OK, so “global systemic collapse”- what does that mean to main street?
Does it mean, no-notice, the ATM’s and credit cards just “stop working” one day? No one will take checks because they are not being accepted for deposit?
I assume this happens no-notice to the general public, as the elites prepare ahead of time. The banks are shuttered, so no access to “safe deposit boxes”
This breaks when Congress either is on a “break” or declares an emergency recess and heads for GreenBriar or other pre-selected “safe” hiding place as public order is expected to collapse with no money, swiftly disappearing food and gasoline supplies, and a fallback an collapse of local governments who are too overwhelmed to provide public order or other services??
Is this the effect of global systemic collapse?
If it occurs, it will most likely be the way you describe.
You left out rioting in the streets, looting, robbing, and total mayhem.
Some fine morning, after heading off to bed from a fairly "normal" day, we're going to arise, have our coffee, start getting ready to head off for another "normal" day, and nothing will work ... just like that.
This thought has haunted me for years.
The private party, privately owned Federal Reserve Bank will do as it pleases, Congress or no Congress. They are running the show.
When they said they wanted a chiseling tax, Social Security, unemployment, and illegal worker cheat and financial loser Geithner. They get him.
This is why the Banks are getting the private paper money, know as Federal Reserve Bank...notes. Because it is their money, all banks in the US are controlled by the private Federal Reserve Bank.
The banks will survive, because the Fed wishes that they do.
But what about you?
What if you get wiped out?
Tough. Get on your knees and start over. When you clean yourself up, you can go to a Federal Reserve Bank, or one of their banks under different names, like Bank of American, or Citibank and borrow money at rates that will pay off these banks debts. ( you didn’t think that when these banks got this free money that THEY were the ones to pay it off, did you? Oh My God! How are THEY suppose to stay in business and even make a profit if THEY have to pay? Jeesh. Doesn’t anyone know how to play ‘stick it’ to someone else anymore? This country has gotten soft. /sarc)
Anyways, more to answer your questions. The banks are all bust. In order for them to get good, they have to find, make, manufacture new loans. If people are being thrifty, then the economy has to eat up thrifty peoples money by taxes. As you know we haven’t been good saver. You might of heard that ‘the econmy’ will get going by the end of 2009. That is when you/me are totally broke, we will have to crawl to the banks and get mortgages for anything, at any interest rates that we can. Thus the ‘economy’( not your personal economy which will be trashed along with 50 million other Americans) will beginning to ‘unfreeze’ and the whole debt/payment/rising prices/borrow to buy/debt cycle can begin again.
Nice. Isn’t it?
That's a scary thought. Most employers have forced their workers to use direct deposit, we have been encouraged to pay our bills on-line.
If my CU closed right after a pay-day I would be out one-half months pay. We have some money in two other banks but if they shuttered at the same time we would have no way to pay bills or buy food or gas. (Note to self: Stock up on ammo, add cash to the "Hurricane supplies".)