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Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.

 
Anonymous Coward
User ID: 16069571
United States
08/11/2012 08:57 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Glass-Steagall Act would have prevented this from ever happening

Thank you BILL CLINTON for repealing it <--- Dripping Sarcasm

pigchef
 Quoting: Anonymous Coward 11511435


Bill Clintoon = George Herbert Walker Bush's whore.

This was done on purpose to Enron the US, indeed, the World for BushCo.
 Quoting: Anonymous Coward 967845


Clinton was bankrolled into office by Pamela Harriman, late widow of Wall St. shadowmaster Averell Harriman who was in business with Prescott Bush at Brown Harriman trading.
Anonymous Coward
User ID: 21725122
Germany
08/11/2012 09:04 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
May God forever bless well beloved Ann Barnhardt.
Ann is an absolutely heavenly combination of love, wisdom, intelligence, integrity, courage and inner and outer beauty. Ann is one of the most lovable and notable women ever.
 Quoting: Anonymous Coward 21725122


After listening to her for a good year or so, I second that sentiment. She is a true force to be reckoned with.
 Quoting: Anonymous Coward 19449421


If i remember correctly, i have written many months ago on GLP (or somewhere else), that i am absolutely convinced, that Ann Barnhardt would be perfectly qualified, fit and suitable for being president of the USA. If i had to choose between Ann and between all the other completely unable politicians, who unfortunately "run the show" currently, i would instantly (and with a clear conscience) choose Ann.

Besides all the other positive things, that i have already mentioned about her, Ann has true Christian values and she has a perfectly intact moral compass and moral courage.

The texts and videos of Ann, that i have seen so far, have all a very high quality regarding content and style etc.;
Ann opposes the vicious radical Islam(ists), which is excellent and she really wants the very best for the USA and for the world and for the common people in her country and worldwide.

Ann has an absolutely angelic aura and charisma and i sense, that there is something very special about Ann in a very positive way. It is entirely possible, that God has a special plan, task and mission for Ann, because Ann has much more personal integrity, sense of justice, energy, courage and stamina etc., than most other people have. I am convinced, that Ann will continue to accomplish many very good and positive things.

I really feel and think, that Ann is a very lovable, precious, impressive and outstanding woman and if it would be possible, it would be heavenly for a true (gentle)man like me to be her very loving husband or friend (i do not know, if Ann is already married).

May God forever bless, inspire and protect well beloved Ann Barnhardt.

Ann has an absolutely angelic aura and charisma and i sense, that there is something very special about Ann in a very positive way. Hyperlink to an absolutely magnificent photo of Ann Barnhardt:
[link to www.theblaze.com]
Gunnz, lots of Gunnz

User ID: 21308582
Australia
08/11/2012 09:08 PM
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banks have been like that since ever.
Corp/o/Ration
A Single Entity (group with the same paragon) Restricting consumption of scarce commodities.
Anonymous Coward
User ID: 21725122
Germany
08/11/2012 09:17 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
What a glorious woman Ann Barnhardt is.

Here is an additional hyperlink to another absolutely unforgettable photo of this notable woman:

[link to rockymountainstreams.com]
Anonymous Coward
User ID: 1012969
United States
08/11/2012 09:18 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
"The easiest way to rob a bank is to own a bank"....


Anyone with the bulk of their money still in these corrupt banks deserve to loose it.
A.C. McMouse (OP)
User ID: 19449421
United States
08/11/2012 09:23 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
For the record, I may be an Anonymous Coward, but I have put alot of significant quality time into educational and even simply conversational activities here at GLP over the years, and feel great affection for, and pride in this community.

It is a privilege to be able to start a thread on a pressing matter, have an intelligent person see its value and permapin it, and then sit back for an 8 hour ride keeping up with the topic, answering questions, and seeing where it all goes.

That said...

I was just over at "you know who's" website. You know who. The man who's name may not be spoken here...

I watched a video entitled. U.S Banks Told To Prepare For Total Collapse!

It was perhaps his most grounded and powerful 10 minute video ever. NOTHING he put forth on that video has not been unearthed and verified to some degree by the diligent freedom loving and God-like research journalists here at GLP as some point. He tied it all together beautifully, and there was no horseshit in his presentation.

So, I just can't figure out FOR THE LIFE OF ME why there is such a biased permaban against this person and his website.

We can link to all sorts of half info and 80% disinfo purveyors and websites, but this guy sometimes hits 100% and advocates some balanced solutions as well.

