire US economy that will fail.
That's because the concept of TBTF is a lie. The truth may have a hard time competing with lies in the short run, but in the long run always wins out.
For all intents and purposes the banks are “Nationalized” because we are on the hook for them.
The states have the right to issue coin, but not paper. We need to start our own banks with our own coin.
Kill the Fed before it kills us. Again.
And in Texas we can use oil/gas to back our currency, even start farming on state land, we have nearly unlimited resources to back our coin.
Thomas Jefferson warned us!!!!
________________________________________________________
Thomas Jefferson was a very remarkable man who started learning very early in life and never stopped.
At 5, began studying under his cousin’s tutor.
At 9, studied Latin, Greek and French.
At 14, studied classical literature and additional languages.
At 16, entered the College of William and Mary. Also could write in Greek with one hand while writing the same in Latin with the other.
At 19, studied Law for 5 years starting under George Wythe.
At 23, started his own law practice.
At 25, was elected to the Virginia House of Burgesses.
At 31, wrote the widely circulated “Summary View of the Rights of British America ? And retired from his law practice.
At 32, was a Delegate to the Second Continental Congress.
At 33, wrote the Declaration of Independence .
At 33, took three years to revise Virginia ‘s legal code and wrote a Public Education bill and a statute for Religious Freedom.
At 36, was elected the second Governor of Virginia succeeding Patrick Henry.
At 40, served in Congress for two years.
At 41, was the American minister to France and negotiated commercial treaties with European nations along with Ben Franklin and John Adams.
At 46, served as the first Secretary of State under George Washington.
At 53, served as Vice President and was elected president of the American Philosophical Society.
At 55, drafted the Kentucky Resolutions and became the active head of Republican Party.
At 57, was elected the third president of the United States .
At 60, obtained the Louisiana Purchase doubling the nation’s size.
At 61, was elected to a second term as President
At 65, retired to Monticello
At 80, helped President Monroe shape the Monroe Doctrine.
At 81, almost single-handedly created the University of Virginia and served as its first president.
At 83, died on the 50th anniversary of the Signing of the Declaration of Independence along with John Adams.
Thomas Jefferson knew because he himself studied the previous failed attempts at government. He understood actual history, the nature of God, his laws and the nature of man. That happens to be way more than what most understand today. Jefferson really knew his stuff. A voice from the past to lead us in the future:
John F. Kennedy held a dinner in the white House for a group of the brightest minds in the nation at that time. He made this statement: “This is perhaps the assembly of the most intelligence ever to gather at one time in the White House with the exception of when Thomas Jefferson dined alone.”
“When we get piled upon one another in large cities, as in Europe , we shall become as corrupt as Europe .”
— Thomas Jefferson
“The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.”
— Thomas Jefferson
“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”
— Thomas Jefferson
“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”
— Thomas Jefferson
“My reading of history convinces me that most bad government results from too much government.”
— Thomas Jefferson
“No free man shall ever be debarred the use of arms.”
— Thomas Jefferson
“The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.”
— Thomas Jefferson
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
— Thomas Jefferson
“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.”
— Thomas Jefferson
Thomas Jefferson said in 1802:
“I believe that banking institutions are more dangerous to our liberties than standing armies.
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered.”
I wish we could get this out to everyone!
I’m doing my part.
Fer later
Capitalism is self-correcting. The banks should have been allowed to fail.
Just like in the auto industry, Chrysler or GM should have been allowed to fail. Where is it written that the U.S. has to have the big three? The surviving companies would have been leaner and stronger.
And even if both had failed, it would have allowed new opportunities to grow out of the ashes. The British motorcycle industry was dead, until a new company revived the Triumph nameplate. Now, they are successfully competing on the world stage. The old Triumph grew to have too many institutionalized drawbacks and became out of date. The new company is leaner and better.
If you want to start a new bank start it in Houston. Cash we got. Lots of it.
bkmk
The simplest way around this problem is to pass a law that gives an advantage to smaller banks. It’s not really a cheat, because right now the law is written to favor the larger banks.
Optimally, the new law would favor the decentralization of the big banks, much like busting them up in an antitrust action, but voluntarily, while restricting their ability to dump all their debt on a “scapegoat” branch destined to go bankrupt, but having little or no assets.
If carefully crafted, while they wouldn’t like it, it would do wonders for the economy as a whole, as well as removing the too big to fail sword from over our head.
Importantly, because so many banks are multinationals, it would cool down some of those overheated entities as well, because if they wanted to operate in the US, they would have to play on a more level field.
This would be a huge project of the House and Senate banking committees, and have to be done on the sly for several years, to keep the megabanks from busting it up.
Where is our Jefferson, Washington, Madison? An Obama timeline would look something like this:
Age 0, born out of wedlock to a woman named Stanley - place unknown, father unknown
Age 6, moved to Indonesia, converted to Islam
Age 10, moved to Hawaii, lived with Communist grandparents
Age 13, "mentored" by known Communist Frank Marshall Davis
Age 14, Davis introduces Obama to weed and sex with men
Age 15, enters high school, spends next four years high
Age 19, probably enters college
Age 20, visits Muslim nations Indonesia and Pakistan
Age 25, moves to Chicago, meets Marxist terrorist Bill Ayers, spends lots of time in gay bars having sex with men
Age 27, enters Harvard, education paid for by radical Muslims
Age 30, graduates from Harvard, returns to Chicago, hangs at "Man's Country", associates with Communists
Age 36, wins state senator election by screwing former mentor Alice Palmer, votes "present" much of the time, gets high a lot and has sex with men
Age 38, is hooked up with Michelle Robinson by Rev. Jeremiah Wright as a "beard" to hide Obama's homosexuality
Age 43, wins Senate seat from Illinois by exposing GOP opponent's personal life
Age 47, wins presidency when idiotic GOP runs sure loser John McCain
Age 48, begins serious business of destroying the greatest country in world history.
Palin/Warren 2016!
Capital is good for a bank.
Deposits are a liability.
Politicians can't fix this.
One would think that whomever has the power to destroy something has the power to fix it.
Not true. Economics 101.
Might as well recommend Palin/Clinton while you’re at it... :)
Clinton works for the banksters. Warren does not.
Gotta think out of the box before you can get out of the box.
fewer and larger banks are easier to control, our government wants this to happen
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