US banks shaken by biggest deposit withdrawals since 9/11

Originally posted by XalienagendaX

Originally posted by ajay59
Everyone is getting out from under the FRN to avoid being crushed. Now is the time to buy precious metals before they sky-rocket and before the dollar goes up in smoke!

edit on 25-1-2013 by ajay59 because: (no reason given)

Christ. I'm so sick of hearing this. I've heard it for the past five years, and guess what? It's all BS.

You sound pretty sure! Prove it wrong! Oh... that's right , you can not because you are presenting you're opinion as fact.

Where does the money come from?
We all know that the Federal Reserve CORPORATION prints money - then loans it, at interest, to our government. But wait until you see what a total scam this process is. But before we get to the meat of this issue, let's remember one thing about the very essence of banking - primarily that money should have some type of standard upon which its value is based).

So, with that in mind, let's look at how money is actually created, and at what cost. If the Federal Reserve wants to print 1,000 one-hundred ($100) bills, their total cost for ink, paper, plates, labor, etc. would be approximately $23.00 (according to Davvy Kidd in "Why A Bankrupt America"). Now, if you do the math, the total cost of 10,000 bills would be $230.00 ($.023 x 10,000). But, and here's the catch - 10,000 $100 bills equals $1,000,000! So, the Federal Reserve can "create" a million dollars, then LEND it to the U.S. Government (with interest) for a total cost of $230.
00! That's not a bad deal, huh!
The banking industry calls this process "seignorage." I call it outright THEFT. Why? Well, regardless of the immense profit margin ($1,000,000 for $230), plus the huge interest payments, our government then needs to STEAL the American people's money to payoff their debts via a Mob-like agency called the IRS. So the bankers steal from the government, then the government turns around and steals from the people. I'm no genius, but who do you think is getting screwed in this process? US - the people at the bottom rung of the ladder.

What's worse is that - now catch your breath - there's NO MORE gold left in Fort Knox! It's all gone. In other words, the GOLD STANDARD that our financial system was based upon is now an illusion. We can't convert our money into gold --- only other currency. The entire underlying basis for our money is now a lie - a sham. The Federal Reserve has become so arrogant that they've become a literal MONEY MAKING MACHINE, creating currency out of thin air! So that's where the Fed gets their money - they literally make it, then lend it to us so they can make even MORE money off of it.

Originally posted by Bob Sholtz
use your money to buy guns and stock up on food while it still has value! gold has no real uses, and is only valuable as long as the market lasts.

i wouldn't trade 50 bullets for a pound of gold if the dollar collapsed.

I agree with you completely. Of course, it would depend on how far society falls, but if everything totally collapsed to the point that factories, and virtually all companies shut down, even gold and silver aren't going to be worth anything to anyone. Survival in the wild, basically. People will fight and trade for food, weapons, shelter, heat, things like that.

Originally posted by RP2SticksOfDynamite
This only about 2%. Surely no impact until it starts to hit 20%.
Also its normal for folk to spend more in Jan.

A lot of people were getting out of cash and cash driven investments in order to beat the rise in capital gains.

In a collapse, commonly used and high demand commodities that can be taken possession of are always good ways to unload currency before it collapses.

That is what smart southerners did near the end of the War of Northern Aggression when the handwriting was on the wall of the collapse of Confederate currency.

Originally posted by gidwa

Originally posted by Bob Sholtz
use your money to buy guns and stock up on food while it still has value! gold has no real uses, and is only valuable as long as the market lasts.

i wouldn't trade 50 bullets for a pound of gold if the dollar collapsed.

I agree with you completely. Of course, it would depend on how far society falls, but if everything totally collapsed to the point that factories, and virtually all companies shut down, even gold and silver aren't going to be worth anything to anyone. Survival in the wild, basically. People will fight and trade for food, weapons, shelter, heat, things like that.

There ya go.

Simple, common, high demand commodities are more valuable to most people than metal, unless it's metal that can be forged into tools or weapons.

Originally posted by mblahnikluver


Since when does a bank have the right to tell me I can't have my own money

Pull a piece of folding money(to city slickers, that means paper currency) out of your pocket and read what it says at the top of the bill.

"Federal Reserve Note".

