As readers to this Blog are already aware of the great risks in keeping your savings in the bank or credit union.
We have been reporting the folly in false beliefs that bank deposits are safely insured and protected with evidence that everything is rigged.
The trend is to withdraw saving deposits and your support in the corrupt global system. The upper class are having their wealth stolen too.
Aware adults will consider only keeping budgeted living expenses in the banks and credit unions, savings would be moved elsewhere…
Below is an excellent report from Dave; please research and share. ALERT: SERVER DOWN, thus we will amend this post to include the full reports for open discussions, self-education and research. Last updated: 31 May 2014 and became very lengthy.
Be Aware, be prepared, and be creative. ~Ron
Unless You Want to Go to Prison, Read This Before Taking Money Out of Your Bank
28 May 2014 thecommonsenseshow.com
George Soros won’t go to prison for taking his money out of the bank, but you could, if you are not very careful.
In response to yesterday’s article which detailed how it is a good idea to monitor George Soros’ money movements, because they are predictive of future economic collapses as they have been so many times before. We should all be more a little more than nervous when Soros, in the first quarter of 2014, removed his money from three megabanks.
“Rick” wrote to me following the publication of yesterday’s article with some very pointed concerns and questions. Here is his response:
“Ok, the idea of removing your money from the bank for me is a joke! I have a substantial amount in 3 different accounts. It’s VERY difficult to remove more than $8,000 or $9,000 at a time without extreme scrutiny from the IRS and the DEA. Plus, the banks will tell you that frequently they don’t have enough on hand to give you even $8,000. If you close your account, guess what? They give you a check, NOT cash! So you have to go to another bank WITH A CHECK once more!
So, how does one remove their money from the bank without causing major transaction reports to be filed with the government about your banking activities????
Dave, thus, please give us tips on how to remove substantial amounts of cash without incurring the wrath of the government, and how to take out large amounts of cash to begin with, as the banks discourage taking out more than $1,000 to $3,000 dollars in any given transaction.”
At first glance, Rick appears to be correct. The odds are stacked against all average depositors. With all that is available to read on this topic, it is mind boggling regarding how few people are preparing to act to preserve what assets they have remaining by not removing their money from the bank. Because you have put your money in the bank, you no longer own your money.
The courts have ruled that once you deposit your money in the bank, the bank owns your money. You virtually are paid no interest for the hard earned money that you place in the bank. And if inflation is only at a modest 5% rate, your hundred thousand dollars is worth only $95,000 after one year. In a decade, your real buying power is reduced by about 50%. And where did the other 50% go? Because of fractional reserve banking, the biggest money scam in history, the banks can take $10,000 and turn it into at least $90,000 by doing absolutely nothing but adding some zeroes after your name, on a computer scree, and then loaning out the money, at interest, while you are paid a minuscule interest rate. This practice adds to the inflation rate and further erodes your savings.
All of the above, dictates that we should all take our money out of the bank. Why do I risk starting a run on my former and biggest holder of my money, Bank of America, by withdrawing my money and presuming that many fellow depositors will read this and rush to withdraw their money too? The very biggest reason to is because they pay me near zero interest. Also, even if there is an infinitesimal chance Bank of America will not repay me in full, whenever I ask, switches the cost-benefit conclusion from stay to flee.
The biggest reason to take your money out of the bank is because it has absolutely no protection. The FDIC has only about $25 billion in its deposit insurance fund, which is mandated by law to keep a balance equivalent to only 1.15% of insured deposits. If a banking collapse were to be on the near horizon, the banksters are not going to notify you because they would not want to incite a bank run. With only 1.15% of all deposits being insured by the FDIC, your money would be left vulnerable and only the elite would be warned as they quietly transfer their money to a safer haven. How do I know this? Because this is exactly what my research discovered on the money movements preceding the Gulf oil spill, as it was revealed that on the morning of the explosion, Goldman Sachs issued a “put option for preferred insiders” in Transocean (the owner of the Deep Water Horizon oil rig) and the elite had their stock profit margin guaranteed while everyone else took a financial bath! This is the undeniable pattern of the global elite.
Additionally, your bank account has been collateralized against the derivatives debt.
The bankruptcy reform laws stemming from the Bankruptcy Reform Act of 2005, derivatives counter-parties are given preference over all other creditors and customers of the bankrupt financial institution, including FDIC insured depositors. This gives what the experts call “super priority” in terms of the line of succession from which to collect bankruptcy monies. Bank of America has conspicuously co-mingled their derivatives debt with your savings account and as such they have every legal right use your money to cover their debt. Oh, they would never do that you say? I have bad news for the uninformed, they already have done that very thing. In the MF Global debacle, the reason that MF Global customers lost their segregated account funds was because the MF Global debt load was caused primarily because of their derivatives debt which, under bankruptcy laws, gave derivatives claimants super-priority in the bankruptcy proceedings. In short, you do not matter.
