ING Direct steps in as US bank collapses

Originally posted by djohnsto77
There's an easy solution to this problem.

If you're scared at all of bank failures, just make sure you have less than $100,000 in each bank. Unless you're crazy rich, you should be able to find enough banks in your community to deposit your cash in $100K chunks without any risk of not being covered by FDIC insurance.

[edit on 9/30/2007 by djohnsto77]

mmmmm, can I have your job that you have arouind 100 000k in deposit hehe

First of all, the color change in our printed IOU's called cash. When the Chinese began counterfeiting our money to buy Russian nukes, (telling their people they will use them on us)the government decided to make it hard for them to do. It is not nearly as easy with the new designs, and the colors, and the imprint when held up to light. But they did, and now we are back to square one. An argument for chip currency.
In the US after the Great Depression, we passed laws that mandated banks hold 10% of deposits, in the local branch, to prevent bank runs. So the banks, greedy SOBs as they are, started putting ALL of the deposits in the vault, and loaning out 9 times what really existed. Call it what ever you want, that is creation of money, ie counterfeiting. The nice thing for them, is that they do not need to go to the trouble or expense of printing their counterfeit money. They just 'write' it into the books. Last time I checked, they counterfeit 1,200 BILLION dollars in that tax year. The tellers, bless them, know nothing of this. Its the scum at the top. And the Fed won't go bankrupt, ever. They, like governments all thru history, will simply print the money to pay the insured. Naturally, hyper-inflation results. However, the Federal Reserve Bank is not government, but a private con. With a lot of power con. I am not sure what actions they will take re this.

After looking here...



Yeah, it's pretty clear the Chinese don't have an issue printing color money. Our money looks more like theirs now, not less.

Our new money for comparison:

Here was the progression:

Step 1 (1999):

The New Euro Dollar Unit Now In Effect, January 1,1999
The first meeting of the European Central Bank's board will mark a new era in monetary policy and for the entire world.The new bank will be one of the most powerful economic and monetary institutions in world history, rivaling The United States
Federal Reserve.On Jan. 1,1998,the European Central Bank will set interest rates of more than 290 million europeans
compared to the 266 million people in the United States

Step 2 (2 years ago):

New changes will be implemented by January 01, 2005 concerning the North American Bar Code as compared to the Global Bar Code. While the rest of the world uses a 13 digit bar code, North American companies have preferred the 12 digit bar code system, but not anymore. The Uniform Code Council that oversees bar code standards in The United States and Canada announced the adoption of the 13 digit code and the code must be compliant by January 1, 2005. For the first time in history, a true global standard for bar codes will be achieved.

Step 3:

Nanotechnology scientists will use this science by manipulating the enzymes already located in the human body. These enzymes will perform as nano battery so certain chip implants will work at almost a 100% accuracy rate. Already the world's smallest rotary motor-enzyme nano machine called ATPase has been shown to work with a near 100% accuracy rate.

Source: www.jaysnet.com...

Not saying it will happen this way, but it doesn't take a stretch of the imagination.

[edit on 1-10-2007 by saint4God]

reply to post by uberarcanist


"Dude", this just goes to show that fractional reserve banking is fundamentally unsound, which will inevitably lead to the bankruptcy of the US govt. Just be happy theres nothing to be happy about!

US stocks at high Ok, If the netbanks are folding how is the stock market at a high point? Is this the plunge protection team PPT at work pumping liquidity into the markets??
D

[edit on 1-10-2007 by dntwastetime]

I find it odd that Wall Street now seems to be in charge of the Fed. Todays gains were based on bad news which in their minds means another rate cut. Which in turn devalues the dollar. Which leads investors to stop paying for our debt (going to 10 trillion).

America is the buyer and China is our sub-prime lender. World markets will inherit this mess.

Stocks Close at Record High on Rate Cut Hopes

Rate cuts always send the economy on a rally because easy money means more investment. However, rate cuts mean the economy is in trouble, if the economy weren't in trouble there would be no need for a rate cut...

Another issue at heart is the weak dollar. A weak dollar spurs foreign investment because they get more bang for their buck. A $10 dollar stock being bought in euros is much cheaper at 1.45 dollar/euro than it is a 1.35 dollar per euro...

And what does the United States currently have in common with Russia in 1993, Argentina in 1999, and the Wiemar Republic in 1923??? They all had record stock market prices when measured in their domestic currency just before their collapses. This is because as the currency goes down, prices go up!

If the dollar drops by half, its only natural to expect Gold, Oil, and The Stock Market to double. This is NOT a sign of increase in value of these commodities, merely a decrease in value of the currency a.k.a inflation.

[edit on 10/1/2007 by sp00n1]

In everyone's opinion, what's the time frame here? When is it all going to go tits up? Are we talking 6months, or are we talking 6 years?

reply to post by dingleberry77


I believe it will be sooner rather than later. I think in the coming weeks we will see more runs on the bank, more major mortgage brokers going bankrupt, and the dollar continuing to fall through the bedrock.

The next 4-6 months are going to get pretty scary!

The key is to understand the crash will happen when they are ready. The button is there all they have to do is push it. perhaps the next event will not be a terrorist from outside the country ,maybe it will be a economic disaster. They will always make it look as if they were not involved, then they pose as saviors.(Alex Jones quote)


Here is the latest article via the Jeff Rense website.Economic Disater Immenent
Something to chew on.

D

[edit on 2-10-2007 by dntwastetime]

I think the 'push' over the edge will be the Iran attack. Energy prices will sky rocket and the speculation that drives the market at the moment will end, forcing people to face the fact that America is overextended. The caveaut being that this will get people fired up to fight a bigger war for energy. We will be in full war mode, draft, rationing and all.