So can any of the mods, or perhaps site owners here do me the small courtesy of giving me some sort of enlightenment as to the reasons behind this policy?

Thanks in advance.

A.C. McMouse
Anonymous Coward (OP)
User ID: 19449421
United States
08/11/2012 09:27 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
What a glorious woman Ann Barnhardt is.

Here is an additional hyperlink to another absolutely unforgettable photo of this notable woman:

[link to rockymountainstreams.com]
 Quoting: Anonymous Coward 21725122


Well there you have it.

Notice the absolute symmetry between her eyes. Both wide open and in direct horizontal alignment. Like a childs. No guile or guilt.

Genuine smile. Modestly pulled back hair.

But geez can she swear like a sailor. Ever hear her rant?

It is like the flaw that makes a diamond more beautiful in her case. LOL.
Anonymous Coward
User ID: 4483569
United States
08/11/2012 09:38 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
bookmarking this thread article to show to my sheeple mother who thinks "everything is fine".

nice find op.
chris999

User ID: 4483569
United States
08/11/2012 09:41 PM
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*
I dont mean everything I say to be literal. I just like to throw around ideas, and play devil's advocate.

I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use.

-Galileo Galilei
Anonymous Coward
User ID: 9977516
Australia
08/11/2012 09:44 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Stop using banks.

Problem solved.
 Quoting: Shingen


Try traveling with a large amount of cash and see what happens? Going to board an airplane with $2000 in cash, good luck!!
 Quoting: Anonymous Coward 1626828


Money runners could become the new drug runners/mules?
Who'd have thunk'ed it!

By the way the first thing that came to mind when reading the Opening post is KNIGHT being the name of computer algorythm software and THE DARK KNIGHT movies shooters father being a creator of supposedly anti fraud computer algorithm software?
Coincidence?
Anonymous Coward (OP)
User ID: 19449421
United States
08/11/2012 09:47 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
*
 Quoting: chris999


If you would take the time out of your lazy sheeple schedule to read all the analysis and commentary regarding the original post...

Ah nevermind, you are probably too stupid to change, forget I said anything and just shove that one star in that place that needs the light.

Yeah, I mean up your nose, cause obviously your brain is switched off.

But you would probably enjoy it more in the southern end wouldn't you?

Sorry, just a little amped up here on the eve of our not-so-Civil Class/race War, and I get a strong sense of which side you are going to be on. Good luck with that sunshine.
Anonymous Coward
User ID: 18372701
United States
08/11/2012 09:48 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Guys heard of credit unions? Community Banks? It's there, and its not our fault you're too stupid to use it.
Anonymous Coward (OP)
User ID: 19449421
United States
08/11/2012 09:49 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Stop using banks.

Problem solved.
 Quoting: Shingen


Try traveling with a large amount of cash and see what happens? Going to board an airplane with $2000 in cash, good luck!!
 Quoting: Anonymous Coward 1626828


Money runners could become the new drug runners/mules?
Who'd have thunk'ed it!

By the way the first thing that came to mind when reading the Opening post is KNIGHT being the name of computer algorythm software and THE DARK KNIGHT movies shooters father being a creator of supposedly anti fraud computer algorithm software?
Coincidence?
 Quoting: Anonymous Coward 9977516


Get a hold of the fiction novel The FEAR Index written by Robert Harris.

It is the perfect treatment of Automatic Algorithmic Trading for the slightly advanced lay person, with a stellar plot and character portrayals to boot.
Anonymous Coward (OP)
User ID: 19449421
United States
08/11/2012 09:55 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Guys heard of credit unions? Community Banks? It's there, and its not our fault you're too stupid to use it.
 Quoting: Anonymous Coward 18372701


I replied to another person who thought this was such a brilliant idea back on page 2.

It bears repeating.

=================

AC 846701 wrote: "Banks have been doing this for ages, where have you been? Anyone with any decent amount of money knows this and this is why so many of them are picky at what banks they choose."

My reply:

"Apparently where I have been, and am, is even further ahead of the curve then you.

This overt admission of collusion by the federal judiciary is a monster warning sign.

It says the following.

Anyone with a decent amount of money who keeps it in ANY bank, is at risk.

Because when the planned market collapse and currency devaluation/reshuffling occurs, this will force large and medium banks into a bank holiday to arrange for their Bankruptcy reorganization. The FDIC is toast, and their creditors (The FED, IMF, WorldBank, etc) will give their account holders the equivalent of 50 cents on the dollar if they are lucky.

