read a riot act to Cypriots, warning them to stop their CBS (Cypriot BS).

raisedafool

IT IS OUR problem,, you must be an Obama voter, Totally CLUELESS how the world runs.

WE the PEOPLE FUND OVER 25% of the IMF,, So it is OUR problem.

Glad I could help with today's history lesson.

raiseafool-it will be happening here if Obama can't be persuaded to rein in his spending and focus on the deficit-time is running out.

defend

WE the PEOPLE FUND OVER 25% of the IMF,, So it is OUR problem.

I believe the figure is just under 18%. But your point is correct. It is also our problem. That's the way the world market works today.

And how long will it be before Obama and the gang get around to confiscating money from our bank accounts? With all of his deficit spending and debt creation it is bound to happen sometime. Not to despair because, with inflation set to take off as a result of the fed continuing to print and pump money into the system, the value of the money in your accounts is shrinking away as we speak. So by the time they go to confiscate it it will be worth a mere fraction of what it is presently worth. Obamanomics at work.

this affects our markets smart guy :-)

"No-one will ever deposit money again into the banks on the island. It is the end of our economy,"

This is a very dangerous precedent - confiscating private property to pay for the mistakes of the government. It will dramatically weaken the trust in the banking system, and cause a massive flight of capital. If the people with savings in European banks withdraw their money from fear of it being confiscated, the banks will fail and lead to a collapse of their economy.

Many economists trace the cause of the Great Depression to the massive number of bank failures in the 1929-1933. See link below;

http://www.econreview.com/events/banks1929b.htm

Very short-sighted.

The article said this problem was caused by the threat of a levy on back accounts in Cyprus. How can they touch someone's private bank account? It seems to me that would be illegal.

The IMF uses a quota system to determine how much each member country is obligated to contribute. In 2012 the United States was by far the biggest donor, contributing nearly 18% to the total contributions, followed by Japan with 6.6% and Germany with 6.1%. The BRIC nations (Brazil, Russia, India and China) will be giving more because the head of the IMF has given China the third strongest voice of the 187 nation group and promised Brazil and India more say. The IMF approved a record $91.7 billion in emergency loans last year and provides a third of bailout packages in Europe. This year the United States has told the IMF they will not be contributing, howver, with our government that remains to be seen!

Does anyone really think they can trust banks. The banks own the congress...period.

Savers must surrender 10 percent of their bank deposits.

Don't be a fool, Obama probably stood up and took notice to this. Just waiting on the FED to lure more people back into the market, as it is being manipulated daily.

Could this result in a run on the banks here? Wouldn't surprise.

If you guys think that the US government isn't playing with taking control of your retirement savings, think again.

The U.S. Consumer Financial Protection Bureau which was formed in July 2011 starting debating whether it should step into the management of the nearly 20 trillion dollars US citizens have saved under the guise of "protecting them".

I for one have watched how well the US government has managed our tax dollars over the years and quite frankly wouldn't trust them with a child's piggy bank. But 20 trillion dollars is such a big target, I am sure they just can't resist. A whole new bureaucracy would be set up to do this and with it comes waste and more "fees" out of my money to pay for someone else's government job benefits. Not to mention all the prime time advertising telling me how they are doing such a good job.

Look for our markets to dip on this news

Coming soon to an ATM or bank - near your neighborhood

Keep up crazy spending - and extending the debt - and giving people money for doing nothing - but being alive

You get a nice receipe - "Perfect Storm" if you will - of financial crisis and government take over - of your money

It'll never happen here - right - right - right?

Never - Never ever - say you didn't see it coming - putting it on "ignore" - doesn't make it go away

Rockin - I believe most banks are closed on the weekends and they have a holiday today...so ATM's was possibly the only way to get their money. That doesn't make them Twits.

America wake up!! All those that voted for Obama - pay very close attention....he is heading this nation in the same direction. If he can get on television and lie to the people and say that there is no spending problem or a problem with the deficit...he will lie to you until the day you are sitting on the street with nothing.

At a time of financial crisis in this country when he tells us all to tighten our belts - he is out playing golf, hosting private concerts, and his family is taking expensive trips to Aspen, etc.

This Cyprus crisis will most definitely affect each and everyone of us at some point. Spain, Ireland, Greece....who is next?

Profreedom is right....markets first...your retirement, 401K's, gas prices, job market...and this one can not be blamed on Bush and the Republicans.

At least they can eat cake!

SSGirl-7283972 "America wake up!! All those that voted for Obama - pay very close attention....he is heading this nation in the same direction."

You don't understand - The 'welfare vote' doesn't HAVE any savings to confiscate, so they could care less about people who have saved all of their lives - or the Debt, because someone ELSE will have to pay that back.

This is just another example of Obama's plans for 'wealth redistribution'.

But don't worry - It can't happen here because the government has a very simple solution to accomplish the same goal - It's called INFLATION, caused by simply printing more money to make those with savings relatively worthless. European countries don't have that option - unless they abandon the Euro.

Coming to a city near you.............

When you have a government borrowing $1 TRILLION a year, owes $17 Trillion currently, has $125+ Trillion in Unfunded Liabilities, and then says we don't have a debt problem then the ONLY way to solve that without defaulting is to confiscate wealth. And with TRILLIONS in 401k's and wealth being held "on the sidelines" you know our government is salivating at the opportunity to somehow get their hands on that wealth all in the name of "fairness" and "for the country".

The minute and I mean THE MINUTE there is any talk on that subject to where it sounds like there is a valid conversation by our government of considering that we will have a run on our banks and a financial collapse is a certainty. But that is the only possible solution to even having a CHANCE to fix our current debt problem.

BTW, a couple people have mentioned the government could use "inflation" to solve the same thing and they are right. Inflation, as Milton Friedman use to say, is "taxation without legislation" and has the same purpose. So, yes, massive inflation can do the same thing and is actually happening as well speak with the printing of massive amounts of currency right now.

So be prepared - it IS coming to a city near you. When? Your guess is as good as mine but don't think for a MOMENT it isn't already being discussed in D.C.

Don't worry about it, they can't do this to you, and even if they do, don't worry about it. - Tommy Chong

And don't worry about the chatter you heard earlier about them dems trying to take over your IRAs and 401Ks either.

Or it could be time for the people to start stuffing mattresses again.

"following the surprise announcement of a levy on bank accounts in Cyprus as part of a financial bailout"

"under which savers must surrender up to 10 percent of bank deposits"

"A Cyprus Shock"

Big Government - Taking Control - Goodbye Freedom - It's been nice - Hope you find your paradise

We all know - that the ACA - provides access to your bank account information and is closely connected by the IRS

I wonder WHO has eyes on Americans 401Ks.

