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US Banks Stuffing ATMs With 20-30% More Cash In Case Of Panicked Withdrawals

Tyler Durden's picture




 

Even as the fearmongering over the debt ceiling hits proportions not seen since 2011 (when it was the precipitous drop in the market that catalyzed a resolution in the final minutes, and when four consecutive 400 point up and down DJIA days cemented the deal - a scenario that may be repeated again), some banks are taking things more seriously, and being well-aware that when it comes to banks, any initial panic merely perpetuates more panic, have taken some radical steps. The FT reports that "two of the country’s 10 biggest banks said they were putting into place a “playbook” used in August 2011 when the government last came close to breaching the debt ceiling. One senior executive said his bank was delivering 20-30 per cent more cash than usual in case panicked customers tried to withdraw funds en masse. Banks are also holding daily emergency meetings to discuss other steps, including possible free overdrafts for customers reliant on social security payments from the government."

The problem with bank runs is that often times, steps taken to mitigate future panics become self-fulfilling prophecies.

Hopefully this is not one of those cases. Then again, since increasingly fewer Americans actually have money in deposit and savings accounts with banks, there is likely nothing to worry about.

h/t Gaganpreet

 

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Thu, 10/03/2013 - 18:32 | 4020624 VD
VD's picture

you'd think they'd stuff less, just to make sure Cypress in the USSA is all too real and for the sheeple to fall in line right quick. 

Thu, 10/03/2013 - 18:40 | 4020663 Zer0head
Zer0head's picture

panic begats panic

 

as ordered by the federal reserve as ordered by the WH

jump you fuckers jump

 

Thu, 10/03/2013 - 18:57 | 4020673 Skateboarder
Skateboarder's picture

Rank buns result in bank runs.

p.s. cash will be kindling if things go weimar. Long metals, necessities, and supplies. Welcome to Barterville, formerly known as Earth.

Thu, 10/03/2013 - 18:58 | 4020746 bank guy in Brussels
bank guy in Brussels's picture

What the American oligarchs are really salivating at, the final 'fix', is

Seizing that US $ 19 trillion of pension & 401k funds etc in America

Grabbing that and the bank accounts will be their final big play, 'for the security & protection of all US citizens' of course

Just like in Poland and Cyprus

'Today Poland, tomorrow the world !' as Adolf Shicklgrüber Hitler said

Thu, 10/03/2013 - 19:02 | 4020765 Chupacabra-322
Chupacabra-322's picture

"Grabbing that and the bank accounts will be their final big play, 'for the security & protection of all US citizens' of course"

What makes you think the Criminals haven't stolen it already?

Thu, 10/03/2013 - 19:36 | 4020895 12ToothAssassin
12ToothAssassin's picture

Its not a prob,em when you dont have your cash in the banks...

Thu, 10/03/2013 - 23:19 | 4021365 ghengis86
ghengis86's picture

Actually, it still is if you hold FRNs. That's the beauty if it all; I can devalue all the FRNs, even the ones under your mattress!! If its hard assets you hold, fine, I'll grant you that. But one attribute of the FRN our masters love is that they can force you to spend your mattress money by inflating its value away. Serious. It's like John Maybards Keynes thesis or some shit.

Thu, 10/03/2013 - 23:40 | 4021420 Abi Normal
Abi Normal's picture

If you still have your $$$ in banks, roflmao at ya!  That was a 5 year ago decision.

Thu, 10/03/2013 - 23:59 | 4021457 BLOTTO
BLOTTO's picture

Whats the use when the majority of the masses have hardly anything saved?

.

Better to just load extra ribbon to print NSF on the reciept.

Fri, 10/04/2013 - 00:32 | 4021506 flacon
flacon's picture

When do the new $100 bills come out? Oh yeah... THIS MONTH. What a coincidence - nobody could have seen it coming - it wasn't planned that way either. 

Fri, 10/04/2013 - 01:57 | 4021606 fourchan
fourchan's picture

its only paper. 

Fri, 10/04/2013 - 03:13 | 4021661 Oh regional Indian
Oh regional Indian's picture

Perhaps the great american take-down is in progress. 18-19th october is a key date for some reason. And all things considered, I have to say that India, with all it's dysfunction, is in far better shape.

Perhaps because we have a much smaller fall and given the size, diversity and population, a herculean task for monitering said nation.....

But the picture in the link below speaks louder than any words...

;-)

 

Stay grounded fellow zh'ers, the wheat and chaff are at seperation point me-thinks...

ori

http://aadivaahan.wordpress.com/2013/10/04/the-spirit-of-india-in-one-picture/

Fri, 10/04/2013 - 05:41 | 4021704 tocointhephrase
tocointhephrase's picture

Off topic...Worth a punt...http://www.theguardian.com/business/2013/oct/02/albemarle-bond-rescue-talks-rights-issue

To quote the article "The reason for A&B's problems is simple. It has been battered by the falling price of gold on international markets. The drop in the gold price – more than 20% this year – has hammered the company's finances as the value of assets on its books has fallen."

Edit...I declare an interest 

Thu, 10/03/2013 - 19:09 | 4020775 Supernova Born
Supernova Born's picture

The realization of the magnitude of the 100 year fraud of the Fed will hit like a asteroid.

Extra FRN in ATMs will do as much good as stocking staterooms on the Titanic with extra rolls of TP.

Thu, 10/03/2013 - 19:13 | 4020811 Pure Evil
Pure Evil's picture

Ya know, there's nothing like going to the bottom of the ocean with that clean fresh feeling between the cheeks.

Thu, 10/03/2013 - 19:41 | 4020906 malikai
malikai's picture

Nothing like having some extra 30 grit paper to accompany you to the bottom.

Thu, 10/03/2013 - 23:02 | 4021313 The Big Ching-aso
The Big Ching-aso's picture

To keep most people these days from panicking they ought to just credit their zero bank accounts with $20 to $30.

Thu, 10/03/2013 - 23:05 | 4021320 Serenity Now
Serenity Now's picture

This comment made my day.  I could not stop laughing. 

Fri, 10/04/2013 - 02:09 | 4021614 imbtween
imbtween's picture

who among the PM stackers here will be broke when TSHTF this weekend?

Thu, 10/03/2013 - 19:14 | 4020817 CheapBastard
CheapBastard's picture

The 401s and mortgage interest deductions will be the first to be taxed or curbed from what I read. They are easy pickings...low fruit if you will.

