The Money in Banks

Mar 27, 2010
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Florida
One of the members in a forum put up a interesting post...

'Every night banks have to check their cash reserves and if they do not have enough to cover their expenses they are not allowed to open the next day..... to insure everyone is ok there are banks that loan banks enough daily loans that they pay back after opening to keep things going on....

Thursday night at midnight the Federal Reserve loaned the banks that make these loans 500 billion dollars.... literally nothing of this magnitude or even close to it has ever happened in the long history of fractional banking.... its a serious sign that something very serious is wrong...

Like toilet paper, cash will not be available to everyone should we all panic and want money at the same time.... worse than that the banks really don't have to give you the money in your account if they don't have it go give..... the money you have in your accounts is a debt the bank has..... but the actual money there belongs to them according to the law.

You are right... there is a lot more wrong than a virus here and the virus may well push the other problems over the cliff.' https://www.thebalance.com/reserve-requirement-3305883

I just finished putting up solar panels for the house with some money I received. I now understand why God led me to do that and not store it in the bank.
 
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Sep 3, 2009
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One of the members in a forum put up a interesting post...

'Every night banks have to check their cash reserves and if they do not have enough to cover their expenses they are not allowed to open the next day..... to insure everyone is ok there are banks that loan banks enough daily loans that they pay back after opening to keep things going on....

Thursday night at midnight the Federal Reserve loaned the banks that make these loans 500 billion dollars.... literally nothing of this magnitude or even close to it has ever happened in the long history of fractional banking.... its a serious sign that something very serious is wrong...

Like toilet paper, cash will not be available to everyone should we all panic and want money at the same time.... worse than that the banks really don't have to give you the money in your account if they don't have it go give..... the money you have in your accounts is a debt the bank has..... but the actual money there belongs to them according to the law.

You are right... there is a lot more wrong than a virus here and the virus may well push the other problems over the cliff.' https://www.thebalance.com/reserve-requirement-3305883

I just finished putting up solar panels for the house with some money I received. I now understand why God led me to do that and not store it in the bank.
Yes I agree that something is going on. IMO it is outright PANIC over the unknown.

The news media has blown this way out of perspective.

Do people get sick when exposed? YES.
Do people die from this virus?...……….YES.

Did people get sick during the swine flu out break? YES.
Did people die from the swine flu...…………………………..YES.

Did people get sick during the bird flu? YES.
Did people die from the bird flu? YES.

Did people get sick in the H1N1 flu outbreak? YES.
Did people die from the H1Na flu? YES?

Do people get sick when exposed to the normal flu? YES?
Do people die from the normal every year flu outbreaks? YES?

10,000 American have died from the normal flu this year and 50 from the Corona virus. So then WHY is the PANIC so bad today??????????

“The antidote to fear and uncertainty is transparency and timely, accurate information from reliable sources,” writes Dr. Robert Bartholomew in Psychology Today. “The problem with this strategy is that we are living in an age of government and media distrust.”

For way to long our politicians have lied to us to gget elected and stay elected and now we do not trust them.


 
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rtm3039

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Yes I agree that something is going on. IMO it is outright PANIC over the unknown.

The news media has blown this way out of perspective.

Do people get sick when exposed? YES.
Do people die from this virus?...……….YES.

Did people get sick during the swine flu out break? YES.
Did people die from the swine flu...…………………………..YES.

Did people get sick during the bird flu? YES.
Did people die from the bird flu? YES.

Did people get sick in the H1N1 flu outbreak? YES.
Did people die from the H1Na flu? YES?

Do people get sick when exposed to the normal flu? YES?
Do people die from the normal every year flu outbreaks? YES?

10,000 American have died from the normal flu this year and 50 from the Corona virus. So then WHY is the PANIC so bad today??????????

“The antidote to fear and uncertainty is transparency and timely, accurate information from reliable sources,” writes Dr. Robert Bartholomew in Psychology Today. “The problem with this strategy is that we are living in an age of government and media distrust.”