Yep, the Progressives say there is NOT a spending problem, but have to cover the cost somehow.

Roy - Unfortunately it wasn't just welfare, food stamp recipients that voted for Obama..Hollywood, mainstream media, music entertainers, etc - pushed for Obama - and people with common sense threw it all the window and did exactly what they were told to do. And now we all get to pay for it.

We do have the "inflation" thing - but we also have a president that is currently pushing for socialism...which in turn means more government - more control. And surprising to me...many liberals are okay with the whole idea. They have this strange disdain for wealthy hard working Americans.

My hope and prayer is that you are right about Inflation....time will tell. The only chance that we have is 2016 and that we will get someone in office that truly does love this country and wants to see it succeed - not fail - so that Americans will be dependent on him and the government....but be self-sufficient as we once were - and right now - that doesn't seem to be a popluar thing. Getting up - going to work - paying your own way...instead of choosing to let the government pick up the tab for each of us to exist...we see how well that worked out for Greece.

The O'baggercare tax will allow the IRS to take even more than 10%....

rockin moroccan

omg i cant get money out of the ATM woe is me i am too stupid to just go inside the bank ...@!$%#in twit

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

When I was a child I thought the money I deposited was sitting in the bank in a vault with all the money that others deposited... and it was right there until I wanted it back. When my son was a child he asked me, "What do you mean you're broke. Let's just go to the ATM and get some money."

Leaving me wonder, are you very young or is something very wrong with your brain. It's one or the other.

I've always said, if you really want to crash an economy, start taxing people's wealth... I guess we'll get to see what happens when that happens now.

I see the GOP shills are out in force again today.

This article has nothing to do with President Obama, nor does it have anything to do with your paranoid delusions of government abuses of power.

The fact of the matter is that the #1 cause of bankruptcies in the US is medical debt, the medical debt that we won't have when Obamacare finally phases in completely and people have access to affordable preventative care, rather than relying upon emergency room visits.

What's more, the government can only take so much money, the federal reserve and the rich have already stolen most of it, via crooked Wall Street shenanigans and interest rate manipulation. Not to mention massive corporate give aways such as the Iraq war.

Frank - really??? Do you honestly think that we will have affordable health care under Obamacare? You will have more expensive health care, less choice, less doctors (they can't afford the fees and taxes), longer waiting times (days, months) to even get to see a doctor. If you survive the wait, then there will be additional taxes if you need any type of medical device. Hospitals will be instructed to give substandard care for those over a certain age - and not to allow them to be re-admitted if they get sick again. I hope you are very young and extremely healthy. Ask your health care provider what he or she thinks of Obamacare.

Clearly you are one of the liberals that is willing to lay down and let obama destroy this country. This is about country after country failing. And those that have failed - were led down the same path we are being led down. Begining with "free" healthcare. Nothing is free - payday will come.

What is helping to destroy the economy is the massive freebies given away prior to the 2012 election and today. Phones were being doled out - and still are - to deceased people and to non-working Americans and their children. Advertising in Mexico is to come to America - you get food stamps. The incessant borrowing and spending as though money grows on trees. The wasteful government programs that have been set up and funded. There are now committes to set up committes. All under Obama's watch. "Beware of wolves in sheeps clothing".

If you don't think that the economic downfall of other countries will not affect us....I feel so very sorry for you.

I don't care whether you are a lib or a conserv, if you don't have a major problem with a government just going into your bank account and stealing your money then you have a major problem. It looks like a lot of libs here don't seem to be too bothered by it. And that is really scary.

pro business: Unfortunately, there has already been a lot of talk about such actions. The dems have been talking about ceasing everyone's pension plans for a couple of years now. That would give them tons of money to buy more votes and the pension owners would be stuck with a worthless promise to receive a monthly payment of so many dollars.

Unfortunately, the damage the libs are doing to the economy is being painted over by the media and the politicians. Actually, I was surprised to see NBC cover this, although they are well behind others in the coverage. Obviously, this will do more damage to Cyprus and the EU, whether it is actually done or not, because new everyone knows that these politicians are willing to go to the extreme to continue on their corrupt ways. We're not even talking about a tax on earnings here. We are talking about the government just helping themselves to the peoples' money whenever they want. That means that nothing is safe from the hands of the politicians. How anyone could be just hunky dory with that is baffling.

Where would the paranoids of the world today be without Obama to kick around? Who would star in their darkest (pun intended) fantasies if Old Man McCain or Scrooge McRomney had won instead of the scary negro? Who would star as the Devil in your History Channel rendition of the complete story of all that is wrong with the world if not the duly designated villain?

Say mouth-breathers: didn't your momma ever tell you that Greece's economy is not the same as that of the United States? You're freaking out comparing apples to submarines because some rich twit is making a mint convincing you that the premiere economy of the world is exactly the same as that of an adjunct member of the European Union. Sorry you're gullible enough to think our fiat currency is that fragile, or that we're that beholden to banks. Next time pay more attention in class.

Didn't it occur to you that the "social" in Social Security doesn't stand for "capitalism, yum, good"? About that socialism you're so conditioned to be so scared of... HEY MADGE, YOUR SOAKING IN IT!! That spooky socialism kept your (white) forbears out of the poor house (which, BTW, we don't have anymore BECAUSE of social programs like Medicaid, Social Security, Food Stamps (which was originally a FARM SUBSIDY), VHA/FHA loans, GI Bills, etc., etc., etc.) Again, look to the folks making a king's ransom convincing you to gut the American social safety net is killing the country while spending more and more and more AND more on a military/intelligence industrial complex that does not feed anyone, only eats our young.

The people jerking your monetary chain are making their money. They'll be making money long after this Earth is naught but a smoldering rock with the last remnants of society fighting over the few scraps of edible food and potable water, and you numbs will still be bitching about Obama the Socialist forgetting that Bush's Prescription Plan D was Socialism, too, and Reagan's "Obamaphones" as well, and no one's testicles drew back inside their bodies because of it.

Oh, damn, would Eddie Bernays be so proud of his handiwork today. Him and PT Barnum, ya suckers; if a sucker is born ever minute then in the time it took you to read this three corpo-fascists were just brought into the world. Congrats, dad, its a TEA BAGGER!

BTW, I'll skip to the end of the book and let you in on the plot twist at the end: Fiat currency always runs a deficit because when the money is created banks can loan up to 10x the value of the fabricated currency back to consumers. Federal Bank A prints a dollar, then can loan out 10 dollars on the one it just created. Therefore, THERE WILL ALWAYS BE FEDERAL DEBT BECAUSE THATS THE WAY OUR ECONOMY WAS DESIGNED!!! Its a Ponzi scheme of the highest order because we will always have to work to pay off a debt that can never be paid down with currency that is designed to be devalued.

