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This is Why You Need Your Money Out of the Bank: Freeze Outs, Glitches and Holds Increasingly Locking Customers Out of Funds

Mac Slavo
March 27th, 2015
SHTFplan.com
Comments (109)
Read by 31,580 people

If ever you needed a better motivation to get your funds out of the bank, this is a clear sign that a digital clampdown is coming.

There are increasing examples of technology failures and stricter bank policies that are keep people from getting their money.

And they are happening all across the globe.

Ulster Bank in Ireland just made news after customers were locked out of their accounts by a glitch that disabled access to wage money:

Following a number of complaints from those expecting their weekly and monthly salaries to post, the bank apologised on Twitter for the glitch.

“We’re aware that a number of customers are experiencing delays in receiving credits this morning, our tech team are working on this at the moment,” the bank’s customer care account, @UlsterBank_Help tweeted.

Supposedly the problem is minor, short term and only happening at the one local branch. The bank has apologized for difficulties.

Unfortunately, the larger picture makes clear that this will happen again somewhere, and it could happen to many more people.

Even routine maintenance and website updates can be enough to block customers out of their accounts, often without even giving advanced notice; many credit unions, while offering a better choice, likely hold most of the same policies.

Consumer Affairs.com reported on many customers who’ve been shut out of their funds due to Suspicious Activities Reporting including cases where small business owners were considered potentially money launderers for conducting ordinary business by sending out checks to pay bills and employee salaries:

“I am a sole proprietor with a small business and have my income direct deposited into my checking account at 5/3. 3 days ago I went into the bank to get money orders and they treated me like I was robbing the bank. After about 40 minutes, they gave me the money orders and unknown to me had placed two half-a-million-dollar holds on my accounts with them. I was told it looked like money laundering and was treated like I had done something wrong,” she said. “They won’t give me my money and I can’t pay my employees nor my bills. They basically stole my money and I have to fight to get it back.”

South Africa just set new rules requiring banks to freeze the accounts of anyone who has the wrong address listed on their account.

If your bank statements are still being posted to an address that is no longer your residence, your bank account could be frozen, according to the South African Banking Risk Information Centre (SABRIC), which has urged South Africans to update their personal details with their bank.

In terms of the Financial Intelligence Centre Act (FICA), banks must have the correct customer information to ensure FICA compliance. ‘Know Your Customer’ (KYC) documents include, among others, identity documents and proof of address.

Similar policies in the United States, many of them established under terrorism laws, already require banks to automate monitoring and reporting of any suspicious transactions, including any transfers above $3,000 dollars, large cash withdrawals, all currency exchange activities and dozens of other details about individual accounts.

The laws even give banks legal immunity from any harm or false imprisonment that may come from false reporting “suspicious” activities.

As SHTF reported a few days ago, banks have even been ordered to seize cash from customers and alert police over large cash activities:

The Justice Department has ordered bank tellers across America to contact law enforcement if they suspect your cash withdrawal may have something to do with illicit activity. There doesn’t need to be proof, or any sort of red flag indicator – merely suspicion by the bank teller processing your transaction is now enough to have you investigated by authorities.

Via The Sovereign Man Simon Black

What a lot of people don’t realize is that banks are already unpaid government spies.

Federal regulations in the Land of the Free REQUIRE banks to file ‘suspicious activity reports’ or SARs on their customers. And it’s not optional.

Banks have minimum quotas of SARs they need to fill out and submit to the federal government.

A new wave of tech disruptions may even occur, as American consumers step inside of an era of cybersecurity full of hacks, denials of service, account restrictions, password fails, lockouts and the integration of biometrics for authentication that ultimately connects billions of people through millions of nodes on a global Internet dominated by corporations and ultimately regulated by the highly political FCC.

What happens when individuals are locked out of their lives or unable to monitor their accounts due to changing rules and standards for things like verifications, password retrieval, insufficient funds and suspicious (or misunderstood) transactions that draw red flags.

Establishing the status quo of strict surveillance and control has played out under a narrative of white and black hackers battling it out under the new rules of the game for cybersecurity.

“The banks are not only doing this for compliance purposes, but also to minimise customers’ exposure to bank crimes such as fraud, identity theft and cybercrime,” Pillay insisted. (source)

Quite simply, banks are required to comply with any and all requests for information, and increasingly, you will be required to comply with the banks on these policies, including verified up-to-date information on all manner of personal information and transaction details.

How far will it go?

The Halifax bank in the UK is already running trials to wirelessly verify biometric readings of your heartbeat signature in order to authorize ATM and bank transactions:

Halifax is believed to be the first British bank to trial technology which will allow customers to prove their identity through the analysis of their heartbeat.

[…]

Bank customers of the future could wear slender bracelets which measure the intricate “cardiac rhythms” unique to every person.

[…]

As with today’s existing contactless card technology, the bracelet, called a “Nymi”, will communicate with a checkout till or cash machine to allow the customer to pay for goods or draw money.

Keeping your money in banks under these circumstances will make banking convenient only for the most compliant members of society.

On the other hand, pulling all your money out can already draw suspicions. You are most certainly being watched.

Hence, many people have already opted out of the banking system. As Daisy Luther reported, an estimated 43% of Americans don’t rely on their deposits any more:

This means that 43% of the people who are saving money are not putting it in the bank.  This is good news for those of us who wish people would wake up and see the net being cast around them, but bad news for the banks that depend on deposit accounts to be able to give out loans and earn interest.

[…]

In an recent interview, alternative asset manager Eric Sprott explains why stashing fiat currency in a bank is a bad idea:

In my mind the biggest reason to own precious metals is because of the risks in the banking system… you get nothing for putting your money in the bank… and yet when you have your money in the bank you take on all the risks of a leveraged bank… and I’ve always thought it’s the risks in the banking system that would cause people to go to gold… (Source: SHTFplan)

Long term, there may be value and necessity in reorienting your efforts in the barter system, and not only being able to buy and trade goods and services in gold and silver, but in being able to sustain yourself by providing a useful skill or service.