For way to long our politicians have lied to us to gget elected and stay elected and now we do not trust them.
Here in South Florida, we have "hurricane kit" what includes a couple of thousand dollars in cash and, in my case, a great deal of ammunition. With this season, there really would be no place to run to. Yes, some states have reported new numbers, but all 50 states have cases.

Statistically, at least as of today, the odds that you will die from the flu is much greater:

flu 2020.JPG

I am not going to blame the media for the panic, as they merely pander to what people want to watch. I think my total media watching time this weekend has been, maybe, 30 mins and that was to watch our school superintendent call off schools. I would rather read my news and select my own sources. Even then, it's difficult. I just noticed that the numbers being reported by the CDC and the numbers being reported by the Florida Department of health and not the same. The CDC claims 76 in Florida and our Health Department claims 100.

The fuel to this fire is the unknown. It is all emotional and not driven by logic. We are reaching the 3,000 mark (probably already have), which pales in comparison to the 36 - 51 million with the flu. We have had 57 deaths (as of 3:33 AM), which pales in comparison to the 22 - 55 thousand that have died from the flu. Both one of my co-workers and a member of my church's security team had been tested and both have the flu.

We fear nothing more than the unknown and this is as unknown as can be. Some "experts" claim that close to 60% of our population might catch this, but it is just a guestimate. Having said all that, what are we to do?

Well, the problem is that perception is more realistic than reality. The whole country is riding the panic train and the rest of us have no choice but to go along for the ride. I have not a single clue why there is a mad rush for toilet paper, but we did go out and buy 24 rolls. I do not like that our church is not having live services, but I was a loud advocate for closing it. I am comforted by Matthew 6: 25 - 34, but we still have to take appropriate measures until we know where we are headed.

25 “Therefore I tell you, do not worry about your life, what you will eat or what you will drink, or about your body, what you will wear. Is not life more than food, and the body more than clothing? 26 Look at the birds of the air; they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they? 27 And can any of you by worrying add a single hour to your span of life? 28 And why do you worry about clothing? Consider the lilies of the field, how they grow; they neither toil nor spin, 29 yet I tell you, even Solomon in all his glory was not clothed like one of these. 30 But if God so clothes the grass of the field, which is alive today and tomorrow is thrown into the oven, will he not much more clothe you—you of little faith? 31 Therefore do not worry, saying, ‘What will we eat?’ or ‘What will we drink?’ or ‘What will we wear?’ 32 For it is the Gentiles who strive for all these things; and indeed your heavenly Father knows that you need all these things. 33 But strive first for the kingdom of God and his righteousness, and all these things will be given to you as well. 34 So do not worry about tomorrow, for tomorrow will bring worries of its own. Today’s trouble is enough for today" (Matthew 6: 25 - 34, NRSV)
 
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Sep 3, 2009
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Here in South Florida, we have "hurricane kit" what includes a couple of thousand dollars in cash and, in my case, a great deal of ammunition. With this season, there really would be no place to run to. Yes, some states have reported new numbers, but all 50 states have cases.

Statistically, at least as of today, the odds that you will die from the flu is much greater:

View attachment 4578

I am not going to blame the media for the panic, as they merely pander to what people want to watch. I think my total media watching time this weekend has been, maybe, 30 mins and that was to watch our school superintendent call off schools. I would rather read my news and select my own sources. Even then, it's difficult. I just noticed that the numbers being reported by the CDC and the numbers being reported by the Florida Department of health and not the same. The CDC claims 76 in Florida and our Health Department claims 100.

The fuel to this fire is the unknown. It is all emotional and not driven by logic. We are reaching the 3,000 mark (probably already have), which pales in comparison to the 36 - 51 million with the flu. We have had 57 deaths (as of 3:33 AM), which pales in comparison to the 22 - 55 thousand that have died from the flu. Both one of my co-workers and a member of my church's security team had been tested and both have the flu.

We fear nothing more than the unknown and this is as unknown as can be. Some "experts" claim that close to 60% of our population might catch this, but it is just a guestimate. Having said all that, what are we to do?

