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Inspiring Moments in Banking?

02 Apr

FDIC placard from when the deposit insurance l...

FDIC placard from when the deposit insurance limit was $2,500.  Today, deposits are guaranteed to $250,000.  Is that evidence of inflation?  (Photo credit: Wikipedia)

In “Big depositors in Cyprus to lose far more than feared, Reuters reported that,

 

“Big depositors in Cyprus’s largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

“Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, the source told Reuters, while the rest of their deposits may never be paid back.”

 

That description of the terms for ending the Cyprus Crisis is not absolutely clear.  However, I read that description to mean that anyone with over 100,000 euros in a Cyprus bank may lose 100% of his savings, but will receive shares in the newly recapitalized bank (recapitalized with his savings) equivalent to 37.5% of the value of his savings.  Thus, the depositor may be forced to buy stock he doesn’t want in his own failing bank with 37.5% of his savings, and then be forced to effectively donate the other 62.5%  to capitalizing that same failing bank.

You can use all the fancy words you want to justify that confiscation, but the confiscation differs from outright theft only in the fact that the Cyprus government—being a co-conspirator in that theft—has sanctioned that theft by law as “legal”.

Does that taking inspire your confidence in your bank?

If bankers can seize depositors’ funds in Cyprus, can they do it here in the US?

•  The New York Times published “Big Depositors Seek a New Safety Net” which indicates that, like the wealthy Cyprus depositors, wealthy US bank depositors are also feeling targeted and unprotected by their banks and government.

Up until January 1st of this year, $1.5 trillion of US bank deposits (about 20% of total US bank deposits) was protected the Federal Deposit Insurance Corporation’s (FDIC) unlimited guarantee.  If you had $1 million or $100 million or even a billion in your bank account, the FDIC guaranteed that, even if your bank collapsed, you’d recover your cash.  Guaranteed.

However, as of January 1st of this year, the FDIC will only guarantee your savings account up to $250,000.  That means a man or a corporation with $1 million in his bank account has $750,000 in unprotected funds and a good reason to be nervous. If his bank fails, the depositor will lose everything over $250,000.

According to the NYTimes,

 

“The unlimited guarantee was created in the depths of the [2008] crisis by the Federal Deposit Insurance Corporation, in order to stop a migration of customers from smaller banks to larger ones that were viewed as less likely to fail.

“The F.D.I.C. guarantee was one of a number of factors that encouraged depositors to shift money into noninterest bearing accounts after the crisis.”

 

When government effectively demands that bank depositors take a loss (no interest) in return for government protection, government emulates a common street gang that takes money from a mom-and-pop grocery store in return for protecting their store’s windows.  This is criminal activity, and consistent with behavior we might expect if the government wanted to destroy the American people’s wealth and leave them impoverished and absolutely dependent on government.  In other words, is the object of noninterest accounts to save the depositors, save the banks, or diminish the depositors’ savings?

“The vast majority of the holdings in these accounts are above the $250,000 limit and are held in the nation’s largest banks. That money is expected to stay put no matter what, in part because corporations and municipalities widely believe that the government will step in if those large banks encounter trouble, effectively considering them too big to fail.”

In Cyprus, the wealthiest depositors also “widely believed” that the Cypriot government would “step in” if the largest Cypriot banks encountered trouble.  It was presumed that Cyprus would consider it’s biggest banks and super-wealthy depositors “too big to fail”.  After all, who would dare to rob the Russian mafia, Russian KGB, Russian oligarchs, etc.?

Well, as it turns out, it appears that the world’s central bankers fear no man or earthly organization.  The Russians, in all of their villainous personas, were robbed as easily as a bunch of Boy Scouts.

Is this evidence that the biggest and baddest gangsters running our earthly “hood” are the central banks?

If so, is your confidence in banking “inspired”?

 

•  InvestmentWatchBlog.com recently published, “U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS–IN WRITING–IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!”:

 

“According to in-house memos now circulating, the Department of Homeland Security (DHS) has issued orders to banks across America which announce to them that ‘under the Patriot Act,’ the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, and to make “periodic and unannounced” visits to any bank to open and inspect the contents of “selected safe deposit boxes.”

“Further, the DHS ‘shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence’ any of the following items ‘bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature.’”

