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Bank of America branch managers just received a message

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posted on Oct, 3 2008 @ 05:26 AM
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Well, I just withdrew all my savings (Tens of thousands worth). I'm not taking the risk, and neither should you.

The banking system is in place only for the bankers so they benefit from everything. I'm not going to take the risk that "everything is just fine" when I've been lied to again and again over the last few years by the government, and other groups.




posted on Oct, 3 2008 @ 05:36 AM
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Originally posted by Anonymous ATS
Well, I just withdrew all my savings (Tens of thousands worth). I'm not taking the risk, and neither should you.

The banking system is in place only for the bankers so they benefit from everything. I'm not going to take the risk that "everything is just fine" when I've been lied to again and again over the last few years by the government, and other groups.


so....what does a person do with tens of thousands of dollars in cash? stash it under their mattress?
invest it, where, what is a safe investment now days?
the tens of thousands would have been covered by the fdic.....what about those with millions? I'm kind of serious here...what do you do with millions of dollars in a climate like this....there seems to be no save place to put it.



posted on Oct, 3 2008 @ 05:54 AM
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This sounds like another Fed Res manipulation of our economy. Trying to push that buyout through by making everyone fear for their money. I am withdrawing all of my money today!

They are probably going to freeze all accounts like they did in the depression, to threaten the people of this country. I have had it with this government and the Feds that bully us, I would look forward to a revolution of sorts. Glad I dont keep my guns in the bank!



posted on Oct, 3 2008 @ 06:50 AM
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Originally posted by dawnstar
so....what does a person do with tens of thousands of dollars in cash? stash it under their mattress?


The solution to that issue is an old one. A lot of people are simply buying safes.
Sells of personal safes seem to be on the rise.


Sales of Safes on the Rise

A number of security stores report sales of safes are through the roof and experts say the reason is the economy.

Local security store owner Larry Jenkins says he's sold out of smaller home safes because a number of people are taking their money out of banks and keeping it in their homes. He thinks people just don't trust the banks anymore.

Since so many more people are keeping valuables and cash at home instead of at the bank, he suggests spending a little more money on a safe that you know is reliable.
Jenkins says, "I would recommend they maybe go a little bit bigger, and also something that can melt down to the floor. Some of these smaller safes, people could carry them off."

Jenkins says he's got a new shipment of smaller home safes coming in soon. He's just hoping he can keep up with the demand as the economy continues it's downward spiral. whsv.com


We may have gotten accustomed to the convenience of a bank, but there are always other options and they aren't the only resort. It's wise not to rely on them solely.

- Lee



posted on Oct, 3 2008 @ 08:21 AM
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Originally posted by dawnstar
what about those with millions? I'm kind of serious here...what do you do with millions of dollars in a climate like this....there seems to be no save place to put it.


In treasuries, at 10k a pop, unless the government goes under, you're relatively safe.


AB1



posted on Oct, 3 2008 @ 08:22 AM
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reply to post by lee anoma
 


I think what dawn meant was, what's a safe investment (ie., wheres the safest haven for ROI).

A safe isnt "safe" if what's in it has no value.


AB1



posted on Oct, 3 2008 @ 08:24 AM
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Here's a Jim Willie article...............

www.321gold.com...

This from a friend in Atlanta with strong banking connections: "Reliable word that Bank of America branch managers just received a letter or memo from the USFed instructing them to perhaps be ready for a one-week universal shut-down of the banking system, including access to checking accounts, savings accounts and credit cards. Reliable word has it that BofA bank branches received a shipment of signs last week, reading "WE'RE SORRY, BUT DUE TO CIRCUMSTANCES BEYOND OUR CONTROL, WE CANNOT BE OPEN AT THIS TIME."



posted on Oct, 3 2008 @ 09:14 AM
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posted on Oct, 3 2008 @ 09:23 AM
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Everyone,

I enjoy this site, listen and tend not to be judgemental of anyone.

