xryan.jacksonx
Sharpshooter
- Jun 3, 2012
- 313
- 18
-
Be sure to read this post! Beware of scammers. https://www.indianagunowners.com/threads/classifieds-new-online-payment-guidelines-rules-paypal-venmo-zelle-etc.511734/
Stocks, Gold, Silver, and the printing press.
- Thread starter smokingman
- Start date
-
- Tags
- precious metals
The #1 community for Gun Owners in Indiana
Member Benefits:
Fewer Ads! Discuss all aspects of firearm ownership Discuss anti-gun legislation Buy, sell, and trade in the classified section Chat with Local gun shops, ranges, trainers & other businesses Discover free outdoor shooting areas View up to date on firearm-related events Share photos & video with other members ...and so much more!
Member Benefits:
A Word Out Of Place Sends Europe Tumbling | Zero Hedge
The approach marks a radical departure for euro zone policy after three years of crisis in which taxpayers across the region have effectively been on the hook for resolving problem banks and indebted governments via multiple rescue programmes.
That process, with governments and taxpayers bearing the costs and providing the back stop, had to stop, Dijsselbloem said. Recent financial market calm meant now was the time to make the change, although he conceded there was some concern that it could unsettle markets again.
If adopted by the euro zone, Dijsselbloem's template could also sound a death knell for a plan hatched nine months ago when the euro zone debt crisis was threatening to blow the currency area apart.
"Cyprus a Template For EU"
After Cyprus, eurozone faces tough bank regime - Eurogroup head | Reuters
In other words if you have more than 100k in any bank in the EU,it can and probably will be used to bailout said banks.The change is in making sure democracy has no effect on banker power.See when it had to be voted upon it did not pass.Take elected officials out of the picture and you can steal 40% of depositors money to bail out a bank.
Fixed it to how it should have been done originally.
I'd like to say that I believed that what's happening in Cyprus is an isolated incident, but give it time and other desperate countries will pick up where Cyprus left off. At some point this type of theft will cross the pond and be discussed openly in our government.
It would be more than unwelcome. I'd make the drive to a sales tax free state to purchase if need be.
xryan.jacksonx
Sharpshooter
- Jun 3, 2012
- 313
- 18
I've tried to find a reliable source for that info. It seems some states have blanket exemptions, some states have minimum dollar amounts, and some have other variations.
Here We Go Again: EU Lawmaker To Push For Bail-In Resolution Law For Deposits Over
The European Parliament will demand that big savers take losses if their banks run into trouble, a senior lawmaker told Reuters, adding momentum to a policy unveiled as part of a Cypriot bailout.
Although some policymakers have sought to portray Cyprus and the losses suffered by depositors at two of its banks as a one-off, many experts believe it marks a dramatic change in tack in how Europe deals with troubled banks, to spare taxpayers who have been on the hook for previous bailouts.
Jeroen Dijsselbloem, head of the Eurogroup of euro zone finance ministers, said on Monday that in future, the currency bloc should first ask banks to recapitalise themselves, then look to shareholders and bondholders and then "if necessary" to uninsured deposit holders.
Now the likelihood is rising that tough treatment of big depositors will be written into a new EU law, making losses for large savers a permanent feature of future banking crises.
The European Parliament will demand that big savers take losses if their banks run into trouble, a senior lawmaker told Reuters, adding momentum to a policy unveiled as part of a Cypriot bailout.
Although some policymakers have sought to portray Cyprus and the losses suffered by depositors at two of its banks as a one-off, many experts believe it marks a dramatic change in tack in how Europe deals with troubled banks, to spare taxpayers who have been on the hook for previous bailouts.
Jeroen Dijsselbloem, head of the Eurogroup of euro zone finance ministers, said on Monday that in future, the currency bloc should first ask banks to recapitalise themselves, then look to shareholders and bondholders and then "if necessary" to uninsured deposit holders.
Now the likelihood is rising that tough treatment of big depositors will be written into a new EU law, making losses for large savers a permanent feature of future banking crises.
What's scary is that you can almost hear the justification for doing this or it's cousin--confiscating retirement plans savings--here in the US.
I don't see anything wrong with this policy. When a bank needs to be re-capitalized someone has to pay. Uninsured deposits (over 100k) are better than taxpayer money imo. If you are dumb enough to deposit uninsured money in an insolvent bank, you should pay, not me. I think bond holders should be hit before deposits, but both of those before taxpayers.
People need to realize that putting uninsured money in a bank is the same as putting it in the stock market from a risk standpoint. A bank isn't a secure version of putting your money under the mattress. It invests the money that you deposit and it can take losses. For markets to work risk has to be properly priced.
I can see what you're saying about most peoples perception that banks are 100% safe vaults where they can never loose any money, but what's happening over there isn't that a bank is goign to default through it's own actions or inactions. The government is seaizing money that's already been taxed and has been saved for other uses in the future. Two completely different discussions.
