Is a run on American Banks in progress? You be the judge

Its true the cash would be worthless very quickly should a major meltdown occur...
Here in Canada it is difficult if not next to impossible to get yer hands on some precious metal.....just hit yer local bank up for some gold bars and see where that gets you...i have tried...
Meantime the guns you reccomend buying are also restricted so badly it could take months before its in yer hands if you have to start from square one...
One can only keep so much food etc in hand because it would be vulnerable to all kinds of perils and hard to transport to somewhere safe anyways...
I can see 90 % of city dwellers could not survive in a real serious collapse
of any size and scope...
Thankfully we have vast areas of nearly inaccessable wilderness where one could subsist till the worst blows over, but this is a dire situation in its own right.
It seems to me that if the situation has gotten to such straights then the logical and best chance for us all is to confront the powers that be and do it before we become an empoverished half starved rabble....
The people of other countries have recently made changes by simple power of numbers in the street demanding change.
If we look at the fall of the communist bloc we can see that when the majority has had enough there is little the rulers can do but aquiesce to their demands..eventually....
Perhaps we need just such an occurrence as a major collapse to trigger that awakening in the general public.
Change will not just happen.....
We need to find the common cause that will weld the populace into concerted action.perhaps gentlmen, and women, this is it?

Originally posted by earthdude
We don't have any money to make a run on. THis is not 1930. We are all in debt. You can't withdraw what you don't have.

In response to the above statement!!

The Promissory Note To Pay Our Debts

HJR-192 of June 5, 1933 is the promissory note (the promise of Abraham) the government issued to balance the exchange to credit the people. The Promissory note is on the debit side of the United States Governments ledger, which was a debited from their credit, created by the Executive Order of April 5, 1933 when they took the gold out of circulation. Public Policy is rooted in HJR-192 and is Grace that creates our exemption. This is your temporal saving grace. Under grace, the law falls away to create a more perfect contract. Public Policy removed the people's liability to make all payments by making a contract null if it required the payment to be in substance, because the people didn't have any money to pay with. All that must be done now is to discharge the liability. Pay and discharge are similar words but the principles are as different as Old and New Testaments. The word "pay" is equated with gold and silver, or something of substance like a first-born lamb, which requires tangible work to be invested in it to remove the liability because an execution must occur. The word "Discharge" is equated with paper, or even more basic, simple credits and debits, that exist on paper only, like the slate held by the agents/angels of heaven that get swiped clean. You cannot pay a bill with a bill and you cannot pay a debt with a debt.

What HJR-192 did was, remove the liability of an obligor (someone obligated to pay a debt) by making it against Public Policy to pay debts. All that needs to be done now is discharge the debit with an appropriate credit "dollar for dollar." Debt must be discharged dollar for dollar in the same sense, as sin was discharged on the Cross. The moment a debt exists, it must be written off. The catch is, we can't write off the debt because we are not in possession of the account in deficit; our fiduciary agent is in possession of the account so we must provide him with the tax return (by the return of the original offer) so the fiduciary can discharge the liability through their internal revenue service (the bookkeeper). Most feel that when the money was taken out of society, the people became the slaves, this is not true, the people were freed from every obligation that society could create thus freeing the people from any obligation which they may incur simply because we cannot pay a debt. Ask yourself the question, What are you charging me with? And how do you expect Me to pay? Simply said, there is no money, plain and simple for me to make the payment with and on top of that, if I were to pay, who is paying Me to pay that guy and who's paying that guy and so on... Public Policy is the supercedious bond because it limits our liability to pay. It is the more perfect contract because it operates on grace to pay our debts after we have done all that we can. We go as far as we can to fulfill the obligation (acceptance and tax return) and after we have done all we can, mercy and grace kick in being our exemption to make the payment. Grace creates our exemption in the industrial society so long as we accept the charge.

I posted this before on other threads, does anyone get it? THERE IS NO MONEY, only IOU's until they give us gold or silver for the worthless paper. If you have "cash" I strongly suggest buying silver and soon before it goes even higher. At least you will have something of tangible value.

You can't pay a debt with a debt!!! Or debt note. YOU owe nothing to any corporation, THEY are the "Constitutor", look it up, THEY are obligated to pay the debt as OUR signature GAVE them the authority to "print" money to begin with. It's OUR money!!!! This is the ignorance of the American people. You don't understand or know HOW we got here and WHAT the grand plan is. WHO are you? What are you?

There have been many threads on this too.