Transitioning into that could be challenging, but is a worthwhile pursuit in your prepping readiness lifestyle, and a big part of being self-sufficient, as Tess Pennington’s Prepper’s Blueprint explains in chapter 53 on the importance of bartering and community for survival.

Don’t say it couldn’t happen, lest, we should wait for another MF Global to happen, and customers to take a loss on their stolen funds.

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Author: Mac Slavo
Views: Read by 31,580 people
Date: March 27th, 2015
Website: www.SHTFplan.com

Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

109 Comments...

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  1. Genius says:

    But, but, cash is the instrument of terrists 😮

    • Genius says:

      Speaking of terrists I have an idea to share. Air conditioning is not feasable in most off grid places so I thought of a way to make an air conditioner that uses very little power and adds no humidity.
      1: Dig a hole next to your house deep enough to bury a 55 gallon drum with 18 inches of dirt on top.
      2: Get a plastic drum with removable lid and drill 2 1/2 inch holes in the lid about 6 inches apart.
      3: Run a section of 1/2 inch OD poly tubing in each hole with one tube connected to a 12 volt submersible pump (ebay) with a long enough wire to reach 8 feet or so. and feed it through the lid just enough to reach the bottom of the barrel. The other tube will just be 2 inches through the lid.
      4: Seal the tube holes (and wire hole) with silicone and let dry. Fill the barrel with water and seal the lid on and bury it in the hole. Run the tubes and wire into your house where you want the air conditioner making sure you have enough tubing to move it around if you need too.
      5: Get a 15-30 fin oil cooler (like a small radiator) cheap on ebay and build a box with 2 open ends so that the cooler fits snug in one end. At the other end of the box put a small fan (either 12 or 110 volt) that is close to the size of the opening and seal it to the end opposite the cooler with whatever works (duct tape).
      6: Attach the tubing to each end of the cooler (so water circulates through it) and seal it up good. Wire the wires up to your 12 volt power source with a switch and turn on the pump. As the water circulates it cools the cooler fins and the fan blows warm air through the fins cooling the air. The cool underground temp. keeps the water cool. Insulate the exposed tubing to make it more efficient. I figure you could build the whole thing for about 200 bux.
      Better than a swamp cooler and uses less power (about 25 watts total) with no added humidity. The portable swamp cooler we have now is 120 watts and doesn’t do much and adds a lot of humidity (making it seem hotter). If you have a larger cistern or tank already buried you can use it instead of the barrel (be sure to use a new oil cooler NOT used). During winter just disconnect the tubing and drain the water back into the tank. Theres yer prep tip for the day 🙂

      • Sharon says:

        You can find instructions to do this on the internet if you look enough. A system like this is actually used commercially for year round temperature control but I’ve forgotten what the system is called.

        There are thermal and BTU calculations based on local climate conditions and the cubic footage of climate controlled areas that can be used to determine how large an underground tank is required and at what depth, it’s actually quite a bit of water needed but that is also storage water in a pinch. If the water isn’t used for other purposes as well, the underground water tank only needs to be filled once anyway.

        I think ideally, a well system to keep it replenished as water is used for other purposes might be interesting but this might also interfere with the thermal cycle. Maybe just think of it as additional water storage to rely on if the well fails for some reason.

        Overall, the water heats up during the summer while cooling the area and cools off during the winter as it uses the summer (accumulated) heat to heat the space. Sort of like a heat pump but one that uses stored and released heat from a water reservoir instead of the surrounding air.

      • TnAndy says:

        Once you actually TRY this, you’ll learn something about Delta T….temperature differential.

        You’ll be lucky if there is enough difference in your ground temperature (say 55, until you begin to heat up that drum of water) and your room temperature (say 80) for you to even feel a slight cooling effect. You can cool with water….it just takes a WHOLE lot more of it, and a WHOLE lot more surface area than that drum will provide.

        The reason an air conditioner works is the freon, under high pressure, changes from a liquid to a gas in the evaporator (cold coil) in the -20 to -40 F range (depends on which freon). That gives you a Delta T of close to 100 degrees between the freon and room temperature.

        • Genius says:

          Ya I wondered about that. It has to work better than a small swamp cooler though. The flow rate is about 2 gpm and I can adjust it to less. I know that when I pump water from the cistern it is freaking cold! Maybe use the cistern instead as it holds a lot more water. What do you think about burying a 1/2 inch copper coil in the ground to cool the water? Freon is not an option.

          • TnAndy says:

            Actually, swamp (evaporative) coolers work with a better Delta T than you might think, depending on the relative humidity of the area.

            Using enough pipe, and getting it deep enough (problem with summer temps is the ground temp also rises in the first couple feet), it would help. You’d probably want 3/4 or 1″ pipe, because the amount you need is going to cause friction loss problems in 1/2″.

            The surface area exposed on a 55gal drum is something like 30sqft. (2′ diameter, 4′ tall) It would take roughly 15 linear ft of 1″ pipe to equal 1 sqft of surface area, so 30×15= 450′ of copper pipe to equal the drum. Lot of pipe ! Lot of digging.

            What’s the problem with a freon based machine ?

            • Genius says:

              Too much power consumption, 1000 watts for most of the day is not doable. One point about using pipe is it spreads out the heat dissipation into the ground (ground warming) so during its travel the pipe gets cooler so say if it was 75 feet long it would have contact with a larger area of cool dirt (I think), I can see how a drum would eventually heat the surrounding soil and become ineffective if used for long periods. A pipe in my thinking would have better dissipation since it would always be getting cooler as it traveled and dissipated heat. Or just spend another 5 grand on expanding the solar system.

              • TnAndy says:

                Look at mini split AC unit that run directly off 48v DC….no need to invert to AC. Cheaper than you might think.

                http://www.hotspotenergy.com/DC-air-conditioner/solar-AC-technology.php

                • Genius says:

                  TnAndy, Thats pretty cool thanks. I might consider that if I was doing new construction. But it is a little cost prohibitive for what I would need to make it work. I would need: 1700 for the unit, 1000 for panels and wiring, 1000 for a top of pole rack and 6 inch pipe (it would have to turn as the sun is pretty far north in summer and most heat is in the afternoon).
                  I will keep this unit in mind for others though who are doing new construction solar or might want to add it to their system. Thanks for all the info and welcome to shtf!

