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When are the banks/US dollar going to collapse ?

 
ZeHammer
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User ID: 19206559
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08/13/2012 07:14 PM
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When are the banks/US dollar going to collapse ?
predictions ? When should I take my money out of the bank ?hiding
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catsscratchfever

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08/13/2012 07:44 PM
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Re: When are the banks/US dollar going to collapse ?
Warning: Get Your Money Out: ‘All Legal Bank Deposit Protections Are Now Officially Gone’

August 13, 2012

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.”

The implications of the ruling, according to Barnhardt, will affect the monies of all private individuals who have seen their deposit accounts wiped out in the collapse of firms like John Corzine’s MF Global and put all deposit account holders in the country at risk should their bank be faced with a financial windstorm:The ruling is specifically designed to protect large financial institutions that have (purposefully) mismanaged customer funds and used the hard-earned life savings of Americans to gamble on equities, commodities and bond markets. If those firms happen to make the wrong bet, as MF Global, Sentinel and a handful of others have recently done, depositors who have placed funds with the banks under the belief that their bank account is securely protected from trading liabilities are now completely exposed and liable for the incompetence and negligence of those who engage in market trading.

This latest ruling combined with recent actions by the Federal Reserve and other government regulators suggests a massive fraud has taken place and the financial system itself is under extreme strain with the potential to make the financial collapse of 2007/2008 look like just a training exercise.

In recent days, for example, it’s come to light that the government has secretly called on the country’s five major banks to prepare themselves for collapse by creating stress recovery plans to be used in the event of worst case scenarios.

A few weeks ago, the Federal Reserve also implemented a new policy for money market funds held by financial institutions. Per the new policy, money market funds, which account for some $2.7 trillion in deposits across the United States, can be frozen in the event of an emergency or financial panic. This means that if and when the system does go into a tailspin, at exactly the time people will want to pull their money out of their bank account, they will be restricted from doing so.

These latest actions by government regulators, judges and financial institutions point to one thing that we have an unprecedented financial collapse in the making. If such a financial crisis comes to pass it is clear that the policies and procedures now in place will transfer the legally owned deposits and money market savings of individual Americans into the hands of the banks at which those funds are kept.

Get Your Money Out.,,,FUCKING NOW....gaspgaspgaspgaspgaspgaspgaspgasp
Anonymous Coward
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08/13/2012 07:56 PM
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Re: When are the banks/US dollar going to collapse ?
hurry up and CRASH.
Dervish

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Turkey
08/13/2012 08:10 PM

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Re: When are the banks/US dollar going to collapse ?
If the dollar collapses why would you care to take your money out of the bank?

Dollar will not collapse.Period.Not in your or my lifetime.
Banks may.Businesses definitely.The general economy make drag in the mud...but the USD will not collapse.

All it takes to regenerate the economies of the world is to increase the velocity of money.As trillions flow into bailouts etc it slows the velocity of money unless those with huge amounts start spending. If they reinject the cash into the economy everything picks up overnight.

They are not doing that.They are slowing the velocity of money intentionally to drop prices(deflation) to buy more assets at fire sale prices and increase the wealth of the wealthy at the expense of the average Joe.
I know enough to know that I know nothing

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