Well, the problem is that perception is more realistic than reality. The whole country is riding the panic train and the rest of us have no choice but to go along for the ride. I have not a single clue why there is a mad rush for toilet paper, but we did go out and buy 24 rolls. I do not like that our church is not having live services, but I was a loud advocate for closing it. I am comforted by Matthew 6: 25 - 34, but we still have to take appropriate measures until we know where we are headed.

25 “Therefore I tell you, do not worry about your life, what you will eat or what you will drink, or about your body, what you will wear. Is not life more than food, and the body more than clothing? 26 Look at the birds of the air; they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they? 27 And can any of you by worrying add a single hour to your span of life? 28 And why do you worry about clothing? Consider the lilies of the field, how they grow; they neither toil nor spin, 29 yet I tell you, even Solomon in all his glory was not clothed like one of these. 30 But if God so clothes the grass of the field, which is alive today and tomorrow is thrown into the oven, will he not much more clothe you—you of little faith? 31 Therefore do not worry, saying, ‘What will we eat?’ or ‘What will we drink?’ or ‘What will we wear?’ 32 For it is the Gentiles who strive for all these things; and indeed your heavenly Father knows that you need all these things. 33 But strive first for the kingdom of God and his righteousness, and all these things will be given to you as well. 34 So do not worry about tomorrow, for tomorrow will bring worries of its own. Today’s trouble is enough for today" (Matthew 6: 25 - 34, NRSV)
Ray.....I am not a prophet or the son of a prophet. My dad was a pistol so I guess that makes a son of a gun.

But.....I am not a conspiracy person in any way, however, it does not take my doctorate to see and grasp something very obvious.

The liberal left of our society hates President Trump. They have said that they will do anything to remove him from office. The man that the American people elected was impeached over a telephone conversation which says to me that they tried to do exactly what they said they would do.

Now IMHO, there is only one way that President Trump will not be reelected and that is if the economy tanks severely which it seems to be happening in front of our eyes. IT seems to me that the liberal, hate filled people are exaggerating this virus to promote financial problems so as to give them a chance to elect Mr. Biden.

YES......I know how stupid that sounds, and it bothers me greatly to even post this thought, but do you have a better explanation?????

YES the corona virus is bad, but only 67 people has died in the USA this year compared to 10,000 who have died of the plain old yearly flu we get every year. WHY is there so much concern over this particular virus unless some people see it as a vehicle that they can use to accomplish their goal of removing the President.

I am now hearing that the gathering of 25 people will be announced. That means almost all church services will be canceled. That is very troubling to me.

The members of my church called me all day Friday and Saturday demanding that we have our normal services and 75% of them are 60 and older.
They told me that if the church was not open they would still come and sit in the yard in lawn chairs.
 
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rtm3039

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Ray.....I am not a prophet or the son of a prophet. My dad was a pistol so I guess that makes a son of a gun.

But.....I am not a conspiracy person in any way, however, it does not take my doctorate to see and grasp something very obvious.

The liberal left of our society hates President Trump. They have said that they will do anything to remove him from office. The man that the American people elected was impeached over a telephone conversation which says to me that they tried to do exactly what they said they would do.

Now IMHO, there is only one way that President Trump will not be reelected and that is if the economy tanks severely which it seems to be happening in front of our eyes. IT seems to me that the liberal, hate filled people are exaggerating this virus to promote financial problems so as to give them a chance to elect Mr. Biden.

YES......I know how stupid that sounds, and it bothers me greatly to even post this thought, but do you have a better explanation?????

YES the corona virus is bad, but only 67 people has died in the USA this year compared to 10,000 who have died of the plain old yearly flu we get every year. WHY is there so much concern over this particular virus unless some people see it as a vehicle that they can use to accomplish their goal of removing the President.

I am now hearing that the gathering of 25 people will be announced. That means almost all church services will be canceled. That is very troubling to me.

