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Sunday, March 31, 2013

Statewrecked

The next stage in the financial crisis must be coming sooner, rather than later, for the NYT to publish an open warning like this one by David Stockman:
As the federal government and its central-bank sidekick, the Fed, have groped for one goal after another — smoothing out the business cycle, minimizing inflation and unemployment at the same time, rolling out a giant social insurance blanket, promoting homeownership, subsidizing medical care, propping up old industries (agriculture, automobiles) and fostering new ones (“clean” energy, biotechnology) and, above all, bailing out Wall Street — they have now succumbed to overload, overreach and outside capture by powerful interests. The modern Keynesian state is broke, paralyzed and mired in empty ritual incantations about stimulating “demand,” even as it fosters a mutant crony capitalism that periodically lavishes the top 1 percent with speculative windfalls.

The culprits are bipartisan, though you’d never guess that from the blather that passes for political discourse these days. The state-wreck originated in 1933, when Franklin D. Roosevelt opted for fiat money (currency not fundamentally backed by gold), economic nationalism and capitalist cartels in agriculture and industry....

The United States is broke — fiscally, morally, intellectually — and the Fed has incited a global currency war (Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling) that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is. 
This would appear to be some sort of warning shot across the bow of Wall Street.  And when he talks about getting out of the markets and hiding out in cash, don't forget that leaving your money in the bank is absolutely NOT getting into cash.

Labels:

83 Comments:

Anonymous Anonymous March 31, 2013 1:35 PM  

Oh boy

Anonymous Sigyn March 31, 2013 1:48 PM  

And they publish it on a Sunday...

Blogger tz March 31, 2013 1:54 PM  

Stockman was one of the best of Reagan's administration. He wanted real cuts back then. He also had an article exposing Bain Capital, Romney's corporation as just another vampire.

Note he mentions the danger in being against "free trade", the equivalent problem of the Keynesian stimulus that goes to enrich connected cronies. propping up old industries (agriculture, automobiles) ... economic nationalism and capitalist cartels in agriculture and industry..... We have the crony cartel managed trade mislabeled "free trade".

The US became broke morally first. Wanting shirts for $5 at Walmart which are only possible because China violates property and human rights is no different than getting them for $2 off Ebay from a shoplifting fencing ring.

Abortion is a bailout for women and the men who don't want to pay for support - can they sincerely complain about wall street? Both lust and greed are cardinal sins and violate the virtues of temperance and justice.

But he is Risen today, Alleluia! And he is in control. It might take a collapse, a descent from the dying embers into total darkness to finally go toward the real light.

Blogger Joe A. March 31, 2013 1:54 PM  

And... the comments are all attacking him already, wow. He's being accused of trumpeting the "usual Republican theme"...

Anonymous Big Bill March 31, 2013 2:04 PM  

If you go to your local bank and announce you want to withdraw $500,000, what happens? I don't want a check. I want cash.

What is the typical turnaround for getting that kind of cash? A day's notice? Two days?

I would love to take delivery here at work since we have a branch of the credit union right here on the premises and I will not be robbed.

Should I ask for new bills? Old bills?

Blogger The Great and Powerful Oz March 31, 2013 2:06 PM  

Where can I go where things are different?

Anonymous Godfrey March 31, 2013 2:31 PM  

@The Great and Powerful Oz March 31, 2013 2:06 PM
Where can I go where things are different?


There is nowhere to hide in a fallen world.

Anonymous Scintan March 31, 2013 2:32 PM  

Should I ask for new bills? Old bills?

It doesn't matter, because you'll want to use that money to buy gold right away. If you really are worried about currency wars, you want the good stuff, not the paper.

Anonymous The other skeptic March 31, 2013 2:32 PM  

Hey Nate, Enstrom or Robinson for training?

Anonymous James May March 31, 2013 2:35 PM  

And where is unemployment? 7.7? Same as it ever was under the economic training racial community advocacy has given us in the form of Obama.

In this scenario, a simple pragmatic solution, simply booting out illegal aliens and so giving Americans jobs, will not even be considered. Neither will the end of foreign aid given out in our own country to racial enclaves which despise the idea of America and extort money from it.

