Get ready AMERICA (and England)... here comes the "haircut"!!!!

reply to post by Bilk22


Good post and simply put....But it looks like you are going to have to shout "Freedom" a bit louder there William.
Rainbows
Jane

Originally posted by CaticusMaximus

Originally posted by OptimusSubprime

They should also assign losses to shareholders and unsecured creditors in the group, thereby avoiding the need for a bailout by taxpayers.

Unsecured means above the FDIC insured limit, right? Someone correct that if its wrong.

Well I know that the little plaque at the bank window the last time I looked, said deposits were insured up to 250k.

I sure as hell dont have over 250k sitting around collecting dust in a bank hard drive...

... do any of you?

If not, you have nothing to worry about.

Does your employer? If they sack the money from your employer's accounts, how are you going to get paid? So, I would be very very concerned.

Originally posted by angelchemuel
reply to post by Bilk22

 

Good post and simply put....But it looks like you are going to have to shout "Freedom" a bit louder there William.
Rainbows
Jane

Yeah well I've been trying Named my dog William Wallace too

Originally posted by CaticusMaximus

Originally posted by OptimusSubprime

They should also assign losses to shareholders and unsecured creditors in the group, thereby avoiding the need for a bailout by taxpayers.

Unsecured means above the FDIC insured limit, right? Someone correct that if its wrong.

Well I know that the little plaque at the bank window the last time I looked, said deposits were insured up to 250k.

I sure as hell dont have over 250k sitting around collecting dust in a bank hard drive...

... do any of you?

If not, you have nothing to worry about.

edit on 3/29/2013 by CaticusMaximus because: (no reason given)

No- all your deposits are subject to this. In fact, they don't even belong to you - you are merely an un-secured creditor of the banks (don't know whether or not that is true for Credit Unions). I refer you to an earlier thread on this very subject with a better source and analysis. And a better alternative.

Aren't we supposed to use the search function? Doesn't work very well at all I'm finding.

www.abovetopsecret.com...

Originally posted by stormcell

There's another website which did an interview with a medium sized IT company in Cyprus (So What's it like to be a company in Cyprus just now?). The company had 800,000 Euros in their business bank account. The IMF deal meant that 700,000 Euros of that was blocked to be reappropriated to the creditors. The company is left with 100,000 Euros. They can't pay their staff, accept new business or even supply existing customers. They have no option but to go bankrupt.

If you are going to post this incendiary **** you have to post a source for it - preferably three. I think you made this up simply to infuriate people.

Originally posted by watcher3339

I guess that I would like to think that smaller, more local banks (where they still exist) are safer. That they are safer both because of the types of products they have pushed and the types of investment positions that they have taken. Then, their size alone indicates that FDIC would be able to cover a smaller bank if it were an isolated situation. But the big guys....They are all overlapped in investments and if one goes it could have a very negative impact on others.

National or State banks run as a Public Utility would work just fine.

As stated in the Thread "Why Is Socialism Doing So Darn Well in Deep-Red North Dakota?"
at

www.abovetopsecret.com...

Originally posted by syrinx high priest
so the website that sells gold and silver is saying we should buy gold and silver

k

There are better sources (less self serving) for this article or others like it.

www.abovetopsecret.com...

webofdebt.wordpress.com...

truth-out.org...

The story orginated a the WebofDebt blog by E H Brown who also published a book of the same name "Web of Debt"

Originally posted by Bilk22
reply to post by OptimusSubprime

 

I've stated this before - the bailout in '08 was already a haircut as our government handed the banks OUR MONEY - some which didn't even want to accept it but were required to. Then we further got another haircut when the markets receded, devaluing everything from equities to real estate. Others lost even more when they couldn't keep up with their mortgage payments and the banks took their homes. Now they have made it law they can just reach into our savings and take that too. This is just out of control

This has not been made a law, it is merely a finding.

