Bernanke Alert!

[ronpaulforprez2008]

After Bernanke's speech at the Economic Club of New York he took a Q&A where Martin Feldstein asked him what he had learned from his studies of the Great Depression that he could apply now. Bernanke said that the two good things that FDR did were firstly to "relieve" the country from the constraints of the gold standard and secondly to declare a bank holiday in which banks couldn't reopen until they were sound.

Well folks... there you heard it from the horse's mouth! The two "good things" were confiscating the citizens gold under threat of a $10,000 fine and imprisonment, and also closing your bank! These are the "GOOD THINGS" that FDR did!!! I guess he didn't have the guts to say devaluing the dollar by 75% after buying the people's gold was a "good thing" also!!!

Folks, you must keep your gold outside the U.S.. Keep it in Switzerland or at least in Canada. GoldMoney.Com is good or The Central Fund of Canada (CEF) or Perth Mint Certificates in Australia....OR ??


Here is the Q&A video:
http://www.cnbc.com/id/15840232?video=891160288&play=1

[UtahApocalypse]

HoLY CRAP!!! I'm taking money out of the bank RIGHT NOW!!!!

[ronpaulforprez2008]

Here's a really good audio broadcast from Jim Pupluva of the Financial Sense Newshour (last Saturday)....he really explains the economic history and the parallel to the future. Might need to listen to it a few times, but the first half of the broadcast is exceptional.

Download at:
http://www.netcastdaily.com/broadcast/fsn2008-1018-3a.mp3

Jim's site is at:
http://www.financialsense.com/fsn/main.html

[fr33domfightr]

I think he was talking about the loosening of the 100% Gold backed Dollar. If you keep Gold, it should be safe in a Safety Deposit Box.


FF

[ronpaulforprez2008]

I think he was talking about the loosening of the 100% Gold backed Dollar. If you keep Gold, it should be safe in a Safety Deposit Box.


Ummm, the reason they closed the blanks in the 30's was so they could open-up your deposit box and confiscate your gold. The BS about closing them to ensure your savings was a cover story.

[acptulsa]

Ummm, the reason they closed the blanks in the 30's was so they could open-up your deposit box and confiscate your gold. The BS about closing them to ensure your savings was a cover story.

Actually, I think the holiday and the confiscation were a couple of years apart. But, yes, the confiscation happened.

[fr33domfightr]

Can anyone offer historical evidence (ie. Newspaper story, etc.) that Safety Deposit Boxes were opened?


FF

[Arklatex]

It's going down. It's never been more apparent to me than it is now that we have had incredible foresight. Did Bernake really make that statement about a bank holiday?

[ronpaulforprez2008]

My extremist views on 'free markets' were wrong. (http://www.washingtonpost.com/wp-dyn/content/article/2008/10/23/AR2008102300193.html?hpid=topnews)

Former Federal Reserve chairman Alan Greenspan called today for imposing some of the same sorts of regulations on mortgage securities he resisted when he was in office, acknowledging that the current financial crisis had exposed "a flaw" in his view of how the world and markets function.


Greenspan ... said that he remained "in a state of shocked disbelief" that banks and investment firms did not do a better job of analyzing the risks involved with investing in home mortgages extended to less creditworthy borrowers.


Greenspan acknowledged that the failure of that expected self-regulation represented "a flaw in the model" he used to analyze economics. "I was going for 40 years or more on the perception that it was working well."

Video of Greenspan Testimony (http://www.youtube.com/watch?v=55-A1-D3MR0)

[acptulsa]

Did anyone else's NPR station go off the air yesterday just as the story on Greenspan began?

[polomertz]

Warning: I don't know if this is true or not but.... wouldn't surprise me.

http://www.financialsense.com/editorials/skousen/2006/0201.html


HOMELAND SECURITY WILL CONTROL SAFE DEPOSIT BOXES IN A CRISIS

A source at Bellaciao.com filed the following report, which I have confirmed from other sources:

"A family member from Irvine, CA (who's a branch manager at Bank of America) told us two weeks ago that her bank held a workshop where the last two days were dedicated to discussing their bank's new security measures... [M]embers from the Homeland Security Office instructed them on how to field calls from customers and what they are to tell them in the event of a national disaster. She said they were told how only agents from Homeland Security (during such an event) would be in charge of opening safe deposit boxes and determining what items would be given to bank customers. At this point they were told that no weapons, cash, gold, or silver will be allowed to leave the bank -- only various paperwork will be given to its owners. After discussing the matter with them at length, she and the other employees were then told not to discuss the subject with anyone.