The question becomes, how close to an actual collapse and beginning of a back slide do liberals need to come to before they see the destructiveness of their world view?

Since we haven't experienced anything like this intersection of race and economics in our history, and given the delusions of the Left that gives out Nebula awards to bitter racists in the name of anti-racism, I wouldn't hold my breath waiting.

The collapse will continue apace; probably so slow it can only be given context and meaning by those old enough to sense the loss over decades. A thing done slowly is how failure can be mainstreamed and even made to seem reasonable, no matter how destructive. 7.7 becomes the new 4.5.

I know this: schools once had no security of any kind and didn't need them. One man once made what he and his wife today make in real terms. We didn't have bigots who organize themselves by multiple bickering identities running mainstream institutions. Kids could run around the neighborhood in the evening without child protective services being called because sexual depravity has been mainstreamed. Can't wait for Valerie Aurora and her nunnery of mad feminists to pass out anti-harassment policies at bondage and pimp conventions.

The great irony is how much liberals cry about rape culture and poverty without understanding how much they have created it. You see, there used to be this insane idea called a chaperone...

Blogger StokeyBob March 31, 2013 2:48 PM  

Capitalism seems to have been killed by the backdoor stealth socialism cause by the ability of some, inside and outside of the country, to fire up the fake money presses and print up whatever it takes to get their way.

Maybe this will help make the danger of fiat money clear.

Imagine you and me are setting across from each other. We create enough money to represent all of the world's wealth. Each one of us has one SUPER Dollar in front of him.

You own half of everything and so do I.

I'm the government though. I get bribed into creating a Central Bank.

You're not doing what I want you to be doing so I print up myself eight more SUPER Dollars to manipulate you with.

All of a sudden your SUPER Dollar only represents one tenth of the wealth of the world!

That isn't the only thing though. You need to get busy and get to work because YOU'VE BEEN STIFFED with the bill for the money I PRINTED UP to get YOU TO DO what I WANTED.

That to me represents what has been happening to the economy, and us, and why so many of our occupations just can't keep up with the fake money presses.

Anonymous . March 31, 2013 2:55 PM  

The title of the op ed is stupid.

"State-Wrecked: The Corruption of Capitalism in America"

If the problem is repeated, pernicious state intervention in the market, the problem is not "capitalism".

Even "crony capitalism" is a misnomer. The transfer of wealth from the politically unconnected to the politically connected is NOT capitalism.

Anonymous re allow anonymous comments March 31, 2013 3:00 PM  

Always with "the top 1%".

Meanwhile the 0.1% laugh.

@ 2:55pm .

The transfer of wealth from the politically unconnected to the politically connected is NOT capitalism.

Actualy, it is capitalism. Perfect, PERFECT capitalism. Sorry the Cato Institute lied to you.

Anonymous The other skeptic March 31, 2013 3:11 PM  

Look for signs that insiders are dumping their stock. Because of various lockups etc, they have to do it well ahead of announcements that things are going bad.

Anonymous whatever March 31, 2013 3:16 PM  

They don't help people. Ever.

Maybe you should consider that.

Anonymous VD March 31, 2013 3:37 PM  

I deleted the comment. Best not to share such details on the Internet.

Anonymous farmer Tom March 31, 2013 3:49 PM  

Vox,

A friend on FB posted a link to this article. I copied and pasted it intending to come here and have Vox comment on it.

So my question is? I think Stockman has the proper perspective on causation, but his prescriptions at the end of the piece seem both useless and hopeless as well. Could you comment on his prescriptions? Please.

I know some of my Repuke friends will be suggesting his prescriptions as the answer.

Blogger John Williams March 31, 2013 3:58 PM  

And where is unemployment? 7.7? Same as it ever was under the economic training racial community advocacy has given us in the form of Obama

Don't forget about disability. It's numbers are growing at a fast rate and it's just the Feds paying people not to work, except the numbers are transferred from the unemployment numbers to a statistic no one bothers with.

