US Economy diving, All major bank stock prices dropping like a ROCK

Originally posted by ghostlandseller
So grocery stores go under all the time, WalMart then goes under, and target looks like its going to gun under. Thats a big deal.

Uhh..no. Not only does this example not happen in grocery stores, it doesn't happen in banks either. The existence of one bank is not dependent upon the existence of another.

Originally posted by ghostlandseller
just like in the banks. A few small ones go under. No biggie. its business, it happens, But when there are so many banks of this MAGNITUDE that are one the brink and doing all that they can to walk the tight rope of bankruptcy then it becomes a major issue.

Have you even looked at the banks that have failed in the past? Many of them, inflation adjusted, were larger than IndyMac.

Originally posted by ghostlandseller
thats the problem. All the families who could end up on the street because one night the bank closed it doors and kept all their money. i know what its like to not have access to my money, and to have my business taken away from me. It is hard, it is unjust and you have to fight and scramble to get by. you either have to dig yourself into a deep hole or get really creative like i did. and most will opt for the hole.

Pure, unadulterated fear mongering on your part. The banks do not "close their doors and keep all of their money." They get reimbursed 100,000 of their money, and then they get back a percent of the rest dependent on the assets recovered. Some previous bank failures have resulted in the FDIC reimbursing up to 100% of all assets over the 100k limit. Stop the scare mongering, your little vision isn't going to happen.

Anyone who is wealthy enough to have more than 100k in CASH assets isn't stupid enough to keep all that money in 1 bank, and if they are, the closure of their bank isn't going to result in them being homeless. Anyone with less than 100k in cash assets, which is the majority of people, wouldn't even notice their bank failing. If it happened on a Friday, as with Indymac, they would not be able to access their funds for a total of 48 hours.

[edit on 14-7-2008 by ALightinDarkness]

Originally posted by NuclearPaul
My mother is a credit manager at a bank here and says pretty much the same thing is happening here. Banks here are in a "take over or be taken over" situation. This doesn't look good at all. I think that those who have total reliance on money as a means of survival are going to suffer quite badly in the near future.

Hmm we only had a few banks here to start with (unlike the US where it seems every town has a different bank) and Australian banks are among the most profitbale in the world. I own shares in all the major banks - NAB, Commonwealth, ANZ, Bendigo etc. Whilst their share price may drop they are also in the black, they always make money. A share price tells a fraction of the story,

Originally posted by ALightinDarkness
Have you even looked at the banks that have failed in the past? Many of them, inflation adjusted, were larger than IndyMac.

I doubt that

IndyMac is the third-largest financial institution to fail in U.S. history, according to the Office of Thrift Supervision (OTS), which had regulated IndyMac.
seattletimes.nwsource.com...

Originally posted by ALightinDarkness
Pure, unadulterated fear mongering on your part. The banks do not "close their doors and keep all of their money." They get reimbursed 100,000 of their money, and then they get back a percent of the rest dependent on the assets recovered. Some previous bank failures have resulted in the FDIC reimbursing up to 100% of all assets over the 100k limit. Stop the scare mongering, your little vision isn't going to happen.

Really, I'd be curious as to which banks have failed and when have the FDIC reimbursed the customers 100% of their assets over 100k. Sounds ridiculous to me - what your saying is that banks have no accountability because even if they go bankrupt the FDIC will reimburse their customers for any losses.

Ohh having checked some UK highstreet bank stock prices we are in quite a fall also, although this will probably just promote buy ups

Lloyds TSB

Barclays

Halifax

reply to post by rogue1


And that is why you should check the facts instead of believing the media spin. Do you think the media is going to take the time to fact check or check the assets of previous failed banks inflation adjusted? Why no, because then they'd have no reason to panic. Not to mention explaining "inflation adjustments" to your average mass media watcher is likely to be pointless.

It takes 2 minutes of research to find out that, depending on the bank, up to 100% of assets over 100k have been reimbursed to depositors.

Percentage of assets reimbursed over 100,000 at failed banks:
Source: www4.fdic.gov...

Douglass National – 83%
Bank of Honolulu – 100% (FINAL)
National State Bank of Metropolis – 95% (FINAL)
Malta National Bank – 91%
Sinclair National – 82% (FINAL)
Hamilton – 88%
Net First National 100% (FINAL)
Southern Pacific Bank – 93%
Pulaski Savings Bank – 92% (FINAL)
Reliance Bank – 96% (FINAL)
Bank of Ephraim – 93% (FINAL)
Universal Federal Savings Bank – 99% (FINAL)
Dollar Savings Bank – 100% (FINAL)

FINAL indicates the FDIC has completed selling off assets and recovering funds, those not marked final can still go up to 100%. I didn't feel like pulling down the entire list for ATS members, who are of course never going to listen to me because I'm not preaching doom. But the random ones I did pull down shows even the dumb people who keep over 100k in banks aren't losing their shirts when banks fail.

