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Posted: 4/27/2016 1:08:57 PM EDT
[#1]
Quoted:
I was uncharacteristically listening to Glenn Beck this morning and he was talking about this. He said that he had an expert (I guess on his TV show??) saying that the banks have already lined themselves up for another derivatives collapse, but that this time they have planned ahead. The short of it is that the banks have changed their bylaws so that when the next derivatives collapse comes, the banks will use the money on hand from their depositors to pay off these investments, and then the depositors will have to get in line to ask for money from the FDIC. When this happens the Feds will start printing money like crazy, inevitably causing massive inflation. Apparently this expert was saying that by taking the money out of the bank you get flagged by DHS and they can come after you to steal your money through Civil Asset Forfeiture (which I know is real), so you have to keep all of your banking records and pay stubs with your cash. Normally I wouldn't worry about this, but I have heard of this bail in change before, but I don't know how reputable the sources are. My question is simple; is this an actual threat to my money in the bank that I should be seriously taking steps to protect myself from, or is this some kind of hysteria trying to freak people out and sell gold or something? In my opinion, it's rubbish. It's always possible, sure. Read about hyperinflation on wikipedia. Very interesting stuff. Zimbabwe printed so much money that you could take money in the morning and buy a bike, but that same amount wouldn't buy a loaf of bread in the evening. Expert is a very broad term. That last time I watched mainstream news they had a black Political expert on named Dr James Manning. He is a Dr in theology from his own church's college. Google his obama rants on youtube. When i read his background, I never watched mainstream news again. Diversify and don't worry about it. Have you ever met a successful person that was "waiting for the eventual collapse"? Nope, they are focused on making money and shielding themselves from risk. We will have another banking "collapse", great recession, whatever. Period. That's the cycle of the economy. Hyperinflation? Sure, maybe. What can I do about it? |
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Posted: 4/27/2016 1:23:23 PM EDT
[#2]
If that ever happens everyone is fucked globally. The soccer mom harem is just about a week after that.
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Posted: 4/27/2016 1:37:58 PM EDT
[#3]
They certainly are making it undesirable to keep money in banks. We're at incredibly low or negative interest rates, and the limitations upon withdrawals are daunting.
In investment plans, they've done a good job of eliminating all of the cash equivalent funds except those based upon short term government debt. So if you have a self-directed IRA and sell a stock, the proceeds go to buy government debt until you move the money elsewhere. You don't have a choice, it has to go there. |
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Posted: 4/27/2016 7:29:46 PM EDT
[#4]
When has Glen Beck been right on one of these predictions? He does this for ratings.
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Posted: 4/27/2016 7:42:21 PM EDT
[#5]
Depressions and banking collapses happen irregularly, from every decade to once every couple of generations.
It is inevitable that they will happen again...and again...and again. As for hyperinflation as a response, that is probably a better solution for the Hated Rich than deflationary collapse. When something can't go on forever, it will end. |
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Posted: 4/27/2016 9:47:51 PM EDT
[#6]
" taking the money out of the bank you get flagged by DHS and they can come after you to steal your money "
DHS cares about you taking your own money out of the bank? The IRS doesn't work under DHS. and the bank is going to do their job for them by flagging you? How many millions of people are going to get flagged ? There are only so many agents to process the millions of people getting flagged. What if you take ALL of YOUR money out of the bank, and close you accounts? How do they steal it then ? Wouldn't it be easier for the Govt to just tax the hell out of you?  out of
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Posted: 4/28/2016 4:52:06 PM EDT
[#7]
Quote HistoryQuoted:
Depressions and banking collapses happen irregularly, from every decade to once every couple of generations. It is inevitable that they will happen again...and again...and again. As for hyperinflation as a response, that is probably a better solution for the Hated Rich than deflationary collapse. When something can't go on forever, it will end. Here's a case for the next eight years: http://209.251.48.101/forums/t_1_5/1862870_.html&page=1 I purposely stay out of this entire forum so PM with any questions. |
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Posted: 4/28/2016 10:31:33 PM EDT
[#8]
John Williams of Shadow Stats, Ron Kirby of Kirby Analytics, Andy Hoffman of Miles Franklin, James Rickards (CIA insider) all think it's going down. So does former OMB Director David Stockman (he wrote an article about a week ago in Contra Corner). Also look up Paul Craig Roberts, former Asst. Sect. of Treasury under Reagan for his thoughts.