 

The author of this article admits that she has some evidence but not enough to verify these contentions.  In truth, the previous description might be only a false rumor.

But, is there anything in the previous description that you’d say is beyond your federal government’s powers or inclinations?

I know that several other sources have reported the same story. That doesn’t prove that the story is true, but it does suggest that the story might be true.

Let’s suppose that the story is true.  If it is, nothing you deposit into a bank account or bank safety deposit box is safe from confiscation by the government.  Nothing.

Bank officials who received this information were allegedly warned to tell no one what they’d heard about possible seizures of bank accounts and safety deposit boxes.  If they talked, they could face prosecution under the Patriot Act.

More, the author reports that,

 

“A family member from Irvine, CA (who’s a branch manager at Bank of America) told us two weeks ago that her bank held a ‘workshop’ where the last two days were dedicated to discussing their bank’s new security measures.

“The workshop included members from the Homeland Security Office who instructed them on how to field calls from customers and what to tell them in the event of a national disaster. She said they were told how only agents from Homeland Security (during such a national disaster) would be in charge of opening safe deposit boxes and determining what items would be given to bank customers.

“They were told that no weapons, cash, gold, or silver will be allowed to leave the bank—only various paperwork will be given to its owners.  She and the other employees were then told not to discuss the subject with anyone.”

 

If bank officers and employees aren’t supposed to talk about it, the “national disaster” could be close at hand.  After all, there are no secrets in the internet world.  If you tell a “secret” to 20 people or even 10, you can expect that “secret” to be published to the world on the internet within days, hours or even minutes.

Therefore, IF this story is true, it implies that:

1) hundreds, and probably thousands, of bank officers and some bank employees around the country have heard the same message and been warned to keep quiet;

2) it’s virtually certain that some of them will, nevertheless, tell relatives and friends; and

3) the story will quickly appear on the internet and shed its cloak of secrecy.

Government must recognize the short shelf-life of secrets.  If so, government should not dare to sound this alarm to several thousand bank officers and employees unless government believes we are very close to having the “national disaster”.

I.e., why communicate this warning to bankers, and allow it to propagate on the internet in April if the “national disaster” isn’t expected to take place before October?

If the story reported here is true, the “national disaster” might be expected to take place very soon—but probably not before April 15th (income tax payment day).  First they’ll squeeze all the cash they can out of the taxpayers, and then have the “disaster” sometime after April 15th.

The article’s author suggests that you could verify some of this information yourself, if you would,

 

“Visit your bank, ask a few well-worded questions, being careful not to arouse suspicion—If that doesn’t work, talk to friends and other family members—maybe they’ve heard something—or as a last resort, just point-blank call the bank manager in private and demand to know what’s all this business with the Homeland Security deciding what I can have from my safe deposit box.”

Who can say?  Maybe your local banker will admit there’s a looming problem.  Maybe he’ll laugh in your face for believing an irrational internet rumor.

But,

1) We know that the rich depositors of Cyprus are being robbed.

2) We know that rich depositors in the US are similarly threatened with losing much of their wealth.

3) We know that Homeland Security has ordered 1.6 billion rounds of ammunition for “target practice” and several thousand new automatic weapons.

4) We know that 2,700 armored personnel carriers are being distributed by the feds to state and local governments.

5) We don’t know that the story about US banks being subjected to Homeland Security and threatened with confiscation of all bank accounts and safe deposit boxes is true.

 

Four of the last five “dots” are true.  The fifth “dot” may or may not be true.  If we connect all five “dots,” they create a fairly clear message:  It’s time to rethink whether you still want to trust your cash and tangible wealth to your local bank’s accounts and safe deposit boxes—or if you want to take personal responsibility for your own wealth.

 

 

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21 responses to “Inspiring Moments in Banking?

  1. Anon4fun

    April 2, 2013 at 12:36 PM

    “Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people.”

    – Theodore Roosevelt, 1912

    “This act establishes the most gigantic trust on earth. When the President signs this act the invisible government by the money power, proven to exist by the Money Trust Investigation, will be legalized.”

