Posts Tagged ‘Paul’
Alex Jones Tv 1/5: Alex Takes Calls on Bank Holiday
February 24th, 2010 | 
Author: 
Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse
Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010
A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.
Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.
We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.
According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.
However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.
When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.
Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html
Duration : 0:10:19
Alex Jones Tv: Feds Order 7 Day Restriction On Bank Withdrawlals!
Update: Citigroup Says Feds Ordered 7 Day Restriction On Bank Withdrawals
Announcement stokes fears of old fashioned bank runs if economy takes a turn for the worse
Paul Joseph Watson
Prison Planet.com
Monday, February 22, 2010
A new advisory being sent by Americas third largest bank to its account holders has stoked fears that major financial institutions could be preparing for old fashioned bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the Business Insider website, Citigroup is sending the following information to customers along with their bank statements.
Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
An almost identical advisory to the one being sent out can be read on page 22 of Citbanks Client Manual effective January 1, 2010, which can be read here from Citibanks own website.
We reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking, savings and money market accounts. We currently do not exercise this right and have not exercised it in the past, states the manual.
According to the Future of Capitalism blog, Citigroup originally claimed that the warning was only sent nationwide as a result of a mistake, but that the measures do apply to account holders in Texas.
However, in a statement, Citigroup confirmed that they had reserved the right to impose the new 7 day rule on all account holders nationwide, but claimed they had no plans to enforce it. The bank stated that they had been forced to enact the new policy as a result of federal regulations.
When Citibank moved to unlimited FDIC coverage in 2009, we had to reclassify many checking accounts to allow for immediate withdrawals in order to ensure all customers qualified for the additional coverage. When we moved back to standard FDIC coverage with most major banks in 2010, Citibank decided to reclassify those accounts back to make them eligible again for promotional incentives. To do so, Federal Reserve Reg D requires these accounts, called NOW accounts, to reserve the right to require a 7-day notice of withdrawal. We recently communicated this technical requirement to our customers. However, we have never exercised this right and have no plans to do so in the future, reads a statement released by the bank.
Over the last 18 months, numerous rumors of bank runs, bank holidays, and limitations on access to cash at ATMs have been floating around. Citigroups new policy to restrict withdrawals wont do anything to calm such fears.
As we reported back in 2008, the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to insure about $1 trillion in assets across the nations financial institutions.
This revelation prompted fears that an accelerating amount of bank closures could absorb FDIC funds and leave holders of money market and traditional savings accounts exposed.
http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html
Duration : 0:10:58
Bob Chapman on Alex Jones Tv 2/2:Markets Are Not Stable!
Alex welcomes to the show talkshow host Rollye James, Oklahoma senator Randy Brogdon who will give an update on that state’s Tenth Amendment effort, and regular guest Bob Chapman of the International Forecaster.
http://prisonplanet.tv/alex-jones-live.html
Duration : 0:6:58
Posted in foreign markets | 
Tags: aig, BankofAmeria, barack, bob, chapman, Coins, dowjones, Forecaster, GM, gold, H., International, iran, Iraq, Israel, jp, morgan, obama, Paul, Ron, silver, wallstreet | 
3 Comments »
Bob Chapman on Alex Jones Tv 1/2:Markets Are Not Stable!
Alex welcomes to the show talkshow host Rollye James, Oklahoma senator Randy Brogdon who will give an update on that state’s Tenth Amendment effort, and regular guest Bob Chapman of the International Forecaster.
http://prisonplanet.tv/alex-jones-live.html
Duration : 0:10:34
Posted in foreign markets |
Tags: aig, BankofAmeria, barack, bob, chapman, Coins, dowjones, Forecaster, GM, gold, H., International, iran, Iraq, Israel, jp, morgan, obama, Paul, Ron, silver, wallstreet |
23 Comments »
Life After Gold & Silver becomes TRUE Money!
Add me as a friend on Facebook!
http://www.facebook.com/harryc
http://twitter.com/GrowBy10
Are Gold and Silver a GREAT investment? If so, for what time frame…in the short, medium or long term.
Is gold investing all about timing? And will a time like the early 80s when Gold and Silver crash come again?
Many believe that We all know that we are at the stage where ALL governments around the world are printing fiat money to such an extent that Gold and Silver have nowhere to go but up.
However, my question to you all is…what will this world be IF and WHEN there is a collapse in fiat money? How will we go about our daily lives? Will gold and silver be the new medium of exchange? Will it be safe to trade in gold and silver if only 1-3% have enough to trade?
Your comments will be greatly appreciated!