The end, as always, is not nigh.


[edit on 14-7-2008 by ALightinDarkness]

HELP!! I have a question. If you have to put some money in a bank, I mean you can't stuff it all "under the mattress". We're spread out in Wachovia, Chase & Merrill Lynch. WHICH bank would you say "Get the h.. out NOW and what bank seems on the most solid ground??

I'm in the Western US. I'm following alot of this, yet not as in tuned as many of you seem to be. Oh this is funny, I'm not registered at this forum but this thread caught my eye, and I'm asking sincere advice from the ATS conspiracy forum!! Times have changed!
THANK YOU for any advice you have!

Didn't even try to find this it just kinda fell in my lap and it ties right in with what we have been talking about.

Wachovia, WaMu still in big trouble

Those ill-fated twins of the mortgage calamity, Washington Mutual (WM, news, msgs) and Wachovia (WB, news, msgs), are getting clobbered again, after some dramatic housecleaning at the top. Wachovia's board kicked out chief Ken Thompson last week. He was largely responsible for the bank's ill-timed 2006 purchase of Golden West Financial. An adjustable-rate-mortgage machine during the housing boom, Golden West tracked much of the muck into the house of Wachovia -- before it was obvious these loans would become so widely problematic.

full artickle

WELL! its 11am Central time here and the latest mid day stock reports for nearly the entire banking sector looks terrible!

Most stocks are down pretty big AGAN today. Even after news that the feds will backstop freddie and fannie!

As of now, the numbers as of the OPEN of TODAYs MARKET

Wachovia DOWN 13%
Freddie Mac DOWN 6%
JP Morgan chase DOWN 3.5%
Citi group DOWN 4%
Wells Fargo down 6%

Looks the same with nearly every banking stock.

These are HUGE losses already on top of HUGE losses just las Friday and couples with the previous week of sliding prices.

Unless these level out this is all happening before our eyes. Happening faster than i was expecting. I was thinking over a period of a few months but we could b seeign some major issues here within a few weeks!





[edit on 14-7-2008 by ghostlandseller]

NOT TO MENTION

washington Mutual


DOWN 30%!!!!!!!!!!!!!! JUST TODAY!

Previous close was $4.95 Now its down to $3.52!





[edit on 14-7-2008 by ghostlandseller]

My question is granted the stock market is plummeting and the Banking industry is showing it is going the same direction....were is all the money?It had to go somewhere didn't it?I mean someone is making this money that is being lost right? I understand the whole money is debt thing but it seems to me that all of this cannot be debt driven.There has to be money that changes hands somewhere.Who owns it now?

P.s.: Who here thinks that Fort Knox may be empty at this point?

[edit on 7/14/2008 by CaptGizmo]

HAHA Ft Knox has always been empty. Eve nif there was anything in it its not even a flake compared to the amount of money in circulation.

You want to see a very impressive gold backed economy!

Switzerland!

They have gold backed money. but their government only values their gold to be worth about $45 an ounce. So basically with todays market values their currency is backed by WAY more than its actual value! Really impressive!

i guess they don't waste all their money on a military so they jsut reinvest it in themselves. Sure seems to work!

It would be nice if we could do that but we have already pissed off most of the world. haha

Originally posted by ALightinDarkness
And that is why you should check the facts instead of believing the media spin. Do you think the media is going to take the time to fact check or check the assets of previous failed banks inflation adjusted? Why no, because then they'd have no reason to panic. Not to mention explaining "inflation adjustments" to your average mass media watcher is likely to be pointless.

Well then come on show me some bigger bankrupcy's. You seem to think your word is superior to the media's. I don't think you are any more credible than the media.

It takes 2 minutes of research to find out that, depending on the bank, up to 100% of assets over 100k have been reimbursed to depositors.

Maybe you should be more clear. In fact the banks assets are sold off to reimburse debtees. The FDIC does not cover it themselves.

Originally posted by ghostlandseller
HAHA yeah Shot guns and rifles are pretty readily available here in the South West US. Texas. haha If your father didn't have a bunch your grandfather probably did and there pretty readily passed on, and if not you can probably find an antique one sold at some junk shop out in the county without having to sign a bunch of paperwork.

But yeah, Better safe than sorry. I got a lot of silver piled up. already skyrocketing in value. in just the last few years my silver has gone from $5 an ounce to currently just shy of $19 an ounce. Almost 400% in just a few years! If that right there doesn't say something else.

Well to invest in precious metals is a wise choice for sure in such a fearsome situation, but still your guns won't save your asses from the National Guard and what you people call the NWO... to defend yourself against the military might that the elite possess, or to even dare tring to hit a few blows at their empire, you need some serious war organizing with other folks who want to resist and defend what's left of their freedom.