The members of my church called me all day Friday and Saturday demanding that we have our normal services and 75% of them are 60 and older.
They told me that if the church was not open they would still come and sit in the yard in lawn chairs.
Hi brother,

Ok, let’s go down this rabbit hole for a little bit.

The “American people” did not elect President Trump; the electoral college did. At the end of the day, that really does not matter; however, what matters is that a president that does not win the popular vote goes into office to lead a country where more people voted against you than for you. In out country, this has happened five times. One was George W but, unlike Mr. Trump, Brush was likable, and the country rallied around him after 911. Say what you will about Mr. Trump, he is not likable by any stretch of the imagination.

Ok, I do not understand why we are freaking out over this virus, but we are not alone. I took it upon myself to visit major news sources for the UK, Germany, Italy, Japan, China, and Australia. In all cases this virus is all over their “front page.” So, it does appear that the panic is not limited to the US’ mean liberal left population. In fact, as I am writing this, I see that Canada is about to close its borders.

We are, and will be for a while, in a crazy economic moment. The market has lost everything it had gained, since at least 2009. While we are not there yet, I suspect that, in the near future, the government will require non-essential private businesses to shut down. For sure, restaurants are in a world of hurt right now and that is not going to get better for a while. I also suspect that they will eventually ban state to state travel, but who knows.

Here is what I do think. Part of this hysteria has to do with the fact that we really know little about this particular coronavirus. Yes, compared to the traditional flu, this is not yet such a big deal, but we just don’t know. Yesterday, at 1PM, we were at 3,244 with 62 deaths. As of 1:13 today, the CDC is reporting 4,060 with 71 deaths: that’s a jump of 816 in 24 hours. The numbers jumped by 255, between 11:00 and 1:13PM today. For the record, Germany has 2,604 more reported cases, but 57 less deaths. So, basically, we know very little and that is what is freaking people out.

Here is a silly one. We just got an e-mail from our superintendent. Effective right how, we are to maintain a distance of six feet between us (social distance) and can no longer disseminate information via paper. If it is not digital, no one gets it.

Lastly, the church. I think the actual number they are aiming for is any gathering of 50 people or more; however, that does not matter either, because I suspect there are no churches with 49 or fewer members. A place to gather and worship is where we get our strength, but I get it. I was a loud advocate for us to suspend physical gatherings at my church. I did this, because a good Sunday includes at least 1,300 people and I felt that it was just socially irresponsible to stuff that many people into one room (regardless of how large that room is). What I am disappointed at is that they also cancelled small groups (bible study groups) and it looks like they are doing the same with community volunteering. I asked last night if we were doing anything to volunteer and supplement any activities being taken on by our community but have yet to hear back.

Ok, this is a lot of writing, so I’ll go back to watching Netflix for the time being.
 
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Dec 19, 2014
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I don't have time to read everything posted sorry but just wanted to add my perspective a little, if its helpful.

In book of revelation it does talk about end times, and for those of us who read the book of Revelation, interesting thing happened to people who took the Mark of the Beast, and how people couldn't buy nor sell.

I'm not saying it's the end of the world but just that people need to take a step back and lean on their faith in God. It will be ok.

And I haven't bought any toilet paper.
 
Mar 27, 2010
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Here is the verse...
Revelation 13:16-17 King James Version (KJV)
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
 

rtm3039

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Looks like they may have to get rid of paper currency...
"China central bank branch to destroy banknotes from coronavirus-hit sectors"...https://www.scmp.com/economy/china-economy/article/3050868/fresh-cash-old-china-central-bank-branch-destroy-banknotes
https://markets.businessinsider.com/news/stocks/china-peoples-bank-destroy-cash-coronavirus-affected-regions-outbreak-contagion-2020-2-1028908771
I'm, not all that sure why we still have tangible currency. I sometimes go for weeks with no "cash" in my pockets. In fact, about the only real need for physical currency is to buy a lotto ticket; since they will not allow you to do so with an ATM card.