BTW, I don't listen to Glenn Beck. Can't stand him. You might want to read Weidemer, Weidermer and Sptizer's Aftershock that discusses the various bubbles that are about to pop. It won't be pretty and this global depression will last 30-40 years - unless people wake up and realize how it happened and change the system. |
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Posted: 4/28/2016 10:41:50 PM EDT
[#9]
Quote HistoryQuoted: John Williams of Shadow Stats, Ron Kirby of Kirby Analytics, Andy Hoffman of Miles Franklin, James Rickards (CIA insider) all think it's going down. So does former OMB Director David Stockman (he wrote an article about a week ago in Contra Corner). Also look up Paul Craig Roberts, former Asst. Sect. of Treasury under Reagan for his thoughts. BTW, I don't listen to Glenn Beck. Can't stand him. You might want to read Weidemer, Weidermer and Sptizer's Aftershock that discusses the various bubbles that are about to pop. It won't be pretty and this global depression will last 30-40 years - unless people wake up and realize how it happened and change the system. If we have a global depression where the banks are stealing their depositors' money to pay off derivative investments, followed by hyper inflation due to over printing, then I suspect that the system would be changed quickly and violently. |
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Posted: 4/28/2016 10:59:33 PM EDT
[#10]
I checked into the "bail in" when I heard about it. Yeah, its now law that they can will do that.
Yeah, its law that you get flagged for either withdrawing OR depositing large amounts of cash. There is not magic $10k threshold that you hear of. According to our bank, any "suspicious" withdraw can be flagged for the feds to come knock at your house and talk to you about it. Yes, civil asset forfeiture is real. Its theft, pure and simple. Just seen a stat that civil asset forfeiture takes more money than known burglary and theft. Wasn't able to confirm that stat and lost interest. What makes me curious is how a mass amount of people have suddenly gotten interested in guns and growing food. Kind of like rats jumping ship, people as a whole seem to have a feeling of impending trouble and are nesting. Not sure how to take that. Since a large part of the economy is spending driven, it can easily be a self-fulfilling prophesy when everybody starts saving like crazy at the same time. OTOH, workforce participation is pathetic, food stamps are at an all time high. Official unemployment is "low" only because so many never came BACK to the workforce. My brain tells me that the only way we had the "great recovery" is that the .gov printed money like crazy, gave everybody hush money, and repeated over and over how much better things are, so go out and spend money. And it worked: the consumer economy coupled with inflation held our heads above water. But now we are 20 TRILLION in debt. We can no longer lower interest since its at zero. Debt to GDP is high. We are facing a demographics issue. We also have a collectively worthless generation becoming adults, and thus quickly the primary workforce, which aspire to make flipping burgers their lifelong occupation (provided they get the minimum wage raised every few years to new stupid highs). I am NOT an expert by any means. These are just my observations, and for those who know much more about this, please come along and correct me where appropriate. |
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Posted: 4/28/2016 11:57:08 PM EDT
[#11]
BTW, Apple sales are down 10%. What does that say about disposable capital and the consumer? Here is an interview w/John Rubino, author of The Collapse of the Dollar and How to Profit From It: https://www.youtube.com/watch?v=7uv8kI3i_oY#t=963 Some of the things Rubino mentions is the same as Harry Dent's (The Demographic Cliff). For instant, no one to pay for the baby boomer's benefits (the boomers paid for the Greatest Generation's SSI/Medicare).
