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Bank Of America Has A Message For Its European Depositors: "We May Charge You"
Because Mario Draghi wasn't joking about that whole NIRP thing. And yes, negative deposit rates mean just that.
As the letter says, don't worry: Bank of America has an extensive team of "liquidity and investment management solutions" experts who will gladly advise you to rotate your money out of deposits and into financial stocks, preferably that of BAC itself.
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Pitchforks time...
CHAAAAARGE!!!
Boom!
If that happens in the U.S., Team Obama, Team Pelosi & Team Reid will need Team Depends after the ass whipping the Democrats receive in November.
Angry, cane wielding seniors will be swinging for Bank Supported By American Taxpayers' tellers heads.
I am shocked!
I thought their privilege was to charge us ‘usury’ to pay them for access to their bank-note (money).
wtf? will you please go away
Why are people still using Bank of Amerika?
I closed my account years ago and now all of my banking is done at a credit union.
Because they have branches everywhere.
Business and sheeple love it... Convenience.
They will pay the fee people love been fucked.
Do you get a toaster with the ass rape?
I always get down votes when I post about keeping cash in a safe deposit box ... but it is looking like a good call!
Think about it. If you need cash, you walk into a BANK, get your cash out, DEPOSIT the cash with the teller, get a SAR filled out, and immediate get a cashiers check for whatever you gotta pay.
If one is paranoid, you can keep all the bank teller slips from withdrawls in with the cash. If the cash is legit, this isn't illegal (yet), just unconventional.
Regards,
Cooter
Yeah, a lot of old Boomers do that. It's probably the dumbest thing a person could do. Mommy and daddy taught them to hoard cash, but apparently they missed the part about putting it under the mattress.
So, under what circumstances would the bank open the box *without* a court order?
Assuming the keys are secuired, that pretty much means drilling the sucker. There should be witnesses and an inventory of contents.
If the bank went out of business, there would be an opportunity to claim the contents.
I have researched this, so please provide specifics and sources if handy.
Regards,
Cooter
I guess you never heard of the Patriot Act and specifically National Security Letters.
Used mostly by not relegated to the FBI used to compel internet-service providers, credit companies, and financial institutions among other entities, to submit information about their clientele: phone numbers, e-mail addresses, websites visited and more.
It should be noted any agency issuing a NSL doesn't need court approval to do so.
They could most certainly be applied to something like a safety deposit box.
The reality is they are abused to strong arm entities that don't have the resources to fight back like a small business or in the case of TBTF banks the will or incentive to even bother.
The EFF I believe is the only organization that has actually challenged the any of the 3 letter agencies specifically the FBI for abusing the practice in the court system so far.
You have researched what exactly? Current law (created and enforced by corruptible men)? Maybe you haven't noticed but law changes abruptly to suit whoever is in power during a crisis. Exhibit A: 2008. Exposing yourself unnecessarily to the whims of sociopaths means you are mentally defective. See my comment below. Obviously, any further engagement with you is futile.
You seem to be trying to convince people of keeping a paper trail so their spending can be tracked.
And of course there is absolutely no bank fee
to have a safe deposit box ???
I keep a safe deposit box for important documents and such. So, its a sunk cost already. I pay 85/year (I got a lot of crap). I keep a balance in the associated savings account which auto-drafts for renewal. The account is above a minimum and essenially has zero activity/charges.
I checked the quality of the bank via www.bankregdata.com and chose the best bank I could find for my area.
Regards,
Cooter
You get down-voted because leaving anything of value in a bank, anywhere, is imbecilic thinking. Anything left in any bank is the banks property, as court rulings and seized by warrant (any LEO, IRS, ect...) have shown.
If it ain't in your physical possession, buried in a can in your yard, your underwear drawer, the hat band of your cowboy hat hanging on a nail in the shed, it ain't yours.
