bluebird
Forum Replies Created
-
Posts
-
So Friday morning the markets are down. The Fed did not hike rates and the Fed is losing credibility. This is good for Wall Street banks?
GeorgeP said “Syriza voted for a law which permits taxmen entering homes without a warrant and seizing all items, cash, clothes, food etc as they see fit.”
Wow, speechless.
@james – From reading here at TAE and elsewhere, it isn’t finding the safest place. Rather it is being with our loved ones sharing community and skills such that we all can make the best of the situation, whereever we are.
There is a hardware store in the picture above. Whereas when that picture was taken, probably most of the products were made in the USA. Today, assuming hardware stores (even Walmarts) sell mostly foreign-made products, I don’t see how the stores will be able to stay in business when this bubble implodes. I can foresee looting of remaining items when people no longer have any money to buy anything.
@tyberious – One of the best TAE primers is the ‘How to Build a Lifeboat” Here is the link https://www.theautomaticearth.com/2012/01/how-to-build-a-lifeboat/
@GeorgeP – Thanks for your comments about Greece.
@xingu65 – Excellent posts, hope to read more of what you are living now, which will befall the rest of us.
@seychelles – Thanks for the info about adding additional banks/credit unions to Treasury Direct. Definitely good idea to keep only a limited amount of money at the financial institutions. The CofI at TD is very liquid and can easily transfer funds. However, the CofI is just a placeholder for everyone’s money together. Nothing there is titled to anyone specifically. Whereas short term Treasury Bills are titled to an owner who can revolve their T-bills in-and-out of the CofI, or to transfer back to their financial institution.
seychelles said “It is true that if your savings are in Treasury Direct you will lose access to it if all of the banks fail (the US Treasury is not a bank) but the best way to protect yourself against this is to link your TD account with four or five of the strongest banks in your area.”
In the long term we are all going to lose our money, no matter if it is in stocks/bonds, banks, credit unions, or Treasury Direct…via market crashes, bailouts or bail-ins. In the short term, when setting up a TD account, only 1 financial institution can be online-linked to the account. But with properly signed paper forms by additional FI’s, they too can be attached to the TD account. Seems rather time consuming!
Anyway, it is best to always have some cash stored creatively in one’s house. Or live within a few miles of several financial institutions to access the ATMs.
Snuffy, always appreciate reading your posts. I too see some people discard old tools as if newer are better. And books are trashed because just about anything can be found to read on the Internets. Well, until the power grid crumbles 🙁
BTW, how are your bees?I am not so sure banks will demand bail-outs. However, there very likely will be bail-ins instead. Remember Cyprus…..the banks will just take a percentage of the money in our bank accounts. And install capital controls where a limited amount of money can be withdrawn on any day.
It seems an easy way to avoid bank bail-ins is to purchase Treasury Bills, and redeem, as needed, via online to one’s financial institution, then withdraw cash using ATM. However, couldn’t the government install holds on the redemption of the T-bills to one’s bank account? As far as I know, there is no way to call the Treasury to send a physical check to redeem T-bills.
Another excellent compilation of articles, thanks!
Around here, there is a huge build-up of new shopping centers. Every retail store is building, as well as the usual big box stores, and restaurants too. Seriously, who will be able to shop and eat there. The existing stores are never crowded as it is.
Then there are also several new beautiful hospitals and expansions of the older hospitals. I do not see how they can be maintained in these pristine conditions, nor people when they can’t afford basic healthcare.
On second thought, in a larger group of people, most do remain silent. Rarely anyone speaks about what is morally or lawfully right. Those who do say anything, criticize the speaker.
Greenpa said “broad lack of what I would have to call moral spine”.
Unfortunately, it is rampant. I see it everywhere. Then I am criticized for speaking.
Aaargh.These are very tough proposals, but could it be that one thing not being discussed could be that Greek debt is to be forgiven?
@Greenpa #22213 +++, The U.S. would be much better for our people if there was not the Military Industrial Complex.
@John Day – A couple years ago, Cyprus was used for test run of bail-ins and capital controls. Greece could be the next test in the financial collapse.
Interesting picture. I have never heard of Atlanta, Ohio, but after searching, I discovered that Atlanta, Ohio, is appx 50 miles from where I live.