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Posted: 4/29/2016 9:46:50 AM EDT
[#12]
Quote HistoryQuoted:
BTW, Apple sales are down 10%. What does that say about disposable capital and the consumer? Here is an interview w/John Rubino, author of The Collapse of the Dollar and How to Profit From It: https://www.youtube.com/watch?v=7uv8kI3i_oY#t=963 Some of the things Rubino mentions is the same as Harry Dent's (The Demographic Cliff). For instant, no one to pay for the baby boomer's benefits (the boomers paid for the Greatest Generation's SSI/Medicare). That is an indicator to an extent but take this into account also. Apple has had growth year after year after year. Major advances were made in technology so the consumer wanted to upgrade from one phone to the next often. Now we have peaked and there isn't much change from one model to the newest one so people have stopped upgrading so often. This was talked about and hypothesized in the tech magazines several years ago and they said it would likely happen somewhere around this time. |
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Posted: 4/29/2016 11:12:54 AM EDT
[#13]
Quote HistoryQuoted:
That is an indicator to an extent but take this into account also. Apple has had growth year after year after year. Major advances were made in technology so the consumer wanted to upgrade from one phone to the next often. Now we have peaked and there isn't much change from one model to the newest one so people have stopped upgrading so often. This was talked about and hypothesized in the tech magazines several years ago and they said it would likely happen somewhere around this time. Quote HistoryQuoted:
Quoted:
BTW, Apple sales are down 10%. What does that say about disposable capital and the consumer? Here is an interview w/John Rubino, author of The Collapse of the Dollar and How to Profit From It: https://www.youtube.com/watch?v=7uv8kI3i_oY#t=963 Some of the things Rubino mentions is the same as Harry Dent's (The Demographic Cliff). For instant, no one to pay for the baby boomer's benefits (the boomers paid for the Greatest Generation's SSI/Medicare). That is an indicator to an extent but take this into account also. Apple has had growth year after year after year. Major advances were made in technology so the consumer wanted to upgrade from one phone to the next often. Now we have peaked and there isn't much change from one model to the newest one so people have stopped upgrading so often. This was talked about and hypothesized in the tech magazines several years ago and they said it would likely happen somewhere around this time. Adding to that there is also a market shift from the standpoint of mobile phone carriers from subsidized devices to consumers paying the full price (even if over time such as AT&T Next). This is a huge change for consumers to go from "paying $200" for a device to paying $799+. On edit to keep this from getting too far off topic from the original discussion: There is always money to be made. Typically those that do best in down times are the same who were prepared for them. When other people are spending you should be saving. When they start pulling back and saving you should be spending. |
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Posted: 4/30/2016 7:53:56 PM EDT
[#14]
Quote HistoryQuoted:
If that ever happens everyone is fucked globally. The soccer mom harem is just about a week after that. Tell me more about this soccer mom harem.  
OP I'd take anything heard on Glenn Beck by any kind of "expert" with a 50lb bag of salt. I have no doubt that banks will shield themselves as best as possible but such a scenario as you've outlined just doesn't strike me as possible. I'd be more worried about companies taking on huge debt loads by repeatedly selling bonds when interest rates are so low, coupled with the very real possibility of a cash crisis instead. 
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Posted: 4/30/2016 7:59:00 PM EDT
[#15]
Quote HistoryQuoted:
That is an indicator to an extent but take this into account also. Apple has had growth year after year after year. Major advances were made in technology so the consumer wanted to upgrade from one phone to the next often. Now we have peaked and there isn't much change from one model to the newest one so people have stopped upgrading so often. This was talked about and hypothesized in the tech magazines several years ago and they said it would likely happen somewhere around this time. Quote HistoryQuoted:
Quoted:
BTW, Apple sales are down 10%. What does that say about disposable capital and the consumer? Here is an interview w/John Rubino, author of The Collapse of the Dollar and How to Profit From It: https://www.youtube.com/watch?v=7uv8kI3i_oY#t=963 Some of the things Rubino mentions is the same as Harry Dent's (The Demographic Cliff). For instant, no one to pay for the baby boomer's benefits (the boomers paid for the Greatest Generation's SSI/Medicare). That is an indicator to an extent but take this into account also. Apple has had growth year after year after year. Major advances were made in technology so the consumer wanted to upgrade from one phone to the next often. Now we have peaked and there isn't much change from one model to the newest one so people have stopped upgrading so often. This was talked about and hypothesized in the tech magazines several years ago and they said it would likely happen somewhere around this time. Apple has better competition now too. |
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Posted: 4/30/2016 11:20:47 PM EDT
[#16]
A collapse historically requires leverage.
Right now borrowing is way down. |
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Posted: 5/1/2016 3:16:39 PM EDT
[#17]
Quote HistoryQuoted:
Apple has better competition now too. Quote HistoryQuoted:
Quoted:
Quoted:
BTW, Apple sales are down 10%. What does that say about disposable capital and the consumer? Here is an interview w/John Rubino, author of The Collapse of the Dollar and How to Profit From It: https://www.youtube.com/watch?v=7uv8kI3i_oY#t=963 Some of the things Rubino mentions is the same as Harry Dent's (The Demographic Cliff). For instant, no one to pay for the baby boomer's benefits (the boomers paid for the Greatest Generation's SSI/Medicare). That is an indicator to an extent but take this into account also. Apple has had growth year after year after year. Major advances were made in technology so the consumer wanted to upgrade from one phone to the next often. Now we have peaked and there isn't much change from one model to the newest one so people have stopped upgrading so often. This was talked about and hypothesized in the tech magazines several years ago and they said it would likely happen somewhere around this time. Apple has better competition now too. Yes. Apple now has 24% of the tablet market. |
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Posted: 5/1/2016 3:47:21 PM EDT
[#18]
The bits on using depositor assets is total BS.