Right now is the time not to panic. As far as what is safe for saving, I am basing this on my own experience and current situation.
I was laid off and scraping by. My retirement saving is in a 401K with a Mutual Fund that is SIPC insured. www.sipc.org my retirement saving are for the long haul. the insurance doesnt protect me against losses but it will protect the number of shares I have. taking my money out I would incur a 20% early withdrawl penality.. so it makes sense for me to leave it in there and wait a few years to recoup the losses.. I have 30+ years before I retire. When investing I go with the idea of looking long term and not looking to make a quick buck like day traders do.. Some are good at that.. I have no interest in that.
the rest of my saving which is a few hundred dollars is for emergencies for my fixed cost of debts...I have that in an online saving account 9 at 3% interest) that is FDIC insured. FDIC insures up to $100,000. If you have over $100,000, you can place it into multiple accounts. My mortgage, my car payments, ect.. those costs are locked in. So no matter what happens with the dollar those costs will not change much. the mortgage payments does change when taxes go up or down yearly....
I have 3 kids and I am stretching out my food as much as possibly.. I buy the basics. I've been doing ok...
I do think it is important that everyone think ahead and be prepared, but preparing in a panic doesnt solve anything.

"luck favors the prepared"

world_dogma


[edit on 3-10-2008 by world_dogma]

[edit on 3-10-2008 by world_dogma]

[edit on 3-10-2008 by world_dogma]

[edit on 3-10-2008 by world_dogma]



posted on Oct, 3 2008 @ 09:36 AM
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Originally posted by alphabetaone
reply to post by lee anoma
 


I think what dawn meant was, what's a safe investment (ie., wheres the safest haven for ROI).

A safe isnt "safe" if what's in it has no value.


AB1


Absolutely, but that wasn't the question I answered.
She asked more than one.

I answered the one about "stashing" your money not how to avoid its devaluing.

- Lee



posted on Oct, 3 2008 @ 09:45 AM
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reply to post by lee anoma
 


For those that are interested, I have posted a new thread:
www.abovetopsecret.com...'
The Rumors about a bank holiday-More fear tactics from NWO?

where you can debate whether this is actually a conspiracy by congress and the administration to instill enough fear to remove any opposition to the bailout bill.
I have documented clear proof that such a conspiracy is possible.



posted on Oct, 3 2008 @ 10:36 AM
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My aunt is a BofA branch manager, so I'll have to ask her about this.



posted on Oct, 3 2008 @ 10:42 AM
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Originally posted by Maxmars
(The conspiracy theorist in me suspects the rumor is probably from the US Fed itself; as a little extra nudge to ensure that all those millions of people who magically began to support the bill don't change their minds...))

Edit to add: I have to say we must always expect that the propaganda machine is in full gear and this would certainly sway people to 'run' on the bank - not a good thing for us, but great for the politicians aching for an excuse to 'go along' with their deep-pocketed buddies.

[edit on 2-10-2008 by Maxmars]


Have to admit when I read the OP thats the first thing that popped into my mind - that the fed are rumour mongering to spread fear and get the bail out bill passed...good call....



posted on Oct, 3 2008 @ 10:48 AM
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Originally posted by solarstorm


First off...I can care less about these so called ATS points...matter of fact I will be happy to donate them to anyone that gets their brain farts on gettin ATS points lmao. Joke is on you.


Actually, the joke is on you. Rarely any of the content you posted is substantiated.


Secondly...I stated in my original post that I questioned the sources myself but thought a heads up possibility might be there. So get your reading glasses and have a look.


This is called 'fact-checking'. We do this with multiple corroborating sources BEFORE posting.


Third...have a look at this thread in which I posted back in March. Closed House of Representatives...Ya I got shot down because nobody believed it and now that our own idiotic president admitted that we are in an economic crisis, is very real. In case you are hard of reading which it seems like you are it specifically states "the imminent collapse of the U.S. economy to occur by September 2008"


NONE of anything in your previous thread came true. Not ONE. Yes, our economy is in decline, but it has not collapsed, as stated as 'immanent' in your thread. Neither has the govt collapsed either, nor will it. Try to ground yourself and stop spreading unsubstantiated fear. check your sources....please.




