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  • Tatiana Covington

    If the bank or any other firm cannot fend for itself, then let it die.

    • GSOB

      You are good to go.

  • MIchael in Chicago

    One of the few perks of being a part of the working poor is not having much to take out of my bank account. Or my 401k for that matter. Of course that means I won’t be able to ever retire either.

    • kfilly

      I don’t think anyone will be able to retire in the future.

      • GSOB

        I was thinking that today concerning my young son and grand daughter. Parenthood is anguishing at times.
        You know what I mean?

      • alan

        I have come to terms with working until I die. So I will cash in my 401k. Might as well get some use out of it while there is money in it.

    • GSOB

      Michael in Chicago.
      I lift you up to the Lord.
      Oh Lord God,
      please let your presence be felt by Michael.
      Please give him the ability to praise you in the midst of the storm.
      Lord, I ask that you bless him with what he needs and I know you know what that is better than I do.
      We acknowledge your presence Lord.
      Thank You Lord.
      We love you.
      Amen.

      • Richard

        Er… right. Thank you for that, GSOB. Hmm…

        • GSOB

          Hope it encourages you to realize that God is invisible and knows everything.
          Acknowledged?

  • GSOB

    Great.
    Good article to start a bank run with.

  • kfilly

    Don’t worry sheeple. Your deposits are backed by the US government. Trust the government. Its got your back, and it only looks out for its flock.

  • Bill

    The Pope and the Queen both have eluded to no Christmas next year. Do you suppose that has something to do with a cashless world and no need for banks?

    • GSOB

      That’s an interesting question. More interesting than the answer.

      • Bill

        Even more interesting when if you consider my supreme ruler theory

        • GSOB

          Can you be pithy ….give it to me in little gold nuggets?
          uh 1 uh 2 uh 1.2.3..

          • Bill

            How about a nugget with the # 21! Let’s leave it at that for tonight and see if any other bloodhounds catch the scent.

          • GSOB

            oooookay

          • RTL89

            When did the Queen elude to no Christmas next year? I guess I missed that.

          • Bill

            I just posted the link but you will have to wait for approval.

  • Guest

    “The FDIC supposedly guarantees the safety of deposits in member banks, but at any given time it only has a very, very small amount of money on hand.”

    That’s true. The FDIC is a quasi-governmental agency. It doesn’t operate on taxpayer money. Instead, the agency is funded by assessments that it levies on banks and saving institutions with deposits “insured” by the FDIC. And, let me tell you, the FDIC is a gravy train for those fortunate enough to work there. Many FDIC employees make well over $200k per year. And their benefits are just ridiculous. How do I know? I used to work in Washington, DC as an auditor. I audited the Deposit Insurance Fund’s annual financial statements for 5 years. I had an office at one of the FDIC’s buildings at 801 17th St.

    • GSOB

      Hello.
      Wow is all I can say when I see the 200g

    • Liberty First

      I have heard the stories. Thanks for speaking out. It is amazing, isn’t it? I saw similar waste and corruption working as an attorney for a large state agency in Florida some years ago. If the public only really, really, knew what goes on.

    • Imaplaneiac

      Guest, what can you tell me about protection afforded me by my Federal Credit Union. A few weeks ago, I met with the manager of my local branch; regarding the safety and SECURITY of my account there. ( I did this as this present article in another in a series that Michael has written about governments in Europe STEALING from bank depositor ). The manager ASSURED me that I had NOTHING to worry about; that my savings account is safe and secured; insured by the FCUA – I think it is. If you DIFFER from what the manager told me, please supply a link or links to references that confirm YOUR comments.

      • Philosopher

        LOL. And you actually believed them? The FDIC would be broke if there were even a tiny failure of the banking system. Insufficient funds.

      • Jerry C

        He lies. Did he sign a contract with you personally guaranteeing your deposits? Don’t have all your eggs in one basket; diversify; and it goes same for banks. I wouldn’t have too much in any one bank; of course, I only have enough to pay my bills each month.

    • David

      I read the FDIC doesn’t have nearly enough $$$$$ to cover all of the Private account holders in all of the nation’s banks.

      • alan

        Last I heard a few years ago they were almost broke. But then I never heard anything about bank failures any more. I think all that got hushed up and not reported on any more.

        • Jerry C

          Yeah, then I heard the FDIC raised their limit on how much they insured to give depositors confidence. Lol. That’s like having your bankrupt uncle sign a guarantee for your debts.

  • Wizard of Aus

    I have been worried about Deutsche Bank this year. Australian banks have had to find extra capital this year.

    • Liberty First

      We almost had a chance to move down to your great country for a second time, but alas, it passed and we will be too old for another shot. That said, Australia definitely has some issues as well. The whole Western world has gotten itself into a jam. The difference with Australia is that the population is still rather homogeneous with some memory of traditional values. And lots of land. Such a great people, I hope it goes well for you Aussies.

      • Wizard of Aus

        Due to commodity prices tumbling, such as iron ore, the economy in Australia is now not as great as it used to be. The mining towns are closing, people are unemployed & this is of course is having a multiplier effect. The good days are over.

        • Liberty First

          Our opportunity was in Adelaide and we would have been restricted to that area, which I hear is especially challenging from an economic perspective. Would have gone anyway, but I do agree that Australia may be facing some tough times. Still, I suspect (and hope) that the people there will be able to deal with adversity more constructively than people in many other nations, if the going gets crazy.

  • Guest

    Move your savings to a credit union.

    • Bill

      Better in the sense that directors of credit unions are usually from the local community but same ole same ole as their charter comes from the top of the food chain.

    • Jerry C

      Yet, credit unions still use the main credit rating system that all the top banks use. No different except they’re smaller.