Thu, 10/03/2013 - 19:47 | 4020919 August
August's picture

>>>Adolf Shicklgrüber...

Ein Umlaut ist nicht erforderlich

Thu, 10/03/2013 - 20:19 | 4021016 Kirk2NCC1701
Kirk2NCC1701's picture

Ich weiss zwar wer der Kerl ist, versteh' jedoch den Witz ni't.

Bitte schreib mir an meine Anscrifft     Kirk... @ hushmail.  Mfg, K.

Thu, 10/03/2013 - 20:26 | 4021030 jvetter713
jvetter713's picture

I fully agree that the 19T is in their plan but here is the deal:

Most of this is invested in *something*.  I don't know the break down but surely >50% of that is in equities, yes?

Some bonds some cash but prolly not all that much cash.  If they steal that they have to sell the asset in order to get the cash which would likely cause plummeting asset prices.  So, sure, they could grab the 19T but in doing so and liquidating how much cash would they actually be stealing?  10T?  5T?  1T?

Thu, 10/03/2013 - 21:37 | 4021181 smlbizman
smlbizman's picture

i would think they would use the asset to borrow against....moar moar how do u like it how do u like it....

Thu, 10/03/2013 - 21:49 | 4021197 Clever Name
Clever Name's picture

Yes, I would assume some multiple of that 19T, lets just say 30x that amount. Sounds right to me!

Thu, 10/03/2013 - 22:59 | 4021306 Braverdave
Braverdave's picture

Very cool name.

And clever pic too.

(edit: 30x to 50x {or more} seems about right. To me.)

Fri, 10/04/2013 - 00:07 | 4021468 duhhhhhh
duhhhhhh's picture

Is that meant to be ironical?

Thu, 10/03/2013 - 19:06 | 4020764 Ness.
Ness.'s picture

"Ya ya you're thinking of this all wrong, as if I had the money back in a safe..."

 

George Bailey. 

 

http://www.youtube.com/watch?v=_Er69b4HMl8

Thu, 10/03/2013 - 20:10 | 4020978 XenoFrog
XenoFrog's picture

Good thing I already lost my savings in a silver boating accident.

Fri, 10/04/2013 - 01:09 | 4021557 IndyPat
IndyPat's picture

Psst....Wanna buy some bitcoin?

Fri, 10/04/2013 - 01:10 | 4021560 silverserfer
silverserfer's picture

you mean u tradegicly lost you boat on the way to the LCS?

Fri, 10/04/2013 - 01:46 | 4021597 IndyPat
IndyPat's picture

Shhhhhh.....be very quiet.
Feeding the troll

Thu, 10/03/2013 - 23:25 | 4021387 Wahooo
Wahooo's picture

Had to read the article to understand the headline. They are not stocking up on cash. They are stocking their ATMs with more cash, thinking people might want to take out more cash from ATMs. Big difference. This is all about nothing. And BTW, the politicians have until October 17 to grab headlines and get on TV. Hope you didn't sell your stocks on this "news".

Fri, 10/04/2013 - 22:24 | 4024726 MontgomeryScott
MontgomeryScott's picture

Had to re-read the article to understand your comment.

They are stocking the ATM's with cash, in order that the expected runs on the ATM's could be dealt with in a fashion that gives the sheople 'confidence' that the banking system is still able to function (despite the 16 Trillion (reported) deficit by USFEDGOV, INC.).

Over in Alexandria or Hiafa, the reported 'BLIP' in posts reflects a fact that is often ignored, but surely prescient: You fuckers are getting SCARED, and are posting this stuff, commenting in a fashion that tries to make the average investor feel somehow 'stupid'.

TO WIT:

"Hope you didn't sell your stocks on this "news"."

FEED THE PIG (DOT ORG)   YES, this is a real website, run by the PTB.

"They are stocking their ATMs with more cash, thinking people might want to take out more cash from ATMs."

Q:

If people have cash in the first place, why would they put it in banks? IF SAID people were then forced to try to GET the cash that they don't have, WHY would they begin to rely on 'lines of credit' available at ATM's? WHY would there be a sudden 'NEED' for these people to 'have currency', instead of living as they always have done?

A:

PROGRAMS (PROGROMS!) such as 'DIRECT DEPOSIT' have permeated the once-free Nation of States, and people are forced in to agreeing to this method of debt instrument compensation. The 'big banks' have now seen that 'debt is money'. and have taken total advantage of this fact of life. AS the 'CREDIT RATING' is now declining, and the 'interest rates' are set to increase exponentially, people, in rapid fire, are beginning to prepare for this by the false hope that 'currency'; be it real or FIAT, is 'safer' than leaving 'DIRECT DEPOSITS' in these 'financial institutions'.

Seriously, Wahooo, you are either a GOVERNMENT SCHILL-PLANT, or a STUPID MOTHER-FUCKER.

 

Thu, 10/03/2013 - 23:48 | 4021438 Oldballplayer
Oldballplayer's picture

Can I be Master Blaster this time!

Fri, 10/04/2013 - 22:31 | 4024754 MontgomeryScott
MontgomeryScott's picture

WHO, RUN, BARTERTOWN?

DAMNIT, I TOLD YOU 'NO MORE EMBARGOS.'

FOUR, THREE, TWO...

http://www.youtube.com/watch?v=Hgq4w4dqKsU

Fri, 10/04/2013 - 21:54 | 4024666 MontgomeryScott
MontgomeryScott's picture

@Zerohead:

President Obama Meets With Head of Goldman Sachs to Talk About “Payday Loan of Sorts”

That's the current headline over at Ben Swann's site. Several other sites have been discussing this over the past several hours, and I thought you all might like to see it.

http://benswann.com/president-obama-meets-with-head-of-goldman-sachs-to-...

I cannot vouch for the accuracy of this. 'I am only an egg.' To those who have never read great scientific fiction, I suggest Robert Heinlein's 'Stranger In A Strange Land' as required reading in 'FUTURES 101' courses. Read the book (GOD, don't watch the 'movie'!).

     Things are getting rather strange. I understand the the USFEDGOV swooped in and tried to close Mt. Vernon (George Washington's old house), because of the 'Shutdown'. ONE ISSUE:

Mount Vernon was bought and is run by PRIVATE, NON-GOVERNMENT people, and has been for a number of years now.

http://townhall.com/news/around-the-web/2013/10/04/park-police-attempt-t...

