Dominos are starting to fall... First Cyprus, now New Zealand

I think we should create the CMF, Citizens Monetary Fund. If its ok for banks/governments to rob peoples money to feed themselves, then it should be fine for me and anyone in the CMF to walk into a bank, help myself to some cash and walk out to feed me too.

Of course, if I was to do that I'd be in prison in a second...hmmm...double standards.

Seriously though, I don't even know where to start with this entire debacle. I do feel though like many others, that this is the final stage of the banking collapse and the rest will now swiftly follow. I also feel that it may also be engineered, as while the world is full of stupid people, especially in positions of authority, I don't think for one second that these same idiots are THAT stupid to assume that it wouldn't create a ruckus.

You can only patch up a sinking ship so far, then it's time to bail and hope you have a life raft handy. I think it may have got to that point, and these guys in charge know it. They are creating the suitable conditions where they can leave said ship and have the excuse of "well we tried...not our fault".

I think from now on all banksters, goverments and anyone else remotely linked to this fiasco should be force fed the conservation of energy rule book and told it applies to money also....specifically "Something can not be created out of nothing"....fiat currency for a damn start!

reply to post by FissionSurplus
could not agree more. glad to know there's someone close to me in texas with half a brain.

Originally posted by jimmiec
This will happen in America. It is just a matter of time. Socialism is great until you run out of other peoples money.

It could, but it has nothing to do with "socialism", but rather unconstrained capitalism is what toppled the first domino..

We checked a few days ago what would be the blood theyd squeeze if we liquidated an old 401K we had hanging around that held right at 14K. Taxes?? We would receive 11K of the 14 K... plus regular taxes taken out Bastards. Think thats ridiculous?? I lose about $8 per quarter on the 401k because I'm only getting simple interest on it and then fees are deducted from it.

Anyone have some tar, feathers, and a rail laying around???

reply to post by redtic
i think you're refering to corporatism. banks should be allowed to fail without the resposibility being thrown back on the tax payers. why should tax payers be held responsible for a bank?

Originally posted by solongandgoodnight
reply to post by redtic

 

i think you're refering to corporatism. banks should be allowed to fail without the resposibility being thrown back on the tax payers. why should tax payers be held responsible for a bank?

I agree the bank bailout was ugly, but how did the banks get in that state? And should they have? I think capitalism is fundamentally a good system, but unrestrained, under-regulated, and corrupted, it's can become an ugly beast..

reply to post by OptimusSubprime


Thus begins, the NEW WORLD ORDER!

Originally posted by daryllyn
I have some advice that differs from the advice I have seen on this thread.

By all means, keep your money out of the bank, but, I wouldn't run out and spend it all on silver/gold.

You can't eat silver.

It won't be a bad idea to have some on hand, but, other things will be just as useful when it comes to trading for things you will need.

Instead, try to make yourself as self sufficient as possible. Plant a garden, raise some livestock, learn to can/preserve food, learn some actual skills, find alternative sources for heat/energy, etc. Do everything you can to lessen your dependence on the system.

If you get into those habits and start living the lifestyle now, the blow will not be as bad if/when the financial poo hits the fan.

I agree... if someone has money saved, they should look into storeable food, water filtration, etc...etc... Once they have that taken care of then and only then get into silver and gold if you can afford it.

Originally posted by Advantage
We checked a few days ago what would be the blood theyd squeeze if we liquidated an old 401K we had hanging around that held right at 14K. Taxes?? We would receive 11K of the 14 K... plus regular taxes taken out

Bastards. Think thats ridiculous?? I lose about $8 per quarter on the 401k because I'm only getting simple interest on it and then fees are deducted from it.

Anyone have some tar, feathers, and a rail laying around???

First of all... the only, and I mean ONLY good thing about a 401(k) is the employer match. That's it. The investments offered through most 401s, such as the stock index funds and bond funds, are marginial at best. My point is that if you have an old 401 from a previous job then convert it over to an IRA or some other form of investment in order to make your money work better for you. I emptied my 401 last year and went Doomsday Prepper with it. They take taxes out when you do the withdrawl, and then when it comes time to file your taxes at the end of the year you must claim the withdrawl and pay the associated penalty for early withdrawl. I hated doing that, especially since it amounts to being taxed twice on the same money, but having what was left is better than having nothing at all, because I believe that the Fed Gov will be along shortly to "nationalize" the private retirement system in America, and then you can literally kiss all of that money good bye.