However, there is an economic downturn predicted. BIS and Citi have both issued white papers discussing the subject. Several emerging markets have been shored up by selling debt at attractive rates, but aren't able to produce. Look at Japan's attempts at QE to try and reverse the tide. They made their national bank public to try to get institutions to buy up their bonds, since BoJ holds the largest share of JPN muni bonds. Unfortunately, it isn't working and they'll contract soon. Also look at china. Growth has stalled and is reversing. Gov holds on institutional holders selling will be expiring soon (retail investors represent a MUCH larger share of the Chinese stock market than insitutional, the opp of what we have in most of the West). They're going to be crashing decently hard over the next few months. It won't be as bad as 2008, but definitely look at cashing in some gains and maybe to build up your hedge with some inverse ETF holdings. And don't listen to Glenn Beck.
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Posted: 5/3/2016 11:02:54 AM EDT
[#19]
Don't listen to glenn beck.
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Posted: 5/3/2016 11:53:17 PM EDT
[#20]
Been hoping for a crash for awhile. Unfortunately nothing is going to happen. At least, not anything major enough to really make a difference.
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Posted: 5/4/2016 12:24:51 AM EDT
[#21]
Quote HistoryQuoted:
Tell me more about this soccer mom harem.
Simple, once you have a decent supply of guns and ammo, stock pile tampons, tp, wine and chocolate. When the arfpocalypse comes the babes will all be yours. OP I'd take anything heard on Glenn Beck by any kind of "expert" with a 50lb bag of salt. I have no doubt that banks will shield themselves as best as possible but such a scenario as you've outlined just doesn't strike me as possible. I'd be more worried about companies taking on huge debt loads by repeatedly selling bonds when interest rates are so low, coupled with the very real possibility of a cash crisis instead. Quote HistoryQuoted:
Quoted:
If that ever happens everyone is fucked globally. The soccer mom harem is just about a week after that. Tell me more about this soccer mom harem.
Simple, once you have a decent supply of guns and ammo, stock pile tampons, tp, wine and chocolate. When the arfpocalypse comes the babes will all be yours. OP I'd take anything heard on Glenn Beck by any kind of "expert" with a 50lb bag of salt. I have no doubt that banks will shield themselves as best as possible but such a scenario as you've outlined just doesn't strike me as possible. I'd be more worried about companies taking on huge debt loads by repeatedly selling bonds when interest rates are so low, coupled with the very real possibility of a cash crisis instead. |
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Posted: 5/11/2016 10:53:41 AM EDT
[#22]
Quote HistoryQuoted:
Don't listen to glenn beck. On anything I might add. |
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Posted: 5/12/2016 9:48:56 AM EDT
[#23]
The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too.
Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. |
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Posted: 5/13/2016 9:51:42 AM EDT
[#24]
Something like a quarter of the global economy is in negative interest rates, so that is basically a slow motion bail-in, right now.
