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Saudi King Abdullah publicly endorses Egypt's Mubarak!!
WTF is going on. It's as if they want people to riot...
Seems so much occurring now puts emphasis on "by design"
"Most Americans will believe almost anything if it's said with a British accent."
Truer words were never spoken.
And as a corollary to this excellent post, please take five minutes to view this invaluable vid talk between Max Keiser and Damon Vrabel. Must viewing.
Thanks so much for the link! This needs to be watched by all here at ZH.
I watch all of the Max Keiser shows and had forgotten how timely this episode of "On The Edge" was and how appropriate the ideas were. There are some decent moral people left in the world that know full well what is happening with the Oligarchy that controls our lives. Material like this needs to be viewed by all concerned persons and spread through the world.
It could very well be that he wants to die.
They're all finished. So is the USSA. It's just a matter of time until we all look down and see that there's nothing but air below us.
Century 8 Quatrain 28
The copies of gold and silver inflated,which after the theft were thrown into the lake,at the discovery that all is exhausted and dissipated by the debt.All scrips and bonds will be wiped out.
Listen up !
I just went to the bank to pull some cash (2K)
and the teller said that do to a system wide computer problem I could only take out 500 in cash because they cant see anyones accounts through their system @ the bank.
Went right home and was able to log onto my account online. ???????????????????????
Question is has anyone else had this problem ??
This was Harris Bank in the midwest.
The ironic thing was that I was talking to my wife about this exact thing this morning.
Can someone verify this is only at Harris bank midwest !
I have had increasing difficulty doing cash withdrawals from several local banks...including the big ones Bank of America, HSBC, Wells Fargo, and Chase.
These problems stem from limited amounts of actual currency in the branches.
It appears to me that if you go to the teller window and attempt to withdraw more than $1000 in cash, they dilly-dally around, complain about how they don't have enough in their teller tray, and then go get a manager's approval.
I have seen this problem in many different branches at many different banks. I have been discussing this problem with friends for TWO YEARS NOW.
Recently (last 3 weeks) we noted that the $100 USD bills were recycled issues from 10+ years ago.
I believe that there is literally insufficient currency to support the withdraw demands every two weeks on pay day.
My two banks are not as big a problem, but I have seen similar hemming and hawwing. B of A told me that they need a manager's approval before letting me have $3000 OF MY MONEY in cash. That amount, I believe, is also the amount that triggers the note to the IRS.
I am glad I have front-run the herd to gold.
Withdrawing $5,000.00 cash of your own money is what actually causes the bank to have to report it. They could report anything they deem "suspicious," but it is not necessary to do so.
I heard it was $10K.
You are correct.
They did screw up that batch of new 100's with all the gold and graphics all over them. Could be the problem. But it doesn't mean it won't be the snowflake that starts the avalanche.
That "batch" was *only* 1 billion $100 bills.
I like how a billion is just completely insignificant these days. It's like the change you leave for the waitress, after she serves you coffee.
Yeah, but who knows how many other batches they didn't print afterwards because they are trying to fix the problem and how many older presses they decommed for the new bills? Just a theory. I am not invested in it.
A small crease in the new banknotes. This is absolutely rediculous. To say the most highly skilled printers in the world, who spent their entire careers working with ink and paper somehow completed 50 million sheets of $100 notes that had problems, significantly problematic, just can't happen.
If there is a problem with a run, you don't continue to print truckloads of sheets before you say, OH SHIT we got a problem.
* replacement notes have been used for more than half a century to " replace " both individual ruined notes and sheets.
The real problem as I see it is that those 100 billion notes have been printed and 1: shipped out of the country to replace old notes that were in the vaults of despots and political hacks overseas to ligitimatise their "stash" or 2: The new $100 is not a FRN at all but a new United States Banknote.
Problems with getting actual cash from banks is quite simple. Its a form of currency control protecting the banking system from collapse. Actual printed dollars are leveraged hundred of times into the digital money. Banks can only exist by starving depositors of actual paper dollars. If 1% of depositors in a bank demand their money the bank dies immediately. This is why gold and silver are manipulated.
If the gov't starves the people of real paper money then the people can't buy gold or silver: real wealth. This in turn would negate the all encompassing hold the bankers have on the people.
Digital money = complete control of the lives of everyone on earth.
If you don't have the balls to get out and do something physical about the loss of your rights then just do the next best thing and withdraw 10% of your digital money from the system and buy some protection in gold or silver.
...could just be the fear of bank robbers. Anyone seen stats on the increase in bank robberies nationwide ?? I haven't either, but I'll bet there is a close tie to the unemployment numbers.
I went into my bank the other day to withdraw some funds and it took them 10 minutes to come up with enough 100's.. funny thing is, it was only just over 2k as well. They basically said that they didn't have the cash on hand in large bills and they didn't get their daily infusion of cash. I thought this was very strange.. for only two thousand dollars. M&T Bank.