The "picky" people will find their small local "safe" banks and credit unions will have to devalue their accounts for various reasons including the currency valuation reset, and their own investment losses. Not to mention that even they will be effected by bank runs, and will prove no more capable of producing their account holders "goods" than any other bank.

Sorry.

The savvy retain only enough cash in the bank to cover 2 months of bills max. The rest of their worth is divided into cash in a safe at home, precious metals/gems, land, vehicles, guns/ammo, stored food, clothes and tools."
Anonymous Coward
User ID: 9977516
Australia
08/11/2012 09:59 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Stop using banks.

Problem solved.
 Quoting: Shingen


Try traveling with a large amount of cash and see what happens? Going to board an airplane with $2000 in cash, good luck!!
 Quoting: Anonymous Coward 1626828


Money runners could become the new drug runners/mules?
Who'd have thunk'ed it!

By the way the first thing that came to mind when reading the Opening post is KNIGHT being the name of computer algorythm software and THE DARK KNIGHT movies shooters father being a creator of supposedly anti fraud computer algorithm software?
Coincidence?
 Quoting: Anonymous Coward 9977516


Get a hold of the fiction novel The FEAR Index written by Robert Harris.

It is the perfect treatment of Automatic Algorithmic Trading for the slightly advanced lay person, with a stellar plot and character portrayals to boot.
 Quoting: Anonymous Coward 19449421


Thanks. I'll check it out.
Anonymous Coward (OP)
User ID: 19449421
United States
08/11/2012 10:10 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Guys heard of credit unions? Community Banks? It's there, and its not our fault you're too stupid to use it.
 Quoting: Anonymous Coward 18372701


I replied to another person who thought this was such a brilliant idea back on page 2.

It bears repeating.

=================

AC 846701 wrote: "Banks have been doing this for ages, where have you been? Anyone with any decent amount of money knows this and this is why so many of them are picky at what banks they choose."

My reply:

"Apparently where I have been, and am, is even further ahead of the curve then you.

This overt admission of collusion by the federal judiciary is a monster warning sign.

It says the following.

Anyone with a decent amount of money who keeps it in ANY bank, is at risk.

Because when the planned market collapse and currency devaluation/reshuffling occurs, this will force large and medium banks into a bank holiday to arrange for their Bankruptcy reorganization. The FDIC is toast, and their creditors (The FED, IMF, WorldBank, etc) will give their account holders the equivalent of 50 cents on the dollar if they are lucky.

The "picky" people will find their small local "safe" banks and credit unions will have to devalue their accounts for various reasons including the currency valuation reset, and their own investment losses. Not to mention that even they will be effected by bank runs, and will prove no more capable of producing their account holders "goods" than any other bank.

Sorry.

The savvy retain only enough cash in the bank to cover 2 months of bills max. The rest of their worth is divided into cash in a safe at home, precious metals/gems, land, vehicles, guns/ammo, stored food, clothes and tools."
 Quoting: Anonymous Coward 19449421


U.S. regulators directed five of the country's biggest banks, including Bank of America and Goldman Sachs, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.


The two-year-old program, which has been largely secret until now, is in addition to the "living wills" the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.

Officials like Lehman Brothers former Chief Executive Dick Fuld have been criticized for having been too hesitant to take bold steps to solve their banks' problems during the financial crisis...

[link to www.cnbc.com]

---------------------

So, exactly how will the assets and liabilities of these major banks be restructured HMMMMMM????

And they will be soon..

As Therion so aptly put it on page 4

The crux of the matter is not specifically about investors or depositors segragated funds... the real dillema lays in the FUTURES MARKET itself ... when the futures trading houses and hedgies fail to protect customers segregated funds... those customers (producers & specs) will terminate hedging or speculating in these markets.... if the futures markets collapse, the dollar will collapse soon thereafter.... prices will immediately inflate into the stratospere.... the futures market shorts on commodities is REALLY the only mechanism that keeps the dollar in play... (namely keeping commods globally affordable), those shorts rely on the REPO market for liquidity & funding which relies on the futures market again for hedging the collateral.... you can kiss liquidity good buy if the futures participants decide that their capital is at risk & in jeopardy because the trading houses are either scamming them or are mismanaging customer funds.... you better believe that after Enron, Sentinal, MFGLOBAL, PFG & now KCG every farmer, rancher, raw & finishing producer of goods are taking note, as its their liquidity NOW AT EXTREME RISK....

So the perfect storm is upon us and a serious market/currency collapse is inevitable.

The FDIC is practically broke.

