More Americans opting out of banking system

[Truthmatters]

gold can screw you too folks.

you have to pay attention

 

[The Rabbi]

You won't be able to get it when the bank closes its doors. Besides it won't be worth much anyway. It can't be eaten, made into clothes or a house, or used to kill a person or animals. No one is going to give you $1700 worth of groceries for one ounce of shiny metal when the shit hits the fan.

Can you point to a time when gold lost all value?

Never.

I said it wouldn't be worth "much".

Do you understand English?

Though I can guarantee you'd be better off taking an oz. of gold and buying $1700 worth of ammunition with it and saving that than you would be saving the gold and waiting until after doomsday.

Backtracking again.
$1700 of ammo is pretty heavy. 1700 worth of gold is pretty light. I know which one I'd rather flee the country with.

 

[OohPooPahDoo]

If you are having money moved through a bank then you are using the banking system.
You should read the article sometime. The actual news is that people are too poor or have too bad credit to use traditional banking, so are using expensive check cashing, payday loan, pawnshop,etc services. It is part of the Obama Economy that people are pushed out of traditional banking.

If only President Obama had done something about the economy in 2006.

He had the opportunity to do something about Fannie/Freddie as a senator and fumbled it.
He did do something about the economy in 2009. He made it much worse. This is part of the result.

Sorry but the economy isn't "much worse" today than it was in 2009. In terms of GDP is unquivocally better. Real GDP growth was at -8.9% in the last quarter of 2008 - it was +1.7% in the 2nd quarter of this year. To say "he made it much worse" is really just a lie.

 

[g5000]

gold can screw you too folks.

you have to pay attention

Yep. The gold bug's hero Peter Schiff lost his ass on gold in 2008, and he caused his investors to lose up to 70%.

.

 

[OohPooPahDoo]

Can you point to a time when gold lost all value?

Never.

I said it wouldn't be worth "much".

Do you understand English?

Though I can guarantee you'd be better off taking an oz. of gold and buying $1700 worth of ammunition with it and saving that than you would be saving the gold and waiting until after doomsday.

Backtracking again.
$1700 of ammo is pretty heavy. 1700 worth of gold is pretty light. I know which one I'd rather flee the country with.

If you're going to do extensive travelling after an apocalype I'd recommend you carry not only sufficient ammo but the firearms the ammo goes in, as well. Well armed road bandits who don't give a shit about your life will gladly gun you down and take your little piece of shiny metal - at which point that metal will be completely worthless to you.

 

[Truthmatters]

gold can screw you too folks.

you have to pay attention

Yep. The gold bug's hero Peter Schiff lost his ass on gold in 2008, and he caused his investors to lose up to 70%.

.

these place us back on the gold standard idiots are always looking for an automatic setting for the economy.

There is NO fucking automatic setting.

 

[OohPooPahDoo]

If you are having money moved through a bank then you are using the banking system.
You should read the article sometime. The actual news is that people are too poor or have too bad credit to use traditional banking, so are using expensive check cashing, payday loan, pawnshop,etc services. It is part of the Obama Economy that people are pushed out of traditional banking.

If only President Obama had done something about the economy in 2006.

He had the opportunity to do something about Fannie/Freddie as a senator and fumbled it.
He did do something about the economy in 2009. He made it much worse. This is part of the result.

BTW - we were already in the housing bubble when Obama took his seat as a U.S. Senator. That you would discredit him for not single handedly going back in time and stopping all of the myriad of events that led to the bubble is indicative of something.

 

[Truthmatters]

this whole gold standard thing is the set up for the NEXT ripp off of the people by the wealthy.

 

[The Rabbi]

If only President Obama had done something about the economy in 2006.

He had the opportunity to do something about Fannie/Freddie as a senator and fumbled it.
He did do something about the economy in 2009. He made it much worse. This is part of the result.

Sorry but the economy isn't "much worse" today than it was in 2009. In terms of GDP is unquivocally better. Real GDP growth was at -8.9% in the last quarter of 2008 - it was +1.7% in the 2nd quarter of this year. To say "he made it much worse" is really just a lie.

Actually it is. Every measure of household income, wealth, unemployment, length of time on UE, workforce participation, housing prices, etc etc is worse now than the day he took office. He took what should have been a short sharp recession and turned it into Great Depression II. Never let a crisis go to waste.

 

[Truthmatters]

links to prove your claim?