              • Genius says:

                The other system I thought of (which I found out was already thought of) was burying about 75 feet of culvert pipe 4 feet deep with 90 degree elbows at each end and drawing air through it to cool the air. The problem with that is I have read it will collect moisture and therefor get moldy. I have read that people in other countries make a food cooler out of a hole filled with wet sand and a pot and a cover. The wet sand extracts the heat from the pot and keeps the food cool. Perhaps this would work on a bigger scale with a tank of water surrounded by sand kept damp. What do you think?

                • durangokidd says:

                  ““I am a sole proprietor with a small business and have my income direct deposited into my checking account at 5/3. 3 days ago I went into the bank to get money orders and they treated me like I was robbing the bank. After about 40 minutes, they gave me the money orders and unknown to me had placed two half-a-million-dollar holds on my accounts with them.”

                  That’s a million dollar hold. Why is a million dollar + small business conducting its financial transactions in money orders when a company of this financial size should have a corporate or DBA business checking account to pay bills and keep tabs on the expenses and cash flows?

                  No wonder the bank was suspicious. Would you rather they looked the other way, or worse, facilitate money laundering for gun runners and drug smugglers like HSBC?

                  You can’t have it both ways. 🙁

                • Rodster says:

                  I gotta go with what DK said.

                • RedeemedWench says:

                  DK-I respectfully disagree. My husband has a small business (for 38 years) that can at any time, have that amount of cash once a job is completed; however, cash does not mean liquidity as much of it is already spent on overhead. Also, some suppliers and vendors will only take cash and certified funds as they get tired of bad checks from other businesses. The fact that she is a sole proprietor has nothing to do whether or not she is keeping things on the up and up . The DBA/LLC concept is to shield the owner from losing personal property, but instead, it is now a tool for the IRS and government to monitor, regulate and accuse. If this woman is a sole proprietor, money orders make more sense than a checking account. The very fact that a lone bank teller can have you flagged should be enough to set off alarm bells. This crap is all under the guise of “National Security.” All while our politicians’ campaigns are being funded by Muslim Brotherhood money. Just sayin. GOD Bless You.

                • TEST says:

                  Genius – you are referring to zeer pots. Just google it.

                • durangokidd says:

                  RedeemedWench: Not buying your argument. Any Person who writes a bad check for over $100 in Arizona has committed a felony. That is likely the case where you are located too.

                  Checks give a small business owner MUCH better control over cash and expenses. Vendors who want to be paid in cash should stand on the corner and fly a sign.

                  Without the cancelled check, the SBO might have a hard time proving his/her expenses on a particular project in an audit.

                  Find a professional vendor who is willing to accept a check and you are more likely to get a professional job.

                  I accepted checks from homeowners every day after inspecting their house to conduct a real estate appraisal, for many years. Then I cashed it at their bank before completing the appraisal.

                  Commercial appraisals required half up front and the balance on delivery. No exceptions. A professional fee was charged and a professional analysis was conducted.

                  If your receivables are running more than 30 days late then you need to communicate with your clients the importance of timely payments; or find new clients. 🙂

      • John_Allen says:

        @ Genius

        I was rowing across the local lake, headed for Blackbeard Island. A terrible storm came up. The rowboat, containing five-sixths of my life savings, was lost. Terrible tragedy. My swimming skills kept me afloat until the largest lake carp you’ve ever seen told me to hop on its back. It deposited me on the shore next to the county road. Growing more tired with each step, I managed to stagger the ten miles home. Eek out a living now making buggy whips and shoeing unicorns, strictly a cash business, but at least my funds are where the bankster scum can’t grab them. Red sky at night, sailor’s delight. Red sky in morning, sailor take warning.

      • old70 says:

        if the coming collapse turns out to be anything like it’s supposed to be, no money, stores closed, no food, no gas no nothing for the people who are not prepared, an air conditioner is going to be the least of the survivors worries for a few yrs. it’s nice to dream though, I picture myself around the old campfire eating sausage and peppers, drinking a cold beer while watching looters get massacred on the flat screen.

      • Anonymous says:

        I’m thinking about opening an account in a credit union.

        • John_Allen says:

          @ Anonymous

          Federally chartered credit unions are subject to Dodd-Frank and to the FDIC – Bank of England Joint Policy Paper of December 2012 that Michael Snyder wrote about in April 2012. He posted here and other places.

          Gist is: we are no longer depositors. We are unsecured creditors. The financial institution, credit unions included, own our accounts from the moment we deposit them. In extremis, you might be issued stock in the financial institution but you won’t be getting your money out. Good luck paying your bills with that.

          The FDIC – B of E paper is: Resolving Globally Active Systemically Important Financial Institutions. Gist is, what they did to the little guy in Cyprus is built into existing regulatory/legal framework here.

          Leave only a few token $$ to keep your account open. If you don’t have your legal tender in the Bank of You you won’t own it when the time comes.

      • DUGETRUX says:

        WHY NOT JUST USE WATER FROM A SHALLOW WELL IF AVAILABLE? HEATED WATER COULD JUST BE DISCHARGED. SOLAR POWER THE ENTIRE THING….

      • jake b says:

        Sorry fella but it won’t work. The “cooling effect” is a combination of lowering temperature and extracting moisture. A swamp cooler lowers temperature but not humidity. That’s why they are only used in “low humidity conditions”. Unless you can produce water temperatures below 50 degrees (and preferably lower) to dehumidify the air you are wasting your time.

    • Acid Etch says:

      Train yourself to eat small portions and stop eating just before you feel full. Don’t eat out. Drink water with every meal.

      Put McDonald’s out of business. Get a great muscle body and be fit and healthy.

      The body is the second most important prep. SHTF is very hard on the body. You will need to be strong.

