Banking: Maximum WITHDRAWLS coming SOON!greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread |
I was listening to Michael Haga, he is an economist, on short wave this evening. He will be having his local Colorado congressman on this week (can't remember his name) to discuss the pending legislation for the 106th congress concerning the new banking law on maximum MONTHLY withdrawls. $500.00 cash will be the max allowed per month. We will still be able to pay bills and such by check, credit or debit cards, I hope. I wonder about the people who have no checking acounts and pay with money orders? Will it now be a felony to have more than $500.00 cash in your possesion at any given time? What will be the publics reaction be? IMHO the banking industry is very unstable at this time. When word gets out about this legislation, might this, in it self, cause a bank run? I do not know any particulars concerning these new laws other than the monthly amount and that it will be one of the very first items on the plate for the new congress. . I would suggest that if you do not own a short wave radio (preferably with single side band) you might want to consider getting one. As I find that the information from people like Michael Haga has allowed myself and family to be months ahead of the news. I found out about y2k in the early spring of 98 from Ed Yourdon, who is a frequent guest of Mr. Haga. I have been told I scare the daylight out of some people with the information I give that seems to be reported on weeks and sometimes months of it hitting the controlled media and the internet. Haga can be heard on SW on 3.215 m-f 1800-1900 and continuing on 5.070 m-f 1900-2000 eastern time. IMO his track record as an economist has been quite extrodinary. I have followed his broadcast for a year now and was able to get the wife out of her 401k at the very top of this summers (98) market, saving her quite a bit of money.
-- michael wright (localnet@ix.netcom.com), December 28, 1998
Michael,I think your point concerning the attempt at this legislation causing bank runs is valid...reminds me of what occurred in the weeks before Brady took effect - LOTS of firearms sales...
Arlin
-- Arlin H. Adams (ahadams@ix.netcom.com), December 28, 1998.
michael,If true, it all depends on how they float it. If properly presented as a temporary measure due to Y2k (oops, an admission that Y2k is very real, very serious), then it might get by, though the limit is laughably too low for many people. As a general, permanent policy -- highly unlikely.
In either event, counter-productive currency hoarding would begin as soon as this hits the wind, a black market would quickly spring, forcing many normally law-abiding citizens into criminal activity, and "mostly cash" transaction businesses would immediately see a surge in popularity, though small, discretionary purchases would begin to suffer.
Some work arounds:
Have accounts for your wife and each of your dependent children. Then have each withdraw the maximum each month. Load 'em all into the car the first Saturday of each month and head to the bank. Then barter your "excess" currency for other goods and services, probably at a discount.
Open mutliple bank accounts for the sole purpose of pulling extra currency, as needed.
Use your business/hobby to tap extra currency as needed.
Seek out people who use very little cash (e.g., retired parents) and have them deposit your personal check (this would appear to be a "gift" to them). Then, have them immediately withdraw the cash for you.
Buy your stuff at places that will allow you to write a check for more than the items purchased and who will give you the difference in cash.
In an emergency, take cash advances against a credit card.
If the Feds make all of the above illegal, it's time to find some other place to live.
-- Nathan (nospam@all.com), December 29, 1998.
Also see his books:After the Crash, Life in the New Great Depression
On the Brink : How to Survive the Coming Great Depression, 1993-2000
-RC
-- Runway Cat (runway_cat@hotmail.com), December 29, 1998.