Other than that have a nice day.




You too, if you can.


[edit on 3-10-2008 by NightVision]



posted on Oct, 3 2008 @ 11:25 AM
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Originally posted by pynner
some of the arguments against so far are pretty funny... you guys all trust a system that is broken and corrupt at it's core. of course they are gonna screw you.. DUH! where the hell have you been for the last 100 years?

anyways..

S n F'd



Well personally I have been watching the steady increase in personal wealth and life expectancy, so the system works pretty darned well in my opinion.

Of course the economically myopic will immediately point to the current financial mess and proclaim that the sky is falling in.

I think that the problem here is that comspiracy theorists aren't just a "glass half empty" type of person, they believe that the glass is a computer generated hologram that is indicative of a larger government cover-up.



posted on Oct, 3 2008 @ 11:46 AM
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reply to post by Retseh
 





Well personally I have been watching the steady increase in personal wealth and life expectancy, so the system works pretty darned well in my opinion.


Well, actually the data does NOT show that for the middle class RECENTLY:

The trends since 1989, the first year for which we have data, showed an increase in middle-class security through the 1990s. After 2000, however, the situation deteriorated very quickly—all of the gains in middle-class economic security were erased within a few years. We have now updated the figures to reflect the trends for 2006 and 2007 and to include more accurate data for 2005 than we had before. All the measures we tracked either decreased further or stayed at their already low levels from 2005 (See chart on page two). Data to 2008 is not available, but there can be no doubt that with worsening economic conditions middle class economic security is taking an ever harder hit. The new data underscore that:


Furthermore, AVERAGES are meaningless. Yes, the wealthy have seen their personal wealth increase. Since they heavily weight the average, a false impression is given to wealth:
www.freerepublic.com...


The top one percent of U.S. taxpayers (annual income over $313,469) made 20.8 percent of the income earned in 2000


At the other end of the income spectrum, the bottom 50 percent of the nation's taxpayers earned only 13.0 percent of all income in 2000
The data come from Tax Foundation Special Report No. 118




posted on Oct, 3 2008 @ 11:54 AM
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reply to post by solarstorm
 


I support this thread because even when the source is been challenged that is what they did with other sites that were warning about the power grab of the Federal reserve even before the Bail out bill was introduced to Congress.

And it became a reality.

My daughter also work in the banking, they are very worry about Bank of America, also their bank branches are getting orders to calm down their customers if they tried to do bank runs of certain amount of money and to try to dissuade them of no doing it.

Already one of the local branch had a bank run yesterday for one million dollar from one customer alone that demanded to have two checks of 600 thousand dollars each in cash.

That immediately send an alarm to all the breaches in the state.

Things are not good but everything is hidden as not to create more panic.



posted on Oct, 3 2008 @ 11:58 AM
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I don't openly advocate a run on the banks, but I have to admit, it's the only way that this government will be forced to really put this $700 billion to where they keep saying it's supposed to be going. To Mainstreet.

I know I have the bare minimum left in my accounts to keep them open right now, the rest I have in cash. I can always redeposit it later. But for now, I won't.



posted on Oct, 3 2008 @ 12:11 PM
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Originally posted by ProfEmeritus

Well, actually the data does NOT show that for the middle class RECENTLY:

Furthermore, AVERAGES are meaningless. Yes, the wealthy have seen their personal wealth increase. Since they heavily weight the average, a false impression is given to wealth.

At the other end of the income spectrum, the bottom 50 percent of the nation's taxpayers earned only 13.0 percent of all income in 2000
The data come from Tax Foundation Special Report No. 118



I was replying to a post which referred to a timeframe of 100 years. Attempting to prove some type of marginal economic decline in the last 8 years is meaningless, exactly the same thing happened in the 1970s.

PS - I just called my Bank of America branch to find out of I can still make bank transfers, and guess what......you still can, gasp



posted on Oct, 3 2008 @ 12:30 PM
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reply to post by Anonymous ATS
 


What did you say your address was again?

Very very smart move.



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