Court of Appeals ruling - Banks may take money from Allocated Accounts

cheeple

Member
The 7th Court of Appeals has ruled Banking institutions can take any funds entrusted to them by clients in allocated accounts on deposit may be used as collateral for loans with other financial institutions to fund their proprietary trading (ala Jon Corzine).

You can read the technicals here :
http://www.knowledgemosaic.com/gateway/courtcase/Sentinel.080912.pdf

here you can get a feel for the impact of a decision here:

[video]http://www.silverdoctors.com/ann-barnhardt-if-youre-still-in-these-markets-youre-either-stupid-or-on-drugs/[/video]
 
Debunkers - FYI, a key position in the Police State/Global Conspiracy Theory is that the government will allow corproations and financial Institutions to legally steal your money and property nullifying any rights we are suposed to have regarding private property. You have to show that this is bunk and just a conspiracy theory else it sets a dangerous precendence in favor of what the conpsiracy theorists have been saying.

For years they've been warning that this kind of thing will hapopen, that the government will eventually remove all rights individuals have with regard to their property and rule in favor of corporations and large financial instituions and here we are.

Not only does this decission show this but the lack of main stream media coverage about it also goes to prove that the media is controlled just as the conspiracy theorists have been saying. Therefore you have to debunk this.

Here's another article on this: http://www.beaconequity.com/now-banks-can-legally-steal-retirement-accounts-2012-08-15/

And here is another "conspiracy like" sounding warning from Broker 'Ann Barnhardt' who packed up shop and sent back all monies to her clients that she had been managing, telling them that the system was no longer sustainable due to corruption and lack of protetcion: http://barnhardt.biz/

And what do we have here, it seems that the big boys (Soros, Paulson & Rothschild) are all betting That Financial Disaster Is Coming: http://theeconomiccollapseblog.com/...all-betting-that-financial-disaster-is-coming

Cheeple - Thanks posting this to begin with.
 

SR1419

Senior Member.
Ann Barhardt??

really??

Not that she is biased or anything...:)

Of course "financial disaster is coming"....because you read it on the "Economic Collapse Blog"...so, it must be true.
 

Trigger Hippie

Senior Member.
So, if I'm reading this correctly, the ruling states that a brokerage firm was transferring money out of non-lienable segregated client accounts to use as collateral against loans from the Bank of NY Melon. When the brokerage firm went bankrupt, The NY bank claimed the money, and the brokerage firm's clients lost out. The controversy is whether or not the brokerage firm committed fraud when transferring money from segregated accounts and if the bank had any liability in the mess.

So the first thing that jumps out is that this involves a brokerage firm and not a bank.

Second the firm's "clients" where the government, corporations and foreign traders.

This appears to be one group of bankers squabbling with another group of bankers because an intermediary group of bankers was using a dirty little loophole to make everyone some money. They were all friends until the whole thing went sour.

The conspiracy crowd claims that everyone's bank accounts are now at risk because the banks can use your money as they see fit. For once I think they are correct. Isn't that exactly what banks do? They take the majority of client deposits and make investments and loans. If the bank goes bankrupt client deposits are insured by the FDIC up to 250K.
 

cheeple

Member
Actually i posted the Technicals on my original post, and why so Biased against Ann Barnhardt the fact is she had a successful practice making alot of Federal Reserve Notes, she gave it all up and told her clients to prepare sorta like the 600 Banking professionals who have quit their job and liquidated their holdings since 9/11, or how George soros has purchased over $130 Million allocated Gold, it sounds like your biased against Ann Barnhardt.
 

cheeple

Member
So, if I'm reading this correctly, the ruling states that a brokerage firm was transferring money out of non-lienable segregated client accounts to use as collateral against loans from the Bank of NY Melon. When the brokerage firm went bankrupt, The NY bank claimed the money, and the brokerage firm's clients lost out. The controversy is whether or not the brokerage firm committed fraud when transferring money from segregated accounts and if the bank had any liability in the mess.

.

