Bank Holiday In America Coming Soon !

reply to post by mappam


What are you smoking? Do you live on a different planet? You know as well as I that if there is a currency exchange from dollars to ameros, the price of things won't go down. That thingamajig that cost 10 dollars before, will cost 10 ameros afterward. It's just pie in the sky hopefulness that leads anyone to believe that the numeric price would go down.

It was more a Question than a statement....

So you think that the $10 thingamajug at your local store will still be $10? If that is the case then that store won't stay in business for very long......With my Original $10 now only worth $1 I won't be able to buy much of anything.

Or is that the point - to put everyone out of business?

What is your thinking on the Euro? Or (the Credit Card, bank loans etc) debt? What about those of (us) that have gone through our savings because we are self-employed and have Debt instead of Money in the Bank?

Originally posted by Medieval1028
This type of bogus dribble needs to stop. Not only is it a figment of someone's imagination but could prompt people to do something detrimental. I forwarded a copy of this post to a friend who works for a US Senator on the Senate Committee on Banking, Housing, and Urban Affairs...who promptly stated that this is utter nonsense and feels that such lies could be dangerous. I really hope this poster gets a 'visit'

I learned a long time ago, never say something is impossible. I have seen this country go to socialist extremes in the shortest time ever, during the last yesr. To say a bank holiday can't happen, is stupid. Who could have ever imagined our country would be in the predicamnt it is now, just a few years back?

To say a bank holiday can't happen, is an obvious clue that someone hasn't looked at the facts, -not opinions-- facts. Read the reports and analysis of the bank stress test recently. Read the real analysis of the latest treasury debt auctions by the government. Look at what other countries are doing, in preparation for the fall of the dollar. They know what's coming. Look at how many banks have failed this year, and compare it to past years--facts--not hear say.
these are just a small group of facts, there are many more if someone wants to do a little research. So, to say a holiday can't happen, that's just dumb.

Originally posted by brocket99
@truthquest:

Please explain to me where you are finding the positive information that will keep the dollar propped up for years?

reply to post by brocket99


It should take a couple of years for the dollar to fail regardless of whether it is intentionally "propped up". Look at the inflation of the Zimbabwe currency at:
en.wikipedia.org...

Their currency took about a decade of high inflation to become worthless.

At the moment there are extremely powerful deflationary pressures on the dollar that I believe should make the hyperinflation take a couple years to unfold. Any reduction in issuance of loans by the US banking industry is a deflationary pressure on the US dollar. At the moment, loans are becoming very scarce compared with prior years. So, saying that it will take weeks for the dollar to wipe out does not make a lot of sense to me when there is that deflationary pressure.

Enron took 16 months to wipe out. Zimbabwe's currency took years to wipe out (it is now officially discontinued). So I suppose I'm basing the estimate that the dollar will take a couple years to wipe simply because that is what I've seen with other wipe-outs.

If the US government manages a miracle and does not end up printing trillions of dollars to run up the national debt, then there will simply never be any public support for the Amero. And by public support I mean something closer to 30% support like there was for the bailout when it was passed rather than the 10% or less support the Amero would get right now.

reply to post by mappam


The Euro is not my concern. The rest is all just BS. I'm self employed, can't buy a house because those people go on my adjusted gross income, I checked into assistance programs mainly for '#s and grins' and found out that I don't qualify because those people go on my gross income.

You can't win either way, but you can increase your odds. I'm working out a plan to drop out. As far as I'm concerned the world can kiss my butt, I'm no longer kissing it's butt.

I've already cut my costs to the bone (with the exception of internet connection), we are paying off our credit cards at an accelerated rate (denies the card companies interest income), and are stuffing away as much extra money as possible. I'm done, finished, kaput. Oh, I'll stay in business, but I will no longer be a slave to the system.

If there's some sort of currency exchange that makes my money worth less, but prices don't come down to meet that, then I'll have to think of another way.

But if it comes down to that, the people will wake up, and start voting with the gun box.

As it is, they can do what I did and vote with their dollars. I've said it before, and I'll say it again. The way is to cut spending, make the corporations hurt, and by extension make the 'powers that be' hurt. Use cell phones, and have a land line? Get rid of the land line. Use an antenna or the cheapest tier of cable for entertainment. Use coupons as much as possible, and if the people behind you get annoyed, screw em. Take every red penny you can, and put it in a box. Make your own tea, and take it with you instead of buying drinks from convenience stores or fast food places. Purchase only what is necessary. You don't need that iPhone, iPod, laptop (unless it's for work/business), pretty/shiny object, cook at home instead of eating out (the cheapest thing you can stand, it defeats the purpose to eat ribeye or t-bone steaks every day), take lunch instead of buying it, shop at the dollar stores, hell... shop at Wal-Mart if that's where you can get the lowest cost, purchase an item with a minor cosmetic defect if it gets you a lower price if you need that item, etc...

Oh, and buy guns and ammo, you'll need them. 22's are cheap, and effective despite what the cannon owners tell you. 12 guage shotguns are fairly cheap also. You won't need anyting long range, just something that fires projectiles.