So if you hear on the radio this makes it valid? Sorry if I'm not buying into this scenario. Sounds like another fear monger making a buck using his "valid" version of the truth. Think about the bottom line here for a minute. If everything does collapse do you truly believe that the bank police will come and search out each and every person who owes them money? There are not enough people in either the government or your banking firm to come and throw you out! This scenario is a fantasy, period. If the world truly collapses then you should be more worried about having food and heat. You will be in the same boat as everybody else, it kind of levels the playing field don't you think? Think this through to it's logical conclusion. No cash, no business's, no way to pay bills, no company making money, no payroll to disburse, nobody showing up for work, etc. It all stops, end of discussion.So I don't cash out my money market, my 401K, who cares? Nobody else does either. We have worthless pieces of paper to be used for lighting a fire to keep warm. It's all "funny money" anyway. You all act as if you are still going to retire in 20 years and have money to live on and the Y2k mess will just be a bad memory. You are not looking at the real bottom line here. Having wads of cash, gold, silver, etc. may or may not get you through power loss, food shortages, govt. control, and so forth. It won't.
If this sounds extreme then so be it. This is either all going to work or it is not. There is no safe middle ground on this issue. In 368 days we will all know the outcome.
later....
-- freelancer (freelancer@yahoo.com), December 29, 1998.
Gosh freelancer, your post reminded me of myself just a few weeks back when I first read about the FDIC's proposed "Know Your Customer" policy. I totally ignored it the first time I read it because "surely, it just could be true..." Just some more fear mongering right? Wrong. Dead wrong.We all know (or at least should know) that we can't believe everything we read on the Internet. A healthy skepticism out here is a good thing. But I'm still burning from the Know Your Customer news so I'm not going to say this couldn't possibly be true.
But I would like to see some more facts and verification here.
-- Arnie Rimmer (Arnie_Rimmer@usa.net), December 29, 1998.
Yes, the ramifications could be very interesting. In the current political and social climate that we live in, all of this seems very possible if not IMHO likely. My biggest fear is the reaction to this information. The y2k problem, I believe, will be an event that will soon not be forgotten, but the coming panic that will ensue as the powers that be unleash their cure will be the real problem making y2k a secondary issue until the lights go out. Something to think about. Back in the 1930's they took our gold and shipped it to the banking families in europe, leaving us with their fractional reserve banking system and worthless paper currency. What could they possibly be after this time? What does the banking establishments police force (irs) hate about our current system? Could it be our so called underground economy, and I am not talking illeagle drugs. You know the guy or gal, he fixes cars or lawn mowers, she watches children while the parents work, a little home improvement business that a retiree might use to supplement his social security or those little family businesses that they have almost put out of exsistence. They are always talking about their NWO and cashless society, are they not? I know that some of you might think these are unfounded thoughts. Are they? We live in very interesting times. Question? Do you trust our current government. Do you feel that they have our best interests in mind? Have they been honest at all times? Even on the most trivial matters? Do they uphold what is right? or moral? So think about it, there is more here than just y2k. Very interesting times, indeed.
-- Michael (localnet@ix.netcom.com), December 29, 1998.
Arrgg! The worst typos are the ones that completely reverse your intended meaning. The line from my post above should have read:I totally ignored it the first time I read it because "surely, it just could NOT be true..."
Sorry, Arnie
-- Arnie Rimmer (Arnie_Rimmer@usa.net), December 29, 1998.
"But I would like to see some more facts and verification here. " Agree with you there Arnie.There are things proposed in Congress all the time that never come to be. If this is real, then it will backlash on them harder than the Goverment could ever imagine. Like you though Arnie, I want a LOT more info before I pass judgement.
Rick
-- Rick Tansun (ricktansun@hotmail.com), December 29, 1998.
Mr. freelancer:Have you heard of a pyramidal structure? The model of government, armed forces, most businesses, churches (espec. the Vatican?)
The honcho makes a decree. The minions pass it down to the lowest ranks -- the clerk, the computer operator, the teller, the private or seaman, etc.
YOU try to buck that and see how far you get. The scum at the top don't have to worry about you individually. They've got the teller who will follow the rules of the edict for fear of losing her job, the supervisor (ditto), the branch manager (ditto), the bank V.P. (ditto), the bank president and the board of directors for fear of losing their job, their "franchise", even going to jail if they do not comply with the edict. They don't need an army of jackboots to check everyone; they only need a few to lop off any heads sticking up.
