For those who like keeping their 'savings' in Western banks

[Mr S]

So basically if you keep most of your money in a bank and haven't diversified yet into other assets, preferably non-paper ones, your setting yourself up for a major butt banging the next time there is a banking crisis, which will be sooner rather than later in happening...

http://www.zerohedge.com/news/2014-12-2 ... nal-stages

The Destruction Of The Middle Class Is Nearing The Final Stages

Submitted by Tom Chatham via Project Chesapeake,

The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed.

At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that money if a banking crisis takes down the bank.

The spending bill just passed by congress makes the American taxpayer responsible for any derivatives loses that banks may suffer. These derivative holders now have first priority when any funds are paid out and depositors are relegated to last place. FDIC insurance will have to pay out these funds but it has no where near enough money to pay the more than 300 trillion in losses that will be suffered in a banking crisis. That means any depositor has little hope of getting anything back. In order for depositors to get anything back massive money printing would have to take place making any payout amount to only pennies on the dollar.

And if you don’t think there is any danger of a banking crisis in America you may want to keep in mind that the Treasury Dept. has recently ordered $200k worth of 72 hr emergency kits for dispersion to every major bank in America. These are known by many as bug-out-bags and are used to support individuals when disaster strikes and they have to care for themselves for the first few days of crisis.

New legislation now gives pension plans the ability to cut benefits to pensioners in the future making the future welfare of these people uncertain. They say it is necessary to prevent these funds from going bankrupt. It will “apply to multi-employer pensions, where a group of businesses in the same industry join forces with unions to provide pension coverage for employees. The plans cover some 10 million U.S. workers,” You may be happy to know this will not affect congressional pensions, as long as they are funded by the taxpayers.

The sanctions being placed on Russia are beginning to destabilize the world in many ways. The sudden drop in oil prices will send ripples through many foreign nations and cause an already tense situation to become highly flammable. It seems this is what is wanted to provoke a new world war and hide the complicity of bankers and politicians in the coming destruction of the economy.

For the past few years those elite with knowledge of the coming monetary destruction have been putting their fiat dollars into any hard assets they can find. The recent record prices paid at auction for collectables is just one more indication that those in the know are moving into hard assets as fast as they can to preserve their wealth.

This diversification includes precious metals and land as well. I believe when there are no more metals or suitable properties available for purchase, these entities in control of this game will pull the plug and let everything collapse. Those holding fiat paper, electrons or other paper promises will be devastated as those assets evaporate into thin air.

You may feel some security knowing you have a good job but among the deposits that disappear will be billions in commercial accounts that belong to businesses. When these businesses lose this money, many will likely close destroying many jobs in the process. This will send ripples through the transportation, production and distribution system when it happens. In an economy made up of 70% consumer spending, this will be fast and devastating to those with few resources to fall back on when it happens.

There are three lessons that many people will learn in the coming months. If you do not have it already you may not be able to get it. If you do not have it physically in your hands you do not own it. If you cannot protect it you will not have it for long.

[Moretorque]

People need to understand the USA republic went bankrupt in the great depression. The credit money is on loan plus interest from the system the receivers of the bankruptcy set up. The country is being taken over and is planned to be merged with Canada and Mexico for the interest owed on the credit to run our economy the last 80 or so years.

The individuals in the US have had plenty of time to figure the con out but have not therefore the American republic is a complete failure from the original intent by the fore fathers. Now I know why dictatorships have had a much better run throughout history. THE HERD!

[Taco]

People need to understand the USA republic went bankrupt in the great depression.

People also need to understand 7 million Americans starved to death(removed from the history books) in the great depression and will starve to death again soon. I recommend storing rice and pasta in mylar bags ASAP.

Most people will be blind sided by what's about to happen. They have no clue...

Customer Deposits Are Property of the Bank: Close Your Account NOW
http://www.occupycorporatism.com/custom ... count-now/

[OutWest]

People need to understand the USA republic went bankrupt in the great depression.

People also need to understand 7 million Americans starved to death(removed from the history books) in the great depression and will starve to death again soon. I recommend storing rice and pasta in mylar bags ASAP.

Most people will be blind sided by what's about to happen. They have no clue...

Customer Deposits Are Property of the Bank: Close Your Account NOW
http://www.occupycorporatism.com/custom ... count-now/

That claim was made in a 2008 Article in Pravda.
It was based on someone looking at demographic trends during that general period of USA history.
It is not supported by historical accounts of the period.
It was not "removed" from history books...it never was in history books. Having grown up around all kinds of children of the Depression, it certainly would have been a topic of discussion if mass starvation was a fact.

Believe it or not, there are some things that are not in any history books because they simply did not happen.

