Looking back over history the bottom for silver is more like $5; not sure why $15 should be a bottom now when it hasn't stopped there in the past --even w/ inflation.
Posted on 11/16/2014 7:23:09 PM PST by dontreadthis
This weekend the G20 nations will convene in Brisbane, Australia to conclude a week of Asian festivities that began in Beijing for the developed countries and major economies. And on Sunday, the biggest deal of the week will be made as the G20 will formally announce new banking rules that are expected to send shock waves to anyone holding a checking, savings, or money market account in a financial institution.
On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial banking crisis occurs. Additionally, all member nations of the G20 will immediately submit and pass legislation that will fulfill this program, creating a new paradigm where banks no longer recognize your deposits as money, but as liabilities and securitized capital owned and controlled by the bank or institution.
In essence, the Cyprus template of 2011 will be fully implemented in every major economy, and place bank depositors as the primary instrument of the next bailouts when the next crisis occurs...
(Excerpt) Read more at economicpolicyjournal.com ...
And what money source backs the FDIC? Taxpayers dollars of course.
Aren’t headlines like this one supposed to include the notice that the posting is a satire?
If it’s not a satire and Obama agreed to such crap, the turmoil in the US will grow even worse than it already is!
666
Bear market rally. It says to me that people are trying to time the bottom. That's usually not a sign of solid support.
Yikes you're right! This article about gov'ts confiscating savings has got freepers calling for murdering bankers --imho it's a bit over the top. Aside from all the 2nd hand hearsay, what are we really talking about here:
banks no longer recognize your deposits as money, but as liabilities and securitized capital owned and controlled by the bank or institution.
This is no different than what we've had for thousands of years. Our deposits are the banks liabilities, which in turn make possible bank assets --securitized capital which banks own and control.
Gold’n’silver are right now down to $1,188.75 and $16.20, and futures traders atm are seeing another -0.41%.
So just cash those checks instead of depositing them?
Don’t American banks already consider deposits as liabilities?
I thought that has always been the case.
When loaned, the loan is an asset
I’ll have to ignore my advice and try to time the bottom myself at some point. $15 looks pretty good to me.
Actually, the banks pay into it for the majority.
But, if the banks come up short, the government kicks in.
Keep track of who is bearing the risk.
The financial elites push all risk to the taxpayer.
What happens when a bank goes belly up is that the FDIC covers the amounts under the max. Then they sell the assets to another bank—its more like its assigned—and they take over the good stuff and the bad loans and what not are liquidated.
So, the total amount the FDIC is on the hook for would not be the complete capitalization of the bank.
Thats the plan.
What is not in “the plan” is multiple LARGE failures at one time. You are correct. If more than one large bank goes under at once, we are screwed.
My opinion is that when the system starts to fail, it will go so fast no one will be able to stop it.
Keep an eye on the bond market.
Right now the US is the cleanest dirty shirt in the closet. And in a while, THAT shirt is going to be come unwearable.
Looking back over history the bottom for silver is more like $5; not sure why $15 should be a bottom now when it hasn't stopped there in the past --even w/ inflation.
That’s what I was thinking. This “kill the bankers” thread is right out of Marx’s playbook. imho
5.56mm
The power of the Congress to assume debt is hereby restricted: the congress shall assume no debt that shall cause the total obligations of the United States to exceed one hundred ten percent of the amount last reported by the Secretary of the Treasury.
The "amount last reported" is assumed to be valid/correct. When we trust the government to be honest, we generally deceive ourselves.
The financial elites engineer all financial “panics”.
Whenever they stage a “panic”, everyone panics and sells, and they buy, dramatically increasing their wealth.
The elites control the boards of the large banks, the Fed, ergo the banking system.
They also control the boards of publicly-held companies.
They control boards by having made “their” way of thinking the generally accepted way of thinking of board members.
This is why publicly-held companies and banks all dance to their tune, implementing all the their agendas.
The elites also control the top of the UK and US governments.
This is why/how Hank Paulson could get $700 billion taxpayer backing for the elites’ banks by simply walking into their President’s office and asking.
Yes. We are dealing with the herd mentality here. Once the illusion of confidence is broken, anything is possible.
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