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Hiding Bear

B4 The Bell Frieday May 28

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Canadian banks have been releasing earnings this week..Four of the big five netting 2.3 billion with BNS to go.

 

My battle getting CASH out of my bank account continued a few days ago. When trying to withdraw 9000 dollars cash I was informed, after much screaming on my part, that 2000 dollars CASH is now the maximum amount a client can withdraw without 2 BUSINESS DAYS PRIOR NOTICE! UFB

 

Fractional Reserve Banking at its best. The Jekyll lives.

Holy Crap!

 

Cash is now the enemy?

 

they need two days advanced notice to fly in an agent to photograph and fingerprint you accepting delivery of your own money.

Any withdrawal of 10000 or more CASH and you have to sign a document

They say its to protect them from the liability of you being robbed on the way home.

I say the matrix is watching our every move.

Be warned stoolies. When this thing lets go you wont be able to get near a bank or cash machine, if they are running, which they wont be.

I am paranoid for good reason after these personal experiences with the system.

 

I heard fractional reserve banking in Canada in reality is 80 to 1 taking into consideration the credit cards that are bombarding me with teaser loan applications. The whole system is designed to fail.

 

Who will pay?...We will pay.

Many Western governments reduced or eliminated reserve requirements for banks during the 1990s. (Remeber the Great depression of 1990 that did not happen?) This signifies an increase in the banks' powers of money creation since a reserve requirement of 10 percent (of total assets) allows a bank to create $9 dollars of credit for every $1 of cash held by the bank, while a reserve requirement of 1 percent permits the bank to create $99 of credit for every dollar of cash. The declining reserve requirements for nontransaction and transaction deposits (in brackets) are as follows:

 

Canada

3 % (10 %) 1989

0 % (0 %) 1999

 

France

3 % (5.5 %) 1989

0 % (1 %) 1999

 

Germany

4.95 % (12.1 %) 1989

2 % (2 %) 1999

 

Japan

2.5 % (1.75 %) 1989

1.3 % (1.2 %) 1999

 

United States

3 % (12 %) 1989

0 % (10 %) 1999

 

United Kingdom

.45 % (.45 %) 1989

.35 % (.35 %) 1999

 

 

"In 1991, the Mulroney government secretly phased out the requirement of Canada's banks to hold any currency reserves to cover the money they loaned out to governments and individuals at compound interest rates. The Bank of Canada pushed for this zero-reserve policy. Governor Gordon Thiessen still advocates it, repeating word-for-word the banks' absurd slogan that reserve requirements for the money the banks [create and] loan out at compound interest is "an unfair tax on the banks"!"

 

-John McMurtry, Economic Reform, November 2000

 

 

When debt sponges have absorbed all the debt they can absorb...they must be wrung out...The vast majority of sponges are not of much use after they have been wrung out though...

 

household-ratio.gif

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B4,

 

I think today closes up..could be a big up.... and Tuesday closes down but what do I know.. !

 

Welcome to the ways of the Matrix

I'm taking the opposite side of that. Down today and big up on Tue.

I'm thinking we go nowhere today - more consolidation. Tuesday is the question for me.

 

If the scenario I posted yesterday (descending triangle on the NDX until the election, then a tumble) is valid, we should be near the top now. But I would not be at all surprised to see a big up day Tuesday assuming an uneventful long weekend.

 

If that happens we could be in for a retest of the highs, possible a few months of consolidation up there until the election, then a resumption of the down trend. Who the hell knows though. All just WAGs at this point. That's why I play it in the ultra short term.

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What if everyone wanted large sums of money all at once

In the unlikely event that everybody wanted to take out their cash deposits simultaneously, using the example of the Citicorpse they would reorganise their balance sheet below as follows.

 

1. Take their small cash reserves and get the NY Fed to repo their entire holdings of marketable securities and short term investments.

 

2. Use the proceeds to repay in full depositors represented by other short term creditors.

 

3. That?s not quite it; without any deposits they could apply fractional reserve ratios to they would have to start calling in their existing loans and needless to say nobody would be able to borrow a penny.

 

4. ShittyGroup wouldn?t be in trouble in the sense they were insolvent but everybody else would be stuffed and society would rapidly seize up.

 

Judging by the amount of misinformation being spread around this would seem to be what some people yearn for.

post-20-1085758227.png

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No way they allow a significant selloff before the long weekend after all the production they got this week. Also only 20 plus Dow points to have a positive month.

But as always

WTFDIK!

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$10,000 or more ... whether you have to sign a document or not...

the bank is required by Fed Law to report all transaction to the Feds.

I think it was part of the Law passed to deal with money laundering/drug

trafficking. When I moved an IRA, it got reported. No exceptions?

 

The cash limitations are partly explained by banks no longer needing to

have so much cash on hand due to checks and electronic transactions.

Everybody is supposed to be afraid to carry cash or have it on hand.

Right?

Well, one day I opened my son's silverware drawer and there lay $2000

he had tossed inside. I started to scold...

then I decided that maybe he was smarter than me. LOL

 

I think the rule of thumb needs to be STASH CASH on an ongoing basis.