      • GSOB

        Banks are like metal garbage cans.
        Credit unions are like paper sacks.
        When it rains it pours.

  • HM

    Don’t forget the Greek bank depositor experience. Even if they don’t “confiscate” your money, they may allow you to withdraw a limited daily amount. I think in Greece it was 50 or 60 Euro per day – just enough to survive. And there was no guarantee the ATM’s wouldn’t run dry.

    • AvidReader

      Exactly. Unfortunately, many Greeks were slow to realize they were kept on a string by the EU/ECB/IMF dictatorship. The people should have run on the banks years before.

      • Horiboyable .

        The Greeks have been sewn up like a kipper. If you look at history people will not do anything until they feel the pain. Signs of this are happening because the process is far more advanced here in Europe. Last week a 17 year old boy gave the Prime Minister od Spain a haymaker on Television. Attacks like this and general civil unrest will be more common in 2016. When people start to lose their savings and pensions that is when things will heat up. As Gerald Celente says, when folks are losing and they have nothing else to lose, they lose it.

        • Rick

          This is exactly why we keep our guns in the USA. As the current TV commercial states, haymaker shmamaker. Putting the “shm” in front of guns doesn’t work so well. You try pronouncing it. It just doesn’t work. GUNs will always be guns. And they will always stop the bad guys period!

          • SunnyFlaSnotress

            LOL.. Guns will ALWAYS stop the bad guys.. If only life were really that idyllic

          • MikeS

            That’s why dear leader Obama and his controllers are inching away at eventually abolishing guns through a decree or whatever it take. Eliminate the guns and you reduce the risk of an uprising once everyone realises they’ve been taken for a ride…

          • Dalton

            There is no chance of Obama and/or his communist masters at the UN disarming Americans no matter what laws he tries to pass or how many mass shootings the CIA coordinates…..Obama has been the best gun salesman this country has ever had….so the day all these crooks move in to confiscate money from bank accounts will be the day everyone wakes up to the crimes against Americans perpetuated by the USG for their banking masters and they all be hunted down …,they won’t even be safe in their underground bunkers.

          • Priszilla

            The masters want your money. To get it they even sell you guns, and especially ammo. You can never have enough money, or was it ammo? Whatever. You enjoy your ammo while they enjoy the palm lined beaches. Remember: the guards with their guns and ammo won’t enjoy the pool.

      • MikeS

        The problem here in Greece was that your average person believed the BS spewed by the politicians – ‘Don’t worry, we’re safe here”. People are in too much in the deep end to think rationally anymore, they’re desperate for any good news. Once the money tap is controlled centrally it’s pretty much game over. It becomes legalised extortion so everyone follows the path towards a federalised Europe which was the original goal 50 years ago…

    • Priszilla

      You can survive well on 50 Euros per day. Not counting rent I need a minimum of 10 Euro per day and person. That’s including presents and holidays.

      • Mike Smithy

        You are missing the point. As the depositor, it should be your money to do with as you please when you please. If you want to withdraw it all and set it on fire in your front yard, you should have that right.

        • SunnyFlaSnotress

          She isn’t missing the point at all.
          During normal times, governments tax. During wars, governments draft. During financial meltdowns, governments may confiscate.. but unlike the way everyone reacts, it is typically done judiciously.

          • Rick

            What does “judiciously” mean? You think the Cyprus depositors are just sitting back smiling and drinking tea, more than happy that their money was stolen because it was stolen “judiciously”? You are a very funny man/woman.

          • SunnyFlaSnotress

            Judiciously as in the money was taken from accounts w/over 100,000 Euro..
            No matter how many times this is said, it never sinks in w/some people. We have a similar setup w/FDIC insurance.
            Guess what, there’s no free lunch, and there’s no government that runs for free. Welcome to the real world.

          • Jerry C

            OIC. Judiciously as in government theft. Got it.

          • GSOB

            Judiciously = fleecing the flock.

          • Rick

            Ok, so the word “judiciously” has a new definition, meaning any amount over 100,000 euros??? That makes total sense. Just one think I’m not yet getting, are you a communist, fascist, or just a good old fashioned Nazi?

          • SunnyFlaSnotress

            I don’t feel the need to name-call or pigeonhole on the matter. It is the government’s proper responsibility to not leave its people destitute and to take proper actions accordingly.

          • Rick

            Ok, so you’re simply badly misinformed. Don’t you see that it’s the government and our wonderful politicians who are cutting the deals with corporate fascist lobbists that at the same time cut our throats? By the way, the government was never set up to take care of destitute people. That was always left to caring citizens and family members. But again, the bigger government gets, the more uncaring its people become. Saw in a post above you haven lots of money. Have at it, send it into the government to help us all out. If you do that, maybe the rest of its won’t need to suffer through a bail in. You can “judiciously” put your money where your mouth is.

          • SunnyFlaSnotress

            A smart person knows not to put all their eggs in one basket. While you may disagree with a government’s programs, that doesn’t mean that they are done w/bad intent. There are many social programs to help the destitute, not that I think that they are done all that well.
            “Saw in a post above you haven lots of money” (?)
            You guys should stop fussing w/my money.. I’m not going to enumerate for you.

          • Rorschach

            You really should stop talking Sunny you are making an embarrassment of yourself. I don’t even think your printed script and talking points cover a discussion.

          • SunnyFlaSnotress

            LOL.. wish though you may, I’m not going away.. :)

          • Rorschach

            You really are just as pathetic as you are delusional. If you don’t think you are going away then a simple comment delete spree should straighten you up.

          • SunnyFlaSnotress

            I know my intelligence makes you insecure, but to your dismay, you are not the moderator.