To sum up, you are either a troll (probable), extremely undereducated about current banking laws (I doubt) or a banker: your ideas of using "Safe Deposit Boxes" are which are neither "Safe" nor good advice.
Sometimes I wonder if fifteen hundred some years of serfdom in Europe created a human who is compelled to offer up their assets to some real or perceived authority. It's some kind of sick biological instinct created or distilled by fifteen hundred years of evolutionary pressures.
it may go all the way back to the annunaki, who some say created our ancestors to fetch gold out of the ground for 'anu, enki, enlil and friends'... so we have this gold craze ever since.
maybe it was the 'tezcatlipoca people' who were bred to fetch gold; and the 'qetzalcoatl people' on the other hand didn't care about it except as ornamentation...
Would you as the banks manager allow the boxes to be looted by higher ups? The chances that you are going to get shot by a disgruntled account holder are pretty high.
Dear BoA,
Thank you for your letter.
Fuck You!
I withdrew my money this morning
maybe they were just being sarcastic?
hey mr. cooter. i put some 'stuff' in a safe deposit box recently. i'm fairly old and never thought about this sort of stuff, but thought and thought about my options and did it. i opened the box 2 years ago. last year, i get a letter from the bank. it was fairly scary.
the summation of the letter was: 'for safe deposit box owners with our bank. using the box to store coins or currency of u.s. or foreign countries is illegal'.
i live in new york city area. if anybody has any facts on this, it would be appreciated.
Use the www.bankregdata.com lnk to research and fnd a genuinely healthy bank. A SDB lease is a private contract. Treat it as such. If you don't like the terms, don't sign or go somehwere else.
If you are mobile, why not store coins in a SDB in Utah where they recognize gold/silver as money? You might even get bullion services without leaving the bank premises.
Regards,
Cooter
thanks!
According to a sibling that has an account @ BBVA, they were instructed per the "Unpatriot Act" it was illegal to keep cash in a safe deposit.
Personally, I think it's a good idea should there be no cash available due to an unforseen holiday.
F'em. Everyone is a criminal except the criminals.
Probably because they can rape your 'safe' deposit box as well.
You should do more homework son.
I'm aware of that.
A bit less likely at a regional or CU.
When you ASSume...
Grandpa.
It works until...
FRN's get replaced with something else/something new, only credited to whatever is showing on an account ledger, in your name.
You never know.
"Do you get a toaster with the ass rape?"
No, but you do get a nice Spiderman towel.
We can understand they're point, right? Interest rates are so whimsical these days, fluctuating between a nominal -25% to 0%, so they might as well pass this "hardship" on to customers.
I am perfectly inclined to blame this racket on Obozo as well, being that he's so stoopid with most everything else..
I shut my BofA accounts down when I found they moved the Merrill Lynch garbage derivatives onto the BofA retail operation's books so they could use customer funds as collateral, a sneaky/dirty way of getting some of the garbage covered by FDIC insurance. It should be illegal. Now I get free unlimited checking, including free checks and ATM fee rebates around the world, and earn interest on my checking (though it is a pittance). A year of free trades was also nice. And I use the BofA and other big bank ATMs, which are all over the place, to withdraw money from my non-BofA accounts when I need cash.
off topic
http://www.infowars.com/common-core-6th-graders-taught-how-to-use-strap-...
When you wade through all the derivative bull crap, and look at the modern banking and modern economic system as a whole and how the profits and real flows of resources and labor and energy get useful work performed, they were all predicated on growth and a surplus energy dymanic. Now that this precondition is in question and under stress, so is everything else, and hence the change in the business model. These are not your fathers business models anymore.
Link gone. Even Alex had to rethink that one.