The fractional reserve system has all but guaranteed that these ALL banks have perhaps a few percentage points worth of their customer accounts in physical cash if that. The central FED bank in their region not much more.

But the pretend bookkeeping entry each Bank Of America or JP Wachovia account holder will lose some serious weight when the PRIVATE entity of choice (FED or IMF/worldbank) buys up their debt/liabilty at 60 cents on the dollar) just to keep you alive but permanently enslaved.

This massive transfer of wealth and the resultant currency devaluation will affect everyone including those who kept their imaginary cash in the form of bookkeeping entries with a "local bank".
mbrio

User ID: 8281597
United States
08/11/2012 10:44 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
You didn´t save that money!! Somebody else did!
oridin
 Quoting: Zombietard


You my friend are an idiot.
mbrio
Anonymous Coward
User ID: 11511435
United States
08/11/2012 10:56 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Glass-Steagall Act would have prevented this from ever happening

Thank you BILL CLINTON for repealing it <--- Dripping Sarcasm

pigchef
 Quoting: Anonymous Coward 11511435


Bill Clintoon = George Herbert Walker Bush's whore.

This was done on purpose to Enron the US, indeed, the World for BushCo.
 Quoting: Anonymous Coward 967845


How you pin what was Clintons doing to Bush is not possible. Your statement makes zero sense. How would YOU like it if someone blamed YOU for what your GRANDMOTHER did? You are applying the same logic there bud..

Clinton opened the door to the banks gambling with our money, not BushCo as you wrongfully state.

Idiot.
Anonymous Coward
User ID: 11511435
United States
08/11/2012 10:59 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Glass-Steagall Act would have prevented this from ever happening

Thank you BILL CLINTON for repealing it <--- Dripping Sarcasm

pigchef
 Quoting: Anonymous Coward 11511435


Bill Clintoon = George Herbert Walker Bush's whore.

This was done on purpose to Enron the US, indeed, the World for BushCo.
 Quoting: Anonymous Coward 967845


Clinton was bankrolled into office by Pamela Harriman, late widow of Wall St. shadowmaster Averell Harriman who was in business with Prescott Bush at Brown Harriman trading.
 Quoting: Anonymous Coward 16069571


That is an excuse dumbass. Clinton did NOT have to repeal Glass-Steagall.

Nobody had a gun to his head to sign it and you can NOT DEFLECT or REDIRECT AWAY from that no matter who you try to blame.

Clinton did it - he owns it. Get over it.
Anonymous Coward
User ID: 21725122
Germany
08/11/2012 11:03 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Dear OP, i have a very friendly and positive question for you:

Is there a (remote) possibility, that you are maybe Ann Barnhardt or one of her friends, supporters or team members etc.? :-)

Because i would absolutely love it, if one of the above mentioned possibilities would be true... :-) It would make me so happy, if well beloved and cherished Ann Barnhardt would post on GLP... :-)

Dear OP, if you maybe know angelic Ann personally, could you please be so kind and send/transmit/forward limitless and sincere love, friendship, blessing wishes and greetings from me, Matthias/Matthew from Germany to adorable Ann? :-)

Unfortunately i have never met angelic Ann personally so far, but if God is merciful, all divine things are possible... :-)

By the way, dear OP, many thanks for opening this absolutely brilliant thread and for having an absolutely marvelous conversation with me! :-)

Dear OP, if you are maybe indeed Ann, then please marry me, if you would like to do so... :-)

May God bless well beloved Ann Barnhardt and all of you! :-)
Anonymous Coward (OP)
User ID: 19449421
United States
08/11/2012 11:13 PM
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Dear OP, i have a very friendly and positive question for you:

Is there a (remote) possibility, that you are maybe Ann Barnhardt or one of her friends, supporters or team members etc.? :-)

Because i would absolutely love it, if one of the above mentioned possibilities would be true... :-) It would make me so happy, if well beloved and cherished Ann Barnhardt would post on GLP... :-)

Dear OP, if you maybe know angelic Ann personally, could you please be so kind and send/transmit/forward limitless and sincere love, friendship, blessing wishes and greetings from me, Matthias/Matthew from Germany to adorable Ann? :-)

Unfortunately i have never met angelic Ann personally so far, but if God is merciful, all divine things are possible... :-)

By the way, dear OP, many thanks for opening this absolutely brilliant thread and for having an absolutely marvelous conversation with me! :-)

Dear OP, if you are maybe indeed Ann, then please marry me, if you would like to do so... :-)

May God bless well beloved Ann Barnhardt and all of you! :-)
 Quoting: Anonymous Coward 21725122


Sorry Matty, no such relation between myself and Ann, nor am I a girrl. Though I don't mind being compared to her, as she has more vim, vigor, and courage than most men I know.