Anonymous TruthSeeker March 31, 2013 4:01 PM  

I think this explains a lot of what is going on.

https://www.youtube.com/watch?v=Vvn9cSHJLQk

Anonymous Brian March 31, 2013 4:13 PM  

Two possibilities:

One, the NYT is publishing this so they can thump their chests when the collapse actually happens. They can point out to skeptics "see, we told you so!" and then they can continue to parrot their agenda to a gullible audience. Of course, the article is posted on Easter, when nobody will read it and it will get buried beneath the Monday morning headlines. As always, their liberal readership would therefore be spared the burden of thinking.

Two, this is a sham attempt at giving the "other" side a voice, while paying people to set up fake comment accounts to bash it. Therefore, they can continue to parrot their agenda to a gullible audience. As always, their liberal readership would therefore be spared the burden of thinking.

Anonymous Orville March 31, 2013 4:17 PM  

Stockman has been giving this message for some time, but what is new, as Vox points out, is that the MSM organs are now pulling back the curtain a little.

Insiders are already selling out. Zerohedge has had a number of posts on this. What I'm personally looking at is how fast the bank exodus metastasizes. With the leverage ratios and rehypothecation that most of the large banks have, the loss of deposits will be like a neutron bomb going off.

Anonymous Freddy March 31, 2013 4:51 PM  

"Post tenebras lux" was the cry from The Reformation...."After darkness light."

There will be no innane Left Behind fairy tale escape hatch for you dispensationalists to find refuge in.

Anonymous James May March 31, 2013 5:16 PM  

Disability is a con game. Anyone close to it knows this. There are ads to help you get it in return for a percentage of your extra SS take. I know a number of people on it. Only one deserves it. Tellingly, he was once shot in a hold up. That's disability, not being too lazy to get up and work.

Anonymous DonReynolds March 31, 2013 5:38 PM  

I have always had great respect for David Stockman and this article has only added to that respect.

When I studied economics in college, I can distinctly remember the few times we ever used the word "trillion", now Zimbabwe has a trillion dollar note. Granted, much of economic education is about a growing economy with special attention paid to those unusual times when economic growth might slow or pause, but there was NEVER...and I mean NEVER....a chapter or measure or concept that would be called "meltdown" or "collapse". I made an extra effort to study the few times that could possibly be regarded as such, i.e. the Weimar Republic, the Dust Bowl and Great Depression, the end of the Third Reich, communist revolutions in Czarist Russia and Nationalist China, and the occupation and reconstruction of the former Confederacy. In each of these examples, there was always an outside factor that facilitated the recovery of the economy, always a reasonable hope that no matter how deep or how complete or how devastated, the society and economy would recover in good time...even if that time seemed inordinately long to those living through it. But the looming train wreck we are watching today is completely void of any such hope and there is no possible outside factor that might facilitate an orderly recovery. I see only despair and hopelessness, resignation, and perhaps even the sense of deserved grief and profound justice. Clearly, our Republic is flawed, and has been flawed from the beginning, and it is these flaws that are now undoing all that has been accomplished. Men of integrity and honor now begin to feel humiliation and shame because they chose civility and peace instead of doing what they knew was right and correct.

Anonymous lurker March 31, 2013 5:39 PM  

OT,

SpaceBunny, The perfect addition to your living room. A new living room chair for Vox, The Iron Throne Lifesize Replica

From The Westeros Boutique

Anonymous lurker March 31, 2013 5:42 PM  

Forgot to add LOL!

Blogger Markku March 31, 2013 5:44 PM  

If I could choose the perfect addition to my living room, it would be a pair of Sphäron Excalibur loudspeakers, for a measly sum of just $455,000.

Anonymous Saint Revolution March 31, 2013 5:56 PM  

Don't forget RICO, people, if you are going to withdraw. Uncle Scam's Infernal Revenue Scum just LOVE to be put on notice. Less than $5,000 per alleviates any bank compulsion to report.

Anonymous Outlaw X March 31, 2013 6:21 PM  

Three weeks ago I transfered my 401K into an IRA. His secaretary (um, I mean administrative assitant) told me they rolled over into cash and he would be calling me in a day or two. Haven't heard a peep it sitting in cash. He is a family friend. I have the deposit receipt and account number, I think, but don't know he is afraid to invest it just now. At least it is no longer in the government 401K plan. I need to call him next week.

