| | 20 Reasons Why America's Next Bank Holiday Will Be a NightmarePage 1 of 4 (1, 2, 3, 4) | the US experienced a banker holiday back in 1933 & a lot of people were cleaned out and/ or ruined. here's what to expect if it happens soon:
1. Bank holiday will create a virtual blackout of information to all your accounts & payments. your balance will read $0
2. Businesses will stop accepting checks or money orders
3. All checks in the US are cleared thru automated clearinghouse ACH. if it goes down, no checks go thru
4. Credit cards will not be accepted
5. Except for a few, Social Security payments that are direct deposit will cease
6. Military payments are direct deposit too, will not be paid
7. State & Federal employees will not get paid
8. Cashless society dependent on debt cards will run out of physical money quickly
9. ATM, debt card transactions & online banking can be shut down in minutes
10. Places like PayPal will be sharply degraded, online payments will be dead in the water
11. No more automated payments
12. Wire transfers will be suspended freezing global commerce
13. Ability to process credit card payments will be dubious
14. " Cash only" pay at the pump will become mandatory
15. Most families don't have enough money at home to cover 1 months rent
16. Electronic food stamps will disappear. Riots will ensue if the poor start to starve
17. Gift cards will be iffy. Depends on the vendor
18. Mail order will slow to a snail's pace
19. Post offices may not be able to cash its mail order for you or stamp booklets that are open
20. Bank safe deposit boxes will be inaccessible
not so bad, right? :/
full article at:
http://www.survivalblog.com/2012/06/20-reasons-why-americas-next-bank-holiday-will-be-a-nightmare.html
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so how is the Eurozone handling all their banker holiday fun? let's find out.
Steve Quayle has released an alert from his international banking contact advising that his sources are informing him a Spanish bank holiday is imminent, and it will spill over to the rest of the PIIGS and even to FRANCE.
His contact also states that Morgan Stanley is the next Lehman Brothers due to its Euro and Facebook exposure, and investors have until December at the latest to close all equity accounts, exit the markets, and acquire gold and silver.
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From SteveQuayle.com
Steve tell your listeners to ignore ETFs and continue buying Physical SILVER and GOLD no matter what “spot price” is. Please tell them to take cash out NOW!!!! Only keep in bank what you can afford to lose and what you need to pay bills and expenses. Please tell them to get money out NOW!!! They have till December the latest to do so. Be mindful it CAN HAPPEN SOONER. Prices of Metals without manipulation $1000 SILVER $5000 GOLD—Steve Great show Im listening to you right now.
Here is the latest truth on Spain. The bailout already happened by stealth from very reliable sources. My sources are never wrong. The Bank holiday is going to spill over to Spain, Portugal and France. The Flight to safe harbor now is the UK. From there you will see flights to the US dollar. The main players have moved to Gold. Watch for another shock to SLV and GLD market. This will cause shaky uncommitted hands to dump more SLV and GLD physical. ETF markets will take massive hit.
Germany will start to have massive upheaval as their banks Duetche Bank in particular is over exposed to Spanish Flue, solvency crunch will hit Germany, look for Germans to go mad over the fact they can not have access to their funds.
Evolving….. Dollar only rises with IR Swaps and flight to “safe currency” once derivative market bursts all of this goes parabolic high velocity crash. This is due to the fact that the dollar is exposed as WORTHLESS due to the overleveraged CDS exposure.Very little SILVER left to be mined. It is a precious and Strategic metal. SILVER will be less plentiful than GOLD.Steve Russian economy willl suffer greatly due to Euro Collapse. This is due to the dependency that the Russian economy has with Euro zone energy exports. (GAZPROM) Greek crisis has hurt Russian Natural Gas exports.