Anywho, I am sure she would be flattered to know you appreciate her character so deeply. I suspect she would consider herself the quintessential NUN or sister of the faith and married to Jeshua Christos in celibate service to His mission.

Just pray to the Supreme Lord to fix you up with a companion and He will do you right when He deems it appropriate.

That is the way it works.

If Queen Ann is meant for you, it will be an effortless meeting without any overendeavor on your part.

God speed.
Anonymous Coward
User ID: 21725122
Germany
08/11/2012 11:17 PM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Dear OP, i have a very friendly and positive question for you:

Is there a (remote) possibility, that you are maybe Ann Barnhardt or one of her friends, supporters or team members etc.? :-)

Because i would absolutely love it, if one of the above mentioned possibilities would be true... :-) It would make me so happy, if well beloved and cherished Ann Barnhardt would post on GLP... :-)

Dear OP, if you maybe know angelic Ann personally, could you please be so kind and send/transmit/forward limitless and sincere love, friendship, blessing wishes and greetings from me, Matthias/Matthew from Germany to adorable Ann? :-)

Unfortunately i have never met angelic Ann personally so far, but if God is merciful, all divine things are possible... :-)

By the way, dear OP, many thanks for opening this absolutely brilliant thread and for having an absolutely marvelous conversation with me! :-)

Dear OP, if you are maybe indeed Ann, then please marry me, if you would like to do so... :-)

May God bless well beloved Ann Barnhardt and all of you! :-)
 Quoting: Anonymous Coward 21725122


Sorry Matty, no such relation between myself and Ann, nor am I a girrl. Though I don't mind being compared to her, as she has more vim, vigor, and courage than most men I know.

Anywho, I am sure she would be flattered to know you appreciate her character so deeply. I suspect she would consider herself the quintessential NUN or sister of the faith and married to Jeshua Christos in celibate service to His mission.

Just pray to the Supreme Lord to fix you up with a companion and He will do you right when He deems it appropriate.

That is the way it works.

If Queen Ann is meant for you, it will be an effortless meeting without any overendeavor on your part.

God speed.
 Quoting: Anonymous Coward 19449421


Dear OP, thank you and Ann again for everything and i really hope to meet you and Ann during this current life and/or in God's eternal kingdom sometime... :-)
Anonymous Coward
User ID: 21123645
United States
08/12/2012 12:10 AM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
bad link
 Quoting: Anonymous Coward 8084990


Worked fine for me

and we're screwed.
 Quoting: Anonymous Coward 21597997


your only screwed if u allow it to happen, so the way i see it is this, grow some balls to remove these people.
AZGal
User ID: 1486221
United States
08/12/2012 12:22 AM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Nothing new here.

Slaves can't own property.

You don't even own your own house.
Anonymous Coward
User ID: 21770437
Greece
08/12/2012 12:28 AM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Your grandparents had the solution to this.

Take your cash OUT of the banks. Enough people do it, there message would be loud and clear.
AZGal
User ID: 1486221
United States
08/12/2012 12:38 AM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Since I don't listen to the Freemason Glenn Beck or the Illuminatus (and cousin to Sarah Palin) Hush Lobotomy, I have never heard of Ann Barnhardt til tonight. I did some checking.

First off, Barnhardt is a tribal name. A. Barnhardt claims to be Catholic -- to me (who has spent a great deal of time researching this stuff), that spells crypto-J. Further supporting that premise is the fact that she publicly "affirms" that the J's are "God's chosen people." Supposedly, in an effort to buttress her zionist angle, she has pulled public stunts like inserting pieces of bacon into a Koran/Quaran.

She also has hooked up with Floyd Brown and is playing the PAYtriot movement speaking circuit, going on and on about Ocommie not being a natural-born citizen. If she's half as bright as she claims to be, then she would know that the "birther" issue is MOOT since the CORPORATION doesn't give a crap where their CEO was born.

Anyone who has even cursorily studied the Hegelian dialectic can see right through this stuff! Good God, you people are dense for falling for this crap.

In light of the above, the 3:33 time that someone else astutely pointed out now takes on MORE SIGNIFICANCE.
Anonymous Coward
User ID: 855760
Canada
08/12/2012 12:46 AM
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Thats it...Im closing all accounts and running ass and elbows away from them with my $19.10

ahhh
your mom
User ID: 12073352
United States
08/12/2012 12:51 AM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
This has no effect on the so called "little guy.