Anonymous jack March 31, 2013 6:21 PM  

Markku March 31, 2013 5:44 PM

If I could choose the perfect addition to my living room, it would be a pair of Sphäron Excalibur loudspeakers, for a measly sum of just $455,000.


Surely no loudspeakers could be worth that kind of money? Can they?
You're talking two or maybe a total of 4or5 for surround sound? You could probably equip an NFL stadium for that kind of money. Yes?

Blogger Markku March 31, 2013 6:25 PM  

You're talking two or maybe a total of 4or5 for surround sound?

Pair means pair. Surround is bourgeoisie.

Anonymous Anonymous March 31, 2013 6:27 PM  

So does anyone have any recs for whom a guy could talk to to navigate this situation?

N5

Blogger Markku March 31, 2013 6:29 PM  

As for whether I'm serious, not completely, but I'm more serious than most people here would probably consider sane. I wouldn't buy them in any circumstances for reasons of Christian stewardship, but if I had the choice between a sports car of equivalent cost and Sphäron Excalibur, I would choose the latter.

Anonymous jack March 31, 2013 6:29 PM  

Seriously OT. This is critical! IMO.

http://io9.com/this-new-discovery-will-finally-allow-us-to-build-biolo-462867996

The first biological transistor? NOW, I'm starting to get scared...

Anonymous jack March 31, 2013 6:37 PM  

From the article.
Similarly, a transcriptor regulates the flow of a protein called RNA polymerase along a strand of DNA. Transistors and transcriptors are, at their most basic, on/off switches – the gatekeepers of information transmission, storage, amplification, and so forth.

Seriously folks: what could possibly go wrong with this scenario?

Anyone. Bueller?

I'm not trying to hijack this thread. This concept, however, just blows my mind away. Can you imagine Anonymous hacking into something like this. Can you imagine if such an organism somehow were made to be self replicating? I'm ready for Jesus to get here.

Blogger Nate March 31, 2013 6:59 PM  

"Don't forget RICO, people, if you are going to withdraw. Uncle Scam's Infernal Revenue Scum just LOVE to be put on notice. Less than $5,000 per alleviates any bank compulsion to report."

Just don't go around withdrawing 4,900 bucks very often. Because if you do... the banks will report just out of spite.

Anonymous The other skeptic March 31, 2013 7:11 PM  

I don't want to start a religious war, but I just want to say that I am pro-choice and believe in gun control.

You have a right to choose 9mm, .40, or .45 auto, and you should keep you sights on the target at all times!

Anonymous Outlaw X March 31, 2013 7:25 PM  

Just don't go around withdrawing 4,900 bucks very often. Because if you do... the banks will report just out of spite.

In 2010 I asked my lady friend bnk teller how much in csh I could pull out without reporting and she said anything less than 10,000 dollars we don't report. I guess it has changed.

Anonymous Outlaw X March 31, 2013 7:41 PM  

This would appear to be some sort of warning shot across the bow of Wall Street. And when he talks about getting out of the markets and hiding out in cash, don't forget that leaving your money in the bank is absolutely NOT getting into cash.

Vox, the "economy" is a strange thing. Everyone is buying 22 LR at 70 dollars ber 500 and glad to get them. Well if you haven't ever thought about the future I could see this, but we already have plenty as we saw it coming. Here is a clue. we aren't buying PM's or bullets just now we are buying chickens. Think about it, you can do without bullets and PM's. We have been ahead of the curve every single time.

Anonymous Matt March 31, 2013 7:56 PM  

Disability is a con game. Anyone close to it knows this.

I know exactly one person who applied for disability and was legitimately disabled. (It was a hereditary neurodegenerative disease which leaves a person with extremely limited motor control.) This person was denied repeatedly before finally lawyering up and getting approved.

A few days ago I heard an NPR(!) story about a town where a quarter of the population was on disability for back pain. Sheesh.

Anonymous Outlaw X March 31, 2013 8:04 PM  

Disability is a con game. Anyone close to it knows this.

