Thread: Really OVERT theft: give up 10% of your bank balance to save banks, finance companies

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  1. #11  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by Apocalypse View Post
    This is about the dumbest plan ever. A short term fix, that will only cause long term problems worse then the one's they have now. And funny, the socialist leftist states are demanding it.

    Think about what it will do.

    They have locked down all the banks right now. No one can access their money so the state can take their 10%.

    This hurts every one, even worse the lower income people and those struggling. Right off the bat. It lessons some of the burden the Gov. has right now with their debt, but its only a ban-aid to the greater problem.

    But when those banks re-open, the people will rush them demanding their money, not trusting any of the banks, or their Gov. to try this again. This will cause a run on the banks. And more then likely, they won't have the money to cover it. You will see banks collapsing as it did here in our past, and people who were not first in line will likely see any money they did have left in the banks disappear as they collapse. Not to mention possible riots at banks as people can't get their money or furious about losing 10% like this.

    This will then ripple to jobs as business's will ether start having calls from desperate banks demanding repayment to survive unable to repay loans, loss in economy activity and an over all worsening of the economic situation.

    Then think long term. If people don't trust their banks not to have this happen again. Those banks cant survive, or if they do, loans are very limited with increadable interest rates. Thus making it harder for companies to expand, or even start up. Home loans near impossible, and an iron grip on the economy in general.

    If you wanted to slam a nation into a desperate depression and destroy an economy, this is how you do it.
    The banks that cannot meet their obligations will end up getting taken over by the state, which is what the leftists want. The elimination of private banking means the elimination of financial privacy and complete government control of the economy. After all, does it matter who owns the factory if the only place that the owner can go to get an expansion loan is the government? They will have more power over the other sectors of the economy than if they had tried to nationalize them, and the beauty of it is that it will be precipitated by a "crisis" in banking that will create the demand for this action.

    Quote Originally Posted by Starbuck View Post
    Another good way was wage and price controls.
    And taking over the healthcare sector.
    --Odysseus
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  2. #12  
    Destroyer of Worlds Apocalypse's Avatar
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    Quote Originally Posted by Odysseus View Post
    The banks that cannot meet their obligations will end up getting taken over by the state, which is what the leftists want. The elimination of private banking means the elimination of financial privacy and complete government control of the economy. After all, does it matter who owns the factory if the only place that the owner can go to get an expansion loan is the government? They will have more power over the other sectors of the economy than if they had tried to nationalize them, and the beauty of it is that it will be precipitated by a "crisis" in banking that will create the demand for this action.



    And taking over the healthcare sector.
    But you are left with one massive underlining problem. And one made worse then. If the people don't trust the banks, or espcially their Gov. raiding their savings, why would they then trust a Gov. run banking system?

    Their banks are toast, people will go to banks out side of that nation, or use cash. It will only hurt the econ.

    FYI, announced they killed the 10% raid, due to the riots.
    Rest In Peace America
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  3. #13  
    PORCUS MAXIMUS Rockntractor's Avatar
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    Quote Originally Posted by Apocalypse View Post
    But you are left with one massive underlining problem. And one made worse then. If the people don't trust the banks, or espcially their Gov. raiding their savings, why would they then trust a Gov. run banking system?

    Their banks are toast, people will go to banks out side of that nation, or use cash. It will only hurt the econ.

    FYI, announced they killed the 10% raid, due to the riots.
    Following the bank crashes in the earlier part of the century many people here quit using banks, I knew lots of older people when I was growing up that used only cash and did not trust banks for anything, even loans.
    This would be a strange twist in our electronic almost cashless society if once again a large segment of our population backed off and quit using banks system. I don't think we could, it would be a mess.
    How is obama working out for you?
    http://i686.photobucket.com/albums/vv230/upyourstruly/5d569df9-186a-477b-a665-3ea8a8b9b655_zpse9003e54.jpg
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  4. #14  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by Apocalypse View Post
    But you are left with one massive underlining problem. And one made worse then. If the people don't trust the banks, or espcially their Gov. raiding their savings, why would they then trust a Gov. run banking system?