You dont understand what an allocated account is, it's your property, they are only the Custodian, sorta like JPMorgan Chase is the Custodian for the SLV, HSBC is the Custodian for the GLD.
 

cheeple

Member
Also I do feel this is related, the Department of Homeland security has been circulating a memo to banks that they may seize safety deposit boxes citing the "Patriot Act" and may seize Precious metals, Firearms unless prior to 1878, and Pornography to name a few or anything they view as "Contraband", This is an attack on our property rights and our 2nd amendment rights.
 

Mick West

Administrator
Staff member
Also I do feel this is related, the Department of Homeland security has been circulating a memo to banks that they may seize safety deposit boxes citing the "Patriot Act" and may seize Precious metals, Firearms unless prior to 1878, and Pornography to name a few or anything they view as "Contraband", This is an attack on our property rights and our 2nd amendment rights.

And also sounds like nonsense, unless you can produce the memo.
 

SR1419

Senior Member.
Actually i posted the Technicals on my original post, and why so Biased against Ann Barnhardt the fact is she had a successful practice making alot of Federal Reserve Notes, she gave it all up and told her clients to prepare sorta like the 600 Banking professionals who have quit their job and liquidated their holdings since 9/11, or how George soros has purchased over $130 Million allocated Gold, it sounds like your biased against Ann Barnhardt.


Why am I skeptical of Ann Barnhardt? Cuz she has very fringe ideas to put it mildly- she bases a lot of her comments on fear and hate- she thinks Obama is the "anti-christ"

Do you?

http://muccings.blogspot.com/2012/05/ann-barnhardt-on-obamas-gay-marriage.html

She claims The Health Care bill is the establishment of "Sharia diktat": Do you?

http://zionstrumpet.com/2011/10/06/ann-barnhardt-discusses-islam-dhimmitude-and-christian-betrayal/

Its hard to take her seriously when she is so extreme in her views and so blatantly full of hate. Burning Korans and such.


Of course, she also thinks 9/11 was NOT an inside job and buys the official story completely:

http://www.youtube.com/watch?v=uywa9ZogXdk



"600 bank proffesionals"...?? So, what does that even mean? a teller quit her job and sold her stocks? thats approximately 54 "banking professionals" per year since 9/11...

Can you provide any more info or source for that claim...just seems like hyperbole...grasping at straws to stoke the fear...
 

cheeple

Member
And also sounds like nonsense, unless you can produce the memo.
Did a search, cant locate the actual memo only the same story circulating all over the place, Let's hope this is all BS, I do know there is no limit to this govt power grab from Killing American Citizens without due process to unconstitutionally disarming Law Abiding citizens of their 2A rights in Katrina both of which are fact and indisputable. I could go on Tuskegee experiments, the Gulf of Tonkin, etc. we cannot go on pretending the government has our best interests in mind with the list of atrocities the govt has committed against it's own citizens with disclosure, imagine what has not been disclosed.
 

cheeple

Member
"600 bank proffesionals"...?? So, what does that even mean? a teller quit her job and sold her stocks? thats approximately 54 "banking professionals" per year since 9/11...
No thats not what it means, we're talking about CEO's and high level Professionals, many have liquidated assets and gone full into Real Estate, Precious Metals, and Land in low populated areas.
 

Gunguy45

Senior Member.
As a commenter on our local newspaper says.....no documentation.....no proof...no good.

Not just extremist sites or people trying to sell you things...but something verifiable from multiple reliable sources.


Can you provide any of the above?
 

SR1419

Senior Member.
^ but you insinuate that all these departures are because they fear imminent economic collapse....the reality is that it's for a myriad reasons.
 

cheeple

Member
^ but you insinuate that all these departures are because they fear imminent economic collapse....the reality is that it's for a myriad reasons.

First it would be nice if acknowledged the evidence, and yes all of those resignations have been since 2011, they know something is pending, 600+ Banking CEO's and other high level professionals dont just give up lucrative multi million dollar jobs.
 

SR1419

Senior Member.
@cheeple- well, not all of the links works so, I do not know all the claims to be entirely accurate.

