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If This Doesn't Convince You to Exit the Global Banking System, Then Absolutely Nothing Will
Today, bankers all around the world are making it more and more difficult to withdraw more than $3000 or €3000 per day, and simultaneously making it impossible to pay for, in cash, any item with a price tag in excess of these levels. Though most people are not questioning why this is, this global banker movement to ban all cash transactions should be interpreted as a clear and present danger to the purchasing power of everyone's lifetime of accumulated savings. If you're still not convinced, then think about what the Carbanak theft of $1 billion from global banks truly means. If we investigated how this hacking group accomplished their theft, we would discover that, at times, they even hacked into bank servers to create currencies out of thin air before transferring this newly created currency to themselves. The fact that these hackers could create currency that did not even exist on the bank's books and then steal it should compel all of us to ask ourselves, "Do we really want to hold the earnings of our cumulative lifetime of labor in digital currencies that have intrinsic values of nearly nothing?" If we realize that bankers can store tens of millions of currency literally on just a few bits on a hard drive on their bank server, and if we understand that we can purchase a 5 Terabyte Western Digital hard drive that can hold 40,000,000,000,000 bits on Amazon for just US$179, then we really should question why we believe that digital bits will ever preserve our lifetime of savings for the next 10 years, or even for just the next 2 years.
It seems that most of us have already forgotten, quite conveniently, that banker digitalization of payments for our labor allowed bankers to easily steal 47.5% from all Bank of Cyprus accounts greater than €100,000 just a couple of years ago. With our compliance with such actions and our and acceptance of digital bits for our labor, as noted today here on ZeroHedge, Bank of Ireland bankers were recently able to ban withdrawals of less than €700 from all of its branches with little protest and relative ease. While most of us would realize that something sinister is afoot right now in the global banking system if we merely diverted our attention away from the Sunday football game or the Game of Thrones episode on our TV for just 10 minutes to think about these issues, unfortunately, the vast majority of us still do not ever stop to think about the meaning of such events.
In an attempt to prod everyone to really consider the meaning of such events, without further ado, I present to you, our latest SmartKnowledgeU_Vlog_0010: "If This Doesn't Convince You to Exit the Global Banking System, Then Nothing Will!"
Additional reading today: "Is this the Gold & Silver Mining Stock Washout For Which We've Been Waiting All Year Long?"
About the author: JS Kim is the Managing Director & Chief Investment Strategist for SmartKnowledgeU, a fiercely independent research, consulting, and education firm that focuses of analyzing banking & investment industry fraud and manipulation as the primary tool in formulating wealth preservation strategies to yield positive returns during the escalating global currency wars.
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This is why I cash paychecks and feed my checking account hummingbird sized portions as needed
1oz Silver American Eagles €12 @ EurGold
https://www.eurgold.eu/silver/silver-coins/american-eagle-1oz-silver-coi...
1oz Silver American Eagles €12 @ EurGold
https://www.eurgold.eu/silver/silver-coins/american-eagle-1oz-silver-coi...
There are still plenty that remember the Cyprus "haircut". Which is more appropriately called grand theft and grand larceny along with conspiracy to commit those crimes. As proven by the letter below denying it would happen a day or so before it did. It will all just happen again. And again. And again. Until they realize the price they have to pay to do this again is too high.
As I reminded Greece (link below) they, along with most other economies with massive debt (i.e. Ireland, Spain, Portugal, etc) will be up next on the chopping block unless they do something about it. Iceland is off to a good start but they've fallen short in many ways for what needs to be done.
Eliminating cash for whatever false reason claimed is just another means of force to use Bank services while eliminating employees and increasing profits. Banks know they can be practically eliminated from the monetary (actually debt) food chain. And since they work hand in hand with the endless layers of criminals in government and above (honestann likes to call them "predators") they could not care less how it affects anyone. Banks are just another form of parasite on the planet and sucking it dry of every speck of power, energy and control you'll give them.
End as many if not all bank interactions, close accounts whenever possible, eliminate credit cards and debt, barter, trade, exchange, or use alternatives for debt currency whenever possible.
http://www.zerohedge.com/news/2015-08-17/greek-deposits-become-eligible-...
it didnt receive as much coverage as cyprus, but a few years ago Poland took 50% of their citizens Superannuation (IRA) accounts overnight.
And there was another eastern block country that did similar - cant remember which one
The Bankers do this all the time, making money out of nothing. And, as the song goes, 'nice work if you can get it...'
