$114 Billion Withdrawn from big US Banks this month. Largest one week withdrawals since Sept 11/01

Why the largest one week withdrawals since Sep 11 2001?

More than $114 billion exited the biggest U.S. banks this month, and nobody’s quite sure why.

The Federal Reserve releases data on the assets and liabilities of commercial banks every Friday. The most current figures, covering the first full week of 2013, show the largest one-week withdrawals since the Sept. 11, 2001, attacks. Even when seasonally adjusted, the level drops to $52.8 billion—still the third-highest amount on record, and one for which bank experts and analysts were reluctant to give a definitive explanation.

I dont believe a word from the American Government or the American Banks. Who knows where this missing $114 Billion is? The article points to the end of the TAG Bail Out program finally coming to an end but then explains that this is not the reason for the missing $114 Billion withdrawn this month.

So if the missing $114 billion is not the result of the TAG program expiration—or at least not all related to TAG—what’s going on?

Regardless of the reason for the missing $114 Billion, this is yet another sign that highlights the direction of the US economy in 2013.

Still, $114 billion is a big figure, and it’s one to keep an eye on in order to understand where the economy is headed in 2013.

www.businessweek.com...

If you think that's something, wait until the Jan. Unemployment numbers are released in a short while. That'll be a real barn burner of a report if they don't cook the books.

No mystery here because the people who took it have been saying they would do precisely this since the election and confirmation that all which was supposed to come in Jan. for new taxes, payroll deductions and regulatory additions would actually happen.

When the going gets tough...the middle class get tougher or they fail and become poor. The rich? They just pack up their toys and go home while saying 'screw you all'. I don't know about everyone else but I've been reading them saying this on forums and news articles for at least a couple months now. It's only a surprise to me that they actually waited for the official Calendar change.

- oh...and you have the absolute all time record breaking gun sales to add to it. Where do you figure all that money came from? The majority with credit cards burned those to the max on living expenses a long time ago. They didn't buy too many of those millions of guns over the last 8-10 weeks.

Fiscal Cliff - media hubbub?

Why the largest one week withdrawals since Sep 11 2001?
More than $114 billion exited the biggest U.S. banks this month, and nobody’s quite sure why.

Bonuses - Lots of year-end bonuses for the 'bosses of the world'?

Maybe the gold Germany wanted back?

Maybe all the people who swore they'd leave the country if Obama won a second term finally made good on the threat.

Maybe everyone finally got tired of the banksters who haven't yet been indicted, tried and imprisoned and finally pulled their money out. Frontline just did a nice piece on the Too Big To Jail banks.

I've been thinking a bit more on this and it could also be the first signs of the more skittish or better informed on the inside of things pulling their money in the sense that the dollar's drop isn't that far off now.

I honestly don't expect we'll get much, if any warning if the dollar does go into a big plunge for some reason. All those with money benefit the most only if they're the only ones who know it's happening at least long enough to get out of paper dollars. By the time we mere mortals here about it all, I think it'll already be a self-feeding type of thing and moving real fast.

I guess this is one of the benefits of being a starving student and not being too far from the truth on that. I won't have anything of any measure to lose in a bank account. Not enough to have a life changing moment over, anyway. Those who do.....may want to watch things like this pretty close, I'd think.

Originally posted by stuntmanbob
Why the largest one week withdrawals since Sep 11 2001?

More than $114 billion exited the biggest U.S. banks this month, and nobody’s quite sure why.

The Federal Reserve releases data on the assets and liabilities of commercial banks every Friday. The most current figures, covering the first full week of 2013, show the largest one-week withdrawals since the Sept. 11, 2001, attacks. Even when seasonally adjusted, the level drops to $52.8 billion—still the third-highest amount on record, and one for which bank experts and analysts were reluctant to give a definitive explanation.

I dont believe a word from the American Government or the American Banks. Who knows where this missing $114 Billion is? The article points to the end of the TAG Bail Out program finally coming to an end but then explains that this is not the reason for the missing $114 Billion withdrawn this month.

So if the missing $114 billion is not the result of the TAG program expiration—or at least not all related to TAG—what’s going on?