That is who owns that currency. It is the Federal Reserve's currency, not yours.

This is how it works.

The Fed issues currency, at whatever amounts they choose, and loans it to the government, with interest, who in turn issue it to you and me.

But the Fed owns it and has a lien on it.

So, the banks, as part of the Federal Reserve System can indeed tell you that you cannot have "your money", because it is not really yours.

Get it?

By the way, if the Fed wants to, they can claim your property since it was bought with their currency.

Do a lot of research into the Federal Reserve System, which is a private banking consortium, and not a government agency. Start with a book titled: The Creature from Jekyll Island

Start here:

educate-yourself.org...

Originally posted by cornucopia
Where does the money come from?
We all know that the Federal Reserve CORPORATION prints money - then loans it, at interest, to our government. But wait until you see what a total scam this process is. But before we get to the meat of this issue, let's remember one thing about the very essence of banking - primarily that money should have some type of standard upon which its value is based).

So, with that in mind, let's look at how money is actually created, and at what cost. If the Federal Reserve wants to print 1,000 one-hundred ($100) bills, their total cost for ink, paper, plates, labor, etc. would be approximately $23.00 (according to Davvy Kidd in "Why A Bankrupt America"). Now, if you do the math, the total cost of 10,000 bills would be $230.00 ($.023 x 10,000). But, and here's the catch - 10,000 $100 bills equals $1,000,000! So, the Federal Reserve can "create" a million dollars, then LEND it to the U.S. Government (with interest) for a total cost of $230.
00! That's not a bad deal, huh!
The banking industry calls this process "seignorage." I call it outright THEFT. Why? Well, regardless of the immense profit margin ($1,000,000 for $230), plus the huge interest payments, our government then needs to STEAL the American people's money to payoff their debts via a Mob-like agency called the IRS. So the bankers steal from the government, then the government turns around and steals from the people. I'm no genius, but who do you think is getting screwed in this process? US - the people at the bottom rung of the ladder.

What's worse is that - now catch your breath - there's NO MORE gold left in Fort Knox! It's all gone. In other words, the GOLD STANDARD that our financial system was based upon is now an illusion. We can't convert our money into gold --- only other currency. The entire underlying basis for our money is now a lie - a sham. The Federal Reserve has become so arrogant that they've become a literal MONEY MAKING MACHINE, creating currency out of thin air! So that's where the Fed gets their money - they literally make it, then lend it to us so they can make even MORE money off of it.

Not a bad deal for the Fed, huh?

Earn interest off of something they create out of thin air.

Then, make loads more laundering invented currency from drug cartels.

Now that we know the Federal Reserve is a privately owned, for-profit corporation, a natural question would be: who OWNS this company? Peter Kershaw provides the answer in "Economic Solutions" where he lists the ten primary shareholders in the Federal Reserve banking system.

1) The Rothschild Family - London 2) The Rothschild Family - Berlin 3) The Lazard Brothers - Paris 4) Israel Seiff - Italy 5) Kuhn-Loeb Company - Germany 6) The Warburgs - Amsterdam 7) The Warburgs - Hamburg 8) Lehman Brothers - New York 9) Goldman & Sachs - New York 10) The Rockefeller Family - New York
Now I don't know about you, but something is terribly wrong with this situation. Namely, don't we live in AMERICA? If so, why are seven of the top ten stockholders located in FOREIGN countries? That's 70%! To further convey how screwed-up this system is, Jim Marrs provides the following data in his phenomenal book, "Rule By Secrecy.
" He says that the Federal Reserve Bank of New York, which undeniably controls the other eleven Federal Reserve branches, is essentially controlled by two financial institutions:
1) Chase-Manhattan (controlled by the Rockefellers) - 6,389,445 shares - 32.
3%
2) Citbank - 4,051,851 shares - 20.
5%
Thus, these two entities control nearly 53% of the New York Federal Reserve Bank. Doesn't that boggle your mind? Now, considering how many trillions of dollars are involved here, and how the bankers are WAY above our "selected" officials in Washington, D.C., do you think the above-listed banks and families have an inordinate amount of say-so in how our country is being run? The answer is blindingly apparent.