    • Acid Etch says:

      Dunjin and Hammerhead:

      I’m indifferent to your waste of space snarky comments, but when you make false accusations of pedophilia when I have repeatedly expressed my outrage at you bigoted rednecks smearing the gay community as such, you have crossed a big red line. That is really vile, hateful, and despicable. Gays get murdered because of hate merchant propaganda like yours. Or do you just not care and want to kill all gay people? I have no words for the sorrow I feel for that. Do you think sexual orientation is a choice?

      PS The Narrows is not whitewater. It is ankle deep.

      • Dunjin says:

        Whatever you little faggity shit smear, you know damn well you told me you would rape my two year old daughter not two fuckin days ago, and remember wiprepped? You said the same about his daughter. Deny it all you want, you know what you said. Its easy to
        Go back and look. Like i told you, you you’re damn lucky you’re just a computer tough guy because if you were to say that to me in person, that would be the end of you faggit. Yes I hate faggits and I think they should all be put on an island so they could screw each other and eat each others shit all they/you want and eventually die off. Your kind spreads disease and vile, perverted behavior. You will all burn in hell. It is a choice. You are not born fag. You were more than likely raped or molested when you were young and it led to a phsycotic break. I sincerely hope you die an agonizing death from aids. The world would be better for it. Oh, and stop making up stories the places you go. You are pathetic and even if you did go places, nobody gives a shit about you. Everyone here cannot stand you, with the exception of a couple of other fags. Eat shit and die. I’ll send you my address if you want to discuss this in person but be warned, you will not make the trip home.

        • Acid Etch says:

          I have never threatened to rape anyone, plus you never specified the age of your daughter. You only said you had a daughter. How should I know anything about you? WIPrepped’s daughter is in college.

          I don’t know what you plan to accomplish by writing a pointless comment after everything I write. I really don’t care.

          I have never made up any of my adventures. How could I fake specialist knowledge? I know that at the Cave of the Mounds there is a barn up the hill from the cave where they show you a slideshow of old pictures and they display old mining equipment. I know that during the cave tour they shut all the lights off so you can see that some geologic formations glow in the dark. I know that at Oshkosh they have a replica of the Wright flyer in the museum. I know that at the Harley restaurant the bathroom is on the second floor. I know they have a motorcycle in the museum that floated across the Atlantic Ocean from Japan to Canada. Now do you believe me? I don’t care.

      • Antacid says:

        DUH, The guy said “FLASH FLOOD” Best you stick to paddling in the kiddies pool.

      • anonymous3 says:

        We don’t hate you ’cause you’re gay acid etch. We hate you ’cause you’re an asshole.

      • DUGETRUX says:

        DEAR DUJIN, AND ASSHOLE STRECH. DO YOU GUYS WORK FOR THE GOV?(SHILLS) BECAUSE IF THE PEOPLE OF THIS COUNTRY ARE AS STUPID AS BOTH OF YOUR COMMENTS REFLECT, IM MOVING TO CANADA..FUCKIN ASSHOLES..

    • Acid Etch says:

      Obambi now says overprescribing antibiotics is a serious problem (it is) and steps should be taken (they should be).

      Stock up on antibiotics now.

    • Acid Etch says:

      Congress just quietly voted to send the Ukrainian rebels $75 million in offensive weaponry.

      Still rooting for our heroes in uniform, you stupid fucking old people? Still waving flags at the parades? Still think Amerikkka does no wrong and cant figure out why 80% of Russians hate our fucking guts? Why we have such a bad reputation around the world? You can see by the comments which will invariably lie below this post the intellectual quality of baby boomers. Fucking birdbrains.

      The proxy war is heating up.

      The global economic depression sure as shit stinks will stoke WWIII.

      I am increasing my fallout preps. A few simple air purifiers around the house will ionize radioactive particles that slip through the tarps covering permeations in the house.

      • Dunjin says:

        Nobody cares about your fag preps little boy. I gotta ask, you’re gay right? Does feces taste good? Do you enjoy sucking other guys assholes? You keep posting like there’s somebody that gives a shit what you say

    • Acid Etch says:

      I bought a fishoflage life jacket that I plan to wear when I do the Narrows in Zion National Park in case of a flash flood. My balls is bigger than y’all old peoplez.

      Some of you retards are saying that adventuring doesn’t matter? Why the fuck did you come to this site then? To theorize?

      You can’t call yourself a real prepper unless you are also an adventurer. That’s like a fucking college professor explaining how the real world works.

      • Dunjin says:

        You are such a lying little bitch. So your saying that because wiprepped’s daughter is in collage its OK to make the comments you made? You know damn well that the reason you say what you say is because you’re behind a keyboard. The point is, little fag, is that you are a typical internet tough guy that prolly has no friends in real life so you come on here and make shit up thinking people will like you. You’re wrong. Everyone here would like to beat the shot out ta you because of the things you say, knowing you would get beat bloody if you said these things to someone’s face. You gotta put other people down all the time because in reality, you hate yourself.Typical coward. I think you know you’re a little bitch. I know what you said. Its all good. I’ll get your IP soon. Like I said you’re prolly just some little kid, borderline suicidal from being raped by you father. You’ll get yours fag.

    • rightwingterrorist says:

      I accidentally lost all of my money as I was cleaning it while I was fishing.

      That, and I just lost my energy sector job 2 days ago.

  2. PC SUX says:

    I hate banks. I expect them to start taking more of any $$ in there… Negative interest and other fees to hold the money. Its a shame the country is circling the drain. It used to be a great place to live.

  3. watching and waiting says:

    So, where do we go when cash is outlawed? When we go to a cashless society?

    Don’t laugh, don’t mock me. It will happen.

    That will be how control will be placed on buying and selling.

    And without a certain check ID or mark, you won’t be able to buy or sell.

    • Genius says:

      No worries, I will accept gold and silver as payment. Many other things I will accept too such as ammo, food, clothes, personal items, labor, fuel, etc. People are way too brainwashed into thinking only fed reserve notes are money. Money is anything people will accept as such. There now, don’t you feel better?

