Banking System Collapse: Wake Up America Your Banks Are Dying

[mick silver]

http://endoftheamericandream.com/archives/banking-system-collapse-wake-up-america-your-banks-are-dying ... U.S. banks are being shut down by federal regulators at a staggering pace this year, and yet most Americans seem completely oblivious to it. In fact, federal officials have already shut down 81 U.S. banks this year, which is about double the number that were shut down at this time last year. So why aren't more people upset about this? Well, part of the reason is because the FDIC is doing it very, very quietly. The bank closings for each week are announced every Friday, which means that they pass through the news cycle over the weekend almost unnoticed. For example, banks in Nebraska, Mississippi and Illinois with total deposits of almost $2.3 billion were shut down by federal regulators on Friday. So did you hear about it before now? If not, why not? Shouldn't the fact that we are experiencing a banking system collapse be headline news? But most Americans are more than happy to remain blissfully ignorant of what is going on. In fact, most Americans seem far more interested in what is happening on American Idol or Dancing With The Stars. But when the American Dream starts dying for tens of millions of Americans as the economy collapses perhaps more people will start to care.

So just how bad is the banking system crisis?

Well, FDIC Chairman Sheila Bair says that 775 banks (approximately ten percent of all banks in the United States) are now on the Federal Deposit Insurance Corporation's list of "problem" banks.

So should we be alarmed by that?

Well, there were only 252 U.S. banks on the FDIC's problem list at the end of 2008.

There were 702 U.S. banks on the FDIC's problem list at the end of 2009.

Now there are 775.

Do you know if your bank is on the verge of failing?

You might want to check.

But even if all of our banks fail the FDIC has plenty of money to cover our federally-insured banking accounts, don't they?

Unfortunately, they do not.

The FDIC is backing nearly 8,000 U.S. banks that have a total of $13 trillion in assets with a deposit insurance fund that is pretty close to flat broke.

It was recently reported that the FDIC's deposit insurance fund now has negative 20.7 billion dollars in it, which actually represents a slight improvement from the end of 2009.

But the bank failures on Friday drained another $313.6 million from the FDIC’s deposit-insurance fund.

And the way things are trending, the banking crisis could get a whole lot worse?

Why?

Well, Americans are simply not doing a very good job of paying their bills.

During the first quarter of 2010, the total number of loans at U.S. banks that were at least three months past due increased for the 16th consecutive quarter.

16 quarters in a row.

Just let that sink in.

If that is not a trend, then what is?

Oh, but the U.S. government will never let the entire banking system fail, right?

Well, they won't let the "too big to fail" banks go under, we have seen that.

But the small and mid size banks?

They fall into the "not big enough to bail out" category.

And where in the world is the U.S. government going to get more money to bail anyone out?

The reality is that the U.S. government is now over 13 trillion dollars in debt.

To give you an idea of just how horrific that is, if you started spending a million dollars a day on the day that Christ was born, you still would not have spent a trillion dollars by now.

That is how big a trillion is.

But for this year alone it is being projected that the U.S. government will have a budget deficit of approximately 1.6 trillion dollars.

So, yes, pretty much wherever you turn we are facing a financial nightmare.

What should we do about all this? Feel free to leave a comment with your

[Ponce]

For now my bank is doing great......one billion in the red with nine in the black, but I only keep in there what I need for one month at a time.

[ximmy]

Don't worry, you will have a secure account with Chase, BofA, Wells Fargo, Citi...

This is simply a planned restructuring by the banksters who are taking over or closing all the small and medium banks..

keeping the fed banks alive with new printing and your valuable interest payments.

Now they also hold more real estate than all American homeowners combined.

You are safe with them.

[Olmstein]

Around here, they are building bank branches like crazy. Several restaurants and other businesses have been knocked down and are being replaced by new banks.

[Quantum]

I don't have a bank, and wish all banks to die more quickly.

[Twisted Titan]

Its funny Im almost 80% cash on purchases nowadays

BuT i had to make a withdrawl from my bank and I noticed that I accidentaly filled out a deposit slip.

No biggie, until I look around and ALL they had out where deposit slips.

after a minute of looking I eventually asked a rep where are the withdrawl slips and he open a locked draw and hands me a single slip.

I was so stunned I said " Pardon me but I have more than one acct".....he slowy gave me another one.

Banks are doing everything possible to keep their claws on your money. even as far as to remove all the takeout slips from the general area.

What's spooky is not 1 in a 100,000 grasped that descion came down from high command


Boy are we in alot of trouble


T

[iOWNme]

When is the celebration..... Err... I mean funeral?

The Mystery Babylon usury system is crumbling. If I didn't think a new, more sinister version will replace it, I would be excited.

Peace

[The Great Ag]

Boy are we in alot of trouble


T

That's an understatement, TT:
Below is a section of US code relating to the rules and regulations for banks. It came about after 1933 when US CONgress repudiated the gold obligation. The Secretary of the Treasury and the President can make any rule, regulation, order. . .etc regarding banking operations and CONgress will automatically rubber stamp it.