I honestly think most of the "strength" or "growth" we've seen in the U.S. economy has resulted from a flight to quality from Chinese, Russian and other investors attempting to get money out. Basically an attempt to price the loss and avoid nationalization of their assets. |
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Posted: 5/13/2016 7:58:38 PM EDT
[#25]
Quote HistoryQuoted:
Something like a quarter of the global economy is in negative interest rates, so that is basically a slow motion bail-in, right now. I honestly think most of the "strength" or "growth" we've seen in the U.S. economy has resulted from a flight to quality from Chinese, Russian and other investors attempting to get money out. Basically an attempt to price the loss and avoid nationalization of their assets. Do you have a source on that? I found a list of global interest rates and didnt see near a quarter of them negative. |
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Posted: 5/13/2016 10:04:05 PM EDT
[#26]
Quote HistoryQuoted:
Do you have a source on that? I found a list of global interest rates and didnt see near a quarter of them negative. Quote HistoryQuoted:
Quoted:
Something like a quarter of the global economy is in negative interest rates, so that is basically a slow motion bail-in, right now. I honestly think most of the "strength" or "growth" we've seen in the U.S. economy has resulted from a flight to quality from Chinese, Russian and other investors attempting to get money out. Basically an attempt to price the loss and avoid nationalization of their assets. Do you have a source on that? I found a list of global interest rates and didnt see near a quarter of them negative. The ECB and BOJ are the two heavyweights, plus the Swiss, Danes and Swedes, and likely the Australians. It's 20 to 25% of the total global economy, not of a list. |
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Posted: 5/14/2016 2:20:38 PM EDT
[#27]
Quote HistoryQuoted:
If we have a global depression where the banks are stealing their depositors' money to pay off derivative investments, followed by hyper inflation due to over printing, then I suspect that the system would be changed quickly and violently. Quote HistoryQuoted:
Quoted:
John Williams of Shadow Stats, Ron Kirby of Kirby Analytics, Andy Hoffman of Miles Franklin, James Rickards (CIA insider) all think it's going down. So does former OMB Director David Stockman (he wrote an article about a week ago in Contra Corner). Also look up Paul Craig Roberts, former Asst. Sect. of Treasury under Reagan for his thoughts. BTW, I don't listen to Glenn Beck. Can't stand him. You might want to read Weidemer, Weidermer and Sptizer's Aftershock that discusses the various bubbles that are about to pop. It won't be pretty and this global depression will last 30-40 years - unless people wake up and realize how it happened and change the system. If we have a global depression where the banks are stealing their depositors' money to pay off derivative investments, followed by hyper inflation due to over printing, then I suspect that the system would be changed quickly and violently. 30-40 year recovery is BS. these are not nukes dropping on soil, its playing fast and loose with finances |
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Posted: 5/15/2016 8:35:52 PM EDT
[#28]
Quote HistoryQuoted:
30-40 year recovery is BS. these are not nukes dropping on soil, its playing fast and loose with finances Quote HistoryQuoted:
Quoted:
Quoted:
John Williams of Shadow Stats, Ron Kirby of Kirby Analytics, Andy Hoffman of Miles Franklin, James Rickards (CIA insider) all think it's going down. So does former OMB Director David Stockman (he wrote an article about a week ago in Contra Corner). Also look up Paul Craig Roberts, former Asst. Sect. of Treasury under Reagan for his thoughts. BTW, I don't listen to Glenn Beck. Can't stand him. You might want to read Weidemer, Weidermer and Sptizer's Aftershock that discusses the various bubbles that are about to pop. It won't be pretty and this global depression will last 30-40 years - unless people wake up and realize how it happened and change the system. If we have a global depression where the banks are stealing their depositors' money to pay off derivative investments, followed by hyper inflation due to over printing, then I suspect that the system would be changed quickly and violently. 30-40 year recovery is BS. these are not nukes dropping on soil, its playing fast and loose with finances You have so much faith in the central bankers. We could recover in a couple of years, if people woke up and realize how we got into the mess; but that's asking too much. |
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Posted: 5/22/2016 3:19:49 PM EDT
[#29]
There is already a precedent for it, and if they need to, or if they think it will help stop the collapse, then absolutely, we could see a "Bail in"
The main thing we all need to remember, is that the Banks control the Government, (not the other way round) All the stuff which was in the realm of tinfoil hat conspiracy, was proven true during the 2008 collapse. We all tend to forget what happened, because the re-inflation was successful. However, anyone who doubts that a "bail in" is possible, should spend a week reading and understanding what happened during the last collapse. |
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Posted: 7/6/2016 5:00:29 PM EDT
[#30]
Quote HistoryQuoted:
When has Glen Beck been right on one of these predictions? He does this for ratings. He was on the radio screaming for people to get out of the stock market before the 2008 crash. It was when I first started listening to him. Dude was right. |
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Posted: 7/6/2016 5:32:44 PM EDT
[#31]
Quote HistoryQuoted:
The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too. Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. So....what can I do about it? |
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Posted: 7/6/2016 6:44:32 PM EDT
[#32]
Quote HistoryQuoted:
So....what can I do about it? Quote HistoryQuoted:
Quoted:
The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too. Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. So....what can I do about it? Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. |
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Posted: 7/6/2016 8:00:34 PM EDT
[#33]
My question is simple; is this an actual threat to my money in the bank that I should be seriously taking steps to protect myself from, or is this some kind of hysteria trying to freak people out and sell gold or something? It is closer to your second question, and farther from your first question. Lots of people trying to sell gold push this belief. They take your dollars, put them in a bank, and give you gold. Now a little gold never hurt any one, (or a little silver, either). But, one shouldn't get carried away. If you deposit your money in a small community bank, they are not speculating in credit default swaps. They could have problems if their area is dependent on a single industry. (Think of a bank in the oil patch when oil prices plunge). Deposit some of your money in a bank in another area if that bothers you. Diversification works well. Depositors over a certain amount have always faced the danger of becoming unsecured creditors if a bank fails, this is how the FDIC was set up. It is not rocket surgery. 
