Nationalization Of USA Banks
Faced with a freefall economy we could see nationalization of the banks starting to take place this week. Does this bother you?
Moderator - Most people don't realise it, but the economy is already in a lite depression.
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---mima on 3/9/09
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A Government of the people, by the people, and for the people... Hey didn't the majority of our nation vote for "change"? From each according to his ability and to each according to his need (as dictated by the government). Change the balance of control. Change the holdings of money. Change control of the major corporations from CEOs to government czars. Change the free economy to a national economy. Change the freedom to protect one's property into it's the government's property.
Wow, didn't that happen in Germany before?
---mikefl on 4/1/09|
When one figures out that a debt-backed, fractional-reserve fiat currency ain't "real" money, banks become pretty much irrelevant.
The Federal Reserve System (FED--privately owned central bank), in collusion with the US Treasury, confiscated ALL the "real" money of the people (gold) back in 1933. And Nixon drove the final nail in the coffin of the US Dollar in 1971, by crushing Bretton Woods.
There's an old adage... He who has the gold makes the rules. Since the FED has well over 5,000 TONS of gold in their vaults, I think that pretty much tells ya who's makin' the rules.
All my "scrip" (look it up) is in a local bank with all 5 branches within a 25 mile radius.
---BruceB on 3/16/09|
Doesn't anyone, anywhere, read the US Constitution?
When were Article 1, sects. 8 & 10 amended to allow the "government" to use anything but gold and silver coin as tender in payment of debt? Or for the Congress to hand over authority for coinage and its valuation to the Executive branch? (see: PL73-1 [Emergency Banking Relief Act] and PL73-10 [Agricultural Adjustment Act], 1933)
No wonder the country is in the mess it's in... beside having given up on God, which is the cause of all the other maladies.
Since we don't read the Bible--why bother with the Constitution, either?
---BruceB on 3/16/09|
I belonged to Bank of America for yrs until about 15 yrs ago when I found out that the Bank of America is owned & operated by Rome, No Kidding, I even ask the pres of the bank if that was true, he said yes in a half hearted way(kinda,sorta, ect. ect.)
I go to the Well's Fargo Bank too.
---Duane_Dudley_Martin_Jr. on 3/16/09|
I would advise banking with Wells Fargo since they are listed in the 10 most sound banks of the world, and the only U.S. bank that is on this list. If you live on the east coast like I used to you will be unable to.
---Anne on 3/16/09|
Catherine & Augie: God (THE CREATOR) is indeed Almighty (All-Powerful, "IN CONTROL" :) & Satan (a wicked, fallen creature) can only operate in the world within the confines (limits) of what God gives him permission to do.
"The earth is the Lord's, & the fulness thereof, THE WORLD, & they that dwell therein..." (Ps. 24:1)
---Leon on 3/14/09|
Moderator, Catherine, 1st Cliff:
Thank You for your input to this blog.
I agree that the economy is in somewhat of a "depression". I think that the signs are all around us: job losses, foreclosures, business failures, etc.
Yes, the Bible says that this world is Satan's. However, he can only do what God PERMITS him to do. Seeing the results of sin and the results are sometimes unbearable. ALL people must CHOOSE between serving God and serving Satan. ALL of us. Romans 8:28 says:
"And we know that all things work together for good to them that love God, to them who are the called according to [his] purpose."
---Augie on 3/13/09|
Mike-- How do you regulate "greed"? One thing I know...no "free market" person or business holds on to money out of greed. They realize that the only way to make MORE money is to "invest" it in something that will increase in demand or value.
---Donna66 on 3/12/09|
1 John 5:19..."We know that we are of God, and that the whole world lies in the power of the evil one". The whole world belongs to Satan. The world follows after the evil one. God is in full control of the evil one, and in matters pertaining to the world, in the world, same as in heaven. Satan nor his people can do nothing except what GOD ALLOWS them to do. And same goes for God's people. God is all-powerful, all-knowing. Satan is none of those things. God created and owns everything. I will go a bit further in saying, "Whatever God allows or do not allow, it will ultimately be for His GLORY" and for His honour.
