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Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.

 
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User ID: 585212
United States
03/24/2009 01:46 PM
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Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.
Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene. There Is an Easier Way.

Gary North
March 24, 2009

My view is that banks will remain open. The FDIC will see to that. So will the Federal Reserve. They dare not let a panic begin. The FDIC has asked Congress for a $500 billion line of credit. Congress will comply.

Gerald Celente thinks we could get a bank holiday. He went to his bank to withdraw currency. Here is his report on what happened.


Author's Note: Suspicious of the soundness of the banking system, I requested to withdraw a substantial sum from our Key Bank account, leaving funds sufficient to cover ongoing business operations. First they tried to dissuade me, then they stonewalled me, and finally they turned openly hostile.

I was forced to sign a series of documents, including one acknowledging that since I was carrying a large sum, I could be the target of a robbery. To enhance that possibility, the teller slammed down the bag of cash on the counter and publicly announced the sum.

Despite repeated requests in the days preceding my withdrawal to get the cash in hundreds, they gave it to me in twenties, making for a bag five times the size and more robber-friendly. When I complained to the bank manager who had processed the request, the response amounted to "take it or leave it."

This will not be an isolated event. If you attempt to withdraw a large chunk of money from your account, negotiate the details in advance and anticipate possible hassle and obstruction.

We've heard similar accounts from clients and Trends Journal subscribers who, over the past several months, tried to close out mutual funds, 401ks and assorted sinking equities. They were dissuaded, cajoled, belittled and arm-twisted by brokers desperate to keep their accounts. Many caved in under the pressure, didn't close them and lost most of what they had.


The bank manager was imposing needless penalties on Celente. This indicates fear. A bank should not argue with a depositor when the depositor wants to remove currency.

The better way to do this is with an ATM. Nobody notices. If you know what the daily legal limit is, you can withdraw $20 less. You can accumulate a lot of currency this way.

I don't see the need to store up more than $1,000 worth. Why not? Because if banks go down, nobody will be able to pay. Your income will cease. You won't pay your bills. The economy would collapse. Under such a scenario, your currency would not last long. Neither would the retail stores you shop at.

Only if the FDIC allows a few banks go under, leaving most others intact, would currency help you, if your bank was one of the busted ones. Only if the FDIC goes under would Celente's strategy make sense. I think there is no chance of this. The FDIC is more sacrosanct than Social Security.

The importance of Celente's account is the hostility of the local banker. There is great resentment against depositors who withdraw currency. So, avoid letting the bank know what you are doing.

Currency is good for getting better prices from sellers of used goods. This kind of shopping makes sense. Your ATM will let you do this quietly.

[link to www.garynorth.com]

[link to www.lewrockwell.com]
falchion6

User ID: 633134
United States
03/24/2009 01:50 PM
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Re: Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.
B.S. Once you have removed a couple thousand, the bank will freeze your account because of strange activity. That is unless you are constantly withdrawing thousands of dollars day-to-day.
Avian

User ID: 464853
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03/24/2009 01:55 PM
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Re: Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.
the sheep will wake up one day hanging from the meat hook...lifeless...ready for consumption...too late then...

TICK TOCK TICK TOCK
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Lester
User ID: 641791
United States
03/24/2009 01:58 PM
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Re: Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.
Key Bank group of MN is a pretty shaky institution. Has been on many watchlists for a couple years now. Celente proves he is an idiot to still be banking there.

Gary North was, in the mid-70s, as tell-it-like-it-is economist. Read his old stuff in Mother Earth News. North has sold out and now gives the Soft-Sell and scoffers perspective.

What is Howard Ruff saying these days?

There is more going on here, with the Collapse of America, than just TPTB looting the Nation. That has been done systematically since 1913 through the Federal Reserve Act and Income Tax. This is just the last go round before the Nation falls on its collective ass in collapse. It is the Big Bully hoisting US upside down by the ankles to shake out our last nickels from our pockets.

I read one of North's editorials in late 2003, early 2004 and recall thinking that, "...some govt provocateur is holding a gun on him to make him write this drivel." Maybe he got that National Lampoon cover where the eye-spotted dog is nervously looking at the magnum revolver pointed at his head? Something derailed North and made him get onboard the Govt's Mystery Train...

If you ever had any doubts about Celente, Key Bank is your proof in the pudding...
The Jurist

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United States
03/24/2009 02:03 PM
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Re: Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.
I have said it before and I will say it again: BANKS SUCK!!!

I have not dealt with one in 15 years.

`
(Be) Divide(ed) and (be) Conquer(ed)...

Don’t listen to what they say, watch what they do.

~There is Tranquility in Ignorance, but Servitude is its Partner. —me
~What luck for Rulers that Men do not Think. —Adolf Hitler

:damned: Doom is optional. There is good news abounds.
Anonymous Coward
User ID: 641843
Germany
03/24/2009 02:41 PM
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Re: Gerald Celente Tried to Withdraw Currency from His Bank. The Bank Stonewalled, Then Made a Scene.
I have said it before and I will say it again: BANKS SUCK!!!

I have not dealt with one in 15 years.

 Quoting: The Jurist

How are you on the internet then? Internet cafe? Which insurance companies can you pay with cash? etc... ??

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