Take a look at that dumb white sweaty cunt Yellen - we are so fucked
White? I thought she was Jewish.
Nobody has any money, so what's the FUCKING DIFFERENCE?
Speak for yourself, peasant! I have money.
So how much cash should one feel comfortable holding under the bed or buried in the back yard? Is $50K a good number?
Hold a million as long as you think it will retain some value and if you have the "iron clad bullet-proof" nobody will ever find it hiding spot. Easier done if you are a homeowner with a bit of property. Apartment not so much. Good luck.
"By design, I'm sure. They've made it nearly impossible for a normal guy like me to do this. There's no way I can pay cash for all of my monthly bills and transactions, as many of them are located out of state. I have to either write them checks or pay them online through their bill-pay systems."
Easy way around that, if you do not mind the hassle,use Western Union MO's or similar, $0.49 a piece.
With all the deadbeats that hang around the spots that are WU, how often with how much cash in pocket does and individual continuously flash before getting knocked in the head out in the parking lot?
By design, I'm sure. They've made it nearly impossible for a normal guy like me to do this. There's no way I can pay cash for all of my monthly bills and transactions, as many of them are located out of state. I have to either write them checks or pay them online through their bill-pay systems.
I posted about this very issue in an earlier article... guys and girls, if you have any chance to get our hands of physical gold, do so now. You may have thought I was nuts and peddling some bit of a scam.. but this article vindicates me... we have a great idea..small weight bullion, tradable, useable, valuable and most of all hideable!!
This is why I do what I do... I educate and highlight to people the absolute necessity of owning physical gold. (even physical cash is unsafe over the long term) Many people are beginning to understand and this is manifesting in increased gold savings. If you are reading this and you understand the absolute necessity of owning gold, and want to make a difference in your community or even protect your family and friends - get in touch with me.
there is a collapse coming in a magnitude like we have never seen before - will you be ready
www.teamramgold.com/about-us
No one has a problem with gold. It's you they don't like.
@lordflin.. i'm not interested in being popular..im interested in staying weathy
www.teamramgold.com/about-us
I am sorry... but if this was a response to my resonse it appears to be a complete non sequitur...
I used to be in kbars over a year ago, I did ok with it at first - I got quite a bit of free gold. I gave seminars around the area about monetary issues. I realized after about 6 months, that most people are just broke and won't follow through and are not leaders. Then I realized it's another ponzi scheme, if you don't keep the pyramid going under you the pay system collapses. It's all based on how mnay new sign-up you get, that's much more important than the gold they buy as the packages are very very over priceed, keeping the ponzi going. If no one get packaages but some people buy the gold ( which doesn't happen often), it all comes undone. I had long long times to wait to get the gold, like over 7 weeks as well. I'd be careful if I were you. They had card processor issues all the time. Word to the wise people here do not care about kbars. I get PAMP bars now. BTW I am personal friends with the highest selling person in Kbars, his name is Derek.
I agree with you on one thing, many people are duds and are basically useless (at everything). However thats not Karatbars fault, they only supply a product and a commission structure for people who sell that product.
Re the payment structure falling apart, you contradict yourself, in that you know a higher earner, but your income stopped... obviously you were concentrating simply on gaining more affiliates. This is appears to be the way its sold in the US. just get more affiliates regardless of their abilities.
In Ireland we took a much more savings orientated approach I have only a hand full of affiliates (ie. capable people) but between us we have almost 1,000 customers just buying a gram or two an month on and autosave - now thats residual income. I rearly mention the affiliate system to ordinary customers.
Bottom line is they have gold, I have gold and commissions, everyone is happy. And despite what some might say, Karatbars gold is no more expensive that anyone else when all is said and done
Finally, it is just a start up company, not everything is perfect...but for anyone looking to try a business with very little risk - i can think of none better. Oh an re the payment card.. in 18 months i never had a single issue...and I can tell you that card gets some use.
www.teamramgold.com/about-us
If one is truly convinced that the wheels are indeed about to come off, there is no better security than items that are barterable: guns, ammo, alcohol, food, etc. Gold and silver, while pretty and somewhat convenient haven't much utilitarian use beyond their perceived value. We have some of all the above. Not nearly enough to last more than a year, but I'm guessing that before the last wheel did come off there would still be a day or two to go run up those 10 credit cards at the local stores and buy whatever might be needed in the big crunch.