Russians are angry at Eurocrats due to their inability to fix the crisis. They are blaming the whole entire western banking system for the recent decline of the Ruble. Steve some of the investors that lost big in Iceland were the Russians and guess what? They are vested in Greece as well. Take to account this along side with recent NATO aggression does not work to help this particular situation.Steve remember Deutsche Bank is #2 only to PNB Paribas the French Banking Giant. The kicker here is that both of their derivative exposure combined is over $125 Trillion!!! You have to be solvent in order to be liquid. This is a solvency crisis. The average joe on the street is duped into thinking it’s liquidity. There is no liquidity.Chinese will back Yuan with Gold. They are stealth dumping US Tbonds. Have not been in any major bond auctions for the last year or so. Will form new banking/ trade system with BRICS—Morgan Stanley is next Lehman bros due to Facebook and Euro exposure. Close all equity accounts and exit markets now.
www.silverdoctors.com/alert-from-international-banker-close-all-equity-accounts-exit-markets-now/
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Sounds like fun. What do you think it's going to be like?
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 3:02:49 AM | Just another gold tout, doomsayer, who's trying to get everyone to buy gold so his gold will increase in value.
When nobody has any money to buy or sell gold with, what do you think is going to happen to the price of gold ?
Do people think they are really going to shave off a few grams from a gold bar and go to the grocery store to buy food with it ?
If there were people on TV and all over the media, urging suckers to buy oil or pork bellies or wheat, what would happen to the price of those commodities ?
Gold is way way over priced and only a fool would get into it now.
Sure, another bank holiday would be very inconvenient but it wouldn't last very long and it wouldn't mean the end of society.
Now, if you really want a commodity investment for the future go with " rare earths ".
Right now, there's only one mine in the whole U.S. which produces such rare earths, like molybdenum, for rechargeable computer batteries. Anyone who can find another source for this will become incredibly wealthy. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 5:25:05 AM | #2 - i don't think you quite understand. this isn't a sales pitch. this is me telling all of you to get ready.
- japan & china #2 & 3 economies in the world don't use the dollar anymore to trade with each other
- australia was bought out of it's gold last fall by an unknown billionaire
- all of asia is buy gold like there's no tomorrow
- iran will not accept the dollar. only gold for its oil
- iran to cut off europe july 1st who buys 20% of their oil. india walked in with gold & took the contract
- donald trump said this week that obama made a deal with saudia arbia to keep oil price down til the election
- the eurozone is bankrupt as of today. read the article again
- gold & silver are being manipulated on the market. once the trading paper is separate from the physical, it will explode.
- US coins pre-1964 have silver in them. Canada - pre-1969
- derivative- for every dollar the bank has, they can lend out 10 more. some lend out 100 more
- if everyone recalled their money at once, there wouldn't be enough to go around. oops...
- paper money is a counterfeit system. they're basing it's value against nothing
- the world derivative market by the idiot banksters is over $750 trillion (yes with a T)
- morgan stanley is the big bank to go down. jp morgan will absorb it to cover its derivative debts
- the rest of the banks will cut back & down size
- how are you going to pay for anything if you get cleaned out during a banker holiday?
- china is buying all your debt & assets
- US cars are being built in china. you're getting cut outta the loop
- china was handed the bank ICBC
- Obama signed an executive order for a federal take over of ALL resources during crisis/martial law
- the Fed is owned & operated by foreign banks
- when they finally edit the Federal Reserve, you will see how cooked the books really are
- Lindsey Williams "the dollar will be dead by the end of 2012"
now if all your assets are tainted, gone or disappearing, how is your country going to pay off the money you owe? that's just for the interest too, think $3 trillion is due soon & you don't have it. if the states default on their T-bills, it's over. remember that once the dollar defaults & the gold standard comes back, the US won't be allowed to print their way out any more. for every dollar they print, each dollar devalues based on its overall amount on the market.
now think about all the radiation being spread amongst the northern hemisphere from fukushima (still going.. fyi winds are separate from north & south hemispheres). when people wake up to the fact that most of the produce is contaminated with cesium since april 2011, nobody is going to trust the food any more. i don't even have the time or space to start going into the effects of aspartame or genetically modified foods. none of this is safe yet we believe what we're told & continue to consume it. not to mention the weather has been wild world wide causing fields to fail and farmers to go bankrupt. then there's nano-tech technology in certain foods. it came out this month it was connected to kids with autism.... it just goes on & on.
