Posted on 11/16/2014 7:23:09 PM PST by dontreadthis
Anybody open a bank account, savings account, brokerage account — you sign away your rights and allow the bank to hypothecate your money, shares, assets.
Hypothecate
http://legal-dictionary.thefreedictionary.com/Hypothecate
To pledge property as security or collateral for a debt. Generally, there is no physical transfer of the pledged property to the lender, nor is the lender given title to the property, though he or she has the right to sell the pledged property in the case of default.
P!
I think the inactivity fees are designed to allow the banks to avoid escheatment of funds left over a long period of time.
Can't say for sure, but that spike happened right after the news that Russia had just bought an ass-load of gold.
China and India had been loading up as well in recent years.
Article is 100% Crock-O-Shite.
The trouble is that this "news" might in itself trigger a run on the bank. Cyprus was a disaster when the "run" got going. Not only that, large depositors were tipped off and pulled their money way before the average schnooks caught on. A "run" can get ugly real fast.
I think you’re right. I was off by a magnitude. But the concept is the same.
Well-stated.
In a crunch, the FDIC would get whatever funds it needed via appropriation or reallocation. The real bite is the risk of the FDIC not paying off in full on deposits above the stated maximum.
That’s right.
I cannot find anything in the posted G20 documents that meets the description.
But the FDIC's big daddy has trillions of dollars, and the ability to step on the buck, should that prove insufficient.
The real bite is the risk of the FDIC not paying off in full on deposits above the stated maximum.
Scary. I think we’re living on borrowed time. I see something terrible happening before Obama leaves office.
The old saying, “failure to plan is a plan for failure.”
Now the G20 is planning to cover their upcoming failure. Thus ensuring a failure now that their bailout funds are secured.
Planning to fail is a plan to fail.
NY Spot gold made its move on Friday.
Went from about 1148 to 1193, a 45 point move.
A lot of hedge funds are short gold, and some huge trades - long trades - went through NY on Friday morning.
The conventional wisdom - short covering by hedge funds, plus a strong rally oil on Friday, which usually trades in tandem with gold.
I will have to look it up but I seem to remember hearing that it is had been restricted to the point of being useless.
We are far better off than China, which is getting old before getting rich. In addition, the worldwide development of shale oil and gas resources and of new forms of nuclear energy -- thorium fission reactors and hot and cold fusion -- offer the prospect of greatly reducing the wealth and power of OPEC and thereby forcing the reform of Islam and its stagnant, toxic societies.
Moreover, the US is likely to remain the world's sole superpower. China lacks the inherent strength, experience, and cultural and political appeal to be a superpower. As has been the case since WW II, a US led global alliance and US supervised international institutions are likely to remain in charge and to prevent a general war while overseeing world-wide prosperity and material progress.
pretty funny.
explains why big money individuals were looking to transfer into gold 4-6 weeks ago
Thanks for the education
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