We weren't even taking money out, just making an internal transfer of our own money from one account to another. This means the institution is on life support. They didn't want to make a balance sheet transfer. Imagine what they would say if we tried to make a cash withdrawal. However, we have decided to make certain that we DO make cash withdrawals ... by writing our check at the grocery store for an extra $300 cash each week. There's more than one way to skin a cat - especially an almost-dead one.
It shouldn't surprise me. I know what's going on in the world. Still, it is shocking. Somehow you never think it will happen.
So, what is happening? The 3rd quarter of 2010 has brought with it a sharp increase in the financial crisis caused by the U.S. leadership, which is engineering the economy and global finances into the abyss and serious breakdown, forecast for the first half of 2011. The U.S. will be forced into great austerity, due to the combination of real unemployment of 20% combined with still-falling equity in property. A year ago the global financiers were willing to 'carry' the US. That is no longer the case, especially after the threats and heavy hand of the Fed at the meeting of central bankers in Jackson Hole.
The Federal Reserve knows that it is doomed. Americans have abandoned the stock market, which now consists primarily of major investment institutions and high fliers. The former Oppenheimer analyst, Meredith Whitney, says that 10% of the entire Wall Street work force will lose their jobs. U.S. central bankers thought they could give the people the illusion of wealth one more time, thereby pushing them into spending again, which would re-start the financial engine again.
It didn't work. Millions of Americans are becoming educated, and millions are facing something worse than mere austerity ... poverty. And many are in, or near, retirement. Combine this with the non-stop anger of the people with their government for a myriad of other reasons, and it spells disaster.
Look, the world financial system is nearing collapse. The big players include the Federal Reserve, the Vatican, the BIS, the Bank of England, the European Central Bank, Bank of Japan, and others. Gold prices have been suppressed for decades. The London Bouillon market has sold 100 times the amount of gold they actually have. Massive fraud has been perpetrated on purchasers of gold shares, who bought paper instead of the actual gold itself. It is believed by many that gold records were stored in Building 7 of the World Trade Center (the third building - the one you never hear about - that fell after the first two buildings). If you know anything at all about the the IMF, BIS, gold market, and gold paper, these are a must-see:
On The Edge - Max Keiser Interviews Jim Willie, video (3 parts, short)
Part 1: http://www.youtube.com/watch?v=IDuZmmz3dqg (10:00)
Part 2: http://www.youtube.com/watch?v=5OLyLifIkts (5:00)
Part 3: http://www.youtube.com/watch?v=MaWi5heq5mw (7:03)
While Wall Street is still unwilling to admit that the only real money is gold, the rug is being pulled out from under them. They are in denial at the thought of the end of the gravy train ... and the end of the game.
Do whatever you can to be prepared for emergencies. There may be times of shortages. Keep some cash at home, although not too much because when a new currency is inevitably introduced, the old money is devalued. If you possibly can, have a little gold. If that's not possible, buy silver, which is very inexpensive - around $20/oz today. Gold and silver are not only real money (not paper), but the top financial experts expect spectacular rises in their value. The current prices, while high, will be seen as a bargain a year from now.
I do not give financial investment advice. I am simply sharing information which I receive from numerous financial newsletters and people who are financial consultants. Each of us must, in the final analysis, seek out all the information we can obtain, and then make our own decisions.
Call Steve Forehand at 813-963-2434, or visit www.eldoradogold.net. Steve is down to earth, and very easy to talk to. If you've never purchased gold or silver, he's your guy. He'll make it easy for you. You can also email him at: SForehand1@gmail.com. Tell him I sent you (No, I get nothing out of it except the pleasure of doing you and him a favor.)
The 'powers that be' believe they are putting their plans in place to bring about a one-world currency and government over which they can rule. You and I, however, understand that there is a Hidden Hand (a name they like to use to refer to themselves) who guides the affairs of men. The world leaders are simply falling into place, as Bible prophecy predicts.