Same here in Ca.(WF) Manager's approval for withdrawing 2500$.
I had trouble last month making online puchases with my debit card. It was deactivated without my knowledge by Wells Fargo/Wachovia. I'd had an account with Wachovia for 15 years.
I called them up and said what gives? They said it was a "fraud unit" red flag action for my "protection"
I told them it was OK and never mind, it was just me.
They said, no, I'd have to call in each time I wanted to make a purchase over $300. I told them WTF? I need permission to each time to access my own money?
I told them it was my money and I'm taking it all out if they didn't stop --PRONTO!
They did, but they didn't want to. The account is closed now anyway. Enough of that.
Holy shit THE EXACT same thing happened to me but it was Chase. Mine was a checking account, was yours? I wonder if they are desperately trying to keep those core deposits in the bank - they may be more on the brink than we think they are. I smell desperation and a big-time fucking in the making.
Time to take it all out and put it in the safe in my house.
Your difficulty is most likely just a regional thing, altho it could be bank policy to only keep so much in cash reserves as some of the other posters have noted. Here in Nevada, probably because of the casino cash flow, there's usually no problem with obtaining immediate cash. Just to be on the safe side, however, we always call ahead or stop in and speak to the branch mgr or chief teller to let them know we want to make a sizable cash withdrawal on such and such a date. So far five figure withdrawals here haven't been a problem.
Branch Banks are pretty much like any other retail outlets like a donut shop. Donut shops carry donuts as their product, banks carry cash as their product. Their inventory is controlled by expectations of demand. If a donut shop has some forewarning that a group is going to come in and buy 100 dozen donuts they will prepare for it. If a bank knows someone is going to make a "large" withdrawal, they will also prepare for it.
Banks set their own internal procedures to control cash withdrawal expectations. They dare not run out of cash for other customers due to an unexpected lump sum withdrawal. Once that occurs there would possibly be a bank run as the perception people would get is that it is unstable.
$10,000 is the amount that banks were reequired to report initially but these days I think it's dropped down to $5,000 for cash withdrawals and $10,000 for deposits. Sine my cash deposits may exceed $10,000 from one day to the next the bank has made me exempt for corporate deposits. Personal transactions still are a pain in the ass.
If I plan to make a large withdrawal, exceeding the banks internal limits of about $2,000 per customer, I'll call a few days ahead of time and let them know of the amount and the day I plan to come for the cash. That allows them to pull currency from their central bank and have it available without impeding their other customers.
Actual withdrawal of large cash sums is usually done somewhere other than the public lobby, usually off to the side or in another room. A guard, if available, will usually accompany you to your car without a problem.
Just be polite, most of the girls behind the counter are as ignorant of the whole process as anyone else. They are merely following the prompts that pop up on their screens. Uusally they are pretty awed that someone can pull cash like that and get away with it.
Even more fun is going to a car dealership and going through all the shoping and having the salesman pump up everything to the point of financing where all the costs start popping out. And then pulling out a wad of cash and blowing all the additional costs away along with the stunned look of the financing creature it the backroom.
If you haven't gone through the process of large cash transactions at banks you are asked for ID, your occupation and the source of the cash. You may anser however you want. I usually tell them my occupation is "Porn Fluffer" and the source of the money is "My Bank Account". They are REQUIRED to accept your answer, even if they don't like it. All they are doing is making out a report to the Secret Service/FBI. They, if they feel the need, will come and ask further questions.
So far, over the years since the invasive questioning regarding one's own money, my anwers have resulted in nothing but personal amusement. If investigation's are run, I have no questionable transactions that could possibly raise a flag.
Me too, I have been removing as much cash as possible from Wachovia ( Florida) in amounts under the 5k & 10k flags and every single time I try to take more than 2k the tellers go into to their 'I need to get a managers approval' routine.
They always give it up after they go through their let us help you invest it speech. I did a very large wire transfer to a bullion dealer and the silly twit of an asst. manager kept up the 'let us help you invest speech' the whole time she was filling out the wire forms and still couldn't understand my last question to her- which was do you really think I need your financial advice considering the transaction you are now processing?? It had the words 'precious metal' in the name of the recipient and she still couldn't get her head around that.
done with them all :)
You can ask your bank for financial advise (but don't take it) ;)
Think of it this way. Banks are notorious for their low pay scales, right? So what does that tell you about a bank employee's talent for shrewd financial decisions?
Limit at a local credit union is now $2K unless one gives them notice 3 days in advance of withdrawal.
That is down from $5K about a year ago.
3rd national in mo. shit a brick when i tried to cash a check for a little over $5k. sent me 70 miles down the road to the bank the check came from (and they own 3rd national).
absurd. get it all out now! starve the beast!
