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 ...
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.
Asset forfeiture laws? What the heck is that?
If you don’t think it can happen, it’s already too late.
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.
“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.....
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)
They`d have to find it first.
make sure to diversify into different masses and diameter no doubt...
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.
Why yes, we should get some more of those precious metals.
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.
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?
Best hasten your move. This is trial balloon real deal will follow shortly if there is not enough push back. Good luck.
“I’m particularly fond of Copper, Lead, and Brass for such purposes (evil grin)”
Don’t forget about a goof dependable lead delivery system. :-)
I assume this would be to get people to spend it or put it in stock market, ‘stimulate economy’.
Maybe now would be a good time to make needed home improvements.
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).
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.
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