A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.

www.alternet.org...

reply to post by seeker1963


They already have a god, its called money

reply to post by OptimusSubprime


That was a great report.

www.theeconomicblog.com says the same. But there are debts in there list.
Some Banks have been leveraged 2100 to 1. Now how'd that happen? No one watching them gamble away. But someones got to pay. So, I got 100,001.oo in Bank. they take 60% leaves 40% to be taxed again that year. I got 999,001.00 in Bank and they take 4% What da ya do? You break it up among your family now.

Originally posted by FyreByrd

Originally posted by Bilk22
reply to post by OptimusSubprime

 

I've stated this before - the bailout in '08 was already a haircut as our government handed the banks OUR MONEY - some which didn't even want to accept it but were required to. Then we further got another haircut when the markets receded, devaluing everything from equities to real estate. Others lost even more when they couldn't keep up with their mortgage payments and the banks took their homes. Now they have made it law they can just reach into our savings and take that too. This is just out of control

This has not been made a law, it is merely a finding.

A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.

www.alternet.org...

Care to explain? I thought they recently approved a bill that would guarantee the banks and not necessarily the depositors, survivability. How one can exist without the other? I have no idea. Always thought banks needed depositors. Guess now all they need is funds from taxes handed to them by our elected officials.

Originally posted by Bilk22

Care to explain? I thought they recently approved a bill that would guarantee the banks and not necessarily the depositors, survivability. How one can exist without the other? I have no idea. Always thought banks needed depositors. Guess now all they need is funds from taxes handed to them by our elected officials.

edit on 30-3-2013 by Bilk22 because: (no reason given)

If you can show me a source or some other proof, I'll be happy to be wrong. The source I quoted follows the economy and would have mentioned if it was law and didn't; so, until I see otherwise, I'm going to take the word of someone with their feet in the game over a poster here on ATS without sources.

I figured we'd start to see this happen here. It won't happen right away but we are being softened up for this.

Why people still keep their money in banks is beyond me. Talks of negative interest rates, stealing an undetermined amount of money from peoples accounts, make me wonder why people still keep their money there in the first place.

Interest rates are almost non existent at this time and along with what I stated above its time for people to buy safes and keep their money protected at home.

If people withdraw all their savings banks might crumble, but screw em. They have stolen our money for long enough. They deserve to fail.

People need to wake up and do what Iceland did. Kick the corrupt bankers out of their country and start a new.

Just my 2 cents.

I wish they would stop using the term ''haircut'' ,you feel good after a haircut ! you dont feel good after someone just took your money ,and you had absolutely No say in it ! Like the Bolsheviks in the Ukraine taking all the farms ,the Politicans and Bankers get away with whatever they like ,in years to come they will be taking everything ,houses ,realestate .land ,farms .livestock ,then when thats all gone, they will turn their attention ,to the Religions with all their wealth ,gold ,etc and strip them bare ,not that anyone will mind that, when everyone is in the desperate situation that they will be in ,no food, no nothing ,and little to live for anymore

reply to post by FyreByrd


No it is correct...it is buried in one of the several threads on Cyprus somewhere, where the chap who had his assets frozen even put up a screenshot of the bank statement/letter.

Here's another example for you...

''Very bad, very, very bad,'' says 65-year-old John Demetriou, rubbing tears from his lined face with thick fingers. ''I lost all my money.''
John now lives in the picturesque fishing village of Liopetri on Cyprus' south coast. But for 35 years he lived at Bondi Junction and worked days, nights and weekends in Sydney markets selling jewellery and imitation jewellery.
He had left Cyprus in the early 1970s at the height of its war with Turkey, taking his wife and young children to safety in Australia. He built a life from nothing and, gradually, a substantial nest egg. He retired to Cyprus in 2007 with about $1 million, his life savings.
He planned to spend it on his grandchildren - some of whom live in Cyprus - putting them through university and setting them up. There would be medical bills; he has a heart condition. The interest was paying for a comfortable retirement, and trips back to Australia. He also toyed with the idea of buying a boat.
He wanted to leave any big purchases a few years, to be sure this was where he would spend his retirement. There was no hurry. But now it is all gone.
''If I made the decision to stay, I was going to build a house,'' John says. ''Unfortunately I didn't make the decision yet.

