Day: September 3, 2016

There is approximately $17 trillion sitting in retirement accounts, 401ks, and pensions.  Sources of liquidity of such magnitude are certainly at risk in the face of the upcoming financial crisis.  The U.S. government, its central bank, and its entire financial and banking system are about to face a massive shortfall for cash.   In 2008 the bailout required via TARP was $700 billion, and estimates of backdoor easing and bailouts are in the tens of trillions, or more, not to mention the confirmed and admitted trillions in Federal Reserve off balance sheet transactions. This time the bubble is many multiples …

Hugh, August proved to be an eye opening experience regarding “Big Brother” and the banking system. We recently sold our home in a large metro area to move to our own redoubt in an adjacent county. During the underwriting process for a mortgage, the banker asked which bank has the money we identified as savings? Our savings was in physical cash, however, the bank underwriters won’t accept this when applying for a mortgage. The mortgage originator instructed us to get the money in our checking account. We proceeded to deposit cash every few days for a month. A couple of …