Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Warning: Get Your Money Out: “All Legal Bank Deposit Protections Are Now Officially Gone”
SHTF Plan ^ | 8/13/12 | Mac Slavo

Posted on 08/13/2012 3:40:54 PM PDT by Kartographer

Former money manager Ann Barnhardt, who in November of 2011 made the decision to cease operations of her brokerage firm and return funds to her customers citing “systemic” problems within the entire financial industry, has issued a new warning about the stability of US banks and the safety of individual deposit accounts.

The warning, stemming from a recent federal appeals court ruling surrounding customer funds lost during the 2007 collapse of Chicago futures broker Sentinel, indicates that individuals who lose deposited funds because a financial institution improperly manages that money, even if those funds are supposed to be “segregated” from other operations of the firm, are essentially left with no recourse if the firm goes belly-up. According to the court, a misallocation of those customer funds, “is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers.”

(Excerpt) Read more at shtfplan.com ...


TOPICS: Business/Economy; Conspiracy; Government
KEYWORDS: annbarnhardt; bankcrisis; dollarcrisis; uscrisis
And yet despite the facts that these people in collusion with their former employees, friends, business partners and other assorted cronies who work in the Financial arms of the government have repeatedly be caught in any number questionable and illegal activities there will be those that support them. The Financial Fraud enablers I call them.
1 posted on 08/13/2012 3:40:59 PM PDT by Kartographer
[ Post Reply | Private Reply | View Replies]

To: E. Pluribus Unum; blam; houeto; STARWISE; Chunga85; Neidermeyer

PING!!!


2 posted on 08/13/2012 3:43:07 PM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

listen, this is an absolute misconstruction of the facts of the sort that makes people laughingstocks.


3 posted on 08/13/2012 3:46:40 PM PDT by the invisib1e hand (At what point does an escalated effort to remove this traitor commence, and what form does it take?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer
Photobucket
4 posted on 08/13/2012 3:47:58 PM PDT by Huskrrrr
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

Banking is extremely convenient, and I would not withdraw all funds. I do, however, keep a comfortable amount of cash. I also keep my bank accounts in a number of different banks, so that a failure of one would not be a catastrophe, whether the lost money was unavailable for months or forever. Financial assets, like other assets, should be spread out for security.


5 posted on 08/13/2012 3:49:37 PM PDT by Pollster1 (Freedom is never more than one generation away from extinction. - Ronald Reagan)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kartographer

I don’t believe this issue is about checking accounts.


6 posted on 08/13/2012 3:50:06 PM PDT by CodeToad (History says our end is near.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: E. Pluribus Unum; blam; houeto; STARWISE; Chunga85; Neidermeyer

You might also find this interesting:

Bankster Fraud Has Driven 100 Million Into Poverty, Killing Many

http://www.zerohedge.com/contributed/2012-08-12/bankster-fraud-has-driven-100-million-poverty-killing-many


7 posted on 08/13/2012 3:54:13 PM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kartographer

What, FDIC protection eliminated? Who has a short position on banks and wants a panic?


8 posted on 08/13/2012 3:55:16 PM PDT by NonValueAdded (Steyn: "One can argue about whose fault it is, but not ... whose responsibility it is: it's his")
[ Post Reply | Private Reply | To 1 | View Replies]

To: NonValueAdded

The five biggest mega banks have been ordered to come up with plans to no fail in a financial emergence, how much to you want to bet that part of their plan will be to ‘borrow’ their customer funds for a ‘short term’ to shore themselves up?


9 posted on 08/13/2012 3:58:49 PM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
[ Post Reply | Private Reply | To 8 | View Replies]

To: the invisib1e hand

SHTFPlan is another one of those websites that is in the vein of Alex Jonesism. I read it daily mostly for prepping information........politics and conspiracies not so much.


10 posted on 08/13/2012 4:04:25 PM PDT by MachIV
[ Post Reply | Private Reply | To 3 | View Replies]

To: NonValueAdded

FDIC will protect only 250K if, and only if, you are among the first in line. As you move down the line the “insurance funds” available will be reduced.

It was recently posted that the funding behind FDIC was getting extremely low and banks were being charged more to replenish the funds.

IMHO the start of this issue can be placed squarely on the shoes of LBJ when he discovered that the Social Security Trust Fund could be raided to buy votes. Once you crack one firewall it is much easier to crack the next, and the next.


11 posted on 08/13/2012 4:14:09 PM PDT by Nip (TANSTAAFL and BOHICA)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Kartographer
This might be a good place to ask a question I've had for a while.