Duration : 0:9:24
Posted in money markets |
Tags: 2012, abundance, bullion, coin, collapse, depression, devaluation, dollar, economy, election, empowerment, estate, federal, finance, Financial, gold, Inflation, investing, Love, Maloney, market, Metals, Michael, Mike, monetary, money, Paul, Peace, peter, policy, precious, real, recession, reserve, Ron, schiff, silver, stock, Store, truth |
25 Comments »
11/21/2008 Part 2/3 Peter Schiff: Markets Reacting To Nomination Of Tim Geithner?
Visit http://www.PhilDeCarolis.com to sign up for my free weekly newsletter that includes Economic and Real Estate updates or for more Peter Schiff videos and real estate advice from an experienced Investor/Realtor. Let me help you protect and grow your wealth NOW before it is too late. Contact me right away for a referral to my own personal broker with Euro Pacific Capital that can advise you on the purchase of precious metals (Gold, Silver, etc..), Commodities And/Or Foreign Dividend paying stocks to hedge against rising prices and your loss of hard earned wealth. Join me in preserving your savings so that we can utilize our retained purchasing power to purchase Discounted/Cash Flowing California Real Estate Assets at the bottom of this downturn for pennies on the dollar that will rise in value dramatically during Californias’ next cyclical inflationary real estate bull market.
Duration : 0:8:22
Crash Course: Chapter 5 – Growth vs. Prosperity & Chapter 6 – What is Money? by Chris Martenson
Chapter 5 (Growth Vs. Prosperity): Contrary to what we’ve grown used to, growth is not the same thing as prosperity. In fact, growth and prosperity are both dependent on the same thing: surplus. Dr. Martenson explains how we’ve been conditioned to want, and to take, both growth and prosperity; however, we are approaching the limits of our physical, finite, earth – the amount of surplus is steadily declining.
Chapter 6 (What is Money?): What is a dollar? Sure, it allows us to buy things like food, cars, and iPods; yet, most of us don’t really understand money beyond that. Dr. Martenson not only provides an understandable definition, but also explains what gives our green pieces of paper value, and what dangers any currency must face.
http://www.chrismartenson.com
Duration : 0:10:0
11/20/2008 Part 2/2 Peter Schiff On Campbell Brown: Market Plummets
Visit http://www.PhilDeCarolis.com to sign up for my free weekly newsletter that includes Economic and Real Estate updates or for more Peter Schiff videos and real estate advice from an experienced Investor/Realtor. Let me help you protect and grow your wealth NOW before it is too late. Contact me right away for a referral to my own personal broker with Euro Pacific Capital that can advise you on the purchase of precious metals (Gold, Silver, etc..), Commodities And/Or Foreign Dividend paying stocks to hedge against rising prices and your loss of hard earned wealth. Join me in preserving your savings so that we can utilize our retained purchasing power to purchase Discounted/Cash Flowing California Real Estate Assets at the bottom of this downturn for pennies on the dollar that will rise in value dramatically during Californias’ next cyclical inflationary real estate bull market.
Duration : 0:9:21
11/21/2008 Part 3/3 Peter Schiff: Markets Reacting To Nomination Of Tim Geithner?
Visit http://www.PhilDeCarolis.com to sign up for my free weekly newsletter that includes Economic and Real Estate updates or for more Peter Schiff videos and real estate advice from an experienced Investor/Realtor. Let me help you protect and grow your wealth NOW before it is too late. Contact me right away for a referral to my own personal broker with Euro Pacific Capital that can advise you on the purchase of precious metals (Gold, Silver, etc..), Commodities And/Or Foreign Dividend paying stocks to hedge against rising prices and your loss of hard earned wealth. Join me in preserving your savings so that we can utilize our retained purchasing power to purchase Discounted/Cash Flowing California Real Estate Assets at the bottom of this downturn for pennies on the dollar that will rise in value dramatically during Californias’ next cyclical inflationary real estate bull market.
Duration : 0:6:9
11/21/2008 Part 1/3 Peter Schiff: Markets Reacting To Nomination Of Tim Geithner?
Visit http://www.PhilDeCarolis.com to sign up for my free weekly newsletter that includes Economic and Real Estate updates or for more Peter Schiff videos and real estate advice from an experienced Investor/Realtor. Let me help you protect and grow your wealth NOW before it is too late. Contact me right away for a referral to my own personal broker with Euro Pacific Capital that can advise you on the purchase of precious metals (Gold, Silver, etc..), Commodities And/Or Foreign Dividend paying stocks to hedge against rising prices and your loss of hard earned wealth. Join me in preserving your savings so that we can utilize our retained purchasing power to purchase Discounted/Cash Flowing California Real Estate Assets at the bottom of this downturn for pennies on the dollar that will rise in value dramatically during Californias’ next cyclical inflationary real estate bull market.
Duration : 0:8:20