          • Rorschach

            Your lack of intelligence. I don’t have to be the moderator to see where your comment stream and where you are headed. Enjoy the fall of the cliff lemming.

          • SunnyFlaSnotress

            Baby I’m yours
            And I’ll be yours until the stars fall from the sky
            Yours until the rivers all run dry
            In other words, until I die
            Baby I’m yours
            And I’ll be yours until the sun no longer shines
            Yours until the poets run out of rhyme
            In other words, until the end of time
            I’m gonna stay right here by your side
            Do my best to keep you satisfied
            Nothing in this world can drive me away
            ‘Cause every day you’ll hear me say
            Baby I’m yours
            And I’ll be yours until two and two is three
            Yours until the mountain crumbles to the sea
            In other words, until eternity
            Baby I’m yours
            Till the stars fall from the sky
            Baby I’m yours
            Till the rivers all run dry
            Baby I’m yours
            Till the poets run out of rhyme
            Baby I’m yours

          • Rorschach

            That didn’t take long to get the script out. Once a lemming always a lemming right Sunny?

          • SunnyFlaSnotress

            It’s a beautiful song.. especially when not done sarcastically.

          • John

            goverment is the one who caused the problems today! stealing money is just a way to keep their crimes to keep going

          • Gay Veteran

            ROFLOL

          • Priszilla

            If you have more than 100, 000 euros and park them in a bank account you give the impression that you don’t need it. Especially as a Russian parking that money in Cyprus.
            Anyway it isn’t the government that’s taking the money. Yhe gov just doesn’t bail out banks that can’t handle money responsibly.

          • John

            goverment and bankers not people are the ones who caused all this not people. so you say its okay for them to cause the problem and steal ourm oney

          • Jerry C

            HAHAHAHAHAHAHAHAHAHA
            You’re a hoot! Governments do it “judiciously”! Whoa!! You owe me a new keyboard.

          • SunnyFlaSnotress

            I don’t owe you snot, but you are welcome to it.

          • thefoolishone

            I think both she and you are missing the point. You more so than her. I will also hazard a guess you don’t have much to lose in any event.

          • SunnyFlaSnotress

            No, you are missing the point more than anyone. If you think I am poor, you are wrong.

          • GSOB

            Blessed are the poor in spirit, for theirs is the kingdom of heaven.
            Matthew 5:3

          • SunnyFlaSnotress

            Let the poor have heaven, I’ll take money.

          • GSOB

            And until you are regenerated, you will always serve money.

          • SunnyFlaSnotress

            You work a standing job… just who serves mone..

          • Gay Veteran

            more from the parrot

        • Priszilla

          Yes. You do have the right. What if there is no money left? What do you do when there is no water in the riverbed but you gave the right to drink?
          Protest all day? Demand from god to let it rain? Drink everything there is left in one day?

          There are certain things you cannot influence right now. Unless you are 5 years old. Then you can jump up and down all day and demand whatever you want.

          If you are willing to get through hardships though you can change. Don’t put all your money into a bank or bets (derivatives), for example. Build a house that outlasts you and serves your family for decades. For example.
          Have a well drilled.
          Plant some trees.
          Plant a living hedge all around your property. Use fruit and berry shrubs for birds to eat. The flowers will benefit the bees.

        • Priszilla

          That’s what happened in socialist eastern Europe. People said: the factories are owned by the people. I am part of the people so I own part of the factory. So I can take part of it home to repair my house. Material, tools, labour whatever. These factories bled out as they were looted every day. Result: guess.

          That happens when some people think they have more rights than others. Or they are entitled to something. Shareholders entitled to dividends without work?

      • SunnyFlaSnotress

        The board is living 3rd world fantasies of Zimbabwe or South America.
        They just feel the need to bark at the moon.

        • *Alwaystomorrow*

          I hate cold weather, getting the flu and lots of other things. I have learned adapting to things I have no control over makes life much mor enjoyable for me and the people I love.

        • Rorschach

          Sorry to break it to you but the only fantasy you are living in is the same fantasy that your other shill/cellmate “recovery” shares. Let me guess everybody is making 6 figures and America is not turning into a 3rd world banana republic? Oh and you might want to think long and hard how you are going to answer because nobody takes you seriously.

          • SunnyFlaSnotress

            Just by your responses, I can tell that I upset you. You are going to need to make very voluminous responses to everything I say to try to make yourself feel better.. but it still won’t work.

          • Rorschach

            No you don’t upset me. You are just a sad and pathetic individual who provides nothing towards this website. So remind the commentators why you are even here again? I thought according to you that Michael is wrong on his predictions.

          • SunnyFlaSnotress

            If I don’t upset you, why do you feel a fierce need to try to send me away?

          • Rorschach

            Because shills such as yourself bring it upon themselves. Hey it’s nothing personal you just do a poor job as a paid shill.

      • HM

        Priszilla, some people do have rent to pay (or mortgages), some people do not live alone, but have children to feed. It’s nice you can live so cheaply, you may need to keep doing so in the future. Just please don’t fall on your knees in thanks to a system which permits you to spend a little of your own money. I detest slaves who eagerly shackle themselves and worship the master.

        • Rick

          Now that is well stated.

        • GSOB

          John 11:10
          &
          Proverbs 4:19

          • Gay Veteran

            good parrot

        • Priszilla

          Those 10/day do not include rent. And they are per person. And not for a single household. Heating for two is the same ad heating for one. Same for lighting, tv license, Internet, cooking.

          We don’t have a car. No dog, no cat. We’d like to foster kids though.

          We put two nieces through university.

          For that it’s worth not having a car and not eating pizza every week.