      • Genius says:

        In fact as I have said before, “95% of our problems could be solved by just one action” And that is for everyone to stop using fed reserve notes as money! Pretty simple huh? That would strip their power overnight. Think about it.

    • anon says:

      Establish residency or citizenship in another country?

    • Masgrande says:

      I agree with you. If your card or ID get turned off, it may be impossible to buy gasoline or pay your utilities or buy groceries. The few who live off-grid will get by for most people it will get ugly.

      • Genius says:

        Yep, the consumers will be consumed. I guess thats what happens to a society that consumes shit and turns their back on being self reliant and/or prepared. Definitly one for the history books. Rampant overpopulation will be taken care of by man or nature or both.

    • TnAndy says:

      Problems for them with going cashless:

      They will kill 20-30% of the economy that uses cash.

      Almost nobody is going to do a drug deal if it can be tracked. (maybe 10% of the economy). Imagine all the lawyers, courts, cops and so on that will lose ‘business’ if drugs are not sold !

      Far less folks will work ‘off the books’ if it can be tracked. I know LOTS of contractors with two prices….one for check, one for cash. That will knock down another 10-15% of the economy. Picture all the materials those guys buy to use in cash jobs….most of that goes away.

      Now picture all the ‘ripple’ effect of knocking out the above efforts….if you DON’T throw that stone in the pond.

      The money earned in the underground economy doesn’t go in a mattress…it goes back into the legitimate economy, and pays lots and lots and LOTS of taxes (sales, income/payroll taxes on the second/third/etc turnover, and so on.

      So by removing a private means of exchange (which is what cash is), you remove a lot of the incentive of people to use it….and thus, a fair chunk of the economy.

      So, tell me how they plan to solve that problem, and I might be inclined to agree with you.

      • Kulafarmer says:

        The arrogance of the people who think they are in power is mind boggling,
        They think the rest of us are just dumb hicks,
        I wont lose sleep when their arrogance and ignorance paints a target on their foreheads,,,

    • GrandpaSpeaks says:

      We Corzined some folks. Better keep hard copy records. And I don’t laugh because you pose a credible concern. I stand with those unwilling to submit and when barter is outlawed the clamp clangs shut. Until then when they say” how much do you say you had”? You just take what they offer. Nanny doesn’t like redress, it is not allowed post Constitution. “I see your name on several lists here, we have no records of your money your implant chip is corrupted, blame the EMP, next”.

    • old70 says:

      W&W,
      we barter, we trade skills, we’ll live in an underground society, it’ll be great, we’ll have nothing for anyone to want, just our homes and the cloths we wear, no laws, just a few simple rules to live by, break the rules and punishment will be swift and cruel, no TV dinners and a TV for the tax payers to take care of. no one trying to keep up with the Jones’s as there will not be any jones’s, no taxes of any kind till a group of people get together and decide they want power and we should have a law abiding society with bankers and lawyers trying to take everything we do have. I hope the people will have learnt a lesson by then and not have history repeat its self.

      • GrandpaSpeaks says:

        An indication of the helpless state of the present forces us to look into the future. Only through the control of greed and corruption will they quit shitting in the pantry old wise one. I have my doubts though, we couldn’t have been given a cleaner hand off than our Founders gave us. And still we fumbled. I see your after society heeds warnings and addresses root causes. “I’ll trade you two apples for that egg of yours. Of course they are GMO free. Hey wait a minute this egg is fertilized”. Our work is cut out for us. May you be correct that the epitome of man may be found in the aftermath. Aftermath, a suitable term for Banker caused Armageddon.

    • TEST says:

      Yup. 666 per the Book of Revelation.

  4. Soon your bank will be guarded by a tank. You, the yank, will feel the spank. You will do what you always do, piss off and wank. Some will get angry, and begin to shank. For all of this, there is only one person to thank.

    Yourself.

    • Genius says:

      That post stank. I don’t need no bank. They can walk the plank as I pay in coins that go clank. Many minds will go blank as they wonder how I rank. Because I thank of how to avoid this shank. When the printing presses cease to crank I will have covered my flank. The rest can look in the mirror 😛

  5. RICH99 says:

    Give me a break

  6. anon says:

    Excellent heads-up article, Mac.

  7. Northern Reb says:

    If it gets that bad that the banks are down and you can’t get your money. How much do you think that dollar will be worth?????
    It just might make good A$% wipe paper.
    S.T.S.F.P. N.Reb

    P.S. I don’t have enough in the bank to lose sleep over.

    • Sharon says:

      Take a look at situations like Katrina.

      People trying to flee the area or function afterwards were limited to cash only purchases because there were no card processing systems working, this was probably most evident at gas stations but I imagine it applied across the board to groceries and everything else. Those with actual cash could buy, those with credit and debit cards could not.

      There are very many different lessons to be learned by studying Katrina and its aftermath, most people aren’t even aware of them much less taking time to study and learn from them for their own future use.

      • laeagle says:

        Sharon,
        Thanks for the reminder. We are coming up to the tenth anniversary of Hurricane Katrina. I was there in the thick of it and my memories are still very vivid. There were no open gas stations or grocery stores. Except for several thousands die-hards the place was relatively evacuated. It was an amazing thing to see. Hundreds of thousands of homes and businesses evacuated and abandoned as police, national guards, and first responders combed through the deserted neighborhoods and set up check points. The stench of death and decay was everywhere, from rotting plants to dead animals. The brackish (toxic) water killed many living things. I remember stripping down to my underwear to get from point A to Point B as some of us had to wade through the waist to chest high flooded streets.

        My work done, I left the city of New Orleans that evening, 5 days after Katrina struck with only a few belongings, stuffed in a small bag, wearing disposable clothing after not showering for 5 days as a refugee not knowing where my family was or where I would be taken to. I had stayed with only one change of clothes and my home was about 15 miles away. I could not have driven out of the city and walking out would not have been a great option! Not that I did not consider or even try it. There was water every where but nothing to drink! It was hot and extremely humid. We were not prepared!!