[edit on 11-4-2010 by daddio]

reply to post by stirling


No. The answer is not to allow or support SHTF to happen. Each and everyone of us has an unwritten duty to each other, to our family, relatives and friends. This is our society and it needs each and everyone else help. No man is an island.

Mankind will ALWAYS make mistakes. It is natural. BUT we have the capacity to correct our errors. It was greed that resulted in the financial crisis.

Greed by the Corporations. Greed by our over powering consumerist behaviour. No one pointed a gun at our heads to spend recklessly using borrowed money. We did ourselves in.

Now we must pay that price, and responsibly. Blaming each other or anyone is not gonna help, rich or poor.

The financial crisis had to happen, so that mankind may realize it is on a destructive path. Better now, than the the next few generations to suffer, as our memories of past mistakes are fresher, and would be easier to correct them, by us who are responsible.

I do know that some who are way over their head in debts or lost a lot in this crisis are in misery, and misery loves company. However, wishing the whole world to collapse, or SHTF is absolutely irresponsible if not inhuman to the many other innocent humans.

We have the capacity to change and correct our errors in this present economic system, which had proven workable, rebounding only within a year instead of years as expected and as assumed based on the 20's depression.

Jobs are created, orders filled, money had circulated. The doom had been averted. For those still in misery, change for the better will have to come from us and ride upon the help and opportunities others are offering who had courageously work their way through this crisis, as evident in the growth in the economy.

Good Luck! :-)



[edit on 11-4-2010 by SeekerofTruth101]

Interesting thread ...I dont think there will be a run on an bank to be honest although I strongly beleive there isnt any money well not money as we know it to be..And I also beleive its all based on IOUS you have only got to look at the dirivatives
peace

Originally posted by muzzleflash
It's pointless too.

You can't run on bank that uses electronic credits.

They are infinite.

They just make up new money outta nowhere.

Please tell me you are joking. You do know how a run on the banks works right?

Just in case you're not joking...

Any bank is required to only hold 10% (?) of the finances on its books. The rest simply does not exist in Gold, Silver or currency. It is just imaginary money for which they demand interest on loans etc. Profit for nothing but giving the customer a series of digits.
A traditional run on a bank results in lines of customers demanding their CASH from that bank.
If the bank only holds 10% of the wealth reported, only 10% of the people will ever see their cash before the bank is forced to close. That leaves 90% of people having been ROBBED of their property and wealth.

We're not talking about a run on a bank where you transfer your money from there to another. This is about people demanding their CASH and the cash not existing.

Again, I really hope you were joking or playing devil's advocate. If not, you really do need to investigate how the financial world works.

This is another "one of those" threads...
There will not be a run on the banks. THE SYSTEM IS BROKEN, but it's designed to operate broken. Thats the marvel of this crazy system we all are a part of. It was designed by some very smart people who have just as much to loose if the system fails. How many of these threads do we have to suffer through?

Since we can't de-star you:

EPIC FAIL!!!!!!!!!!

[edit on 2010 by tsloan]

Originally posted by tsloan
This is another "one of those" threads...
There will not be a run on the banks. THE SYSTEM IS BROKEN, but it's designed to operate broken. Thats the marvel of this crazy system we all are a part of. It was designed by some very smart people who have just as much to loose if the system fails. How many of these threads do we have to suffer through?

Since we can't de-star you:

EPIC FAIL!!!!!!!!!!

[edit on 2010 by tsloan]

hey, but you'll have to admit, it is Epic. thanks for the compliment!

Banks are only instruments of saving and security.

A basic example:-

When you deposit $1000 to the bank. it will keeps $700 of your money in the safe and then loan out $300 to others. The bank earns an avg $18 in interest per year(6%) on the $300 loan and pays you $15 (1.5%) interest for your money.

Extrapoliate that amount to bigger numbers and depositors and billions will be shuffled around. The difference will be the earnings for the banks. Rates and holding book value regulations may differ between banks and countries, but the basic principle of operations remain the same.

So in the event of a run, the bank will be able pay you $700 upfront, and with the govt's guarantee to make up the $300 shortfall, you will be refunded in full.

This is how the system works. Cash exists. Deny ignorance.

Edit: if you are wondering what happened to the $300 loaned out, the answer is that the bank will be responsible to claw back the loan from hirers over time or by foreclosure.

And the govt's guarantee to pay the differences is not charity. It comes with interest attached, payable by the bank back to the govt.

[edit on 11-4-2010 by SeekerofTruth101]

reply to post by tsloan


Absolutely. Everyone just get a grip.