How are you doing with the drought? If you wanna move I live in northwest Oregon :-)
My lawn is brown and my car is dirty :-(. However, we have lived through this before. In the past, they used to completely ban car washing. Now we just have to use a shut-off nozzle or go to the car wash. Oregon is certainly pretty and maybe someday I will retire further north. I know quite a few Californians that have been retiring to Oregon,Washington, and to the southwest. Since I don't care for the extreme heat, north looks more attractive. And not having to worry about water woudl certainly be nice.
californiagirl - i am former ml guy. it was a shame, but stanley o'neal brought us down and there were MANY people telling him not to do what he did. many. they were all shot in the back. i do not know how many people know about this move by BAC that changed the holding companies, but it was nasty, and i suspect 'good ole warren buffet' was the guy behind doing it.
the real consequences are peoples deposits disappear to cover the derivatives losses, in theory, the treasury will hand FDIC printed money from the FED and everybody will be made whole. the only real inconvience is how long that takes to transpire, in the mean time, you might miss a mortgage payment etc.
my mom had 2 ira's with them at the time, we moved them. not because the bank moved to is any better, but, i'd had enough.
few people really know how slimy this game is. credit to you. i wish everybody was half as informed, it would not be allowed. too late now. it's end game.
Hi Lofsoffun, thanks for your input. I have worked with a myriad of Wall Street bankers over the years on IPOs, M&A, bonds and other transactions. Some of them were decent people, including two from Lehman Brothers that I worked with on multiple occasions. I even met one guy I liked at the Squid. I have to say that observing one of the ML bankers literally sleeping, with his head on the table, while the rest of us were checking the prospectus documents and a room full of lawyers were billing $1,000 per hour each, did not exactly leave me with a favorable impression. I don't recall working with ML again after that experience. Unfortunately, many of the bankers I met were not exactly ethical, to put it mildly. It is nice to hear that many in the ranks at ML recognized the corruption of their upper management. I thought perhaps the likes of the FED and Buffet were somehow involved. Good to hear I am not the the only one. Buffet is a shark who, for some reason, the media likes to portray as angelic. I also suspect that Buffet, among others, are behind holding up Keystone. Perhaps he made a trade with Bernanke and his puppetmasters, offering his $5 billion BofA warrant bailout in exchange for delaying Keystone indefinitely. He stands to gain the most financially if the pipeline is never built and his trains have to be used to move the oil. Didn't he close on the Burlington Northern acquisition a few months before the $5 million warrant deal? Also, look who he pals around with and entrust his money to - Dr. Evil (Bill Gates)! Two peas in a pod.
BTW, I have to credit Tyler with educating me about those ML derivatives. This is one of the non-MSM websites I read in order to stay informed. The first time I stumbled upon it and read about the Squid's SLP rebate churning, flash trading, and other HFT scams, it was like shock and awe. I had no idea this was going on.
i did 11 years with the squid. it was different. that was a long time ago.
they worked harder and were smarter than most others and that should be easy to figure a way to get an edge and make some bucks.
in earlier times, you did not bleed your client to death. there was always a way to make money, even just based on being wholesale, buying in bulk and sell to retailers. not a lot different the being wholesale shoe salesmen. and besides selling you something, lending you $$ cash, of course they were borrowing big cash, they get a lower rate, lend it to you, you pay more. it was easy. and they still made plenty.
there were times that i simply had to say 'i'm not doing or being involved in that'. and they backed down and found somebody else (or in a few cases didn't do it) and i saw other instances where other people did the same thing.
and i followed as the young ones came in, and the changes, and what they did or did not do and how they behaved.
it changed when lloyd took over, was headed that way with others, but got worse. the real greed kicked in.
this should be an eye opener - i think you have the smarts to understand it.
http://www.occ.gov/topics/capital-markets/financial-markets/trading/derivatives/derivatives-quarterly-report.html
True story.
Wealthy friend had enough of BAC's shit. Barged in and ordered them to close the account, give him a check. They hemmed and hawed, and he finally walked out with a check.
The following month, he got a statement, for like $25.00 in fees. The fucking fuckers had left the account open with a penny in it. He caught it, and set it right, but how many don't. A lot of wealthy have bills paid by assistants, etc. I can only imagine how much they have fleeced with this little ditty.