If someone wanted to withdraw say 30K would it be best to keep the withdrawals under 10K..? and do you need to space these out monthly? I'm just thinking about government flags and as far as I'm concerned, it's non of their business. Thanks

12 posted on 08/13/2012 4:18:05 PM PDT by Track9 (Ego undermines moral courage.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Track9

Good question and one I’d like some info on as well.


13 posted on 08/13/2012 4:26:48 PM PDT by bonfire
[ Post Reply | Private Reply | To 12 | View Replies]

To: Track9

You’d better keep your cash withdraws under 10k. Not only is the federal government automatically notified...there is a limit to the amount of cash you can legally carry on your person.


14 posted on 08/13/2012 4:32:17 PM PDT by mamelukesabre
[ Post Reply | Private Reply | To 12 | View Replies]

To: Track9

I have that same question.


15 posted on 08/13/2012 4:32:42 PM PDT by beaversmom
[ Post Reply | Private Reply | To 12 | View Replies]

To: the invisib1e hand
listen, this is an absolute misconstruction of the facts of the sort that makes people laughingstocks.

Barnhardt's a loon. Too bad, I like a lot of what she says. But I think she's gone over the edge.

16 posted on 08/13/2012 4:46:17 PM PDT by BfloGuy (Without economic freedom, no other form of freedom can have material meaning.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Kartographer

Is it just me or has the page been wiped?

I am trying to send the link to someone, and as always I test it first. Its now coming up empty.

Is it me or am I just paranoid?


17 posted on 08/13/2012 4:47:45 PM PDT by ConradofMontferrat (According to mudslimze, my handle is a Hate Crime. Hope they don't like it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ConradofMontferrat

DOH, Its back now.

No, I’m not seeing things. It really was gone.

(I know, now everybody thinks I’m toony. Sigh)


18 posted on 08/13/2012 4:49:52 PM PDT by ConradofMontferrat (According to mudslimze, my handle is a Hate Crime. Hope they don't like it.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: BfloGuy
Barnhardt's a loon. Too bad, I like a lot of what she says. But I think she's gone over the edge.

Actually, Barnhardt's part makes sense. But she is NOT saying what the headline claims she is.

19 posted on 08/13/2012 4:53:30 PM PDT by the invisib1e hand (At what point does an escalated effort to remove this traitor commence, and what form does it take?)
[ Post Reply | Private Reply | To 16 | View Replies]

To: mamelukesabre

> there is a limit to the amount of cash you can legally carry
> on your person

I thought so too but then came across this:

How much cash can a person carry legally?

In: Law & Legal Issues

Answer:

It is legal to carry any amount of cash, but quite imprudent to do so. The money would be suspected illegal and seized and then you have to hire a lawyer to fight for its return. Banks are required to report all cash transactions of more than $10,000.

There is no limit to the amount of cash that may be carried on any flight, either domestic or international or any other means of crossing the border. The people who are saying that there is a limit on international flights or international travel of any means are not correct — for international travel arriving in or departing from the US, you may carry as much cash as you’d like; however, any amounts in excess of $10,000 must be declared to US Customs either upon departure or upon arrival.

http://wiki.answers.com/Q/How_much_cash_can_a_person_carry_legally


20 posted on 08/13/2012 4:57:16 PM PDT by Jyotishi (Seeking the truth, a fact at a time.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: NonValueAdded

There is no real FDIC protection. If there were a bank collapse just where would the FDIC get all the money to make it good. It can’t, it itself is insolvent at this moment.
The FDIC all along was just something to make us all feel our money was safe when in reality under a fractional reserve banking system it’s all a fraud.


21 posted on 08/13/2012 5:01:12 PM PDT by Captain Peter Blood
[ Post Reply | Private Reply | To 8 | View Replies]

To: Track9

A lot of banks will caution you about taking that much cash at once. Not for reporting reasons, but for personal safety reasons.

Taking more than ten grand out will not trigger a report. Depositing more than ten grand might. Depositing three sets of ten grand in a short period WILL get you reported.

If you plan to keep that much cash obviously you need it protected. Not just from theft, but from fire and other hazards. Your homeowners agent will laugh out loud if you file a claim for $30k cash lost in a fire.


22 posted on 08/13/2012 5:01:26 PM PDT by Vermont Lt (I am NOT from Vermont. I am from MA. And I don't support Romney. Please read before "assuming.")
[ Post Reply | Private Reply | To 12 | View Replies]

To: Jyotishi

Reporting is triggered on deposits, not withdrawals.

And the $10k limit was out years ago. The amount is now based on a suspicious pattern, or $10k.