Hey I'm gonna trade some alcohol, guns, and ammo to my neighbor! Then I'll be surprised when he gets drunk and shoots me for my gold.
Hmm, best NOT tell yer neighbor about the Au/Ag, then! :>D
Be carefull about how much time you may or may not have. Some of these things happen over a week end. Make sure you have enough 25 year dried food for you and your family and enough ammo to defend it. How long an emergency can go on? I have no idea, but three months to a year of food is a great convidence builder just like a stack to siver. Eventually barter will diminish and something will have to be used as 'money'. Silver is better than paper or rocks for money. If stackers can last long enough through the chaos, they will be in good shape ... that's a big 'IF'.
Control the world's money and you control the world. Putin and Xi understand this and have had enough with trading their countries labor and resources for these profligate, worthless digital bits called "dollars". Many prefer not to trade their finite personal capital for these infinite digital bits either. The bankers will go after China and Russia and any person rejecting their "system". Just remember, real soveriegn wealth is hard to track and hard to confiscate.
This may be news to you but Russia and China both use their own worthless digital bits called rubles and yuan. They would gladly have you use their worthless digital currency in place of the worthless digital dollar. Have you seen a graph of the ruble or yuan money supply growth? It looks even more exponential than ours - including all the revaluations/devaluations.
Now it if I want to get a deal by giving someone ten grand in cash so they dont have to account for it, I should be able to. Whats the difference between that and corporations sending all the jobs out of the country for a "deal" to give us cheap shit? Wouldnt jobs lost cost the government more in lost taxes? FUCK THEM Two faced losers run the show and two can play these games.
Nobody on ZH has ever said a bank denied them their money. LITERALLY NOBODY.
It's true that they don't keep a huge amount of cash around. It is inefficient business and it attracts criminals. But if you give them a few days notice they will order what you need. If they don't, you just found out something important and you should close your account and take a check somewhere else.
Think about it logically and not emotionally. If you go to the store and ask for 1000 dozen eggs, they likely won't have it. They would be stupid to keep so much extra around just taking up space. But if you pre order, they will arrange a special shipment just for you.
Expecting that to be sitting and waiting for you at any time is just being clueless and immature.
So in return for paying me 0.005% interest on my savings, they won't let me have my money when I want it? Sounds like time to get all of your money out of banks.
The really hidden issue here is that you can still write checks over 3000 and you can still use an ATM under 700 -- but both things leave electronic trails that go outside your banks internal accounting system.
Point now is:
" Do we need banks anymore?"
Let's stop using them
it can be done very easily by everyone
- just keep a minimal amount in a bank to pay bills
- do not have your paycheck auto-deposited
I keep seeing the "stop using banks" mantra chanted on the ZH comments - and I keep asking, "okay, how does one really go about this? - Have you actually done it? If so, how did you get your money out?" and never get a reply.
My company (as is quite common) will not provide a live check - it's direct depost only - no other option exists, period. And please don't suggest "then quit and find employment with somebody that does" as it's not realistic at all. The hard fact is most employers only offer DD, and like some here, I have worked my ass off for the last 30 years, made sacrifices, hard choices, and did my best to scrape together a few coins that currently reside in 3 differnt banks. I know pulling a sizeable amount out will trigger a SAR/Mantis report - which has it's own concerns however IF I could even get $100k out of a bank (that's a big if) what to do with it? In ground storage? Fire proof storage? Water proof storage? Secondary / tertiary knowledge lest I fall over from a heart attack after working yet another 18 hour release having slept 4 hours the night before tending sick kids and my family has no idea of where the money is? To say "stop using banks" is as easy as typing the worlds - to actually do it takes some serious planning and comes with its own set of risks. I hate banks - I just find the thought of being my own to be a challenging one that in practice carries its own set of risks and haven't seen a great game plan offered yet.
I completely understand you, and agree with your points. You are obviously older and wiser than the predominant demographic that blogs ZH these days. I find myself gradually disengaging from this site's blog as it has become rife with brash, un-actionable advice from younger ones who haven't turned the corner yet into wisened old geezers of relevance.
SpinDrift, marked you up b/c I had the same questions a few years back.
The simplest and most accurate answer is: You will have to do your own research and thinking, tailored to your own circumstances.
Having said that, here are some points to consider:
<<The hard fact is most employers only offer DD, and like some here, I have worked my ass off for the last 30 years, made sacrifices, hard choices, and did my best to scrape together a few coins that currently reside in 3 differnt banks.>>
1) The system is deliberately designed to be difficult & intimidating to get out of. People have indeed, found jobs with small companies that do not insist on DD, or begun working for themselves, or even under the table. These ways are risky and not easy but they are possible. Your own circumstances will show if this is an option for you.