Fuck Bank of America.
And I have my own reasons.
When I shut my BofA account down, they also tried to charge me a fee because my daily balance would be below $1,500 for that one day on which I was closing the account. They reversed it after I began loudly complaining about all the terrible things BofA had done, and continued to do, loud enough so that other customers could hear me. I also got a prorated share of my annual safety-deposit box fee refunded, though that wasn't easy either.
Yep, same thing happened to me twice with the same fucking account, I raised holy hell and they reversed it.
The shit is systematic and corrupt, but we all know that by now!
Same thing happened to me when I closed out of BAC. In another story, I fought with my daughter for years about her not getting a credit card. She finally did get one but quickly learned they're not a good thing. She paid it off but left it open. She goes to basic training, AIT, and then airborne training. During her 1 week of leave she goes to use the card and it doesn't work. Asks me if I canceled it because I had taken care of her financials while she was at training. I say why would I cancel it because there was no balance. She calls them and they say, well you didn't use it for 6 months. She tells them she was training for the military. You figure they would flip it back on? Nope, but she could reapply. She told them to stick it. 6 months of no activity gets you canceled??? I am starting to believe people are buying groceries with credit cards.
Yes, I've seen people use credit cards to pay for groceries, but since EBT cards look like credit cards, who's to say?
People are most definitely buying groceries on credit (and debit) cards. I see it every week.
No people in Europe bank with them. It is (mainly US) Corporates and hedge funds
They have one branch per country http://corp.bankofamerica.com/business/bi/emea
"We may charge you"
CHARGE US? FOR WHAT? HOW MUCH??? Damn cretins.
Last one to the bank branch is a rotten egg!!!
The last one to leave 33 Liberty Street (Liberty Street, those federal reserve jokesters, just like putting Andrew Jackson on the Hundie) please turn off the mf'ing lights!
Ermmm, He's on the twenty. Benjamin is on the hundred note.
The Hundred is the new 20, thanks to the Fed, hence my lapse.
US Dept. of 'Justice' has a message for Bank of America: "We won't charge you."
We are sitting on (somebody stop us) several warehouses of product so just give us a call. Whoa, whoa, whoa, these are to protect Democrat trousers? Uh, we'll get back to you...
What makes you even think B of A would even send out any notices to depositors? Little "folks" would have this slipped into some other paperwork that never gets read or bury it in fine print...I told you so. This is only for the big kids in the playground. Lies and obfuscations. And I really wonder why my keyboard and mouse are acting strange when I comment here....hey NSA? CISA? Need an epi-pen for allergies to free thought?
Yeah, voting for the Republicans will surely fix it...
"If you have any further questions blah blah blah blah blah...."
Yeah I got lots of questions. There are thousands of people on this website with hundreds of questions. But it really only could boil down to under 10, if pressed. And really only ONE.
But if the ultimate triumph of sanity pervails the ONE question will smack you in the face quite soon. IMHO.
So now what, will BofAML customers move their money to the US? EU can't allow that kind of capital flight. The only way to balance the global financial shitstorm is for the FED to go NIRP too?
Gold is getting slammed for a reason. The taper ending will be replaced with NIRP mark my words.
The average person can't move their money to the US. One of my kid's lived in the UK for 2 years and it was difficult to even buy gift cards to UK businesses. The governments are afraid we are laundering money $50 at a time with gift cards.
my roomate's sister-in-law makes $72 hourly on the laptop . She has been out of a job for 6 months but last month her payment was $18482 just working on the laptop for a few hours. use this link... www.payvalt.com
Sweet. I have $1 I can float them.
How much?
Before my IQ sinks any further let's do the long hand math.
I put $1 of my hard earned cash into your bank...so how long before not only your Oct. negative % kicks in does my deposit evaporate. I month? WAY LESS.