The majority of individual bank accounts are federally insured to $250,000.

These are the big players that you all here at GLP seem to despise that are at risk.

As for BYNM?

They are the ones that gave up the money and of course they would have first dibs. And I'm sure THEY have small depositors whose money was put at risk.

Sentinel is some sort of trading house?

Anytime you have large amounts of uninsured money at one of these places you are taking a risk.
 Quoting: G. House


You are incorrect on this point. Where do you think the money comes from to pay for that insurance premium? The fees that create that FDIC backstop that you speak of come from premiums that the member banks pay to be FDIC insured. Those premiums in turn are paid by member banks from the money they make on fees charged to their customers. They changed the FDIC coverage from 100,000 to 250,000 after the recent crash. That is one of the reasons why bank fees went up in recent years.

If this precedent is carried forward to the largest banks it would destroy the FDIC and the banks together. The banks survive on the perception of safety and confidence of depositors. If they are not responsible for the safety of deposits the have become useless. The FDIC is not capable of protecting failing banks if there were bank runs caused by a lack of confidence. If one of the largest banks suffered enormous losses from a similar situation such as BYNM and they are not found responsible to their depositors, it might be all that is needed to start a domino effect.

This would affect all those little guys you speak of.
Anonymous Coward
User ID: 20022035
United States
08/12/2012 01:06 AM
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...Oh BTW...the crooks at Sentinal who tried to rip off Mellon Bank and failed..are in some trouble for ripping off customers....I guess the rich and powerful do fall :

Sentinel Management Executives Indicted Over Alleged $500 Million Fraud

Prosecutors on Friday indicted two former executives at Sentinel Management Group Inc. on federal fraud charges, almost five years after the collapse of the small asset manager rattled Chicago futures markets.

Eric Bloom, Sentinel's former chief executive, is alleged alongside head trader Charles Mosely to have defrauded more than 70 clients of more than $500 million between 2003 and 2007.

Sentinel's clients included small brokers operating on exchanges run by CME Group Inc. (CME) and others, who found their funds frozen as the firm filed for bankruptcy in August 2007, limiting their ability to trade just as the global financial crisis entered its most critical phase.

The 20-count federal indictment escalates a case that has already attracted civil lawsuits from the Commodity Futures Trading Commission and the Securities and Exchange Commission, as well as charges from the Sentinel's bankruptcy trustee.

Bloom and Mosely are alleged to have used client funds to back a loan from Bank of New York Mellon Corp. (BK), which was then used to buy riskier securities for a private trading account used for the benefit of Sentinel executives and some members of Bloom's family, according to the indictment.

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Anonymous Coward
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08/12/2012 01:32 AM
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Re: Fed Judge rules your Bank Accounts are not Your property, banks not responsible if they lose your funds.
Guys heard of credit unions? Community Banks? It's there, and its not our fault you're too stupid to use it.
 Quoting: Anonymous Coward 18372701


I replied to another person who thought this was such a brilliant idea back on page 2.

It bears repeating.

=================

AC 846701 wrote: "Banks have been doing this for ages, where have you been? Anyone with any decent amount of money knows this and this is why so many of them are picky at what banks they choose."

My reply:

"Apparently where I have been, and am, is even further ahead of the curve then you.

This overt admission of collusion by the federal judiciary is a monster warning sign.

It says the following.

Anyone with a decent amount of money who keeps it in ANY bank, is at risk.

Because when the planned market collapse and currency devaluation/reshuffling occurs, this will force large and medium banks into a bank holiday to arrange for their Bankruptcy reorganization. The FDIC is toast, and their creditors (The FED, IMF, WorldBank, etc) will give their account holders the equivalent of 50 cents on the dollar if they are lucky.

The "picky" people will find their small local "safe" banks and credit unions will have to devalue their accounts for various reasons including the currency valuation reset, and their own investment losses. Not to mention that even they will be effected by bank runs, and will prove no more capable of producing their account holders "goods" than any other bank.

Sorry.

The savvy retain only enough cash in the bank to cover 2 months of bills max. The rest of their worth is divided into cash in a safe at home, precious metals/gems, land, vehicles, guns/ammo, stored food, clothes and tools."
 Quoting: Anonymous Coward 19449421



The only real question is if they devalue the bank accounts by 50 percent, will they keep the LOAN amounts the same or cut those as well?





GLP