Is Bank of America preparing for a Chapter 11?

Is Bank of America preparing for a Chapter 11?

www.reuters.com

Bank of America has managed to step into the kimchee several times over the past couple of months, an achievement that only warms the hearts of crisis communications professionals. First came the abortive settlement of $10 billion or so in put-back claims by some large investors. The State of New York and anyone else paying attention intervened. Settlement is now mostly muerto in political terms, although the big investors are still paying the big lawyers to soldier on in hope of forcing a se

(visit the link for the full news article)

This is getting quite scary
if BofA files a chapter 11 and we all know FDIC is already bankrupt then what happens?

It's scary to think what will be happening but one thing is for sure
Something is most definately happening, I think the clock has been pulled for a switch to be switched on earlier than anticipated as there are people who are starting to wake up.

They may be thinking something needs to be done now while many people are still in their slumber

www.reuters.com
(visit the link for the full news article)

Wait wait wait... AGAIN?!

LET THEM FAIL. "Too big to fail"? Yeah right. This is twice now and if Congress or the Federal Reserve bails them out with my tax money again I'm gonna be furious...

Originally posted by ArrowsNV
Wait wait wait... AGAIN?!

LET THEM FAIL. "Too big to fail"? Yeah right. This is twice now and if Congress or the Federal Reserve bails them out with my tax money again I'm gonna be furious...

This is different

This can mean massive inflation, as in hyperinflation which is how Hitler got into power
It can also mean no more cash money, only credit card and debit transactions with big brother seeing it all and keeping all transactions in some echelon server

If you have cash or investments with them you had better get them out. This move only signals they are in trouble, and the FDIC cannot handle that large of a loss.

This could be the trigger that starts the martial law segment of the FEMA camp plan. Think about it, if this bank goes under, the repercussions are enormous. Millions of Americans without access to funds would bring such violence and protests, OWS would look like a kindergarten field trip.

Originally posted by ModernAcademia

Originally posted by ArrowsNV
Wait wait wait... AGAIN?!

LET THEM FAIL. "Too big to fail"? Yeah right. This is twice now and if Congress or the Federal Reserve bails them out with my tax money again I'm gonna be furious...

This is different

This can mean massive inflation, as in hyperinflation which is how Hitler got into power
It can also mean no more cash money, only credit card and debit transactions with big brother seeing it all and keeping all transactions in some echelon server

How does BoA failing mean hyperinflation?

Originally posted by Rockdisjoint
How does BoA failing mean hyperinflation?

Specifically because of this:
www.abovetopsecret.com...

So here's how things could play out.

BoA goes under, FDIC can't bail them out, not enough cash. So, now the populace gets outraged, and riots ensue. Martial law is instituted to restore order. During martial law, elections are suspended, leaving Obama in office for the duration.

Scared yet?

Originally posted by ModernAcademia

Originally posted by ArrowsNV
Wait wait wait... AGAIN?!

LET THEM FAIL. "Too big to fail"? Yeah right. This is twice now and if Congress or the Federal Reserve bails them out with my tax money again I'm gonna be furious...

This is different

This can mean massive inflation, as in hyperinflation which is how Hitler got into power
It can also mean no more cash money, only credit card and debit transactions with big brother seeing it all and keeping all transactions in some echelon server

I still say let them fail.

If they can't run a business well enough without having to be bailed out TWICE, then they need to fail. Obviously they didn't learn their lessons the first time.

And hyperinflation would not come from the bank failing, it would come from the Govt printing or creating an assload of more money for the banks CEOs to bathe in.

"Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply." - Inflation Wiki

Originally posted by ModernAcademia


This is getting quite scary
if BofA files a chapter 11 and we all know FDIC is already bankrupt then what happens?

It's scary to think what will be happening but one thing is for sure
Something is most definately happening, I think the clock has been pulled for a switch to be switched on earlier than anticipated as there are people who are starting to wake up.

They may be thinking something needs to be done now while many people are still in their slumber

www.reuters.com
(visit the link for the full news article)

FDIC is backed by the Treasury and their for backed by the FED’s. Last i remember BofA has 1.2 Trillon in deposits. so the FED will have to print 1.2 trillon dollers to make good on the FDIC insurance. Once that happens you will have a 25% increase in the money supply over night..... 25% inflation will hit america over night!!!!

you should be scared!