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Posted: 7/6/2016 8:12:30 PM EDT
[#34]
Quote HistoryQuoted:
He was on the radio screaming for people to get out of the stock market before the 2008 crash. It was when I first started listening to him. Dude was right. Quote HistoryQuoted:
Quoted:
When has Glen Beck been right on one of these predictions? He does this for ratings. He was on the radio screaming for people to get out of the stock market before the 2008 crash. It was when I first started listening to him. Dude was right. He was bound to be right at some point. |
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Posted: 7/6/2016 8:44:56 PM EDT
[#35]
Quote HistoryQuoted: He was on the radio screaming for people to get out of the stock market before the 2008 crash. It was when I first started listening to him. Dude was right. Quote HistoryQuoted: Quoted: When has Glen Beck been right on one of these predictions? He does this for ratings. He was on the radio screaming for people to get out of the stock market before the 2008 crash. It was when I first started listening to him. Dude was right. Has he ever not been screaming to get out of the market? I've never heard him say "hey now's a good time to buy" He just predicts a crash until eventually it happens but anyone following his advice has missed some really good bull markets also |
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Posted: 7/6/2016 9:14:44 PM EDT
[#36]
Quote HistoryQuoted:
Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. Quote HistoryQuoted:
Quoted:
Quoted:
The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too. Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. So....what can I do about it? Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. This is a legitimate strategy. However, not everybody has the time, ambition and organization to do it. |
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Posted: 7/6/2016 9:55:33 PM EDT
[#37]
Quote HistoryQuoted:
This is a legitimate strategy. However, not everybody has the time, ambition and organization to do it. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too. Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. So....what can I do about it? Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. This is a legitimate strategy. However, not everybody has the time, ambition and organization to do it. I've been doing my best to educate myself on it the past year, wish I had taken the time to learn about it sooner. Tax laws really are designed to encourage behavior. Now that I've skimmed the surface, you really can't be mad if you're paying high taxes. The information is out there to reduce it significantly if you're willing to learn. |
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Posted: 7/6/2016 10:26:58 PM EDT
[#38]
Quote HistoryQuoted:
I've been doing my best to educate myself on it the past year, wish I had taken the time to learn about it sooner. Tax laws really are designed to encourage behavior. Now that I've skimmed the surface, you really can't be mad if you're paying high taxes. The information is out there to reduce it significantly if you're willing to learn. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
Quoted:
The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too. Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. So....what can I do about it? Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. This is a legitimate strategy. However, not everybody has the time, ambition and organization to do it. I've been doing my best to educate myself on it the past year, wish I had taken the time to learn about it sooner. Tax laws really are designed to encourage behavior. Now that I've skimmed the surface, you really can't be mad if you're paying high taxes. The information is out there to reduce it significantly if you're willing to learn. This is true. The average person wants pizza, whores, and big bro trucks. You can live well and avoid taxes if you make reasonable choices in life. Google some stuff on the line, you can conjure all kinds of wizardry and data. |
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Posted: 7/7/2016 7:21:41 AM EDT
[#39]
Quote HistoryQuoted: I've been doing my best to educate myself on it the past year, wish I had taken the time to learn about it sooner. Tax laws really are designed to encourage behavior. Now that I've skimmed the surface, you really can't be mad if you're paying high taxes. The information is out there to reduce it significantly if you're willing to learn. Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: The Dodd-Frank Act changed "depositors" to "unsecured creditors." This allows the banks to lawfully bail-in from the funds of unsecured creditors. So, folks who think of themselves as "savers" will be left holding the bag. BTW, this is called a "bail-in" and it's been done in Cyprus and Greece. It will be happening more frequently too. Bail-ins are nothing new and I have been warning of this for a few years. The smart only keep what they need to cover their expenses in any bank. The very smart moved their money out and into tangibles. They did this before FACA made moving money out or overseas very difficult. One member posted the old advice, "diversity and don't worry about it." How you diversify will make a big difference on whether you survive financially or not. If you have dollar denominated assets (stocks, bonds, treasuries, savings, mutual funds), you'll probably be f*cked when the dollar dies. First, most stocks are held in trust now and the "owner" is only the intended beneficiary. In my days you got a nice engraved certificate but modernly all you have is a statement from your broker. Second, if your ducats are managed by a firm, you'd better check the language of your brokerage agreement as it may allow for rehypothecation of "your" assets. This is what happened to the clients of MF Global and PFG Best. Third, even if your "funds" are safe in Treasuries, are treasuries itself safe when the federal reserve note hyper-inflates? Forgot about Zimbabwe or even more modernly, Venezuela and what happened to their currency? One can emerge very rich from this if one knows how to maintain liquidity. Finally, it was raised, "Besides, what can I do about it?" A lot. If people realize how they have been cheated, they can take the power of controlling the money away from those who cheated them - or they can remain victims of it and permit their children yet to be born to be fleeced generations from now like they have. Take your pick. So....what can I do about it? Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. This is a legitimate strategy. However, not everybody has the time, ambition and organization to do it. I've been doing my best to educate myself on it the past year, wish I had taken the time to learn about it sooner. Tax laws really are designed to encourage behavior. Now that I've skimmed the surface, you really can't be mad if you're paying high taxes. The information is out there to reduce it significantly if you're willing to learn. would you mind starting a thread on how to do this? I'd be interested in reading it. First time I've heard of a 1031 |
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Posted: 7/7/2016 7:26:51 AM EDT
[#40]
Did it get you to buy some gold and solar cells from one of the paid advertisers?
Anything Glenn Beck says can be dialed back 87% and it will still be hyperbole. He's a moon bat. |
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Posted: 7/7/2016 7:29:44 PM EDT
[#41]
would you mind starting a thread on how to do this? I'd be interested in reading it. First time I've heard of a 1031
Dude get thee self to biggerpockets.com I feel like a fan boy, but that is THE site for real estate matters. With info there we were able to buy our first 12 unit and are actively looking for more. |
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Posted: 7/8/2016 8:55:10 AM EDT
[#42]
Quote HistoryQuoted: would you mind starting a thread on how to do this? I'd be interested in reading it. First time I've heard of a 1031 Dude get thee self to biggerpockets.com I feel like a fan boy, but that is THE site for real estate matters. With info there we were able to buy our first 12 unit and are actively looking for more. Thanks I'll check it out |
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Posted: 7/8/2016 10:32:37 AM EDT
[#43]
Quote HistoryQuoted:
would you mind starting a thread on how to do this? I'd be interested in reading it. First time I've heard of a 1031 Dude get thee self to biggerpockets.com I feel like a fan boy, but that is THE site for real estate matters. With info there we were able to buy our first 12 unit and are actively looking for more. I'm interested but that website just screams ponzi scheme to me. |
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Posted: 7/9/2016 10:52:27 PM EDT
[#44]
Quote HistoryQuoted:
would you mind starting a thread on how to do this? I'd be interested in reading it. First time I've heard of a 1031 Quote HistoryQuoted:
Quoted:
I've been doing my best to educate myself on it the past year, wish I had taken the time to learn about it sooner. Tax laws really are designed to encourage behavior. Now that I've skimmed the surface, you really can't be mad if you're paying high taxes. The information is out there to reduce it significantly if you're willing to learn. would you mind starting a thread on how to do this? I'd be interested in reading it. First time I've heard of a 1031 If you have iTunes, search Passive Real Estate Investing podcast. Download PREI 048, it was published June 23. He's really good at explaining everything you need to know, and will give you great questions to ask. I love his podcasts, as well as Kevin Bupp. His podcast is called Real Estate Investing for Cashflow. Kevin Bupp's interest is in mobile home parks, but his guests run the entire gamut. PREI 032 with guest Tom Wheelwright is also a must listen to. He skims the surface of taxes, but it's very good information to get your wheels churning. Although the I purchased his book, and highlighted a lot, it's a typical Rich Dad, Poor Dad series. They get you fired up, but you still need to act. |
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Posted: 7/10/2016 2:26:21 PM EDT
[#45]
I'm interested but that website just screams ponzi scheme to me.