          • HM

            Priszilla, I get the feeling you’re examining the leaves and missing the forest. Let me tell you about the forest I see.

            It’s a jungle of serfdom, Orwellian surveillance, brainwashed group-think, casual brutality, moral bankruptcy, and total oppression. Material want is not even the worst of it. The worst part is “they gave us their minds”. They gave us their shallow, grasping material values and turned every higher spiritual, moral, and intellectual aspiration of man into an object of mocking ridicule. We can’t break free until we find ourselves again and quit playing their game by their rules.

          • Priszilla

            If you remove the leaves the forest will die.

          • HM

            Good idea; sometimes a little hard to execute. If they’re ripping out my fingernails, it’s hard to pretend they aren’t there.
            But admittedly, that’s an extreme example. As a daily policy, I totally agree, be a prepper, maintain the smallest footprint possible inside the banking system, learn self-sufficiently, make like minded contacts but maintain a low profile, (don’t rush off to the “Alamo in Oregon” with gun in hand) and utterly reject their Luciferian value system.

      • Horiboyable .

        If you are willing to live in poverty, you are free to do so but if you think I am going to sit back while these bankers steal from me and my children’s future they had better think again. The establishment had better brush up on the French history to see when you push the people too far.

        • Priszilla

          That includes overseas holidays and dentistry. But we don’t have a car so we save on car, garage, fuel, insurance, tickets, parking, tax.

      • Mondobeyondo

        Current exchange rate: 1 Euro = 1.09 USD
        So… approximately $10.00 a day.
        Yeah, I could manage that. That’s a couple Whataburgers and a Coke a day. Yes, seriously!

        • Priszilla

          That includes electricity and gas, water, phones, and getting to work! But no coke or burger. Porridge, Sprouts and leeks are cheaper.

    • Chris Sky

      oh don’t you worry.. they froze their accounts just waiting for Jan 1st… now they will be confiscating it under the guise of “bank recapitalization” 😉

      mark my words.

      • GSOB

        1 Thessalonians 5:3, 4

        • Gay Veteran

          parrot

    • Mondobeyondo

      Coming soon to the USA. Get ready…
      The days of going to the ATM and withdrawing $200 at a time may soon be coming to an end.

    • CASTIEL

      Buy gold and save it in a safe…..and if a smart guy remenber to crack your safe…just bobytrap it with some grenades….and voilá…..more security than that you dont have :) or open a bank account in siwtzerland…they dont care where the money comes from….no control nothing…and these banks are solid

      • SunnyFlaSnotress

        Grenades.. lol
        Yeah and be sure to put it in an underground bunker with 2 feet concrete walls and have several guards with machine guns too.
        Also, don’t forget that minefield out front.. within your moated area of course.

        • CASTIEL

          and maybe a tank..in front of my house with Chuck Norris as a driver…

          • Rorschach

            You should see some of these “zombie apocalypse” fortresses that the rich are already building and constructed. There isn’t a “zombie apocalypse” unless you count dumbed down and enslaved “sheeples” but the “zombie apocalypse” is for economic collapse and widespread military conflicts worldwide including World War 3 and nuclear war.

          • CASTIEL

            In case of ww3…..the ones who own a farm and if they are lucky to dont suffer a direct hit…are the people with more probability of survive…they know how to hunt ….how to conserve food by the old ways…..how to cultivate the land and live by the land….These things i learned from my father….he had a farm….and i steel keep it…

          • Rorschach

            The problem would be fallout on the crops even from an indirect blast. Fallout in the form of dust particles would travel and land eventually on the crops so there would have to be a way to decontaminate the crops. The crops would have to be likely grown in a greenhouse and underground if possible. If you look at the 1986 nuclear accident and how they decontaminated buildings and areas it would be a very difficult operation. There are lots of factors that go into this and depends on how wide-scale the nuclear conflict is.

          • CASTIEL

            if you live like 300 km from a major city…..you could have some chances……if you have a fount of potable water that borns in your farm….and a greenhouse like you said…and some animals but you would have to store a lot of rations before an incident and a lot of ammo and guns to defend it.

    • CASTIEL

      It was 60 euros…..when syriza made a promess to his people….but the germans made a ultimatum to is government…..and they accepted…they are paying a debt and the austerity caused to pay that debt will increse the avalanche….The greed of the most powerful countries in UE are ruining the smaller ones….what they dont understand is the effect domino…..if one of them collapse entirely….and refuse to pay….that will be the end of UE….and then the sheeps will be deseperate……and today to have a job we need a bank account ( these dogs are kings of society nowadays ) and people accept that …..and then they just cry when they made investments in the market that were apresented by those banks…i know people who lost more than 60 000 euros……and you know what happens? banks are closed or selled to other banks and people lose their investments that those banks gave them 100% sure that they will increase their money…they were robbed…..and after that no one revolts….. and one day the entire system will collapse entirely…if a ww3 dont start first…

    • hilliam

      creditors & shareholders… WTFU and speak PLAIN language. those terms apply to stock players. its important to stress to the average joe, that bailouts= savings & checking account CONFISCATION by the banks where depositors have put their money. by reclassifying the accounts as THEIR property w/ financial legalese. but that is what it really means.
      OUR paychiecks directly seized

  • Huey Short

    Too bad the Europeans and Americans lost the war on fascism

    • GSOB

      Statist law seeks to create a world envisioned by its lawmakers, courts and increasingly, its bureaucrats.

      The law is seen as the creator of social order and justice.

      This requires policing power and the regulation of all people.

      Where government assumes responsibility for creating social order, individual liberty must be replaced by regulation, reporting and taxation.
      This shifts the individual’s responsibility and accountability from God to the state, and thus destroys liberty.

