The idea of a NATIONAL Bank is being batted around. People dont seem care - WHAT??? THE. GOVERNMENT. WILL. CONTROL. YOUR. LOCAL. BANK. That should scare you to death. What has the Government ever gotten its fingers in that 1. they ever got out of and 2. they ever made better? NOTHING...
So, now you taxpayers own an Insurance Company - Car Companies - Mortgage Companies and now the Government was the Banks. Next it will be the Energy Companies and we will be Venezuela (and that is not a good thing.)
When the Government first spent the $350,000,000,000.00 of the FIRST bailout (and its not working, by the way), the Government gave a bunch to banks. Some of the banks did not have a choice. There was a backroom meeting where the banks were TOLD by the Government that they HAD to take the funds. I made sure that my tiny local bank wasnt in it and I called Schwab to make sure they hadnt taken any. I had family/friends that banked with Bank of America and if that was me, I would have asked for CASH and closed my accounts IMMEDIATELY.
If the Government does make a Bank grab, I will be done with banking. It will be a huge pain, because I LOVE my check card - but I will be a cash only chick. I am a cash only chick, but I mean a REAL cash only as in only paper and coins. "Banks" like Charles Schwab that let you keep cash and also buy stocks with them arent a true "Bank" in the real sense, but if they could keep out of the Government's clutches, I would stick with them.
A Bank Grab will throw people back to a more elementary system. I see more and more people TRADING services and goods which will keep cash and the IRS out of people's business. Business will become more local again with buyers and sellers in a face to face transaction. I also dont see that as a bad thing. Doing business face to face makes both the buyer and the seller more responsible to each other. The seller cant screw the buyer or sell crap and the buyer will pay his debt. Its easy to ignore a debt to a faceless mammoth company - hard to do when you go to church with someone or see them on a regular basis. I see a rise in "store accounts" and not like credit card accounts today.
I see a rise in benevolence by stores/sellers - a rise in personal responsibility for buyers - a rise in the phrase TRUCK Garden. I actually had to Google the term when I first heard it. Most families of "yore" had a garden to feed the family - had pasture to feed the animals - and a garden to fill a truck to drive to the side of the road to sell, thus a Truck Garden.
A Bank Grab coupled with the CROOK that looks to be confirmed as Treasury Secretary and thus in charge of the IRS could be the catalyse to a resetting of our Government and our Country. I have long thought that it will be a TAX REVOLT that sends us back to the Constitution.
Imagine a resetting to the Constitution - Imagine a resetting to civility and responsibility - Imagine a resetting to business, service, LIFE being local and from some farm in China or Mexico....
I go back and forth between excitement for what is coming and dread....but whatever is coming - I WILL BE HERE and I WILL BE PREPARED!
I have a sister post about Gold and Silver that will post tomorrow....I think all this goes hand in hand so check back first thing in the morning - sorry, but I suck at teasers :)
Pray, Praise, Prepare
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Great post. I'm so worried about things, as well. I got home from work and heard about a couple of the executive orders today that I had to talk about them on my blog, but I am extremely worried about what else may come. All these ideas that they are talking about... horrifying.
First: what is a national bank
Second: our banks now are controlled by the Federal Reserve. Right?
Third: What is the Federal Reserve and who runs it?
after I get answers to my questions, I will comment some more
Anon - The Federal Reserve is NOT a Government Agency in any way. It is a PRIVATE - INDEPENDENT entity that controls OUR money system...Its actually amazing that such an organization has such control over our lives. I find it disgusting...but I digress.
The "Fed" is run by private bank owners (if memory serves) and even Al Gore's daughter married one (the last tidbit I didnt google to verify, just remembering, so take it for what thats worth).
As far as NATIONAL BANK - the Government is talking about taking over Banks. The GOVERNMENT WOULD OWN THE BANKS - you know how well they handled Fannie and Freddy - letting them close to our banks should scare us to death.
The way banks run currently is they can choose to be regulated by the Federal Government or the State Government. There has been a rush lately for banks to change their charters from Fed to State.
I hope I answered everything...
Comment away :)
I am not sure the bank grab (defined for this sake as nationalizing at least some of peoples savings) would lead to a very dramatic change in how everything in our society works. You can't really tell what will happen to a strange object (as our current complex financial system is) if you shoot it with a shotgun (massive trauma/ bank grab) until you shoot it with the shotgun. On a side note I spend a good amount of my youth shooting random things with shotguns.
