Lots of this info starting to circualte here on ATS..interesting..we'll just have ot wait n see, unfortunaltly..only a select few im sure, know whats goin down and on. IM wondering, if this collapse* is kinda like a scheme the fed conjured up...scare people jsut enough so they panuic,and run out n buy tons of things, thiking its the end of the world, their gunna live it up now, to stockpiling* then after a month everything will re balance itself, the FED counterfiting more money off that machine they got that makes it.
I shuold say printing money, but in business and the jsut fairness of all things, counterfiting suites them best.

he reason i say scar pople into buying things, is becuase i belive it works. I have been working in retail since i was 14..now 34. Whenever up hear in the northeast, a big storm is expected to pass through.. people whord the store shelves, at COSTCO, walmart, and big chain food stores. Ive seen it time and time again. They msotly buy toilet paper and 234 packs of water, and milk..most common things i see goin through the register. flashlights and batterys will fly IF its a hurricae like storm rolling through.

First time poster but have been lurking for a couple of years. For what it's worth, even though I don't know what the reasoning is, according to my fiance, who is a BoA employee: starting November 2nd(Today) ALL BANKS are to cease selling Travelers Checks. Also starting today BoA supposedly is suspending ALL foreign currency exchanges until further notice. I believe all other FDIC banks are supposed to be doing that as well. Thought's?

Originally posted by WatchingLibertyDie
First time poster but have been lurking for a couple of years. For what it's worth, even though I don't know what the reasoning is, according to my fiance, who is a BoA employee: starting November 2nd(Today) ALL BANKS are to cease selling Travelers Checks. Also starting today BoA supposedly is suspending ALL foreign currency exchanges until further notice. I believe all other FDIC banks are supposed to be doing that as well. Thought's?

Got a link? We've heard this stuff many many times before. Proof please.

No link unfortunately, just going by what the better half tells me. Planned on calling around today. I had googled it when she told me and nothing had came up. I really believe the exchange thing is because of the amount of soldiers that come in from the base here wanting to exchange their money into euro's with the exception of the $100 they need to keep their accounts open. Yes, no link for that either but THAT is and has been happening.

Dow is rocketing up! Don't know how, but it is!

Ugh. You know, I went to the bank to withdraw some money last Friday (my dog chewed my ATM card so I had to go in), and I handed over the withdrawal slip in silence and the teller processed it in silence, but then before she would give me my money, she held it in her hand and made a speech to me about how JP Morgan Chase had paid back every penny of its stilmulus/bailout money and wasn't planning on taking more and how they were expanding services and hiring and were very stable. I loitered for a minute to see if other customers were getting the same tidbit of information, but there weren't any other customers. I found this whole experience really, really strange.

[edit on 2-11-2009 by ~Lucidity]

It may very well be a scare tactic. But the thing is that US currency is not worth much right now, I think they would be trying to obtain tangible assets right now like Gold, Silver ect.. ect... That is if the goal was to make a profit, doing this would only weaken the dollar further so why go to the trouble to collect money that is worthless or soon to be worthless. Maybe they are doing this to collapse the current curency and then introduce a new global curancy. There are endless senerios of why they are doing this but I think the point is we need to prepare for our own well being. I mean if it is a scare tactic to get everyone to stock up so what, you will be buying things you will use anyway, so you will suffer a loss. We have heard so many "predictions" here on ATS about the SHTF but with CIT filling bankrupsy, I am not sure most people realise what the impact this will have on our economy. Over 300,000 retailers in America depend on CIT for short term financing to buy their goods to stock their shelves, we have already seen cargo ships sitting around with not much cargo to ship imagine what this could do to furthur impact trade not just in the US but on a global scale.

In the last week this is what has hapened:

Obama declared a national emergency
Things in Isreal are getting heated
CIT filed bankrupsy that will affect over 300,000 retail businesses

And what can we expect in December?

Over 1 million Americans will loose their unemployment benefits and will STILL be UNABLE to find work.

A NWO treaty will be signed by Obama under the false pretense that it is an Enviornmental treaty.

So IMHO I think we should prepare for the worst and hope for the best.

[Edit spelling]

CORRECTION ! ! !

Sorry guys I made another boo boo. I need to double check myself from now on. Any who. CIT will affect over 1 million retail companies not 300,000 like I stated above.

OKay stop the presses. Its up to small businesses to hire people? thier are no small businesses! small businesses would never be capable of hiring so many people, olike wamart, GE, swiss bank or any banks, homedepot. I work in retail for a cvs, and what ive learned is , its who you know, not what you can do...if yuor not in the cool crowd, the ones who think they own the place, yuor as good as out. and they will replace you will thier friend, even if he/she is terribe at working. that dosnt help fix job placements..mostly becuase alot or illegal immigrants, working thier. That leaves the average us citizen with NO work, so when the illegal at owrk, his frineds sneak through the borader, and settle in the area, they will have a guanranteed job. sorry, but this is what i see and have learned how it works.
wamart, vs and walgreens have made it so thier cant be much competition..they will simply buy out the land so an owner cannot open shop, or buy him outright via stock market. Sorry, but thier really arnt anymore small buisnesses around anymore....so i cannot understand why he'd say that. Unless obama himsef is not aware of how bad the big comapnys have teken over everything..or he's a part of it .

many small (under 50 employees) businesses will evaporate or get bought up...because of their long established business loan provider CIT.

Many, in relative terms, bigger businesses will also merge or be aquired...
todays B&D + Stanley deal of ~$4.5 billion is the 1st of many,=... and damm the 'monopoly' angles that disallowed these type mergers before this recent crisis situation.


Big brother in the form of a FED/Treas/regulatory agency
will allow mergers than were once prohibited, because 'They' know
how to Run Things (yeah right)


America is fast-sliding into the 'central-planning' model that had already doomed the USSR & All eastern European nations more than a decade ago
~go figure~