It costs the US Mint 1.67 cents to make a penny and seven cents to make a nickel. On the other hand, it cost them 3.9 cents to make a dime and none cents to make quarter.

Our school district has placed a ban on the dissemination of information via paper; it all has to be digital. So, if this evil virus can be transmitted via paper, who are we still getting mail? A study out this week finds that the virus can survive on hard surfaces such as plastic and stainless steel for up to 72 hours and on cardboard for up to 24 hours.

rtm3039
 

rtm3039

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Here is the latest this morning...
"Dow Jones in Freefall as Wall Street Begs for Stock Market Shutdown
Asset managers reportedly urged the Bank of England to shut the stock market to stop panic selling. Will the U.S. follow suit?"...Dow Jones in Freefall as Wall Street Begs for Stock Market Shutdown
We are not having a good say either, but not harsh enough to trigger an automatic halt to training. The market is all about confidence. Right now there is little to be confident about; however, once the numbers peak and start to go down, the market will rebound.
 
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Dec 19, 2014
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I work in retail and the biggest city in NZ which basically is a port and commercial centre.

I remember when there was a scare about contaminated food from China but mum still buys imported food occasionally from the chinese supermarkets. Although I wouldn't buy canned or preserved food - she needs certain food for her diet. Like she can't live without rice.

But we can get rice from Australia. I've always wondered can we grow it here? I don't see why not at least give it a go. I think people over consume things they don't really need though. For example, in nz we have a huge dairy industry and it exports butter and lamb all over the world thanks to refrigeration. In China, people just didn't have dairy, cos they didn't have cows or the land to graze so they just didn't have it in their diet. Same for wine made from grapes. But now ppl are trying to convince them to buy all this dairy and wine. And eat with knives and forks and stuff, so they can sell more, since China has a huge population.

I don't know if the Chinese will go for western style food etc but hey the westerners all went for tea, silk and porcelain, but they could only trade drugs like opium in return.
 
Mar 27, 2010
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Florida
We are not having a good say either, but not harsh enough to trigger an automatic halt to training. The market is all about confidence. Right now there is little to be confident about; however, once the numbers peak and start to go down, the market will rebound.
I hope the triggers calm the markets down, as I just came from the bank, and they are limiting how much you can take out. But its not official, may just be managers discretion, so we shall see...
 

rtm3039

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I hope the triggers calm the markets down, as I just came from the bank, and they are limiting how much you can take out. But its not official, may just be managers discretion, so we shall see...
I can tell you this much, taking large sums of money from the bank, or storing fuel are two things that will really not do you much good. First, there is no place to go. Second, this will pass, but it will take some time and it's gonna hurt. Every single pandemic we have ever had eventually passed on. It will just be a struggle for a while, maybe even a year or so.

On this one, we are all in it together (whether you like it or not). I've heard that one state has (or is going) to place a holt on rent or mortgage payments). Out water people have already sent an e-mail that said they will not be turning water off, even if you are unable top pay the bill. For the moment, all we can do it wait and see.
 
Mar 27, 2010
66
10
8
Florida
I can tell you this much, taking large sums of money from the bank, or storing fuel are two things that will really not do you much good. First, there is no place to go. Second, this will pass, but it will take some time and it's gonna hurt. Every single pandemic we have ever had eventually passed on. It will just be a struggle for a while, maybe even a year or so.

On this one, we are all in it together (whether you like it or not). I've heard that one state has (or is going) to place a holt on rent or mortgage payments). Out water people have already sent an e-mail that said they will not be turning water off, even if you are unable top pay the bill. For the moment, all we can do it wait and see.
Very true.. By chance, do you know what the 'normal' amount one can take out of their account in one transaction.
 

rtm3039

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Very true.. By chance, do you know what the 'normal' amount one can take out of their account in one transaction.
Not a clue. I know via ATM is $300.00. In person, I haven no idea. I suspect that each bank has a set limit and this is probably adjusted to deal with people who run in there and want all their coins in one sock. I assume it also depends on if you want in in cash or a cashier's check.