Did anyone mention that Ruskies hold an estimated €25bn in Cyprus banks ?!

Nothing important, just a minor detail

Doesn't a bank confiscation of private cash prove that an economic collapse isn't coming???

A crash means those paper dollars would be worthless. So why would the bank be hoarding them? Even if they were going to turn them around and immediately buy hard assets like gold, the gold dealers would know what is going down and wouldn't want to be stuck with worthless paper either.

Now, if the banks are opening safe deposit boxes and stealing the gold out of them, well...that's a different story.

So, here I am in sweet NZ, having just returned from spending all my dosh overseas, and am now waaay overdrawn...

Those people with savings get their dosh nicked by the govt?
What happens to those who owe the bank money? Do we get given some?

Woohoo, that would be cool.

Originally posted by OptimusSubprime

Originally posted by daryllyn
I have some advice that differs from the advice I have seen on this thread.

By all means, keep your money out of the bank, but, I wouldn't run out and spend it all on silver/gold.

You can't eat silver.

It won't be a bad idea to have some on hand, but, other things will be just as useful when it comes to trading for things you will need.

Instead, try to make yourself as self sufficient as possible. Plant a garden, raise some livestock, learn to can/preserve food, learn some actual skills, find alternative sources for heat/energy, etc. Do everything you can to lessen your dependence on the system.

If you get into those habits and start living the lifestyle now, the blow will not be as bad if/when the financial poo hits the fan.

I agree... if someone has money saved, they should look into storeable food, water filtration, etc...etc... Once they have that taken care of then and only then get into silver and gold if you can afford it.

As long as they do not re-issue the currency all is good and actually better for those who stuff their mattress for those bank holidays.

Regards, Iwinder

There's a reason why our grandparents hid some of their hard earned cash in their mattresses, folks. Unfortunately for them, they didn't learn that until after the fact.

We need to take these lessons learned from the older generation(s) and apply them to ourselves, now, today. Because what they experienced back then is going to be seen as a cakewalk compared to what we're going to be living through in the very near future.

So what's the best strategy ?

Start taking bits of money out of your accounts, dollar by dollar, bit by bit, day by day. Use some of it to set up self-sustainability (food, water, supplies, skills, etc) AND some precious metals for when paper money does become useless. But be sure to also keep some cash stashed away "in your mattress" because we do still live in a paper society and will continue to be for quite a while yet.

Keep just enough money flowing in your bank accounts to cover the bills. If nothing else, you can at least take comfort in knowing that these SOB's aren't using any of your money to play their casino games because there isn't any there for them to dip in to.

Why the hell would anyone in their right mind want to continue to feed their pockets by way of our "investments" and "savings" ?! Just to earn a little lip-service interest ?! Please. You're better off saving your money in a friggin' coffee can.

Yes that's right... I'm talking about a secret little stealth-like bank run on an individual basis... quietly, discreetly.

To hell with what a "bank run" would or wouldn't do to the economy. The economy is going to crash no matter what we do or don't do anyways, folks. It's inevitable and past the point of no return. So you need to worry about you and yours because when the cookie crumbles, nobody will be there to save us but ourselves. Do what you need to do in order to keep your family's head above water when the storm surge hits.

Just be sure to do it quietly in small amounts, ahead of the rest of the pack, without setting off any alarms per se.

The simple fact that there are countries even considering a "tax levy" on depositors' personal funds to bail themselves out should speak volumes enough to make us all stand up and pay attention. These SOB's have every intention of doing whatever it takes to save their sorry asses from the mess they've gotten themselves into... even if it means robbing us all blind and crashing the entire global economy in the process.

Use this opportunity of warning to prepare yourselves for the ugly that awaits us. The better you're prepared, the easier it'll be to ride out the storm when it finally does arrive.

And it will arrive.

So step out of your denial comfort zone in thinking that this can't happen... Lest we forget, our grandparents also believed it couldn't happen to them either.

Originally posted by bjax9er
reply to post by MrSpad

 

your precious socialism, is the biggest failure man has ever witnessed...

Actually I think capitalism is about to top it... spectacularly!