At a minimum a couple generations (think ages 10-50) worth of people would opt out of the banking system. Get a paycheck, take it to that bank and cash it. People might even get paid in cash after that. Keeping fairly large amounts (hundreds of dollars)of cash on your person would be normal with larger amounts at home.
Illegal immigrants do this now and get by. In this light we could learn some things from them.
Having the .gov own the banks would be an excellent way for them to control who has the money. Or, who is getting the money to spend. If you don't have .gov approval for getting the money, or spending it, then you won't have any. It's just simple Revelations in action. Either get the 'mark' and eat, or don't and starve. Simple. They control the money, they control the people. Just like making a sandwich and deciding which kid eats first.
Shy
BEANS AND BULLETS NOTHING BETTER
Hank Paulson worked for Goldman Sachs for more than 20 years leaving the company with over $600,000,000.00 in company stock. The original "bailout" gave him full reign over the money given to his buddies on wall street. And Tim Geithner is a crook?????
Read up on the Net Capital rule...Foreclosures, Fannie Mae, and Freddie Mac are not the cause of the current fincancial situation. GREED AND IRRESPONSIBLE LEVERAGE ARE.
"The passions of man will not conform to the dictates of reason and restraint without constraint."
Alexander Hamilton
Free Markets must be regulated to remain free.
Jay forced me to give him my log in info... sorry I still love you!!!
"Rebecka" - There is enough blame on both sides to go around.
Mortgages given to people who could not and should not have been able to qualify was begun under Bill Clinton and went through George Bush's terms with both men pushing this agenda.
Fannie Mae was lead by the live in lover of Barney Frank who just a couple months before the collapse touted how financially secure the company was...
Chris Dodd still wont release his records that show how involved he was, but the WSJ wont let it go - they are keeping after him.
The Fed's manipulation of rates FOR YEARS has so supressed any minor natural adjustment in our monitary system that the upcoming HUGE adjustment will be painful.
Alexander Hamilton was wrong. He touted a strong national government and bank.
A truly Free Market would have kept the Government OUT and wouldnt be in the situation we are now. Banks that wanted to STAY in business wouldnt have loaned to people that would not have been able to pay back. These banks were FORCED into these loans by pressure from the Government as well as lawsuits from different groups, some of which was ACORN - guess how was attorney of record on one of the first cases? Our current President - what a shock....
Everyone involved in this is a crook...Any time during the Republicans' control of Congress they could have notified the American People that things werent right, but it was in their best interest to let people make money on the housing bubble knowing that at some point it would burst or at least hoping it wouldnt. Or they were too stupid to realize...The fact that Geithner was nominated shouldnt have been a shock it is par for the course of a long line of crap the Government has funneled our way since 1992....
If we want a safe monitary system - the Government needs to get out - there needs to be better disclosure regarding the Stock Market and companies should succeed or fail on their own. There is no such thing as "To Big To Fail" - and we the tax payers are paying for this...its just almost unfathomable. Just as FDR extended the Depression BY YEARS by "trying to spend us out of it", so the previous administration and this one that has followed is going to do the same.
Buckle up - its going to be ugly....
And Rebecka - LOVE YOU TOO :)
Yeah but the Super Bowl's got everyones attention and after that another distraction will arise. People just don't care. They don't want to think. They want to be spoon fed by the nanny state. As long as they are able to consume like they always have they could care less what happens to our country. They are asleep and that's the way they like it.
Nomad - your comment sent me on a 20 minute hunt for the now, Quote of the Day...
Thanks :)
Pearls,
If the government takes over the bank - what makes you think that cashing a check might be possible? They wouldn't have to pass a law or make a regulation, just make a bank policy - an employer is required to direct deposit pay checks. Ergo, you would have to have an account to be employed - your account ID might be the new National ID. Ooh, how slippery that slope looks! They could even rescind using currency to pay debts. They wouldn't even have to print money - or maybe reveal how much is in float! Congress must be drooling!
If the government is part owner of the GM and Chrysler, does that mean they can fire the UAW, like Reagan did with the Air Traffic Controller's Union? That would be one way to bring the cost of cars down. Maybe even to the cost of the Subarus and Toyotas that are build by Americans, here in America. "Buy American" indeed.
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