BANKING HOLIDAY coming on Oct 27, 09?, page 4

reply to post by Historical-Mozart

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I doubt whether the panic will be allowed to come to a point where the financial system shuts down... even if it is for a week.

The nature of capital markets means that even if the commercial banks decided to close shop for a week, the big corporations and governments would still buy and issue debt, as they do.... let me emphasise a point that makes this a little clearer...

Commercial banks, the ones that you are talking about, operate in a "twilight zone" of finance...

THEY work on a basis that is split (somewhat schizophrenically) between capital and money markets...

Commercial banks will not shut down for any length of time. To say so is ignorant of the systemic realities of our world. If anyone is going to shut down, it will be the investment and merchant banks...

Could you imagine a market where no new equities are issued? Or where no new debt is bought and sold? That wouldnt be a market at all... there are always willing buyers and sellers.. the price just has to be right.

To be honest, this is all a very weak attempt at sensationalism and is completely unimpressive. If your quarrel is with exchange rates then address that problem instead of making out that there is going to be a fictional "stop work" period for the commercials.

So... sorry to tell you folks. THis aint gonna happen. So stock up on a years worth of dehydrated food if you want to... buy all the ammo you can get your hands on... study up on constitutional law your mind will allow... build bunkers in your backyards to keep you safe from nuclear fallout... the only fallout here is that uneducated people are making statements that are ignorant of financial and material realities.

Peace
Dave

Again I must emphasise, that

Originally posted by DaddyBare
...So whoever this bank is... if you bid on and win one of these homes ...you have to pay them in cash before OCT 20th and they will just hand you a quit claim deed and walkaway... this is not how banks normally do business folks... and not the way to buy a house... someone is dumping for whatever they can get... Quick!!!!
This is just one of these listings

First, many thanks to the OP for this thread. S&F.

Second, thanks also to DaddyBare for the info in his (assumed his) post, which I've partially quoted above (and starred). Because I'm in the process of hunting for a place in the country where I live in the Czech Republic, I had a look through the site linked in DaddyBare's post to see what "cheap" houses are going for just for comparison, and I was astounded at how low the bids are for some of the residential properties on sale. We're talking in the single-digit thousands of dollars...

But besides the prices I was also a bit taken aback by what I found on one for sale in Georgia:

Specific Property Disclosures: Cash buyers must complete closing within 21 days of offer acceptance or by November 9 2009 whichever occurs first. Financed buyers must complete closing within 35 days of offer acceptance or by November 23 2009 whichever occurs first. Note: No closings can occur between October 26 2009 and November 4 2009. All financial arrangements must be made prior to closing. No exceptions or extensions. NOTE: ANY SALES UNDER 50000 MUST BE CASH PURCHASES.

([Bolding of text done by me.)

Link to the webpage for the above text is here.

(Note for any who read this thread months or years hence: the above may be archived, so to help you find it if needs be, the property's reference number is 566309.)

Comments: Oct 26 to Nov 4 is eight full working days. Even allowing for a local or national holiday, why is it that "no closings can occur" within that time? I'm not an American so I lack knowledge on the ins and outs, but it seems odd to me, especially when almost every business is desperate to get their hands on any money they can.

Any feedback would be helpful.

Final note: I've only studied a few properties on that site. Just comparing prices and regions. I would guess there might be others that have a similar "no closings can occur" clause but rather than wait till I've searched them all I thought I'd post this for the interest of our members.

Regards,

Mike

[edit on 11/10/09 by JustMike]

Originally posted by Rossa
Morning Kids,

I googled Banks Closing for upgrades in October, the below link is one of many that popped up, not only is it credit unions apparently its also regular banks.
Dont know how reliable this site is, but it was interesting none the less
/www.tickerforum.org/cgi-ticker/akcs-www?post=113700&findnew


Ross

Thats another credit union that is "closing for technical issues". I checked my credit union and it didn't have any news about closing around this time, but that doesn't mean that they just haven't updated or posted the closing date. Either we are wrong as hell, or we will be witness to another event that was forcasted for.

www.godlikeproductions.com...

reply to post by TwoTechnics

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Sometimes I wish the dollar would crash. Then we would see how we can band together as human beings. I wish that our whole system would crash just so things can change.
We need things to change because basing a whole society on paper,(money), is going to put us in a cycle of depressions and recsssions. If the Dollar crashes what becomes of all our debts and bills? Are they forgiven until a new currency is implemented.
Will prices go down or go up. We won't wake up to a world were suddenly everything costs twice as much? Someone has to do something. Our american system is just too painful.
We never have enough money to save and prices keep rising. I am scared for our country.

Originally posted by RolandBrichter
FYI.....If you are a credit union member, call them and ask them if they will be closed from Oct 31 to Nov 2nd and for what....or just google "credit unions closed for upgrades"...this may astound you

EXAMPLE



[edit on 10-10-2009 by RolandBrichter]

Maybe I am Googeling wrong, if that is even possible. All I get when I google credit unions closed for upgrades is Heritage Credit Union closed during the supposed bank closures and when I google "credit unions closed for upgrades" all I get is this thread.

