"If you don't hold it... you don't own it!" Applies not just to precious metals, but now (and... really?... it's been this way for more than a few years, it just hasn't dawned on folks)
cash as well.
Re: Ignorant Depositors
Posted: Sun Apr 12, 2015 12:27 pm
by 68Camaro
Was just walking my wife through this last night. Smart lady of course and after some discussions with me and being generally aware of the state of the country she has learned the main issues, but she's wired differently than me and would prefer to leave most of the worrying about this stuff up to me. But there are a few basic principles that she MUST internalize, and this one of those. I reminded her that it turns out when you read the fine print that a bank deposit is nothing but a loan to the bank. The bank statements make us believe the money we've deposited is ours and instantly available, but actually it isn't ours. For "reasonable" sized withdrawals they attempt to respond quickly with a repayment of part of our loan to them, but for larger withdrawals they can require us to come back later. Further and more importantly if the bank collapses then we are simply a creditor, and not one that is first in line but actually very near the end. Our odds of being paid back in that case are nearly zero. "But", she says, "it's insured by the government." As soon as she said this a deer in the headlights look came over her face (because she knows this but hadn't processed it until now) and I nodded, "Yes," I said, "the same government that is broke and the largest creditor in history itself is going to pay us back. Not."
Re: Ignorant Depositors
Posted: Sun Apr 12, 2015 7:40 pm
by johnbrickner
Well said, gentlemen. Nothing more need be added from my end.
Re: Ignorant Depositors
Posted: Sun Apr 12, 2015 10:07 pm
by neilgin1
I have my own bank.....brothers, words cant convey how broken hearted I am , in the direction not only leadership is taking us, but also this pussified stance most of our fellow citizens have taken, they don't know nothing, they don't want to know anything...that's why I put all those videos from scg up in the 'doom porn' post. my regret is that I am 55, and not 35, hale and hearty...I could lead, or educate, but all the young bucks around here, whom i'm fond of ?.....Friday paycheck comes, and goes right to Budweiser, which is their right....poor kids, they just been empire molded.
Went to Bank of America today and asked them to order me some deposit slips lady says ok that will be $28.00 I almost went crazy, Told her no F n way I am going to pay to deposit money in the bank, she then says oh sorry I hit the wrong thing deposit slips are free!!
So what exactly are they saying here? Are they trying to encourage you to deposit the cash in their bank accounts? Are they saying they can confiscate it if they discover cash in your safe deposit box? I wonder how long it will be before other banks follow suit...
So what exactly are they saying here? Are they trying to encourage you to deposit the cash in their bank accounts? Are they saying they can confiscate it if they discover cash in your safe deposit box? I wonder how long it will be before other banks follow suit...
Steve, for the life of me, I cant figure out HOW they intend on LOOKING into the box.....not that I would do ANY business with the "banks" indicated......I love my credit union, its always nice to be able to see and know tellers and loan officers PERSONALLY....and they are good people, we're all local, but in a larger populated area, some folks don't have that "luxury".....like KNOWING your County Sheriff as well, and KNOWING he holds to the Constitution.
back to the "boxes"...even my beloved credit union, I wouldn't rent a box...God forbid anything BIG happens, they will be forced to close their doors too....well then, how in the heck do I get into the box?!?
another topic (forgive me, i'm on a roll)....boy o boy, things are bad for the Dems, when all they can come up with is Hilary?.....lol....man! that parties in trouble, big time....the Republicans got everyone lining up to run......I say this, Rand is not his father, who I greatly admire....I DO like Ben Carson, and not "just coz" he's a black, but he's smart....but I don't think they'll let him get the nod...who knows?......I liked him after I saw this....this speech he did RIGHT in Obama's face!.....and it wasn't a crude speech...quite the opposite....here's a man, born into dire poverty, got REAL education, performed the first operation on cojoined at the head , twins......you got to have knowledge and balls to do that...to me, that's the stuff, LEADERS are made of
Posted: Sun Apr 12, 2015 9:33 am