Being prepared and NOT keeping much money in banks has ALWAYS been a good idea. The tin foil hatters will be too distracted by thousands of idiotic theories to actually have the time to prepare for life in general.

[Taco]

People need to understand the USA republic went bankrupt in the great depression.

People also need to understand 7 million Americans starved to death(removed from the history books) in the great depression and will starve to death again soon. I recommend storing rice and pasta in mylar bags ASAP.

Most people will be blind sided by what's about to happen. They have no clue...

Customer Deposits Are Property of the Bank: Close Your Account NOW
http://www.occupycorporatism.com/custom ... count-now/

That claim was made in a 2008 Article in Pravda.

Your right, the author makes the assumption that the people starved to death. However, they just may just moved to a tent city somewhere and didn't get counted properly.

Famine killed 7 million people in USA
http://english.pravda.ru/world/americas ... -famine-0/

[Winston]

If we don't keep our money in Western banks, then where should we keep it then? And in what type of currency?

[Moretorque]

Make sure you have food water and everything you need to survive first and a bug out plan, all fiat currencies over time have returned to their real value and that is why people who understand history have been saying gold and silver for long term wealth preservation. I believe guns and ammo will be the gold as well as survival items and knowledge on how to use them.

2/3 of Americans or more could perish coming up and it's because the fools let the social engineers come in and setup a infinite growth paradigm. Considering how stupid the mass of the collective is the best thing that could happen for humanity is a major reset to try and stop the mass extinction and wake the FN morons up.

[Luc Furr]

If we don't keep our money in Western banks, then where should we keep it then? And in what type of currency?

Maybe Mr S will recommend the Russian Ruble or perhaps he has some gold to sell you. People always recommend what is in their best interest.

Re famine: Do you really believe Pravda socialists? I see it this way, If I was a socialist who constantly starved my people and destroyed my economy I would want to make it look like the other guys did the same or worse.

[newlifeinphilippines]

I have 175,000 in the bank right now (plus money elsewhere). I gave up my income today cause im changing directions im shutting down so ill be a pauper. but I want to do whats right to release this stranglehold to Jesus because it was the type of things I was doing to get there etc. Im waiting for a stock crash to put my money there.

[Moretorque]

Yaa you hit it on the head, socialism is the biggest lie of the last 165 years. All it is is a group of people who are running a counterfeiting operation and hunting for a dictatorship to rule forever with their phony financial system.

The mass of the people is what gives it it's power and the collective stupidity of it to not be responsible for it's own actions. You cannot really blame our rulers.

[Moretorque]

when they crash America again they are not going to re inflate it, I believe they want to do a Yuan reserve currency next. A Century of War is a great read by William Engdahl. He explains how the elite passes the baton from one power block to the next to build this one world system.

[Winston]

Rock is putting all his money in Asia. He has bank accounts in China, Philippines, Taiwan and maybe Thailand too. Rock, is there a reason you're doing this? Can you elaborate? Should we do the same?

Newlifeinthephilippines, so you're giving up your $25,000 a month online income for your religion? Yeah right. lol

[Rock]

Rock is putting all his money in Asia. He has bank accounts in China, Philippines, Taiwan and maybe Thailand too. Rock, is there a reason you're doing this? Can you elaborate? Should we do the same?

Newlifeinthephilippines, so you're giving up your $25,000 a month online income for your religion? Yeah right. lol

Bank accounts are for practical convenience since I have assets or business in those countries and use the accounts for rent payments, capital transfers in and out, etc. I also have accounts in USA. But I don't keep much money in bank account (cash) of any currency with former exception of Chinese Yuan (that's over tho). Cus cash is a wasting asset. Fiat money trends down in real value. It's better to find something that grows or at least has a high yield.

If you park your money in bank accounts, they will yield very little (interest rates remain at all time lows going back over one hundred years) but loose around 20-60% of purchasing power every decade.

[Rock]

Oil futures may soon be a good punt, especially if brent falls down to 09 financial crisis low of around $46. The chart is insane! What will Saudi do next?

[newlifeinphilippines]

Rock is putting all his money in Asia. He has bank accounts in China, Philippines, Taiwan and maybe Thailand too. Rock, is there a reason you're doing this? Can you elaborate? Should we do the same?

Newlifeinthephilippines, so you're giving up your $25,000 a month online income for your religion? Yeah right. lol

yes. Its not the "amount" that was the problem it was the "way" and "means" of what I was doing to get it. Although making that amount of money was causing me to worship it too but that wasn't the real reason it was just what I was doing to get it. A christian can make a lot of money if he is humble and not covetious and uses some of it for good. But its not for "religion" its for Jesus who is helping me to overcome my nature.