I'm new on ATS so I have no clue how to link stuff here. But copy this into your browser and you will see what I'm talking about

www.google.com...=en&q=%22credit+unions+closed+for+upgrades%22&aq=f&aqi=&aq=&aqi=&aq=f&aqi=&oq=&fp=5930349daf6ca0d6

Originally posted by Wondering302

Maybe I am Googeling wrong, if that is even possible. All I get when I google credit unions closed for upgrades is Heritage Credit Union closed during the supposed bank closures and when I google "credit unions closed for upgrades" all I get is this thread.

I'm new on ATS so I have no clue how to link stuff here. But copy this into your browser and you will see what I'm talking about

www.google.com...=en&q=%22credit+unions+closed+for+upgrades%22&aq=f&aqi=&aq=&aqi=&aq=f&aqi=&oq=&fp=5930349daf6ca0d6

Keep digging, adjust your search terms..personally call credit unions....all I'm suggesting is that there is an odd coincidence at play...I'm NOT trying to imply that all banks wil be closed during this period...just pointing out things that some may find curious..

I'm a big proponent of taking most of the info that is presented on ATS with a huge grain of salt.....the conclusions that one draws should be largely based on ONE'S OWN RESEARCH and reasoning....

That said, my own conclusions have led me to strongly consider the possibility that our banking system is insolvent, and I am taking measures based on the actionable intelligence gathered through my own research..

Good Luck,
RB

Originally posted by Argyll
reply to post by AmethystSD

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Cosmetics????......seriously?

if the shtf......you need to have your cosmetics???

I despair

I am allergic to most types of soaps, so yes. Keeping clean is more important when the SHTF than most may realize. Ask anyone from a third world country. When big brother isn't there to sterilize everything or standing by with antibiotics, one has to be a lot more careful about washing one's hands.

Please take heed, because I don't have enough soap to share and otherwise I won't want to be standing very closely to you.

reply to post by TwoTechnics

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I'm not worried. My paycheck will come, my bills will arrive, and I will go about my business.

If they shut down I really don't care. If they block me from my money, they will have it alot harder than I will.. I promise you that. If they disrupt my rent payment, I will disrupt their business for an extra week.

Originally posted by RolandBrichter
FYI.....If you are a credit union member, call them and ask them if they will be closed from Oct 31 to Nov 2nd and for what....or just google "credit unions closed for upgrades"...this may astound you

EXAMPLE

RolandBrichter -- that's a GREAT clue that you gave to all of us, so I wanted to thank you for that.


And I want to thank everyone else who contributed more information about the upcoming "computer upgrades" -- big THANKS to everyone who contributed solid information on this matter.

[edit on 12-10-2009 by Historical-Mozart]

Here's an explosive article about this upcoming bank closure:


www.stevequayle.com...


I don't know what parts of it are true, pseudo-true or false, but I figured that, at least, I'd post the url FYI.

reply to post by Historical-Mozart

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Yes, it's better to post it even if some of it might be a bit "out there". It seems a mixture of verifiable fact and "I know someone who knows someone important" sort of stuff.

Then there are odd comments like this:

What you do with your money is your business but having traditional items that have always been REAL MONEY (note: read the definition of a Dollar in the Constitution as being a certain amount of Silver) and plenty of food to eat and ammo for target practice would never be wasted money, now would it?

(Bolding mine.)

I say it's an odd comment because I'm sure the US Constitution doesn't give any definition of a dollar as "a certain amount of silver", and I've read the whole Constitution through a few times now. Maybe I missed it?

Looking at my hard copy, it seems that the US Constitution mentions "dollar" only twice, in Article 1, sect 9 (tax duty of a maximum of $10 on imported persons -- read "slaves"), and in the 7th Amendment (right of trial by jury if the value in controversy exceeds $20).

Okay, there is a law that defines a dollar coin (31 USC 5112(a1)), but that in itself is not "the Constitution" and it's not mentioned in it. And a dollar coin does not define the value of a dollar forever amen anyway. It seems that these days the dollar's value is defined largely by a bunch of bankers -- if it's defined at all.

I'm being picky here but if we are to take the writer's words as having any credibility then basic, verifiable facts should be correct. If the above statement made by "Hawk" in the linked article is false, then it makes me wonder about the accuracy of other statements he made and that I'm unable to check right now. After all, he's writing about banks and the monetary system so he should get his basic facts straight.

Just my errrm two cents...

Edited for typos. Sheesh I hate typos!

[edit on 12/10/09 by JustMike]

reply to post by trueforger

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Ahhhhh…. Dimes and quarters are no longer solid silver. They have filler raped in silver and are not worth there face vale. If you want to invest in precious metals then buy gold or silver bullion. The real thing not the paper or stock.

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