PARK POLICE? Is this like the dystopian Orwellian vision of a 'kindler, gentler' fascist boot stomping on your debt-laden face forever, or WHAT? Do they write tickets for bending blades of GRASS? NO! They are awaiting (drooling at the promises of) MRAPS to CORRAL, HERD, and MURDER 'those who visit historic sites without proper tax funding and subsidies from the banks that OWN them'.

Well, I said 'one issue', but there may be others.

800,000 'furloughed' 'non-essential emplyees'. if they are 'non-essential', why are the taxpayers being forced to pay for them in the FIRST PLACE? 'THEY' seem to have the CAPITAL to pay people to drive to Mt. Vernon and try to shut IT down (and force the closure of all the historic sites and parks which were previously fully open without any barricades, like the WWII memorial in D.C., or Yellowstone).

They won't JUMP. Nice reference, however.

You and I will be forced to PUSH THEM.

It's like that time when you got a piece of glass in your foot. It hurt like hell, and you either dug it out yourself (feeling the pain), or went to a doctor and paid a shitload of money to him to do it for you (feeling another type of pain). NO, it's more like the time you floated down the Amazon River, and the leeches attached themselves. It hurt, but pulling them off hurt more. In the end, however, you were alive, and they were dead, and you endured the pain, and your body finally HEALED.

Thu, 10/03/2013 - 18:43 | 4020679 TaperProof
TaperProof's picture

I clicked on this article to say exactly what you just said. haha

Thu, 10/03/2013 - 20:10 | 4020980 max2205
max2205's picture

Just charge it dumbasses

Thu, 10/03/2013 - 21:38 | 4021187 Buck Johnson
Buck Johnson's picture

I've said it before and I will say it again, once the checks stop coming the people start going nuts.

Thu, 10/03/2013 - 18:35 | 4020634 xamax
xamax's picture

I expect NFLX at 500 and TSLA at 300 by year end.

To the other stories I give a shit.

Thu, 10/03/2013 - 19:55 | 4020939 moonstears
moonstears's picture

JCP to $50, too?

Thu, 10/03/2013 - 18:35 | 4020637 ultraticum
ultraticum's picture

Where on earth do the banks get all that cash?  MOAR debt!!!!!

Thu, 10/03/2013 - 18:36 | 4020642 TeamDepends
TeamDepends's picture

20-30% MOAR!!!!

Thu, 10/03/2013 - 18:39 | 4020655 GVB
GVB's picture

Put in the Trillion OBAMA note!

Thu, 10/03/2013 - 18:41 | 4020671 TeamDepends
TeamDepends's picture

Obama maid-servant Pelosi on the 500 quadrillion.

Thu, 10/03/2013 - 18:46 | 4020693 fonzannoon
fonzannoon's picture

It's a great move. Very krugmanesque. Stuff the machines. Casuse mild panic. People withdraw money. Panic ends. People never put money back and spend it instead.

Thu, 10/03/2013 - 18:51 | 4020724 McMolotov
McMolotov's picture

Red money...

Thu, 10/03/2013 - 19:03 | 4020768 bank guy in Brussels
bank guy in Brussels's picture

For newer people here ... a ZH classic, 'red money'

Way back in July 2010 on ZeroHedge, Bruce Krasting did a great piece on the age-old Wall Street story, on how the US Fed and government might suddenly be very motivated to replace all the current currency notes, with 'red money' that is already printed, waiting at Federal Reserve Banks ... making all the 'green money' notes held all around the world, invalid within 90 days or so

http://www.zerohedge.com/article/red-money-conspiracy-theory-11

« I believe in Red Money ! »

Thu, 10/03/2013 - 19:18 | 4020832 negative rates
negative rates's picture

The red money and the yellow money got together and made todays greenbacks. Purple is the next chosen color, just look at the number on the back of a $5 bill.

Thu, 10/03/2013 - 19:18 | 4020834 Pure Evil
Pure Evil's picture

They copied that from an episode of M*A*S*H.

The Army was switching old scrip for new and Charles got the idea to go outside the camp and buy up all the old scrip from the locals before the deadline for pennies on the dollar.

The episode ended with Charles getting screwed because he couldn't get back before the deadline to switch the old scrip for new scrip.

Thu, 10/03/2013 - 19:52 | 4020924 moonstears
moonstears's picture

Evil, that actually happened in Germany in the 1960s...successfully, an old vet once told me. Buy off base -25% and bring back at 100% Mark redemption or some such the old miltary payment scrip was banned for use in town(nice looking notes actually, at that time, Ive got a couple, too young to have used, though)

Thu, 10/03/2013 - 20:08 | 4020976 Oldrepublic
Oldrepublic's picture

RockyRacoon

This was one of the comments from that old krasting article

Rubles: Now You See Them, Now You Don't

On January 22, 1991, Mikhail Gorbachev, the president of the Soviet Union, decreed that all existing 50- and 100-ruble banknotes were no longer legal tender and that they could be exchanged for new notes for three days only and only in small quantities. This had the effect of instantly deleting large portions of the savings and accumulated capital of private citizens. He followed up this genius move on January 26, by ordering that the police had the authority to search any place of business and to demand the records of any business at any time. The union's economic problems accelerated into a death spiral. Gorbachev resigned on December 25, and on the next day the Supreme Soviet dissolved itself and the Union of Soviet Socialist Republics.

http://mises.org/daily/4536

Fri, 10/04/2013 - 23:20 | 4024874 MontgomeryScott
MontgomeryScott's picture

Oh, SHIT!

'We've got one that can SEE!'

http://www.youtube.com/watch?v=kBY6pF42I-c

Thu, 10/03/2013 - 20:10 | 4020977 Oldrepublic
Oldrepublic's picture

RockyRacoon

This was one of the comments from that old krasting article

Rubles: Now You See Them, Now You Don't

On January 22, 1991, Mikhail Gorbachev, the president of the Soviet Union, decreed that all existing 50- and 100-ruble banknotes were no longer legal tender and that they could be exchanged for new notes for three days only and only in small quantities. This had the effect of instantly deleting large portions of the savings and accumulated capital of private citizens. He followed up this genius move on January 26, by ordering that the police had the authority to search any place of business and to demand the records of any business at any time. The union's economic problems accelerated into a death spiral. Gorbachev resigned on December 25, and on the next day the Supreme Soviet dissolved itself and the Union of Soviet Socialist Republics.

http://mises.org/daily/4536

Fri, 10/04/2013 - 00:12 | 4021477 mt paul
mt paul's picture

does not the new 100 $ bill

get issued oct 17 or 18th....