Times Have Changed
Taking what was your money out of the bank is no longer a matter of walking up to your friendly teller with a withdrawal slip and the teller cheerfully honors your request and you calmly exit the bank with your money in tow. In fact, your teller is trained to look for certain indicators in any cash withdrawal of any significance.
As you move to withdraw the bulk of your money, there are three federal banking laws that you should be cognizant of, namely, Cash Transaction Report (CTR), a Suspicious Activity Report (SAR) and structuring. Before proceeding with the planed withdrawal of your money, I would strongly suggest that you read the following federal guidelines as it relates to CTR’s as produced by the The Financial Crimes Enforcement Network (FinCEN). All the federal regulations contained in this article are elucidated in this series of federal reports.
Before withdrawing your money, there are three regulations to be concerned with.
READ MORE: thecommonsenseshow.com
Federal law requires that the bank file a report based upon any withdrawal or deposit of $10,000 or more on any single given day.The law was designed to put a damper on money laundering, sophisticated counterfeiting and other federal crimes.
To remain in compliance with the law, financial institutions must obtain personal identification, information about the transaction and the social security number of the person conducting the transaction.
Technically, there is no federal law prohibiting the use of large amounts of cash. However, a CTR must be filed in ALL cases of cash transaction regardless of the reason underlying the transaction. This means your cash transaction will be on the radar.
Structuring and SAR
There will undoubtedly be some geniuses whose math ability will tell them that all they have to do is to withdraw $9,999.99 and the bank and its protector, the federal government will be none the wiser. It is not quite that simple. Here are a few examples of structuring violations that one should be aware of:
1. Barry S. has obtained $15,000 in cash he obtained from selling his truck. He knows that if he deposits $15,000 in cash, his financial institution will be required to file a CTR. Instead he deposits $7,500 in cash in the morning with one financial institution employee and comes back to the financial institution later in the day to another employee to deposit the remaining $7,500, hoping to evade the CTR reporting requirement. Barry should have used multiple accounts to conduct this transaction.
2. Hillary C. needs $16,000 in cash to pay for supplies for her arts and crafts business. Hillary cashes an $8,000 personal check at a financial institution on a Monday. She subsequently cashes another $8,000 personal check at the bank the following day. Hillary is careful to have cashed the two checks on different days and structured the transactions in an attempt to evade the CTR reporting requirement. Hillary should have made irregular deposits on staggered days.
3. A married couple, Bill and Hillary, sell a vehicle for $12,000 in cash. To evade the CTR reporting requirement, Bill and Hillary structure their transactions using different accounts. Bill deposits $8,000 of that money into his and Hillary’s joint account in the morning. Later that day, Hillary deposits $1,500 into the joint account, then $2,500 into her sister’s account, which is later transferred to Bill and Hillary’s joint account at the same bank. Again, Bill and Hillary should have used multiple banks.
The aggregate total of the three transactions totals more than the $10,000 threshold, therefore, a SAR would be filed by the bank and you would be the subject of a federal investigation as all three of the above cases clearly violate the federal banking laws related to structuring. It is a federal crime to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement. In these instances, the bank is required to file a SAR which serves to notify the federal government of an individual’s attempt to structure deposits or withdrawals by circumventing the $10,000 reporting requirement.
Structuring transactions to prevent a CTR from being reported can result in imprisonment for not more than five years and/or a fine of up to $250,000. If structuring involves more than $100,000 in a twelve month period or is performed while violating another law of the federal government, the penalty is doubled.
Much like the enforcement of our tax laws, the federal government’s enforcement of its banking laws as it relates to CTR’s, SAR’s and subsequent structuring is quite draconian. Civilian asset forfeiture laws come into play. The government can seize your bank accounts while it determines if a crime has been committed. The government can literally seize your assets in perpetuity without an order of the court. Of course, you could try and sue but you will be up against the deep pockets of the federal government and the case could take years. By the time your case is decided, the financial banking crisis that you are so desperately trying to avoid by withdrawing your money, could be over. So, proceed with caution.