But it will be faster due to the "fees" already in place. I have savings and chequing accounts that every single month get hit by "fees". Savings account is roughly $15. Business account is out of control.
I set foot into the branch maybe twice a year. Ask them for nothing. Do my banking online....get charged first by Internet provider and then by the bank for online transactions. This now becomes a cash cow.
And I deal with a Credit Union.
So the only way I can figure this. Banking online is encouraged in Canada. BUT online transaction/ATM fees re subsidizing the human personnel and facades.
I am no fan of Bitcoin. I am no fan of taking all commerce into the internet because we can see how responsible and private that is.
I also understand that a company needs to cover costs. But banks/credit card companies are really milking everything already.
I have one credit card since 1990 with a preferred % rate. Just got notice that we are going to 19% next month. WTF? That's what you get when you pay off balances it seems.
MY POINT? Banks are reaching for every milking dime left. My credit card is going from Prime + 1% to 19%???? In anticipation of what?
Enough. Monday only and it seems like it should be "happy hour Friday". Charge me for giving you my money??????
I feel your pain. As somewhat of a palliative, I'd like to recommend Mark Helprin's novel, "Memoir from Antproof Case." An amazing piece of writing. The protagonist becomes an investment banker andshares many insights, including how the banks decided to charge a fee for everything and fees for collecting fees, etc. And there's a related scene that you may find gratifying. 10/10, I can't recommend this book highly enough.
http://www.amazon.com/Memoir-From-Antproof-Case-Helprin/dp/0156032007/re...
peace
"Float them a dollar" is accurate.
Now that deposits are actually tenuously secured loans to the bank in question, those that bank with BofA are having a fee/charge placed on their loan.
"At Bank of America, we not only accept your loan, but charge you for it!"
...and the line of sheeple go (((((( baaaaaaaaaaa ))))))
"look mommy.. those sheep have big boots on their rear legs!"
Hook Line and Fleeced
Seizure.
It's what's for breakfast.
Strangely they did not offer to transfer it to somewhere else, BoA Asia perhaps, where the charges may not apply.
We also may bail-in your funds at any time. Any more questions?
Shut up and take my money.
"In the New Normal the Bank holds you up...
Best way to rob a bank is to own the bank.
(I know everybody knows that, just a newcomer kicking the tires.)
Yes. Could you please tell me more about that range of liquidity and investment management solutions? I like a bank that announces it will rape me but at the same time is happy to look for alternatives to help me mitigate the effect of being raped. Will they simply propose another orifice?
Scoundrels, these bank guys, you say? Come one, it's not even their fault, it's those naughty current market conditions.
I can't wait til we have our very own Bank of Europe to deposit my hard earned money on an account.
Aaaaand... it's gone.
Just the tip, honest.
The secret is, multiple small rapes don't hurt as much as one big one.
That's why the Democrats are so pissed over Obamacare. That's nothing but millions of big ones, and doesn't discriminate by political party.
Things look different when you're the one getting screwed big. The only difference with the Republicans is that they saw it coming.
Can I get a negative rate mortgage?
Didn't think so.
Sure..if you're a regulator or work for Fannie Mae or Freddie Mac...
Mrs. SWR says that would be an "Obamahouse".
Imagine the principal I cod carry with that. The only limit would be how much house that exists. $132m is the current record I think.
OK, it has been a while...."fuck you" bank of america. A whore house of lying crooks.
Oh, and they are mostly idiot attorneys and their stooges all telling each other that they do good work when they know they are doing evil work for evil people.
What moron keeps their money with BofA?
Anybody stupid enough to have money at a BAC branch is also stupid enough to not take it out after being charged interest on a deposit.
There will be limits on that when the flood starts.
Might want to buy some metal, maybe?
BAC can be hard to escape. I refi'd my mortgage, BAC immediately bought it back. Out and then back in again. I didn't even get a bill from the other bank before I was brought back into the fold. So after several rounds of this kind of crap, I am resigned to park some debt there. Needless to say, my savings are elsewhere. However, it's pretty difficult to find a place to park your money these days that could be considered safe. I haven't found such a place yet anyway.