When are you political naifs going to get your heads out of your rectum, wake up, and face the fact that we live in a totalitarian country? Freedom is long gone. No less so because the iron fist is encased in a velvet glove, and we are (still) temporarily prosperous.
Your U.S. rulers are merely a bit more sophisticated and covert than someone like Sadaam.
Even you pollyana dolts who only watch TV news, just THINK about the political and business stories you see. They are all about control and screwing with someone .
-- A is A (A@smarterthanfreelancer.com), December 29, 1998.
We could, you know, call our congresspeople and simply ask about the the substance of this 'maybe rumor', couldn't we? Do you, Michael, have a number or name for the piece of legislation under discussion? If it is coming up early in the year, it will have both by now. It would help get more accurate information of what exactly is involved if we could ask someone at the reps office to please explain the content of bill/item xyz. Might even be able to track down a copy of the exact wording of what is being proposed.
-- Maria (encelia@mailexcite.com), December 29, 1998.
We're all missing the point here in my humble opinion. I don't care about the fractional reserve conspiracy, shipping gold to europe, secret masonic meetings, the CFR,the Trilateralist's,Know your customer, etc. I've heard all of that and looked at these issues. My point, which I am making poorly so please bear with me, is that if the lights go out, the infra-structure does go down,then all of us will have enough problems to deal with on a day to day basis. We will be very busy making sure we can eat, we have water, etc. and will not be worrying about the hooded figures riding out of the dark. These things can be dealt with by determined people. This could get ugly and as a participant in the SE Asia war games of the 60's and 70's I can tell you it will not be like anything you can imagine or have seen in the movies. I hope to god that none of this comes to pass in my lifetime or anybodys childrens lifetimes because it is TRULY UGLY and can and will scar you for life to put it politely.I follow what our "esteemed govt." does and I don't like a lot of what I see happening. I fight where I can make a difference and I will continue to do so. Yet what we must be aware of is the bottom line in each of these conflicts, i.e. where do I stop talking and start fighting? I stopped worrying about dying 29 years ago and started worrying about living and what kind of difference I could make in life. So I look at each "prophet" of doom or success, examine their motives, question their conclusions, mix in my experience and then decide what course of action to pursue. I may guess wrong but that's my fault.
My point was that each person should do what fits their perception of the severity of the Y2K situation and not be stampeded by the herd. When all is said and done that is all any of us can really do in the end. I really would like to grow old, sit in the sun, fish, and drive the young folks crazy with tales of my wild and adventurous youth!! :)
So keep the ideas coming and here's hoping your children, and grand-children don't curse us for our timidity or our lack of planning.
my .02 worth again :)
-- freelancer (freelancer@yahoo.com), December 29, 1998.
FREELANCER , Well said. A partisapant of the S.E.Asia games 68-69 . "it ain"t nothin" Mickey
-- Mickey (mickle2@aol.com), December 29, 1998.
Several of us can work on this research. Go to http://www.house.gov/ and then choose the [Thomas] section. In the spirit of THOMAS Jefferson, the Library of Congress provides you with searchable information about the U.S. Congress and the legislative process. Search bills, by topic , bill number, or title. Search through and read the text of the Congressional Record for the 104th and 105th Congress. Search and find committee reports by topic or committee name.You can choose the search engine at http://thomas.loc.gov/cp105/ cp105query.html#keyword and see what you dig up. My keyword seach terms for starters are banking and limit which pulled up several search results at http:// rs9.loc.gov/cgi-bin/cpquery.
One interesting one will require more reading: EXAMINATION PARITY AND YEAR 2000 READINESS FOR FINANCIAL INSTITUTIONS ACT House Rpt.105-417.
Its a treasure hunt.
Diane
-- Diane J. Squire (sacredspaces@yahoo.com), December 29, 1998.
'Tis time to review the words of wisdom given to us by Ben Franklin:"There is scarce a king in a hundred who would not, if he could, follow the example of Pharaoh, get first the peoples' money, then all their lands and then make them and their children servants forever."