I am not telling my story it is off topic but that is absolute and complete bullshit.

Anonymous harry12 March 31, 2013 8:24 PM  

. Outlaw X March 31, 2013 7:25 PM
Just don't go around withdrawing 4,900 bucks very often. Because if you do... the banks will report just out of spite.

In 2010 I asked my lady friend bnk teller how much in csh I could pull out without reporting and she said anything less than 10,000 dollars we don't report. I guess it has changed.


I just cashed a check ( made out to CASH ) for $1004.00 and the teller let it through, although she told me: "...their limit was one thousand dollars."
.

Anonymous Roundtine March 31, 2013 8:26 PM  

The NYTimes took a payoff from his publisher and when an editor saw there was Reagan and Republican bashing, it figured it must be ok.

Anonymous Roundtine March 31, 2013 8:27 PM  

I just cashed a check ( made out to CASH ) for $1004.00 and the teller let it through, although she told me: "...their limit was one thousand dollars."

Reporting limit or cash limit?

Anonymous Inane Rambler March 31, 2013 8:42 PM  

I am not telling my story it is off topic but that is absolute and complete bullshit.

I'll be eagerly awaiting you proving that assertion.

Anonymous Outlaw X March 31, 2013 9:34 PM  

I'll be eagerly awaiting you proving that assertion.

The funny thing is I won't have too. SSI isn't there to help the truly disabled, it is there to spend and gamble with. You have no clue. 33 years of paying that shit and get sick and am denied. But even if my lawyer can't get it done (since Oct 9th 2012 application). I really don't give a damn. Now go to your Republican party rally and help them blow up some balloons and chant USA-USA-USA. Then go cheat on your wife with some other woman at your church. And quit your preaching to me.

Anonymous Edjamacator March 31, 2013 9:39 PM  

What we need to fix this is a global currency. We could have something....maybe some kind of "mark" or so required by everyone who wants to buy or sell. Of course, those without that "mark" wouldn't be able to do so, keeping the new money system pure and incorruptible. I'm sure there are a couple of places on a body it could be put that would be easily seen and/or used.

Anonymous Outlaw X March 31, 2013 9:44 PM  

I'm sure there are a couple of places on a body it could be put that would be easily seen and/or used.

I am for the eyelids, just close your eyes and give us your money.

Anonymous Anonagain March 31, 2013 9:58 PM  

But the circuses are still such an entertaining diversion from the reality of the impending disaster. Game of Thrones Season 3 airs tonight and having no cable, I'm reduced to waiting for a pirated copy.

Anonymous RC March 31, 2013 9:59 PM  

"Don't forget RICO, people, if you are going to withdraw. Uncle Scam's Infernal Revenue Scum just LOVE to be put on notice. Less than $5,000 per alleviates any bank compulsion to report."

"Just don't go around withdrawing 4,900 bucks very often. Because if you do... the banks will report just out of spite." - Nate

Be very careful here. Federal law prohibits "structuring" transactions to avoid the reporting requirement. I know of a man in Leavenworth for a series of $3K withdrawals that were deemed to be structuring. You must also keep in mind that authorities look to confiscate large sums of cash and make it hell to get back. The agents receive a percentage as commission.

Anonymous Michael of Charlotte March 31, 2013 10:27 PM  

"The agents receive a percentage as commission."

Legally or because they can?

Anonymous JartStar March 31, 2013 10:27 PM  

Be very careful here. Federal law prohibits "structuring" transactions to avoid the reporting requirement. I know of a man in Leavenworth for a series of $3K withdrawals that were deemed to be structuring. You must also keep in mind that authorities look to confiscate large sums of cash and make it hell to get back. The agents receive a percentage as commission.

What's the solution then?

