The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label deposits. Show all posts
Showing posts with label deposits. Show all posts

Thursday, September 15, 2016

Got gold? Goldman Sachs and Wells Fargo scandals show why it is no longer safe to store your wealth in a bank

Within the past seven days two major banks revealed why it is no longer safe to hold your wealth in financial institutions.  First with the Wells Fargo fraud scandal, where employees opened over a million fake accounts under real people's names to commit identity theft, and then with Goldman Sachs, who was discovered to have re-hypothicated customer deposits to use in making risky and speculative bets in the stock markets, the bottom line is that there are few protections available for depositors to protect their money in a bank today.

All this shows that not only have the regulators and the government accomplished nothing in 'fixing' the problems that allowed banks to commit fraud and crimes at will, but now they have given many of them some legal justification to do so... as in the case of Goldman Sachs where the Dodd-Frank Wall Street Reform Act turned your deposit into an unfunded liability that allows banks to do with your money as they see fit.

goldman sachs
As Goldman Sachs Group Inc (GS.N) has built its U.S. consumer bank, it has established a team to put its deposits to work on Wall Street, a telling development about Goldman‘s ambitions for the retail bank. 
Led by 40-year-old Goldman partner and credit trading veteran Gerald Ouderkirk, the team’s job is to use consumer deposits and other types of funding for trades, investments and big loans to earn profits, people familiar with the matter told Reuters.
It is no longer a matter of being prepared to deal with taking your wealth out of a bank only when a potential financial crisis appears on the horizon, as the possibility of you losing your money during even normal times is now just as great.  And in the end it is our responsibility, and not our brokers, bankers, or our government's, to protect our wealth and to know the playing field as it exists following the changes that took place after 2008.

Got gold?

Monday, July 25, 2016

Got your wealth in gold? Dutch bank to begin negative interest rates on customer deposits

Until now, negative interest rates pretty much were only affecting sovereign debt, and to the tune of over $13 trillion to date.  But on July 24 one bank in the Netherlands is now setting the precedent to institute negative rates on common depositors, meaning that it will now cost you money to hold your cash in a business checking or savings account.

Negative interest rates are the desperate concoction of central banks to try to force people to spend into an economy rather than save for emergencies or the future.  And when you add in the fact that banks in Portugal and Italy are both standing on the cusp of new taxpayer bailouts, any money that you own or control is quickly becoming fair game for banks and governments to seize to protect their own financial insolvencies.

ABN AMRO 3
One of the largest Dutch banks, ABN Amro, has now warned its business clients a negative interest rate on the business accounts is in the works. The bank is currently updating its terms and conditions and will more specifically include its right to reduce the interest rates below zero as the bank wants to ‘protect itself’ against the continuously changing market circumstances. - Zerohedge
Fortunately, there are a few ways that you can protect your wealth from confiscations, bail-in, or loss of purchasing power, and that is through the ownership of bitcoin or gold.  And in particular, in a company, business, or process that allows you to store it in that asset, but have it available to be interchangable with any currency you need to be able to pay bills, purchase products and services, or simply just to keep it outside the banking system.

Wednesday, May 25, 2016

Is there any security in the markets that Deutsche Bank didn’t manipulate?

As more information comes out regarding the investigation into Deutsche Bank, we have to wonder if there are any securities out there that the German investment bank didn’t rig and manipulate.  That is because on top of the acknowledgement last month that they rigged the gold and silver markets for several years, on May 23 it has now been verified that Deutsche Bank also rigged stocks.
Since the U.S. began allowing corporations and banks to function outside GAAP, and mark to market accounting, many of these entities use holding companies to dump bad assets into during times when they are to report earnings.  This of course inflates the value of the bank or business, and perpetuates false shareholder values and unjustifiable bonus distributions.
But eventually all reporting, both honest and fraudulent, comes to light and it appears that securities going back to 2013 were hidden to help Deutsche Bank’s balance sheet look better than it actually was.
market manipulation
Read more on this article here...