        In spite of the many derisions, insults, and sour grapes, I personally want to thank President Bush, FEMA, and the generosity of the American People who reached out with generous assistance and saved us after an unimaginable calamity and helped us to rebuild our homes, neighborhoods, cities, and businesses. Thank you America! May God shed His Grace on Thee!

        Louisiana Eagle, Katrina Refugee and Survivor

        • celadinepoppy says:

          Amen, brother! America clearly needs God’s grace and there are some truly compassionate people here in this country. I remember the Walmart truck that tried to bring ice and water to the folks at the Superdome. Bush and the American people tried to help in many ways but it was Gov Blanco and Mayor Nagin that rejected all offers for outside assistance. What their agenda for rejecting the assistance is anyone’s guess…a social experiment perhaps…a chance to declare martial law in a large US metropolitan area… who knows???

          This certainly was a wakeup call for everyone living in this country, though. We now realize no one is immune to disasters. We all need to have personal plans for such events including one for a worst case scenario when and if you end up without money or supplies.

          Plan, prep, and pray. We will all need His wisdom and help if we are in such a situation.

  8. Roman Citizen says:

    As a small above the table legit business, I have to use the banks. I have paying customers that pay through direct deposit. Without them I don’t have a business. I have a savings account that the money is deposited into, I then transfer it to a checking account for paying bills and employees, to a debit account for purchases when a card is needed and to another savings account for paying taxes. All four accounts are with the same bank, same branch. Recently transfers over $5,000.00 have started to be scrutinized and have to be approved by the bank manager, even though I’m just moving money within the bank and not withdrawing it.

    I may have to change my moniker from Roman Citizen to Greek Citizen or Cyprus Citizen.

  9. talon1776 says:

    HAHAHAHA..TOO BIG TO FAIL???
    JUST WATCH HOW THEY ALL GO DOWN

    Live Free or Die…money is an illusion
    Talon1776

  10. Ass hat says:

    Crazy what the hell banks you guys using I don’t have that problem. I withdrew a sum of $ 5700 earlier this week they did not give me a second look. I showed my id that’s it I paid bills credit card that I used to charge thing on vacation. No big deal I just don’t see the problems with the banks here. I have heard of banks I other parts of he world pulling shit on their customers. It’s not happening here now but anything is possible. I’m not taking my $ out of the bank I think this is bad advise JMHO where are you gonna store it safely people especially large sums of cash. Your gonna keep it in your house that’s foolish to me. Sure stash a little $ but not all of it. Years back around here there was this thing called the banking crisis people went to the bank to get their $ and they were all closed by the governor some people never saw there $ again but at the time banks were not required to have FDIC to cover them after this debacle all banks had to have FDIC or NCUA deposit insurance. These country’s like Greece and cypress who knows if accounts are insured by law. Nobody will talk about this they just say your a criminal dealing with banks I think a lot of information is being left out with the intention of causing bank runs to bring banking institutions down and the economic stability of personal wealth. You can’t do anything about it really so take a vacation enjoy your life spend time with your family. This is what really matters you can make more $.

    • Frank Thoughts says:

      I think some of these people protest too much. I am also suspicious. I find banks fall over themselves if you deposit $100,000 or more. One Chinese bank will always pick you up at the airport in a limo and do all your travel arrangements.

      I think people run into problems if they have done things like default on debts or declare bankruptcy or default. This stuff gets in the databases and the banks will see you as a deadbeat and bad risk (most of the companies in this area are Swedish and they always remember your financial profile).

      I see things bifurcating: the bad risks will only be able to get digital services (mobile phone banking etc.) while those who have real wealth and are solvent, will get the executive service from the banks. Demographics now drive modern banking and the more a bank can present to investors profile data that shows their customers are high-net worth individuals, well educated, high-end consumers, the better the quality of investments they will get. They will want to get rid of the people who have no savings and no prospects.

    • watching and waiting says:

      Suitable advise. I don’t have that problem with my bank neither. But, in the future, I believe paper napkins will be more valuable that paper money. Also, large amounts of money in your home just increases the chances of home invasions. people just don’t know how to keep their mouths shut.

      we are on the edge of change.

    • Nick L. says:

      Store money in your home in the form of large bank boxes of nickels. Given the metal content of US nickels (75% copper and 25% nickel), the coins may one day be worth more than their $.05 face value.

    • VALKYRIE says:

      Another DUMBASS DRUNKEN HILLBILLY falls off the Jethro Pew!!! DOH!!!

    • VALKYRIE says:

      Wow! You sure named yourself Right! I worked at a casino for years and every employee is trained to keep it on the downlow! Not tell Customers when and if they are being tracked! SARS! You are a bigger Dope than your post implies!!! Bank tellers are trained in like manner!!! Good Luck Ass hat!!!

  11. Them Hogs says:

    I got a whole truck load of crap from folks last week for suggesting this, but besides gold/food/ammo etc., I’m putting some of my extra cash into extra guns. My idea is when the SHTF, it will be one of the many important items that people will want.

    Life is full of risk, no risk/no reward.

    Watch out fur them hogs!

    • talon1776 says:

      Perhaps a crate of Mosin Nagant 91/30’s?…and a spam can of 440 rounds?

    • Genius says:

      Well hog, I could use some fertilizer. You can drop your crap off here 🙂

    • solus lupus says:

      got guns?

      funny thing is guns have proven to be a very good investment since 2008. i bought a medium quality spare for each of my higher quality guns over the period of a year back in 2008/2009.

      And they have all increased in value by 20% or more since then, while my pm investments have lost 40% of their value.

      so buying or even manufacturing your own non-serialized guns is not a bad idea at all.

    • watching and waiting says:

      That is a good idea. I decided not to invest in so many different calibers but to streamline my personal/family protection plan.

      Extra guns of the same caliber is good way of having spare parts if a weapon becomes unusable. yes, you can have spare parts but we are speaking about a situation that could last years, not weeks.

      For example, if I had a lot of .45 for a pistol, I would buy a .45 cal carbine, hi-point or such if the pistol became dysfunctional.