Anonymous Dr. Doom March 31, 2013 10:29 PM  

The Liberals/Progressives/Socialists/Marxists Want a Crash! Why do you think they support a barely literate Kenyan Illegal who has to read his speeches verbatim off a teleprompter? This is the Worst Puppet Show I have ever seen! They would have been better off using an animatronic dummy like the Presidents at Epcot Center.
When you get to a point where the only people who will buy your bonds and amortize your debt are the Central Bankers, you know the system is about to COLLAPSE! I mean really, if you can't find enough suckers in the Entire World to buy your bonds, then your credit rating must be de facto Junk Status!
The problem for the 1% is that there does not exist a Safe Haven for their assets anymore. Whether the USA or the EU is the first to collapse is immaterial, they have both fallen over the cliff of unpayable debts and untrustworthy leaders.
Gold, Silver, or Diamonds are great to have when there are things you can purchase with them, but in a Total Collapse situation it would be foolish to expect that merchants would still have goods and food in stock! The Long Awaited and Feared Zombie Apocalypse will definitely happen on the day the EBT SNAP cards stop working. I doubt hungry but uncivilized people are going to take no for an answer when they demand food!
The only way that any money, real or fiat, is going to be valuable and important is out of the Zone of Collapse. Canada, the Caribbean, or some other out-of-the-way place might be a good safe haven to flee to from the Total Collapse Zone. If leaving is not an option, then you should forget about money and get yourself a nice 3-6 months supply of food and ammunition to bide your way through the Transition Period between the American Dream and the Next Paradigm...

Anonymous RC March 31, 2013 10:31 PM  

"The agents receive a percentage as commission."

Legally or because they can?" - Michael of Charlotte

In Rick Reese's trial last summer, a man whose gun store, along with his cash, and any valuable possessions were confiscated by the Feds for what appear to be trumped up charges, the agents admitted under oath that they were paid bonuses on property confiscation. You can read all about it at the Luna Tea Party website.

Anonymous The One March 31, 2013 10:36 PM  

Are bank account closings treated the same as withdrawals? If someone closes a bank account with more then 10k in it, is that required to be reported?

Or what happens if someone has 11k, then they open a new account and transfer 3k into it? Then they close the 3k and 8k account, is that structuring?

Anonymous RC March 31, 2013 10:45 PM  

What's the solution then?" - JartStar

Pick your poison. If you have time, I would just make it your standard operating procedure to take out small amounts regularly, every paycheck or some other marking event, and a number well below any reporting cut-off. That would make it very difficult to be convicted of structuring transactions to avoid reporting requirements.

I simply said to hell with it and withdrew larger amounts that I knew would be reported. Most branches can come up with $50K with a few days notice and the headquarters can do better.

Blogger Markku March 31, 2013 10:52 PM  

Yes, I checked the original legalese. It explicitly says that trying to get around RICO, even if there is nothing illegal about the use of the money, results in prison term up to 5 years, fines up to $250,000 and practically always forfeiture of the unreported sum.

Obviously more, if they can establish something illegal about the use of said money.

http://www.fas.org/sgp/crs/misc/RL33315.pdf

Anonymous RC March 31, 2013 10:53 PM  

Are bank account closings treated the same as withdrawals? If someone closes a bank account with more then 10k in it, is that required to be reported?" - The One

I don't know; however, I'm now at the point where I just assume that everything I do is available to those governing the Land of Liberty. I know Nate believes them all too incompetent to do anything with the information at their disposal, but I'm not so sure.

Anonymous The One March 31, 2013 10:54 PM  

What is the danger of it being reported anyway? Does it get you on a naughty list because anyone who reads this blog regularly is already on one

Anonymous The other skeptic March 31, 2013 10:58 PM  

New World Order

Anonymous The other skeptic March 31, 2013 11:01 PM  

the agents admitted under oath that they were paid bonuses on property confiscation.

I'm surprised they just didn't lie.

"Wasn't me guv, honest."

Anonymous Beau March 31, 2013 11:19 PM  

DonReynolds wrote

I see only despair and hopelessness, resignation, and perhaps even the sense of deserved grief and profound justice.


Don, the circumstances you keenly observe are an invitation to seek shelter in the kingdom of God, where neither moth or rust corrupt, nor thieves break through and steal. In a period of brutal upheaval Polycarp confessed, "Eighty and six years have I served Him, and he never did me any injury; how then can I blaspheme my King and my Savior?" Casting aside secondary or tertiary concerns and controversies, can you embrace Jesus of Nazareth, the Son of Man?