      Instead of being a terror to evildoers, the state wars against the innocent.

      For the believer in Christ, liberty is both a religious necessity and an ethical issue.

  • GSOB

    I struggle with the wounds from spiritual warfare.

    • Jerry C

      “wear out the saints” End Times. You. Are. Here.

  • GSOB

    Manipulations may forestall a collapse but a collapse is inevitable here in the US.

    • Dow 30K

      Hahahaha you made a funny. No collapse in US anytime soon. Markets going to the moon. Dow will hit new highs in 2016!

      • GSOB

        You don’t understand the entitlement program obligation. It will consume the Federal budget like locusts in the field. However, the tax payer will shoulder it with mutual despair.
        And the Stockholm syndrome settles in there will be no middle class.
        Enjoy the ride while you can.
        Invest in land and shelter and hunker down.
        Pray the Lord deliver you from evil.

      • David

        some Markets are doing great but the bulk of them are losing their luster faster than a prospector realizing his gold is in fact only pyrite, lol. profitable stocks are diminishing as the number of Hungry investors Grows.

        • Dow 30

          Dow is doing just fine. We are ready to rock n’ roll in 2016. Let the good times roll.

          • alan

            1929.

      • alan

        Happened in Zimbabwe so it can happen here too. Market up 12,000% in one year. But what does that really mean???

    • Market manipulation is definitely disgusting.

  • GSOB

    Things are much different today in the US then it was 86 years ago, 1929.

    Hard to believe how overburdened the nanny state has become. Our economy will be consumed by the obligations and now that we have the affordable care act, no one will be able to afford anything.

    • Bill

      The greed is the same but the “tools” to manage (manipulate) are now extremely sophisticated.

  • Philosopher

    Excellent article! I agree. Cyprus was a test run. If people think that they will be allowed to access their money during a financial crisis they are insane. Not only will there be bank bail-ins but this government will probably confiscate 401Ks and other investments. In order to provide for the common good, of course.

    If you can’t touch it you don’t own it. Possession is everything. People will learn that lesson. Most the hard way.

    • Horiboyable .

      Gerald Celente says you have to have the 3Gs
      Gold
      Guns
      Getaway Plan
      Can’t agree with you more, if its not in your possession, you don’t own it.

  • Tine Jordbræk

    In Norway the goverment gives a garanti up to 250thousand euro. So countries not belong to EU have different rules

    • Philosopher

      How did that work out for the folks in Cyprus? Or Greece, since Greece is part of the EU. I can tell you. Greece was told to suck it up and was thrown under the bus.

      • Tine Jordbræk

        They never took any deposit from the Greek.
        In Cyprus they did deposit over 1000t euro. It was two different situations,In Cyprus it was only the deposit and not the shareholders that had to pay. It was EU pressing Cyprus for a new loan deal. The parliment at Cyprus said no but had to resign for the new loan pacage. AS far as I can see thing are improving in Cyprus now. I had several investment in Cyprus

      • Horiboyable .

        Yea they were over ruled by the Troika and they stole a Greek Bank too. The way the EU is behaving there will be blood on the streets of Europe.

  • Robert

    From other articles we learn that a huge majority of Americans do not even have a $1000 in savings and that many live paycheck to paycheck. So, the banks would be grabbing money from a minority of savers. How nice. Just keeps getting better.

    • alan

      We confiscated $2.37 from your account, DOH!

  • pread

    Dow 30K / Recovery is making 6 figures trolling around this blog. He’s keeping the economy alive and kicking for us. No collapse anytime soon!

  • Mike Smithy

    The Wall Street Reform and Consumer Protection Act of 2010 is better known as “The Dodd-Frank Act” to the American public. What the American public does not know about, is that it codifies a “bail-in” provision that ensures that the United States can conduct the type of bail-in that we saw in Cyprus.

    • Philosopher

      Yes. The bank is not your friend and not their to help or protect you. At all.

    • GSOB

      Excellent advice you have provided, about keeping just the funds you need in the bank and take the rest out.

    • dfn

      Only one problem: if the government makes it legal to confiscate gold and silver.

  • halmic

    Michael, correct me if I am wrong but it seems to me that this is part of the plan.

    Now with these laws a d regulations being passed it is setting the stage for a currency/economic failure. When the banks and governments prove that our “systems” are too divergent and isolated the path will be open for a single worldwide currency. The stage is being set for the main banks behind the Fed Reserve, the EU, IMF, and World Bank to display their insolvency due to almost 100years of currency devaluation (inflation). Citizens of the world will cry out for something better and the bankers will be there ready to promote a single currency which will of course also make them rich by eliminating most or all of the bad debt ($450-500T?).

    The bankers win again!!!

    “Debts are being called in.”
    What will we do when that is the worldwide headline?

    Grace and safety be with you all.

    • Philosopher

      Except it will not work in Russia and China since China has set up a parallel financial system. The idea of a one-world anything cannot fail fast enough IMHO.

      • halmic

        At first I agree but I have seen how china and Russia are in debt to the banks also.

        My intent isn’t to create some debate about being right since all of the funny business is too in depth for my researching. I wouldn’t be able to give sufficient resources to defend the indebtedness of those two countries here and I wouldn’t have the time to collect them into a cogent post (I have a day job :-).

        Something to take note of is the “chemical factory” explosion that occurred when China tried to play with its currency a few months ago. Some are claiming that it was an undetectable attack along the lines of the “rod from god” weapon.

        I just don’t believe these things are not orchestrated. The people behind the curtain pulling the levers have planned these things out a while ago.

        I don’t think that many will be proponents of a one-world anything either but different times call for different measures and I think that is what they are counting on. Communism made great promises about a utopian world but it was too late to fight the elite once they were in power.