A good, strong credit union is our last line of defense. After that, it's the mattress.
Well that's a new and creative way to take my money. Thanks BAC! Thanks Draghi! I'll be sure to move my assets into equities just in time for the big boys to cash out and..... on second thought, how much will it cost me to keep it in a NIRP account.... lesser of two evils....
How much do we have to pay for the privilege of using their credit as our money? Better yet, is there a corresponding market force that would actually limit their ability to charge as much as they want for the privilege of using their credit as our money? No, it is therefore a monopoly and we pay the bank to use monopoly money.
We did hit peak intelligence quite a while back.
The charges will be higher than the amount imposed by any negative rate.
BAC will profit from dissemination of the NIRP imposition.
You 'Folks' didn't actually think that BANKS were going to pay the costs of financial repression themselves did You?!
The Banks are merely conduits of .GOV. NIRP = stealth taxes...
Damn, my .0001% credit union savings rate is looking better all the time!
If this hits America, I don't see how the credit unions will be able to pay anything in a negative rate envirioment. It will be a run on the banks and probably the end of our society, or the end of the way it looks and works now.
I worry that the average Joe has not woken up to these facts and when he does it will be to late. People on this blog joke and cheer on the end of our society but I seriously doubt any of them have lived in a country in that type of unrest. It is nothing to wish and hope for and only a childish fool would do so.
You have much more faith in people than I. If banks start charging a fee to keep deposits, I expect some groaning, but nothing more. The charges will start off small, and just be written off as the cost of doing business.
BTW, I was being a bit sarcastic, as .001%, or whatever they pay, is as close to nothing as you can get.
It's a cost of doing business just like 3% credit card transaction fees, or 2% check cashing fees.
People will put up with it.
We saw how effective #occupy was at stopping the banksters. (sarc) so NIRP will unfortunately go full steam ahead, because resistance is compromised and is effectively crushed.
Public banking is starting to look really really good.
http://www.publicbankinginstitute.org/home.htm
Can't wait to see what comes after "liberation" of whatever wealth/assets, and/or value thereof, everyone still has. As if being between the millstones of inflation and taxation wasn't enough...
We have reached peak retard surpassing yesterday's peak retard only to be surpassed by whatever even peaker retard tomorrow will bring...
There is no such thing as "peak retard".
Retardation is infinite.
Now all the foreign money will be pulled out of American Banks.
The goal of this exercise is to drive money out of European bank deposits and (at least partially) into US banks (or more accurately USD). Using BoA in the EUSSR was a bit backwards, but since 'murikans don't tend to speak European languages - it's convenient.
(sheeple money don't amount to a hill of beans compared to institutional money)
This letter was addressed to North American depositors in Europe-- not Europeans. Still a harbinger of things to come, but this likely went out only to the "special" customers and not accounts they don't care much about (i.e. most account holders). Those people will probably just start seeing mysterious charges every month.
Going bankrupt.
NIRP Bitchez
anyone who leaves any significant portion of their debt coupon dollars in one of these sociopath led insolvent Moneychanger institutions deserves any ass fucking they have been getting on "a long enough timeline...."
get and save in Physical Gold or Silver in ur own possession or fuck off....
STOP PARTICIPATING IN UR OWN ENSLAVEMENT........
Its the only way to withdraw large sums from the system without alarm systems going off.
If you do a circle jerk thru' several overseas banks you can cover your tracks , and still get
undocumented delivery in the US.(so I'm told).Long shovels.
Still gotta pay bills with either a check or AcH withdrawals.
Do you think I should get my ass raped because I can't coveniently walk from Texas to Vermont to pay bills with the silver eagles stuffed in my backpack?
Negative rates in themselves you would think might cause a crisis.