    Their banks are toast, people will go to banks out side of that nation, or use cash. It will only hurt the econ.

    FYI, announced they killed the 10% raid, due to the riots.
    The people don't have to trust the banks, we just have to comply with our orders. Once the nationalization is complete, there will be no other legal means of institutional savings or investment. You can still keep money in your mattress, but it will lose value as inflation erodes it. Buying gold was outlawed once, and can be again. You won't be able to get a business loan, student loan or any other kind of loan unless your terms satisfy the bureaucratic goals of the administration, which means that you will have to demonstrate that you comply with all applicable regulations, not to mention the unwritten ones (Want to start a business? Go to college? Did you make out your campaign contribution to the DNC? No? Too bad, the party could have expedited the process. Oh well, just fill out these forms in quadruplicate and we'll process them over the next several years. Yes, you will have to demonstrate that your business/field of study has no environmental impacts... Yes, you will have to demonstrate that you are sufficiently diverse to qualify for the loan... No, I'm sorry, but being a veteran doesn't help you, since Homeland Security says that you're all terrorists anyway...")

    As for what it does to the economy, do you really think that the left cares about the economic impacts of their power grabs? They'll always be able to get what they want. That's what power is for. And the beauty of it is that the grubby little capitalists that they despise will have to come to them to stay in business. The elites will live better than the rest of us, on our dime, and we won't be able to do anything about it.
    --Odysseus
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  5. #15  
    Power CUer NJCardFan's Avatar
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    The worst part is, thanks to the stupidity of the populace, when things go to shit, they will blame the Republicans and the lapdogs in the media will make sure that lie sticks. As I keep saying, Geobbles would be proud.
    "Inequality is a false notion propagated by those who are made to feel guilty for what they have by those who are jealous for what they don't"-Former MTV Host Kennedy
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  6. #16  
    Super Moderator bijou's Avatar
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    The European Union gave Cyprus till Monday to raise the billions of euros it needs to clinch an international bailout or face the collapse of its financial system and likely exit from the euro currency zone.
    http://www.reuters.com/article/2013/...92G03I20130321

    I suspect it'll be an empty threat, but the EU is ramping up the pressure.
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  7. #17  
    Senior Member TVDOC's Avatar
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    Quote Originally Posted by Apocalypse View Post
    But you are left with one massive underlining problem. And one made worse then. If the people don't trust the banks, or espcially their Gov. raiding their savings, why would they then trust a Gov. run banking system?

    Their banks are toast, people will go to banks out side of that nation, or use cash. It will only hurt the econ.

    FYI, announced they killed the 10% raid, due to the riots.
    Three words:

    "......Isle of Man......."

    Beautiful banking system, totally immune from the grubby hands of any government, and they have affiliations with most large US banks (deposits insured by Lloyds of London). You can pay your bills with their checks, and they are prompty honored......total freedom from government meddling. Been banking there for years......so long as the US income taxes are paid on any deposits, electronic transfers are easy and instantaneous.

    You have to declare these offshore accounts on your 1040 annually, however the IRS has NO access to them..........

    What politicians always fail to consider is that all wealth is "portable", and will gravitate naturally to the least risky and intrusive location, and where the income potential is the greatest. The dumbasses at the bottom of the income pyramid won't grasp theses esoteric solutions, however the vast majority of the "smart money" will be gone with a mouse click, should our politicians attempt a stunt like this.

    The great unwashed can riot and tar and feather them, but the real money is GONE...........if you really think that a person that has amassed a substantial amount of cash reserves gives a damn about the effect of offshore banking on the US economy........you need to reconsider, I sure as hell don't. This government screwed it up, let them fix it, but not with MY MONEY..........I'll grill steaks over it first.......



    doc
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