so i ask you - who's going to grow all the food if the farmers are all forced out? hell who's even going to have the money to buy the food after the economy bottoms out anyways?
i reiterate - get .... ready.... now... while you still can. thank you | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 5:51:50 AM | #2 - i don't think you quite understand. this isn't a sales pitch. this is me telling all of you to get ready
I sincerely appreciate the warning, but quite honestly, this is all old news. Your list of concerns has been floating around in one form or another since at least 2000 and has been imminent since 2001. Turn the radio off from midnight to 4am. Get a dog. Maybe a golden retriever. Go for a walk. Twelve years will pass in the blink of a fantastic, loving eye. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 6:58:33 AM | This post reads like one of those midnight commercials directing people to 'Send us your scrap or broken gold!', with the clear implication that, because it's (a) not actively worn (jewelry) anymore or (b) in need of repair (broken prong, etc), it's gold which has somehow magically depreciated in value and is therefore worth less than 'good' or 'unbroken' gold. It's still GOLD. Gold is gold is gold, no matter the condition ... but I digest ...
The list of things here reads like a list of 'what if's. Could they happen? Sure. Will they happen? Not bloody likely. The basis for this type of 'Armageddonal' thinking is at least as old as humanity, and people who engage in it - or, worse, actually believe it - have never outgrown the 'Mommy, there's a monster under my bed' stage of life. Does life have risks? Yes. Should we let fear of what MIGHT happen rule our life and alter our behavior? No ... but some people do. Those people should call their broker early and often to invest heavily not in gold, but in aluminum - as in aluminum foil. I understand they make very nice hats from it ... CoastToCoastAM must have had Quayle, Jones, or Dames as a guest last nite ... look, take a deep breath and Step. Away. From. The. Radio.
These are scare tactics for the uninformed perpetrated by the uprincipled. Believe at your own risk ... but if you insist on believing, send me your broken or scrap gold for - umm, 'safekeeping' - before the apocalypse, 'mkay ... | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 9:02:36 AM | I's a sceptic about anyone and anything but a lot of what the OP says is pretty hard to ignore and just because it aint happened yet doesn't mean is can't or won't ever happen.
Adding 2billion (just over 1/3 of the population) people to a finite planet in 22 yrs whilst using half of the worlds oil ever consumed in the same time frame is pointing to a pretty serious predicament around the corner.
I took the steps of getting off the grid, having a 2 yr rotational food supply, installing water filters and an underground 6000 gallon fuel tank a few years ago simply as an insurance policy....just in case
Even if these are scare mongering tactics to alleviate a fool from his money it's doesn't hurt one iota to do a little preparation.
If you insure your life, home, car and health isn't it just prudent to take out insurance for the rest of your childrens and your own future?
As a wise man once said, better a year or two early than a day late. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 9:11:01 AM | | --Much of what the OP has posted is right on. How it all unfolds and the timeframe is in question for me...but me & mine are tapped into folks who are looking at alternative ways of living, ethically....and the #s are growing. Laugh if you choose, call "looney" all you want. Shrug. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 10:01:35 AM |
1. Bank holiday will create a virtual blackout of information to all your accounts & payments. your balance will read $0
So. This is something that never happened before ... ? This same panic-y concern was supposed to happen at Y2K - and it didn't.
2. Businesses will stop accepting checks or money orders
Not all businesses accept checks or MOs now. They do it as a courtesy or a necessity to keep customers happy.
3. All checks in the US are cleared thru automated clearinghouse ACH. if it goes down, no checks go thru
If it goes down, no bills can be generated, either. Win-win.
4. Credit cards will not be accepted
There are places now that don't accept credit cards. Why is this an issue?
5. Except for a few, Social Security payments that are direct deposit will cease
As of 2013, direct deposit will be mandatory for SocSec payments. Whether those cease or whether the paper check gets lost or stolen, y' don't get the money.