"The family member has since given her notice to quit the bank. I found the news alarming and decided to find out more myself. On a trip to my bank here in Houston, I remarked to a young bank employee (who's new there), 'Well I guess you've been told all that stuff by the manager and the Homeland Security about what to tell your customers' - and to my amazement, the young woman came right out and said yes she'd been through all that, then whispered to me across the counter, 'but we're not supposed to talk about it - I could lose my job.'" Lesson to learn: don't depend on getting access to a safety deposit box. If you must use one, only keep documents in it -- no valuables. Obviously the feds plan on confiscating gold again!

[Sarge]

I sure am glad they don't have drugs on that list. Smile. Just kidding.

I wouldn't trust a safe deposit box right now for anything. I used to trust them but not now with what is going on around the world.

I would add expensive jewelry to that list.

[acptulsa]

The government will seize safe deposit boxes in a crisis? Hell, they'll seize safe deposit boxes in the event someone dies with one but without a last will and testament...

[ronpaulforprez2008]

There is a rumor floating around that Instructions to forbid sales of gold in Europe are in the loop. Instructions to german banks to not sell gold to private individuals are supposedly already developed. Here's the email, the original was in French and the someone else used Google translation to convert to English:


Message from an Austrian changer.

Dear Mr. Murphy:

I am the publisher of the Web http://www.hartgeld.com and I wish to inform you that I have received several messages from everyone in the sense that the EU would soon begin a hunt for holders of gold. The authorities fear that a bank panic not generate a flight to gold that can not be stopped.

Several rumors circulating in the banking circles:

Rumor No. 1: (a top banker in Germany) if the measures outlined last week failed and a massive stock market crash occurs in coming weeks limits in the trading of gold will be immediately throughout the European Union, namely:

- The purchase, sale and possession of gold will be banned

- Withdrawals accounts will be limited, and companies must justify their remittances.

In any event, even if this does not happen now, plans are prepared to put all this out very quickly.

Rumor 2 (a former Austrian banker who has maintained excellent contacts):

- German banks have been instructed not to sell gold to the public:

Here with an article in German retailer this instruction: http://www.mmnews.de/index.php/20081...sverkauft.html

- Efforts are being made to reduce the quantity of gold and silver purchased by the retail market to reduce the current stress on the ingots, including the bar of 400 ounces of gold in London, which is essential in determining the price fixing. In this way they découplent demand and the formation mechanism of price.

The international financial system today faces its most extreme limits on both sides of the Atlantic. It would seem that measures of despair like the one mentioned above are envisaged, but in any event, and as so aptly Richard Russell, for them it is "inflate or die", inflation or death. It is feared that if the rumor No. 1 becomes reality in the very next week we see scenes of uprising.

There is almost no gold here in Europe. In Germany banks now refuse to sell gold, either because they have more goods, either because of the directive mentioned above. Here in Austria, there is still some gold available from some banks, although the quantities are limited.

There are also massive ticket in bank branches, even the central bankers admit.

I thought this might interest your readers.

With my best greetings from Vienna, Austria

Walter K. Eichelburg

It's a rumor and so should be taken as such, but a gold ban would not surprise me as it is the last place to run. So, who would be most likely to start a rumor such as this?

1. Central banks, trying to suppress gold.
2. Some devious gold bug, trying to push the price of gold back up.

This rumor is certainly suspicious, but is provided for all to evaluate on their own. Caveat Emptor!

[JohnJay]

a Bennie alert -
and Alan Greenspan even disagrees with him now officially.

[dr. hfn]

im so angry right now

[JohnJay]

Bennie is about to do it - again.

More free money needs to be printed he believes.

[JohnJay]

Bennie hints at lowering interest rates -
and so gets the technicals skewed for the market makers this afternoon -
but Bernacke DOES NOTHING for the fundamentals.

Bennie loses - only because Monday is just another day to print free money.