Fri, 10/04/2013 - 23:16 | 4024857 MontgomeryScott
MontgomeryScott's picture

ohmygod.

BLOODMONEY.

REDBACKS.

WOARPROFITEERS.

WOAR IS MOAR, AND MOAR IS WOAR. MOAR WOAR IS THE NEW WOARWHORE, AND MOAR IS THE RED-FED CURRENCY, YOU WHORES WHO NEED MOAR! WOAR!

Invalid' and 'invalid' are pronounced two different ways, and have two different meanings.

The FIRST is a contract which has been decladed 'null and void'.

The SECOND is an old person, unable to function without the help of others (and no longer counts as a 'contributor' to the overall 'economy'). In-'VAL-id, or 'IN-valid.

Kennedy had some real money printed, and then they murdered him (for those who are not new here, and know the history of fiat currencies).

Who put that crab there?

What crab?

There were TWO crabs! They always work in PAIRS!

http://www.youtube.com/watch?v=RnoPZqC6Bfs

 

Thu, 10/03/2013 - 18:36 | 4020643 fonzannoon
fonzannoon's picture

these banks are so flushed with money it's literally coming out of their ass now.

Thu, 10/03/2013 - 18:37 | 4020645 GVB
GVB's picture

LOL. Capital Controls coming to your town BITCHEZ. Uhuh.

Thu, 10/03/2013 - 21:30 | 4021172 ParkAveFlasher
ParkAveFlasher's picture

Price controls in seminal markets - including financial markets - imply that capital controls are already in place.  The next ten years will be as tight as the last ten years were loose.

Thu, 10/03/2013 - 18:38 | 4020647 Debtonation
Debtonation's picture

Fuck banks.  Cash and gold.

Fri, 10/04/2013 - 01:11 | 4021562 IndyPat
IndyPat's picture

Damn. My gold burned up when my fly ass Tesla went supernova.

Thu, 10/03/2013 - 18:37 | 4020648 EverythingEviL
EverythingEviL's picture

Oh god please, give us freeeeee overdrafts so I can print my own money like our good ol pal Bernanke! Fuck you Bernanke!

Thu, 10/03/2013 - 18:37 | 4020652 buzzsaw99
buzzsaw99's picture

They should stuff ATMs with CDS so we can all be safe in case of gubbermint default. [/sarc]

Thu, 10/03/2013 - 18:57 | 4020739 Surging Chaos
Surging Chaos's picture

Nah, they'd be full of 100-year treasuries. Still paper that would be going to zero though, so it makes no difference.

Thu, 10/03/2013 - 18:37 | 4020653 LeisureSmith
LeisureSmith's picture

20-30 per cent.... That is not enough to cover a leisurely bank walk, let alone a brisk bank walking pace.

Thu, 10/03/2013 - 18:52 | 4020726 lakecity55
lakecity55's picture

Gee, all these years and I thought a bank run was going into the bank with a gun, mask and a note and then Running outside very fast.

Thu, 10/03/2013 - 18:38 | 4020656 lakecity55
lakecity55's picture

Hmm, time to warm up the ole backhoe.

Thu, 10/03/2013 - 18:44 | 4020688 nmewn
nmewn's picture

I hear ya, you can get more ATM's in a bucket than I can just draggin em out of the wall with a logging chain (one at a time, with a 4X4)...lol.

But its still 20-30% moar bang for the buck!

Thu, 10/03/2013 - 23:25 | 4021388 espirit
espirit's picture

Hmmm... Which banks did the Banksta's say were going to top off their ATM's?

Thinkin', just a thinkin'.

Fri, 10/04/2013 - 00:35 | 4021514 Freedumb
Freedumb's picture

Well, I'm not sure the banks have been identified by name, but for present purposes and without getting too caught up in details and specifics, let's just say one of them was JPMorganChase

Fri, 10/04/2013 - 23:24 | 4024881 MontgomeryScott
MontgomeryScott's picture

Well, I hope this helps in solving your dillema.

http://benswann.com/president-obama-meets-with-head-of-goldman-sachs-to-...

Thu, 10/03/2013 - 18:40 | 4020659 nmewn
nmewn's picture

Please-Remain-Calm!!!

Thu, 10/03/2013 - 18:43 | 4020680 Miffed Microbio...
Miffed Microbiologist's picture

That is only said by those who have benefit from people remaining calm.

Miffed;-)

Thu, 10/03/2013 - 18:46 | 4020695 nmewn
nmewn's picture

Zactly ;-)

Thu, 10/03/2013 - 18:51 | 4020723 Miffed Microbio...
Miffed Microbiologist's picture

Once again we go to the dark side. Bring it brother. Though I do hope we last to the 9th when I can pick up 2 beauties I have on hold. 10 day waiting period is somehow going to diffuse my resolve?

Miffed;-)

Thu, 10/03/2013 - 18:59 | 4020750 DaddyO
DaddyO's picture

Vote with your feet, move to the gunshine state, lol!!!!!!!!

Actually I'd move to anywhere from the Peoples Republic of Kalifornia...

Although, San Diego is one of my most favorite destinations to relax and unwind. Love the place...

DaddyO

Thu, 10/03/2013 - 19:24 | 4020850 Pure Evil
Pure Evil's picture

You, Diane Feinstein, and Nancy Peolsi could do a remake of Three's Company and call it "Two Ugly Dykes And A Serious Case Of Erectile Dysfunction".   ;o)

Thu, 10/03/2013 - 19:35 | 4020891 DaddyO
DaddyO's picture

Eeewww, serious shrinkage...just sayin

DaddyO

Thu, 10/03/2013 - 21:03 | 4021116 Miffed Microbio...
Miffed Microbiologist's picture

It's tempting daddyO. Lots of fascinating characters in your state. Mine's pretty much a wash. However, I'm used to riding earthquakes rather than running from hurricanes

Miffed;-)

Thu, 10/03/2013 - 20:07 | 4020849 nmewn
nmewn's picture

Sorry bout that, Squire nmewn just had to best the ole man at basketball or his evening wouldn't be complete...lol...but I did skunk him the first two out of three ;-)

Yeah, I was thinkin bout Captain Black Sam Bellamy just today...he had it figured out centuries ago:

"I am sorry they (the crew) won't let you have your sloop again, for I scorn to do any one a mischief, when it is not to my advantage; damn the sloop, we must sink her, and she might be of use to you. Though you are a sneaking puppy, and so are all those who will submit to be governed by laws which rich men have made for their own security; for the cowardly whelps have not the courage otherwise to defend what they get by knavery; but damn ye altogether: damn them for a pack of crafty rascals, and you, who serve them, for a parcel of hen-hearted numbskulls. They vilify us, the scoundrels do, >>>when there is only this difference,<<< they rob the poor under the cover of law, forsooth, and we plunder the rich under the protection of our own courage. Had you not better make then one of us, than sneak after these villains for employment?"

