This ought to start the run on banks . . .

reply to post by Rockpuck


Okay - tinfoil on here

I think political suicide IS the goal

And the slow yet not so slow market crash is just an experiment to see if J6P is going to fight back or sit calmly while getting raped in all orifices.

So far it looks like J6P is going to take it

We are of like mind. This is all about politics now. The market is tanking because there is no confidence in Obama and his team. Banks are failing in some measure because they are doing an immediate clean-up of their balance sheets because they know they can get government money on the back end. This is a clean-up that would have occurred naturally over a few years, but they are all doing it now because they can.


In about 2 years it will be a good time to have cash. At some point they will have to suck the money out of the system and interest rates will hit double digits. 10% in a tax free bond is a nice deal. Hold on to your cash

reply to post by redhatty


Could be.. the Fascist are already taking over a huge portion of control though..

Bottom line is, if the FDIC goes bankrupt, a major bank would have to fail .. and if that happened again, we would need another round of massive bank saving loans to inject into the economy.. like to much Chemotherapy, the economy will be worn down and degenerated.

The Fascist like Obama have already grabbed extensive powers through this crisis without letting anyone fail. Why, he even tried to tell Congress what they can and cannot put into bills..

glad you said it first (with your tinfoil hat on, of course! lol), cause I didn't want to say it.. but I wonder if this is change we keep hearing. Oh and what was the other comment, some decisions will not be popular.. something like that.
You know, government has been questionable throughout the years, but for whatever reason, it is becoming very hard to believe and trust in. Not sure if it's because I'm getting older and wiser.. or the media is much more intense today (with 300 news channels on tv and the internet) then 10-20 years ago...but it doesn't take away the fear of what is going on and it doesn't help the trust level in the governement.
I didn't like the whole redistribution of wealth either...so there are my comments.. here is your tinfoil hat back.. had to borrow it for a few

I couldn't believe the FDIC chairman (actually a lady) was even willing to be interviewed infront of an audience by Mad Money's Jim Kramer. I mean that sounds like desperate sales-pitching to me and when they go out of their way to sell something it's usually not worth having.

Any market rebounds at this point seem likely to be only bumps down the hill.

reply to post by Rockpuck

I like how you're pointing out the obvious ties between now and fascism. This is blatant fascism.
Weighing the Actual Wars of Bush and Obama's fiscal dictatorship will be more relevent as this unfolds, Im sure.

Yes good post..it will be interesting to see if this affects anything. Yet another bright moment iin our world of economic turmoil.

reply to post by anachryon


with the deficit and other concerns, what if ASAP is 99 years?

I know in default LLC code, I have a year to pay departing partners if it interferes with business or cash flow etc..
no matter the actual bus. plan

We're talking the mid double digit trillions if not more.
99 years may not be such a myth in that scope

reply to post by de9571

"At the end of January, 2009, excess reserve balances at the Fed stood at $793 billion[174] but less than two weeks later on February 11, total reserve balances had fallen to $603 billion.[175]"

at that current rate we will last about 2 months until its bankrupt. well 2 months from febuary 11th. it is now march so we really only have a month and a half.

also that is if it happens at a constant rate. the more people who start panicing the faster it will go. it could potentially happen in only 2 or 3 weeks.

hmmm.

i think ill be stopping by my bank tommorow!

The only thing about just getting your money, or a big portion of your money out of your bank is that as the dollar, and other world economies deteriorate, they will lose value. The best way to deal with this would be to buy gold, or silver, but if TPTB have this well planned, part of their plan would be to actually devalue gold and silver in time, so just the people that they want would benefit from the economic crisis.

So, what I recommend is that you buy all the necessary items you will/might need. For example, canned foods, medicine, at least a couple of complete first aid kits, etc, and whatever your family needs. Buy them to last for at least 6 months. Also buy some water filters, communication devices such as satellite phones, or if you can't afford satellite phones, you can buy a scanner, and some walkie talkies.