That MSNBC rant did not even make the footnotes, not on MSNBC, or any other News or Financial publication or blog. It's really all old news anyway and we know it was a contributing factor to the # we are in today.

As for Greenspan? - Guilty as charged, but.... we also already know that.

Ive got a question..what does it mean when the fed money base (money creation) declines ??

Originally posted by DarkspARCS
Some additional reading...

and hopefully, some honest ponderance on what's being said, and a honest approach towards heartfelt intention... has it been shown that the banks are raping our economy, and sucking the blood out of America's veins with thier leverage schemes and interest rate tallies? what about the falsification of current numbers?

Who else has heard of this weird banking policy?

I went to the bank to cash a check. The bank cashier said that they can't cash it since it was written from a different bank and I have to have the amount on the check already in my account in order to cash the check--as if I am withdrawing. I said, I have done this so many times before and no one has said this before, and she asked me who let me and said they're violating policy. I said, the manager. He came out and signed it and let me do it and said I can do it because of "the relationship I have with the bank and because we know you" that they let me do it. wtf. I thought on the way home something smart I could've said: "so if I won a million dollars in the lottery, I couldn't cash the check because I didn't already have a million dollars in my account?"

Who else has heard of this banking policy?

So what happens when someone writes you a bad check for $1,000, you cash it with $5 in your account, and then it bounces? Is the bank supposed to take on all of that risk for you? Your example made me laugh because we actually have people come in once a month or so with bogus lottery checks (its one of the scams out there).

It will be pretty amusing to hear what the irrational and uninformed in this thread think when business and banks open as usual on Monday and nothing is wrong.

This is an excellent example of a mental issue I see that is pervasive on ATS. The mental issue: people hoping bad things happen and defending any thread that promises doom.

There are real problems out there facing this country, but the white noise of bogus claims like this thread or making it more difficult for people to truly understand the issues out there. But alas, the banks will open Monday and people will have access to their cash, and the OP and the other people saying there is a bank run will be disappointed. Of course then they will just start and gravitate to another thread promising doom based on some misunderstood observation without facts.

[edit on 11-4-2010 by johnny2127]

in stockton, cal.....you can only withdraw large amounts of cash from wells fargo in the downtown branch...outlying branches do not have the cash. however...it's been like that for awhile...so i'm not worried...here's a quick website for currency values:


www.marketwatch.com...

[edit on 11-4-2010 by jimmyx]

double- post ....sorry


[edit on 11-4-2010 by jimmyx]

Originally posted by Cytokine_Strom
Citibank require 7 days notice to withdraw funds

“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.”

This has been news for some time now I assumed most people would already know a out this.

Google: citibank 7 day withdrawal.

Thanks, I did:

Update: Citibank has now released the following statement by way of explanation: "When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future."

www.businessinsider.com...

In this post from another thread:

Originally posted by DarkspARCS

 

Las Vegas.... Welcome home America! My chair, and my Glock .45 will be in front of the doors, waiting to sign.

In this post from this thread:

Originally posted by DarkspARCS

I keep my cash in a money belt, underneath my Glock 22, which I've been wearing a lot lately. In Nevada, you can wear your gun on your hip, as long as it's exposed.

You seem to either like to boast of your guns or tell tall tales or both.

To answer query in OP. Is a run on American Banks in progress? You be the judge: NO by reason of OP insanity.

FYI:

If you have a personal checking account at a bank in the USA your Financial Institution (FI) may have policies governing the amount of money you can take out at one peticular time. You obviously can't walk in to the bank and request that all of your one hundred thousand dollars be presented with out any prior warning. Every bank's branch suites the needs of its community; if it's members routinely ask for large amounts of money at one time it will keep alot on hand to services their needs. However, many FIs now require customers to sign Large Cash Withdrawal notices thereby eliminating liability if you were to walk away from the branch and your cash was lost or stolen. Your best bet is to call your FI and ask if they require notice of large cash withdrawals.

Source

BTW, I know where there is an ATM machine dispensing crisp $100 bills. But unfortunately, I can’t tell you where it is.

I call BUNK.


[edit on 11-4-2010 by kinda kurious]

Originally posted by Cytokine_Strom
Citibank require 7 days notice to withdraw funds

“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.”

This has been news for some time now I assumed most people would already know a out this.

Google: citibank 7 day withdrawal.


I also find it interesting that Ted Turner said on talkshoe radio that there was to be a run on the banks in the third week of April.

Originally posted by SeekerofTruth101
Banks are only instruments of saving and security.