BUt then again, the question is: will you defend yourself against the elite, or against the empoverished who'll just be ready to die for having their share of the pie? Which side people like you really are on?

reply to post by Echtelion


Like I have said before it doesn't take much to resist with violence. We have what 300 Million people in this country. If even 1% revolted they would have a hell of a fight on their hands. You are also assuming the entire military will be on their side. I suspect there are at least a few officers and enlisted men that would refuse to do a round up. So now you have a splinter of the military.

Even if the militay didn't splinter our military can't control most of Iraq. How do you expect them to control the United States. Can't be done... There is no way they take this country by force. They may take us financially and we may submit. Then again if it gets really bad we may just throw out the bankers and start this country over again.

Personally I like the Switzerland post a few back... Sounds like they know what they are doing over there...

Originally posted by CaptGizmo
My question is granted the stock market is plummeting and the Banking industry is showing it is going the same direction....were is all the money?It had to go somewhere didn't it?I mean someone is making this money that is being lost right? I understand the whole money is debt thing but it seems to me that all of this cannot be debt driven.There has to be money that changes hands somewhere.Who owns it now?

P.s.: Who here thinks that Fort Knox may be empty at this point?

[edit on 7/14/2008 by CaptGizmo]

Ok a quick and VERY general overview of the stockmarket. A new company starts to get big, and needs a way to raise some additional money. They decide to "go public" and make an inital offering of stocks to the public. They work with analysts to decide how many stocks they will offer and at what price. Once those inital shares are sold, the company no longer has any ownership over them (unless C.E.O's etc. bought stock with their own personal funds). At this point the shares are owned wholly by the individual who purchased them. If the stock goes up that person makes money, if the stock goes down that individual looses money, it dosen't really directly affect the company.

Stock prices are driven (again speaking very generally) by supply and demand, so if more people want to buy the stock than there are people willing to sell it, the price goes up (to entice people who own it to sell), if there are more people looking to sell than there are people looking to buy, the price goes down to entice people to buy it. When the whole stock market is going down, it usually means a lot of people are pulling their money out of stocks completly (selling whatever they have) and looking for somewhere else to invest it or just hang on to it for awhile.

reply to post by rogue1


What exactly do you think the job of the FDIC is? Exactly what do you think the initiatory dividend yields are for those with assets over 100k? IndyMac depositors with over 100k were offered an immediate 50% return of all their money, with the rest pending asset sales. If nothing sales, they still get over 50% of their amount back. That is insurance. They do sell everything off and reimburse depositors as much as possible. They have a track record of doing that very well.

I'm not doing your research for you - again. I've already provided the links, the data is there, your denial about it...not my issue. You keep putting your faith in the mass media. I'm sure they are being honest and have no reason to pump utter doom like they always have before.

[edit on 14-7-2008 by ALightinDarkness]

Originally posted by rogue1

Originally posted by ALightinDarkness

Maybe you should be more clear. In fact the banks assets are sold off to reimburse debtees. The FDIC does not cover it themselves.

Maybe we all need to be a little more clear and take the extra 2 minutes to research... The FDIC is essentiallyan insurance company of sorts. If a bank gets in trouble more likely than not they do not have enough assests to cover their debts (hence the reason they would want to close up shop). In that case the FDIC liquidates or sells the assests that are available from the original corporation and uses that money to pay back what they can to the account holders. If there are accounts under $100,000 ($250,000 for retirement accounts) that can not be paid by selling the assets of the former bank the FDIC will reimburse the holders of those accounts regardless of how much they were able to pull in from the sales of assets. In many cases the FDIC has been able to pay back accounts over the $100k limit due to surplusses they had on hand at the time, but they only "guarantee" the first $100,000 in any account.


url=http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html]FDIC website overview[/url]

So what happens when the FDIC runs out of money. I have herd they only have aroud 50 billion in funds to cover loses not a lot if you think about it. So just saying if they run out and have to borrow more from China and in turn print more would that not put us in to a hyper inflation situation. The USA is broke and 20-50 trillion in debt, every thing is being auctioned off whole sale to foreign investor so tell me where the silver lining is in this. I am not a fearmonger I am a realist and things dont look all hunky dory and candy coated.

Originally posted by CaptGizmo
My question is granted the stock market is plummeting and the Banking industry is showing it is going the same direction....were is all the money?It had to go somewhere didn't it?I mean someone is making this money that is being lost right? I understand the whole money is debt thing but it seems to me that all of this cannot be debt driven.There has to be money that changes hands somewhere.Who owns it now?

P.s.: Who here thinks that Fort Knox may be empty at this point?

[edit on 7/14/2008 by CaptGizmo]

More Proven Connections
Between Jews and Communism
in Russia and the USA
Including the Banking Connections
Between New York Jews Financing the Red Revolution

www.jewwatch.com...