Posted on 08/21/2015 12:21:18 PM PDT by amessenger4god
Dow down over 430 points as of about 2:20 PM CST.
Central banks have no more options. Debt levels are completely unprecedented around the world. These debts will never be paid back by human effort.
Watchers have been saying that we might witness a big crash around this time for 5, 6, 7 years now. Are you listening? Are you awake?
Is your treasure in Heaven or on earth?
Pray.
MARANATHA!
Update: Yesterday's plunge of the DJI was the biggest point-drop in almost four years. Today's is even larger.
I hope so, but such a move to destroy the US economy would be right in line with Obama’s pattern.
Just had the “talk” again with my husband. Seriously wants to sell the house, so we we are liquid.
Drastic changes coming.
Ah! Gotcha.
I think you are 100% correct. They want to blame Obonzo’s mess on Republicans. However, it could be difficult if they were all being tried and sent to prison one at a time.
I don’t know what to think. I’m not going to panic, but this sure doesn’t look good going into Monday.
The First lady (my wife) and me got creamed today (on paper). It is not over yet.
On the brighter side of things, gold is going up, and you don't loose anything unless you sell.
To address another poster's concern (forgot which one), there are sooo many dollars out there, that if your bank goes under (which it probably won't), the local pawn shop has cash (among other businesses).
When this happened at the end of the Bush administration, the LSM blamed Bush (his administration), and a couple of Wall Street bankers.
Methinks you won't hear a peep out of the state controlled media blaming 0bama and his regime.
5.56mm
“......They want to blame Obonzo’s mess on Republicans”.
And the stupid republicans will not defend themselves.
But things might be so fouled up by then that it won’t matter.
Without reviewing my notes from back then, I remember the concensus here at fr was that is was the homosexual Barney Frank and the democrats who were solely responsible for the financial crisis of 2008!
In addition, I remember watching O'Reilly when he had Frank on the program and O'Reilly was practically screaming at the queer Frank when Frank tried to switch the blame to Bush and the GOP.
Frank, like hillary this week, looked like a deer caught in the headlights when faced with the indisputable facts that O'Reilly laid out correctly showing how he, Frank himself, and the Democrats were fully responsible. As that Frank interview was coming to a close, I specifically remember that Frank had no rebuttal of the facts O'Reilly presented.
It’s impossible to predict, in spite of the doomsayers. $18T in debt is unsustainable some know we are playing with pretend money, but the exact timing or effect is anyone’s guess.
That said, I sold out of the market 2 weeks ago except for some small amounts of commodities. My risk tolerance is very low after the last 2 market crashes. We have gone Galt and will likely not be adding to our nest egg - so I’m into preservation at this time vs growth or even matching inflation at the risk of losses.
Marvin, see my post #68.
Doesn’t matter what the facts are
the lefties always move forward aggressively.
Gentlemen, start your debt repudiation and government layoff engines!
The fedgov is unlikely to know unless your banker gives a heads up. I’ve heard several stories of bankers complaining about “lots” of paperwork requirements for $10k deposits. The banker then “suggests” the structured deposits to avoid the paperwork. Boom, client gets busted for structuring.
Sounds like an entrapment / kickback scheme between banker and fedgov. Don’t fall for it.
When I sold my house, I deposited my equity temporarily until I could buy new house. The paperwork was a one page sworn affidavit with 2 blanks to fill in: source of funds and signature.
I wrote “proceeds, sale of family home” and signed it. Banker said it was a formality, kept on file by the bank, not the government.
She said if later I’m investigated as a terrorist or dope dealer, ( she laughed about this) THEN fedgov could look into my bank records. IOW evidence of illegal activity should exist first, then a falsely sworn statement could be evidence of perjury.
Nobody should try to discourage you from filling out a routine form, and the government has no right to confiscate anyone’s money under these circumstances.
You did great selling at the highs. I can’t do that because I’d owe a huge amount in taxes this coming April. But, what do I know/who knows?
You're right on that! The liberals always try to skate out of trouble they themselves caused for themselves just like chinagate; Benghazi, this current hillary email crimes, etc.
Not anymore.
The Obama administration went after several banks for not filing Suspicious Activity Reports (SARs) on deposit and withdrawls.
Most people think that amount is $10,000. No, it is much lower, and can even be for any amount that the bank feels like filing a SAR!
Many banks have set up "automatic" filing reports on withdrawls. They won't tell you the amount of the threshold.
We live in very dangerous times.
From March 2015:
"The Justice Department is ordering bank employees to consider calling the cops on customers who withdraw $5,000 dollars or more, a chilling example of how the war on cash is intensifying. Banks are already required to file ‘suspicious activity reports’ on their customers, with threats of fines and even jail time for directors if financial institutions don’t meet quotas. But as investor and financial blogger Simon Black points out, last week, “A senior official from the Justice Department spoke to a group of bankers about the need for them to rat out their customers to the police.” Assistant attorney general Leslie Caldwell gave a speech in which he urged banks to “alert law enforcement authorities about the problem” so that police can “seize the funds” or at least “initiate an investigation."
http://www.infowars.com/feds-urge-banks-to-call-cops-on-customers-who-withdraw-5000-or-more/
You bank may even be filing SARs just to head off any investigation or criminal filing by the "Just Us" Department.
Under the Constitution, no it does not. But we are not living under those rights anymore.
Who are you? The Gestapo of who posts what?
Gee, amessenger4god posts articles on the Gospel, possible wars looming, the economy, and prophecy.
So?
Many of us Christians can see the signs of the times, and wish to be ready for Him when He arrives.
If I were you humblegunner, I would read this instead, and contemplate Christ's meaning.
Matthew 25 - The Parable of the Ten Virgins
You would be wise to do so.
“Guess we’ll see. Course, I’ve been hearing since 1970 that “We can’t take this kind of debt any more.”
This ain’t like 1970 any more.
That’s what they said in 80, and 90, and . . . And. . .
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.