        Stay safe

        • Lennie Pike

          Once they confiscated the people’s firearms – see Alexander Solzhenitsyn.

          • Rick

            You are exactly right, see my reply above to Horiboyable. It will be a bloodbath here if they try.

      • alan

        It seems hard to get a group together to agree to anything. Unless they have troops stationed in their country.

    • SunnyFlaSnotress

      “If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks.”

      Most people on this board DON’T remember that. They harp on the fact that money was taken away. Yes, there is a similar stipulation in the USA.. it’s called FDIC insurance. If you keep more that the insured amount, you are at risk of losing it.

      • Rick

        Wrong again. See my post above. Even if you have less than $250,000 in the bank, which most people do, the FDIC can only pay back 1.17% of that. You do the math. They cannot create money out of thin air like the FED.

        • SunnyFlaSnotress

          I’m not wrong, you just run by the assumption that the Feds, who funded auto companies, banks, yada yada ad nauseum, wouldn’t fund the FDIC in it’s hour of need.

          • Rick

            That makes absolutely no sense. If the big banks and the Fed are trying to bilk the people of all of their wealth, why would they turn around and give it back to them through some phony insurance organization they created with the sole purpose of making people feel better about turning their money over to them, the FDIC is exactly that, a charade created to calm fears so that the ordinary folks will hand over (deposit) their hard earned funds thinking it’s safe. Once a thief has something by force or by deceit, he’s not giving it back if he doesn’t have to.

          • SunnyFlaSnotress

            You are working under the false premise that the Fed are trying to bilk people of all their wealth.

          • Rick

            How do you know it’s false? They’ve taken 97% of the dollars purchasing power since 1913 when they were illegally formed.

      • GSOB

        The risk is always there, give or take a few bucks, don’t really matter now does it?

        • SunnyFlaSnotress

          No, it doesn’t cause I’m not really worried about it.

          • GSOB

            Okay.

            What goes up artificially up
            comes down hard.

            You can twist perception
            Reality won’t budge.

          • SunnyFlaSnotress

            People aren’t going to suffer as much as you wish just because they don’t conform to your ideology.

    • Rick

      We will fall down on our knees and simply give thanks that the IMF and new world’s reserve currency nations, including China, are giving each of us our own special SDRs. Do you know what they are? Or how they are calculated? Here’s a hint, “you didn’t build that…”

  • goldminer

    Don’t post here much butt….
    In the last 2 months 4 big banks in Italy have failed. They have done bail ins. sucking up the retirement funds of Over 130,000 people. Who have invested savings, bonds, bills, in these banks. People who have trusted in the “System “Have lost everything. The banks took it all! People have done the suicide route over this…. The Italian government says all is good………. We have everything under control…
    Don’t even think it cant happen here in the “Good OL USA.” Bail ins are Coming soon to a bank near you.
    Bend over. Or get prepared!

    • AirborneSoldier

      The implementation of global Communism. Fits well with Agenda 21 and the centralization of populations, etc. As soon as a few more of our fellow citizens are in bondage to welfare, they will quite willingly support bail ins, outright property confiscation,relocation,etc. The rate at which all of this “Change” is occurring is historic. Im not sure a people group has given away their freedom as quickly as the modern american. The rest of the world is doing a pretty good job of it too.

      • John Byde

        Yawn.

      • Priszilla

        Centralization of population serves factories. Now who owns factories?

    • alan

      No, just buy some silver and move forward.

    • Horiboyable .

      This is why I love the internet. I live in Britain and had not heard this at all in the main stream media. I know that Italy is in bad shape with the amount of sovereign debt they have. Also I heard that another 2 banks in Portugal fell over before Christmas and one of them had been bailed out before. Then last year there was that bank in Austria that went bankrupt.
      Things are not looking good for 2016, when banks fall over it ends up like dominos.
      Thanks for sharing

      • goldminer

        Yes the dominos are falling, and picking up speed. Both of my parents lived thru the great depression. Some of the best advise they gave me was.” Never trust banks”.

        • Horiboyable .

          Funny the things you pick up as a kid. I have never put my religion on a census form because of what happened to the Jews and I made sure I have multiple passports in case the world gets a little wild.

    • jox

      What are the names of the banks? Here in Spain I haven’t heard anything.

      • goldminer

        The names of the banks are: Banca Etruria . Banca Marche, CariFerrari and CariChieti.
        Simply Do a search with words “Man kills self Italy bank failure”. for more info.

        • jox

          Thanks. I will look into it.

    • Rick

      One question, does Italy have a 2nd amendment? Didn’t think so. Governments, banks, fascists, communists, socialists, leftists, liberals, neocons, dictators, …. Can do anything they damn well please when the people aren’t armed.
      You think it’s terrible when the government stages false flags and kills a couple of people with guns in order to demonize guns and gun owners? Yes of course it is. But then I will ask you, is it better or worse once guns are taken, and they can go in without guns and kill hundreds of thousands or millions of people through confiscation of their weath, their livelihoods for retirement, with no possible way for the commoner to object, let alone fight back?

      • goldminer

        What do you think by concluding my post with, “get prepared” means?

        • Rick

          Being from the medical profession, when you say bend over and get prepped, I was kind of thinking something else. Good to know your a true blooded gun totin’ American. On our team! Thanks for raising awareness with your post. We all need to keep doing our small part.

      • Priszilla

        In communist countries they have the draft. So every male over 18 is trained in arms and discipline. You don’t need to have arms at home when the army has arms and takes good care of them. Truth is with the draft – one of your buddies or his son is probably a soldier right now and knows where these arms are stored.