Originally posted by haarvik
If you have cash or investments with them you had better get them out. This move only signals they are in trouble, and the FDIC cannot handle that large of a loss.

I have one BOA business accnt left with a $5.97 balance.. Im waiting until Nov 5 to close it.. iof they balk they can keep the $6.

This could be the trigger that starts the martial law segment of the FEMA camp plan. Think about it, if this bank goes under, the repercussions are enormous. Millions of Americans without access to funds would bring such violence and protests, OWS would look like a kindergarten field trip.

edit on 10/19/2011 by haarvik because: (no reason given)

No Martial Law will happen.

We still have the right to bear arms.
There are waaaaaaay too many guns here for that to even be a reality.
More Guns and gun owners in the US than any 3 armies in the world.
Our entire military would not go for this either.
They will need to strip us of our guns to even begin to think about Martial Law, and even then it would be civil war with no clear outcome.
Not gonna happen.

reply to post by ModernAcademia


your link is dead good sir.

I really dont understand why BofA doesnt just sell countrywide for $1 to some shell company and let them take all the losses etc, removing country wide from BofA balance sheet will show them to be an otherwise strong bank, I think.

I think we need hyper-inflation because it is obvious to me that TPTB do not care.
Let us all experience it and then perhaps changes will be made so that it never happens again, because it looks to me like that will be the only way change will come, through destruction of the system.

You must destroy before you can rebuild.

reply to post by BadNinja68


Oh naive one. Do you really believe that all the gun owners of this country will stand and fight their own military? We are a bunch of woosies, and all they have to do is push some propaganda piece out on the boob tube and 75% of American nitwits will believe it. Heck, they'll have neighbors turning in neighbors in name name of "patriotism".

Originally posted by ArrowsNV

Originally posted by ModernAcademia

Originally posted by ArrowsNV
Wait wait wait... AGAIN?!

LET THEM FAIL. "Too big to fail"? Yeah right. This is twice now and if Congress or the Federal Reserve bails them out with my tax money again I'm gonna be furious...

This is different

This can mean massive inflation, as in hyperinflation which is how Hitler got into power
It can also mean no more cash money, only credit card and debit transactions with big brother seeing it all and keeping all transactions in some echelon server

I still say let them fail.

If they can't run a business well enough without having to be bailed out TWICE, then they need to fail. Obviously they didn't learn their lessons the first time.

And hyperinflation would not come from the bank failing, it would come from the Govt printing or creating an assload of more money for the banks CEOs to bathe in.

"Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply." - Inflation Wiki

edit on 10/19/2011 by ArrowsNV because: (no reason given)

your incorrect, look at the dominos effect if BofA failed, FDIC is backed by the Treasury and their for backed by the FED’s. Last i remember BofA has 1.2 Trillion in deposits. so the FED will have to print 1.2 trillion dollars to make good on the FDIC insurance. Once that happens you will have a 25% increase in the money supply over night..... 25% inflation will hit America over night!!!!

you should be scared!

reply to post by haarvik

yep...that thought has crossed my mind.....but, I have faith in my fellow Americans, and this will not fly......

No no and no, buffet will come in and say give me more

Buffett invests $5bn
The bank has sold 50,000 preferred shares to Buffet at price of $ 100,000 each.

Buffet, chairman of Berkshire Hathaway, has also been given warrants to buy 700 million common shares of the bank at a price of $ 7.14 each over the next 10 years if the “BAC” shares rise.

will find the link copied this not the link, ops ok here is the link www.themoneytimes.com... so you see BOA will not file for chapter 11, it will be bought and then sold, back to buffet.

Originally posted by ModernAcademia

Originally posted by Rockdisjoint
How does BoA failing mean hyperinflation?

Specifically because of this:
www.abovetopsecret.com...

Your link doesn't work.

Its been removed.

I agree with, ArrowsNV.

Let them fail.

reply to post by Rockdisjoint


very odd. I went to it as soon as it was posted and it worked. Another odd thing...right after you posted the two BoA stories, the site came to a crawl. Probably not related, but still very strange.