2) There are procedures you can take out to exempt yourself from DD, which generally involve exempting yourself from tax withholding. You will need to do research on citizen-sovereignty sites or pay for some top-notch legal tax advice to accomplish this. If you wish to read up on sovereignty you might start with You Are Law or Anna von Reitz's papers. This way involves considerable risk, including losing your job due to large employers discomfort with this approach. It is risky and not easy but it is possible. Your own circumstances will show if this is an option for you.
3) If you resign yourself to DD, you must accept the risk that your money will be held by the bank for a time. You can make that time as brief as possible by withdrawing all you can regularly, under whatever capital controls are in place with your bank. The risk is that you will be unable to withdraw some or all of it before you need to. So this is also risky and not easy (as you might have to withdraw every single day) but it is possible. Your own circumstances will show if this is an option for you.
<<I know pulling a sizeable amount out will trigger a SAR/Mantis report>>
See above re: difficult by design. If you are intimidated from your cash by government reporting, then the design has done its work.
<<In ground storage? Fire proof storage? Water proof storage? Secondary / tertiary knowledge lest I fall over>>
There are myriad places to store money, including investments, hard assets, overseas, various currencies, cryptocurrencies, remote stash locations, hiding places around the house, and "in the mattress"; far too many even to begin a specific listing. For example, I read of one pizza-maker who stored money for a time in a disused oven. Sovereign Man has many suggestions for overseas investment. As before, not easy and risky but possible, and here especially your own circumstances are the only points to consider. Start with a Google search if you really are stuck for hiding places yourself, but nothing you read on the web will be as safe as a place you have found in your own unique situation. You may also wish to read up on creative things people did in the 1930s.
<<To say "stop using banks" is as easy as typing the worlds - to actually do it takes some serious planning and comes with its own set of risks.>>
True. But rather than describing one or three of a myriad of personal plans, the heart of the matter really does come down to "Stop using banks." It is the one thing that all those innumerable personal plans - some worse some better - have in common. It is also easy to type words asking others to hand us their work and research, rather than go through the risk and difficulty of doing it ourselves, but the hard road is the only one open to take. Criminals in banks and governments have colluded to ensure that there is NO easy alternative. Many alternatives exist, and each is difficult & risky, and must be planned by ourselves according to our own circumstances.
<<the thought of being my own to be a challenging one that in practice carries its own set of risks and haven't seen a great game plan offered yet>>
Yes. You are very unlikely to see any game plan offered anytime soon, precisely b/c of the risks and personal tailoring involved. In fact, most people find the game plans I suggested above, very suspicious for just this reason. Until a reset happens - and probably even then - you will have to rely on your own brain and discretion to keep your own money safe. The fallacy is for you or most of us (who aren't paying top tax attorneys) to expect someone else to hand them a nice neat game plan, since those are exactly what the banks are trying to defeat. The only game plan you'll be offered, which is advertised as safe, is from the banks! Your thinking and the security of your money must come from YOU. And when you come up with your plan, you're best advised NOT to tell anyone else what it is even if you want to help them, especially not on the internet. The first step in taking care of your own money is accepting full risk and liability for it, which hopefully will ensure your careful research and a lot of good hard thinking.
We have been 'trained' by our dependence culture to let someone else come up with the plan and assure us of our money's safety. And this is where the banks come in: it's easy, it's planned out for you, and they'd like you to believe it's low risk. You have to begin with getting at least some of your money into your own hands, making that safe, and then building from there. It takes a LOT of work which no-one can do for you. It is not easy taking care of money and despite the lies of the last 8 decades or so, in fact it never has been.
So, we are back to: You will have to do your own research and thinking, tailored to your circumstances. Not sure you'll even see this answer since the thread may not be active anymore, but I thought I'd at least take a crack at it, since you are asking the same questions I was when I started my own work on securing my wealth. The whole key is to quit relying on other people's thinking, and to throw away any idea that securing wealth is simple or easy. You will have to accept that ANYWHERE you put your wealth, is risky. For most of us, it is such a daunting task that it takes a very real fear of banks even to get started; but once we do, each step is tremendously liberating.