6. Military payments are direct deposit too, will not be paid
See Nr 5, above.
7. State & Federal employees will not get paid
Now THAT's a win-win for everyone. We can get back some of the money we've already wasted on them.
8. Cashless society dependent on debt cards will run out of physical money quickly
So we'll have your 'Mad Max: Beyond Thunderdome' post-apocalyptic vision made complete ... ? Daaaaaaaang.
9. ATM, debt card transactions & online banking can be shut down in minutes
That can be done now. Is there a reason to point out the obvious ... ?
10. Places like PayPal will be sharply degraded, online payments will be dead in the water
Ever use PayPal ... ? It's normal service state is 'degraded'.
11. No more automated payments
Awwwwwwwwwwww ...
12. Wire transfers will be suspended freezing global commerce
Okay. So we'll be dependent on ourselves again. What's wrong with that ... ? It'll create jobs that were sent overseas.
13. Ability to process credit card payments will be dubious
It's dubious now. The ability to detect the obvious is strong in this one.
14. " Cash only" pay at the pump will become mandatory
Ever buy gas at a station in one of the 'back beats' of Mississippi ... ? Or after a natural disaster ... ?
15. Most families don't have enough money at home to cover 1 months rent
That means that 'some families' do. Make sure you're in that group and it's problem solved ...
16. Electronic food stamps will disappear. Riots will ensue if the poor start to starve
That would happen even if the stamps were paper. Remember Watts? Or NYC during the blackout?
17. Gift cards will be iffy. Depends on the vendor
People are still going to have time to worry about a 'gift card' if the apocalypse comes ... ? Daaaaaaaamn.
18. Mail order will slow to a snail's pace
It's already at a snail's pace. No one will notice.
19. Post offices may not be able to cash its mail order for you or stamp booklets that are open
Umm ... don't most people cash a 'mail order' (I'll assume you meant 'money order') at a BANK ... ?
20. Bank safe deposit boxes will be inaccessible
Just lose your key or your ID and see how accessible it is now ... | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 2:14:00 PM | So your saying that the Federal Reserve printing money is a good thing..gold & silver is real money...the dollar "Federal Reserve Notes" are printed paper with pictures on them...I like it when people say something they know nothing about...the only reason the dollar has not Collapsed, is the fact that the Federal Reserve Notes(the Dollar) is the world's reserve currency..and as I type the US is losing the status of worlds reserve currency, other countries are going around the dollar and trading gold for oil- India to Iran...China & Russia are trading in their own currencies..you see the US can print money at will to pay their debts..last year Alan Greenspan on "Meet the Press" said the US will never Default because we can always print more money....lets say I'm Greece and I owe your country the US 16 trillion, I then tell you that I will never default as long as my countries copier dosn't break down..my money is backed by my country (like the US)..would you feel good about the printed money that I'm sending you, do you see the luxury being able to print fiat money at will like the US is, along with the Federal Reserve Banking Cartel at its side.
**Fiat Money is money backed by nothing...now the US use to be on the gold standard we left that in 1971 so we could create moeney out of thin air...did you know the dollar is called the petro dollar on account of if you want oil you have to convert your currency to dollars in order to buy oil..the US is goig to lose that status like I said other countries are going around the dollar.
you need to leran about what real money is and how it is manipulated | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 5:46:29 PM | I don't think we will have bank holidays here.
Though some parts of Europe probably will.....
shortly.
The reason is the FED will just print up whatever is needed at the ATMs.
Banks may go bust, but then the US govt will just run em
and the branches will stay open.
If they are closed depositors will still be able to get their money out.
The reason Europe may well go thru this....
is their ECB cannot print money massively on a whim like our own FED can.
It must get all the countries to agree in order to do so.
Most will.
Germany won't.
ever.
So the euro is doomed unless that changes.
I am doubtful they can politically do
what must be done.
So within a year or so.....