    – Congressman Charles A. Lindbergh Sr., regarding the Federal Reserve Act, 1913

    “The real menace of our Republic is the invisible government, which like a giant octopus sprawls its slimy legs over our cities, states and nation. To depart from mere generalizations, let me say that at the head of this octopus are the Rockefeller-Standard Oil interests and a small group of powerful banking houses generally referred to as the international bankers. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes.”

    – John F. Hylan, Mayor of New York City, 1922

    “The real rulers in Washington are invisible, and exercise power from behind the scenes.”

    – Felix Frankfurter, Supreme Court Justice, 1952

     
    • Don't Ask

      April 2, 2013 at 2:59 PM

      @Anon4fun (and anyone else):

      These are excellent quotes. Gonna add them to my “persuasion portfolio” and keep ’em handy to show around.

      It’s interesting. The words of these earlier-generation men remind me of one of the things I like about old books and used bookstores — a book from the 1800s or early 1900s predates whole decades of propaganda and coverup, and may reveal a thing or two that you can’t find in modern texts. For example, if one were trying to figure out the possible “evolution” of early law into the modern, corporatist charade-law we seem to have now, old law books on the subject of property, corporations, penal stuff , etc. could be ridden with clues. Glimpsing the state of things as they were in 1800 or 1900 could do wonders to inform our analysis of the course that “law” followed, and the nature of the situation we find ourselves in now. Suggest the original definitions and usage of terms, etc. A hunting ground for solid clues.

      Like: Today, many men and women wonder about the meaning, nature, source, and possibility of attaining or regaining allodial title to land. I’d like to find an old, old book on property law — from the 1700s or 1800s — and see what is said about that concept.

      If good people can find and buy up these types of books before they eventually become harder and harder to find, it might help us all figure some things out a little sooner. Especially if we individually scan them, or scan relevant sections or passages from them, and put them on the net in PDF form or similar (with title and copyright pages included, at a minimum, to source the passage).

      *

      On a new topic: one of the things I like about A. Adask is the following type of intellectually honest acknowledgment that appears in all his articles, and isn’t readily found in a lot of other places:

      > The author of this article admits that she has some evidence but not enough
      > to verify these contentions. In truth, the previous description might be only a false rumor. ….

      > I know that several other sources have reported the same story. That doesn’t
      > prove that the story is true, but it does suggest that the story might be true.

      Anyway, … Great article. This needs to be read widely.

       
    • Anthony Clifton

      April 2, 2013 at 5:25 PM

      a little more due diligence and you could provide their mug shots, names and addresses…

      not that you would want to inform your neighbors as to who the actual terrorists are…

      then you probably wouldn’t have fun, not being anonymous anymore.

      http://blogs.forward.com/forward-thinking/174150/jewish-county-and-the-texas-prosecutor-murders/

      There are new, internet copyright laws that make blog hosts liable for copyright violations posted as comments by blog readers on their blogs…..as comments…or indictments of the psychopths who claim “authority” because they print currency, own the media and operate a crackhouse called…

      http://www.ifamericansknew.org/cur_sit/missingheadlines.html

      DIG THIS CHUTZPAH !!! CONGRESS !!!

      http://careandwashingofthebrain.blogspot.com/2013/04/got-question-ask-jew.html

      All posts are opinions meant to foster comment, reporting, teaching & study under the “fair use doctrine” in Sec. 107 of U.S. Code Title 17. No substantial misstatement of fact is made or should be implied.

      nothing concealed will remain…Mr A is whomping with his walking stick

      it’s a veritable TSUNAMI

       
      • Jerry Sparks

        April 3, 2013 at 1:22 AM

        Good ol cousin Eustace.He is a veritable TSUNAMI too, Anthlony. Thanks for sharing this video. I’m now listening to the 2 hour & 27 minutes program. Peace & health to you Anthony.

         
    • doug

      April 3, 2013 at 7:22 AM

      Those in authority making these quotes regardless of how truthful, did little or nothing about it.

       
  2. Jerry Sparks

    April 2, 2013 at 12:54 PM

    Anon4fun
    April 2, 2013 at 12:36 PM

    Being invisible presents a problem, however,
    Scientists from the University of Texas at Dallas have designed an imaging chipthat measures invisible terahertz light waves that is small enough to fit on a smartphone and inexpensive enough that normal people could actually afford to buy one.