If you ever become the target of a federal investigation, do not, under any circumstances, allow yourself to be interviewed by federal officials without an attorney present. In many cases, people go to jail and pay huge fines, not because they have committed a federal crime, but because federal officials state that they have lied or misled them. And if you do not have an attorney present, it is your word versus the federal government. This is how the federal government sent Martha Stewart to prison.
What to Do
The best way to avoid getting your money caught in the bank in the midst of a bank run would be to not let the lion’s share of your money ever cross the bank. Do not allow your employer to direct deposit your check to the bank. Keep some cash at home by taking out a large portion of the money you receive from your employer. Don’t put cash in a safety box because the courts have also ruled that the banks own your safety boxes.
Use electronic transfers to buy into a mutual funds and also use checks to buy silver coins from several different companies
Open multiple banking accounts ranging from the big five megabanks to your local credit unions. You could withdraw much smaller amounts until the sum total of your accounts is greatly diminished and is in your possession. To open the accounts, simply write a personal check from your home bank. Of course, in these cases, the bank could hold the check for 15-30 days.
Use checks and case to pay all of your debts.
Prepay your taxes and some other obligations with checks. Make sure you only pay safe entities. Your local government is not going to disappear, even in a depression. Therefore, you can prepay property taxes.
Find a safer bank than the mega banks. Use credit unions as they are one level removed from the Federal Reserve. .
Please add to the list with your comments.
I predict the Federal Reserve will steal your money by faking a cyber attack In fact, last year, FEMA and DHS actually practiced for this event on October 23rd and 24th of last year.
To people like “Rick” you probably will not be able to save everything, but rest assured, you can still save something to live on. The time to have acted was yesterday.
I can anticipate what some of you are now thinking, because I have thought the same thing! If all of us attempt to take even just a portion out of the bank, the Federal Reserve and their servant, the federal government, will move to stop all cash withdrawals. Won’t that kind of move serve to expose the criminality of the Federal Reserve and the federal government for all to see? Awareness is the first step to action and we have the ability to force several issues out on the open at this time.
[That concludes the report, but because the server went down I am including other related archives for broadening the discussion. Read more below.]
The Theft of Your Retirement Accounts Will Accompany the Seizure of Bank Accounts
A couple of readers recently wrote to me and asked me when will the collective theft of our bank accounts commence? I answered, 1913, as that is when the Federal Reserve was created. Today, a dollar purchases 3% of what it did just over a century ago. The 97% went into the pockets of the banksters. The banksters have been working diligently for quite some time to separate you from your money.
As I have detailed in the past two articles, there are very ominous signs that a bank holiday is on the horizon and is rapidly approaching. The good news would be that if that were all the banksters were after, we would be fortunate. There are now clear and definitive signs that the banksters are going to take every financial aspect of our collective lives. In this article, we move beyond the intended and coming theft of our bank accounts and first review the beta tests that have been performed by the banksters with regard to the bailouts ,MF Global, printing money to buy $40 billion dollars in mortgage backed securities every month and the latest ruse, the intended seizure of retirement accounts. I will also mix in a “Putin” surprise as well.
The Bail Outs: Beta Test #1
I am still haunted by the image of former head of the Goldman Sachs crime syndicate and former Treasury Secretary, Hank Paulson, telling a closed session of Congress that if they did not grant Wall Street “bailouts” there will be martial law in the streets as a result of the economy collapsing. Ask yourself, if almost six years later and three bailouts later, are Americans better off having sacrificed the bailout money in lieu of maintaining roads, improving schools as well as running the national debt through the ceiling and destroying the financial heritage of our children? The Federal Reserve and their bankster allies can steal as much money as they need from the American people, on an ongoing process, and not so much as a whimper was recorded by our fellow sheep.
Beta Test #2: MF Global
The theft of the secured investment accounts at MF Global sets up the coming seizure of our bank accounts. Public reaction was measured and noted by the banksters at Corzine robbed his investors blind.
Who could ever forget, John “the Don” Corzine and his former company, MF Global? MF Global, a shell corporation beholding to Goldman Sachs, was led to the slaughter by the former Goldman Sachs executive and former New Jersey Governor and senator, John Corzine. Corzine’s criminal actions have directly victimized 150,000 Americans by stealing an estimated $900 million dollars of his clients’ money from their supposedly secure private account. There is also another $600 million missing dollars from MF Global. Meanwhile, Corzine avoids sharing a prison cell with Bernie Madoff by purchasing a “get-out-of-jail card” through the sponsorship of a $35,000 per plate fundraiser for that great Wall Street puppet and “Commander-In-Chief”, Barack Hussein Obama.