The Great Depression 2.0 will resume it's ugly course. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/15/2012 8:34:16 PM | Gold and Silver are not real money.
There's no such thing as " real " money.
There is only value, and value can be measured by any way people agree to. If there was such a thing as " real " money, then the value of everything would be measured by this standard.
And it's not.
Anything can be measured in terms relative to the value of anything else.
How many bushels of corn = one barrel of oil ?
How many ounces of silver = one ton of coal ?
How many hours of your labor = one bag of groceries ?
Currency is simply a convenient measure which people have agreed upon to trade for things of value.
Currency doesn't fluctuate in value, the value of traded things fluctuate.
How much oil is one hour of your labor worth ?
The relative value of things is what changes and this is what people need to focus upon. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/16/2012 2:12:20 AM | All currency is based on trust and all of the points raised by the OP shows ways in which this trust can potentially break down.
When trust is lost it is very, very hard to get back and if the majority loose trust in the system then the game is over.
Sooo, we need to look for evidence that people are increasingly loosing trust in the system and the most obvious is flights to safety.
Just a couple of weeks ago Germany announced the release of 2 yr bonds paying.....wait for it...... 0%. 0% - 1.9% inflation and investors are gonna lose around 4% in value yet large financial institutions snapped them up.
Now who, in their right mind would lend large amounts of money to anyone if it was going to cost them for the privileged. Wouldn't it be much better just to put the money under the mattress?
This is how far down the road of mistrust we've come and it's never been so widespread in history.
As a wise woman once said. 'You can ignore reality but you can't ignore the consequences of ignoring reality' | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/16/2012 8:47:03 AM | What is a Bank Holiday?
It´s a day off specifically formulated for the Bank´s employee?
Will be the American Banks in the same timeframe´s operational structure as any other official holiday/day off?
"so how is the Eurozone handling all their banker holiday fun? let's find out"
In Spain, with 31 holidays between official and religiuos day off (state level, not counting autonomic regions) there is not mass´ suicides.
"From SteveQuayle.com"
Gold and silver will be the next buble to explode. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/16/2012 9:27:53 AM | How much of your labor does it take to maintain your standard of living ?
In 1970, the federal minimum wage was $1.60 per hour.
In 1970 the price of a barrel of oil was $15.00.
That means, that a minimum wage worker had to labor 9.5 hours to earn the value of 1 barrel of oil.
40 years later, in 2012 the federal minimum wage is $7.25 per hour.
The price of a barrel of oil is $84.00.
That means that a minimum wage worker has to labor 11.5 hours to earn the value of 1 barrel of oil.
A 20% increase !
Or, a 20% decrease in the value of labor over the last 40 years.
If we keep going on like this, no one will ever be able to work enough to earn the value of a barrel of oil.
Then we will all be effectively slaves on a plantation. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/16/2012 10:32:57 AM | | The gold bugs pushing this stuff do it to make money. Those are the ones paying for the infomercials. They make there money on the spread. Premium over spot vs discount to sell back, its a very wide spread. There are also alot of fees they charge. The fear junk, all BS, none of it is true. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/16/2012 5:23:45 PM | - ONADA fx Trade isn't accepting any trading activity from Thursday until Sunday. expecting a major market event Monday
- Britain's Central bank is alarmed & announced Friday they're getting ready for the imminent crash of the EU
- EU banks are on standby awaiting Greece's election results. the markets on Monday could be rocked.
- EU is one of America's strongest trading partner. if it fails, could take a decade for the US economy to recover.
- in this wake, the old EU might kick out England & reform a new German-Italy Holy Roman Empire. Germany wants to dominate & recover now. ( note: possible NWO agenda with the Vatican? perhaps. bankrupt the world they appear as the saviors with a world bank & world currency)
- a banker holiday here means they will clean you out
- in a cashless society, when the computer "accidentally" erases your funds, how are you going to recover it if the Feds take it?
