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Government plans to survive hard times by keeping Americans away from their own money
Coach is Right ^ | 12/6/13 | Doug Book

Posted on 12/06/2013 9:03:22 AM PST by Oldpuppymax

The Financial Times reports that “the U.S. Federal Reserve is considering the possibility of arbitrarily cutting the amount of interest it pays on money that it borrows from private commercial banks.” Private banks, of course, make a great deal of money this way.

But should the Fed make this decision, banks which have historically paid their customers a small amount of interest for the use of their money may well begin “…charg[ing] private individuals and businesses for the privilege of “parking” their money in an account for a time.”

Could such a policy create a bank run? That’s what happened on Cyprus when its government decided to TAX all private bank deposits as a means of...

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


TOPICS: Business/Economy; Conspiracy; Government; Politics
KEYWORDS: banking; barackobama; fed; federalgovt

1 posted on 12/06/2013 9:03:23 AM PST by Oldpuppymax
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To: Oldpuppymax

And, if you take your money out of the bank and put it into a safe in your house, the Feds will knock on your door and confiscate it under asset forfeiture laws.


2 posted on 12/06/2013 9:08:58 AM PST by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: E. Pluribus Unum

Asset forfeiture laws? What the heck is that?


3 posted on 12/06/2013 9:11:28 AM PST by Sweet Hour of Prayer
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To: Sweet Hour of Prayer

If you don’t think it can happen, it’s already too late.


4 posted on 12/06/2013 9:13:36 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: E. Pluribus Unum

Why would they need to? They can just inflate the value straight out of it and your holding nothing better than toilet paper at that point.


5 posted on 12/06/2013 9:15:46 AM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: Oldpuppymax
Could such a policy create a bank run?

I don't know if it would create a run on cash money, but it certainly would create yet another run on guns and ammunition, as well as a further souring and angering of the American public. The shooting will start at some point, and it will be completely out of control. All government employees will only be safe in very large numbers, and even then, only the ones toward the center of the group, while snipers are picking away the perimeter.
6 posted on 12/06/2013 9:17:49 AM PST by ZX12R (Never forget the heroes of Benghazi, who were abandoned to their deaths by Obama)
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To: E. Pluribus Unum

“And, if you take your money out of the bank and put it into a safe in your house, the Feds will knock on your door and confiscate it under asset forfeiture laws.”

I do believe they are coming for it. First it will be 401ks. Then, they’ll proceed on to other accounts. Mine is still in the bank but I’m making plans to take it out and do “other” things with it. There won’t be anything for them to break in and ultimately. Bastards.....


7 posted on 12/06/2013 9:18:00 AM PST by FAA
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To: E. Pluribus Unum

Which is why you put it in tangible format. Like Precious Metals.

I’m particularly fond of Copper, Lead, and Brass for such purposes (evil grin)


8 posted on 12/06/2013 9:21:52 AM PST by Salgak (http://catalogoftehburningstoopid.blogspot.com 100% all-natural snark !)
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To: E. Pluribus Unum

They`d have to find it first.


9 posted on 12/06/2013 9:27:41 AM PST by nomad
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To: Salgak

make sure to diversify into different masses and diameter no doubt...


10 posted on 12/06/2013 9:34:11 AM PST by Resolute Conservative
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To: Sweet Hour of Prayer
Asset forfeiture laws? What the heck is that?

It's one of the ways they confiscate cars/boats/buildings for drug use and other illegal enterprises. It's already reportable if you take large sums of cash from your bank accounts because it makes you "a suspicious character". With the current rulers, illegal laws are the only ones likely to be enforced.

11 posted on 12/06/2013 9:38:22 AM PST by trebb (Where in the the hell has my country gone?)
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To: Salgak

Why yes, we should get some more of those precious metals.


12 posted on 12/06/2013 9:39:37 AM PST by rcofdayton (.)
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To: E. Pluribus Unum

I knew an old man who had lost a great deal of money in “The Great Depression.” After that he bought government bonds and sealed them in fruit jars which he buried in his orchard. When he died the relatives went on a massive buried treasure hunt. While government bonds might not be worth anything in a few years, gold and silver will still hold their value.


13 posted on 12/06/2013 9:55:17 AM PST by oldfart (Obama nation = abomination. Think about it!)
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To: Oldpuppymax

Seems a lot of financial news is coming out today, none of it good for the middle class. Could it be the end game is being rushed a little?


14 posted on 12/06/2013 9:58:48 AM PST by Foundahardheadedwoman (God don't have a statute of limitations)
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To: FAA

Best hasten your move. This is trial balloon real deal will follow shortly if there is not enough push back. Good luck.


15 posted on 12/06/2013 10:02:03 AM PST by Foundahardheadedwoman (God don't have a statute of limitations)
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To: Salgak

“I’m particularly fond of Copper, Lead, and Brass for such purposes (evil grin)”

Don’t forget about a goof dependable lead delivery system. :-)


16 posted on 12/06/2013 10:16:29 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Oldpuppymax

I assume this would be to get people to spend it or put it in stock market, ‘stimulate economy’.


17 posted on 12/06/2013 10:17:08 AM PST by sickoflibs (Obama : 'If you like your Doctor you can keep him, PERIOD! Don't believe the GOPs warnings')
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To: FAA

Maybe now would be a good time to make needed home improvements.


18 posted on 12/06/2013 10:21:04 AM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: Sweet Hour of Prayer
If you have a lot of money in your house or on your, you are probably a drug dealer and the government will take the money. No need for nasty things like evidence, due process, sworn testimony or guilt beyond a reasonable doubt. And since they have your cash you can't afford a lawyer to fight to get it back. Sometimes they might be nice enough to let you have some back if you sign over your rights to the rest of it.

In one case the sheriff was caught doing property appraisals to see which house was "most likely" to be involved in the drug business (i.e. most profitable to nab).

19 posted on 12/06/2013 10:40:43 AM PST by KarlInOhio (Everyone get online for Obamacare on 10/1. Overload the system and crash it hard!)
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To: Oldpuppymax

Commercial banks have already said they would have to respond by charging customers Service Fees for “taking care of” their money.

Which will result in gnashing of teeth and a revolutionary uproar.

I guess that would make for one helluva distraction from Obamacare though.


20 posted on 12/06/2013 10:48:32 AM PST by Buckeye McFrog
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To: Oldpuppymax

I really need to get a handle on my lottery addiction.

Four or five hundred bucks a week out of the ATM and I have yet to win squat.


21 posted on 12/06/2013 11:05:40 AM PST by SnuffaBolshevik
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To: Buckeye McFrog

Two hundred years ago American banks did charge to keep someone’s money. What goes around.....


22 posted on 12/06/2013 11:54:33 AM PST by OldMagazine (You can only do what you can do.)
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To: Oldpuppymax
Private banks, of course, make a great deal of money this way.

Only if you consider 0.25% to be a great deal of money.

23 posted on 12/06/2013 3:30:22 PM PST by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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