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bigsacks
09-02-2010, 10:23 AM
http://finance.yahoo.com/news/Bernanke-Shut-down-banks-if-apf-572552694.html?x=0

Bernanke: Shut down banks if they threaten system
Fed chairman says large banks must be shut down if they threaten the financial system


since when was ben ever in favor if shutting down banks.....lol

SmPot
09-02-2010, 10:31 AM
Question - what would shutting down a bank entail? Here's what I mean... before electronic bill pay/debit cards, etc. one had to physically go to a bank to get their "money."

So would this mean that internet access to bill pay be cut off? Debit cards wouldn't work? That kind of "shut down" could actually stop commerce (whereas the other kind just slows it down) in these times of instant electronic payments versus mailed checks.

How would such a holiday be implemented these days when so much is electronic?

Spock
09-02-2010, 10:45 AM
Thats what irks me about the mass stupidity these days. "so what if the bank is closed... I do my banking online".
Closing a bank is not an adjustment of their office hours. Its shutting down their operations. Period.
In individual FDIC bank closures, a third party typically assumes the operations and keeps re-opens the branches in a matter of hours and then assimilates the back offices over time... "merger by shotgun"/
In a bank "holiday" so many people worry about, ALL bank operations are stopped.

silverone
09-02-2010, 10:46 AM
http://finance.yahoo.com/news/Bernanke-Shut-down-banks-if-apf-572552694.html?x=0

Bernanke: Shut down banks if they threaten system
Fed chairman says large banks must be shut down if they threaten the financial system


since when was ben ever in favor if shutting down banks.....lol

No Kidding... WATCH OUT FOLKS!:eek:

Givemegold
09-02-2010, 12:04 PM
Thats what irks me about the mass stupidity these days. "so what if the bank is closed... I do my banking online".
Closing a bank is not an adjustment of their office hours. Its shutting down their operations. Period.
In individual FDIC bank closures, a third party typically assumes the operations and keeps re-opens the branches in a matter of hours and then assimilates the back offices over time... "merger by shotgun"/
In a bank "holiday" so many people worry about, ALL bank operations are stopped.

Yes then why does it take almost a year to get your fdic insurance money then? What happens to the guy with 1 million dollars that just became 250k????

Givemegold
09-02-2010, 12:05 PM
http://finance.yahoo.com/news/Bernanke-Shut-down-banks-if-apf-572552694.html?x=0

Bernanke: Shut down banks if they threaten system
Fed chairman says large banks must be shut down if they threaten the financial system


since when was ben ever in favor if shutting down banks.....lol

I guess the fed needs to be shut down then.;)

Spock
09-02-2010, 12:32 PM
Yes then why does it take almost a year to get your fdic insurance money then? What happens to the guy with 1 million dollars that just became 250k????

A guy with 1M in an account insured for 250K deserves to lose the 750K.
Its no different than somebody with a 1M dollar house who only insures it for 250K and then had house fire and complains the insurance company won't pay for the 1M loss.

If you are above FDIC insurance limits, split your money across multiple banks.

This is an example of another bailout. The rules were published and well known. Why should uninsured depositors be made whole when they ignored those rules and then did not pay attention to the health of the institution they parked their money at?

Givemegold
09-02-2010, 12:42 PM
No one deserves loosing 750 k. No one.

Don't quote me if you are not going to answer my questions.

dukadan
09-02-2010, 01:43 PM
They want all the banks to collapse so the new identity they created in the financial reform bill will own all the property and control all the money. It will be the only thing that will save everyone. So they say as your freedom is stripped away unless the people wake up today. People are waking up but they are griping about things that happed a year ago. It takes the population a year or two to catch on what happens today? A bank holiday would wake people up pretty quick though. There is no authority on what the FED's and treasury secretary can do with the dollar today not even congress. They have to maintain the illusion of wealth in America to keep people suckered in for as long as possible but can pull the plug anytime they want especially when they are playing with everything toxic and other countries don't want it.

They want to play with the derivitives market and hide all those bad loans but will own them all for nothing. Its all the worst CDO's created on wall st and they want to maintain that illusion because China own them?

http://noir.bloomberg.com/apps/news?pid=20601087&sid=awEVuP6X3AAg&pos=5

Spock
09-02-2010, 01:58 PM
No one deserves loosing 750 k. No one.

Don't quote me if you are not going to answer my questions.

I did answer your questions.
Q: Why does it take a year to get uninsured money returned after a bank collapse?
A: They shouldn't get it returned at all any more than the under-insured homeowner example I gave.

Q: What happens to the guy with 1 million dollars that just became 250k????
A: He loses 750K for being too stupid to spread his deposits across enough institutions to be 100% insured.

MoMoney
09-02-2010, 02:09 PM
I did answer your questions.
Q: Why does it take a year to get uninsured money returned after a bank collapse?
A: They shouldn't get it returned at all any more than the under-insured homeowner example I gave.

Q: What happens to the guy with 1 million dollars that just became 250k????
A: He loses 750K for being too stupid to spread his deposits across enough institutions to be 100% insured.

Spock;
I think it's your tone...the depositor was NOT a gambler...he put his money in the bank, not on the craps table.
He deserves to lose nothing at the hands of the banksters.

Givemegold
09-02-2010, 02:27 PM
Thats what irks me about the mass stupidity these days. "so what if the bank is closed... I do my banking online".
Closing a bank is not an adjustment of their office hours. Its shutting down their operations. Period.
In individual FDIC bank closures, a third party typically assumes the operations and keeps re-opens the branches in a matter of hours and then assimilates the back offices over time... "merger by shotgun"/
In a bank "holiday" so many people worry about, ALL bank operations are stopped.

Here let me go back and try again. I apoligize for not making my point more clearly to you.

"If you say a third party typically assumes the operations and keeps reopens the branches in a matter of hours and then assimilates the back offices over time...."merger by shotgun"/"

This is why I asked my questions. That statement right there by you. No ones account with a million dollars is going to reopened in a matter of hours.
What happens to a bank is the assets go up to the highest bidder. Pennies on the dollar time.

A bank holiday could happen very easily. Give me one headline in the National Media and I could cause a bank holiday. I would just tell the truth and it would cause a bank run which would cause a bank holiday. All it takes is like 10 percent of people to demand their money in their accounts to be given to them in cash and goodnight to the system we have. That is why the Rothschild wants nothing but electronic banking in his book and dedicated a whole chapter to it. You can't take cash out of the system when everything is electronic.

joethebummer
09-02-2010, 02:43 PM
CAPTIAL CONTROL

creeping, creeping..BAM!

GuldGosse
09-02-2010, 02:46 PM
[url]Bernanke: Shut down banks if they threaten system
Fed chairman says large banks must be shut down if they threaten the financial system


since when was ben ever in favor if shutting down banks.....lol

I can see that the private federal reserve bank wants to shut down their competition.

Don't forget that the federal reserve (privately owned central bank) was founded by the large wall street banks to create a monopoly on the creation of credit in the U.S. At that time, the regional banks had upwards 65% of the credit creation and the wall street banks wanted to consolidate power.

Read 'The Creature from Jekyll Island (http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986395/ref=sr_1_1?ie=UTF8&s=books&qid=1283456684&sr=8-1)' for the details.