Your Cash Can Be Gone at the Whim of the Fed

originally posted by: intrptr

originally posted by: Semicollegiate

originally posted by: intrptr

originally posted by: babybunnies
The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

In Greece they froze peoples accounts to prevent that. The ATM goes dark one day, preventing a "run" on the banks and hyperinflation.

Then they 'issue' cash at 60 Euros a day to keep things from getting out of hand. No credit cards are acceptable because retailers don't know if they will collect down the road.

It becomes a cash only economy at that point. And even better, a black market, barter, gold and silver exchange climate.

A reason fiat money has value is that it can be used to pay taxes. You can't pay taxes with barter.

Taxes strike again. Taxes have many bad side effects.

In that kind of shtf economy the tax man is an endangered species.

They can't possibly police every "sale".

An economics text back in the 1970's said that 30% of the economy was off the books.

Without cash that drops to 1 or 2 percent.

originally posted by: smirkley
I have been married for awhile.

My cash has been gone just as long.

Katherine Albrecht was asked "How does a guy find a woman like you?"

She said that her husband had a lot to do with who she is.

Congratulations.

originally posted by: Semicollegiate

originally posted by: intrptr

originally posted by: Semicollegiate

originally posted by: intrptr

originally posted by: babybunnies
The minute that the rumor starts that the US dollar is shaky, the crash would come very, very fast.

In Greece they froze peoples accounts to prevent that. The ATM goes dark one day, preventing a "run" on the banks and hyperinflation.

Then they 'issue' cash at 60 Euros a day to keep things from getting out of hand. No credit cards are acceptable because retailers don't know if they will collect down the road.

It becomes a cash only economy at that point. And even better, a black market, barter, gold and silver exchange climate.

A reason fiat money has value is that it can be used to pay taxes. You can't pay taxes with barter.

Taxes strike again. Taxes have many bad side effects.

In that kind of shtf economy the tax man is an endangered species.

They can't possibly police every "sale".

An economics text back in the 1970's said that 30% of the economy was off the books.

Without cash that drops to 1 or 2 percent.

Most point of sale taxes are EFT now. How many pay cash? Even so, the register and computer record the sale, take tax and make receipts automatically. During a currency failure, there are no computers recording point of sale transactions at the flea market or farmers markets and surely none recording transactions for goods or services. The only way taxes can be collected then is by Tax Men.

a reply to: intrptr

I travel a lot, and from time to time the computer cash registers break down and go off line.

That will happen more often as the economy continues to lose more of its inherent natural productivity.

I'm not sure, but I think I have heard more news stories about power station sabotage in the last few years than in the all of the previous years of my life.

If the Feds can make Money wanish that means there are no debt in the world. A dollar or a pound is credit printed based on debt. If you have money in the bank it is actually someones debt in some form or another. Since Money is based on debt the Money you have in the bank is not actually Yours.

a reply to: spy66

Feds can make the cash vanish. The debt money is all still there, only the paper money is no longer legal tender.

That's OK, my grocery store accepts armed raids same as cash. At the end of the day, everything I could possibly want is out there somewhere, and the idea of me not simply going out and getting it because I'm bigger smarter and a better shot than most people works entirely on my faith that risk to reward ratio favors working within the economy as an optimum survival strategy.

What are the rich gonna do? Support 24/7 operations of their very own platoon of Marines at each one of their properties and trust them not to trash it even worse than the poor would the minute they're left unattended?

The whole scary aspect of the economy breaking down is that it becomes a free for all- not that the rich can just throw everyone overboard and get away with it. Of course they could kill the poor- but when the plague did that, nobles became farmers and farmers became land owners.

originally posted by: The Vagabond
That's OK, my grocery store accepts armed raids same as cash. At the end of the day, everything I could possibly want is out there somewhere, and the idea of me not simply going out and getting it because I'm bigger smarter and a better shot than most people works entirely on my faith that risk to reward ratio favors working within the economy as an optimum survival strategy.

What are the rich gonna do? Support 24/7 operations of their very own platoon of Marines at each one of their properties and trust them not to trash it even worse than the poor would the minute they're left unattended?

The whole scary aspect of the economy breaking down is that it becomes a free for all- not that the rich can just throw everyone overboard and get away with it. Of course they could kill the poor- but when the plague did that, nobles became farmers and farmers became land owners.

Just as a something to keep in mind . If it came to that the only thing I can recommend is don't go to the front. Everybody in the world would be doing that. Mass chaos, fighting over the individually stocked items, etc. Go to the back where the trucks drop off. Less people more than likely and bulk quantities already boxed for you.

This of course would be when something first started , later down the road people made their way to the back and does no good.

Let's hope it never goes there. Live in the now, just be aware

Many grocery stores have a stronghold mentality. It is kind of fun to think like that.

It is possible to get in with them before TSHTF.

a reply to: Reallyfolks

I am envisioning things a bit differently than a free for all. In general, people become dangerous when it becomes obvious that they aren't going to get a specific thing that they need right now. That is the point at which they take desperate action to get what they need. Everyone will hit that point in a different area of life at a different time, and the plan for such a policy would be laid out to prevent a critical mass being reached. The people in charge know that they can't let desperation reach a point where it becomes common for neighborhoods to have enough people with similar unmet needs in one time and one place that it becomes possible for stores to be over run. They have to stop right when something like that is on the brink of happening in a few poor areas where a riot can be contained if it happens.

That of course means that I will most likely have the privilege of deciding whether I want to let my quality of life adjust downward one more time or if I'm going to say that giving me an out isn't good enough anymore and that this time I'm going to make them compete on my terms instead of playing their game again. And history says as long as a few critical containers in my house are full and my phone works that I will go with the flow, so let's not start putting old vagabond on watch lists and stuff like that just yet.

But there is a fairly obvious equation laying out in the middle of the street for anyone to pick up which says demand plus supply minus medium of exchange equals power vacuum- and anyone with the vision to take and distribute in an organized way could become powerful. Somebody will always do the thing that is possible but not planned for- you can't legislate your way around the realities on the ground, and the reality on the ground is people separated from what they want by mere words on paper, not by an actual lack.

a reply to: FamCore

I'd really like to see something that validates what you've said - that would DEFINITELY make me rethink direct deposit etc.

It was decided at the G20 meeting in Australia in November 2014

New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners
Posted on December 1, 2014 by Ellen Brown
On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking.

other sites...
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www.alancurrie.com...

a reply to: Semicollegiate

Cash IS debt money.

Some people pay their debts. Some have them "erased".

a reply to: TheConstruKctionofLight

You know. As much as people talk I truely wonder what would happen if we hit another 2008. Instead of the bail out which we couldn't do, the banks implemented a bail in, something like Cyprus. After all if we are unsecured creditors they could what, take a percentage from everyone's account and issue stock???

Gut tells me that despite the anger there would be nothing anyone could do, and beyond get upset wouldn't do anything about it.

a reply to: Reallyfolks

In my opinion, the bailout from 2008, was just payment to the banks holding America hostage. Notice how the money never seemed to go anywhere after the check was cashed.

originally posted by: smirkley
a reply to: Reallyfolks

In my opinion, the bailout from 2008, was just payment to the banks holding America hostage. Notice how the money never seemed to go anywhere after the check was cashed.

At least that keeps down inflation. Nice side effect.

There have been record high prices in New York real estate and art auctions which implies some bunch of folks at the top are getting lots of new money.

a reply to: Semicollegiate

Not only sabotage by disgruntled people, but the power grid is aging, too.

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Thye'll continue patching things up, everything being equal.

The more the infrastructure ages though, the more vulnerable the house of cards becomes to the slightest breeze.