Originally posted by bjax9er

who is confiscating this money?
the GOVERNMENT.

well at least one person doesn't know what that word means.

do the people own the means of production?
well the banks were nationalized, and considering the people elected the representatives in government, to represent them, and their banks.
then yes it is socialism.

Capitalism is King[

Socialism is not about the government, its an economic system.

I don't know why I even bother, you've had it explained but only want to choose a definition that makes your "king capitalism" as you call it, look good.

do the people own the means of production?
well the banks were nationalized, and considering the people elected the representatives in government, to represent them, and their banks.
then yes it is socialism.

What twisted logic. Elected officials is not worker ownership. You have to ask, does everyone right down to the janitors at these banks own a part share? Are they as well as tellers, calls people, etc. all democratically voting on decisions made by the banks?? Are the heads of the banks elected by workers and then subjected to recall at any moment by popular vote from workers?

No?

Then you don't have workers owning and controlling their means of production.

Russian energy giant Gazprom has offered the Republic of Cyprus a plan in which the company will undertake the restructuring of the country’s banks in exchange for exploration rights for natural gas in Cyprus’’ exclusive economic zone, local media reported.

Representatives of the Russian company submitted the proposal to the office of Cypriot President Nicos Anastasiades on Sunday evening, Sigma TV reported.

The proposal states that Gazprom will fund the restructuring of the country’s crippled financial institutions in exchange for substantial control over the country’s gas resources while Cyprus won’t need to take the harsh bailout package offered by the EU.

greece.greekreporter.com...

well, there is more then one way to get at someone's natural resources
this is the old extorsion method....just a thought

If everyone pulls their money out of all the banks at once, a large run on the bank (which is pretty hard because there’s steps in place to try to avoid it like just plain refusing to hand people’s money over) it would create a large recession followed by a depression as businesses would go under and millions would be out of work. Without banks, where and how can businesses gain the capital and loans they need to operate? How can normal people gain the capital to build a house? They won’t be able to. As evil, greedy and as f*cked up as banks are, it’s very hard to imagine life without them. I think in theory banks are a good idea as capital and lending is needed otherwise no one would be able to do anything; how long would it take you to save enough money to buy an average house outright without a loan? Twenty, thirty boring holiday-less years? That’s probably based more on the ridiculous house prices where I live (About A$555,000). The US average is a tick under $300,000 (lucky f*ckers, though I don’t know how affordable that is for the US people). They say an affordable housing market is one where the houses average about four times the average wage. In Australia, on average, we’re at about nine to ten times the average wage.

Greed is the biggest culprit. Being in charge of a bank almost gives people an excuse to abuse it. Then, as they have the world’s governments in their pockets, they are bailed out when things go south, retain or increase their multi million dollar incomes and continue on while leaving millions of people in debt or bankrupt. They’re scum, no doubt about it. Governments need to get tough on them. Jail or execute the crooks. No more bailing out, which is another method of avoiding a bank collapse which would then lead onto a run as people would see a bank crash and panic and withdraw their money and it just flows on from there. So the no bailing out is a trickery one...

Originally posted by jimmiec
This will happen in America. It is just a matter of time. Socialism is great until you run out of other peoples money.

This is privatizing gains and socializing losses. That's not capitalism or socialism. It's a hybrid system where one side never loses and the other always loses. In true capitalism there's risk when you use your money. If you use it unwisely you lose it and end up bankrupt. In this system the banks can take ridiculous risks, keep any profits they get from that, and then if the risk ends up harming them they get reimbursed. It's risk where the downside is applied to another party instead, but you keep all of the upside.

Originally posted by redtic
I agree the bank bailout was ugly, but how did the banks get in that state? And should they have? I think capitalism is fundamentally a good system, but unrestrained, under-regulated, and corrupted, it's can become an ugly beast..

I think we're seeing the failure of capitalism here. Communism failed due to human nature, capitalism is about to fail due to that same nature. A system only works when everyone is playing by the same rules. In the case of the banks, they managed to accumulate so much power that they're now playing by a different set of rules. We could still save the system, but it would essentially mean starting over and then writing a bunch of regulation to prevent any one entity from gaining too much power.

reply to post by CrikeyMagnet


Funny that - I live in NZ and nothing of the kind is happening - yet!