TITLE 12 > CHAPTER 2 > SUBCHAPTER IV > § 95b
Prev | Next § 95b. Ratification of acts of President and Secretary of the Treasury under section 95a
The actions, regulations, rules, licenses, orders and proclamations heretofore or hereafter taken, promulgated, made, or issued by the President of the United States or the Secretary of the Treasury since March 4, 1933, pursuant to the authority conferred by section 95a of this title, are approved and confirmed. http://www.law.cornell.edu/uscode/html/uscode12/usc_sec_12_00000095---b000-.html

If that is not bad enough, The Secretary of the Treasury does NOT work for the United States gov't. He is paid by the IMF and is actually a governor for the IMF. (sorry no code but it is there)

By law the man who runs the show for the US works for and is paid by the IMF. Pull out any FRN and look at the bottom and see the signatures. On the left is Treasurer of the United States and the right side is the Secretary of the Treasury. The two offices are NOT synonomous.

When a bank fails, it is NOT my bank. I may have public money in there, but I have NO control over the bank. It is not mine.

All banks operate exclusive under the rules of the federal reserve.

the Great Ag

[DMac]

Good thread Mick, thanks.


Re: Banking System Collapse: Wake Up America Your Banks Are Dying

no kidding!

[chad]

Its funny Im almost 80% cash on purchases nowadays

BuT i had to make a withdrawl from my bank and I noticed that I accidentaly filled out a deposit slip.

No biggie, until I look around and ALL they had out where deposit slips.

after a minute of looking I eventually asked a rep where are the withdrawl slips and he open a locked draw and hands me a single slip.

I was so stunned I said " Pardon me but I have more than one acct".....he slowy gave me another one.

Banks are doing everything possible to keep their claws on your money. even as far as to remove all the takeout slips from the general area.

What's spooky is not 1 in a 100,000 grasped that descion came down from high command


Boy are we in alot of trouble


T


i have noticed this as well. only deposit slips in my bank.

[gunDriller]

Its funny Im almost 80% cash on purchases nowadays

BuT i had to make a withdrawl from my bank and I noticed that I accidentaly filled out a deposit slip.

No biggie, until I look around and ALL they had out where deposit slips.

after a minute of looking I eventually asked a rep where are the withdrawl slips and he open a locked draw and hands me a single slip.

I was so stunned I said " Pardon me but I have more than one acct".....he slowy gave me another one.

Banks are doing everything possible to keep their claws on your money. even as far as to remove all the takeout slips from the general area.

What's spooky is not 1 in a 100,000 grasped that descion came down from high command

Boy are we in alot of trouble

T


it seemed like a good idea to open a savings account with HSBC in Canada a few years ago.

that was before they shut down the customer service department that handles people outside of Canada.

which left me with no way to access the money in my account.

officially, they say, "use telephone banking", but when i call telephone banking, they tell me to call the bank branch in Vancouver.

so, every wire transfer involved about 5 phone calls, 2 emails, and one week - to initiate it. then another week while it was transferred by HSBC Bank USA. who just happens to wait until the exchange rate is better - and then adds on an additional fee of about 4%.

banks are DEFINITELY doing everything they can to make withdrawals difficult.

if you want to be screwed by a bank anywhere in the world, i suggest HSBC.

[Liquid]

i have noticed this as well. only deposit slips in my bank.


I noticed this too, banks are being very sneaky right now. One thing my bank did, was disconnect my savings account from my debit card. So, I could not withdrawal money from the ATM.

I had to go inside the bank and request that it be linked again. They did not have an explanation of why they removed the link.

[jaybone]

They stopped being "OUR" banks on Dec 23rd 1913

[Saul Mine]

If you have any money in a bank, any amount you consider substantial, you should open a Treasury Direct account (http://www.treasurydirect.gov/). Then when your bank doesn't open some Monday morning you can go online and transfer your money to your Treasury Direct account.

[philo beddoe]

If you have any money in a bank, any amount you consider substantial, you should open a Treasury Direct account (http://www.treasurydirect.gov/). Then when your bank doesn't open some Monday morning you can go online and transfer your money to your Treasury Direct account.
What does a TD account do? I know that bthe FDIC considers CD accounts, and even savings accounts financial instruments, and they will send you a check weeks later. A checking account is the only account that you can withdraw from on a Monday after a Friday closing.

[Quantum]

If you have any money in a bank, any amount you consider substantial, you should open a Treasury Direct account (http://www.treasurydirect.gov/). Then when your bank doesn't open some Monday morning you can go online and transfer your money to your Treasury Direct account.


LOL - put your faith in the US Government! :D ;D

"Full faith and credit of the United States Government."

"Payable to the bearer on demand..."

http://upload.wikimedia.org/wikipedia/commons/0/0a/US_$1_1928_Silver_Certificate.jpg

<reduced image size to keep width reasonable- JQP>

[jetgraphics]

Misleading terminology will only mislead.

A "dollar bill" (Federal Reserve Note) is not a dollar.
It was never "backed". (Read the law, do not believe what you are told)

Since 1933, no dollars have circulated, and no one has "paid" their debts, pursuant to law.
All are presumed to be bankrupts / debtors, under protection of the U.S. government (a taxable privilege).

-----------
References:
Coinage Act of 1792, et seq.
Title 12 USC Sec. 411
House Joint Resolution 192, June 1933
From Black's Law Dictionary, Sixth edition, p. 147:
The word "bankrupt" is not used in the Federal Bankruptcy Code. "Debtor" is now the term used.
{If you signed a "creditor / debtor" agreement, would you have balked if it said "creditor / bankrupt" ?}