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And now a bank run

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posted on Jul, 11 2008 @ 03:48 PM
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reply to post by mybigunit
 


I agree, but in terms of any money transfers to cover FDIC insurance it would be a sunk cost. In other words, the money that is used in the federal budget is already designated to be spent somewhere. It will be spent on something, its just that instead of being spent on X other entitlement or bureaucracy item, it will be transferred to the FDIC.

Of course as you know I'd prefer we not have any of this - the fdic, entitlements, or most of the bureaucracy. The FDIC is a moral hazard, because it gives me all the incentive in the world to plow money into shaky banks that offer high interest rates. I think the good news is that most people scare to easily and react to the media to quickly to see the benefit to doing this, so it probably doesn't result in much additional burden in the event of a bank collapse.




posted on Jul, 11 2008 @ 07:11 PM
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Everything is fine! Really!

IndyMac Seized by U.S. Regulators Amid Cash Crunch

Waited till the end of the business cycle on Friday. Fed sure does a lot of business on the weekends nowadays doesn't it?



posted on Jul, 11 2008 @ 07:30 PM
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reply to post by titian
 


Ive been eyeing FRE for the long haul but to risky for me. I like Citi alot better myself but I agree. By leap contracts after a big tanking that is coming and go long. jan10 contracts are your friend.



posted on Jul, 11 2008 @ 08:17 PM
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reply to post by Mainer
 


This is excellent news! The banking sector is going on sale even more! Er, sorry, I forgot, everyone resume running around in circles screaming. Run for the hills!


[edit on 11-7-2008 by ALightinDarkness]



posted on Jul, 11 2008 @ 10:07 PM
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reply to post by ALightinDarkness
 


My advice is to buy sugar,barley, and other ag commodities and keep them in your basement, your gonna need them.



posted on Jul, 11 2008 @ 10:23 PM
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reply to post by Swingarm
 


I'll be buying stocks and shorting the commodity bubble. However, I want everyone to run around hysterically screaming the end is near - its good for my bottom line when people panic.



posted on Jul, 13 2008 @ 06:15 AM
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Is it just me or is the gov nationalising every thing? And yes just because the gov says bail out, it really means we own you.

And alightinthedankcrack so, you are in to short selling you truly are a pos praying on people's fear good on ya. You are one of those people that I despise trying to make a buck on people's miss fortune. You know what karma is, its me trowing you off a cliff.


[edit on 13-7-2008 by sickofwar]



posted on Jul, 13 2008 @ 06:22 AM
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Originally posted by sickofwar
Is it just me or is the gov nationalising every thing? And yes just because the gov says bail out it rally means we own you.


I was wondering the same thing. Especially in light of the rumors about bailing out Freddie Mac and Fannie Mae and their 5 Trillion worth of assets. Wouldn't that mean that the govt then owns the vast majority of all real estate in the US? That scare the bejesus out of me.

I just can't get my head around the scale of that type of a bail out. How does a bankrupt govt bail out a company that is worth trillions? What if the govt doesn't step in, wouldn't the consequences of that be pretty damn severe as well?

Monday could be a crazy day.



posted on Jul, 13 2008 @ 09:00 AM
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reply to post by Karlhungis
 


Yeah I actually mentioned this in another thread. That is exactly what is happening. Exactly what happened in the great depression one big power grab. Here is the kicker. The money they use to pay for all of this will be payed for by you and me and all the other taxpayers and you know what benefits we will reap from paying for it? Not a damn one. But will the people rise up and say anything? Nope. They want to know about brangalinas birth instead.



posted on Jul, 13 2008 @ 09:22 AM
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Could this be part of the reason for Congresses closed door session? The falling domino affect of our banking system and how many more collapses are on the horizon? How many Americans will start to pull their money out of their banks that they do banking with in fear of a National bank run?

I was being told that this could never happen, another Great Depression because there were too many checks and balances in place to stop it from happening LOL.

The Arabs do not have to fire a shot at America they are firing upon us at the pump and so far they are winning. Who do we blame for the mess of our economic situation? It is spelled Congress they are suppose to be the overseers of our country but they represent themselves instead of We The People this is very apparent. Rik Riley

[edit on 13-7-2008 by rikriley]



posted on Jul, 13 2008 @ 10:25 AM
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Unless my reason fails me, I am prepared to propose the following:

I suspect that the magnitude and repercussions of an economic catastrophe of this magnitude was anticipated, an assertion that I maintain should indeed be scrutinized carefully.

My intention is to sow the seed that it bears noting: This Administration is a corporatist surrogate. This can be inferred from the consistent application of policy that supports, encourages, and protects, commerce over self-declared human rights. The Administration's ideological base, an elitist contrivance, is a small component of the road-map to bring the current leadership social-class into sustained perpetuity.

I believe that, if anything, the architects of the applied philosophy called 'Neo-conservatism" would have a strategy for ascending into a new transnational role. The depth and breadth of these Ideologues is impressive, I think they must have developed a plan to address how could they 'apply' Neo-Conservatism is a 'new world order?' It would require their permanence in power. This is to say they must move into larger more encompassing positions of trans-national authority. As will the minority of the elitists who control the remainder of the North American continent.

Assuming the American people were willing to release themselves from the paradigm of the Constitutional Representative Democracy, how far will their influence have in a supra-national governance? Probably about as much as states' citizens have over the current federal regime.

They must maintain the illusion of choice, or risk the necessity of exercising a totalitarian sweep to remove those who may be most successful in fomenting dissent.

Unfortunately the authority and power to execute such a sweep in now virtually a fixture within the American cultural landscape. These "Big Brother' developments are recent, most of which seem to have been implemented by executive fiat, with some notable exceptions where the resistance was provided, but they may as well have been staged, for the net effect it had on protection of the Constitution.

The key here is the highly-secretive banking practices not only in this country, but around the world. The neocon's not-so-remote connection to International banking and Power whore groups are demonstrative of a channel, which in theory, offers them a very clear window into the upcoming banking actions. The opportunity to use this knowledge to further their ideological goals cannot be overlooked.

I believe the opportunity, motive, and means can be identified. This economic collapse and the loss, or disappearance, of trillions, can be used to 'force' the American people into the surrender of our national sovereignty. The consequences of NOT accepting them will be driven into our heads as the worst kind of depression, an economic hell. I would suggest choosing hell.

Otherwise the layer of control over our 'social/political/and cultural daily lives will be forever out of our reach, as we become virtual playthings for an unreachable elite, who chose themselves over the 'people who are so very common.'

But they seem to have placed all their eggs in one basket. As if they expect to have to quash dissent. They are prepared to pull the rug out from under those who would stand firm. You see, there will be no more United Sates - no more law to prosecute the wanton egregious profiteers and those who industrialize exploitation.

There will be law, but the bankers will be the judges and jury. You and I will become simple 'factors' in an equation which either yields profit or is to be 'corrected' until it does.



posted on Jul, 13 2008 @ 10:39 AM
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reply to post by Maxmars
 


Maxmars I believe you hit the nail on the head and the American dollar is not being propped up instead it is aloud to float on the open world market and it is still tumbling. In the near future will a gallon of milk cost $15.00 per gal. and gas at the pump the same? Run away or hyperinflation inflation has been put into play and if not put into check we will continue to see a run away freight train running off a collapsed bridge. Rik Riley



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