Hope you all are paying attention.
http://market-ticker.org/archives/1983-Time-To-Leave-Citibank-Folks.html
Citi is a big bank.
jj
http://market-ticker.org/archives/1983-Time-To-Leave-Citibank-Folks.html
Citi is a big bank.
jj
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Hope you all are paying attention.
http://market-ticker.org/archives/1983-Time-To-Leave-Citibank-Folks.html
Citi is a big bank.
jj
what are the Federal Reserve reserve requirements currently on banks? it's in the 3 - 10% range, I think. So you deposit $10,000 in the bank, they only have to keep $300 - $1,000 on reserve. The rest is used through fractional lending to create more money in the bank system. They took your 10K, loaned out $9700 of it, those loans sit as assets on the bank books and they make interest on the loans. But if you go to the bank one day to get your 10K to say buy guns, it might not be there. It takes time to move digital money through the system to adjust the books to bring the balances back in line (bank loans to each other at the fed reserve rate). So thus, the 7 period for no withdrawals - that bank system might be strained with bad loans and caught with their pants down.
Absolutely correct on the 401K. The gooberment, having spent every last nickel they had access to, and then some, is now eyeing your 401K's and retirement plans... Just a matter of time. If you can't hold it in your hand, don't count on it. And even then, they are very creative at finding ways to take it from you. Precious metals is the way to go. None more precious than lead. Food and seeds would be pretty smart too.