  • AirborneSoldier

    This is why I hate all of the populist hate for the so-called Rich, as many of you here call anyone hetter off than yourself. Most reading this likely joticed the 100k threshold and thought, “Doesnt apply to me;take those rich people’s money, they dont deserve it.” Reminds of the WWII poem about “first the didnt come for me…”

  • Tine Jordbræk

    It is not the same as happened in Cyprus? The bondholders did not pay anything nor did the shareholders? They took the deposit over 1000 euro but were given shares in the bank

    • GSOB

      Bottom line, I hope you’ll agree, we should seek the defunding of the modern state.

  • How long can the money printing press last…

    • alan

      A long long time, just have to do more each time.

  • Get gold and bitcoin.

    • alan

      Gold/silver not bitcoin. No power, Internet no bitcoin.

      • I think there are bigger problems when there is no power anymore. The whole system will be down at that point, including the food supply. Gold and silver won’t be usefull either in that case, then you just needs preps like food and water supply.

  • alan

    By this time no one should have money in the banks. I would think credit unions should be more stable, unless major banking trouble will bring them down too. The bankers will have to inflict pain on the people to force them into agreeing to some sort of account looting or bail out. Just like the budge shut downs. The only thing they close is parks and things people need. I have never seen the military shutdown, or congress. Prepare to be scammed.

  • chilller

    “Oh…but I don’t have over $xxxx dollars in my bank account”.
    What do you think your 401k(rook) account is…safe? Think it’s not in a “bank”?
    Nothing wakes up a population faster than taking (stealing) its $$$.
    If you here and reading Michael’s writings and still have not acted…. then you, a fool, deserves to be parted from your money….

  • rmc9

    “…cast but a glance at riches, and they sprout wings and fly away like an eagle…” Bible

  • Priszilla

    Don’t put all your eggs into the same basket.

    • Mike Smithy

      In this case, it’s wise not to put any eggs in a basket owned by a western bank.

      • GoldenGirl

        Absolutely right.

      • Priszilla

        You can use a bank for money transfer. But have to acknowledge that it is risky to give money to strangers.

        Use your savings to invest in your family. House, clothing, education, health.
        Family for me extends to siblings and cousins and their kids.

        • toadsticker

          Why education?

          • Priszilla

            It might be useful to know how to cook an egg.

  • Priszilla

    You can’t use cash for shelter, fuel, clothing or food. So use your cash to get all this. Rather a small house fully paid than a big one owned by the bank demanding continuous interest payments.

  • jox

    There is a movement for a full-reserve banking: International Movement for Monetary Reform. In UK they are Positive Money. In the US there was an interesting proposal in the 30’s: Chicago Plan, written by some of the best american economists, but it was not backed by the politicians (as you know they work for the banks).

    Anyway, this is no news here in Europe. Everybody knows that deposits are only guaranteed up to 100.000 euros, and people don’t care. If in the bail-in they start losing pension plan money, that will be a completely different story.

  • Rick

    Michael, I’m not saying you are totally wrong on your comment about banks being obligated to pay depositors back in the event of a bank failure, however, I think you aren’t presenting all of the facts. Remember the G20 nations including the US passed legislation reclassifying deposits as part of capital structure. As such, they become operating capital of the bank. The depositor has an IOUS, but nothing legal at this point. Like a common shareholder of stock. The company will pay back what it can when it can. And, the FDIC operates by leverage of course, so only has the capacity to pay back 1.17% of your money. So if you have $100,000 in a bank that fails, after many years of clearing bankruptcy courts, you will get approximately $1,200 in the mail, case closed, they owe you no more. Also take a look at the Cronibus bill signed into law about a year ago by obama.
    Russell Napier, writing in ZeroHedge, called it “the day money died.” In any case, it may have been the day deposits died as money. Unlike coins and paper bills, which cannot be written down or given a “haircut,” says Napier, deposits are now “just part of commercial banks’ capital structure.” That means they can be “bailed in” or confiscated to save the megabanks from derivative bets gone wrong.

    • GoldenGirl

      Spot on, Rick. As of a year ago, the FDIC had about $46 billion to cover about $4.5 trillion worth of deposits. Then there is the derivatives exposure of the big banks to the tune of how many hundreds of trillions? According to the bankruptcy reform act of 2005, the derivatives go first (in position to collect). There is absolutely no way the FDIC can cover this type of loss for the average investor. The banks will just take the collateral, every last dime. I wouldn’t look for anything in the mail, should this happen.

  • Barry Goldwater

    My big question is why people continue to put their money in the bank if they know the deck is being stacked against them ?
    The banksters have you in the crosshairs !

  • John Byde

    Wow, and just as I was thinking it was safe to come out of my cellar after all those terrorist attacks over the Christmas hols!

  • GSOB

    ‘Follow the money’ we are told if we want to know where the power trail comes from.

  • GSOB

    In Scripture, the purpose of civil government was to be a ‘terror’ or ‘wrath upon him that doeth evil’ (Rom. 13:3, 4)

    It was to address evil so as to allow (but not create) an environment conducive to godly life.

    This meant that the godly had a liberty from the ungodly dominion of the wicked.

    • SunnyFlaSnotress

      Replace godly with goodly and you have a reasonable deal.

      • GSOB

        By what standard? Or who’s?
        Once someone assumes that God is sovereign, they must deny that attribute to all His creatures, so no man or institution can have anything but limited, subordinate and delegated authority.
        Any reference to the law of God is regarded as tainting the jury and is grounds for mistrial; no higher standard than the state’s law is tolerated.

        • GSOB

          The majority of America’s leaders in the Federal Government, as well as the governed majority, are in thick darkness.

