Not a good harbinger of things to come.. this morning I stumbed on to the chart linked here, while watching this video:
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vagklPtCku9U.asf
.. and then read this in a private finance forum: “”I have a typical savings and checking account at Citibank and just received an email regarding a change in their electronic transfers. They are lowering the daily limit on outgoing standard transfers (3 day timeframe) to $2,000 but keeping incoming transfers at $100K. This scares me…seems like they are making it difficult to get your money out of their bank. What do you think, and is this type of restriction common? Needless to say, I’ll be getting my $ out of there ASAP.”" Their new agreement is here: https://web.da-us.citibank.com/tandcFiles/printable_cashedge.htm “”
Draw your own conclusions..
Its unfortunate that this is going to happen in the US and that average citizens will be forced to deal with their terms; however, it does stem from the US as to why this happens all over the globe. You can’t invent money. That is what banks in the US do with your money. They lend it out a 9:1 ratio of loans to deposits. They are creating a bubble that cannot sustain itself and when the bubble is about to explode they enforce restrictions on how you and other people can or cannot move your money with ease.
When the Euro becomes the standard (and it will) you will see a much more stable economy in markets not only in the US but globally.
Empires were never meant to last…the US is no exception.
Daft question perhaps, but if nobody can have more than $2K going out, how does anyone have a $100K coming in.
I guess buy Christmas, you guys will be running around with brief cases full of Euros!
Hi,
This is where everything is headed:
Amerodollar
http://en.wikipedia.org/wiki/Amero
NAU:
http://www.eagleforum.org/topics/NAU/
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=55830
NAFTA Super Highway:
http://www.humanevents.com/article.php?id=15497
http://www.portstoplains.com/index.html (its REAL)
Best,
Dan
Anyone w/more $$$ in any accounts with any “troubled” US banking institutions in excess of the Fed insurance limit (generally 100k/”separate” account) is taking a real chance w/their money.
During the S&L “crisis” of the late 80′s, many, many lost big $$$ when “their” institution/s went under.
Get it out while you still can.
Dave it’s “By” not “Buy”
I’m shocked you didn’t mention IDNs…
Dan,
You seem to forget that Euro is based on the free movement of goods and PEOPLE. For an Amero to work, there are going to have to be a lot of changese which most US Citizens are just not ready to accept. They are going to have to accept Mexicans as their equals in everything from employment to property rights. Just ain’t going to happen!
Hi Dave,
I understand that any normal red/white/blue American would and should not go for this…and that its a long way from a ‘done deal’.
The point of my post, was just to show that there is many things going on in this world to try and turn it into global Socialist world…using what appear to be Capitalist ideas.
Which if any part are implemented over the next 5-30 years…can and will affect not only the financial markets…but many other aspects of life as we know it today.
Some of the information posted does seem to shed some light on why I think the US government refuses to secure our boarders in any meaningful way.
Do you remember a couple months back…that they tried OK Mexican trucks do be driving freely around our whole country? That was a great idea…almost went through.
Best,
Dan
BTW: not to many good domain names with the word(s)Amero,Amerodollar,Ameros left…lol
Danno,
I think we are agreed that you cannot have a Free Trade Zone with a common currency over an area that effectively has an Iron Curtain across it. Where you go from there depends on how much you value bi-lateral trade.
The US presents itself as an unstoppable juggernaut, and the growth projections coming out the Fed tend to suggest that very healthy growth going forward, suggesting that the US is largely self-sufficient. Unfortunately, that is not the picture many of us are getting, and frankly I am very sceptical about US statistics. The problem is that GDP is measured in different ways, and some components are worth more than others. Infrastructure and other Capital investment is right up there with Exports, but gets counted equally with people that just selling hot dogs and burgers to each other.
I have to say that I was a bit shocked yesterday to read that average house price transactions fell around 8% last quarter to $217K. The real shock was the absolute value of housing in the US. You would struggle to get a one bedroom apartment in most deprived areas of the UK for that! Some of this stuff just does not tie up with the picture of a World beating economy.
Getting back to Bank withdrawals, I think it is highly likely that much of the stock market robustness is going to be down to the uncertainty on the stability of the banking system. Stock in a large corporates in recession proof industries are going to be a much safer home for your cash than in an interesting yielding account in an insolvent bank.
I would like to see this sales chart on a regional basis or even state by state. Sometimes one or two bad apples spoils the basket when looking at national data.