Same thing happened to me at Bank of the West in CA. I tried to withdraw $3,000 at one branch only to be told I had to go to another branch. I did. They then told me I couldn't withdraw such a large amount because that branch didn't have enough cash on hand to do so. I eventually talked to the manager and she agreed to give me my money. But they didn't have enough $100's!!! I walked out of there with $2,000 in $20 notes. It was ridiculous.
The riots in Egypt have expanded and are spreading throughout the Middle East, should this erupt in Saudi Arabia it is a safe bet that oil prices will skyrocket. This rioting has occurred on cue with Gold's very oversold (the deepest in nearly a year) and is serving as catalyst for the reversal.
The big drop in Gold and Silver prices were not accompanied by lows in the shares which shows the bottom is now in. If this turns out to be so, the lows for the year will not ever see the "$1,200/oz." handle again.
There have had many similar corrections far deeper than this one... very severe corrections in May/July of 2002 where the HUI dropped from 150 to 100 for a 33% hit....others in 2003 and '04 and an extended (time wise) correction in 2005. Then the winter/spring of 2006 when the shares exploded only to see another May/June smash that took 30%+ off within a month. Of course the biggest hit came in Sept./Nov. 2008 where the HUI dropped from roughly the high 400's down to 150-160 for a 60-70% collapse.
This current correction has been of garden variety at best, yet the sentiment is so negative AFTER 10 years of gains. It really should not be this way yet it is... anyone calling Gold in bubble territory is simply trying to grab headlines and invent fear. There is still very little long held bullishness as traders have yet again "cut and run".
The fundamentals are now such that only those with a financial death wish or otherwise illiterate do not own physical Gold, Silver or the shares, plain and simple. The "peasants" are beginning to riot and governments are on the verge of bankruptcies which will submarine a whole slew of fiat currencies in the process. Gold cannot default and will only attract more fear capital as time goes on which is why it is a must have, NOW!
Maybe the bottom is not in, time will tell. My reason for writing this piece is to try to reassure anyone with weak knees because now is the absolute worst time to consider throwing in the towel. We have fought for more than 10 years in a rigged market and have won substantial "fiat booty", the Golden ring is just out ahead of us. Make sure you are one of the few with a firm grasp on it!
Keep Le Met coming DavidP, I do not subscribe and appreciate ALL knowledgeable sources on gold.
Thanks for sharing.
Bill Murphy yesterday...
"Veteran Café members will recall me moaning for months and months last year how lousy The Café Sentiment Indicator (a gauge of interest based on paying memberships, new trials, and hits on the site) was. Well, something is going on out there because the past few days it has catapulted to a 9 (1 being the worst and 10 the best). It’s been on fire on a sharp DIP in the gold and silver prices. That has not ever happened in 12 years. Most pleasantly surprised, I mentioned it to a colleague who thought it might be because The Gold Cartel made this recent take down so ridiculous, people wanted to find out what was really going on. Got me smiling anyway."
... maybe more and more ZH readers finally going to THE SOURCE for honest information.
Two week FREE, no obligation, get acquainted membership...
If there is a major 'structural disruption' in Saudi Arabia, we'll be in an economic depression faster than The Bernank can say "I'm 100% confident I have the tools to effectively combat this," with a cracking voice projected through quivering lips and nervous, flinching facial twitches.
This is NOT circa-1979 America, which still had a meaty and vibrant manufacturing base, relatively low debt levels, and far fewer stuctural issues of today (thanks, in part, to people like Greenspan and Bernanke).
And beside, what will he do? Lower the overnight Fed Funds Rate?? Buy more treasuries from the Squid and other PDs? Buy more MBS?
He's on warp drive already.
Way to leave yourself some tools (not), Ben!
Bad news peaches. It's not just manufacturing. America is a net importer of food. Thanks to dumbass synthehol.
"The United States claims to hold almost 8,200 tonnes of gold. But has any of that gold been swapped with other central banks through the gold swap arrangements Fed Governor Warsh disclosed in his letter denying GATA's request for access to the Fed's gold documents? The Fed won't be answering that question voluntarily. It will be answered only at the order of the federal court in which GATA is suing the Fed, or at the direction of Representative Paul's subcommittee."
subcommitttee - please make that order if you have the power
"an "orderly" rise, 15-20 percent or so per year, a rise carefully modulated by surreptitious central bank intervention."
amazing. with all the manipulation, lies and deception, the bottom line is that PMs are still rising substantially. just wait til the anchor of manipulation is cut
Your work is paying off. I came to knowledge of gold late, in 2007 when sub-prime (& CDSs) broke. GATA and numerous other voices of sanity were there with breadcrumbs for me to follow. I bought into the message, am now debt free, have a couple of years expenses stocked away in bullion, and am able at this point to sit on substaintial gains and just munch popcorn while watching all of the histrionics. I've bought a lot of bullion in the last 4+ years, and have yet to sell an ounce. (I've given some away, in my own little campaign to spread the disease, but I've never yet sold).
