Federal Reserve releases dissaster preparednes video for banks

Federal Reserve releases dissaster preparednes video for banks

www.frbatlanta.org

The DVD features interviews with bankers and Atlanta Fed staff. The examples featured in the DVD emphasize the need for crisis preparedness and practical steps institutions can take to be prepared. The DVD includes supplemental in-depth interviews with these featured bankers.

(visit the link for the full news article)

The Federal Reserve Bank of Atlanta this past January released a video on crisis preparedness. The timing of such a video being released is suspicious considering the prospect of bank failures and an inflationary collapse of the U.S. monetary system loom large. The U.S. Dollar is at all-time lows and many top economists are predicting that we are entering a very deep recession if not a depression. Although the video focuses in on a potential disaster like a terrorist attack or a weather related event, a financial disaster easily fits into the scope of this video. The focus of the video is on how the Federal Reserve can immediately bring cash back into an area affected by a disaster. During a financial calamity, this will be a key concern because physical forms of money will reign supreme. Runs on the banks occurred frequently at the start of the Great Depression and they could happen here on a frequent basis if things get worse. The Federal Reserve chairman Ben Bernanke even made the prediction that we could soon see bank failures, so this is a concern not just coming from various economists and pundits but also from the top of this criminal banking system.


www.frbatlanta.org
(visit the link for the full news article)

Another great depression looms! Cut up your credit cards people.....

Originally posted by AbsoluteLegend
Cut up your credit cards people.....

WRONG ADVICE!!!!

Get cash advances now and hoard all the cash you can.

Who cares about your credit card debt if there is another great depression?

Why? ...because everyone else will be in that boat also.
What are the banks going to do, come after everyone?
Cash will be necessary to buy necessities -- food!
Furthermore, when banks start to fail, they won't be giving out any new credit lines. You'll be lucky even if you have no balance to keep any line of credit you have.

I certainly agree, though, that we shouldn't buy anything right now that we don't truly truly need.
Cash is king.

Please tell me if I'm wrong.

reply to post by worried08



I think even better advice would be to stock up on things like non-parishables, clean water supply, gas, ammo (assuming you have a gun) and if power went out it be handy to have some form of electrical generation. Prices will probably keep going up so anything bought now that lasts is an investment as far as I am concerned because if nothing happens you can just use the items but if something does happen you will thank youe lucky stars ya thought ahead.

Originally posted by AbsoluteLegend
Another great depression looms! Cut up your credit cards people.....

I'm overdrafting and buying a ak-47 (i live in Oregon they're legal) and some bullets.

Peace!

Originally posted by DisabledVet


#1: During a financial calamity, this will be a key concern because physical forms of money will reign supreme.


The Federal Reserve chairman Ben Bernanke even made the prediction that we could soon see bank failures,

#1: = i'm currently withdrawing whatever $ that is over and above
the minimum balance required to keep the account active,
(i need to have a bank acct. as i have a monthly direct deposit)

i have considered that there will be a run on BoA, and i won't be able to get any greenbacks (FRN) from my bank at some future date. So i am
quietly taking $100 here $100 there, several times a month, so as to not attract attention. I'm also adding +$20 cash back when i debit the grocery store or the local Lowes' home improvement, which is another way to quietly build up a cash reserve.

Secondly, i soon plan to buy partial sacks of pre 1965 coins $1, /.50/.25/.10/even nickles... with this secreted cash stash,



Bernanke tried to downplay or casually state that some local and even regional banks may fail... some finincial literate people say that things will
pick up this summer-autum & snowball throughout 2009.
The investment banks are dribbling out very modest 'writedowns'
at a billion here then a billion there....month after month after month...
.
you'ld think that the masses and the investment community would be waking up to the drip-drip-drip tactic ~ not unlike the hypnotists' art
of putting 'someone under' the control of the Svengali manipulator~

I'd keep that credit card in your pocket and try to pay off the balance ASAP.

Who do you think are going to be the first ones organized into Citizen Work Crews? The folks with no credit card debt or the ones whose debt was absorbed by the Government and now have a Debt to the Fedgov to pay off.

Read about the Great Depression. It was not the folks piled under their debt who came out the best. In fact, their is an old Government Work camp just outsid eof Lake City Florida that I have been to. It's called
"O'leno" it's a State Park.

reply to post by St Udio


FRN's might go the same way as the Weimar Republics cash money did in the twenties. Just make sure you crumple it up real good before you use it as toilet paper.

The coins are a good idea but the silver content is still pretty low in US coins. i would consider maybe pruchasing low denomination commemorative coins that are .999 Troy and of a low weight. The low weight because it will be better to have many smaller amounts of precious metals then say one big old 10 oz chunk of silver.

The poper US coins may be more valuable just because they are "real" though. Who knows how that will pan out.

People don't need to cut up their credit cards; they need to learn how to use them correctly. When you go around charging stuff with out having the money to pay for it, ya, you're going to end up in a bad situation. Even if you think you're going to have the money, don't spend; you never know if it's going to happen.

I'll take the other side of the arguement on this. Instead of calling this as suspisous, let's look at it in a different way. Ok, the banks know they screwed up; The Fed most of all should know this, yet they continue to make it worse. To keep people from panicing they send out this video to teach bankers, tellers, whoever it is how to deal with it so we DON'T go into a great depression. The majority of the people can and will get scared if they are talked into it. It only takes one person to cause a panic, it takes a whole lot more to fix it.

The problem lies with people as much as with the banks. People's spending habits are quite atrocious; it's no wonder people can't pay their bills when all they do is go out to eat. Instead of being scared of this, why not educate ourselves and turn this problem around.

These are just ideas; I could be completely wrong, who knows, not me.