      Just my opinion……each his/her own

      • Ben Raines says:

        I agree you, W&W.

        My streamlined plan is 5.56, 9mm, .22, and 12 gauge. I still have a bunch of off caliber items, though. I just choose not to load up on a shit ton of ammo for them.

        I imagine a nearly new Winchester or marlin 30-30 with a couple hundred rounds would maintain some value in the future.

    • Wee Liam says:

      A case of can openers for barter ain’t a terrible idea.

  12. Satori says:

    in virtually every type of WTSHTF situation
    it all boils down to two things

    food and water

    Survival in Venezuela: The constant struggle of finding Food

    http://ferfal.blogspot.com/2015/03/survival-in-venezuela-constant-struggle.html

  13. Ass hat says:

    Love the mosin they selling for around $150 for $600 you can get 4. You can’t get 1 ar15 for that shit buy a couple extras and hide em if the gun grabbers ever succeed your still good. Funny the Bank of America near me has an armed guard out front everyday but no one else does only BOA I don’t use them if I had $ in the id move it to another bank. They probably have serious problems and want to intimidate customers before bank runs start. All the Bank of America branches in the city or town center areas have guards open carrying out front of the branch. I’ve wondered if this is to desensitize people to security forces being around but this all started about a year or so ago. The bank will protect their interest. This is one of the banks that got bailed out I don’t think there were any others around here that did.

  14. Brent H says:

    =====================================
    HOW TO OPERATE YOUR OWN PRIVATE BANK
    =====================================

    1) Get a big-a$$ gun safe and call it your private bank.

    2) Store your real money (gold, silver) in your private bank.

    3) Store your fake money (FRNS) in your private bank.

    Take your fake money out of someone else’s bank ATM every once in a while.

    Deposit real and fake money in your private bank whenever you please.

    Withdraw real and fake money out of your private bank whenever you please.

    This works pretty well for me…

  15. Spook89 says:

    I remember my grandfather telling me that during the Great Depression, most folks liked to bury their money (when they had any), rather than trusting banks. Looks like things have come full circle.

    • GrandpaSpeaks says:

      I was five years old while listening to my own grandfather rant one day. He was telling about the time he had gold coins secretly deposited in his safety deposit box at the bank. That the bank and even Grandma didn’t know about them. And then Roosevelt had them seized. My grandfather went to his grave blaming the person who opened his safety box and grabbed his gold accountable and not Roosevelt so much. Gramps knew where the break down lie and he died dearly wanting to hold the grabber personally accountable. I learned a lot from that rant. That “just doing my job” wouldn’t cut it as an excuse and to cross that off my list of excuses. It took me longer to realize that excuse does not trump duty. And that is why Gramps was so scary that day.

  16. solus lupus says:

    “the easiest way to rob a bank and get away with it … is to own one!”

  17. Mountain says:

    After B of A screwed me over back in 98′, I pulled all of my money out of the bank. I opened a new checking account to deposit a couple of monthly bills into, or when I need to order something online quickly. I never have more than $10 at a time in here on a monthly basis.

  18. Mr Smith says:

    if you trust you bank to old in to your cash when they are paying zero intrest on the money then good luck to you if you don’t trust yourself.

    My gold has paid me nice interest since i opted out of the bankers double game.

  19. swinging richard says:

    One day you will hear of a poor bank teller harmed because they would not honor a request by a customer to withdraw funds.

  20. Steve in Ramona says:

    Off topic..

    I have solar on my house but it only makes power if it senses utility power. Meaning if the utility power fails my solar shuts off.

    I have read about inverters using batteries you can make to create power to fool your solar inverter into sensing power so it will continue to make power.

    Anyone know where I can get the plans for one of those?

    • Roman Citizen says:

      Steve I have solar panels set up with charge controllers, batteries and inverters. I don’t have the knowledge to wire it into my home. I have a sub panel connected to the main breaker panel for my generator. I tried to connect my inverters to the sub panel, there’s a grounding conflict that I haven’t yet been able to resolve.

      With the solar system that you have, I can only imagine the problem will be even greater. I would bet it would be something like having to switch off access to and from grid power before your solar regulator and set up a switch box that then can energize the regulator with your battery bank. Also, doesn’t the solar system you have back feed the excess solar power back into the grid, what will that do to your battery bank?

      I’m not a sparktrician and the few I know don’t know solar, charge controllers or inverters.

      • Genius says:

        Roman, many modified sinewave and some pure sinewave inverters will not work and possibly burn them up if they are connected to a panel that has the ground and nuetral tied together. Most homes have a neutral/ground tie in the main panel. If your inverter is not setup for this you would have to seperate the ground from the neutral before connecting. Also don’t ever use the inverter and generator at the same time and do not let any power backfeed into the inverters output. Try making a seperate circuit for your backup power and do NOT tie the neutral to the ground. Hope this helps..

    • Genius says:

      Steve, They have that feature for a reason. If the power goes out and the workers are trying to fix the lines and you are putting power out on the grid it could zap them. If you got caught doing that you would be in a world of shit bigger than you can imagine. The feature is called anti islanding and every grid tied inverter MUST have it.

      As far as battery backup grid tie inverters, many companies make them now. Some have a feature that doesnt require batteries but will supply power straight from the panels as long as you have sun. As for tricking your inverter to continue producing power in an outage I would advise against it. If you did do something like that you had better shut off your main breakers so you aren’t connected to the grid in any way first.

      They also make charge controllers that will take up to 600 volt input from your panels and convert it to whatever your battery bank is. You could switch your panels output over to the controller and use a seperate offgrid inverter and run that power to a stand alone circuit (not tied to the main panel) to run things in an outage. A good place to look at inverters or call with questions is windsun.com . Please don’t do anything that will get you sued or worse…

    • TnAndy says:

      Steve,

      Outback (for example) makes inverters that operate on, or off, grid, and produce grid quality (actually often better) power.