-- WAAHOO (bobb@mtjeff.com), December 29, 1998.
'Tis time to review the words of wisdom given to us by Ben Franklin:"There is scarce a king in a hundred who would not, if he could, follow the example of Pharaoh, get first the peoples' money, then all their lands and then make them and their children servants forever."
-- WAAHOO (bobb@mtjeff.com), December 29, 1998.
My point exactly! Franklin hit the nail on the head. We must look at the big picture. There is more to what is going on than just y2k, IMHO.
I think we can all agree that the government has been extremly slow in saying anything about anything, other than of course clintooon's sexual deviance. Why?
You can poo poo the NWO notions all you want. The fact is we are greatly affected by this group of internationalists (Communists). If I need to explain why, you had all better get your head out of the sand, unstop your ears and wipe out your eyes!
Our nation is in serious trouble here and not just from y2k. Look at what the internationalists are saying and doing behind the scenes. Do any of you trust this group? Would you trust any of them to "do the right thing"? Do you trust them and their lawyers with y2k? Where is the evidence if you do? Could there be a bigger agenda?
Let's say they knew about y2k years in advance, could that be a possibility? I think we can all agree there is an agenda to form a one world government, court system, and world police force. Could the coming months leading up to 2000 be used to create a panic for another agenda? I know , what does it matter, how could they do it if the infastructure is collapsed? What is the benefit to them? Good question. How about population reduction? Is this not part of the NWO agenda? Which nation on this planet could possibly defeat this group of internationalists? Which nation (the only prominant nation left) that still has an armed citizenry? Who do you think they fear more?
Why have we been labeled TERRORISTS? What! US! You must be one of those kooks Rush talks about! (I don't have the articles I am refering to in front of me, but you can find them at World Net Daily and Free Republics web sites and also on other wire services like AP,UPI and reuters.)
Did you know that any one who is concerned about y2k, stores food, sells their property and moves to rural areas, purchases survival supplies, goes to preparedness expos, believes in the constitution, supports the 2nd amendment, Cristian, and the list just keeps growing. We are now the knew domestic TERRORISTS. Not my writing folks, look it up.
I can hear the cat calls and name calling already. This is not the place for this garbage you say, not here, not ever! You may feel that I have lost my grasp of reality? Have I? Why all of the talk about DOMESTIC TERRORISM as of late? Bin Ladin? Are they trying to scare us or put us into a deeper sleep? Why are we not having civil defence drills if this is such a problem, do they care so much about us? Why no y2k warnings like in Canada or England? Why have the new banking laws been kept so hush hush, they talk about it openly in the afore mentioned countries, why not here? Why have we been labeled DOMESTIC TERRORISTS?
Well how does this fit into an agenda of population reduction? Let us look at some recent examples of reduction. Randy Weaver comes to mind. Now, you may say that he deserved what he got? Who was he? He was just like alot of you reading this right now. Oh sure, you might not agree with his religous beliefs, but was this any reason for the government to do what they did? What were his crimes against humanity (government)? He sold his city home and moved to the country, he homed scooled his kids, he provided for his family witout the assitance of the government. They labeled him a White Sepratist, a dealer in illeagal firearms (a shotgun that was 1/8 of an inch to short that was sold to a neighbor) among other things. All charges against the Weaver family were dropped and they were awarded a substansial amount of money. That did not however bring back his 13 yo son Sam (shot in the back) or his wife Viki (shot in the head by a sniper while she stood in their cabin doorway to see what the comotion was) Think about it. The same government that did this has now labeled you and me, DOMESTIC TERRORISTS. Randy Weaver did just like alot of us would like to do, or have done, did he not?
