Wednesday, March 20, 2013

The Great Shell Game

The antics in Cyprus illuminate the real intentions of the globalists -
Banks on the Mediterranean island may never reopen, Germany warned after lawmakers late Tuesday turned down a $12.9 billion deal that would have seen Cypriots lose up to 10 per cent of their bank deposits.

Thousands of Cypriots withdrew savings over the weekend fearing the deal might pass, emptying ATMs and sending global money markets into a steep dive.

Banks were ordered to remain closed after finance officials predicted a run on savings and a huge outflow of capital if they were to reopen.
 But wait, it won't, couldn't, shouldn't even remotely happen here -
"The district court determined that under Utah law the relationship between a bank and a depositor is generally that of a debtor to a creditor, citing Walker Bank & Trust Co. v. First Security Corp., 9 Utah 2d 215, 341 P.2d 944, 946 (1959). United States v. Intermountain Region Concrete Co., 636 F.Supp. at 284."
So, when you're considering the question of whether you should "leave your money in the bank or not", you are committing a category error.  What you are actually deciding is "do I want to lend my money to this particular corporation or not"?

These days, loaning one's money to banks strikes me as about as wise as loaning it to the homeless guy living under the bridge.  Sure, there is a chance he's not going to spend it all on alcohol and default, but you have to assume that is the most probable outcome.

Not to be outdone, Chase appears to be practicing as well -
Millions of Chase Bank customers were affected by an unfortunately timed glitch which resulted in their checking and savings accounts showing a zero balance for several hours yesterday, prompting many to take to Twitter and express panic that their money had been stolen.
After Chase was hit by a denial of service attack last week, the bank blamed an “internal” issue for the glitch which left shocked customers thinking their online and mobile banking accounts had been emptied of deposits. The issue was resolved by 7:30pm PST.
 Don't say you haven't been warned. Repeatedly.

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