perhaps a more concise definition of DEPOSIT WITHDRAWLS is needed here


for exmple in the 4th Quarter of 2012 i took action to close my B of A account and the 2 automatic deposits they were receiving every month for the last 10+ years

i went with a local Credit Union, and successfully reordered by 2 direct deposits to the new bank facility within the same month


does the Bank of America count the lack of my direct deposits as a deposit withdrawl
or are we talking about continuing accounts in which that $100+ Billion was withdrawn and will somehow return to the bank balance sheets over time.


i believe that there have been millions of individuals who have closed their accounts at TBTF banks in favor of utilizing the local Credit Unions and the community having larger ammounts of funds to lend out
instead of the TBTF behemoths using monies that were once used for loans/lending...being restricted to Bonus use only

A few people here had mentioned trying to get 5 or 6 thousand dollars out of the bank and being told there wasn't enough cash on hand to give them their money. Being naive, I had always assumed a bank branch had huge amounts of money in their vault, maybe like $100,000 at every location, I don't know. So, these comments intrigued me.

I was going to the bank today, anyway, so I asked the teller about it. I told her a third party had told me you can't take out $5,000 because they don't keep cash like that. I expected her to tell me I was wrong, but that isn't what happened. She said, "Well, we probably wouldn't tell you no for $5,000, but anything much more than that and you would be right. They really don't want us keeping a lot of money around". I was surprised, and I asked if it was because of the potential for bank robbery. She said "Well, yes, that and other things", and wouldn't specify what the other things were.

If I wasn't thinking something was up before, the way she whispered, and said "other things", really made me a little uneasy.

Most branch banks only keep enough cash on hand to cover their average daily cash transactions.

Some amount of thousands requires attention by or for the DHS, FBI, IRS, DEA... I thinks that's all of them.

Terrorism, RICO, tax evasion, drug trafficing.

Soon to be added

social welfare fraud, safety and health permission, proven need to have cash, explaination of cash withdrawl.

Originally posted by ajay59
Everyone is getting out from under the FRN to avoid being crushed. Now is the time to buy precious metals before they sky-rocket and before the dollar goes up in smoke!

edit on 25-1-2013 by ajay59 because: (no reason given)

Where are the safe havens?
Treasury Notes? Platinum?

Time to buy real estate? I see new home construction taking off.

Originally posted by gidwa
A few people here had mentioned trying to get 5 or 6 thousand dollars out of the bank and being told there wasn't enough cash on hand to give them their money. Being naive, I had always assumed a bank branch had huge amounts of money in their vault, maybe like $100,000 at every location, I don't know. So, these comments intrigued me.

I was going to the bank today, anyway, so I asked the teller about it. I told her a third party had told me you can't take out $5,000 because they don't keep cash like that. I expected her to tell me I was wrong, but that isn't what happened. She said, "Well, we probably wouldn't tell you no for $5,000, but anything much more than that and you would be right. They really don't want us keeping a lot of money around". I was surprised, and I asked if it was because of the potential for bank robbery. She said "Well, yes, that and other things", and wouldn't specify what the other things were.

If I wasn't thinking something was up before, the way she whispered, and said "other things", really made me a little uneasy.

I wonder if the 'other things' might simply be that they don't want a *potential* possible large withdrawal in cash by a lot of people at once (a run) but I find it hard to believe that a bank wouldn't keep much more than that around in cash. That really doesn't lend itself to having much faith in these places, perhaps they are nothing more than large number crunching operations (casinos?), simply 'loaning out' 1s and 0s on a computer. hmmmmm...

reply to post by spy66


I agree, and it is a terrible/sad folly of human nature. To show you how dumb we are as a species, try this little mind experiment. Lets say the world economy crash. Like seriously crashes. Im talking worse than 1929. More than likely most people would freak out and we would have rioting, looting, ect... would you agree?

the sad part being, if this cute virtual economy of ours crashes, what really physically changes in the real world? Nothing! The farmlands are still there to be worked by farmers. Oil rigs would still be there, ready to tap into that oil.

We could survive a catastrophe like this if everyone just kept doing what they normally do. Go to work. Take only what you need from the grocery story. ect.

But of course that is a silly pipe dream. People would freak out on a large scale. Even though nothing would have changed except for this artificial system we have in place that our survival is really not dependent on.

double post