Posted on 03/19/2013 6:53:07 AM PDT by shove_it
“solution”?
does anyone think this is a solution to anything?
Yes it is, rapidly. The result will be a global run on banks and converting currency for ammo, food, a d precious metals.
Nothing is as powerful as an idea whose time has come — Victor Hugo (and hijacked by every Commie since)
How about an Iceland style solution to broke banks? i.e. tell them to get bent and throw some of the fraudsters in jail.
Most of the pictures we have of bank runs are old. This talk should give us some nice fresh pictures! I am going to be doing some banking now - before Pelosi, Reid, and Obama start getting ideas. It's time to buy a secure, burglar proof safe (if you don't have one), convert at least part of our assets from cash to metal as a hedge against inflation, and get ready to ride out the rough times that socialists and crony capitalists are going to inflict on us.
>>The result will be a global run on banks and converting currency for ammo, food, a d precious metals.<<
Frankly, for the first time I thinking of a major move in the precious metals direction.
I notice that today, Tues/19th, 10:20am, that Fox has removed all mention of Cyprus or New Zealand from its front page. ABC and CBS still have one story each per front page. It’s not happening, if you don’t know about it.
I notice that today, Tues/19th, 10:20am, that Fox has removed all mention of Cyprus or New Zealand from its front page. ABC and CBS still have one story each per front page. It’s not happening, if you don’t know about it.
Millbury Savings Bank still doing business under the same name in the same location, only now they have drive up teller and ATM windows. The World may not end tomorrow.
It will for somebody. Getting right with God. The ultimate in preparedness.
/johnny
Is The Largest Weekly Inflow Into Bank Savings Accounts On Record, A Flashing Red Alarm?
Tyler Durden’s picture
Submitted by Tyler Durden on 11/20/2012 17:48 -0400
What has been unsaid so far, is that to Ben Bernanke and the champions of the status quo, money in Savings Accounts would be far better used if it were to be dumped into stocks. After all, the primary reason for the urge by the Group of 30, Tim Geithner, Bernanke and the SEC to crush money markets and to make them even more uneconomical is to pull all the cash contained there and to have it invested into bonds, stocks, and other risky products.
In summary, the more money allocated to Savings Accounts, the more Bernanke’s attempts to rekindle the “animal spirits” fail. And while this cash is at least on the surface what is known as “money on the sidelines”, the flipside also is that should this money ever leave the “sidelines”, modestly at first, then all at once, then the Fed’s moment of reckoning will come, as that will be the moment when the Fed’s ability to keep inflation grounded in “15 minutes” or less, will be thoroughly tested.
Paradoxically, Bernanke wants this money to re-enter the risk markets, and/or the economy, but not in a way that leads to hyperinflation. After all there is $10 trillion in electronic “money” in the US system, and only $1 trillion in cold, hard cash available for cash claims satisfaction.
All that brings us to the topic of today’s post: weekly changes in the amount of cash held in Savings Deposits at Commercial Banks. As the chart below shows, rapid, dramatic shifts, characterized by massive inflows of cash into such savings accounts usually coincide with times of great monetary stress: the three biggest episodes in history to date have been the 2008 Lehman failure, the August 2011 Debt Ceiling Crisis and associated US downgrade, and the May 2009 First Greek failure and bailout.
Those three episodes represent the biggest weekly Savings Deposits inflows number 2 through 4.
When was the largest ever inflow into Savings Deposits at Commercial banks, at $131.9 billion in one week? This past week.
Vlad (Putin) Is Not Glad About Cyprus
http://blogs.the-american-interest.com/wrm/2013/03/18/vlad-is-not-glad-about-cyprus/
...”Russia’s well-connected kleptocrats have the most to lose here, and it’s not surprising that they called their friends in the Kremlin at the first sound of this story breaking. It’s just not going to help them much in this case: Putin and his cohorts can wail and gnash their teeth all day long, but unless the Russian government is willing to pony up and pay to bail the depositors, the Kremlin has precious little leverage over this decision”...
Nice looking grandkids. Be a shame if something were to happen to them.....
The Kremlin has all the leverage it wants to have. Think about the kidnapping of a Russian envoy in Beruit years ago. It didn't much get reported... but the response was swift and brutal, and kidnappings NEVER happened again to Ruskis in Beruit.
/johnny
I wonder if pumping my $s out of my bank accounts and into my Scottrade margin account will protect me from loss of the $s?
I’ve heard the Ruskis made Cyprus an offer they can’t refuse Re drilling their NatGas deposits in exchange for making their banking problems go away.
I think the Russians have been orchestrating this for years, create a crisis, so they can swoop in and bail out Cyprus in order to gain a Naval base and/or their natural resources.
So why would people put money in banks if it makes them liable for bailing out said banks? Better to stuff a mattress, buy gold, or whatever.
Maybe that is the goal?
Cyprus is MF Global on a national, retail banking scale. Corzine absolutely blazed this trail. The particulars are almost exactly the same. Both MF Global/Corzine and Cyprus were failing entities, both took massive, uber-leveraged risks on European sovereign debt, both swept sacrosanct customer money when the house of cards finally collapsed under the weight of its own math.
The indefensible zeroes and ones were instantly swept from the computer servers and customers were locked-out of their accounts.
Interestingly, both were goaded on and enabled by the same people. Corzine was a crony of the Obama regime, which is operationally a Chicago-based phenomenon, as are the regulators of the futures industry, along with the CME group itself.
Cyprus was goaded, overseen, and then "harvested" by the International Monetary Fund, which is chaired by Christine Legarde, who is a Chicago player, and who actually was a partner at Baker & McKenzie before being placed at the IMF by the Obama regime and bankster oligarchy. Cyprus was Christine Legarde's play, and Legarde is in the Chicago oligarch circle.
This will happen here. It already has with MF Global, Cyprus is testing the national, retail banking level, and then it will happen here. They might go straight to bank holidays here, as Warren Pollock has been talking about for over 18 months now, or they may do a levy confiscation like this on retirement accounts.
If you have any money exposed to the financial system, you're just stupid. That's it. Bottom line.
/johnny
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