So keep jerking your knees every time someone invokes "The President who shall not be named (Obamamort)" because your corporate overlords made a commercial telling you to do so. Keep running scared away from all the social reforms of the 20th Century, from the unions that kept your kids from the salt mines and lowered your work hours from 27 hours/day to the civil liberties that kept the government from recording all your phone conversations in the quest to fight a war on "terror," which is a TACTIC and not a corporate entity you can destroy or ever hope eliminate (try waging a "War on Defending Yourself When Someone Takes a Swing at You" and see how successful you are or how long it takes).

It don't matter. Somewhere there is a rich white man (like Chris Tucker said in "Rush Hour 2" when the sheet goes down there is always a rich white man making money off your misery) making a merry billion off your inability to do some independent research. And if it were up to the bulk of you, he'd be doing it tax free at the expense of all the kids around you growing dumber by the minute.

Here, maybe this will help clear things up for you: http://www.youtube.com/watch?v=hH6UynI5m7Y

Folks this is more like if the US went after the banks in the Caribbean.

As the Romney's hide their money in the Caymans, so do the Russian Oligarchs hide theirs in Cyprus.

Traitors all of them.

SSGirl, do you have any evidence to back that claim up? Because every other country with universal health care has lower costs than we do for our medical care. I'm genuinely curious as to why America would be any different than the French system, where they spend a lot less than we do, but get so much more.

And yes, of course it's going to be cheaper. Between preventative services being free and the insurance companies being limited to 15% over head for group policies and 20% for individual policies, there's no incentive for them to over charge for premiums, as they'd have to refund the difference. Plus, there are provisions for people to pay more for better quality, and allow doctors and such to keep some of the savings when they save money.

So, yes, it's going to be less expensive than it is now, anybody with any knowledge at all about the subject knows that.

Frank....Keep on dreaming...that is all I can say.

When will these goofy countries tell Germany to go to hell? They must get away from that currency union. They are all Sovereign nations. They must go back to their own currency systems. The EU was a sorry example of corporate welfare sucking way too insufficient teats.

Ciewywtb42mh6sps-23 to paraphrase your post:

Wait...its all Bush's fault..oh no..it's the industrial/miltary's fault...no wait...it's rich white people fault...no no it's just regular white peoples fault...yeah yeah that's it...no no wait it's the Teaparty yeah yeah the Teaparty....jeeze just got to love those enlightened progressive leftists. They so much smarter than us dumb ol white folk.

What the hell does "white folk" have to do with being dumb or smart? Find the correct answer to that question and even you will be just a little bit smarter.

This is a very dangerous precedent - confiscating private property to pay for the mistakes of the government. It will dramatically weaken the trust in the banking system, and cause a massive flight of capital. If the people with savings in European banks withdraw their money from fear of it being confiscated, the banks will fail and lead to a collapse of their economy.

Completely QFT. This is a very dangerous and ominous precedent. This is not a tax, it is robbery to cover the mistakes of government and banks.

Folks this is more like if the US went after the banks in the Caribbean.

This is nothing like that. You are completely clueless.

Up until today we only taxed INCOME!! Liberals have often talked about WANTING to redistribute wealth but only income has been taxed to date. But is not enough for this out of control spending.

If we DOUBLED taxes on EVERYBODY (not just the rich but everybody) we STILL would not have enough to cover our deficit. That's right - take what you paid last year in income taxes and double it: there still would not be enough money.

This is scary. Because you KNOW Obama is looking at the $10 Trillion currently in 401k's that have not yet been taxed. I can definitely see him wanting to eliminate the 401k, force taxes to be paid on that money (the taxes would be around $2 Trillion), and spend it.

I mentioned this idea several years ago and said one day our government will talk about taxing 401k money and pulling that out and told I was crazy. Now it hasn't happened - yet: but with what took place in Cyprus I think it is closer than many want to believe...........

liberals are such idiots- they say the government debt isn't our problem, it's the personal debt like credit cards and college loans. What they can't comprehend is their fuccing with the economy is what is putting us in debt. Have you bought gas or groceries lately? Thanks Obama.

Looks like the gloves are off. The age of the outlaw might be upon us?

For all of you who think this can only happen in Cyprus... WAKE UP!

This is coming to a city near you! and probably sooner than you expect!

So Cypriot gubmint decided to take a portion of the accounts of foreigners. Ha ! Reminds me of the State of Florida and the city gubmints' attitudes towards tourists. They call em sand dollars. We have high sales taxes and a bed tax of 18% on top the hotel fee and sales tax. The idea is make the foreigners and damyankees pay for Florida's operations. And it works. So far we don't have an income tax. As for taxing deposits merely to grab the cash and redistribute it: That show is coming to a theatre near you. So get ready. You are either going to be a beneficiary of gubmint redistribution, or you'll have your assets taken.

Hello folks, just another bankster bailout. Most countries with a central bank kick the can down the road with paying off their debt with more debt (which is insane in itself) but the new panacea is stealing form their own citizens without discussion or warning. It's called Capital Controls and let's see how many sheeple say it is the patriotic thing to do.

In my college economic classes in a “Capitalistic Society” it was taught that equity holders lose first, than preferred shareholders followed by unsecured then secured debtors. DEPOSITORS are supposed to be the absolute last in line to lose money. Now this obviously isn’t the case. In our society the bankers are too big to fail and too big to Jail. You know their motto, privatize profits and socialize losses!

I guess the 16 trillion we bailed out the banks with in the 2008 collapse wasn't enough we are still bailing them out every month. The massive bailouts continue with no end in sight. In January the Federal Reserve gave the European Central Bank 1.2 Trillion bailout in monopoly money and another 99 billion in the last week of February.

In the US if you monitor the news media there is nary a mention of the 85 billion dollars a month that is being injected into the economy to keep it propped up. What would happen if the Fed turned off the printing presses? The economy would collapse because interest rates would spike, the bond market would crash and we wouldn’t be able to service our current debt. That is exactly what would happen!

If not for the continuous bailouts anyone with anything in the stock market would have lost everything!

Remember folks, if you don’t have your money in your pocket, you really don’t have it! THe banks are proving that possession is more than 9/10ths of the law.

Frank you are right Obama didn't do it. But when the white house was asked if it was OK to do that they didn't say no. Holy Cow! Are you kidding me?

The same govt that says debt isn't a problem. Did you know if rates weren't being held artificially low by FED printing we would be paying in the neighborhood of 800 billion a year instead of 300? That assumes the 30 year average, i.e. Clinton paid just under 5%. We pay 2% or less now because of the Bennie bucks being printed.