Anonymous ThirdMonkey March 31, 2013 11:26 PM  

Banks file CTRs (currency transaction reports) for withdrawals >$10k. For everything else, there's SARs (suspicious activity reports), and suspicious has a broad definition. Each district has a SARs committee that comprises of bankers, prosecutors, and law enforcement that reviews them. There are so many SARs filed every week, it's easy to get lost in the crowd. Also, a major source of funding for law enforcement is forfeiture. The key is to not get greedy or rash, and no one will notice. Keep your lifestyle low, and you won't attract the attention of these goons.

Anonymous Frank Brady March 31, 2013 11:28 PM  

You don't need to try to cash a very big check to find the answer. A few months ago I needed to cash a check for $25,000 at a large branch of Bank of the West. They could NOT do it. The branch manager patiently explained that they did not have that much cash on hand

Anonymous harry12 March 31, 2013 11:33 PM  

Roundtine March 31, 2013 8:27 PM
I just cashed a check ( made out to CASH ) for $1004.00 and the teller let it through, although she told me: "...their limit was one thousand dollars."

Reporting limit or cash limit?


It was their cash limit. However, I was at the drive-up and received the amount I was asking for, so did not persevere.

Anonymous pc geek March 31, 2013 11:33 PM  

He sees all and I would hate to be a bankster on the Last Day.

Any prepping could come to naught depending on the circumstances but at least our treasure up in Heaven remains always safe.

God bless ya Beau! Hopefully we can prep as best we can in this world but no matter what He wins the endgame.

Good News indeed.

Anonymous pc geek March 31, 2013 11:46 PM  

A bit of appropriate follow-up:

From Charles Spurgeon's "Faith's Checkbook"
Presence of Mind
March 31

Be not afraid of sudden fear, neither of the desolation of the wicked, when it cometh. For the Lord shall be thy confidence, and shall keep thy foot from being taken. (Proverbs 3:25-26)

When God is abroad in judgments, He would not have His people alarmed. He has not come forth to harm but to defend the righteous.

He would have them manifest courage. We who enjoy the presence of God ought to display presence of mind. Since the Lord Himself may suddenly come, we ought not to be surprised at anything sudden. Serenity under the rush and roar of unexpected evils is a precious gift of divine love.

The Lord would have His chosen display discrimination so that they may see that the desolation of the wicked is not a real calamity to the universe. Sin alone is evil; the punishment which follows thereupon is as a preserving salt to keep society from putrefying. We should be far more shocked at the sin which deserves hell than at the hell which comes out of sin.

So, too, should the Lord's people exhibit great quietness of spirit. Satan and his serpent seed are full of all subtlety; but those who walk with God shall not be taken in their deceitful snares. Go on, believer in Jesus, and let the Lord be thy confidence.

Blogger Markku April 01, 2013 12:17 AM  

Loins: Gird
Foreheads: Strengthen
Faces: Set like flint
Reins: Rejoice
Hearts: Circumcise
Feet: Carry good tidings
Hands: Wash in innocency

That's the recipe for the coming days.

Anonymous dh April 01, 2013 12:42 AM  

If you go to your local bank and announce you want to withdraw $500,000, what happens? I don't want a check. I want cash.

What is the typical turnaround for getting that kind of cash? A day's notice? Two days?

I would love to take delivery here at work since we have a branch of the credit union right here on the premises and I will not be robbed.

Should I ask for new bills? Old bills?


I once paid a contractor who built my house in cash, over $100k. WE had some disagreements about how things ended, and I didn't trust him and he didn't trust me.

I went to my local branch of a mega branch (at the time), and wanted to pull it in cash. Eventually branch manager conceded they had never had that much cash in the bank at one time, ever. The most he could wrangle on the spot was about $10k.

He "ordered" it, and two days later I was able to walk out of the bank (after filing several IRS forms, by the way) with clean stacks of $20, $50 and $100 bills.

I believe at the time the 100's were circulated, but the $20's and $50's were clearly circulated. All paper banded and relatively neat, but of varying vintages and some were even the older style versions of the bills.

