Fed Proposal Allows Banks To Seize Your Money
Submitted by go213mph on Fri, 07/20/2012 - 22:23The New York Fed has introduced a framework to give banks the right to suspend account withdrawals at will to defend against financial panic.
The shadow central planners have proposed new contigency plans to prevent the Great Depression style bank runs that are hitting Europe from spreading to America.
Their solution is the creation of a framework that consists of “capital controls” which allow financial institutions that find themselves in hot water to limit or outright suspend customer account withdrawals.
Our beloved regulators seem not to care the slightest that these institutions put themselves in hot water in the first place by taking up certain financial positions that put their customers’ money and the global financial system at risk.
Instead the message is clear – Our banks are too big to fail and if they need to seize their customers deposits to prevent them from failing then we must allow it.
http://dprogram.net/2012/07/20/too-big-to-fail-fed-proposal-...
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Those who oppose this type of
Those who oppose this type of behavior are not few and far between. The problem is, most of them aren't 'aggravated' enough about it to do anything about it. One thing that I've VERY QUICKLY grown sick of, is how many people I know that just say "Well that's how it is" and accept every ounce of BS that gets thrown their way. They've rolled over and given up hope of fixing anything, and only spring to life for the things that are unadulterated, fake conflict, like the 2 parties bickering between themselves. They've fooled themselves into thinking that the pointless arguing between the 2 'wings of the beast' is more productive than actually changing things caused by the bankers that run both parties.
On a side note I'm reminded of my best friend's grandfather, who is fearful of banks for this very reason. That's about all I can ever agree with him on though...(quite the bigot that one).
They seem to know what's coming.
I hope everyone here is a step or two ahead of them. I already have my "capital controls" in place.
Undo what Wilson did
Well, considering the fact
Well, considering the fact that we are subjected to a fractional reserve banking system already, your money is not really "IN" the bank anyway, they already have "seized" it and use it.
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"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre
This certainly would make me
This certainly would make me take all of my money out now, and at least put it in a credit union or something. Yes, getting money orders is a hassle but it could not beat not getting your money. So I guess they would just bounce checks if you wrote them to "pay" a neighbor or something, huh?