I may one day sell some, when I think we're near or above actual value. At $1,400 and $30, we haven't even started to price bullion properly.
Thanks again for your efforts, they have helped immensely.
I'm on the other side of your trade. I'm borrowing a massive amount and have no equity in my home. I managed to qualify for a 1 month LIBOR loan. Although I can pay off my house, I prefer to have most of that equity in physical gold.
worried about ur currency or the state of ur society???
now worries, the politicians got it figured out...
"It may sound like a bird-brained idea, but the mayor of Lancaster wants to brighten up the Mojave Desert city by broadcasting recorded bird songs.
R. Rex Parris proposed the idea during his State of the City talk on Monday.
The Antelope Valley Press says Parris wants to play the bird chatter from loudspeakers on Lancaster Boulevard. The mayor says there’s science to show that listening to birdsong makes people happier."
LOL! I added that to my fb page! :)
kudos to GATA for its professional, almost excessive use of objective and undeniable proof of its claims and statements. in this day and age that is rare. many, even so-called experts make claims without citation or support or links or back-up
Mish says we're full of shit. Very sad. I've tried my best to spread the truth.
great read i didnt go to all the links. or id be here all night.
gotta ask myself tho wont we run out out of folding before they run out of ink?
oh and i bookmarked and emailed to a few people. this one has to go viral
"since central bank intervention in the currency, bond, equities, and commodity markets has exploded over the last few years, we don’t really know what the market price of anything is anymore"
and because we don't know the market price of anything anymore we are unable to make intelligent investment decisions - do I buy rental real estate? do I invest in the equity markets? do I buy bonds?
since none of those questions can be answered, the only safe path is to take physical possession of the only true and honest money (silver and gold) and wait for the next incarnation of the economic system
there is no way to know what the next economic incarnation will look like but there are numerous signs that the current incarnation is nearing its end-point - study Kondratieff Winter, Fourth Turning and financial bubbles for some insight
will central bankers raise interest rates into the double-digits ala Volker in the 1980's? in that environment it might make sense to buy govt bonds paying 15% or more - in that environment real estate prices will crash so purchasing rental real estate for cash might make sense
will central bankers fix their fiat currencies against the value of gold? the fixed price of gold would likely be somewhere between $5000/oz and $55,000/oz - Jim Sinclair suggests that gold isn't going to peak and then decline like it did in the 1980's because central banks will fix the value of gold at some high price - in that environment all asset categories will be re-priced relative to the fixed value of gold and we'll have to wait for the re-pricing to make intelligent investment decisions
so many different ways that the current situation might resolve - there is no way for us to know at this point so again, all we can do is take physical delivery of silver and gold and wait ...
in a fiat FX regime, no fixed price can be maintained.
"in a fiat FX regime, no fixed price can be maintained"
I agree - my main point is that the price of gold may not decline dramatically from whatever value it ultimately reaches - I think some people are expecting a parabolic finish to the current precious metals bull market and that after the peak is reached, gold will enter another secular (15-20 years) decline like it did from 1981 to 1999 - it is possible that gold will reach some high value and stay there - as an investor, this is an important factor to consider - if gold stays at a high price it might make sense to keep some portion of your wealth in gold - if gold goes parabolic and declines, it would make sense to transfer wealth out of gold and into other asset categories
the central bankers are going to take any number of fallback positions as the global economy continues its collapse - the first step (which they are already discussing) will be another worthless fiat currency but they will choose a global institution (IMF or BIS?) to issue the worthless fiat - SDRs via the IMF are already being discussed to replace the US dollar as reserve currency
another fallback position will be a fiat currency tied to some basket of commodities which will likely include gold and petroleum - this fallback position is likely to appease many uninformed people because they will THINK that fiat currency is now tied to tangible goods - they will be sadly mistaken because central bankers will still be able to play all of the same games they are currently playing - as you point out, no fixed price can be maintained and monetary debasement by the central banks will continue even though the fiat currency is tied to a basket of goods
the only honest monetary system IMO is having a fully convertible currency in circulation - the circulating currency has to be convertible to some tangible good - the tangible good can be gold, silver, calories of food, bedpans or pretty beads - it doesn't really matter as long as the majority of humans on this planet agree that the tangible good has real value - history has shown that gold is the tangible good that most humans accept as having value - in a convertible monetary system, it is the CHOICE to hold the circulating currency OR CONVERT IT to the tangible good, which gives the people control over the central banks - when the banks are behaving the people will leave their wealth in the circulating currency - when the banks start playing games the people will transfer out of the circulating currency and into the tangible good
Blogger "Flow Of Value" tackles this point. This is an excellent read and I highly encourage everyone to read it:
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