Kinda says it all.

////////////

For my junker...there IS ONLY THAT DIFFERENCE.

I say again, Hitler had laws, so did Mao & Stalin. Law is meaningless without popular support AND a light hand on the uneforceable, flavor-of-the-day aspects of it or its just plain ole tyranny.

And they can and do get repealed, sometimes by force, sometimes on the simple recognition that complete corrupt imbeciles made them "laws".

You have the floor, if you dare ;-)

Thu, 10/03/2013 - 20:51 | 4021091 Miffed Microbio...
Miffed Microbiologist's picture

You are a devilish conscience rascal! I am a free prince, and I have as much authority to make war on the whole world as he who has a hundred sail of ships at sea and an army of 100,000 men in the field; and this my conscience tells me! But there is no arguing with such snivelling puppies, who allow superiors to kick them about deck at pleasure.

Kinda works for me as well ;-)

Miffed;-)

Thu, 10/03/2013 - 21:55 | 4021206 nmewn
nmewn's picture

Consent, in this case one of contract, what a wonderful, expressful word.

If we don't anymore, because of what we (through our forebearers) consented to originally, has been "changed" without our permission or authorization in speaking for them as present contract holders, we cannot be bound by any legal or societal contract of the other party waving a piece of paper in front of us, as they are the ones who broke the agreement/contract.

It will require force, on their part, to compel. Which is, where we're at, eyeball to eyeball with it, with law that is not really law, just an apparition of the justice of a few.

So now we hoist the black flag ;-)

Thu, 10/03/2013 - 22:41 | 4021283 logicalman
logicalman's picture

Google 'Odious debt' and 'Unconscionable Contract' I think you will find it interesting.

Thu, 10/03/2013 - 22:51 | 4021300 Miffed Microbio...
Miffed Microbiologist's picture

To be GOVERNED is to be watched, inspected, spied upon, directed, law-driven, numbered, regulated, enrolled, indoctrinated, preached at, controlled, checked, estimated, valued, censured, commanded, by creatures who have neither the right nor the wisdom nor the virtue to do so.

To be GOVERNED is to be at every operation, at every transaction noted, registered, counted, taxed, stamped, measured, numbered, assessed, licensed, authorized, admonished, prevented, forbidden, reformed, corrected, punished.

It is, under pretext of public utility, and in the name of the general interest, to be place under contribution, drilled, fleeced, exploited, monopolized, extorted from, squeezed, hoaxed, robbed; then, at the slightest resistance, the first word of complaint, to be repressed, fined, vilified, harassed, hunted down, abused, clubbed, disarmed, bound, choked, imprisoned, judged, condemned, shot, deported, sacrificed, sold, betrayed; and to crown all, mocked, ridiculed, derided, outraged, dishonored.

That is government; that is its justice; that is its morality. At this point we deserve to be free of it. It now depends on courage of those willing to take back what is ours.People have only as much liberty as they have the intelligence to want and the courage to take.

Miffed;-)

Fri, 10/04/2013 - 05:11 | 4021697 Adahy
Adahy's picture

Great post.  Had to log in just to + you.  Have a great day.

Thu, 10/03/2013 - 22:39 | 4021280 logicalman
logicalman's picture

Posted this under the Dimon article, but it fits here too, I think.

You point out the obvious asymmetry in the legal system (there is no justice system, don't kid yourself) which is glaringly obvious to anyone who doesn't have his/her head up their arse.

That's how the bastards stay in power. The legal system has never been about justice, just control of the herd by those who believe they are superior. Lawyers don't give a stuff about their clients, other than how much money they can suck out of them and laws are made by people to benefit themselves and their cronies.

Judges are bought and paid for.

Politicians are mobsters in disguise.

Most cops and soldiers are less than well informed, and will blindly follow orders until the whole thing falls to bits and their own families are threatened.

I think I may be a pessimist, but on the bright side, pessimists are rarely dissappointed.

Thu, 10/03/2013 - 18:40 | 4020662 salimmk
salimmk's picture

more ZH fear mongering. If the computers go down everybody dies!

Thu, 10/03/2013 - 18:45 | 4020685 SgtShaftoe
SgtShaftoe's picture

It depends which computers...  If all the reactors in the US go Fukushima, we all die.  For that to happen the systems just have to fail.  If the US lost power for a month, and fuel wasn't delivered to the backup generators, then it's a matter of time.  The motherfucker of fat tails. 

Thu, 10/03/2013 - 18:56 | 4020738 Pure Evil
Pure Evil's picture

Bait Click baby, B---A---I---T   C---L---I---C---K!!!

Thu, 10/03/2013 - 19:03 | 4020763 Tyler Durden
Tyler Durden's picture

While reading comprehension is not everyone's strong suit, the part where it says "the FT reports" we thought was quite clear.

Thu, 10/03/2013 - 19:10 | 4020797 bank guy in Brussels
bank guy in Brussels's picture

Not to mention Tyler's intro ...

« Even as the fearmongering over the debt ceiling hits proportions not seen since 2011 ... »

Thu, 10/03/2013 - 19:31 | 4020871 Pure Evil
Pure Evil's picture

Who wants to read when the Obammy phones are free along with the health (s)care.

Thu, 10/03/2013 - 19:18 | 4020827 CheapBastard
CheapBastard's picture

Did you mean, "the WTF reports" ?