Then there is the Branch Davidians. They deserved it too, did they not? If you have not seen WACO: The Rules of Engagement, FIND IT! I have this tape, it is footage from the fbi and atf. It is a documentory and was nominated for an academy award. It will open your eyes if not make you vomit. You can purchase the uncut version through Republic Radio International for around $20. Their phone number: (616)966-3002
These are just two events that have happened in the past few years. Remember what they had in common, they were TERRORISTS! Just as you and I have been labeled.
So what are the feds up to now? This you will have to research on your own. The fbi has formed a Multi Jurisdictional Task Force (MJTF) in the northwest U.S. to stop the Millenial Terrorist Groups who seek to over throw the government. Not my words folks, theirs. See Gary North's site, go to government, Dec 23. Follow link to usa today story. Sorry I don't have link.
Now we know how they react to "TERRORISTS" don't we? Could all of the so called "rumors" of martial law and concentration camps be real? That is something you will have to decide for yourself!
Might a banking and y2k crisis be just what the doctor ordered? Think about it. Would clintooon and the powers that be consider such a thing? Do they really care? If so, what is the evidence? Would they inplament the u.n.'s population reduction policy?
What is the point? Am I just another scare monger? So, if all of this happens were done for anyway, right? WRONG! We are still AMERICANS! We have a long ancestorial history of being the best and the brightest. We are not the destroyers that are revised history books and controlled media make us out to be! Let the brain washing end now! We are the most compassionate people on this planet. You may say lie, lies, all lies! Look at how we treat people, look at our once beautiful and safe cities. Yea, look at them, who did this? Our government did, and we let them do it! Is this how we really are! NO! Think about it, which country runs to the rescue when disaster hits, who is more charitable in giving? Can anyone tell who tops us in compassion, and I am not speaking of our government, who mearly give lip service in their phony compassion. I am talking about us, you and me. We are America! We may not be able to stop y2k, but we can stop an out of control government! If we know what they are up to we can stop it! Inform people, educate yourselfs, friends and family. Look at the Executive Orders, pick up a short wave radio. "WAKE UP AMERICA"! It's real simple, the best offence is a good defence. People, we must mentally and physically prepare, that includes spiritually. I feel that y2k will be a bump in the road compared to their real plans. I hope I am wrong about all of this, but the evidence suggests otherwise. God Bless us all.
-- Michael (localnet@ix.netcom.com), December 29, 1998.
Ooops, Wrong room. I was looking for the one without the rubber padding. Anyone who is giving this question/post actual thought, your family has my deepest sympathy.
-- Jimmy Bagga Doughnuts (jim1bets@worldnet.att.net), December 29, 1998.
Bagga nuts, Don't be to quick to write off Michaels message. Many have been studying this government thing for years, (myself since '75) and we know what is happening and what will happen. Y2k may be the downfall of this system (financial slavery) and it would be fitting that the bug for its destruction was written into itself. (Rev 18:9 KJV) "And the kings (and wealthy) of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning," (Rev 18:10 KJV) "Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come." (Rev 18:11 KJV) "And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:" This system goes down "in one hour" or real fast. "Like a millstone in the deep blue sea" "That great city Babylon", is the symbolic name for the Financial System which has enslaved us. Interesting that we have been attacking Iraq=Babylon for some time now. This system stems from Babylon and it will end. After all the turmoil...PEACE.
-- Mark Hillyard (foster@inreach.com), December 30, 1998.
Careful about opening multiple bank accounts all at once. If you take money from one large account and move it to a multiple of smaller accounts, this is considered Restructuring by the feds, and is a violation of law, allowing the guv to confiscate all your accounts. Glenna
-- Glenna Kamoroff (kamoroff@snotmail.com), December 30, 1998.
Come on now, the misinformation is spreading fast here. Glenna, care to offer proof of your statement here? Current law requires banks to track transactions above a certain amount, they don't stop you from making the transactions and they most certainly cannot confiscate your account unless you are doing something to conceal other illegal activities.
-- Buddy (DC) (buddy@bellatlantic.net), December 30, 1998.