---catherine on 3/12/09|
Augie, Your statement that "God is in control"(shared by most fundamentalists) is flat out wrong!
1Jn.5.19 "the whole world is under the control of the evil one" NIV
Sickness,famine,wars,earthquakes,tornadoes etc.etc...financial collapse..NO
NO! God is in control WHEN Jesus takes His place as King of the Kingdom,not before!
---1st_cliff on 3/11/09|
You should be worried,
nationalizing the banking system is the 1st step towards Socialism, Man, i hope all the people that used to jump on Bush Admin. for deminishing our rights do the same to the Obama Admin., This is a joke, and the World IS laughing at us, China, Russia, N Korea, Iran, even the British think were a joke after giving there PM a 26 DVD set at his visit to the White House and Pres.Obama demanded that the PM take back the bust of W. Churchill that was given to pres. Bush just after 911, HOW RUDE!!!!
We are a JOKE!!!!
---Duane_Dudley_Martin_Jr. on 3/10/09|
Q. What does "nationalization" mean?
A. Nationalization is when the government takes 100% ownership, wipes out the shareholders & runs the bank.
The U.S. Government historically seizes troubled banks all the time. During the last banking crisis ('89-'92) it seized 1,368.
Our government won't let "big banks" fail. Rather, it will boost their capital by buying preferred stock that'll pay 9% dividend. If a bank has trouble paying the dividend, it can convert the preferred shares into common stock. So, the weakest big banks could end up with the government as their largest shareholders. That's not nationalization!
---Leon on 3/10/09|
the real problem was easy credit for millions that went south.banks ,mortgage companies have so much bad assets from the epidemic of bankruptcy and foreclosure.one small town here has nearly 40 percent forclosure percentage,and this is normal throughout many places here.bad investments in the realty market,and the trickle affect started once a vast number of people were in over their heads.
---tom2 on 3/10/09|
Thank you Mike for explaining it! I kinda agree with what you said. A.
---catherine on 3/10/09|
It don't bother me. I don't know anything about it!
---catherine on 3/10/09|
it is not nationalizing the banks but more regulations to prevent greed, corrupt CEOs that destroyed the economy of the US.
these CEOs know how to get rich in the name of 'free market'.
this started with the bush administration. using fear to get a 'bailout' but he is for 'free market' economy. money cannot circulate when a few of the money is held by greedy CEOs.
---mike on 3/9/09|
No, the nationalization of the banks doesn't bother me. Why not? Because my trust is in GOD.
I know from reading the Bible that GOD is in control. I'm always amazed that he is always willing to give us yet another learning experience. This time, it will be learning about how we got ourselves into this economic mess and how to prevent it all from happening again.
The United States went through a similar learning experience back before the Great Depression struck. It looks as though we didn't learn as much as I once thought we did. The same old problems seem to have crept up on us. Along with newer onces.
If the bank are nationalized, it will be for a good reason. In the end, will we have learned what we should?
---Augie on 3/9/09|
Donna:- I could not agree with you more after all when we consider the Fact AS ALL everything (Psalm24:1-2repeated in 1 Cor 10:26) belongs to God all he asks for is a tithe=10% I believe that this Global recession I a rebuke and reminder For our failure to comply with this order.
---MIC on 3/9/09|
Don't store up your treasures upon earth where moth and rust destroy.
I could care less what happens to the world system banks formed by man and controlled by man. We dwell in the secret place of the Most High God, and abide under the Shadow of the Almighty.
If people would do things God's way and give their tithes and offerings into the Kingdom of God, God's return is a hundredfold. Is that much better than what the stock market is offering? or any bank?
Give and it SHALL be given unto you, good measure, pressed down, shaken togeter and RUNNETH OVER - do we not believe God will do this for us if we give into HIS Kingdom instead of the worldly kingdom on this earth?
---donna8365 on 3/9/09|