- you don't think these broke banks aren't eying up your pension funds? fox guarding the hen house
- total EU government debt- $12 trillion. total US debt - $15.1 trillion and rising
- US $15.1 trillion debt is just it's cash view. the accural vien makes it more like $50 trillion
- when the banks fold, say JP Morgan, the US has to adsorb an addition $120+ trillion derivative debt. ouch... and that's only 1 bank!!
- ever read the story the grasshopper & the ant? i be the ant, silly grasshoppers
- haha gold & silver not money huh? what's in your 1964 change? what were gold sovereigns for?
- it stopped being used because it couldn't be manipulated as easily as paper. gold holds its value. always has, always will
- 50+ of the top financial advisers in the world think gold & silver will take off once they separate the physical metal from paper trading.
- atm gold is at $1627/oz, silver $28.66/oz
- gold will go up to $5000 - 10,000+ per oz. silver $60 then $120-500
- historically silver to gold ratio is 16-1. right now it's 56-1. gold goes to $10,000... do the math
- btw people advertising for gold know how dumb or misinformed the masses are. "damn Rick. we don't sell silver"
- Saudi Arabia invests trillions of dollars into the US economy. now imagine they pull that all out one day...
- America imports 13% oil from SA and exports manufactured goods & military defense contracts back.
- SA owns 60% share in Citibank. Incidentally the CEO of Citi Bank sits on the Board of the Federal Reserve that sets our interest rates and controls the economy.
- SA & China are building a huge new oil refinery without the dollar being involved. China is taking other reserves from USA as well
- so what happens if China decides to use it's EMP weapon on us that it's been working on? they could launch it from space & knocks out our power grids? everything goes down, will take up to 2 years to reestablish everything. a huge solar flare can do the same thing because you know we haven't been experiencing any unusual solar patterns lately at all... research 1859 | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/16/2012 6:30:51 PM | Derivatives: The Unregulated Global Casino for Banks
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SHORT STORY: Pick something of value, make bets on the future value of "something", add contract & you have a derivative. Banks make massive profits on derivatives, and when the bubble bursts chances are the tax payer will end up with the bill.This visualizes the total coverage for derivatives (notional). Similar to insurance company's total coverage for all cars.
LONG STORY: A derivative is a legal bet (contract) that derives its value from another asset, such as the future or current value of oil, government bonds or anything else. Ex- A derivative buys you the option (but not obligation) to buy oil in 6 months for today's price/any agreed price, hoping that oil will cost more in future. (I'll bet you it'll cost more in 6 months). Derivative can also be used as insurance, betting that a loan will or won't default before a given date. So its a big betting system, like a Casino, but instead of betting on cards and roulette, you bet on future values and performance of practically anything that holds value. The system is not regulated what-so-ever, and you can buy a derivative on an existing derivative.
Most large banks try to prevent smaller investors from gaining access to the derivative market on the basis of there being too much risk. Deriv. market has blown a galactic bubble, just like the real estate bubble or stock market bubble (that's going on right now). Since there is literally no economist in the world that knows exactly how the derivative money flows or how the system works, while derivatives are traded in microseconds by computers, we really don't know what will trigger the crash, or when it will happen, but considering the global financial crisis this system is in for tough times, that will be catastrophic for the world financial system since the 9 largest banks shown below hold a total of $228.72 trillion in Derivatives - Approximately 3 times the entire world economy. No government in world has money for this bailout. Lets take a look at what banks have the biggest Derivative Exposures and what scandals they've been lately involved in. Derivative Data Source: ZeroHedge.
to see the comparison charts, go to:
http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/17/2012 2:30:57 AM | | This happened because the US went off the Gold Standard in 1971 Nixon did it..this was a default because we didn't have enough gold<<< real money to pay our debts.. the US wanted to be able to print Dollars at will and we did the Dollar is a Ponzi..you need to watch a video called the "American Dream" on you tube it will make you smarter about what money is...the world thinks we have gold in Ft Knox but we dont we are out...NO AUDIT of Ft KNOX means there is NO GOLD in Ft Knox...every bar needs to be drilled! | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/17/2012 2:42:04 AM | Too hard to boycott mexican workers.... tyson is hiring illegal workers through other private companies to move their chickens around. Now that Obama is preventing us from deporting the young (under 30).. crap. And expect there to be enough work for everyone.