Yip,utter twaddle.And that guys website is a joke...anyone who can actually take him serious is a bigger CT'er than me! Super CIA contacts,his banker buddy working with the rothschilds and rockefellers *etc* Ohh yeah very believable.Sounds like a paranoid right-winger to me...oh an his terrorist map.



I know it's slightly off topic but it gives you a taste of what the guy is about and the validity of the claims he makes.

I have only seen the word amero used once,can't remember what news channel it was or the guy that said it,either slip of the tongue or the guy was talking crap.I can't see america canada and mexico having one currency anytime in the future.It might happen in a few decades if the economic/political situation along with peoples attitudes are different.But definetly not within the next 10 years.


[edit on 17-8-2009 by Solomons]

reply to post by mappam


Please excuse me if I make this too simple. Some folks asked for simple.
I am not a stock wizard, but I have worked in finance over 25 years.

The bank holiday is not for the Fed to revalue your money.
That is the effect of the global currency market that does that.
We will divide the two issues to get clarity.

Imagine a Bank holiday is called on say a Thursday afternoon.
Now you stop at the gas station to fuel up.
You try to write a check at the counter. Denied.
You try your credit card or debit card. Denied.
You have some cash and get your gas. Success = cash is good.

You try to go to the bank for some more cash. Closed for holiday.
Now you must survive for an unknown amount of time cashless.

Happily, though you squirreled away $10,000 cash at home for emergencies. Cash is king on the streets.
Good thing you did not buy gold bars. People like cash.

Those few with gold cannot really spend it like your cash.
However, it will be their hedge against the second part, the devaluing of your cash.

Now the demise of your wealth happens. As word shoots across the world that the banks have collapsed, people try to get out of US dollars. The FDIC goes bust because it does not have enough funds to cover even two of the major banks let alone the hundreds that will fall. Check out the "stress test" results to "whiten" your hair a little.

Now we print (Fed Reserve) and borrow (Fed Gov) money to get into the hands of the people. Fed Gov now enters and takes over the banks and fills them with newly minted (borrowed) dollars. More money equals less value. In the meantime, those countries that buy our debt and dollars start unloading their holdings, because they are devalued. Negative feedback loop starts, more selling dollars and fewer buying dollars.

Banks reopen after a Seven-day holiday and all your money is there, and cash is in the bank just in case you want to pull it all out. Whew, that was scary! But, hey I did not lose my money! Green shoots really do happen!

However, when you go to buy anything you notice the prices have suddenly all gone up 100%.
Your dollar does not buy what it used to. Your $10,000 only buys ½ of what it should, but you think on the good side my mortgage did not change. And, I can pay for it with cheap dollars!

But wait, this sucks! I still earn $20 an hour but everything costs double! It is as if I earn $10 an hour and still have a family of five! Somebody help me. Starts thinking about Hamburger helper as main course.

All your cash is now used to buy staples at twice the price, can you still make the loan payment on said mortgage?

Back to our people with gold. After the bank holiday, because of fear gold has more than doubled in price. Now they can sell the gold they bought at $10,000 for say $20,000 and places cash back into bank. They will not suffer as much because they have more money, worth less in value but more is always better.

You have just been squeezed.
Welcome to the Greatest Depression.

reply to post by Absum!


Thanks for that explanation.

May I ask what is supposed to trigger this doomsday scenario?

I think you might want to see these graphs!
Look how much the FDIC now insures and the fund balances.

Is the FDIC Still Solvent? ATS

Originally posted by Rockpuck
It doesn't matter... if the FDIC were to have a negative ballance, the Federal Government or the Member Banks would re-fund the FDIC to keep it operational. The only way it wouldn't matter is if every major bank failed in the same year.. at which point the FDIC covering your savings is the least of your worries.

77 banks have failed, the largest being Colonial ..

www.abovetopsecret.com...

Which cost the FDIC under 3billion.

I agree inflation will soon be a problem from printing the Dollar.. but it won't effect the FDIC.

Also, it was 5 banks that failed on Friday.

in 2008 the FDIC removed $25 billion from the Trust and set it aside for emergencies that are expected through 2010.. the secondary Trust sits on the side, while the Banks are having dues increased to fund the Primary Trust. If all else fails, I think if we can loan 700billion to random projects and random banks we can send a few billion to the FDIC .. to not do so is political suicide. The ONLY risk you have from loosing money in a bank then, is through devaluation.

reply to post by Nivcharah

 

Originally posted by Absum!
reply to post by mappam

 

Please excuse me if I make this too simple. Some folks asked for simple.
I am not a stock wizard, but I have worked in finance over 25 years.

But wait, this sucks! I still earn $20 an hour but everything costs double! It is as if I earn $10 an hour and still have a family of five! Somebody help me. Starts thinking about Hamburger helper as main course.


You have just been squeezed.
Welcome to the Greatest Depression.

And H.H is not a main course here in the "Real World"

Nice info

Originally posted by schrodingers dog
reply to post by Absum!

 

Thanks for that explanation.
May I ask what is supposed to trigger this doomsday scenario?