Regardless of the reason for the missing $114 Billion, this is yet another sign that highlights the direction of the US economy in 2013.

Still, $114 billion is a big figure, and it’s one to keep an eye on in order to understand where the economy is headed in 2013.

www.businessweek.com...

edit on 24-1-2013 by stuntmanbob because: (no reason given)

edit on 24-1-2013 by stuntmanbob because: (no reason given)

edit on 24-1-2013 by stuntmanbob because: (no reason given)

This is interesting, because just the other day I listened to a Hagmann & Hagmann Show on YouTube, with guests Steve Quayle and his contact "V." This "V" wanted to stay anonymous, since he's supposedly a big-time trader with a big-name bank/company, whatever. He said that the big banks have basically written off the Japanese economy and markets because a near-term total collapse of Japan is inevitable... and Japan will be the first domino to fall in a chain reaction -- next will be the Eurozone and the US. Japan is the third-largest holder (previously buyer, but not anymore) of US government debt, aka Treasuries. If they go down, the US will definitely follow, said "V." I can see that happening. On the show, he said it could happen next week, it could happen within the next one or two years, no one knows... but now that Japan is starting to do a QEternity like the US, the end might be near.

Could be that the "in the know," smart money is smelling a rat and already pulling its money out of the banks, before the next big collapse.

Originally posted by Wrabbit2000
I've been thinking a bit more on this and it could also be the first signs of the more skittish or better informed on the inside of things pulling their money in the sense that the dollar's drop isn't that far off now.

I honestly don't expect we'll get much, if any warning if the dollar does go into a big plunge for some reason. All those with money benefit the most only if they're the only ones who know it's happening at least long enough to get out of paper dollars. By the time we mere mortals here about it all, I think it'll already be a self-feeding type of thing and moving real fast.

I guess this is one of the benefits of being a starving student and not being too far from the truth on that.

I won't have anything of any measure to lose in a bank account. Not enough to have a life changing moment over, anyway. Those who do.....may want to watch things like this pretty close, I'd think.

I think you're right. I'm working for an investment research biz, and we've been telling people to diversify, diversify, diversify, get some of your money out of the country... and ideally get yourself a second residency (in another country) if possible. A lot of my bosses and their famous investment guru friends are setting up shop in Argentina now. I sure can't afford that, but what you can do, even with just a little money, and what I'm doing, is:
- stock up on food for a rainy day
- open an account at www.silversaver.com and buy silver every week (you can start with as little as $25 a week, which I'm doing), then, when you have accumulated some, take delivery of it, and keep going

i think at least some of the fat cats see the dollar collapse coming sooner than later....
and thats the reasonig for the accellerated withdrawls from existing deposits...


here's a YT about the collapse being within the next 4 months ( by my counting that would be June 2013)

www.youtube.com...#!


this 16:04 video is from the thoughts of John Williams of 'Shadow Stats' being interviewed
(now that signals this ain't just fluff, hyperbole, fear-mongering being uttered...) this is nitty-gritty stuff !





oh...Sylvie

hows that silversaver.com thing working for you?
i looked and its a BBB rated business, but what really nullified my enthuasism was the magic-hand waving 'pricing' formulka that didn't deduct shipping costs in dollars but in reducing the actual metal you had supposedly owned already...above the + 7% fee for a $25 week buying program

i feel i can do better locally than the site you cited, heck even the famous PM seller KITCO won't have you paying $60 oz for $31. spot silver ttl: $41 shipped

precious metals, guns and usable goods is where those billions in fiat's went. they be buying all the gold they can find these days, above and under the table.

taxes, fiscal cliff, republican congressmen trying to scuttle economy by a stop-gap debt limit revisit soon, S&P 500 record high might signal a buy in the stock market....and of course, the constant threat of apocolypse here on ATS....

This video will really explain what's going on

reply to post by St Udio


I like the John Williams video. He is pretty accurate on the assumption he makes. I feel this whole thing is going to come to a head this year sometimes. A country based on deceit cannot survive. Look at history, people eventually wake up.