Thu, 10/03/2013 - 20:47 | 4021080 WallowaMountainMan
WallowaMountainMan's picture

"Then again, since increasingly fewer Americans actually have money in deposit and savings accounts with banks, there is likely nothing to worry about."

so, being one of the not strong comprehension readin' folks, could you please help me?

i thought i read, countless number of time (which aint that many 'cause i cant count neither), that you tylers folk pointed out on charts the rate of increase of deposits.

does my memory serve me accurately?

if it does, and if you'd like, i can reconcile that phenomena, your observation about fewer americans, and 'why fed liquidity isn't".

:)

Thu, 10/03/2013 - 21:10 | 4021128 Tyler Durden
Tyler Durden's picture

Simple: as we have pointed out repeatedly the bulk of those deposits are Fed reserves and corporate cash parked at banks. As for the number of consumer deposits it is inversely proportional to the number of Americans on Foodstamps.

Thu, 10/03/2013 - 23:21 | 4021377 WallowaMountainMan
WallowaMountainMan's picture

'As for the number of consumer deposits it is inversely proportional to the number of Americans on Foodstamps'

precisely, hence:

"'why fed liquidity isn't"."

as the numbers go up on top, the flow chokes and suffocates itself. (or more visually, the amount it has to produce won't fit out its ....)

flow is not, as some tylers holds, the life blood of the system. its math has transformed it into poison.

flow must stop.

 

my two cents worth.

:)

 

Thu, 10/03/2013 - 23:20 | 4021369 wisehiney
wisehiney's picture

But that Banzai dude makes purty pitures.

Thu, 10/03/2013 - 19:25 | 4020855 Dr. No
Dr. No's picture

You mean as like Terminated?

Thu, 10/03/2013 - 18:39 | 4020664 Miffed Microbio...
Miffed Microbiologist's picture

Yeah right 20-30% more will make all the difference. Just ask the Argentinians what happened when their economic collapse occurred. Finding an operational ATM when it all blew up was impossible. It's best to keep some cash at home when things get squirrelly rather than roaming the streets with the zombies.

Miffed;-)

Thu, 10/03/2013 - 18:43 | 4020684 Skateboarder
Skateboarder's picture

At the very minimum, cash every other paycheck and put some of it aside for SHTF + bank holiday situations.

Thu, 10/03/2013 - 18:56 | 4020737 Miffed Microbio...
Miffed Microbiologist's picture

Yes, we have decided not to be Corzined. Safer to have some at home under our guard rather than the governments.

Miffed;-)

Thu, 10/03/2013 - 19:08 | 4020785 Skateboarder
Skateboarder's picture

Storing metals with the banks is also a stupid idea. Bank holiday = you just became a sucka. I know too many people who put their gold in safety lockers in the bank. The confiscations will be instantaneous and irreversible.

AAAAND IT'S GONE!

Thu, 10/03/2013 - 20:04 | 4020962 ziggy59
ziggy59's picture

Zackly...having access 24/7/365.25 is crucial..

Sux when you cant get into safety deposit box after 6:00 pm or sundays..

Fri, 10/04/2013 - 07:14 | 4021792 Esso
Esso's picture

+1 for the 365.25!

Thu, 10/03/2013 - 18:54 | 4020701 NOTaREALmerican
NOTaREALmerican's picture

Re:  Just ask the Argentinians

Well, luckily for the "citizens" of the greatest country the entire worlds has ever had, we are the reserve currency and will never run out of money.

This was guaranteed by the forsight of the "world's greatest generation" who created the financial system we - and the world - know as THEE most open and honest in the human history of humanity.  

Thu, 10/03/2013 - 18:40 | 4020665 One And Only
One And Only's picture

They should just replace ATM machines with  Bens perpetual printing devices.

If everyone could print money everyone would be wealthier.

Thu, 10/03/2013 - 18:51 | 4020719 DOT
DOT's picture

I like it!

Get those animal spirits going.

 

Fore-ward!

Thu, 10/03/2013 - 18:41 | 4020667 NOTaREALmerican
NOTaREALmerican's picture

I hope they run some ads:

Cue;  one of the pickup-truck ads deep voiced males:

The government may be shutdown, but you can be sure that the banks of this great and glorious nation...

cue: slow-motion flag

are still open for bidness...

cue:  small bidness man, smiling as he turns away from the ATM machine.

because we here at ______ are the foundation of Merican Free Enterprise.

Cue:  slow-motion eagle.

(throw in a pickup-truck too,  just for the "patriots")

Thu, 10/03/2013 - 18:48 | 4020705 Australian Economist
Thu, 10/03/2013 - 19:23 | 4020847 29.5 hours
29.5 hours's picture

No can do, without privileged forum access. The forum software strips out most HTML tagging.

 

 

Thu, 10/03/2013 - 18:40 | 4020669 involuntarilybirthed
involuntarilybirthed's picture

Silly

Thu, 10/03/2013 - 18:42 | 4020674 seek
seek's picture

This is the third story I've heard, all from separate sources, of banks actively preparing for a holiday/collapse/whatever this month.

Self-fullfilling prophecy indeed.

Thu, 10/03/2013 - 18:49 | 4020715 lakecity55
lakecity55's picture

do you remember the sources?

the conspiracy websites have that every 2-3 days.

Thu, 10/03/2013 - 18:56 | 4020740 seek
seek's picture

LOL @ conspiracy sites. Yeah, beforeitsnews.com isn't the most reliable place. FEMA region III was supposed to be a pit of despair from a NBC attack two days ago, doh!

One was http://sgtreport.com and I can't find the other, it was in a random newsfeed on one of probably 20-30 sites I check daily.

Thu, 10/03/2013 - 23:13 | 4021342 Serenity Now
Serenity Now's picture

Every 2-3 hours.  But the doomtards have the best comments on earth.  

Thu, 10/03/2013 - 18:56 | 4020733 Handful of Dust
Handful of Dust's picture

Did you say, "Holiday?"

My Boss does not even recognize sick days anymore. Only a note from the Coron er's office suffices.

PS: I work in the real world ... in the private sector.

Thu, 10/03/2013 - 19:12 | 4020806 NOTaREALmerican
NOTaREALmerican's picture

Re;  I work in the real world ... in the private sector

You choose...  poorly.   You should really work for a TBTF bank,  those are the best scams going, well besides Big-MIC, Big-Ag, Big-Ed, or Big-PoliceState.  

