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B4 The Bell Frieday May 28


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#46 brian4

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Posted 28 May 2004 - 11:15 AM

Opening now till the top of the hour-say G'nite Dick!

#47 Hypertiger

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Posted 28 May 2004 - 11:23 AM

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...

Posted Image
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...

#48 twignberries

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Posted 28 May 2004 - 11:23 AM

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.
When the last living thing has died on account of us, how poetical it would be if Earth could say, in a voice floating up perhaps from the floor of the Grand Canyon, “It is done.” People did not like it here.

- Kurt Vonnegut

#49 Lock Limit Down

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Posted 28 May 2004 - 11:28 AM

Great stuff Hyper
You are a human search engine
It is greatly appreciated
Again I had NO idea they had pushed it so far.
Posted Image
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

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Posted 28 May 2004 - 11:30 AM

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.

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#51 Lock Limit Down

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Posted 28 May 2004 - 11:32 AM

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!
Posted Image
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

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Posted 28 May 2004 - 11:33 AM

$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

#53 Drano

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Posted 28 May 2004 - 11:46 AM

What if you rob a bank? Will you have to report that "withdrawal" too? (Like getting Al Capone for tax evasion) :lol:
Of course I'm caustic!

#54 wndysrf

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Posted 28 May 2004 - 11:58 AM

Kathie Lee seems to be breaking out on big volume.

Up 6 days in a row.....

Amazing how these Hookers are chased constantly...
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#55 brian4

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Posted 28 May 2004 - 12:02 PM

Window now closed-the Pig limps on alone for a bit-it's going to crack-soon! ;)

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Posted 28 May 2004 - 12:03 PM

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.c...454,print.story

#57 Hiding Bear

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Posted 28 May 2004 - 12:08 PM

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

#58 No Einstein

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Posted 28 May 2004 - 12:17 PM

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, ..
Einstein quotes
"In order to form an immaculate member of a flock of sheep one must, above all, be a sheep."

"We can't solve problems by using the same kind of thinking we used when we created them."

#59 brian4

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Posted 28 May 2004 - 12:23 PM

Opening now to the top of the hour-Helmets on, Buckle up!

#60 Lock Limit Down

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Posted 28 May 2004 - 12:26 PM

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
Posted Image
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson





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