Do not worry about your bank account, worry about that IRA account you can't touch. The shot across the bow, prohibition on converting std IRAs into Roth IRAs. BHO will probably avoid the congress by using executive orders.

If Russia wants to help them out "AGAIN', you know there is something fishy going on.

Of their 90 Billion there in banks..$44 billion is Russian money....tad under half.

Ciewywtb42mh6sps-23 just destroyed all of you faux news trolls in one fell swoop.

When New York decides that Mississippi has had too much federal money, we may see this here. A 10% tax on all Mississippi wealth. Until then, I think we're fine. Deficits don't matter (unless the president's black) - GOP words of wisdom.

About austerity, Greece and Cyprus are "depressing" lessons.

Greek authorities downsized their government and spending. The result: Greece's unemployment rate has significantly increased. Worse is that on the international bailouts, this country is making the Greek people pay an average interest rate of 6.26% on their income. Great Britain has austerity fever. Now, there are more unemployed people in the Great Britain.

The elephant in the room: Will the Republicans learn anything from the failure of austerity?

If we look back to Hoover's response to the Great Depression of the 1930's, the answer is NO.

Not our problem hahah lol soon it will be smoking mirrors

People its all coming down its like monopoly, the game is soon ove,r this time the ones that win and have all the money though will be the loosers and the cause of al,l good for them

Please everybody, notice how Pigotry (top of the page) (the spokes person for all things Obama on here) is blaming the citizens of Cyprus for wanting to protect themselves from having their property confiscated by the government. Liberal Progressive like her and Obama believe that the government actually owns all that you have. It is merely on loan to you until such time as they decide to take it back. So you can't complain about it when they do. These are the types of people we have in places of power because voters fall for slogans and empty rhetoric. Now that you can see who they really are, please do the responsible thing and don't vote for them again. And that includes Hillary in 2016. Otherwise, what is happening in Cyprus and California may soon be happening to you.

BTW folks, what is happening in Cyprus is not that far away. Here is what the corrupt government of California is doing to try and pay for their incompetence in running the s State of California into near bankrupt status.

California's top-end taxpayers -- already steamed over a recent hike in the nation's highest state income tax -- are now fuming over a new $120 million retroactive tax grab on small business owners.

In December, the state's tax authority determined that a tax break claimed over the past few years by 2,500 entrepreneurs and stockholders of California-based small businesses is no longer valid and sent out notices of payment.

"How would you feel if you made a decision, which was made four years ago, (and) you absolutely knew was legally correct and four years later a governing body came in and said, 'no, it's not correct, now you owe us a bunch more money. And we're going to charge you interest on money you didn't even know you owed'," Brian Overstreet told Fox News from his office north of San Francisco.

Last year, Overstreet and his fellow investors sold Sagient Research Systems and immediately reported the sale to the California Franchise Tax Board, the state's version of the IRS. "It was good for the shareholders, it was good for the employees and good for those of us who founded it," Overstreet said about the sale of the data mining company. "We paid the tax based on the law at the time."

But the FTB changed its interpretation of the law after a state appeals court ruled unconstitutional a qualifying provision of the break requiring companies to maintain 80 percent of their workforce in California. Instead of asking the legislature for guidance on what to do, the FTB suspended the break in its entirety and ordered anyone who's claimed it in the last five years to pay up.

Read more: http://www.foxnews.com/politics/2013/03/19/california-businesses-fuming-over-retroactive-120m-tax-grab/#ixzz2O07MO9AW

25Walker: So you say government spending is the solution? That FDR did such a "great job"?

Hate to burst your bubble but the policies of FDR EXTENDED the Great Depression by 7 years according to a UCLA economics study in 2004 (http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx),

Take notice of the last paragraph that says "The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes," Cole said. "Ironically, our work shows that the recovery would have been very rapid had the government not intervened."

And Obama is doing the SAME thing and extending our recovery as well by what will be around 7 years too.

Get government OUT OF THE WAY and a recovery WILL occur. But as long as government is involved with the printing and borrowing of $1 Trillion per year the current recession will drag on indefinitely.

ProBusiness,

The GOP is submerged in failed policies, twisted romanticism.

FDR was one of our greatest presidents.

Roosevelt helped to lift America out of the wild craze of stock market speculation. The market's baseless "guessing" was a major contributing factor of the 1930's Great Depression. When all assets, whether it is cash, real estate, pensions, investments, etc are thrown onto the market's gambling tables, you fail to realize that the odds are always in favor of "the gamblers and are with the house" - the Republicans.

As with today's GOP, in the midst of an significant economic downturn...

Hoover:

- Refused to admit that the U.S. economy had totally collapsed

- He promoted the narrative of prioritizing the federal budget deficit

- He held the torch for small government

- He lowered taxes which most benefited the wealthy

- He instructed the Federal Reserve to "tighten" the money supply

- He directed the treasury not to give discounted loans to small banks

- He increased interest rates

- He believed that "the market" would mysteriously fix the country's financial and social woes.

- He relied on the inadequacy of "voluntarism" to solve the nation's critical problems of hunger and homelessness.

The above Republican policies dropped our suffering population deeper in the economic dry well.

What were the results of Hoover's GOP policies?

- Over 12 million people became unemployed

- Our unemployment rate rose to 25%

- The GNP fell by 50%

- 50% of America's children did not have adequate food, shelter or medical care. Many had rickets.

- From starvation, 12 million citizens died.

- Freight train car were the homes of million of citizens

- 750,000 farms went bankrupt, laying the foundation for our current big greedy corporate "farms"

- Crime skyrocketed

- Because there was a "run on the banks," the banking system collapsed

- As they were the last hired and the first fired, African Americans were hit the hardest.

- Across America...

- Hoovervilles sprung up

- Newspapers were known as Hoover blankets and

- empty pockets were called Hoover flags.

http://www.google.com/imgres?imgurl=http://0.tqn.com/d/history1900s/1/0/a/gd45.gif&imgrefurl=http://history1900s.about.com/library/photos/blygd45.htm&h=600&w=462&sz=84&tbnid=hS0XmT_f8_5flM:&tbnh=90&tbnw=69&zoom=1&usg=__9Ks1pGxO8pyrSOzxoKRWEFTXWrE=&docid=sOJSptb4CTg8hM&hl=en&sa=X&ei=lBZJUf_OD9DC4AO6z4GwCg&sqi=2&ved=0CDUQ9QEwAQ&dur=2051

You are free to continue to list FDR's errors...

ProBusiness,

Why are we back in another economic mess?

Because the right-wing again borrowed reckless economic platforms.

FDR>>

1..prohibit private monetary gold ownership

2..stripping American citizens of Japanese descent of their rights and liberty without due process

myownthoughts56,

Two "points" is all that you have.

During the Great Depression, to stimulate economic growth FDR dismissed the Gold Standard.

The answer to why he did this is so obvious: FDR wanted to have more money circulated in the economy - than the gold standard could financially support. By Hoover's lack of effective actions in alleviating the Great Depression, the financial collapse of America was worsened. FDR was a proactive president. He as not a statesmen who delved into "austerity" as the solution to an already severely contracted economy.

The internment of Japanese citizens was unfortunate.

Through a formal presidential apology and monetary compensation, the U.S. has apologized for its regrettable actions toward Americans of Japanese descent.

Here is a tad bit more on Hoover:

"Hoover excluded blacks from federal offices and executive departments, and his administration would not allow blacks to work on federal construction jobs."

FDR was wise in listening to his outstanding wife Eleanor Roosevelt, who significantly promoted the issue of civil rights.

myownthoughts56,

To effectively steer the economy toward growth, FDR wanted one system of monetary exchange...this makes sense.

The right wing, an effective tool for wrecking the economy!

#1.58

'Unfortunate', how kind and dismissive of you.

As this was done within living memory, how about we suspend the use of Executive Orders by any Democrat presidents until 99 years after that 'unfortunate' moment.

As the Democratic party can't bring itself to condemn their 'wonderful' FDR, THEY should reimburse the treasury and make annual payments. Just like the European 'summer camp company' does to their former 'guests'. Oh, but that's not the same thing, we're the good guys. All those history books we paid for, say so.

It was a vile thing to do, which might have been justified even a little bit, IF used as described. Those along the western coast/states were moved, not so those upon the critical Hawaiian Islands. I suppose it was an unfortunate oversight.

The accuracy of your moral compass is....unfortunate.

myownthoughts56

'Unfortunate', how kind and dismissive of you.

It is appropriate to apologize and to compensate victims of injustice. I will not eviscerate FDR. From starvation and death, he saved millions of our citizens.

how about we suspend the use of Executive Orders by any Democrat presidents

Here is a better idea:

Never send women and men into wars, looking for WMDs that do not exist.

Losing over 4,000 military service women and men looking for oil is woefully wrong.

As the Democratic party can't bring itself to condemn their 'wonderful' FDR

The right wing hails Reagan. Yet, he caused our debt to skyrocket.

THEY should reimburse the treasury and make annual payments.

The GOP should reimburse the people. From 2000-2008, the Republicans put 2 wars on a credit card and handed the U.S. Treasury over to the wealthy. The greedy that benefited should make the interest payments.

Just like the European

European country's that are stuck in "austerity" are economically failing.

Oh, but that's not the same thing, we're the good guys. All those history books we paid for, say so.

Your grammar is garbled.

It was a vile thing to do,...Those along the western coast/states were moved, not so those upon the critical Hawaiian Islands. I suppose it was an unfortunate oversight.

Suggest what more America should do to compensate the Japanese...

The accuracy of your moral compass is....unfortunate.

As with the Titanic, it is your moral direction that is "listing." Strongly, you advocate for those that have been treated unjustly.

Yet, it is strange that you never mentioned giving African Americans the 40 acres and a mule that they were promised.

You are GOP material, totally hypocritical...

Walker25,

You were doing so sub-par, like all you party-type people, then you went way off time line.

Very well, I'm sorry that you would want, NOT to be a Republican in the 1860s...THEY FREED THE SLAVES.

This says much about you, and it's not good. Everybody should be 1860s GOP material.

But I will give you a freebie, I also said nothing about the mass murders of all the natives all about the globe. Nor the pillage and plunder by Alexander, Caesar, Khan, and all the rest.....My bad.

I'm sorry, that you and people like you, can call themselves 'human'.

And foolish child atop all that.

Your 'logic', 'Johnny down the street, three years ago did the same thing'. So two wrongs make me right. Just sad.

Congrats on that shiny English teacher badge.

Where are you living in a cave?

Have you ever lost any money to a U.S. bank?

I wish you could do that. But not here in the USA. If you have over $5000 you better have proof where it came from. Then you better put it in the bank or have a good lawyer. Because they will take it. If you have a lot of money to deposit most banks charge for large deposits.

freeamerica

If you have a lot of money to deposit most banks charge for large deposits.

What do you call a large deposit? I've deposited up to $75,00 at one time and never had a fee imposed on me. I suggest you change banks, or stop your lies. Which ever the case may be.

@ Gumps, "Have you ever lost any money to a U.S. bank?" If you need to even ask that question, then please do not comment on ANYTHING financial, because you're obviously not a "Savvy" person in the stock market selection.

But to answer your question think YES, and think BANK Bailouts that are still happening, just quietly.

trust

"Have you ever lost any money to a U.S. bank?" If you need to even ask that question, then please do not comment on ANYTHING financial, because you're obviously not a "Savvy" person in the stock market selection.

If you don't know the difference in a bank account and an investment account. You should put your money in a coffee can.

trust, I was responding to MoreJustice, who implied, by his post, that money one deposits in a bank here in the U.S. is at risk. I know it's hard, but try to focus. As flnobody pointed out, there's a big difference between the stock market and a bank account.

The IRS requires banks to report, using Form 8300, any cash bank deposit of $10,000 or more in value. The IRS defines cash as currency or coins that are legal tender in the United States or another country. Banks do not report personal checks deposited into an account regardless of the amount, because such monies are traceable due to the funds being drawn on another customer's account. If a bank account owner deposits a cashier's check, bank draft, money order or traveler's check into their account of $10,000 or more, and the bank believes the money will be used for criminal activity, the bank must report this transaction using Form 8300.

Read more: How Much Can You Deposit Into Your Bank Account Before They Report It to the IRS? | eHow.com http://www.ehow.com/info_8049309_much-account-before-report-irs.html#ixzz2NtSWqblH

flnobody - Since the repeal of Glass-Stegal, there is NO difference between a deposit bank and an investment bank. You're welcome.

@Gumps......just talk to someone who went thru the 'great depression'..........were they able to get their money out of the US banks...........you bet your bottom dollar they weren't able!!!

Gumps is a flaming Owebama liberal who should not be posting on a financial discussion. LMFAO!

My money is all in gold. Made a few hindred thou already and it will triple very soon as the Owebama economy continues to crumble. Buy gold now folks!

sir kit

Since the repeal of Glass-Stegal, there is NO difference between a deposit bank and an investment bank. You're welcome.

In some cases you are correct. But there is still a difference in a deposit account and an investment account. Your welcome.

Gumps: Millions lost there entire savings in the 1930's to the banks, and with the protections of Glass-Steagall gone, thanks to government's repealing it, it almost happened again in '08. And with a government feeling so caviler that they can use drones against US citizens within our own borders to execute citizens without trial, don't think for a second that what's going on in Cyprus can't happen here. Our constitution has become more and more meaningless to them in the last 15 or so years, so yes, money in banks in this country with a government that has become so arrogant, has a huge potential to be at risk.

dkl

just talk to someone who went thru the 'great depression'..........were they able to get their money out of the US banks...........you bet your bottom dollar they weren't able!!!

Just ask those same people if they had FDIC back then? You can bet your bottom dollar they didn't.

bobster

My money is all in gold. Made a few hindred thou already

How much have you lost since Sept.?

to us the great depression is a far history that we think will never happen again.

@Gumps for you to say "have you ever lost any money from USA banks" have no merit.

i tell you this GUMP, have the united states of America ever enacted QE1/QE2/QE3(infinity) Operation twist 1 & 2.......?all the banking scandals here and abroad.......question is are you living in cave?

Bobster, tbrownjt, DKL, et al - yes, we are all aware of the great depression. So, here's a question for you: When was FDIC insurance initiated? And how many depositors in the U.S. have lost money from their accounts since? I sure hope you guys remain in the GOP - keep it stupid!

Gumps-haven't voted repub in 13 years. How far do you think FDIC will go with a government so out of financial control and so deep in debt? And lets keep the debate civil.

It's a tax and the Supreme Court has ruled that Congress can tax absolutely anything. So, Congress passes a 10% savings tax (you know to target the rich and people with savings accounts to help the needy), the President signs the bill, then boom the bank hands over 10% of your accounts to the government coffers. There's absolutely nothing in the Constitution, according to the Supreme Court, that says that they can't do this as early as tomorrow. So if you think that your bank accounts are safe from the far-reaching and powerful hands of our federal government, then you are a fool.

This won't happen tomorrow, but probably within the next 10 years or so it will, maybe 15 at the outside.

Anilof,

You might be correct. But I think our savior is the fall of socialism in Europe. First communism fell 25 years ago. Now it's girly-man, little brother, socialism, has proved to the world that it does not work. I just hope the independents and Hispanics here in the US get their heads on straight and see this clearly. We have to undo the damage of these last 2 liberals presidents, Bush Jr. and Owebama.

"Gumps- Have you ever lost any money to a U.S. bank?"

O.K. Gumps...here's the facts:

In the 2008 Federal Bank Bailout, the government (no really the taxpayers) handed the banks over 7.77 trillion dollars. Our representatives gave out $1.2 trillion in one day alone to just one bank. And no one calculated until later that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates yet the fed knew this when they gave them the money.

Back in 2008, Fed Chairman Ben Bernanke would not reveal any of the borrower details stating it would have led to more banks collapsing. And the Fed fought to keep the details of the loans hidden. Several organizations including Bloomberg pushed for the release through the freedom of information act obtaining 29,000 pages of Fed documents and central bank records of more than 21,000 transactions.

Immediately after the bailout, the Bankers (aka. dirtbags, A$holes, the real $hitheads who put our economy in the hole) lobbied against government regulations.

In the last four year, banks have added more charges and penalties to customers with checking and saving accounts than in the last fifteen years. Most ordinary citizens have no idea. And, no all banks didn't add all they could, but yes EVERY BANK HAS TAKEN ADVANTAGE OF THIS SITUATION. If you question any new charge they will tell you that most of the new charges and rules are a result of government regulation.

Remember this if you want to remember anything;

"And no one calculated until later that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates yet the fed knew this when they gave them the money"

Everything here is fact so please don't argue the bankers side.. you'll just look more like a looser.

One man who owns a used parts dealership. Had a lot of cars that he rebuilt and took to an action. He sold most of them and returned with over $40,000. He went to make the deposit and they told him what the fee for the deposit would be. He looked around and found out that he could use a locally owned bank and make the deposit free of charge. So he moved his account and then made the deposit. He was told they all charge the same fee for any large account transactions. Obviously not all of the banks but some of the large chain banks do charge for large deposits.

flnobody

Today $75 is not a real deposit, it's pocket change.

My wife's grandmother just turned 96 and I enjoy speaking with her about history (Great Depression, FDR, World War II, etc.) the kinds of things most do not have the opportunity to hear first hand accounts. Gives a whole different perspective from history books and what the government tells you.

But to this day she never trusted banks. Oh she kept a few dollars in the bank to write a check but most of her limited wealth she kept at the house in cash, jewelry, and precious metals. Don't get me wrong, she is not wealthy but what she DID have she never put in a bank.

She has told me what she is seeing the last five years is what she was seeing was the same things she saw prior to and during the Depression. Massive housing speculation. Borrowing to buy stocks. Homes being approved with little income support. Massive government spending. And so on.

But to this day she doesn't trust banks and neither do I. Most of my wealth is diversified between stocks, property, and precious metals I keep at my house. Because when the government finally figures out they can't continue to borrow money they can't repay they will continue to print money devaluing the dollar AND find a way to confiscate more wealth from "we the people".

The next couple years are going to get nasty. Real nasty. Make sure you protect what you have because our government WILL try to find a way to take some. They don't have a choice..........

freeamerica

Today $75 is not a real deposit, it's pocket change.

You are correct. That $75.00 should have been $75,000.00, my error.

Pro

I did spend a lot of time with my grandmother. She didn't like banks either. She stashed money and other things around the house. Most of the time in small amounts. She also had one room with nothing but food. Homemade shelves with canned food stacked in and dated. If we found something that was to old she looked it over before we could throw it away. She used to tell us you can't eat money. If the stores don't have food then people ant going to sale you theirs. They lived on a farm my dad remembered the depression. He remembered people coming to work for food to feed their families. Then it was more trade than money. He said grandpa was well respected by the local people for that. Then people wanted to work for what you gave them. So they could hold their head up.

the_Chief, since you referenced the 2008 bank bailout, tell us how many bank customers lost any of their deposits? Take your time...

FreeAmerica: Amen....

I like the comment you made that you "can't eat money". I believe too many take food for granted. If we had an economic collapse (highly unlikely - but more likely than just a few years ago) and there was a run on food many would find it difficult to find food. And some would resort to violence to find food to feed their families (and although illegal certainly understand the dilemma). And money will be worthless so how do you BUY food and materials needed?

I have been stocking up for about 6 years now.

I have been accumulating silver and copper to use in bartering if absolutely necessary (if NOT necessary it has turned into a good investment and increased in value well over the last several years).

I have enough survival food to last probably about 45 to 60 days if I ABSOLUTELY needed to stretch it that far (it is a combination of freeze dried food and a large amount of rice is airtight containers).

I have about 50 gallons of water in "storage" to make sure I have that if necessary.

And I have plenty of ammo to protect my family from those wishing me harm and/or wanting to steal the above. I wish I had more ammo (very hard to find right now) but I am "OK" with what I have as a minimum amount needed.

But your story is spot on. Food is the critical part. And protection of family and food is a requirement as well. I do think it is very unlikely we will have a collapse but I would rather have it and not need it then need it and not have it........

$75 or $75,000 , IT's hard for you to keep straight idn't it. Well it would be banker's malpractice not to put a hold on a $75,000 deposit in a personal account if that sum is out of character for the depositer.

Flnobody,

LMFAO! So you are worried about how much I lost since Sept?!?!? LOL! I have made about $380k the last 2 years. Yes, there are ups and downs. Buy low and sell high of course. But one of the "ups" is about to begin as your boy Owebama has successfully ruined the economy. You better get into gold now Skipper.

Successfully ruined the economy? I guess you haven't followed the financial news lately have you? The DOW and S&P have hit record highs - over 300K new millionaires resulted from the recent run-up in stock equity.

LMFAO! I thought you libbies were more concerned about the poor? LOL! And the stock market has only gone up due to Owebama's Boy Toy Bernacke printing hundreds of billions. LOL! The poor will pay dearly due to these 2 boobs, Owebama and Bernacke

Liberals. God love em! LOL!

Yeah, I was wondering about that myself, if part of the rise in the stock market was due to the devaluing of the dollar with all the monetary easing that has been done over the past few years.

Let's not forget that the Federal Reserve by keeping the interest at near 0% has destroyed the bond market. With bonds not being a viable investment strategy currently, people have to put there money somewhere and there are few options outside the stock market.

I personally think the market is over-valued by 5,000 points. There is no way anyone can state that the overall state of the economy and the business market is any better than it was over a decade ago. It should be somewhere around 9000-9500. The problem is that the markets tend fo "overcorrect".

bobster

LMFAO! So you are worried about how much I lost since Sept?!?!?

Your comment was "My money is all in gold. Made a few hindred thou already".

I asked you, how much did you loose since Sept. By the way, you still haven't answered. I didn't say anything about over the last two years did I? Answer the question. Because if you have all your money in gold, as you said. 1st your and idiot and shouldn't be giving financial advise to anyone. 2nd since gold has dropped in price around $200 +/- per oz, you have lost money. So spin on.

The poor will pay dearly due to these 2 boobs, Owebama and Bernacke

Liberals. God love em! LOL!

But the repugs put him, bernanke, in the position.

Nobody.

I buy and sell gold Skippy. I don't buy it once and sit on it. Maybe you silly libbies do that. LOL! I buy low and sell high.

Bernacke. LMFAO!! Romney said he would get rid of this moron and your idiot-in-chief said he would keep his boy toy. LOL!!

Liberals. God love m! LOL!

bobster

By the way, you still haven't answered.

Gold is only making money for ya, if you sell it. In order to sell it, you need sufficient people with cash. Gold is viewed as a doomsday asset. On Doomsday nobody will be able to buy it - that's what doomsday means. So you have to sell it way before doomsday when people think it will go much higher AND they will be able to sell it. Else, you will not see those gains. If you bought years ago and already sold, you win ! good play ! After doomsday, you will hand over an ounce of gold for a gallon of gas, or for a train tkt to somewhere safe. IF your holding certificates after doomsday you have nothing - that's what doomsday means. You have to have the bullion - not certs. As soon as "they" notice you hold bullion, you are marked for murder. You have to have family and friends all armed to the teeth or you will be killed for your bullion. It's much better if we fix what is wrong and never have doomsday.

It was called the Great Depression!!!

Only older ignorant people do that.

Gumps

Only older ignorant people do that.

Wow... a little sanctimonious and superior feeling aren't we. Have you ever considered that someone actually listens to that old adage? Once burned twice shy?

Please, tell us all EXACTLY how you would feel and how YOU would be acting if you lost EVERYTHING you had at that time.

I can tell you how much my parents trusted banks if you have about 1 nanosecond to listen. If you want to know what they thought of banks and bankers, you don't have enough time.

Oh, they were FAR from ignorant, unlike you.

And what do you think caused the Great Depression? Loss of liquidity. The same thing that is happening in Europe and the same thing that is collapsing the Euro banks.

Sir Kit

Really Sir Kit. You know we have no such problem here. We have the Monopoly.... oop's I mean Federal Reserve Bank to ensure the printing presses are VERY well oiled and inked up!!!

Isn't the Fed currently, but very quietly, pumping, is it 80+ billion a month, into the economy? Of course, that's keeping Wall Street very happy. But at some time, all of those bills need to be paid.

And who will be paying them?

I find it curious that while many of you are expressing paranoia that Obama might do the same thing here, you are probably ignorant of the fact that most of that money in Cyprus banks came from rich Russians hiding their assets - this has been going on for quite awhile. There are increasingly fewer places to hide cash overseas - I suspect that's why the govt. chose to go after savings accounts. And that explains why Putin is s indignant. It's the filthy rich in Russia who will take the biggest financial hit. That should give some comfort to you right wingers.

How should I feel about the average Cypriot who has their life savings in those banks, Gumps? Should I also be "comforted" by the thought that they will be fleeced by their government seizing private money in an effort to bail out their banks or punish the rich Russians?

Idiot...

What the hell does Romney have to do with this? If you have proof he has money stuffed away overseas, then show it, otherwise shut your pie-hole!!!

He admitted to having money stashed overseas. Were you even awake and paying attention during the elections? He just claimed that another shell company was in charge of it, and he didn't have any knowledge. Do you have so much extra money, that you can afford to leave it in foreign banks?

He admitted it and also admitted he paid taxes on the income, if due. So WTH does it have to do with him being a leader?

Obama has money stashed in the same place Romney does.....They all do,And the market has always shown a jump just before it falls...get ready have a stash of cash on hand at least 2-4k for when our banks do the same, and buy gold and silver!!

if you have an IRA or a 401k, you have money overseas. That whole argument is pointless.

It never ceases to amaze me how stupid government(s) can be. Cyprus needs a 9 billion euro bailout from the EU to keep its economy from collapsing. So the geniuses in government announce in advance of doing so that they plan on confiscating 15% of all the country's bank's demand deposits.

This will cause a run on the banks, and a flight of capital to elsewhere, the only logical and expected end result will be that the 9 billion euro infusion will now not be anywhere near sufficient, meaning the idiots in Cyprus just shoved their hands deeper into the pockets of the people of Germany and France.

These idiots just alienated the cheapest form of capital they had in Cyprus, which was demand deposits from foreign depositors. This, is just plain stupid, but par thinking for government socialists who think your money is their money.

I wonder if our government brainiacs are watching? We would never treat our people this way would we? Oh no. Not here where we print money and debase the currency resulting in a decrease in buying power of the dollar so it takes more dollars to buy things. Yep, it acts just like a tax, only now, instead of Congress raising your taxes, where you at least have some tiny little bit of say so at the polls, now your taxes are effectively being raised by an unelected monetary czar at the Federal Reserve and you have no say.

All over the world, economic decisions are being made by idiots and being allowed to take effect by large herds of sheep that are asleep commonly referred to as "We the people".

Socialist Cyprus just killed their economy, their banks will be starved for capitol, their economy will grind to a near hault, and like in all other collapsing economies, their high skill set workers will leave for greener pastures. Socialism is a disease of the mind that prevents rational thought.

No, thanks to Republicans very few Americans have significant savings anymore. "Trickle Down" economics is a fraud. It just enriches the already rich. Americans can't save anymore- and Repubs wonder why more and more Americans need government assistance.

What do the republicans have to do with this? First of all, it was the democrats that said everyone was entitled to own a house. They set the banks free to make all those loans that people couldn't afford and drove the economy and wall street. When the housing bubble burst and brought down and upon us the recession that Obama hasn't a clue what to do about.

Rallyforge, the operative word is think. You should try it some time. Have you ever heard of the FDIC? Don't you know that bank accounts of up to $250K are insured? It's people like you that reinforce the perception that the GOP is the Stupid party.

Gumps

Uhmmm..

Have you considered that FDIC is in the event the bank FAILS....

If the GOVERNMENT takes 10% as was done in Cyprus and as Rallyforge questioned what would the American people do if the GOVERNMENT decided something similar here.

So yes, the operative WORDS are THINK and COMPREHEND. THINK about your response after you have had the time and purported ability to COMPREHEND what was noted.

Oh... and yes I know the FDIC is bank funded insurance. And I know the banks pay the "premiums". But there is nothing to stop the "government" from requiring depositors to supplement that now is there?

@Gumps again..........FDIC insured by what and whom??? Try thinking just a little 'outside' the box. The 'concepts' behind insurance companies are not 'bricks and mortar'.

Uh, start shooting govt bureaucrats.... just like 1775

FDIC,

is basically us the tax payers providing protection. Yes the banks pay a fee. but at the end of the day it is us.

XDm9mm:

But there is nothing to stop the "government" from requiring depositors to supplement that now is there?

No, just your wild paranoid imagination... Cripes, the right winglunatics are out in force today.... Oohh! Ooohh! The President is gonna do the same! Ohhh! C'mon people, get a grip.

Taxpayer—
That's not a bad thing. We want to keep the USD exchange value down for trade. If Europeans can purchase goods from us cheaper than in their own country, it helps our economy.

The loss was our AAA credit rating.

I know that it's a bit off topic, but it kills me when people like you don't bother to do ay research first before posting their ignorance for all to read. CasualUSTaxpayer, here's some remedial reading for you:

http://www.investopedia.com/articles/forex/11/popular-currencies-and-why-theyre-traded.asp

http://wiki.answers.com/Q/What_is_the_most_stable_currency_in_the_world

http://www.therichest.org/business/most-traded-currencies/

Patter123,

Yes it is a bad thing, we are the consumers that drive the worlds economy. China is working on their own demand, but the rest of the world for the most part is a net exporter of products.

When is the last time that the Euro was worth less than the USD?

Subnormal, that can't and shouldn't go on forever. It used to be the case that the US was better known for production than for spending. Truth is, that we're still massively productive, we just use fewer people to do that jobs and more of the money gets siphoned off to the rich.

It's largely because the world economy is so dependent upon our spending and the reduced buying power of most Americans that something was bound to go wrong eventually.

I hope you don't change political party affiliations. Help keep the GOP stupid!

Gumps=keep drinking the kool aid.

Gumps is doing more than knocking back the Kool Aid, Robert. He's probably snorting a few lines of it too.

The Federal Reserve Bank is not a governmental organization...it is a private share-holder owned bank. And they pump in $85 billion a month to the US "economy".

Sir Kit,

And how exactly does that make it any better?

At least the bailouts.

a well armed government is always good for an unarmed population.(sarc)

Thats exactly why Feinstein and Oblamo want our guns. You dead on brother.

@ Sir Kit,

On a story about GOVERNMENT stealing depositer's money from the bank you wrote:

The banksters are just salivating to confiscate and get their hands on ALL your money.

What does that even mean?

America Marches toward Cyprus Status

http://market-ticker.org/akcs-www?post=218859

ddpg,The Greek people paid taxes in order to receive those government pensions(aka Social Security) and medical care..But their government couldn't cough up the money due to borrowing that money. Doesn't this sound familiar?

Only the 2nd Amendment protects that 4th Amendment.... and all the others.... let 'em take your guns and your money and property will follow....

Hey, obama says you didn't make that!

It's people like you that create market opportunities for the rest of us. You're emotional response is symptomatic of the drop today in U.S. bank stocks - no reason why, other than the emotional and unreasonable response to what's going on in Cyprus. But hey, that provides a buying opportunity!

You have but one option to consider to save yourself devastating financial pain. Being Monday morning, make haste to your bank and withdraw every dime! If you have accounts elsewhere, follow up without delay! If you have any retirement accounts by any name, close them out immediately! Accept no payroll checks - cash only! Pay all your bills and make all purchases with cash - small bills ... they don't draw attention. Reduce or eliminate all paper trails.

I think you are getting the picture. President Obama in particular and socialists in general will never be able to take your money away. You know they already have their eyes on it. You can feel it! They are intimately aware of how much you have and where it is located. Hurry, now. There is just so much time to act before it's too late. Good luck!

You guys don't get it - they don't have to use banks to confiscate your (cash) money. Even if you have it sitting in a coffee can or stuffed into your mattress, they're confiscating it now by devaluing it daily. This is why inflation is so seductive (for them): it also devalues the massive debt they've racked up - and they don't need to go into your bank accounts to achieve the same goal.

DAC is getting all worked up again......once and for all. THE ELECTION IS OVER, GET OVER IT......you're in better hands than you deserve to be with this President.

willbfree, you need some medicine son......

downrange15

Instead of exhibiting a typical emotional reaction to information that challenges your perception of reality, perhaps you can explain the way things are to us instead. I challenge you to undermine any of the points he made.