Beta Test #3: Cronyism and the Lack of Federal Oversight
What are the government watch dogs doing to protect our money from this new generation of robber barons? The short answer is that the feds are partners with Goldman Sachs in this monumental violation of the public trust. In fact, Goldman Sachs and friends have taken over the government.
Take Gary Gensler, a former Goldman Sachs executive partner, who like so many other Goldman Sachs gangsters, have been placed into key governmental oversight positions in order to protect the Goldman Sachs co-conspirators, from prosecution, as they continue their reign of terror upon the global economy. Gary “the gangster” Gensler is the former Undersecretary of the Treasury (1999-2001) and Assistant Secretary of the Treasury (1997-1999) and the current director of the Commodity Futures Trading Commission. In his present position, Gensler had the authority to go after Corzine for his role in the MF Global debacle and order restitution. However, Gensler has decided to protect a fellow member of the Goldman Sachs Mafia by not looking into the massive fraud and theft by Corzine and his cronies. Your tax dollars, paying the salary of federal officials who are overseeing the most massive illegal private transfer of wealth, in the history of the planet, payable to Goldman Sachs and their criminal enterprise partners on Wall Street.
You may not be one of the 150,000 Goldman Sachs/MF Global victims. However, this Robin Hood-in-reverse-scenario, in which the criminal super rich are plundering what’s left of the middle class, will soon be visited upon your bank account , your home mortgages and your pensions. These criminal banksters are in the process of stealing it all and what are you going to do about it? Our nation of entrenched sheeple will do nothing as most have not even heard about it. And the fun is just beginning and we haven’t even mentioned the ongoing MERS mortgage fraud and the theft of millions of legitimate mortgages.
Short Term Memory Loss
I was roundly criticized when I said the Cyprus scenario is coming here. I was told there would be a revolution if this happened and the government would be to afraid to try such a thing. I marvel at people who hold to such naive beliefs. The American people have been through several beta tests related to our private wealth being confiscated and no resistance was offered.
Listening to these sheep is like listening to a country song played backwards. You know the wife does not leave, the truck still runs and the guy stops drinking. Maybe it is all the fluoride in the water that is causing such widespread ignorance and apathy.
First of all, our government is not the main enemy. This is not the government we are dealing with. We are battling organized crime in the form of corporations like Goldman Sachs who have hijacked our government. They are lining up for the last great garage sale before they collapse the economy and roll out martial law. There are forces lining up to steal everything that you and I own. It has already begun but this country is so dumbed down, we do not see that it has already started.
The Latest In Stealing From the American People
The Treasury Department once again is taking federal retirement programs to buy the government more time to increase the nation’s debt ceiling. And why does the government need to raise the debt ceiling? The debt ceiling must be raised for two reasons, (1) in order to fund the banker-inspired wars of occupation and, (2) to continue to fund the largest wealth transfer in history, the bailouts. And just who is behind this nonsense? The Banksters from Basel are pulling the strings and Goldman Sachs is executing the plan. Also, the very close friends of Goldman Sachs over at Citigroup and they have their henchman in charge of the continuing rape of America by Wall Street, Treasury Secretary Jack Lew. Let me be clear, and Lew you can sue me if this not true, that it is a fact that Obama appointed one of the criminals who had a major hand in bringing down the economy to run the country’s finances.
While at Citigroup, Lew oversaw 113 tax evading accounts in Cayman Island banks. Based upon Lew’s resume, hedge funds for Citigroup where he lost almost 600 million dollars, one can only assume that is why Obama has appointed Lew to finish the job which will leave you and I with nothing.
Oh, I know there would be a revolution if the government ever dared take our retirements. At least the citizens of Greece rioted because they understand what happened. Our sheeple still hide behind the security blanket belief that “they would never do that.”
Jack’s Criminal Background
Jack Lew, from Citigroup, as I stated, was an overseer of hedge funds. You know, the hedge funds originating from the actual criminals that collapsed the economy in 2008. This is who Obama selected to run the economy. So, why does this bear repeating?
Last year, Lew announced that the government was taking the unprecedented action of avoiding governmental default through this summer by including tapping into and suspending investments into the Civil Service Retirement and Disability Fund and halting the daily reinvestment of the government securities (G) fund, the most stable offering in the Thrift Savings Plan‘s portfolio.
We have long heard that bankers that have hijacked the government would commence stealing our private wealth through the pension funds and this is exactly what the chief bankster, Jack Lew, is implementing. The next step will be to seize bank accounts, like they did in Cyprus and then step up the MERS mortgage fraud as the Federal Reserve continues to purchase $40 billion dollars in Mortgage Backed Securities every month. And the seizure of bank account will occur incrementally as is has in other countries. Certainly, George Soros recent money movements away from the American megabanks signals a major reason for concern by American account holders.