Monday, May 16, 2016

Major banks desperate for liquidity want you to open new accounts

An interesting thing happened along the way to insolvency for major banks dependent more upon zero interest rate borrowing from the Fed than from everyday depositors.  And that being, the banks now desperately want your money and are willing to pay for it.
Within the past few weeks, both Goldman Sachs and Deutsche Bank are offering between 1-5% yields for simple savings accounts when for the past seven years depositors were not only receiving less than 1%, but the days of free checking were now long over.
Deutsche-Bank
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Friday, December 18, 2015

Banks take advantage of interest rate hike to raise borrowing costs without upping interest to depositors

Almost immediately after the Federal Reserve raised the discount rate from near zero to .25%, banks began to raise the cost of borrowing for mortgages, credit cards, and other loans.  In particular, Wells Fargo, PNC, and JP Morgan banks raised their prime borrowing rates to 3.5% less than five minutes after Chairman Yellen’s announcement.
But while the cost of borrowing from banks is increasing, the opposite end appears not to be, and that is interest paid to depositors from which banks use in their lending to make profits at that prime plus rate.

Read more on this article here...

Thursday, October 1, 2015

Anonymous initiates Operation Black October to push people to remove their money from banks

On Sept. 20, the hacktivist group known as Anonymous posted a communique on their website to officially commence Operation Black October, and to get people around the world to kill the financial system by getting them to remove their money from banks.  This operation comes as the global financial system teeters on the precipice of a new Lehman moment where companies like Glencore, Trafigura, and Deutsche Bank sit on the cusp of collapse or insolvency, and where the fears of a new bail-in scheme could soon find more depositors out of a large portion of their funds.
In addition to removing your money from all banks, Anonymous is also calling for a cease and desist of using credit cards, debit cards, and the taking out of loans, and to instead to have people do their spending using only cash.

Read more on this article here...

Sunday, May 24, 2015

Can you still trust banks when the FDIC has less reserves to cover depositor losses than in 2008

We have already had examples of bank bail-ins.  We have had not just the United States, but all members of the G20 enact a resolution mandating legislation to allow for bank bail-ins, and the confiscation of customer deposits.  We have had the United States under Dodd-Frank declare your deposits as unsecured creditors, and at the lowest end of the scale for reimbursement in the advent of a bank collapse.
We have had financial institutions such as J.P. Morgan and Bank of America con Congress into allowing their derivative assets to be placed under the FDIC as a primary creditor, and according to the agencies own 2014 annual report, the deposit insurance corporation has even less reserves to support account holders in the advent of a bank failure today.
So why do we still trust banks with all this evidence showing that during the next banking or financial crisis, Americans will lose most or all their money?
Read more on this article here...

Monday, April 20, 2015

New Greek capital controls shows why Karatbars is the solution to banks

As the Greek financial situation continues to deteriorate, their legislature on April 20 issued a new decree that forces all banks in the EU country to deposit all non-used cash into the central bank to both strengthen the primary lender of last resort, and to provide a means for Greece to leverage additional capital to issue more debt.
Greece issued a legislative act on Monday requiring public sector entities to transfer idle cash reserves to the country’s central bank, as part of efforts to deal with a cash squeeze. Greece has been tapping into the cash reserves of pension funds and public sector entities through repo transactions as it scrambles to cover its funding needs.
Monday’s act excludes pension funds and some state-owned firms. Cash reserves that are needed by these bodies for their immediate payment needs are also excluded from the regulation. - Reuters via Zerohedge


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Wednesday, January 15, 2014

Beginning in April, Wells Fargo to charge $5 to customers for every deposit

On Jan. 13, customers of Wells Fargo bank received an incredible shock as many received letters from the institution stating that beginning on April 7, new fees would be assessed on their accounts each time that they made or received a deposit.  This new charge would occur for transactions such as when your employer directly deposits a paycheck into your account, a customer transfers money from one account to the next, or on any drafts made in both U.S. and international currencies.



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Wednesday, October 16, 2013

IMF proposes a 10% tax on all bank deposits to pay for sovereign crises

First there was Cyprus, where upwards of 60% of all bank deposits were confiscated to bail out private bank insolvency.  Then came new initiatives by several countries, including Canada, New Zealand the the ECB, to take depositor funds and use them to bail out financial institutions during the next economic or monetary crisis.
And on Oct, 14, we have the IMF proposing a new 10% tax on all European depositors to help bail out the increasing sovereign debts that have only expanded in the Euro Zone since the credit crisis of 2008.
 
Read more on this article here...