Failed Banks & Frank Dodd

[Ana]

If a bank fails your $ is confiscated & you become an unsecured creditor. That's what happened in Cypress.

 

 

http://safeshare.tv/w/jkbxcFMkyu

 

 

[jobug38]

And?

[umbertino]

Cyprus.

[dog53]

ana I dont think they allow this kiddo. This is a plug for a service

[Butifldrm]

ana I dont think they allow this kiddo. This is a plug for a service

 

dog53, I use to think that this would not be possible here.  I'm gonna give u a few links, that may change your mind.  http://intellihub.com/2013/03/30/it-can-happen-here-the-bank-confiscation-scheme-for-us-and-uk-depositors/

This very long, but yet I found very informative.  http://www.youtube.com/watch?v=Jx2LtUJAxbk.  

 

I have never been an alarmist, but something in my spirit has brought me here.      The friends I have told about this won't even listen to it, just kind of like I told them about the Dinar.  Some think they cannot afford to prepare and some think these things could never happen.  Sometimes, I think God brought the Dinar into my life to open my mind to the true, realistic position of our economy.  I have learned so much and I am always hedging to prepare for the worst, and truthfully I have never been that person.

Edited September 4, 2013 by Butifldrm

[SgtFuryUSCZ]

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and again we ask -- could they do this to CREDIT UNIONS, too...?

Do we need to take our money out of the Credit Union?

[Rayzur]

I could be way out on a limb in understanding what is connected to what..... but isn't Basel 3 an attempt to eradicate the conditions that would lead to the need or justification to do this?

[Butifldrm]

***///

 

and again we ask -- could they do this to CREDIT UNIONS, too...?

Do we need to take our money out of the Credit Union?

 

Sgt, that's a very good question.  I have my money split between a bank and a credit union.  The bank I have my money in is a very small bank with very little exposure to the derivative market, and they are CDARS certified.  I think need to look at the exposure to the derivitive market for safety.  Realistically, we have to pay bills.  In the times we live in, we have to pay bills.  I certainly don't have time to run around the country paying everything in cash.  Please, if you have your money in any of the top 4 banks Wells Fargo, Bank of America, Chase, and Citi Bank, you might be over exposed.

[Butifldrm]

I could be way out on a limb in understanding what is connected to what..... but isn't Basel 3 an attempt to eradicate the conditions that would lead to the need or justification to do this?

Rayzur, I have thought and said the same things myself. Our Economic World is not what is being portrayed. IMHO, there is no way the US banks could aquire enough Gold, Silver, or Fiscal assetts to cover 17T in debt, and that's not talking about the derivitive markets, which may be in the Quadrillions. The possibility of the US becoming Basil III compliant is slim.

• April 9, 2013, 11:45 AM

FDIC’s Hoenig: Basel III Is Well-Intended Illusion

• Article
• Comments

REAL TIME ECONOMICS HOME PAGE »

http://blogs.wsj.com/economics/2013/04/09/fdics-hoenig-basel-iii-is-well-intended-illusion/

By Michael R. Crittenden

International regulators hoping to bolster the health of the world’s largest banks are fooling themselves by focusing on risk-weighted capital measures, Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig said Tuesday.

Speaking in Basel, Switzerland, the outspoken Mr. Hoenig said the Basel III capital regime international regulators have agreed on to require banks to have more sizable buffers against losses does not achieve its stated goal. Such approaches are an “illusion of precision and insufficient in defining adequate capital,” Mr. Hoenig said, relying too much on gauging past risks.

“All of the Basel capital accords, including the proposed Basel III, look backward and then attempt to assign risk weights into the future. It doesn’t work,” he said.

http://blogs.wsj.com/economics/2013/04/09/fdics-hoenig-basel-iii-is-well-intended-illusion/

I wonder why?

Edited September 4, 2013 by Butifldrm

[SgtFuryUSCZ]

Sgt, that's a very good question.

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Thanks for the post.  WATERMAN  said we ARE indeed just as vulnerable with Credit Unions.

 

Discretion being the better part of valour,

guess we'll leave just enough in to cover say 2 months of bills at a time and take the rest out.

[Charlie Echo]

Chinese Yuan is backed by Gold.