Formerly T-Bear said “A form is beginning to take shape in the shadows of hitherto cryptic plans to radically reform the structure of the EMU; Greece will provide the crisis needed.”
TheGreekOne said “This is something that can only be interpreted as an invitation for Greece to join the Eurasian Union.”
I’m confused. Are you both saying the same thing that the impending crisis will shove Greece out of the EMU and into the EAU?
Thank you Tsigantes for your comments about Greece. We in America only hear or read what the media wants us to believe, not what is really going on.
Thank you TheGreekOne for your comments about Greece. Otherwise, we only hear the propaganda spin by the media.
TheGreekOne said “Now, more and more know that the EZ and the EU are not going to survive for long.”
Actually, longer than we think. Look how many years the stock market bulls have been running to new highs. I doubt we boomer generation will see the end to the EZ and the EU.
“there are lots of people who devote their entire lives towards devising ways to make up your mind for you.”
I know people who think that it is only important if it is on TV.
Assuming Janet Yellen knows what is coming with a rate hike, why did she agree to be the Fed Chair, unless perhaps she would become very very very wealthy?
@Raleigh – It is disgusting. The more I read, the more aware I become of all that is disgusting. How could we humans allow this to happen to ourselves, to the animals, to the environment, to the planet. We can’t stop ‘them’, we must stop ourselves first.
There are several major stores in the news. There is Russia & Ukraine, there are ISIS militants killing hostages, there is Obama asking for power to go to war, there is Greece possibly defaulting its debts, and the markets rocketing to new highs. Am I the only one to wonder if one of these newsy stories will be the trigger to implode the global financial ponzi bubble.
Thanks Dr. Diablo. What you are saying is that if one has any kind of loan or credit card debt, TPTB will come after you, sooner or later.
But there are so many people who have loads of debt. When this system crashes, how can there be enough debt collectors to go after all those people? And who would companies hire to collect bad debtors if so many people can’t pay their loans?
@bkanic – I echo Variable81 that The Automatic Earth provides the biggest “big picture” view. I’ve been reading here almost since its inception. There is a link to the primers at the top. They are excellent.
@birdshak – I think the better question is, who gets the monetary benefit by having the Keystone pipeline pushed thru this Congress.The Conover Building. Still standing at the center of Dayton, Ohio
https://www.waymarking.com/waymarks/WMFKF8_Conover_Building_Dayton_OhioIt’s always great to see pictures posted that shout-out to me.
@Gerold – interesting blogpost, thanks for sharing.
repost from previous topic…
@ Diogenes Shrugged
This is a great link to see which posts have an updated comment section. There is no need to check each thread because this link shows the date and the poster.@ Diogenes Shrugged
This is a great link to see which posts have an updated comment section. There is no need to check each thread because this link shows the date and the poster.I hear people say that our lifestyle is unsustainable, but technology will save us.
What happens when the electric grid goes down. The following power grid attack occurred last year on 4/16/13, but wasn’t widely reported until February this year…
2/11/14 Sophisticated but low-tech power grid attack baffles authorities
They came after midnight, two or more armed individuals so deft that they cut telecommunication cables in an underground vault and outsmarted security cameras and motion sensors at the power substation in a remote corner of Santa Clara County.
At daylight, FBI agents began poring over time-lapse photographs from the surveillance cameras. But the photos revealed only staccato muzzle flashes from a semiautomatic weapon and sparks as shots hit rows of transformers. There was not a face, not a shadow, of who was doing the firing.
The shooters disappeared into the gloom minutes before the first police car arrived.
The military-style raid on April 16 knocked out 17 giant transformers at the Metcalf Transmission Substation, which feeds power to Silicon Valley. The FBI is still working the case, and agents say they are confident it was not the work of terrorists.
What they do not have is a motive, fingerprints or suspects.
But theories are piling up. Was it a modern-day Monkey Wrench Gang bent on eco-terrorism? Was it a test of the vulnerability of the U.S. electrical grid? Was it a dress rehearsal for a larger attack to come?
more…
https://www.latimes.com/nation/la-na-grid-attack-20140211-story.html#page=1