''I went to sleep Friday as a rich man. I woke up a poor man.''

His money was all in the Laiki ''Popular'' Bank which was the main casualty of Cyprus' bailout package set by the European Union. Laiki is to be dismantled. Savings of less than €100,000 are to move to the Bank of Cyprus. Anything more than that will almost certainly be wiped out as the bank is wound down, its remaining assets taken by the bank's creditors.
Last week he heard a rumour that the bank was in trouble and went into Aiya Napa to ask his bank manager - a friend - if he should move his life savings.
''There's no problem, nothing to worry about,'' he was told.
Not so. ''I go to bed and I can't sleep. I walk around, I have a coffee. I am thinking about my family.''
John's tears flow. As he chokes up, his son George, who moved to Cyprus in 1990, explains.

''The whole family, we used to work at the markets. I would work at the markets on the weekend to help my parents while my mates were off having fun. Honest work in honest jobs. Now all that hard work is paying the debts of other people and the government. It's disgusting, to be honest.''
George says he can start again - if things get worse he and his family might move back to Australia.
''But not my dad. He can't go back to Australia. He is not allowed to fly because of his heart, and anyway where would he live? He has no house. He will have €100,000 left to live off. Soon he's not going to have a cent to his name.''
John has a thin hope. His money was sitting in the bank in Australian dollars instead of euros, so he wonders if it would be exempt from the bank's collapse. But the bank's doors are closed, so he doesn't even know to whom he should put that argument.
''For the moment I am 'sitting on charcoal', as they say,'' waiting to see if he gets burnt.

''It's not Russian money, it's not black money. It's my money.''

There are almost 5000 Cypriot-Australians on the island. Most are - or were - self-sufficient veterans of the 1950s engineering boom or the 1974 war who came back to retire or to be with family (John is looking after his 90-year-old mother).
This week Britain stopped paying pensions into Cypriot accounts, advising expatriates to open a British bank account instead.
Australia's high commission in Nicosia has already fielded inquiries from dual nationals seeking advice on their pensions. They were told to set up different payment arrangements, a spokeswoman for the Department of Foreign Affairs and Trade said.

''We expect the main impact will be for Australians who have invested large sums in Laiki Bank or the Bank of Cyprus,'' she said. ''There is no need for special measures at this stage.''

www.zerohedge.com...

But yes...a link would have been useful.
Rainbows
Jane

Originally posted by Bilk22

Originally posted by angelchemuel
reply to post by Bilk22

 

Good post and simply put....But it looks like you are going to have to shout "Freedom" a bit louder there William.
Rainbows
Jane

Yeah well I've been trying

Named my dog William Wallace too

Your dog's my hero!
Rainbows
Jane

PS best gat back on topic...or FireByrd will be wanting a piccy otherwise your dog doesn't exist!

reply to post by Bilk22

Care to explain? I thought they recently approved a bill that would guarantee the banks and not necessarily the depositors, survivability. How one can exist without the other? I have no idea. Always thought banks needed depositors. Guess now all they need is funds from taxes handed to them by our elected officials.

The fascist gang is always one step ahead of us ~ automatic deposits from whatever sources of income might yet be available to loot.

ETA: We can no longer CHOOSE whether or not to deposit our paychecks in the bank, they do it "for" us.

Originally posted by daryllyn
reply to post by avatar01

 

buy silver

But, you can't eat silver.

I would only recommend buying silver, if you have your other ducks in a row.

You are better off owning gold and silver than you are keeping cash in a bank. You can't earn anything on cash these days, so what is the point of keeping it in a bank? Hard to believe so many have regained faith in the stock market after 2008, and the feeble attempt to artificially inflate it. Another financial collapse would cause gold and silver to become almost infinitely valuable. Precious metals will always have bartering power, but I agree that food, water, shelter, and a plan to defend them should be the top priority.