The State of KaLiFoRnIa is still hiring too.   30 year you get 90% of your pay.    Good gig there too.  Espesially if you happen to be extroverted enough to make it into management or are tight-enough with managers to get that 3 promotions in 3 years scam.   Plus, you don't really "work" in the real sence of the word, it's a good place to run a part-time business from.   

Thu, 10/03/2013 - 19:56 | 4020940 Withdrawn Sanction
Withdrawn Sanction's picture

This is the third story I've heard, all from separate sources, of banks actively preparing for a holiday/collapse/whatever this month.

So maybe the bank holiday in Panama last week was a test run for this side of the Atlantic.   Cyprus (v., to steal or unlawfully convert; see also, Corzined).

Thu, 10/03/2013 - 23:15 | 4021345 Serenity Now
Serenity Now's picture

Hey, whatever happened with that? 

Fri, 10/04/2013 - 00:57 | 4021541 seek
seek's picture

There's been impressively little news. The bank sites are online, and after much effort google translate says (according to one of the banks press release):

Panama National Bank informs its customers and users that after 84 hours of continuous work managed to implement Phase II of its new technology platform in the areas of credit and portfolio.

October 1 , Banconal 72 branches across the country are using the new system and have the information visible and available for credit customers learn and adapt to the changes involved in this new phase process technology platform. "Over the next few days the bank staff will continue to adapt to the new system in the area of ??credit , so request the understanding and cooperation of our customers will also get used to changes in the system," said general manager Dario Berbey.

So it looks like they're painting it as "banking system modernization." After a surprise announcement? Yeah, riiiight.


Thu, 10/03/2013 - 18:44 | 4020678 Rockfish
Rockfish's picture

They stuff full of cash because they see wind fall coming.  When you go to your local ATM and hit the hundred dollar fast cash button you get $100 bucks even if your ballance is $38.97.  What will that hundred caost you? between $25.00 -$40.00.

Contrary to the belief that all those gumbies are rollin in cash most of them live pay check to pay check regardless of how much they make. Its what the population does. They spend all of thier money. 

Now back to the banks. The banks know these guys will be back to work at some point so why not pick up some extra fees besides they're helping these folks out with some short term loans. 

 

 

Thu, 10/03/2013 - 18:59 | 4020742 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

It is called overdraft on a checking account. Then they hit you with a fee for doing so. This a great way for them to make some extra cash on the sky is falling crowd. This actually one of those instances where if you don't already have cash on hand just use the ATM card if you have it while the sky is falling types are bank running cash. With that said it is always a good idea to keep some cash on hand at all times if you can. The banks aren't going to shut down over this and 1s and 0s don't care as long as the grid is up and running. If they are expecting a shut down then something bigger is in the pipeline than the debt ceiling.

Thu, 10/03/2013 - 19:19 | 4020833 Skateboarder
Skateboarder's picture

Every poor person has dealth with the bullsihts that are overdraft fees. They rig the order of transaction to get you boy, they do, fucking bastards.

Cash-only is the best way you can roll when your poor.

Thu, 10/03/2013 - 19:34 | 4020883 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

I agree but if you don't have it and have an account use the card while this shitstorm plays out, don't be one of the panicees. Still grabbing some cash ahead of the rush is a smart move if you can. Just pay attention to your spending is all as to not trip the overdraft. Problem is I bet a quite a few government employees wind up doing so with no choice because of what is going on. The overdraft fee is cheaper than the credit card if this goes on for an extended period of time and we know the banks will be pressured to extend repayment time for gubmint employees if that is the case.

Fri, 10/04/2013 - 10:32 | 4022394 Imminent Crucible
Imminent Crucible's picture

There's a natural (and justified) fear of having too much cash on hand, when things go tits-up.  You're afraid of getting Zedillo'd: "Buenos dias, my fellow Mexicanos. Just a quick note to advise you that your peso deposits have been devalued by nearly half since close of business on Friday. Have a wonderful day."

But historically, a bank run or financial collapse is a really bad time to be short of cash.  Think of the 2001-2002 Argentine default, the corralito that lasted almost two years.  Think of the long lines circling the block to get money out of IndyMac Bancorp and Northern Rock.

When the USD starts to cough up blood, dislocation is likely to drag on for a very long time.  If you stay put through it, you might need a pretty sizeable stash to tide you over until enough people realized that PMs are money. If you decide to bail to escape the NSA and looting mobs, you may find your cross-border exit takes a lot of palm-greasing.  And then, food and lodging aren't free in Canada or Mexico.  Much less Switzerland.

 

Thu, 10/03/2013 - 18:45 | 4020683 reTARD
reTARD's picture

At least that "cash" is physical as oppose to the much large amount in the accounts as electronic "cash." ;-)

Shall we expect an increase in attempted ATM machine robberies?

Thu, 10/03/2013 - 19:02 | 4020762 Pure Evil
Pure Evil's picture

Nah, the crooks that steal ATM's can't read, they edumacated in public school.

The crooks that can read are all located in D.C. and Wall Street and were edumacated at some Ivy League school.

Thu, 10/03/2013 - 18:44 | 4020686 Dr. Gonzo
Dr. Gonzo's picture

If we had a lock box for Social Security we wouldn't have this problem.  Home Depot sells big fire proof lock boxes and Treaury could store all our checks in them. I don't know if this is answer but it seems like it would solve the problem. Keep those checks coming Uncle Sugar.

Thu, 10/03/2013 - 18:44 | 4020687 mademesmile
mademesmile's picture

The scary part is I'm not ready for what's coming. I'm probably better off than 90 percent thought, which is even scarier.

Thu, 10/03/2013 - 21:27 | 4021161 Legolas
Legolas's picture

You'll never fully be ready anyway.  Just do what you can and don't stress over what you don't have done.

Thu, 10/03/2013 - 23:34 | 4021412 OldE_Ant
OldE_Ant's picture

Agreed.  In some loose sense if you've been planning as much as possible and are willing to be helpful.  There will be a place for you in many scenarios.  Have as many talents and be willing to work and guess what apples, pear, and grapes are current bounty in my work zone.  And whatever you can hunt.  (ground hog, deer, squirrel, soon plan chickens, rabbits, mini-horses, mini-cows, etc.) ;)

There are a lot of preppers out here and we are looking for 'transistion' not total 'anarchy'/chaos.   Simple as that.

Look around, pay attention and don't be a robot and you'll be fine.