Ren,
I've read your reply twice and have saved it off for a later time when I can fully cogitate on it. I am grateful for the time you took to reply, for the advice supplied, and agree with all points you made. It is wisdom that I should not seek a plan designed by others and allow them to do the thinking for me; that is merely an extension of the indoctrination so pervasive in our financal culture. I have a lot to unlearn while walking the road to financial self-direction but your post has inspired me. It's a daunting task at my age with a young family and seemingly all flanks under heavy attack at all times but even dripping water wears down a rock over time so....step by step.
Gems like your response are the reason I keep coming back to ZH and reading the comments; these days I tend to find more value in the comments sections than the articles themselves.
Thank you for the inspiration.
~ SD
Let's not over think this or spaz out in fear. Keeping your money in a US bank or credit union up to the $250k insurance limit is fine.
By the time the US goes under, the whole world will have gone "Greece" already. Companies of any size have millions in banks and their business would be in serious jeapardy. They would be forced to lay off workers and the economy would crater... gone Greece.
If you only have a few thousand, go ahead and take cash. Supposing your house burns down or your hiding place is compromised by theives, you didn't have much to lose anyway.
If you have multi millions, having lots of $250k bank accounts becomes a problem. You should have paid off real estate or other hard assets that will hold value under high inflation. But there are no guarantees as under high inflation the economy may be in ruins for a few years.
Don't listen to the folks saying stock up on beans and bullets. Have a reasonable stash in case of emergencies that can last a few weeks. If Japan, the UK and most of europe start falling like dominoes - that is the 18 month warning that the US reset is coming.
All of this is one man's opinion.
Empty your accounts every month.
Then the 'police' come and seize all your cash since it could fall into the hands of terrorists...
FUCKING PIGS Squeal like a PIG!
A bank obviously heading toward 'bail in' or simply failing. Wanna take your money $500k life savings out? $3k a day.
The idea of the limit is to limit bank runs and stop large groups of people moving their money out, so they can bail you in.
I have already split my cash between two banks and bullion, and will look to split again to another bank in the hope if you keep your balance low enough it wont get confiscated for bank shares. In Australia the govt did have a $250k guarantee per bank per account, since expired. But sort of indicates the level TPTB think in.
Australian banks safe as 'houses'. Yes, until houses are no longer safe. There is no such thing as never, and I recall in market crash decades ago one of Australia's major banks was on the 'verge'. I know I was in it.
as far as i see, the 250k deposit insurance is still active in australia
Im debating whether to liquidate my IRA. In the US. These guys are dangerous and they sure as hell arent honest. Even with the penalties why wait for the rush?
Did it in 2010. Not as gut wrenching as you might think.
The 'funny' thing is, the US Congress & others have had the ability, (in the face of the crash of 2008 & even before that), to waive that 10% penalty IRA cash-out.
Oh, but minimally 30% wipeout of all IRA principle in 2008 was just too good to pass up.
Instead we got the $700B swindle (TARP), and the subsequent Franks-Dodd Act or whatever else they, and I do me THEY could come up with.
I'm glad some of you had the ability to take the hit & cash-out anyway.
I didn't have an IRA & still don't, I cashed-out my savings & checking account back when the soccer-star from France was clamoring for everyone to do just that. I asked my local banker at the time, how many others at that time, participated in the solidarity movement, she said I was the only one from her bank.
There are those that ask for solidarity, (in various directions) but if you participate, most things like that are independent actions, I cannot count on 'the citizenry' for anything cohesive, that will actually persuade the US Congress & the like, to do their job responsibly.
We don't call it the New Normal for nothing.
wwxx
Agreed. I too did that a few years back - guy on the phone tried talking me out of it - I just kept saying I enjoyed paying penalties and taxes as it makes me feal patriotic. Took a day or so to proceess the sell order which cost me a little due to market shif, but after the 10% penalty and income tax estimate (I had them take out a large chunk to cover all of that so I didn't owe at the end of the year) it landed in my account and that was that. I can't recall if I had the option of getting a live check..might be worth doing if its still an option. I'd like to cash an $80k check and demand all $50's Never looked back after that and never regretted it.
Me to, stacked it all in .9999 silver, even at $21 physical then, I feel safer now.
Im thinking it will give me piece of mind, thanks for the reassurance! A bird in the hand = 2 in the bush.
Time for all cash and PMs
Taking your wonga out of the banks is giving them a piece of your mind.. and giving yourself peace of mind. ;
If we could just get everyone to do it on the count of 3 we could change the world, literally. Lets hope.