That's exactly what's happening. The discussion is over who will pay for the bailout. Now don't get me wrong. This is an extemely risky policy and may very well have unintended consequences (banks runs) for the financial industry. I don't think Euroland is stable enough to take this in stride considering the problems in Italy and Spain. I'm just saying that taking uninsured deposits to pay for a bank re-cap is more fair than taking taxpayer money.
I read this a few days ago,but did not add it to this thread.It is very relevant,so I am choosing to add it now.
March 21 (Bloomberg) — The Treasury auctioned 10-year inflation-indexed notes at a negative yield for an eighth consecutive time as investors remain skeptical that Federal Reserve measures won’t lead to a resurgence in consumer prices. The $13 billion in Treasury Inflation Protected Securities, which mature in January 2023, yielded negative 0.602 percent, versus the average forecast of negative 0.603 percent in a Bloomberg News survey of nine of the Fed’s 21 primary dealers that are required to bid on U.S. debt sales. Holders of TIPS receive an adjustment to the principal value of the securities equal to the change in the consumer price index, in addition to
a fixed rate of interest that’s smaller than the interest paid to a holder of conventional debt.
“The negative yield is a result of the Fed policy,” Aaron Kohli, an interest-rate strategist in New York at the primary dealer BNP Paribas SA, said before the auction. “It’s a sign, on a longer horizon, to get inflation protection because the Fed is still very accommodative and that drives significant demand from investors.”
March 21 (Bloomberg) — The Treasury auctioned 10-year inflation-indexed notes at a negative yield for an eighth consecutive time as investors remain skeptical that Federal Reserve measures won’t lead to a resurgence in consumer prices. The $13 billion in Treasury Inflation Protected Securities, which mature in January 2023, yielded negative 0.602 percent, versus the average forecast of negative 0.603 percent in a Bloomberg News survey of nine of the Fed’s 21 primary dealers that are required to bid on U.S. debt sales. Holders of TIPS receive an adjustment to the principal value of the securities equal to the change in the consumer price index, in addition to
a fixed rate of interest that’s smaller than the interest paid to a holder of conventional debt.
“The negative yield is a result of the Fed policy,” Aaron Kohli, an interest-rate strategist in New York at the primary dealer BNP Paribas SA, said before the auction. “It’s a sign, on a longer horizon, to get inflation protection because the Fed is still very accommodative and that drives significant demand from investors.”
Once again im having a hard time understanding something in this thread .... How can you auction something off at a loss on return(s)? Who in their right mind would contribute to this?
US Treasuries have long been considered the safest of investments. I don't agree with that for various reasons, but that is a key starting point. Major investors can't get millions or billions in greenbacks to hold at 0% interest and besides, they would have to pay to secure that cash, so even major cash holdings would effectively be at an effective net negative interest rate.
If other investments are considered risky such that you may lose principal- think defaults, confiscations, etc, then paying a small amount simply to keep the money safe makes sense. Think the stock market is a bubble and QE-infinity will eventually fail to inflate it? See Cyprus and the Euro in trouble? You are an investment fund and aren't allowed to own precious metals? Concerned about arbitrary actions by the govt that negatively impact the US economy? Then you look for safety, even if you lose a small amount in the process. Thus negative interest rates for treasuries are possible.
Another way to look at it. Early banks didn't pay interest. They charged to keep your cash safe. This is another version of that early setup.
Canada joins Cyprus,and makes all deposits legally available for bailing out a bank.
The Canadian Government Offers "Bail-In" Regime, Prepares For The Confiscation Of Bank Deposits To Bail Out Banks | Zero Hedge
The [Canadian] Government proposes to implement a “bail-in” regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.
The Canadian Government Offers "Bail-In" Regime, Prepares For The Confiscation Of Bank Deposits To Bail Out Banks | Zero Hedge
The [Canadian] Government proposes to implement a “bail-in” regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.
http://www.fdic.gov/about/srac/2012/gsifi.pdf
Read this and take note of who it is from.
Take special note of - PAGE 6, SECTION 13:
“An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company into equity. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself — thus , the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution.”
The FDIC is telling you that they don't have the money to guarantee deposits and that the solution when your bank crashes is to take your money, give you stock in your bankrupt bank and tell you to go pound sand.
Your risk free, federally guaranteed deposits up to $250,000 will be converted into stock of a bankrupt bank. That is the solution they are going to run with when the SHTF.
And it will HTF. Nobody has fixed any of the problems that caused the 2007-2008 meltdown. Too much bad debt was in the system and even more bad debt is now in the system. How is anything better?
The only thing that put off a total reset then was the money printing. That can hide some serious problems but it cannot hide them forever and in fact will make things worse - much worse. we should have dealt with the debt problem then and there (or even years before), but we didn't. The people in power weren't going to risk their political careers on a true fix that was messy, painful and would cause them to lose the next election. No, they were going to screw us even harder!
Read this and take note of who it is from.