      You could combine the use of such inverters with battery backup to make all your grid tie inverters ‘think’ that grid power was still being supplied, BUT you’d have to do some major rewiring to pull it off. There are no ‘plans’ per se…..you’d have to have a fair working knowledge of electrical wiring to do it.

      I have an 11kw system. 6kw of it uses Outback inverters (2), charge controllers (3), and a 1200 amphr@24v battery bank. This is normally grid tied, but if the grid goes down, the inverter contacts open to quit feeding the grid (to meet UL1741 standards preventing backfeeding), but ANOTHER set of contacts close, diverting the inverter power to my transfer switch, and on to a subpanel of my critical circuits (lights/refrigeration/etc).

      The remaining 5kw (added later) I used Enphase microinverters to simply feed back to the grid.

      Assuming the grid were going down and not likely to come back, I would rewire that last 5kw into the Outback system so the Enphase units would ‘sense’ grid power, and continue to supply us with power when the sun was out.

      But there is no advantage to doing that unless the grid IS down and not coming back….since with a grid tie only system, you are, in effect, using the grid as your storage….getting credit for it on your meter.

      • Genius says:

        TnAndy, Sounds like a great system! I used a similar setup a while ago where I had 2- 100 amp dual contact knife switches to switch the power from the panels to either the grid inverter or to a mppt charge controller. The controller charged a small battery bank with it’s own off grid inverter that I could use with its own circuit to provide backup power. I found it to be an efficient way to utilize the panels. All the panels were fed to grid tie except once in a while to keep the batteries topped off. Kind of a poor mans way of doing it but it worked.

  21. Robbie41 says:

    Don’t forget about the New bank Bail-in Rules, that were put into place on Nov 16,2014 .Because YOU have NO IDEA / CLUE, that YOUR MONEY in the BANK, is no longer YOURS & will be GONE.

    1. $18 =TRILLION DOLLAR DEFICIT

    2. THE ENTIRE GDP OF THE UNITED STATES= APPROXIMATELY $20 TRILLION DOLLARS

    3. THE ENTIRE GDP OF THE PLANET EARTH= APPROXIMATELY $65 TRILLION DOLLARS

    4. $240 =TRILLION DOLLAR UNFUNDED LIABILITIES

    5. THE ESTIMATED DERIVATIVES DEBT= $1.5 QUADRILLION DOLLARS

    6. THE ANNUAL TAX REVENUE COLLECTIONS BY THE IRS= $2 TRILLION DOLLARS = (YEARLY)

    UNEMPLOYED AMERICANS OUTNUMBER EMPLOYED AMERICANS!

    WE ARE IGNORING THE BANKSTER ELEPHANT IN THE ROOM..
    FOOD, WATER, & MEDICAL SUPPLIES.. —-PRICELESS..

    I did MY homework, & tried to find the TRUTH, How about YOU..

    https://www.popularresistance….

    http://sandiegofreepress.org/2

    https://projectchesapeake.word

    http://usawatchdog.com/big-ban

    http://truth-out.org/news/item

    http://www.thecommonsenseshow….

    http://www.thecommonsenseshow….

    http://www.thecommonsenseshow….

    http://www.thecommonsenseshow….

    http://www.thecommonsenseshow….

    http://www.thecommonsenseshow….

    http://www.thecommonsenseshow….

  22. From the book “I Plan To Survive” The Ultimate Home Survival Guide.
    A lot of people are buying gold and silver, but you have to think just what will you be buying with your gold and silver in a total SHTF scenario? Beans, Rice, Ammo, Water filters, First Aid supplies etc. I bet you can buy these things NOW a whole lot cheaper than with your gold and silver in the future. Stock up NOW for use in the future. A 20 lb. bag of beans may cost you a 1 ounce gold coin in the future but when you go back to buy beans again now it will be a 10 lb. bag of beans for that same gold coin.
    Forget bars, foreign coins buy ONLY American coins and forget Gold only buy American junk silver coins. Pre 1965 coins as everyone recognizes them as silver, so therefore valuable. Who knows about a foreign coin it could be plated. And just in case your silver goes to $2,000 an ounce you will be better off buying silver American dimes pre-1965 as they are 90% silver and every one knows this. Remember silver dollars are now faked so in the future people may not take these silver dollars being afraid they will be fake. But NO ONE fakes the lowly dime. Also if silver goes to $2,000 your one single dime will be worth $166 that will be much easier to barter and buy stuff with than say a silver dollar or a silver bar. And it will give you less change which will probably be worthless paper.
    For this and more tips see: http://www.iplantosurvive.info

  23. guest says:

    “What a lot of people don’t realize is that banks are already unpaid government spies.”

    The 5th Plank is an organ, vital to every state. Of course, they are paid.

    “I am a sole proprietor with a small business and have my income direct deposited into my checking account…”

    Into whose account? Pedantically speaking, business and personal funds are expected to be kept separate.

    Ideally though, the bank is an amoral exchange, completely ignorant.

    I don’t mean to give mindless, quota case clerks the color of authority, but many of these business owners aren’t observant of the technicalities or etiquette of the institution.

  24. TEST says:

    For your reference:

    “If men … give up any essential natural right, the eternal law of reason and the great end of society, would absolutely vacate such renunciation; the right to freedom being the gift of God Almighty, it is not in the power of Man to alienate this gift, and voluntarily become a slave.”

    –Samuel Adams, Rights of the Colonists, 1772

  25. nlightened2 says:

    “He causes ALL, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or[a] the name of the beast, or the number of his name.
    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.”
    Revelation 13:16-18

    My bank is begining to treat all of its customers as potential bank robbers buy forcing us to remove our hats and/or sunglasses for the cameras or you recieve no service. understand that the transition to a cashless society will be painfull and most Christians will fall by the wayside than to be hungry. Incrementalism is the road that leads to the ‘End Game.’

  26. Nickname says:

    Amazing. Bank complain when they get robbed, but when they rob you it’s OK.

  27. Useless Eater says:

    Know Your Customer?
    Time to make banking “customers” an extinct species and blame it on Global Warming.

  28. Anonymous says:

    Bitcoin can help here.

 

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