    Terahertz waves can be detected through opaque surfaces such as paper, walls and clothing — enabling a person with an accurate terahertz measuring device to see beyond what our visible eye can see.

     
    • Don't Ask

      April 2, 2013 at 3:18 PM

      @Jerry Sparks (and anyone else):

      [Expletive and exclamation point deleted by the poster himself.]

      If what you say is true — and it probably is — all privacy may be inescapably and well and truly eradicated for eternity. Makes me wonder if this new development — the fact that everyone can see, know, and report absolutely everything about everyone — is part of the PTB’s new world system. This seemingly inescapable transparency ruins our own lives in many traditional ways, but also may be the thing that prevents your typical petty tyrants (politicians, bureaucrats, et al.) from getting away with anything themselves here on out. Don’t know. Maybe. (To quote Nicholson from “A Few Good Men,” I’m just spitballing here.)

      In this case, I’m pretty sure a super-elite would still be able to exempt themselves, which would suggest a situation in which a VERY FEW rulers now would exercise absolute control over absolutely every individual on the globe. Sigh. (By super-elite, I suppose I refer to the invisible uppermost person or group that ultimately has its hands on the controls of the satellite/surveillance/enforcement/science/research apparatus.

      Anyway, I hope I’m just being irrationally pessimistic.

       
      • Jerry Sparks

        April 3, 2013 at 1:44 AM

        HI Don’t Ask !!!
        In the Los Angeles Times,April 19th,2012, news item by Deborah Netburn, is where I got this information.You may be able to bring up the news article by typing in > Superman style X-ray. But, as Paul Harvey would say, here is the rest of the story. Well, it’s not all of the rest but enough to help you relax, for a while.

        “As for the creepy applications (such as seeing through clothes), rest assured that Kenneth O, professor of electrical engineering at UT Dallas and director of the Texas Analog Center for Excellence, who led this research, has considered them.

        “The major concern for this technology is privacy, so we’ve made it that you need to place the imaging device very close to the object you are looking at,” he said. “We are talking about a distance of 10 centimeters, so it would be very difficult for someone to sneak up on you and…you know.”
        But, Don’t Ask, there are ways to build a “better” mouse trap & we are the mice. We were the frogs in hot water,now we are the mice. RATS !!!

         
      • Don't Ask

        April 5, 2013 at 2:47 PM

        @ Jerry Sparks:

        > “The major concern for this technology is privacy, so we’ve made it that you need to
        > place the imaging device very close to the object you are looking at,” he said. “We are
        > talking about a distance of 10 centimeters, so it would be very difficult for someone to
        > sneak up on you and…you know.”
        >
        > But, Don’t Ask, there are ways to build a “better” mouse trap & we are the mice.
        > We were the frogs in hot water,now we are the mice. RATS !!!

        Jerry, thanks for passing along the source of your article. … Yeah, the nature of the mainstream “mind” is such that its natural alarm system can be turned off by the simplest of stupid reassurances. “Not to worry — even though we technically have the ability to record and read every online communication, we’ve put legal safeguards in place to keep ourselves from using it.” Reply the sheepen: “Oh. Okay. — Hey! Guess who got voted off Idol!!!”

        And of course, since the world the sheep accepts is the one that WE will have to live in too, that screws us open-eyed people along with them. We really have to find a way to communicate with the sheep. I don’t see ANY other solution. Therefore, if we don’t believe we can find a way to do that, ….

         
  3. mvg-avg

    April 2, 2013 at 1:16 PM

    Sentinel ruling may hurt MF Global clients

    (Reuters) – A ruling in the case of failed futures brokerage Sentinel Management Group could make it more difficult for customers to recoup money lost in the much larger collapse of MF Global . . . .

    A federal appeals court upheld a ruling that puts Bank of New York Mellon ahead of former customers of Sentinel in the line of those seeking the return of money lost in Sentinel’s 2007 failure.

    The appeals court affirmed an earlier district court ruling that the bank had a “secured position” on a $312 million loan it gave to Sentinel, which turned out to have been secured by customer money.

    Futures brokers are normally required to keep customers’ funds in dedicated accounts to protect them from being used for anything other than client business.

    However, Thursday’s ruling suggests that brokerages can use customer funds to pay off other creditors . . . .

    “It does not bode well for the protection of customer funds.”