I don't know about that. They dont require you to buy anything. Like Shrimpmoney's posts I listen to the podcasts. They are a fantastic way to learn. Thanks for another podcast sourse to listen to! I did purchase a membership there though. They offer some things, nothing crazy but it's like an online R.E.A. Curious why you said ponzi? |
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Posted: 7/10/2016 9:13:16 PM EDT
[#46]
Quote HistoryQuoted:
30-40 year recovery is BS. these are not nukes dropping on soil, its playing fast and loose with finances I've been listening to and reading articles by Bill Holter for years. Originally with Miles-Franklin, he is currently with Jim Sinclair Mindset. Pay particular attention to what Holter says in the end. Like myself, Holter doesn't see a recovery during his lifetime. He cites our lack of industry and production, generational welfare dependent mindset and lack of work ethics and that we've overspent (meaning we owe, we owe, we owe). https://www.youtube.com/watch?v=xK3d8mKzcVk Jim Rogers recommends young couples get into farming (organic), income producing (or potential producing) property, real money (gold/silver). Re: property, be careful as property is still over priced. Buy too soon and if your tenants stiff you, your land can be foreclosed on. I would wait until the land was foreclosed on before buying and even then, not to buy too soon (read Benjamin Roth's book, The Great Depression: A Diary. Roth covers real estate prices and how in the wake of the Great Depression it took over two decades for some property to recover its price. So, do you want to pay taxes on a non-income producing property?). As for a faster recovery, there is only one thing to do: Get away from the debt based monetary system. F*ck Woody Wilson and the sh*t he pulled on this nation in 1913. If you don't understand this, go to http://www.hiddensecretsofmoney.com and watch the free videos there. It's going to take a Great Awakening much on the scale of the Second Great Awakening of the Nineteenth Century in America. |
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Posted: 7/24/2016 11:06:33 PM EDT
[#47]
Quote HistoryQuoted:
..................... Invest in income producing rental properties, never sell them, depreciate them for 27.5 years, then tax defer them by rolling into a 1031 exchange to another property. Use other peoples money to pay down your mortgages, then leverage the equity to acquire more properties. Keep repeating. Are you saying the bubble won't pop for another 27.5 years? If this depressing thread comes to pass and there's a meltdown who's going to provide the income for those rental properties? They'll all be selling apples on the corner. Unless you own those properties free and clear the mortgage company will get them back. And if they're paid for they may wind up on the courthouse steps for taxes. A little bump in the road and you have a good plan, but we're talking Armageddon here. 
working link for https://www.hiddensecretsofmoney.com/ |
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Posted: 8/3/2016 1:50:28 AM EDT
[#48]
Quote HistoryQuoted:
Tell me more about this soccer mom harem.
OP I'd take anything heard on Glenn Beck by any kind of "expert" with a 50lb bag of salt. I have no doubt that banks will shield themselves as best as possible but such a scenario as you've outlined just doesn't strike me as possible. I'd be more worried about companies taking on huge debt loads by repeatedly selling bonds when interest rates are so low, coupled with the very real possibility of a cash crisis instead. Quote HistoryQuoted:
Quoted:
If that ever happens everyone is fucked globally. The soccer mom harem is just about a week after that. Tell me more about this soccer mom harem.
OP I'd take anything heard on Glenn Beck by any kind of "expert" with a 50lb bag of salt. I have no doubt that banks will shield themselves as best as possible but such a scenario as you've outlined just doesn't strike me as possible. I'd be more worried about companies taking on huge debt loads by repeatedly selling bonds when interest rates are so low, coupled with the very real possibility of a cash crisis instead. 50 pounds of salt is worth about 100$. Salt is worth more than the "experts" on Glen Beck. |
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Posted: 8/3/2016 1:53:11 AM EDT
[#49]
Quote HistoryQuoted:
Also look at china. Growth has stalled and is reversing. Gov holds on institutional holders selling will be expiring soon (retail investors represent a MUCH larger share of the Chinese stock market than insitutional, the opp of what we have in most of the West). They're going to be crashing decently hard over the next few months. What? China's growth rate is still positive. http://www.tradingeconomics.com/china/gdp-growth-annual/forecast |
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Posted: 8/3/2016 2:36:01 AM EDT
[#50]
What was said in that article is for the most part true. Dodd-Frank did indeed change depositors to unsecured creditors.
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