Here in USA it won't. People have "direct deposit" and everything linked into their bank accounts. Unless that changes they will accept the fees.
After today's action I'm quite sure US Fed language will remain the same.
All a "negative rate" means is the Bank cannot deposit their money at the ECB or SNB and get free money. In other words those "Federal Reserves" charge a custodial fee unlike in the USA where you get free money if you're a Bank plus a huge bonus for never lending to anyone.
Ever.
FORever.
The irony...nay, hilarity...that Wall Street has been soaring on the news of M2 flatlining going on five years now should be lost on no one. Instead it seems to be lost on everyone. Do I buy or sell here Wall Street?
"Yes We Can bounce that check!"
"Forward to bankruptcy!"
Seems like a surprising answer from the nation's "fiduciary."
Not so subtle a threat, there are many euphamisms that the Bank of Amigoz could have used. Instead they say: "... how this may impact the deposits you hold with us."
An implicit threat: the deposits you hold with us, but perhaps we'll notify you that that circumstance will substantively change.
- Ned
{we know many people who have anticipated this situation within their banking side and have said: "AMF" or somethin' like that}
{I still miss Rosie at ML and ML not being raped at shotgun-point through the forced merger, after all, how many "marriages" are accomplished in 38 hours?}}
If this is not the begining of the end of the world I do not know what it. Going to order more bullets for my AR15 now and adding to my all my 3X ETF shorts on the world stocks markets. Goodnight!
My 3X ETF shorts are not doing so well, but there is plenty of room in the pool.
And if you haven't been buying AR15 ammo over the past several months as supply and prices have improved, yes you might want to place that order STAT.
If this is not the begining of the end of the world I do not know what it. Going to order more bullets for my AR15 now and adding to my all my 3X ETF shorts on the world stocks markets. Goodnight!
So they want a negative interest rate on an unsecured loan?
This is B of A's new European marketing plan, sounds like a winner, and no doubt will find it's way to the USSA in the not too distant future.
Me thinks when you send a.letter to customers.to let them know they're about to be paying interest instead of earning it, the word "solutions" should not be anywhere in the communication.
A solution would be streetlamps decorated with strung up bankers and politicians.
I suspect the other major European banks will have to follow suit in order for this to take hold.
Charging you to hold your money in binary form on a database - while not paying you any interest on it. Brilliant.
This homunculus would not be lurching around without Central Banks creating it and feeding it.
It is theft of savings, labor, and the future.
End the FED!!! End all Central Banks!
Inthemix96 needs to add some "fuck you cunts" in here somewhere.
I prefer to Save the Fed, Federalize it! The sheeple would rather save something they don't understand than end it?
So banking now is essentially akin to being paid to gamble with our savings. IOW our savings accounts have become hedge funds. Ok got it.
Liquidity and investment management solutions lol....
You mean Quantative Easing and BAILOUTS!
LOL and big balls.
Under fraudulent-reserve banking, the banksters steal your deposit and then steal more from you when they "print" the loan-money they loan out to their loan customer victims. So they have have stolen from all of us at least twice, but are now going to charge us for the privileged.
An American, not US subject.
"Guillotine the Fed!"
What is new about this?
We get charged monthly fees in Canada for checking accounts, it's been 10+ years already
Lol. That sucks...
http://www.tdcanadatrust.com/products-services/banking/accounts/chequing...
Wow. And with all that Great White North to bury it in instead, too....
So let me get this straight..
If I perform an overdraft on my bank account, will my account draw interest?
With NIRP we are all through the Looking Glass, so interest earned on overdrafts makes sense.
Try it. Let me know how it works out for you.
Do they want to cause a bank run?
"On the basis of a potential scenario, the key shareholders and depositors of special privileges, who will have the suitable access on "inside information" about an oncoming banking crisis, will have the opportunity to withdraw capitals and deposits on time, leaving the rest, therefore mostly, small depositors and independent shareholders, to pay the bill."
http://failedevolution.blogspot.gr/2013/07/why-banksters-laugh-with-rece...