If the system collapses, will I just lose the TSP and IRA balances?

This gets very scary!

 

 

Sherlock

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What if you rob a bank? Will you have to report that "withdrawal" too? (Like getting Al Capone for tax evasion) :lol:

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Kathie Lee seems to be breaking out on big volume.

 

Up 6 days in a row.....

 

Amazing how these Hookers are chased constantly...

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I don't think it requires a conspiracy theorist to understand how it came to be that Attorney General John Ashcroft and FBI Director Robert Mueller were acting at the behest of an agenda that would rapidly "change the subject" from prisoner abuse scandals to matters of homeland security when the following "surprise announcement" occurred...in direct clonflict with the legal structure put in place since 9/11:

 

 

Terror warning surprises Homeland Security Dept.

 

 

By Thomas Frank

Washington Bureau

 

May 28, 2004

 

WASHINGTON -- The Homeland Security Department was surprised by the announcement Wednesday by Attorney General John Ashcroft and FBI Director Robert Mueller that a terrorist attack was increasingly likely in the coming months, officials said.

 

The department, created a year after the Sept. 11, 2001, attacks, is charged with issuing terrorism warnings to the public, and tension arose when Ashcroft and Mueller effectively took over that role at a news conference Wednesday when they said al-Qaida is preparing an attack inside the United States.

 

Officials said the Homeland Security Department knew in advance about the news conference but expected it to focus on seven suspects with ties to al-Qaida who were wanted for arrest or questioning. Department officials were caught off guard when Ashcroft went further and warned that al-Qaida "is ready to attack the United States."

 

The news conference, which excluded Homeland Security Secretary Tom Ridge, raised concerns in Washington that his department was not coordinating the domestic fight against terrorism, which was confusing the message for the public and for local authorities.

 

Earlier on Wednesday, Ridge spoke on morning television shows and appeared to downplay the threat that Ashcroft would later trumpet, officials said. He told ABC's "Good Morning America" that the threats are "not the most disturbing that I have personally seen during the past couple of years."

 

http://www.newsday.com/news/nationworld/na...454,print.story

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WASHINGTON -- The Homeland Security Department was surprised by the announcement Wednesday by Attorney General John Ashcroft and FBI Director Robert Mueller that a terrorist attack was increasingly likely in the coming months, officials said.

 

The department, created a year after the Sept. 11, 2001, attacks, is charged with issuing terrorism warnings to the public, and tension arose when Ashcroft and Mueller effectively took over that role at a news conference Wednesday when they said al-Qaida is preparing an attack inside the United States.

The Treasury Secretary issuing labor forecasts, the Attorney General issuing terror forecasts. What's next - the Fed issuing energy forecasts? Scratch that last one - the Fed has already taken over that job! :P

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WASHINGTON -- The Homeland Security Department was surprised by the announcement Wednesday by Attorney General John Ashcroft and FBI Director Robert Mueller that a terrorist attack was increasingly likely in the coming months, officials said.

 

The department, created a year after the Sept. 11, 2001, attacks, is charged with issuing terrorism warnings to the public, and tension arose when Ashcroft and Mueller effectively took over that role at a news conference Wednesday when they said al-Qaida is preparing an attack inside the United States.

The Treasury Secretary issuing labor forecasts, the Attorney General issuing terror forecasts. What's next - the Fed issuing energy forecasts? Scratch that last one - the Fed has already taken over that job! :P

I can only imagine what Shrubs staff meetings must be like...

 

They probably play musical chairs with a different title on each chair, then roll play being what ever chair they end up in.

 

The lack of organization is amazing, ..

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What if everyone wanted large sums of money all at once

In the unlikely event that everybody wanted to take out their cash deposits simultaneously, using the example of the Citicorpse they would reorganise their balance sheet below as follows.

 

1. Take their small cash reserves and get the NY Fed to repo their entire holdings of marketable securities and short term investments.

 

2. Use the proceeds to repay in full depositors represented by other short term creditors.

 

3. That?s not quite it; without any deposits they could apply fractional reserve ratios to they would have to start calling in their existing loans and needless to say nobody would be able to borrow a penny.

 

4. ShittyGroup wouldn?t be in trouble in the sense they were insolvent but everybody else would be stuffed and society would rapidly seize up.

 

Judging by the amount of misinformation being spread around this would seem to be what some people yearn for.

"3. That?s not quite it; without any deposits they could apply fractional reserve ratios to they would have to start calling in their existing loans and needless to say nobody would be able to borrow a penny".

 

Where in the world would the debtors find the money to pay back the loans????

The whole thing would implode as it would spread to other lending institutions and the NY fed would be powerless to stop it regardless of how many clownbucks they printed.

 

 

"

"Judging by the amount of misinformation being spread around this would seem to be what some people yearn for."

 

What misinformation are you referring to?

As far as ones yearning for society seizing up the fed if anyone could be accused of that, as they created this end game we are headed for. How do you see it as being sustainable? Please enlighten me.

TIA

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