You can carry what you want.

You cannot take more than $10k out of the country.


23 posted on 08/13/2012 5:04:15 PM PDT by Vermont Lt (I am NOT from Vermont. I am from MA. And I don't support Romney. Please read before "assuming.")
[ Post Reply | Private Reply | To 20 | View Replies]

To: mamelukesabre
You’d better keep your cash withdraws under 10k.

The bank actually told me this straight out. I didn't get an answer on frequency though. If I wait a month, does it reset? Maybe Clark Howard would know. Anyway, it's just a theoretical question for now.

24 posted on 08/13/2012 5:14:19 PM PDT by Track9 (Ego undermines moral courage.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Track9

It is a computer program that does the reporting. It is automatic. No bank teller has any control over it. I was told you could do numerous transactions in a day of 9000 each and never get reported.


25 posted on 08/13/2012 6:03:59 PM PDT by mamelukesabre
[ Post Reply | Private Reply | To 24 | View Replies]

To: Jyotishi

If they can confiscate it then it is the same thing as being illegal.

DON’T DO IT.


26 posted on 08/13/2012 6:07:06 PM PDT by mamelukesabre
[ Post Reply | Private Reply | To 20 | View Replies]

To: mamelukesabre

Thanks for the help.


27 posted on 08/13/2012 6:27:40 PM PDT by Track9 (Ego undermines moral courage.)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Track9

But of course, who knows if the bank tellers know what they are talking about?


28 posted on 08/13/2012 6:32:12 PM PDT by mamelukesabre
[ Post Reply | Private Reply | To 27 | View Replies]

To: Kartographer

29 posted on 08/13/2012 6:32:28 PM PDT by yefragetuwrabrumuy
[ Post Reply | Private Reply | To 1 | View Replies]

To: Track9

This is always the most accurate forum to find answers to financial questions. It’s the only one I use.


30 posted on 08/13/2012 6:47:06 PM PDT by cydcharisse (`)
[ Post Reply | Private Reply | To 27 | View Replies]

To: mamelukesabre

There is no limit in the U.S. on how much cash you can carry, except perhaps the weight of the cash you can carry.


31 posted on 08/13/2012 6:49:25 PM PDT by Fightin Whitey
[ Post Reply | Private Reply | To 14 | View Replies]

To: Fightin Whitey

How much does $1 million weigh? That would depend on the denomination of the bills you use. Since there are 490 notes in a pound, if you used $1 bills it would weigh 2,040.8 pounds, but if you used $100 bills it would weigh only 20.4 pounds.

http://www.factmonster.com/ipka/A0774850.html


32 posted on 08/13/2012 7:02:48 PM PDT by Jyotishi (Seeking the truth, a fact at a time.)
[ Post Reply | Private Reply | To 31 | View Replies]

To: mamelukesabre

> If they can confiscate it then it is the same thing as being illegal.

There are long discussions about this and related topics on survival preparedness websites.


33 posted on 08/13/2012 7:06:21 PM PDT by Jyotishi (Seeking the truth, a fact at a time.)
[ Post Reply | Private Reply | To 26 | View Replies]

To: mamelukesabre

You make a good point.

You or I might legally carry a half a million in our car trunk (if only!!-—lol).

But if we get pulled over and searched and the cash is “discovered,” we had better have a valid receipt from the Sands Casino or a Bakken Field oil lease check stub, something like that.

Otherwise we might be in for a long stupid and probably expensive fight to get our own money back.


34 posted on 08/13/2012 7:10:58 PM PDT by Fightin Whitey
[ Post Reply | Private Reply | To 26 | View Replies]

To: Jyotishi

Those $100s would be light as air, don’t you think?


35 posted on 08/13/2012 7:32:16 PM PDT by Fightin Whitey
[ Post Reply | Private Reply | To 32 | View Replies]

To: Fightin Whitey

Yes very light. Earning and saving a million — hard work, one would imagine.


36 posted on 08/13/2012 8:35:34 PM PDT by Jyotishi (Seeking the truth, a fact at a time.)
[ Post Reply | Private Reply | To 35 | View Replies]

To: Fightin Whitey
But if we get pulled over and searched and the cash is “discovered,” we had better have a valid receipt from the Sands Casino or a Bakken Field oil lease check stub, something like that.

A copy of your statement from the month of withdrawal will do, especially since the bands and bills will have time stamps overlapping. (Gee, how do I know that?)

37 posted on 08/13/2012 9:22:45 PM PDT by Roccus
[ Post Reply | Private Reply | To 34 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson