"As We Seek A Safe Place For Capital"
Part 2
02/08/2014
Post From KTFA By Memphis » February 8th, 2014, 2:20
am • [Post 95]
So how do we account for this?
This afternoon I spent a few hours forming a post in my mind and then making it a reality. This was done not for lack of things to do but out of great concern for people to recognize the times in which we live. If you have not read post #8 on page one then I will encourage it's reading prior to THIS post.
The VALUE is in being informed and that step cannot be skipped. If you fail to appreciate the big issues faced by our nation, it's monetary system, it's crisis of debt and it's illiquid banking system then simply reading here in search for some quick answers is like cheating! I am here to help people as God gives me the ability.
The times in which we live will not be forgiving of willful ignorance.
...
Read More Link On Right
So how do we account for this?
This afternoon I spent a few hours forming a post in my mind and then making it a reality. This was done not for lack of things to do but out of great concern for people to recognize the times in which we live. If you have not read post #8 on page one then I will encourage it's reading prior to THIS post.
The VALUE is in being informed and that step cannot be skipped. If you fail to appreciate the big issues faced by our nation, it's monetary system, it's crisis of debt and it's illiquid banking system then simply reading here in search for some quick answers is like cheating! I am here to help people as God gives me the ability.
The times in which we live will not be forgiving of willful ignorance.
...
Read More Link On Right
If it seems I am being overly dramatic here then let me dial
it up a notch and say that in the medium to long term discussion I am 100%
convinced that America's monetary system will crumble in a heap of ruin leaving
most people wondering what happened while many are left crying out to a
bankrupt gov't to make it all better.
My point here is simply to impress that yes, some of these things DO matter to me and my family. There is a lot of "noise" in the world making it confusing for many to recognize VALUE.
I can promise you that anything that I post on is a result of extensive study. One of my strengths is that I recognize value. Along those lines is an ability to see value in people....and their words. When I see it, I pause and take notes. When I do not, I walk on by....
In response to my post earlier:
Post By jaxjags » February 7th, 2014, 7:46 pm • [Post 27] Memphis, Thank you for your post...........however, thinking forward how do we protect our future deposits????
Do you spread them out through several banks/credit unions???Do we go overseas?
Post By agold » February 7th, 2014, 7:33 pm • [Post 20] Thank you Memphis. I know the "problem" with bank accounts have come up before, but given the last sentence and your conclusion please comment on what should a wise person do given their assests in a bank account are not owned by them but "investments" in the bank - all this without the usual investment agreement and clauses?
I think time is right for us to discuss and learn as much as we can of the wisdom of holding assets in a bank accounts under these sircumstances. Thank you. Perhaps this is a topic for a series on "sound off"?
And from a PM (edited for privacy): ...are credit unions going to be any safer than major banks? I am aware that a credit union doesn't usually handle large accounts. Other than sound investments in finances, real estate, would you offer any other ideas that might help...?
Memphis: OK, 1st off as agold asked: "Perhaps this is a topic for a series on "sound off"?"
I consider that if a thing is of importance then it is best served up as publicly as possible. This is why I no longer answer PM's. If we can discuss it openly for all to profit then count me in! I am quite capable of speaking in generalities here and not give direct specific advice.
As to using credit unions, smaller local banks, etc? IMO the cracks will 1st develop in the big banks as it is they who have been engaged in the proprietary lending and making reckless bets like drunken sailors.
The timing of these cracks is of course the key and the quick but important answer is to not be caught behind the curve. In the extreme discussion, trying to time things closely and for me withdraw all my money from bank "A" the day prior to it closing it's doors is beyond insanity.
Going a step further down this rabbit hole we have to ask this question:
"What is the problem? What event am I trying to avoid or mitigate?
The answer here leads us to an entirely separate discussion concerning the monetary system. The FED has debased our currencies value thru recklessly increasing it's supply.
This is not simply a marker for coming inflation it is in fact the very definition of inflation. If I give you a nice tall glass of sweet tea, the kind that's so sweet you can use it on pancakes?
What value would you find in this sweet tea if I placed it under a faucet that is left to trickle water (ever so slowly) until eventually your tall glass of fine southern sweet tea tastes like a weak sugar water?
This is the debasement of our nations money that continues today and it will have consequences just as it has all thru history. This is not a new thing folks. Developed nations have been following this play book for many centuries.
The nation of Lydia had the 1st known currency that was based in metals. At around 550BC they were movers and shakers with gold coins used for large national trade and silver coins minted for daily use at a ratio of 12.5 (gold to silver). That system somehow fell into ruin tho?
How is that possible to have a gold backed system of money and yet it get debased (deflated, deluted) to nothing? Glad you asked....
They found a need for more money to fund their massive war effort to fight off their neighbors who decided to not play nice. As a result their GOVERNMENT began issuing the next iteration of money but it somehow seemed different than before.
They simply made the same coins with the same face value as before but with less gold/silver in them. This practice continued until eventually the metal was no longer even close to pure in content.
Their monetary system crashed BECAUSE gov't controlled it.
Why do these cycles repeat? Because man's nature is the same.
Our governments grow in power until they think that it is they who are the sovereign and not the people and the politicians become so desperate to preserve their power that they cannot see the futility of their actions until it all simply crumbles.
"History never repeats itself, but it does rhyme." ~ Mark Twain
If this reply seems lengthy, I haven't even scratched the surface yet but let's conclude with this.....
If the monetary system is our concern then in the long term discussion we must isolate ourselves from the USD. Name any financial instrument that you own and then ask yourself if it is ultimately denominated in the USD.
If yes, then you are exposed to an event that will be costly. Post RV, I will minimize this exposure using all means at my disposal and facilitated by the best minds that I can source in their respective fields.
This reply obviously moves us past the question of what US bank do we use?
I am not a proponent of fear so understand that some of these events are going to play out over time (perhaps a few years) and others may manifest sooner. Bottom line? When given the opportunity to act, take it.
***And before running to the bank on day #1 after the RV waving your dinar with your hair of fire consider that the one asset class that we likely all have in common that is sheltered from the USD is that same one that you cannot wait to surrender! :popcorn:
Post From KTFA By Memphis » February 8th, 2014, 5:40 am • [Post 109]
donardek wrote on February 8th, 2014, 3:26 am: MEMPHIS.......You have changed my entire outlook on this event, I am looking at it with a whole new clarity. From the sincerest place in my heart, THANK YOU!!!!
Memphis: I feel compelled to say that posts such as this....move me.
God has placed so many things in my heart that I would love to share and yet I am driven daily to be a good steward of the short time that remains before we all get promoted. And with any promotion comes greater responsibility!
Randy's excellent opening post gave me a great opening to share a personal story of God's promise to my home concerning this promotion and certain other events in my life that I would love to share would leave people amazed at God's wonderful and amazing grace and yet....
Here I am, driven by God's Spirit in another direction to be a simple student and to share with others only the best parts, the cream that I see continually rising.
It is a blessing to know that others see value in being prepared. :gracias:
Briefly let me respond to this post:
Post By ehankins » February 8th, 2014, 2:09 am • [Post 102] MEMPHIS,, I'VE HEARD YOUR VOICE FOR A LONG TIME ON THIS FORUM WITH A REALIZATION THAT YOU ARE A SINCERE MAN..NO SMOKE HERE. READING THIS POST HAS ASSURED ME OF THE SUSPICIONS AHEAD.
Memphis [note: thanks]
Ehankins: WHEN LISTENING TO YOU ON A CC 1-2 WEEKS AGO SET ME FIRM THAT "THE NORM " IS OVER. I ASK A SIMPLE OBVIOUS QUESTION OR TWO OF YOU. YOU SAID, "HOW TO KEEP IT" OUR MONEY.
THAT'S THE OBVIOUS DELEMA COMING....WHEN THE RV OCCURES WE CASH IN WILL IT BE THAT STRAIGHT FORWARD RIGHT AWAY THAT THE BANKS KEEP IT? AN IMMEDIATE STRUGGLE OR WILL THIS BEGIN IN A COUPLE OF YRS.
Memphis [note: this is a point open to debate. I look at everything from the extremes to help establish a position and one such extreme here is that very soon we will have tens of thousands of new millionaires placing these monies on deposit within our banking system and that our currency will be devalued soon thereafter
OR that the banks will simply seize large portions of these funds. IMO, the likelihood of this extreme playing out in the near term is quite low... but not impossible.
With FATCA now firmly in place our gov't can sleep well at night knowing where every penny is so that it can be taxed. Further, it is likely that we will see banking failures happening across Europe prior to the US.
Some analysts even predict the fall of Germany's largest bank Deustche (sp) before years end so I see some probability that such events might serve as warning signs or harbingers.
The other extreme here would be that nothing happens to the US banks or our monetary system for years.
I see many cycles converging in about 18mo that will portend hard times ahead for the US.
I do not plan on waiting that long because one simple variable in all of this that WILL cause events to accelerate and come seemingly out of nowhere is the "confidence game". Once people's confidence erodes? Imagine the bank run scene from It's a Wonderful Life....on steroids.
Beyond this, I hesitate to speculate further until more information comes my way.]
Ehankins: IT'S CLEAR NOT TO INVEST IN ANY BANK. SO, I BELIEVE BUYING GOLD, SILVER, REAL ESTATE ANY TANGEBLE ASSET WOULD BE THE ANSWER? YES A QUESTION BECAUSE I'M IN THE DARK.
Memphis [note: get in line sir, that's exactly what China is doing. Think they are trying to stay ahead of the game?
Your thoughts here are very sound ones. Has anyone researched the concept of State Banks such as exists in North Dakota? Not a recommendation, just food for thought as they operate independent of the FED.]
Ehankins: I'VE WORKED FOR 45 YRS. AND NOW I HAVE THE DINAR IN HOPES OF LEAVING A LEGACY FOR MY CHILDREN AND THEIRS. SO, I'LL KEEP READING YOUR POSTS AS THEY ARRIVE. I FEEL YOUR HEART IN THIS MATTER. YOU ARE A BLESSING. THANKS
Memphis [note: may your legacy extend to the end of this age! As to MY posts? There are many smart people who pop in here and can add great value to the discussion. I will gladly give an opinion if one exists and if not? I have no problem saying so,]
One last comment for the day. I try to avoid discussions of the GCR but in light of my posts today and the discussion of our sovereign debt crisis let me pose a question:
The premise of a GCR as presented to me is that many/most of the world's currencies will be re-priced such that a proper balance will be made manifest and things will be made right in the world so my question becomes....
What about all the debt?
Show me how re-pricing a currency actually fixes anything and if the answer contains a reference to a gold standard or other asset backed support for the currency how does THAT fix the debt issue?
My last post gave historical evidence that ANY currency controlled by the gov't (or even worse, a central bank) is always subject to debasement.
I have no axe to grind, just questions that need answers to help me understand...
Blessings, Memphis
http://www.dinarrecaps.com/1/post/2014/02/as-we-seek-a-safe-place-for-capital-part-2.html
My point here is simply to impress that yes, some of these things DO matter to me and my family. There is a lot of "noise" in the world making it confusing for many to recognize VALUE.
I can promise you that anything that I post on is a result of extensive study. One of my strengths is that I recognize value. Along those lines is an ability to see value in people....and their words. When I see it, I pause and take notes. When I do not, I walk on by....
In response to my post earlier:
Post By jaxjags » February 7th, 2014, 7:46 pm • [Post 27] Memphis, Thank you for your post...........however, thinking forward how do we protect our future deposits????
Do you spread them out through several banks/credit unions???Do we go overseas?
Post By agold » February 7th, 2014, 7:33 pm • [Post 20] Thank you Memphis. I know the "problem" with bank accounts have come up before, but given the last sentence and your conclusion please comment on what should a wise person do given their assests in a bank account are not owned by them but "investments" in the bank - all this without the usual investment agreement and clauses?
I think time is right for us to discuss and learn as much as we can of the wisdom of holding assets in a bank accounts under these sircumstances. Thank you. Perhaps this is a topic for a series on "sound off"?
And from a PM (edited for privacy): ...are credit unions going to be any safer than major banks? I am aware that a credit union doesn't usually handle large accounts. Other than sound investments in finances, real estate, would you offer any other ideas that might help...?
Memphis: OK, 1st off as agold asked: "Perhaps this is a topic for a series on "sound off"?"
I consider that if a thing is of importance then it is best served up as publicly as possible. This is why I no longer answer PM's. If we can discuss it openly for all to profit then count me in! I am quite capable of speaking in generalities here and not give direct specific advice.
As to using credit unions, smaller local banks, etc? IMO the cracks will 1st develop in the big banks as it is they who have been engaged in the proprietary lending and making reckless bets like drunken sailors.
The timing of these cracks is of course the key and the quick but important answer is to not be caught behind the curve. In the extreme discussion, trying to time things closely and for me withdraw all my money from bank "A" the day prior to it closing it's doors is beyond insanity.
Going a step further down this rabbit hole we have to ask this question:
"What is the problem? What event am I trying to avoid or mitigate?
The answer here leads us to an entirely separate discussion concerning the monetary system. The FED has debased our currencies value thru recklessly increasing it's supply.
This is not simply a marker for coming inflation it is in fact the very definition of inflation. If I give you a nice tall glass of sweet tea, the kind that's so sweet you can use it on pancakes?
What value would you find in this sweet tea if I placed it under a faucet that is left to trickle water (ever so slowly) until eventually your tall glass of fine southern sweet tea tastes like a weak sugar water?
This is the debasement of our nations money that continues today and it will have consequences just as it has all thru history. This is not a new thing folks. Developed nations have been following this play book for many centuries.
The nation of Lydia had the 1st known currency that was based in metals. At around 550BC they were movers and shakers with gold coins used for large national trade and silver coins minted for daily use at a ratio of 12.5 (gold to silver). That system somehow fell into ruin tho?
How is that possible to have a gold backed system of money and yet it get debased (deflated, deluted) to nothing? Glad you asked....
They found a need for more money to fund their massive war effort to fight off their neighbors who decided to not play nice. As a result their GOVERNMENT began issuing the next iteration of money but it somehow seemed different than before.
They simply made the same coins with the same face value as before but with less gold/silver in them. This practice continued until eventually the metal was no longer even close to pure in content.
Their monetary system crashed BECAUSE gov't controlled it.
Why do these cycles repeat? Because man's nature is the same.
Our governments grow in power until they think that it is they who are the sovereign and not the people and the politicians become so desperate to preserve their power that they cannot see the futility of their actions until it all simply crumbles.
"History never repeats itself, but it does rhyme." ~ Mark Twain
If this reply seems lengthy, I haven't even scratched the surface yet but let's conclude with this.....
If the monetary system is our concern then in the long term discussion we must isolate ourselves from the USD. Name any financial instrument that you own and then ask yourself if it is ultimately denominated in the USD.
If yes, then you are exposed to an event that will be costly. Post RV, I will minimize this exposure using all means at my disposal and facilitated by the best minds that I can source in their respective fields.
This reply obviously moves us past the question of what US bank do we use?
I am not a proponent of fear so understand that some of these events are going to play out over time (perhaps a few years) and others may manifest sooner. Bottom line? When given the opportunity to act, take it.
***And before running to the bank on day #1 after the RV waving your dinar with your hair of fire consider that the one asset class that we likely all have in common that is sheltered from the USD is that same one that you cannot wait to surrender! :popcorn:
Post From KTFA By Memphis » February 8th, 2014, 5:40 am • [Post 109]
donardek wrote on February 8th, 2014, 3:26 am: MEMPHIS.......You have changed my entire outlook on this event, I am looking at it with a whole new clarity. From the sincerest place in my heart, THANK YOU!!!!
Memphis: I feel compelled to say that posts such as this....move me.
God has placed so many things in my heart that I would love to share and yet I am driven daily to be a good steward of the short time that remains before we all get promoted. And with any promotion comes greater responsibility!
Randy's excellent opening post gave me a great opening to share a personal story of God's promise to my home concerning this promotion and certain other events in my life that I would love to share would leave people amazed at God's wonderful and amazing grace and yet....
Here I am, driven by God's Spirit in another direction to be a simple student and to share with others only the best parts, the cream that I see continually rising.
It is a blessing to know that others see value in being prepared. :gracias:
Briefly let me respond to this post:
Post By ehankins » February 8th, 2014, 2:09 am • [Post 102] MEMPHIS,, I'VE HEARD YOUR VOICE FOR A LONG TIME ON THIS FORUM WITH A REALIZATION THAT YOU ARE A SINCERE MAN..NO SMOKE HERE. READING THIS POST HAS ASSURED ME OF THE SUSPICIONS AHEAD.
Memphis [note: thanks]
Ehankins: WHEN LISTENING TO YOU ON A CC 1-2 WEEKS AGO SET ME FIRM THAT "THE NORM " IS OVER. I ASK A SIMPLE OBVIOUS QUESTION OR TWO OF YOU. YOU SAID, "HOW TO KEEP IT" OUR MONEY.
THAT'S THE OBVIOUS DELEMA COMING....WHEN THE RV OCCURES WE CASH IN WILL IT BE THAT STRAIGHT FORWARD RIGHT AWAY THAT THE BANKS KEEP IT? AN IMMEDIATE STRUGGLE OR WILL THIS BEGIN IN A COUPLE OF YRS.
Memphis [note: this is a point open to debate. I look at everything from the extremes to help establish a position and one such extreme here is that very soon we will have tens of thousands of new millionaires placing these monies on deposit within our banking system and that our currency will be devalued soon thereafter
OR that the banks will simply seize large portions of these funds. IMO, the likelihood of this extreme playing out in the near term is quite low... but not impossible.
With FATCA now firmly in place our gov't can sleep well at night knowing where every penny is so that it can be taxed. Further, it is likely that we will see banking failures happening across Europe prior to the US.
Some analysts even predict the fall of Germany's largest bank Deustche (sp) before years end so I see some probability that such events might serve as warning signs or harbingers.
The other extreme here would be that nothing happens to the US banks or our monetary system for years.
I see many cycles converging in about 18mo that will portend hard times ahead for the US.
I do not plan on waiting that long because one simple variable in all of this that WILL cause events to accelerate and come seemingly out of nowhere is the "confidence game". Once people's confidence erodes? Imagine the bank run scene from It's a Wonderful Life....on steroids.
Beyond this, I hesitate to speculate further until more information comes my way.]
Ehankins: IT'S CLEAR NOT TO INVEST IN ANY BANK. SO, I BELIEVE BUYING GOLD, SILVER, REAL ESTATE ANY TANGEBLE ASSET WOULD BE THE ANSWER? YES A QUESTION BECAUSE I'M IN THE DARK.
Memphis [note: get in line sir, that's exactly what China is doing. Think they are trying to stay ahead of the game?
Your thoughts here are very sound ones. Has anyone researched the concept of State Banks such as exists in North Dakota? Not a recommendation, just food for thought as they operate independent of the FED.]
Ehankins: I'VE WORKED FOR 45 YRS. AND NOW I HAVE THE DINAR IN HOPES OF LEAVING A LEGACY FOR MY CHILDREN AND THEIRS. SO, I'LL KEEP READING YOUR POSTS AS THEY ARRIVE. I FEEL YOUR HEART IN THIS MATTER. YOU ARE A BLESSING. THANKS
Memphis [note: may your legacy extend to the end of this age! As to MY posts? There are many smart people who pop in here and can add great value to the discussion. I will gladly give an opinion if one exists and if not? I have no problem saying so,]
One last comment for the day. I try to avoid discussions of the GCR but in light of my posts today and the discussion of our sovereign debt crisis let me pose a question:
The premise of a GCR as presented to me is that many/most of the world's currencies will be re-priced such that a proper balance will be made manifest and things will be made right in the world so my question becomes....
What about all the debt?
Show me how re-pricing a currency actually fixes anything and if the answer contains a reference to a gold standard or other asset backed support for the currency how does THAT fix the debt issue?
My last post gave historical evidence that ANY currency controlled by the gov't (or even worse, a central bank) is always subject to debasement.
I have no axe to grind, just questions that need answers to help me understand...
Blessings, Memphis
http://www.dinarrecaps.com/1/post/2014/02/as-we-seek-a-safe-place-for-capital-part-2.html
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