Bullets would be one of the many items that could be used for trading if things get really bad, and can also be used for safety of course. so if you are able, buy as many bullets as you can too, of whatever ammo is available. If you can only buy one time of ammo now make sure you do buy a rifle, or weapon for that caliber too.

The one thing that is most important, just buy what you can, don't spend your entire savings buying these things, do have some money on hand just in case, at least if, or when tshtf at first, money could still be used for transactions. Do have some gold, and silver also if you can, but again, just whatever you can afford.

The most important thing would be to have food, and all the necessities already bought, before tshtf, because when it happens, people will run to the markets and buy everything they can.

Do invest some money on white weapons, which are knives, kabar machetes, bows, xbows, slingshots with steel ammo, etc. There are some survival books being sold by Amazon very cheap, for like $5 U.S.D. which have been used by the U.S. Army, and even the SAS Survival handbooks. Very informative information for surviving on any situation including disasters, either man-made, or natural.

I have even bought the special forces medical book, which will show you and tell you how to treat most medical problems you can encounter if you are trying to survive on any situation.

Also, even if you live in a city buy some organic seeds. If the economy deteriorates really bad there would be a lot of violence in cities, so people would have to go to rural areas, and eventually your canned foods will run out.

If you are able buy a small piece of land, and just tell your relatives you trust about this land. If not just get whatever you are able to buy.

This is not just a subject to talk about, or complain about and get drunk with some friends, as you discuss about possibilities anymore. The time has come to make sure you have all the preparations you can possibly make done as soon as you can, for your family, and for you.

I do really hope that the worse doesn't happen, but ALWAYS PREPARE for the worst, meanwhile you HOPE for the best scenario.

Also, if you have small children, apart from buying canned milk, do buy them some books with pictures and such, entertainment for your young children, and even early teenagers will be very important to keep them occupied, and not scared all the time.

I really hope we are wrong, and the worst doesn't happen.


[edit on 5-3-2009 by ElectricUniverse]

reply to post by dolphinfan


The money was already printed (out of thin air) when the bank loaned the money out so I'm not sure if this would affect inflation.

What is going to affect inflation is further lending and the stimulous/emergency plans appear to be the biggest culprit.

Obsidience

Run out of money? Hah. Not likely.

Money is imaterial, they conjure it up out of nothing. If people DO NOT run on the banks they will not give the bankers the excuse to reset the system and call in all the debts. If people let the banks suffer their fraudulent derivative based debt then the banks will be forced to resolve things themselves.

If people run on the banks the banks will just say it's our fault. If people stay in the system and let them mess up it will be their mess to clear up. Either way we are potentially screwed, but if we let the banks sort themselves out they might be forced to clean their act up somewhat.

I say screw it, let them fail and let the system sort itself out. If it dosen't we will probably have anarchy... but that might actually be a positive development, as banks have been bankrolling all sorts of nefarious crap, a bit of anarchy would give good people - the majority - some space to be good people and things would likely improve.

So, in short, my money stays in the system, bar a few emergency funds. If it all goes south and I have to I'll eat from the wilderness.




[edit on 5-3-2009 by Zepherian]

reply to post by redhatty


While redhatty is fundamentally right, I just don't get all this 'fraud' talk. This isn't a fraud-driven collapse. This isn't Enron. This is a govt-driven collapse. This is the failure of Keynesian Economics. This is politicians trying to drive economic policy. Pure rubbish. Get out of the way and let the market work...

That's my 2 cents, anyhow.

reply to post by PragueSpring


While I agree with you in some part of the post I also see that is fraud behind many of the choices that banks took.

We may see more and hear more depending how deep the new administration wants to nail the crocks.