Anonymous Goldman Suchs April 01, 2013 2:09 AM  

The Sulzberger Times. Judaic Freemasonry. B'nai B'rith. This shit isn't that difficult. But it is for the trained masses.

Anonymous Ulmer Miller April 01, 2013 2:48 AM  

Funny, I always thought that as long as we sent our sons to die for Israel, their cousins in the banking sector over here would keep us afloat. Guess not!

Question for Ilk: If the EU fails soon and the member nations all go back to being nationalists and not strictly European, would that move up Vox's timetable for the Mexican reconquista of Aztlan? Will Mexicans look at the decline as their opportunity to move on it?

Anonymous Anonymous April 01, 2013 2:52 AM  

The requirement for reporting is anything over 10k but if I tell you to do less so as to avoid the reporting requirement I am guilty of structuring which is a felony. Sold cars for several years and we were given classes on compliance on this. So basically if you ask me will it be reported and I say yes so why don't you do $9,999.00 so as to avoid the reporting requirement I am guilty of structuring. Gotta love the feds!!

Anonymous Roundtine April 01, 2013 5:04 AM  

Will Mexicans look at the decline as their opportunity to move on it?

The reconquista is demographic, not military. Negative mood is not the time for a military/political adventure by Mexico, in fact if you were anti-Mexican immigration a military/political takeover by Mexico would be a gift wrapped surprise. It would end in a similar fashion to the first Mexican-American war, this time with a lot of Mexican refugees heading home.

Anonymous map April 01, 2013 5:11 AM  

I think cash structuring is about moving money out of the country.

Anonymous Anonymous April 01, 2013 6:03 AM  

Vox might be interested in this book. Gladio, NATO’s Dagger at the Heart of Europe: The Pentagon-Nazi-Mafia Terror Axis by Richard Cottrell

Anonymous Stilicho April 01, 2013 6:04 AM  

That's the recipe for the coming days.

Recipe? I thought it was already baked into the cake Mr. Calvin.

Anonymous DJF April 01, 2013 7:18 AM  

Remember Governor Eliot Spitzer got caught with the prostitute when his bank reported his suspicious money transfers. Of course as soon as he resigned the charges were dropped.

It was a good way for the banks to get rid of someone who was sometimes critical of them and also give a warning to everyone else that the banks knew where there money was going and could expose any illegal or immoral activity. These banking laws are perfect for selective enforcement, the same banks which managed to find Spitzer’s money transfer yet at the same time can’t find the billions in illegal drug money that flows through them.

P.S, Not a fan of Spitzer but its was pretty obvious hit on him by the bankers and government, they did not even bother to go after the other clients of these prostitutes.

Blogger Nate April 01, 2013 9:03 AM  

"What's the solution then?"

Take it out all at once and report it.

When they come for it... if they come for it... explain that you spent it.

Blogger Markku April 01, 2013 9:19 AM  

Recipe? I thought it was already baked into the cake Mr. Calvin.

You thought wrong. But I'm not going to explain it once again.

Anonymous Stilicho April 01, 2013 10:49 AM  

You thought wrong. But I'm not going to explain it once again.

Please, no. It was a joke. Too soon?

Anonymous geoff April 01, 2013 5:39 PM  

spitzer is a turd. but yeah bankers did him in which is why anyone making over 250k at big 4 banks should be concerned about guillotines in the coming unpleasantness. not saying i support that, mind you.

Anonymous Jack Amok April 01, 2013 6:30 PM  

the same banks which managed to find Spitzer’s money transfer yet at the same time can’t find the billions in illegal drug money that flows through them.

I figure Spitzer was just arrogant and didn't try to conceal anything. Mr. Big Shot prosecutor thought he was above the law. Through work I had dealings with that piece of shit back in the late 90's. Absolutely the sort of guy who thinks he's unaccountable, the kind of guy who would snarl "do you know who I am?" to anyone who tried to hold him accountable. The sort of idiot bully who goes on piling up enemies without realizing sooner or later he's going to make an enemy of someone who isn't afraid of him.

Blogger Markku April 01, 2013 11:17 PM  

One becomes a bit tired of that joke after the first twenty or so times.

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