Bank Holiday In America Coming Soon !

reply to post by questioningall


The fdic had negative ballances in 1992.... system didn't collapse.

They have 11billion as of now with 25billion on the side... 36billion should last them through this and next year.

Also the greenback dollar is not original.. we have had many currencies in the US and even a period of no currency.. didn't collapse.

There would be no need for a bank holiday... and the idea. The gov would surprise us one day with a new currency is retarded, it makes no sense....



Dear God if I ... ME ... have to be a voice of REASON regarding the economy that's bad...

I need to read further into the information posted but I do recal Steven Quall reporting from an Australian paper in the summer of last year that there would be an economic meltdown (my words) in September last year. We all know what happened.

I will look tomorrow at the remaining posts and links but perhaps the best thing to do is be prepared just in case. Any money you may remove from the bank can always be returned...or traded for Amero's

BTW, how did the guy he was speaking to get access to Amero's?

Yet, the total number of bank failures was 120 in 1992 and total losses were 3.6 billion dollars. We are beyond the Billions in said fund sir. Mind you these are 1st quarter numbers. It is game over when the real numbers are released. Our only hope is to print more cash, and devalue the dollar slowly. Or create a new "non-Reserve" currency and stiff our lenders!

Daily Finance

Last Friday's three bank closures were expected the cost the FDIC fund $185 million, which brings the total 2009 cost for failed banks to $16.58 billion. That compares to a total cost to the fund of $17.6 billion for all of 2008. Last year, the total number of bank failures was 25, so we're just a bit more than halfway through the year and already almost three times the number banks have failed. Interestingly, stress tests were only done on 19 of the largest banks.

Originally posted by Rockpuck
reply to post by questioningall

 

The fdic had negative ballances in 1992.... system didn't collapse.

They have 11billion as of now with 25billion on the side... 36billion should last them through this and next year.

Also the greenback dollar is not original.. we have had many currencies in the US and even a period of no currency.. didn't collapse.

There would be no need for a bank holiday... and the idea. The gov would surprise us one day with a new currency is retarded, it makes no sense....

Dear God if I ... ME ... have to be a voice of REASON regarding the economy that's bad...

[edit on 16-8-2009 by Absum!]

The only reason for a bank holiday would be to audit the banks, and transfer the ones that fail over to banks that pass that audit.

reply to post by truth/seeker


But if this did happen as described.. that money would also be utterly worthless in a matter of days.

Originally posted by Psynarchist
I wonder if there are big gold businesses who benefit from these threats...?

"S*** is gonna hit the fan - trust me - buy gold here....!!!!!"

It would be interesting to see if the source has ties to some business like that...

To be honest, it would be expensive to invest in gold right now. I invested a large chunk of money in 2002 when gold was under $300 an ounce. I'm glad I did! But would I invest that much now? Probably not. But I'd still invest SOMETHING in it so I could recoup some of what I lose, if/when this actually happens. Precious metals should soar in price (predicted: $2500+ per ounce) should the dollar completely collapse. (and it will)

So, investing SOME of your money into gold couldn't hurt. But I wouldn't invest everything because everything is so unstable right now, who KNOWS what may happen to the value of gold? It could collapse as well. I don't see that happening, but . . . stranger things have happened.

I'm posting a question that I've posted under a previous thread that no one answered. Maybe because no one KNOWS how to answer it? Or didn't understand it was a question and not a statement. So I will give an example on this one.

A person has loan balance of $24,000 for ________ .

This person has $12,000 in US dollars in a bank account.

The banks go on holiday for ______ days/weeks/whatever.

When the banks re-open, the person's account has been reconfigured and is now only $1000.

Does this mean the $24,000 loan is now $2000?

OR is the loan balance still $24,000?

i suspect that the ability to attatch people's bank accounts with the passage of healthcare,there will be a run on banks.
why would anyone leave thier money in an open account that obama an dip into at will.
this,in my opinion will start the bank collapse.

reply to post by Nivcharah


the currency would have to be the same exchange rate, or it would be in effect ,worthless. the only thing i could think of is that if they did not do that it would be to pay off the debt they have created.
but oh baby,the streets will run red over that.

everyone is walking a tightrope right now,and a trigger like that would not go over well.

reply to post by Absum!

Yet, the total number of bank failures was 120 in 1992 and total losses were 3.6 billion dollars. We are beyond the Billions in said fund sir. Mind you these are 1st quarter numbers. It is game over when the real numbers are released. Our only hope is to print more cash, and devalue the dollar slowly. Or create a new "non-Reserve" currency and stiff our lenders!

It doesn't matter... if the FDIC were to have a negative ballance, the Federal Government or the Member Banks would re-fund the FDIC to keep it operational. The only way it wouldn't matter is if every major bank failed in the same year.. at which point the FDIC covering your savings is the least of your worries.

77 banks have failed, the largest being Colonial ..

www.abovetopsecret.com...

Which cost the FDIC under 3billion.

I agree inflation will soon be a problem from printing the Dollar.. but it won't effect the FDIC.