Still government intervention is just making the natural way of capitalism fail while making thing worst and pushing socialism.

reply to post by dashen


Come on hoarding supplies won't keep you alive if gangs kick down your door. You better stock up on weapons and generators. Once the power grid is shutdown there will be no flushing toilets and running water. The cities will shutdown all utilities. I doubt the interenet will still be connected. The army will need to start conducting search and seizure. So start learning to grow food and protect yourself. And cell phones will be dead to. Someone will have to bring back the Pony Express.

No word from the alien grays yet. It shouldn't be too much longer before disclosure. With no financial support system and the prison system in effect. You will have no one to turn to and nowhere to hide. It shouldn't be too bad without banks and without money to turn the tables on peoples lives. Everyone can relax like they did years and years ago before alien technology made it into this world.

I cannot wait for the banks to fail. I want to be microchipped and have my credit line increased so I can spend like crazy all from the net jacked into my brain.

HAIL TO THE NEW WORLD!!!

marg,

When they said transparency they were talking about you, I and the rest of the people in the USA and world.

We are transparent to them.

Originally posted by marg6043
reply to post by GoalPoster

 

So much for transparency, but hey the American people are so used to be lie, and screw upon that they will do as they are told.

everything is peachy

Drill a well, because once the civil infrastructure goes you'll be left without water. Food? Start planting now, city dwellers are S.O.L. on that one, better start looking for land. Gold coins might be a smart investment although its a bad time to get in on that market. Gold bars would be too hard to convert after any collapse. And don't forget you have to protect what you have! What a travesty our economy has become. You can't completely blame the government, it was good old fashioned greed that led a number of banks/companies to throw out common sense and business 101 to chase after higher commissions and inflated returns. As you sow so shall you reap.

reply to post by WISHADOW



While it is true that "hoarding supplies" won't save you from violent gangs that will be formed if tshtf, having those supplies, and a good truck, alongside organic seeds for longtime food supply, medications, water filters, etc, etc, the fact that you have all of these resources ready will increase the chance of your family and you surviving.

The seeds that I have will supply 7 years of food at the least.

Let's hope it doesn't get to that, but be sure to be ready in case it does.

Be as ready as you can, and your chances of survival will always increase.

Of course if tshtf, and you are caught in a major city, your best bet, and that of your family is to move constantly, and try to get out. Get in contact with any friends, or relatives that live in rural areas, and have a back up plan to get to them through at least 2-3 different routes.

The so called economic stimulus is only delaying the inevitable, and it is going to make it worse.

The government shouldn't have interfered except to aprehend, and inprison the rich bastards that made money through fraud, and corruption. The problem is that the corruption is so entrenched in the government that even if some officials want to get rid of the corruption, it would be extremely tough, if not impossible.

I already have most preparations made, including alternative sources of energy which are portable but would more than sufice to keep the essentials running indefinatedly. I don't even need any gas, or fuel, as I have systems that would recharge my electric batteries just by pedaling from 40 minutes to 1 hour.

I have already tried my backup system when the lights went out for almost two days here, and I had uninterrupted backup power supply that does not emmit any emissions, except for magnetic fields.

The good thing about being prepared is also to make sure that all your backup systems, and your food, medications etc, can fit in one truck with your family in it in case you need to go somewhere else.


[edit on 5-3-2009 by ElectricUniverse]

Originally posted by dashen
Why hoard money if it'll be useless? Buy food, water, lentils, flour, lotsa chocolate bars, the good stuff. That's always worth money.

Exactly! People think too much "in the box". Hey folks, time to climb out'a the box and take stock of what has REAL value. FDIC will not make it if banks start failing in droves. They will tell you they will cover your funds, but you'll have to await payment, till the crisis is over. Could be a real long wait! Turn your current cash savings into commodities you have to have to survive. Food (with long shelf life), water, medical supplies and shelter...perhaps some land out in the boonies with a little off-grid shelter cabin. If you have a little left, buy some US silver coins for barter when the currency is worthless. These will be far more valuable than that "savings account" or "Money Market Fund".