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Post by wildhorseluvr on Mar 30, 2022 13:56:35 GMT
Tom Tried to find something on that legislation you referred to: I'd also point out that several years ago Congress passed a law, at the bankers request of course, to make their depositors "lenders" to the bank. In other words, if (when) there's a collapse similar to '08 but this time it can't be stopped, you go on the bank's list of creditors and your money is theirs, no emergency orders required, it just is.Could not find anything on a quick search. You wouldn't happen to have a bill number or search tip? I'd like to look at it in some detail. My Google-Foo is evidently rather poor! thanks, Tim I remember reading about this at the time but can’t find much about it now either. I’ve discussed this with people on occasion, not sure they believe me. They’re convinced their $ in the bank is safe, at least up to $250,000. At this point in my life, I’m convinced nothing the government touches is safe.
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Post by Ozarks Tom on Mar 30, 2022 15:49:44 GMT
tarbe, Google "are depositors bank creditors" and you'll find a bunch of stuff. Here's one:
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Post by tarbe on Mar 30, 2022 16:31:48 GMT
I had read about the possibility of a "Bail-In". I had no idea it had essentially be codified way back then...
Where does the insanity end?
I think I will be breaking out in hives any minute now....
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Post by Ozarks Tom on Mar 30, 2022 18:21:33 GMT
tarbe, Hey, look at it this way, if it comes down to banks "bailing in", the dollars they'd be stealing wouldn't be worth spit anyway. See? There's always an upside to everything.
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Post by Ozarks Tom on Mar 30, 2022 22:45:50 GMT
tarbe , If an argument comes up like "well, the FDIC insures us to $250,000", it should be explained that if a "bank holiday" is proclaimed the FDIC will be broke in the first 10 minutes. There's no way the FDIC can cover all the losses of the people with bank accounts in this country.
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Post by farmrbrown on Mar 30, 2022 23:04:42 GMT
And that's exactly why the knowledge and experience shared on forums like this could be worth a lot more than whatever money you may have left in your pocket one day after everything hits the fan. Sometimes your best assets are stored between your ears.
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Post by tarbe on Apr 1, 2022 12:33:17 GMT
tarbe , Hey, look at it this way, if it comes down to banks "bailing in", the dollars they'd be stealing wouldn't be worth spit anyway. See? There's always an upside to everything. Always the optimist!
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Post by tarbe on Apr 1, 2022 12:39:03 GMT
I am trying to get us on the same page....and that means me moving a bit on something, as well. Also trying not to shove my opinions down the poor girl's throat. That is not a recipe for lasting bliss! Last night my comment was along the lines of the thought that securing more gold and silver is not really spending money. It is more like trading fake, depreciating paper currency for real money. And if you decide at a later date you miss your fake, depreciating paper currency, you and always give someone your real money for the fake stuff....and the exchange rate will likely be better than when you made the first transaction. This is all done via text as we are 700 miles apart right now due to work. Her reply was a thumb's up!
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Post by tarbe on Apr 1, 2022 20:28:06 GMT
Not sure whose prayer was answered...maybe all of them, in a way. DW green-lighted another purchase. Trading this paper junk for Silver and Gold almost seems like stealing. And prices are down a bit, so all the better. More ounces for my $. Holding pure Silver or Gold in your hand...you just instinctively know it is of value. I think we are somehow wired to know this stuff is not ordinary. Try it....you'll like it (after you have your high-interest debt paid down and your preps reasonably taken care of). Thanks for letting me ramble....
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