          That’s total darkness.

          Now we have Mr. Trump against Mr. Clinton and vice versa. Disgusting what this nation has become.

          • Sheilag67

            The light is within us. If we love God, and not allow the conditions of the world overwhelm us.

  • GSOB

    More government = less liberty.

  • Mondobeyondo

    The same thing (more or less) happened in Argentina several years ago. If the government finds itself in financial trouble, the personal bank accounts of citizens makes for a very appealing target. They first go after their retirement accounts, and if that isn’t enough (it never is), then their regular bank accounts, 401(k)’s, etc…

    Gen X’ers and Millenials talk about Social Security not being there for their retirements (and they’re right). BUT – there’s no guarantee anything else will be there either!

  • Econ1

    For those that may not be following IMF, FDIC, and U.S. Treasury, realize that as a bank depositor you are defined as an unsecured creditor. You have no agreement of collateral or otherwise. “Depositor Beware”.

  • GSOB

    Isaiah 10:1- 3
    Woe to those who enact evil statutes and to those who constantly record unjust decisions, so as to deprive the needy of justice and rob the poor of my people of their rights, so that widows may be their spoil and that they may plunder the orphans.
    Now what will you do in the day of punishment, and in the devastation which will come from afar?
    To whom will you flee for help?
    And where will you leave your wealth?…

  • DJohn1

    What it comes down to is legal theft by the bankers.

  • David Hapenney

    The noose tightens around the throat of freedom. People are now free to keep cash on hand, but what happens when societies go cashless? It doesn’t take a genius to know 2 and 2 equals 4, I mean 3 after the banks take their share.

  • Dow 30K

    Stop this economic collapse I’m getting rich. Markets heading to new highs very soon. Don’t get left behind!

    • Rorschach

      Stop you are just too much. You are making me laugh. Have you ever heard of what a market top is? What patterns and behavior that happened in 2008 is repeating?

      You deserve nothing more than a gigantic face-palm.

      • Dow 30K

        They said the market topped in 2011 too. So much for that. The Dow is going to 30k whether people want to admit it or not.

        • MaxRockatansky33

          No, it won’t hit 30k, unless you’re a paid insider shill.

        • Rorschach

          Jazz is that you? You should try and be more discrete and less obvious next time.

        • Rorschach

          2011 was different from 2008. 2011 resulted in the ECB bailout in case you have already forgotten.

  • FortuneSeek3rz

    Here is all you need to know to survive: treat people with kindness and respect, work hard, diversify your investments. If you do all of that, it won’t matter if you don’t have an IQ of 160 or the athletic ability of Michael Jordan. You will always be secure, whether it be financially or socially (or both).

    Let the alarmists and worry warts cry about what they don’t have while you appreciate what you DO have.

  • Ricardo

    I think you will find that website is taking the mickey. They call it satire.

  • Steeve Girard

    So, from what I understand, is, the Fed is giving the people what they wanted…. except, it’s poisoned. Because small guy who invested in the future failures will totally lose everything. That’s something I can live with. I just have to spread my assets around more than one bank, and the losses will be mitigated. Impractical, but mitigated. Or I can risk confiscation by going physical.
    .
    Bullcrap it all!
    .
    Skills are a more sure value than anything else! Learn to live and do things with the less involvement of Government or Feds. If you can do things, you are not stuck, and you are not poor.

    • rentslave

      My skill is good only in Nevada,but I can’t take the heat.I thought that it was going to be good here in NJ,but then a Federal judge took a payoff.

  • df NJ

    Proof the cartels and monopolies are ruining this country: “The Same Pill That Costs $1,000 in America Sells for $4 in India”

    The cartels and monopolies are just as bad as any other form of totalitarian government. Say we get rid of the collection of all federal taxes what do you think is going to happen? Do you think we will instantly live in a land of paradise. I will tell you what will happen. The cartels and monopolies will raise their pricing on all goods and services absorbing any slack in the system. What do you think the computers are being used for? The cartels and monopolies collude on pricing and wages.

    The problems of our country are not rocket science. The lobbyists force the politicians to pass laws creating cartels and monopolies in exchange for campaign financing. We have no free markets to wring out the inefficiencies of CEO’s pay. It doesn’t matter what you pay in taxes. What DOES matter is the purchasing power of your take home pay.

    • Philosopher

      Lobbyists should be illegal.

  • adssd

    No way out as I see it:

    -Bail ins
    -Negative interest rates
    -Aboloshing of cash
    -Confiscation of gold, silver and precious metals.

    What do you do then?

  • Donald Wilson

    Only time will tell. For me I have liquidated both my IRA and 401K prior to the collapse of 2008. The only thing I use the banks for is to pay my bills, thus I only have a checking account with minimal funds on deposit to cover said bills. The remaining funds I have used to stock up on necessities and purchase some gold and silver. As we found out after the 2008 crash banks are nothing more than thiefs in the night. Good luck to one and all….

  • Priszilla

    No. Saying “2+2=5 is wrong” does not mean “2+2=7 is correct”.

  • Tracy Davies

    well i carn’t see that as Germany has the tightest gun controls in the world.The Syrians have got guns!

  • Madamarcati

    These bail-in regulations are just one moving part in the New World Order Grand Plan. Be aware that under the combination of new laws brought in for national security reasons after 9/11 and the rolling out of a global OECD run world taxation initiated with the Obama 2010 Hire Act and its implementation of FATCA, that individual economic freedom now belongs exclusively, in a tiered class system, on the lower levels to international government apparachiks and on the upper level, their owners, the multinationals. The rest of us are merely cattle to be used, slowly consumed then ruthlessly culled.
    Happy Holocaust Remembrance Day !

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