One thing about banks having cash this time around.  Great idea.!  I find fiat still works for a lot of people and guess what if PMs become the coin of the round.  I'm ready to be a new bank - as long as someone has scuba gear to get the gold.. lol

I'm liquid either way, many ways.  I have skillz up the wazu.  Can make as much money going freelance in a number of ways as I can in the system...  Right now on the govt tit (yes I am) we are in a state of flux.  I could be laid off any day.  I have done a lot of work, do have cash for a year and don't anticipate govt will do anything different except kick the can tihs time around.

IF THEY DON'T KICK THE CAN.  I'm ready for fallout from UST default - have been for 4-5 years now.  One can never be ready for the reset..  But I am as much as possible.   In fact more so.  I took losses on short positions buying time into this m'fr coming.  But I'll happily take more losses to have more time to prepare.  Honestly.  There are others out there too taking a beating being short when it was the right time and being/are slaughtered by the FED.

FUCK THE FED.  I have other long positions and need time to fully prep for this m'fr reset coming.  Bring it on.

I want the repubs or someone to stand up and say, this is it.  We are done.  I have friends who believe the tea partiers should be held in 'treason' and sent to 'getmo' due to the state we are in.  I think inside let the tea party stand and bring us all down.  Finally we have to re-address 'the state of the state'.

I fully expect to be hosed on my losing short.  The FED and congress will save the fucking day and kick the can hard into next year.  Go for it.  I win either way you mother fuckers.   I just no longer get the growth you promised me.  I can't bet for or against you in good consc..

In the end I as one of many AMERICANS believe that WE OURSELVES need to take ourselves into the next phase of social/political life.  WE need to become self sufficient in ourselves.  By doing this we reconnect to life and disconnect from death.  Sounds easy, not so.  Takes continual conscious choice.  Every day, every recycle, every board, every brick and every bit of life (food, water, peace, labor).

This is what is wholly meant by 'we the people'.  Get it and move into it, because it's coming fast.  What is great imo is that it's more than 1% who 'get it' now.  More like 5% and growing.

Shut it down.  Bring it on.  I think we wait a while yet.  Some sort of last minute miracle will seemingly occur to 'save us' one last time.  My short will get hosed, my longs love it and all will be well for another year until the 'next time'.

lmfao.  'next time'.  Sounds like the true state of the world.

Next time it will be better. My friends.

It is this time. NOW.

Which side are you ON.

Sincerely and with love/compassion.

OldE_Ant

Fri, 10/04/2013 - 01:27 | 4021581 IndyPat
IndyPat's picture

Fuck that. I'm eating Bankster. Syrian style.....

Fri, 10/04/2013 - 01:32 | 4021585 Tijuana Donkey Show
Tijuana Donkey Show's picture

Is bankster kosher?

Fri, 10/04/2013 - 01:52 | 4021587 akak
akak's picture

Well, sharks do have fins and scales, and wolves walk on four legs without cloven hooves, but of course swine do have the latter, and since I really don't know how pure shit fits into the kosher dietary laws .... all in all, I would have to guess "no".

Fri, 10/04/2013 - 01:36 | 4021589 IndyPat
IndyPat's picture

I dunno. Let you know when the rabbis done cooking....

Fri, 10/04/2013 - 01:36 | 4021591 IndyPat
IndyPat's picture

I mean, they all ate kosher...so if your are what you eat...imma say yes

Fri, 10/04/2013 - 01:42 | 4021596 IndyPat
IndyPat's picture

Or...option "c"

The salt I rubbed on their flayed flesh was kosher
Does that count?

Fri, 10/04/2013 - 15:17 | 4023471 SubjectivObject
SubjectivObject's picture

They talk a lot of kosher.

But, in fact, are not "kosher".

Thu, 10/03/2013 - 21:41 | 4021188 Blano
Blano's picture

I'm not either, but Legolas' comment is rather comforting and on the mark.

Thu, 10/03/2013 - 18:48 | 4020704 whoopsing
whoopsing's picture

So , I suppose on a usual day they would only fill a machine up somewhere north of halfway ? This don't make sense...fuck, nothing makes sense

Thu, 10/03/2013 - 23:34 | 4021405 Non Passaran
Non Passaran's picture

Good point but maybe it's now more 100's and less 20's than usual

Thu, 10/03/2013 - 18:49 | 4020709 Yen Cross
Yen Cross's picture

      Thanks for telling everyone that the ATMs will be loaded to the gills with cash.

  Signed,

            The Russian Maffia

  P.S. can you make those small non-sequential bills? Thanks

Thu, 10/03/2013 - 18:48 | 4020712 dick cheneys ghost
dick cheneys ghost's picture

trade that fake, fiat rothchilds plantation script for some PM's

Thu, 10/03/2013 - 18:51 | 4020721 TaperProof
TaperProof's picture

I don't want green toilet paper, i want shiny metal

Thu, 10/03/2013 - 18:56 | 4020741 saltedGold
saltedGold's picture

Same here!  Luckily, my metals dealer is happy to take checks from me. 

Thu, 10/03/2013 - 19:16 | 4020824 22winmag
22winmag's picture

I hear you about that worthless green monopoly money. If I can't eat it, drink it, fire it at high velocity, or admire it's lustre, I don't have any respect for it.

Thu, 10/03/2013 - 18:55 | 4020734 butchtrucks
butchtrucks's picture

So what does the endgame look like? As the debt ceiling date approaches, market will start to freak out. You can already see a faint hint of freakout coming, as interest rates on 4-week Treasury bills — which may not be repaid on their due date — have moved up above 6-month.

The Repubs need to hang tough here and not concede an inch. We could be looking at a big reset here that will make the 'Leahman's moment' of 2008 look like a Sunday school picnic. This is EXACTLY what this country needs right now. I have been hanging out for this moment for more than five years now - long silver, gold, ammo - and beans.

Thu, 10/03/2013 - 20:02 | 4020956 Withdrawn Sanction
Withdrawn Sanction's picture

The Repubs need to hang tough here and not concede an inch.

One can always hope, I suppose.  Unfortunately, however, they have a very nasty habit of caving in...and at the worst possible moment.  I suspect they will fold like a lawn chair when the time is wrong.

Thu, 10/03/2013 - 18:57 | 4020745 Bunga Bunga
Bunga Bunga's picture

Yawn, it's still a music chair game, no different than 2008, 1971 or 1933.

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