Coming attractions always suck.
To a bank near you.
Probably wont be the only bank.
They all follow the Dons.
Maybe a Credit Union?
Maybe gold and silver?
Who in the right mind would even consider opening a account with BOFA?!
Don't they read?
I'm planning to traveling to Europe sometime in the next year and a half to study the French revolution. Seems like pretty good timing.
All the letter says is "we may charge you." It doesnt say what the customer will be charged, how much, how often, it doesnt say anything. And thats a problem. BofA left the charge clause open for a reason; they havent yet figured out all the ways they are going to fuck their customers. Charge, indeed.
Glory. The banks themselves will cause the bank runs. Dumb or what?
Funny!
What the shit !!! How the m can dare that !!!
It was just a test. Sorry
It is almost like they want a bank run to occur...
Well, getting a fucking bailout was so profitable last time...
do I really need to say it?
ya gotta' think back to suck u shooomer and indie bank
then ya gotta shit ur pantz
- Ned
Let's put this in plain english so that every working man and woman can understand economics.These basturds in the EU are going to print over a trillion Euros and try to inflate everthing upwards.On top of that,it means that if you leave your money in the bank,these assholes are going to nail you big.That's right,money is becoming so worthless that if you try to save it and keep it in a bank,these crooks are going to debit you a lot for keeping your money with them.Charge you money,get it.Keep it in a tin can.Sounds strange?It's part of what's called "negative real interest rates".In Europe and America they are going to do what China is doing and when it inflates really big,gold always does well in an inflationary cycle,just like the 70's.It's already starting to show up in food.Believe me,politicians will take the easy way out,they will print,print,print.
I've seen this before. A Canadian bank charged me 25 dollars about 20 years ago to withdraw money from my RRSP. I asked the manager and he said they could charge fees per the agreement even though no fees were specified. I asked him why they weren't charging me 1000 dollars.
" in light of the current market conditions" ... (like we're bankrupt!) .... we're going to loot everyone else to try to remain afloat for as long as we can !
there's only one place to run in this historic fiasco ! / make your bunker & stock/stack it!
This should be another wake up call for anyone who has more than a few dollars in a bank. It will be taken from you. Let me list the ways: fees (stated & hidden), bail ins, bank failures (if you think your money is insured, think again), and of course, dollar devaluation.
Here is my humble plan on how to protect yourself: PM's; real estate (income producing and/or foreign), currency diversification (Singapore, Hong Kong), and of course stashing some greenbacks under your mattress (or someplace safer on your property).
In terms of foreign currency diversification Hong Kong is my favorite play, given its peg to the $US. I know it sounds counter intuitive to invest in a currency that is pegged to the currency your trying to protect against, but it makes perfect sense. It gives you short term protection in case the $US rises, but if the $US starts dropping like a lead balloon, HK will cut it's peg (nothing stopping them, and they don't want their $ to fall off a cliff with the $US), which will give you appreciation against the $US and maintain your purchasing power.
Just my opinion, for what it's worth.
"new £1 coin, billed by the Royal Mint as the "most secure coin in the world", is to be introduced in 2017.
The move comes amid concerns about the 30-year old coin's vulnerability to counterfeiting, with an estimated 45 million forgeries in circulation.
The new coin is based on the design of the old threepenny bit, a 12-sided coin in circulation between 1937 and 1971"
the 'pound' is now the value of a 'thrupenny bit'!!!
Sounds like everyone should pull their money out of the bank and buy something portable, liquid, and internationally traded.
Now I wonder what that would be..........
Due to zoning issues, I can't keep a lot of oil drums on the homestead...
Cooter, I think your strategy has some merits, however get informed on your state laws first, here in California there are many documented cases of the state taking over sdb and bank accounts which didn't have any activity for a while (forgot after how long, somehow 5 years time rings a bell).