Take special note of - PAGE 6, SECTION 13:
“An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company into equity. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself — thus , the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution.”
The FDIC is telling you that they don't have the money to guarantee deposits and that the solution when your bank crashes is to take your money, give you stock in your bankrupt bank and tell you to go pound sand.
Your risk free, federally guaranteed deposits up to $250,000 will be converted into stock of a bankrupt bank. That is the solution they are going to run with when the SHTF.
And it will HTF. Nobody has fixed any of the problems that caused the 2007-2008 meltdown. Too much bad debt was in the system and even more bad debt is now in the system. How is anything better?
The only thing that put off a total reset then was the money printing. That can hide some serious problems but it cannot hide them forever and in fact will make things worse - much worse. we should have dealt with the debt problem then and there (or even years before), but we didn't. The people in power weren't going to risk their political careers on a true fix that was messy, painful and would cause them to lose the next election. No, they were going to screw us even harder!
Cookies must be enabled. | The Australian
http://www.ibtimes.com/sorry-mates-...a-wants-cut-out-us-dollar-trade-china-1161287
A CURRENCY deal enabling the Australian dollar to be converted directly into Chinese yuan, slashing costs for thousands of businesses, is set to be the centrepiece of Julia Gillard's mission to China next weekend. Australia would become the third country, after the US and Japan, to secure such an arrangement from China, which is Australia's top trading partner, with exports and imports totalling $120 billion last financial year.
At present, companies doing business with China must pay the added cost of converting their Australian dollars into US dollars or yen, and then into yuan.
Another crack in the Federal Reserve note as the worlds reserve currency.
http://www.ibtimes.com/sorry-mates-...a-wants-cut-out-us-dollar-trade-china-1161287
A CURRENCY deal enabling the Australian dollar to be converted directly into Chinese yuan, slashing costs for thousands of businesses, is set to be the centrepiece of Julia Gillard's mission to China next weekend. Australia would become the third country, after the US and Japan, to secure such an arrangement from China, which is Australia's top trading partner, with exports and imports totalling $120 billion last financial year.
At present, companies doing business with China must pay the added cost of converting their Australian dollars into US dollars or yen, and then into yuan.
Another crack in the Federal Reserve note as the worlds reserve currency.
Japan to double its money supply by 2014,to fight deflation.
Japan central bank to massively expand supply of money in bid to revive stagnant economy - The Washington Post
Welcome to Forbes
Review & Outlook: Japan's Bank of Bernanke - WSJ.com
The race to devalue is really taking off.The FED may want to consider starting QE4 soon,while continuing QE3 of course(QE3 can never end).
Japan central bank to massively expand supply of money in bid to revive stagnant economy - The Washington Post
Welcome to Forbes
Review & Outlook: Japan's Bank of Bernanke - WSJ.com
The race to devalue is really taking off.The FED may want to consider starting QE4 soon,while continuing QE3 of course(QE3 can never end).
What do you mean doubling the money supply makes it less valuable.....ooops.
Is It Beginning? Biggest JGB Price Collapse In Over 10 Years Triggers TSE Circuit Breakers | Zero Hedge
10Y JGB yields have exploded higher. The move from 32bps to 65bps triggered circuit breakers on the Tokyo Stock Exchange in JGB Futures trading as JGB prices plunged by their largest amount since September 2002. We can only imagine there is liquidations galore occurring given the massive outsize moves we are seeing in Japanese bonds, stocks, FX, swaps, and CDS. Did the BoJ just lose control?
Is It Beginning? Biggest JGB Price Collapse In Over 10 Years Triggers TSE Circuit Breakers | Zero Hedge
10Y JGB yields have exploded higher. The move from 32bps to 65bps triggered circuit breakers on the Tokyo Stock Exchange in JGB Futures trading as JGB prices plunged by their largest amount since September 2002. We can only imagine there is liquidations galore occurring given the massive outsize moves we are seeing in Japanese bonds, stocks, FX, swaps, and CDS. Did the BoJ just lose control?
Site Supporter
Staff online
-
Cameramonkeywww.thechosen.tv
Members online
- hammerd13
- flint stonez
- DoggyDaddy
- Tradesylver
- Cavman
- bigretic
- Longhair
- Mikey1911
- El Conquistador
- indyblue
- HKFaninCarmel
- MrSmitty
- indyartisan
- INP8riot
- bobzilla
- Ark
- OneBadV8
- Firehawk
- HoosierHunter07
- AndreusMaximus
- KG1
- snapping turtle
- dak109
- KJQ6945
- Leo
- XDdreams
- Duke5555
- jspy5
- auedotq
- Gascitykid
- Eagle21
- JimH
- barber613
- brchixwing
- yetti462
- Smith& W
- COOPADUP
- joshf63a
- abraham743
- Trapper Jim
- Shadow01
- armalitesheepdog
- phylodog
- maxipum
- Brandon
- c604
- Bosshoss
- Colt
- INgunowner
- Cameramonkey