A basic example:-

When you deposit $1000 to the bank. it will keeps $700 of your money in the safe and then loan out $300 to others. The bank earns an avg $18 in interest per year(6%) on the $300 loan and pays you $15 (1.5%) interest for your money.

Sorry.. but where do you live? And in which time? It seems you came from the 15th century medicean Florence when things really worked in that manner.

Unfortunately nowadays when you put your money (let´s say 1000$ like in your example) in your bank, your bank use that money only as warranty for its "investiments". That investments can be money landing or playing with shares or derivates.

For law that warranty that the bank should give was only the 2% (so your bank with your 1000 $ put its hands on and use 50.000$) but in last 2-3 years it has been increased to 3,2%... so your 1000$ will magically be 34.000$ for the bank.

The difference? It is given by FDIC or other private institutions... depend on country and laws..

So.. the problem is that.. if the investment go well the bank has a big gain (10% of interest for 34.000$ minus 2% on 34.000$ because it borrowed that amount = 3.400 $ - 640$ = 2760$. Minus the interest it pay you on your 1.000 $ (let´s say 1000$ at 2% = 20$) so its gain will be 2740$.

The problem come when it loose that money.... because it is like it use a 1:34 leverage: it doesn´t anymore have your 1000 $ but it doesn´t have also other 33 people 1000$...

Deutsch bank has yet 1:50 leverage... and big big deep holes! But is too big to fail... because that would really mean that if you were so lucky you could withdraw your money.. they are only good quality paper.

Good luck!!!

[edit on 11-4-2010 by nuspy]

[edit on 11-4-2010 by nuspy]

reply to post by DarkspARCS



According to the FDIC's own Quarterly Banking Profile for the Third Quarter of 2009 which is dated Nov. 25, 2009, went bankrupt at the end of Q3 in 2009. Look on page 14 of the FDIC Quarterly Banking Profile (Q3 2009) to find that "The Deposit Insurance Fund (DIF) decreased by $18.6 billion during the third quarter TO A NEGATIVE $8.2 billion (unaudited) primarily because of $21.7 billion in additional provisions for bank failures."


www2.fdic.gov...
Quarterly Banking Profile for the Third Quarter of 2009


Central planner and FDIC Chairwoman Sheila Bair has confirmed separately that future bank failures will be funded by the bailout fund allotted to the FDIC.


www.nolanchart.com...
"FDIC Officially Goes Bankrupt"


Any Questions?

I am sorry, but you already overslept your first bank run on 9/15/2008, when
by 11:00 already 550 billion $ had been withdrawn, mostly by financial
investors.

The banking system expected another 5.5 trillion $ of withdrawals
for the same day, so the FED had to pull the break and freeze in
all transactions under way, raising immediately the guarantee by
the FDIC for each individual account to 250,000 $ to stop a general
run on the banks.

Had you not stopped the transactions mid-way, the US would have
defaulted the very same day. The $ for everybody would have
from then on been worthless.

See your member of Congress Paul Kranjorski on Youtube of 2/10/2009,
if it is still there.

I would consider a bank run now as pointless and irresponsible, because
it serves nobody and would drain necessary cash stock temporarily
until replenished by freshly printed bills, further devaluating your $.
Also, they would at once be limiting cash withdrawals, should a bank
run start again.

The idea is to withdraw the total amount of replenished money, once
the fugitive money seeks haven again in the banks or consumption.
But you all know your FED.

Northern Rock in the UK would have defaulted the Brits, had it
not been for government interventions through limitations of
withdrawals and by furnishing big loans to N.R. by the Bank of
England. There, too, the guarantees were not big enough to stop
the people from bank-running, when it started.

Germans seeing the runs on N.R. also feared for their trillions of €
of savings in German banks with their meagre guarantee of only
20,000 € ./. 10% loss per individual account plus an unlimited
voluntary insurance by the private banking system, which, however,
could cover the default of just one single medium-sized bank, but
not all banks.

I recommended, among others, the chancellor to stand in front of the German nation to declare all savings 100% safe. That stopped the
initial bank run. If worse, however, comes to the worst, her word
would not be legally binding.

Meanwhile the government and the banks have been dragging their
feet, for lack of money I assume, to install a legal FDIC-kind of
insurance for 135,000 €, still not in effect, while my country of
residence, Luxembourg, and other European nations already have
those laws as recommended by the European Commission.

In another forum in Germany the members were even using
web-cams nation-wide to control the entrance of banks to be the
first to run, when the guarantee hadn´t been given yet.




[edit on 11-4-2010 by Udo Hohnekamp Lux.]

[edit on 11-4-2010 by Udo Hohnekamp Lux.]