It is not doomsday.
It is time to pay the tab.

It is the unnatural manipulation on the market system that has brought us to this point.
The fire hose of unlimited cash is almost empty.

The trigger for people that refuse to look at the cold hard numbers will be when the FDIC has no cash to bail out ONE bank.
Look on that link I posted, the 5th bank that failed on Friday sucked up 50% of the remaining FDIC fund.

So 70+ banks in 7/8 months. How many days before the next 5 failures and a zero fund?
They can borrow more cash, but the media will tell the people,
(cut to Brian Williams), "the FDIC insurance fund was depleted today."
It won't matter that they can refill it. Psychologically it will tip the apple cart.

I don't make the numbers, I just read them, but this is only my opinion.

Originally posted by Medieval1028
This type of bogus dribble needs to stop. Not only is it a figment of someone's imagination but could prompt people to do something detrimental. I forwarded a copy of this post to a friend who works for a US Senator on the Senate Committee on Banking, Housing, and Urban Affairs...who promptly stated that this is utter nonsense and feels that such lies could be dangerous. I really hope this poster gets a 'visit'

Wow. Way to be a good little Senator's helper. What else would they tell you? 'uh, yeah, Mr. Smith. We have our heads up our butts and your going to pay for it.'

So you felt it necessary to register today to make sure everyone on here knows you are a stooly, like to turn in your fellows for free thinking and think that silly topics have something to do with basketball?

If you have a friend that works for a U.S. senator, I'm not sure I like the looks of you.

I find it ironic that he used the term, "utter nonsense", and your icon displays in fact some real utter nonsense.
Am I imagining this or are there many more one day old members shooting down discussions that don't "fit the message" of the PTB?

Keep swinging that money maker!

reply to post by KSPigpen


Originally posted by Medieval1028
This type of bogus dribble needs to stop. Not only is it a figment of someone's imagination but could prompt people to do something detrimental. I forwarded a copy of this post to a friend who works for a US Senator on the Senate Committee on Banking, Housing, and Urban Affairs...who promptly stated that this is utter nonsense and feels that such lies could be dangerous. I really hope this poster gets a 'visit'

reply to post by Absum!


Well, I used to have a best friend who used to run a major private hedge fund out of Bermuda. If he didn't become the world's greatest jackass I could have asked him.

But ...

He was working with (not for, just coordinating) with Soros back during the BoE fiasco and later on when the southeast asian countries tried to fight them on artificially propping up their currencies. They didn't play ball so they took them down. This is all in stupid talk of course as I am not a financial dog.

I say the above for the following reason ...

I realise that the hedge fund market is much more restricted now that in "the good ol' days" but, they have capital at their disposal and the liquidity to move it that the moves themselves change markets. They LIVE for situations such as the one you describe above, If there was such a glaring hole you and I both know they'd be all over it.

Now, since I don't talk to my guy any more I have to ask you.

Is there such movement in those markets, hedge funds taking reflective positions, to foreshadow anything like what we're talking about?

As I said, I am not an investment dog, but I would say that looking at gold prices over a year ago and now; I suspect many groups moved then and are waiting for the other shoe to drop. I moved 50% of my investments to bonds last Thursday based on the P/E ratios being so "wacked". And todays open said I am not the only one. Better to lock in 50% gain this year than wait to see if the gains were real. I have 10 years to spare before returning to the market. If need be.

These are some strange times.
The green I see in the financial sector is mold.

Originally posted by schrodingers dog
reply to post by Absum!

 

Now, since I don't talk to my guy any more I have to ask you.

Is there such movement in those markets, hedge funds taking reflective positions, to foreshadow anything like what we're talking about?

reply to post by Evisscerator



How low can you go. I am going to vomit

www.x-rates.com...

reply to post by Tank2/8


Thanks a ton for that link. I think it really helps to put in perspective the decline of the dollar as compared to other currencies.

What I'm failing to understand is if there is anything we can even do about it at this point? I'd love to go buy a home and a car to stimulate the economy but I simply can't justify taking on any extra payments on top of rising interest rates and everything else.

I just don't see this ending in any way but the worst way possible...

reply to post by Absum!


Absum -- I agree with what you say.

Originally posted by SpacePunk
reply to post by mappam

 

The Euro is not my concern.

Well it could be a concern for me and others.

We have family in The Netherlands and because of this a way to "invest" in Euros.

IF international Banking is also effected then Euros would not be any better than dollars.....But if it is just the US Dollar then getting Euros Could help some of us.

Originally posted by truth/seeker
I agree with questioningall , IMO it would be wise to get your money out

of the banks before its to late, what have you got to lose.......alot! your

money!!! once the bank holiday takes place, part of your money will

be gone!!!

Also if hyperinflation hits you will want to own a fair bit of silver or gold,
and hide it VERY well.

Hyperinflation nation

Proof it is being done on purpose

You can also own other hard assets, like ammunition, guns, food, etc.

Think water, food, shelter, defense, survival type items, the basics.

Cache some stuff nearby and water tight, and out of sight.

[edit on 20-8-2009 by Ex_MislTech]