 

[OohPooPahDoo]

He had the opportunity to do something about Fannie/Freddie as a senator and fumbled it.
He did do something about the economy in 2009. He made it much worse. This is part of the result.

Sorry but the economy isn't "much worse" today than it was in 2009. In terms of GDP is unquivocally better. Real GDP growth was at -8.9% in the last quarter of 2008 - it was +1.7% in the 2nd quarter of this year. To say "he made it much worse" is really just a lie.

Actually it is. Every measure of household income, wealth, unemployment, length of time on UE, workforce participation, housing prices, etc etc is worse now than the day he took office.

Great. Show us the numbers then. I used numbers. Why won't you? Lazy?

He took what should have been a short sharp recession and turned it into Great Depression II. Never let a crisis go to waste.

Why "should have been a short sharp recession" ? Because you say so?

 

[Full-Auto]

More Americans opting out of banking system - The Washington Post

Yep. I have my check direct deposited and the day it is I go and take all the cash out of the bank...I don't have a debit card or checks. If I ain't got cash that means I ain't got it.

But you have a bank account.............Nuff said............

 

[OohPooPahDoo]

links to prove your claim?

He doesn't need them. LIke all rightes, if he feels it to be true in his heart - its true.

 

[The Rabbi]

If only President Obama had done something about the economy in 2006.

He had the opportunity to do something about Fannie/Freddie as a senator and fumbled it.
He did do something about the economy in 2009. He made it much worse. This is part of the result.

BTW - we were already in the housing bubble when Obama took his seat as a U.S. Senator. That you would discredit him for not single handedly going back in time and stopping all of the myriad of events that led to the bubble is indicative of something.

Yeah, reality. He had the opportunity to rein in Fannie/Freddie and he blew it, toeing the party line instead. Would he have been able to make a difference? I don't know. But at least he'd be on record as being on the right side rather the Left side.

 

[ScreamingEagle]

She estimated that it costs banks up to $300 a year to maintain a checking account because of expenses such as processing transactions.

wow.....they must either have too few accounts or very high overhead....or both....

 

[The Rabbi]

Sorry but the economy isn't "much worse" today than it was in 2009. In terms of GDP is unquivocally better. Real GDP growth was at -8.9% in the last quarter of 2008 - it was +1.7% in the 2nd quarter of this year. To say "he made it much worse" is really just a lie.

Actually it is. Every measure of household income, wealth, unemployment, length of time on UE, workforce participation, housing prices, etc etc is worse now than the day he took office.

Great. Show us the numbers then. I used numbers. Why won't you? Lazy?

If I show you the numbers will you admit I am right and then shut the fuck up? Or will you a) weasel out of it or b) flee the scene?

 

[OohPooPahDoo]

He had the opportunity to do something about Fannie/Freddie as a senator and fumbled it.
He did do something about the economy in 2009. He made it much worse. This is part of the result.

BTW - we were already in the housing bubble when Obama took his seat as a U.S. Senator. That you would discredit him for not single handedly going back in time and stopping all of the myriad of events that led to the bubble is indicative of something.

Yeah, reality. He had the opportunity to rein in Fannie/Freddie and he blew it, toeing the party line instead. Would he have been able to make a difference? I don't know. But at least he'd be on record as being on the right side rather the Left side.

Obama was the deciding vote? On what bill? The "This Bill Magically Fixes Everything" bill ? Fannie/Freddie singlehandedly forced investment bankers to buy crap? That's an interesting theory. Please keep going.

 

[The Rabbi]

BTW - we were already in the housing bubble when Obama took his seat as a U.S. Senator. That you would discredit him for not single handedly going back in time and stopping all of the myriad of events that led to the bubble is indicative of something.

Yeah, reality. He had the opportunity to rein in Fannie/Freddie and he blew it, toeing the party line instead. Would he have been able to make a difference? I don't know. But at least he'd be on record as being on the right side rather the Left side.

Obama was the deciding vote? Fannie/Freddie singlehandedly forced investment bankers to buy crap? That's an interesting theory. Please keep going.

Ooh, look who forgot how to read.

 

[tjvh]

I have my cash split between several banks so it is all insured.

Not if the U.S. defaults on its debt it isn't.

If the US defaults then the cash will not be worth much. Then I fall back to my physical gold in a lockbox.

Is your lockbox the same one Al Gore used to talk so much about... It must be pretty big.

 

[Truthmatters]

German court rules in favor of bailout fund — with conditions - The Washington Post

what do you know about this frank?