Said it else where! Get all you have earned in hand, you may very well loose it if it's in some Zionist bank. This is no time to trust a Scumbagg at any level. Bankers are scum!
I pull all my wealth from from banks. Again..............this is not not the time to trust a broken assed system!!
I would do just that - but where to put it? I favour gold but here in Ph is not a good buy/sell spread and I am not sure I would trust the gold I received. In the UK I held sovereigns bought from a reliable dealer and sold them just before I came here as I did not trust immigration (if they can put bullets in they can take valuables out). But whatever I decided to do, the main issue is that my unsecured loans are in the banks' hands and they don't want to let go - as many people are now finding out. I stopped doing the UK lottery via friend because if ever I won a substantial amount I could see a huge struggle to get it out of the banks to here. Then there is the issue that other investments I have were made by deposits from my banks - and they would want to put those back into the same banks! So I close my banks and the money invested elsewhere will be a struggle to get back. It is so much more difficult as an ex-pat.
Actually the internationl laws are like this if a bank is bankrupt: Securities in a securities custody account: securities (stocks, bonds, funds, certificates, etc.) in the securities account are held in safekeeping by the bank, but they are the property of the client. In the event of a bankruptcy, they are issued to the client. Furthermore in the Philippines the deposits are insured up to 500.000 Pesos through the PDIC in a such bankruptcy. Now the bad news, this is how it is supposed to be. As we all know, in this country the law or rules exists sometimes only theoretically. Gesendet von meinem M2101K6G mit Tapatalk
Correct, but none the less. My Wife and I did liquidate and pulled cash paper from accounts and is secured in our home. Have no worries on being robbed of it. We have CCTV, all grills, 3 locks per door and as my Enemy.....I eat People but do prefer to set them a-blaze! Again.......... do not mean to create paranoia but c-mon Peeps if it is your Money, get it in hand now, sooner than later! Bank closures and economy U turns, currency manipulation is out the roof and un-predictable!
Err, no. Each and every issuer/ exchange uses the services of a centralized securities depository (CSD). Transactions are registered through ledger entries, not by physically moving paper securities. Also, a fast growing number of securities are actually issued in digital form, not on paper. Often the CSD isn't the only service provider involved, in most countries there are multiple "custodian banks" and "clearing houses" that play a role also. So no, even if your bank offers securities accounts to their customers it is highly unlikely they will ever physically hold the securities that their customers own, possibly with the exception of registered shares (as opposed to bearer certificates).
One problem with that is that money printed here will probably fade soon - try spending your blank paper! Just joking Mr Head. But one concern about paper money is the loss of any interest forever and the danger that a government can abolish a particular denomination (usually high value ones) at any time they wish - and some governments have done that overnight. The holder then has to go to a bank and exchange the notes - fine if it's a few thousand but a man of your standing will undoubtedly have so much in notes that you will have a light shone in your face and toenails ripped out until you can explain it to their satisfaction. But on principle I agree with you - banks are the shittiest place to deposit our money.
I'm not one to trust that every government will honour deposit insurance schemes - this is based on the fact that the majority of people don't have enough to wipe their bums with and so will care little for those who have. So a government is not going to lose power because they paid say 25% or 50% of what they 'promised' to the 'wealthy' - with perhaps a minimum to ensure the poor don't complain. I could see a guarantee of say the equivalent of 100k USD being paid out as up to 10k plus a small % of the rest, thus keeping the poorer depositors happy. It is usually just stating they will cover deposits that reassures people enough - but if many depositors try to withdraw everything from their banks then the doors will be locked, the window shutters come down and the bank manager will retire abroad. Governments have survived to date by printing money but that will not work for all countries and may eventually fail in those who have used it to date. The writing is on the wall but we are not close enough yet to read it - we just have a fair idea of what it says!