    Worse, is that the ruling suggests that a brokerage that allows customer money to be mixed with its own is not necessarily committing fraud.

     
    • Adask

      April 2, 2013 at 1:21 PM

      There are new, internet copyright laws that make blog hosts liable for copyright violations posted as comments posted by blog readers on their blogs. Therefore, rather than risk being hammered for a copyright violation, I have edited the text you submitted in order to reduce possible copyright charges.

       
      • Jerry Sparks

        April 2, 2013 at 3:30 PM

        Adask
        April 2, 2013 at 1:21 PM
        This is par for the course. Holding you accountable for something I,et.al. might say. How can you possibly monitor everything posted by everyone? The BEAT goes on. Their oppression never ends.

         
      • doug

        April 3, 2013 at 7:23 AM

        Listened with interest to your interview with Deanna Spingola.

         
      • Doug

        April 6, 2013 at 4:53 AM

        There are new, internet copyright laws that make blog hosts liable for copyright violations posted as comments posted by blog readers on their blogs. Therefore, rather than risk being hammered for a copyright violation, I have edited the text you submitted in order to reduce possible copyright charges.

        While this commentary turns my freedom loving stomach – I know what you’re trying to avoid – and don’t blame you one iota !

         
    • Jerry Sparks

      April 3, 2013 at 1:55 AM

      @ > A federal appeals court upheld a ruling that puts Bank of New York Mellon ahead of former customers.
      Now this is hard if not impossible to believe, right Mvg-avg? ( – :

       
  4. mvg-avg

    April 2, 2013 at 1:32 PM

    Thank you Al.

     
  5. Mike

    April 2, 2013 at 3:41 PM

    Interesting thoughts. Yes what happens in Cyprus won’t stay in Cyprus. After the 15th is a pretty good estimation although the end of the month has been bantered around a bit.

    As far as the second part where DHS can supposedly look and take from the deposit boxes: I read that yesterday as well but realized it was dated 2006. That doesn’t invalidate the theory, but for me it read as if it were going to happen shortly after the article was written. Makes me think it is a bit suspect..

     
  6. mvg-avg

    April 3, 2013 at 1:22 PM

    Jerry,MF GLOBAL and SENTINEL were test runs just as Cyprus is.These siezures are just getting started.When the bull market got started in silver and gold back in 2001 it started out unseen by the masses ,still unseen.Perhaps the recent financial institution thefts are similar as they are still largly un-noticed by the masses.As I have witnessed many a bull market they hardly end without billboard posting for all to see.This situation won’t be much different,what we have is a super cycle bull market in robbery and plunder in it’s early stages .

    Rule: Early stage bull markets are invisible to the masses.

     
  7. Doug

    April 6, 2013 at 5:11 AM

    Most folks think that the currency they temporarily possess is theirs … hahaha … nothing could be further from the truth as the Cypriots are learning ! It’s their money and mankind’s reliance upon it is THE ROOT OF ALL EVIL !

     
    • Adask

      April 6, 2013 at 6:48 AM

      Not exactly. According to the Bible, it’s the love of money that’s the root of all evil. Money, itself, is implicitly recognized as a necessary tool.

       
  8. Anthony Clifton

    April 7, 2013 at 7:12 AM

    currency may be deemed to be money, it is not really a “dollar” it is a [fraud] note…

    http://buelahman.wordpress.com/2013/04/06/the-drill-is-on-leading-to-the-dead-dollar/

    Note to self…Who Sanctifies the Gold ?

    http://secretsocietyindex.blogspot.com/2004/07/who-was-philander-knox.html

    or more specifically why did Adoram get stoned ?

    http://theboattrain.blogspot.com/2013/04/musical-interlude.html

    I like that – NOT EXACTLY – …qualifier…means “we” are creeping up on the Truth, which could help the straggling sheep….being devoured by currency printing wolves

    bible.cc/matthew/17-25.htm

    who determines Value…. or …reclaiming the sovereign right {s} as heirs to the promise….

    http://www.israelect.com/reference/WillieMartin/ISAAC-13.htm

    is dependent on KNOWING TRUTH !

    http://kingjbible.com/2_kings/17.htm

    to whom do the children of the King pay Tribute ?

    Knowing Truth delivers “us” from bondage…

     

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