The G Fund is invested in interest-bearing Treasury securities (i.e. bonds) that make up the public debt. The Civil Service Retirement Fund finances benefit payments under the Civil Service Retirement System and the basic retirement annuity of the Federal Employees’ Retirement System, and those investments are made up of securities also considered part of the public debt. In other words, for you people who have cushy federal government jobs, Lew is telling you that the government controls your retirement.
They own it and they own you. And you people who thought serving the New World Order was a such a good idea, are you reconsidering your loyalties now?
Military and law enforcement personnel should take note on how you will be treated for your subjugation of the American people, followed by the total obliteration of the Constitution.
Grand Theft Russia
I laugh at those who think that Putin is somehow independent of the Banksters. Putin is as controlled by the banksters as is President Obama and his intended theft of Russian retirement accounts is living proof of this statement.
Russian Prime Minister Dmitry Medvedev told his finance ministers that the Russian government is “temporarily” seizing $7.6 billion in savings from non-state pension funds while it carries out inspections to insure that the money Russians channel to private pension funds, is safe. To do this, it will seize 244 billion rubles (i.e. $7.6 billion) from private, non-governmental pension funds and forcibly, but only “temporarily” place them into the Russian government state pension fund.
Russian authorities claim that they will only hold the retirement money for one year while they check to see that banking institutions are sound. We are coming up on a year and the Putin still have the money. It is hard not believe that this money will not be applied to invading and occupying Ukraine.
The Russian government explanation of why they need to seize retirement funds does not even constitute a good cover story. Many analysts state that the “temporary” borrowing of Russian pension funds by the government looks more like a case of government“ confiscation” of these private funds in anticipation of a coming crash.
Former Russian finance minister, Alexei Kudrin, recently stated that if the government is not intent on spending these retirement funds, then why are they booking the money?
Government controlled companies have expressed a negative reaction to the “borrowing” of Russian retirement funds. Most experts agree that the Russian government is making Russia a very unattractive place to invest given this new development. This apparent reckless action by the Russian government makes no sense unless the Russians, like the American bankers are attempting to acquire as many hard assets as possible.
The banksters in Russia and America are engaged in the exact same strategy. I am sure the coincidence theorists will have a field day explaining away these coincidences. Ask yourself, once a government gets their hands on a new source of revenue, such as a new tax, when have you ever gotten your money back, or has the tax been withdrawn?
How much of the bailout money has been paid back by the banks? Is MERS still stealing home mortgages and are they still in existence? Does MF Global thief, John “the Don” Corzine, occupy a cell next to Bernie Madoff? And do not forget that last year, the Seventh Circuit Court of Appeals, in Illinois, announced that once you deposit your money into the bank, the bank owns your deposit. These central banking thieves are in the midst of stealing every hard asset that they can. And they think can seize much more and that will be the topic of the part of this series
Footnote: For you people who thought serving the New World Order was such a good idea, are you reconsidering your loyalties now? You NSA guys who are spying on us right at precisely this minute, do you think your pensions are safe? To you potbellied perverts from the TSA, do you think your retirement will be there when you are done groping our wives and children on behalf of the globalists who seek to dehumanize the traveling public?
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New Federal Database Will Track Americans Credit Rating, Other Financial Information!
Posted May 30, 2014
As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives — including their Social Security numbers — in a new national database being assembled by two federal agencies.
The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy.
Gov’t Paychecks Mandated Direct Deposit
…”Is MERS still stealing home mortgages and are they still in existence? Does MF Global thief, John “the Don” Corzine, occupy a cell next to Bernie Madoff? And do not forget that last year, the Seventh Circuit Court of Appeals, in Illinois, announced that once you deposit your money into the bank, the bank owns your deposit. These central banking thieves are in the midst of stealing every hard asset that they can. And they think can seize much more and that will be the topic of the part of this series” -Dave Hodges
Sadly, ALL government paychecks will be electronic transfers directly into banks. The people will have to fight this in COURT!
ONCE YOUR MONEY IS IN THE BANK, IT IS NO LONGER YOUR MONEY!!!
You as a depositor into the bank became an “unsecured investor”!
You receive no interest (less than inflation), and if the bank has financial difficulty your assets are lost to settle their primary investors (not you).
If you still keep your savings and retirement funds in these institutions rather than your personal control know that your assets are at risk.