Also, it was 5 banks that failed on Friday.

in 2008 the FDIC removed $25 billion from the Trust and set it aside for emergencies that are expected through 2010.. the secondary Trust sits on the side, while the Banks are having dues increased to fund the Primary Trust. If all else fails, I think if we can loan 700billion to random projects and random banks we can send a few billion to the FDIC .. to not do so is political suicide. The ONLY risk you have from loosing money in a bank then, is through devaluation.

reply to post by Nivcharah


The only way such an event could happen is if a new currency was established, which all loans would be modified in the way you described.. It wouldn't be that extreme however because high valued currencies are horrible to try and trade with. If we adopted a new currency it probably wouldn't surpass by far the value of the British Pound.

But it really wouldn't make sense to create a new currency at this point.. if we re-adjusted our monetary policy we could reverse the devaluation of the Dollar.. it's just a matter of will power. As of right now lowering the value of the Dollar is helping to fund the Government ....

It's an indirect tax.

So why change what's working? Mind you, it's not working for you or I .. but that doesn't matter to them, does it?

Does anyone actually know what happened in Zimbabwe?
It's not on a parellel with the current situation, but some basic principles still apply.

Here's a VERY IMPORTANT INSIGHT into what happened there.

The Economic Collapse of Zimbabwe

It is completely insane to sit back and stick your fingers in your ears while whistling a happy tune. This is real people. Just because you're the "Great America" doesn't mean your elected officials are any wiser, any less corrupt, feel any greater responsibility or have any better plans or strategies, they just have a better media to spin the BS so you don't understand what's really happening and you'll all believe what they say.

Today I read that Japan and Germany are climbing out of the recession, don't take this as a sign that America is just dandy now and everything will be ok.
Germany learnt their lessons from the firts massive economic collapse that introduced them to Nazism and WW2.
If I'm not mistaken, Japanese gentlemen were recently found trying to ditch billions of American debt, probably with the help of America, so they could do it in a controlled and quiet manner without causing a panic or a fuss (immense fail!)
What happened to that "fake" money? I suspect America put their hand into this story to "make it go away".

Your Federal Bank has printed trillions, thrown it at bankers who then paid off all their buddies (and probably so they wouldn't go running to the American public and tell them exactly what they've been "allowed" to get away with for the last twenty years!)

Face it, you've been robbed. In broad daylight, by your own government and your own financial system.
This isn't going to "just go away". This isn't going to be resolved by throwing trillions at banks.

At the very least, IF the bailouts and insane measures the US Govt. is taking do work miracles, your kids, and your grand kids, and their kids, will be paying back this debt, and then some.
Taxes are going to go up. Your standards of living are going to drop across the board. People are going to get immensely angry about that in the next year or two. Crime is going to rise. Services will be cut. Education, health and housing will all be affected.

These are not suspicions, they're not guesses. Even with the best possible outcome, these things are going to happen.

It's a simple economic fact. And no amount of denial, MSM glossing over, Obama speeches of hope is going to change this.

All bets are off right now. If it is announced at the end of the financial year that 200 banks have gone, what will that simple piece of news do to confidence in the $ around the world and in your country?
Will China still be happy to sit on so much of your cash? Will lenders still be happy to support a failing economy?

And if not, will there be something like this again?



I am not an economist, but I am intelligent enough to know the realities of this situation.
And those on here saying that the collapse of the Dollar, Hyper Inflation, and resulting civil unrest are "impossible" clearly have not studied history very well, or even considered the realities of this current financial crisis.

Unfortunately, much of this could have been avoided if your Govt. had not meddled in the course of economic natural selection. If a company fails, it fails, and the assets are swallowed by other businesses that therefore become stronger as a result.

No, it wouldn't have been "comfortable" but it would have been far less damaging than the catastrophe America (and other nations as a result) now face.

I can assure you this will not happen

You seem to forget, the south has guns, and will rise again !

lol

Originally posted by Blaine91555
One thing that seems to be a fact. When gold was a great buy, nobody was advertising trying to sell it. Now that it may be at or near its peak, we are bombarded with people trying to sell their gold.

If gold were the best investment, why are so many advertising to sell it. Would they be trying to get rid of it if they believed what they say? No, they would not! They would clearly be buying instead.

Avoiding scams just requires some common sense.

When was gold a great buy? Which companies were not advertising to trade at this time?
The same companies that were trading gold today were trading it when it was a "great buy," whenever that was.

On what factual basis do you know it is now at or near its peak and over what timescale are you talking? another month, 6, 12 or 36?
Show me where we are being "bombarded" by people trying to SELL their gold. It is my experience that dealers are now aggressively buying.

I think that your post is nothing more than "off the cuff" and ill advised. The fact that it has been starred so much shows me that there are plenty of other people here who have no real grasp on the current situation.

PEACE,
RK

reply to post by Spectre0o0

i suspect that the ability to attatch people's bank accounts with the passage of health care,there will be a run on banks.