What we need is more rich folks to just die. Like Mayor Michael Bloomberg's 30billion dollars if he dies can give everyone 10,000usd. How many people will be happy? Darn.. he has a kid too.
How many billionaire jewish are there.... Mark Zuck, Bloomberg, Adam Sandler, Donald Trump, etc...
Why the heck did we let that happen? Creditors... not gold. Credit. Their wealth is built on credit. Matter of fact.. they can buy gold and throw credits at our face.
Find a way to stop people from having over 5 kids. Find a way to give jobs to US Citizens. Find a way to just nuke terrorism.
You know why Middle Easterns are often threatening us Westerners? Its because they haven't been nuked yet. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/17/2012 7:04:24 AM | Hi! And a Happy Fathers' Day to all those who are Fathers -- or have a father in the family to celebrate with!
I had to admit, but I'm not sure I completely understand what a "Bank Holiday" is.
Does that mean that the banks (or govt powers that be) would suddenly seize all our deposits and credit card rights permanently?
Or does it means that all rights to bank deposits and use of credit would be suspended for a period of time in order to "re-monitorize" or print more money? If so, does this involve "re-distribution of wealth"?
In the case of a temporary loss of funds:
If it became impossible to pay our open credit card bills for that period of time, would those of us with good credit have it ruined? Or would allowances be made? Would those of us with mortgages lose our homes in this scenario? Or would they be give opportunites to pay after the "bank holiday" ended? Would utilities be cut off?
What happened after the Bank Holiday in 1933? Have there been any actual Bank Holidays yet in Europe? If so, what the outcome? | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/17/2012 7:26:21 AM | @ Nr 26 ...
' ... I had to admit, but I'm not sure I completely understand what a "Bank Holiday" is. ... "
Well, you're probably not alone wondering what OP meant by the panic-y use of that as-yet-unexplained term. Here's Investopedia's definitions for that term. It appears that the 'OMG! We're all gonna DIEEEE!' interpretation is the one OP had in mind ...
http://www.investopedia.com/terms/b/bank-holiday.asp
Definition of 'Bank Holiday'
Any business day during which commercial banks and savings & loans institutions are closed for business to the public, specifically at physical locations. These holidays usually coincide with federal holidays in the United States, but each country defines is own bank holidays.
Infrequently, a bank holiday can also refer to a day where there is an emergency bank closure to avert a bank run. This type of bank holiday occurred as a result of the Emergency Banking Act of 1933 during the Great Depression in the United States.
Investopedia explains 'Bank Holiday'
In the United States, scheduled bank holidays do not necessarily coincide with stock market or capital market holidays, although they do tend to be federal holidays. There will never be two consecutive business days that are scheduled bank holidays (during which banks are closed to the public.)
Most online banking systems will still allow access by customers even on bank holidays. | |
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| 20 Reasons Why America's Next Bank Holiday Will Be a Nightmare
Posted: 6/17/2012 8:56:19 AM | Thanks very much for your explanation Kings Knight.
So, that means all my money would still be there on the following day?
I certianly hope so. And I hope that the Banking Law you describe would stil be honored.
But what happens if we get a new type of "Bank Holiday" by EXECUTIVE ORDER?
Don't forget that our new administration has just passed a new law giving our President pretty much unlimited power to do as he pleases in case of "National Emergency" -- the word emergency, not being clearly defined.
And don't forget that Rahm Emanuel has said "you never want to let a good crisis go to waste". Rahm is gone from office now, but many of Our current Administration is still there, and were very much in agreement with his statement.
Of course, an Executive Order like this one would be Unconstitutional But don't forget that the new law. And plese remember that some other of Obama's Executive Orders have been deemed unconstitutional (by some) as well.
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