Yes I agree. If I recall a single person has a $6,000 and a family has a $10,000 deductable per year. The legalize made it hard for me to understand if that applies to EVERYONE or just to the middle class.

I have already told my husband to cash his pay checks and get the money out quick. The only problem with that is "Civil Forfieture" If the cops find you have a large chunk of cash they can confiscate it and keep it. The possession of cash is considered evidence of drug dealing and most cash in the USA has trace residue of drugs, so they can "prove it" The citizen has to SUE to get his money back!

reply to post by Rockpuck



Good points you made.

Moral of the story the big brothers take us on economic roller coaster. But still never collapse.

People jobless, investments lose, mental pressure
Big brothers smiling everyday with super profits.

reply to post by Evisscerator


Is the same thing going to happen in Canada with the Bank Holidays?

I've been buying Gold and Silver for the last 4 months. Actual physical bars and coins. What would be the value of these in the new currency?

Example:
If I buy 1oz of Gold for $1050 ($CAD), would it be worth $175 AMEROS?

What am I missing?

Example on numbers only =

Say I take $10,000 out of the bank and keep it at home.
The bank closes.
This $10,000 is now worth $1000.

Before this a thingamajig cost $10
Now that same thingamajug will cost $1
Other than the VALUE of the money - what has really changed?

If I can't get at my bank to get this money out before it closes - what happens to my credit cards? How are they effected?

What happens to the debt I have? If i owe $10,000 - do i now only owe $1000?

Above stated 'International' banks - so what happens to the Euro?

Does anyone have a theory on any of this?

I am Not being a nudge - I am really curious

Originally posted by mappam

Say I take $10,000 out of the bank and keep it at home.
The bank closes. This $10,000 is now worth $1000.

Other than the VALUE of the money - what has really changed?

If I can't get at my bank to get this money out before it closes - what happens to my credit cards? How are they effected?

What happens to the debt I have? If i owe $10,000 - do i now only owe $1000?

Does anyone have a theory on any of this?

This is what I was getting at.

The only thing I can think of, is to re-align the US dollar with what it is worth compared to other currencies around the world.

AND if the only thing realigned is our bank accounts, but the prices of merchandise and our loans stay the same . . . that would be deflation instead of inflation but the end result is the same. It's just semantics. But it would be deflation that would definitely cause an uprising.

We wouldn't need to actually change currency if the value of the US dollar is adjusted to reflect its value against the Euro dollar. IF every country adjusted the value of their currency against the value of the Euro,

Hmmmm. Not certain how that would work. I'm not an economist. Just know the questions to ask. Trying to figure out how we could be forced into a One World Economic system (New World Economic Order).

[edit on 8/17/2009 by Nivcharah]

reply to post by Nivcharah


Bank Holiday? Possible. Amero ushered in? Not likely.

Realistically, the FDIC is nearly broke. Yes, they have ran negative balances before. This time it's different. The banking crisis is far from over. Right now it is being paved over by fraud, off sheet balances, and other Enron tricks. Nearly all the major banks are technically insolvent. If things are marked to market, instead of marked to fantasy they would be broke right now. I especially love banks buying their own foreclosed home at 'loan value', in order to keep the price artificially high and therefore a "good loan" on the books.

All of this is an attempt to kick the can down the road, and hope for a recovery back to bubble times. Hence the sheer amount of pumping that the economy is recovering. That recovery is not happening, and doomsday approaches quickly and is closer every day. How long can the games continued to be played?

Debt is not wealth, no matter how you wish it to be.

Ultimately the FDIC going broke will force the bank holiday. Not the Amero, not some grand conspiracy theory. The first bank the FDIC can't cover will cause a bank run of biblical proportions. That will force the bank holiday in a last ditch resort to save them and our currency.

Seriously folks, in a bank holiday the least of your fears is a currency exchange, or what ratio the exchange will be.

Originally posted by Not Authorized
reply to post by Nivcharah

 

Bank Holiday? Possible. Amero ushered in? Not likely.

just a theory....

For the most part we all agree on the bank holiday part .. yes? ok
now lets not take out of context what the poster wrote... i am not here to convince you but just messenger ... Given that is true... ( 99 out 100 times it will be false but it could still be true .. ) what do we have going on right now .. H1N1 while obama is messing around with the quarantines protocols right now also that is fact ... Fact # 2 .. O -man just met with Mex and Can which they called a NA summit ...


H1N1 Lvl 6... + MSEHPA + North American Plan for Avian and Pandemic Influenza = Marital law, Dismantle of three countries

now.....
H1N1 Lvl 6... + MSEHPA + North American Plan for Avian and Pandemic Influenza + Marital law, Dismantle of three countries = NAU ... ( AMERO )

remember this only a theory ... its like math problem ..if you think about .. the original post is the answer.. and this would be the work to show

the things that are being added are Fact which i mean , we here on ATS collectively agree ( cant say the masses ...,. yet ) and/or have been written down and made policies or "in case this happens plans "

.... not saying this is what is going to happen but rather one possibility given the pieces and the original post..

Peace , Love , Enlightenment