But look at the various reasons- retiring, forced out by colleagues, death etc....

You claim you "know" what they "know" but that is just speculation that you try to pass off as fact.

It would be nice if you acknowledged what a wack job Ann Barnhart is....
 

cheeple

Member
You have names and banks each one can be confirmed, over 600 Banking Professionals have resigned and skipped town, it's true and verifiable there is no room for dispute.
 

cheeple

Member
^ well, not all of the links works so, I do not know all the claims to be entirely accurate.

But look at the various reasons- retiring, forced out by colleagues, death etc....

You claim you "know" what they "know" but that is just speculation that you try to pass off as fact.

It would be nice if you acknowledged what a wack job Ann Barnhart is....

LOL Bro I only heard of Ann Barnhart yesterday, LITERALLY on silverdoctors. Yes over 600 of those bankers resigned, forced out or died I'm sure it's nothing though...............
 

SR1419

Senior Member.
Sorry - not buying it.

How may resigned the previous year? And the year before that? What is the average number of reginations, death etc...

LOOK at the specific incidences...some are only board members leaving, some are small town bank execs retiring after 40 yrs, some took jobs at other banks, some were forced out, some died! Did the dude have heart attack cuz he knew economic collapse was coming? Must. Have read it on the Economic Collapse blog....lol
 

cheeple

Member
So you acknowledge that over 600 Banking professionals from around the world have retired, were forced out, or died since September 2001 ( i edited my post dont know why i said in the last year), the question has changed to "why", well first I think any rational person would find it very suspicious that all these Banking professionals would give up easy money, sure some died, we'll say for sake of argument there is nothing suspect with that, but thats a very small percentage less than 1%. Well since we're past the question of if over 600 bankers have skipped town we can get into the why of the matter, I believe it's because they fear something economically related, simply because it adds up, these are bankers, if these were NASA Scientists then it wouldnt add up. Let me ask you, does anything seem fishy to you? or does it sound completely normal.
 

Marko

New Member
Of course "financial disaster is coming"....because you read it on the "Economic Collapse Blog"...so, it must be true.

They've been saying that since Anti-Christ Clinton was elected.

It's some kind of nutter right-wing christians who run that. Probably one of the greatest sources of propaganda, disinformation and misinformation on the internet.
 

cheeple

Member
They've been saying that since Anti-Christ Clinton was elected.

It's some kind of nutter right-wing christians who run that. Probably one of the greatest sources of propaganda, disinformation and misinformation on the internet.

Very accusatory and presumptuous, I provided a comprehensive list as requested.
 

Gunguy45

Senior Member.
I said I was done.....but really? 600 banking people around the world (out of how many?) have quit, been forced out, retired or died. Oh my yes...that must be an indication of....uhhhhh of......uhhh.
 

cheeple

Member
I said I was done.....but really? 600 banking people around the world (out of how many?) have quit, been forced out, retired or died. Oh my yes...that must be an indication of....uhhhhh of......uhhh.

Not very articulate but you didnt answer my question, Does anything seem out of the ordinary to you? Rationally I mean.
 

Gunguy45

Senior Member.
Does anything seem out of the ordinary to you? Rationally I mean.

No....not even a little bit. 600 people died, quit, were forced out or possibly changed to a new field.....over 11 years? In a huge worldwide industry?

Wow....yes...thats seems...uh...typical?

Thanks for the insult btw...says a lot.
 

cheeple

Member
No....not even a little bit. 600 people died, quit, were forced out or possibly changed to a new field.....over 11 years? In a huge worldwide industry?

Wow....yes...thats seems...uh...typical?

Thanks for the insult btw...says a lot.

I noticed you put 600 people died, quit, or were forced out which is actually out of order but it makes your case, it was Resigned, forced out, and a miniscule amount who actually physically died. and I didnt mean to insult you take a look at what you wrote:

that must be an indication of....uhhhhh of......uhhh
.
Wasnt trying to be mean, it was so unarticulate i didnt even understand what it meant.
But ok if you dont think anything is out of the ordinary, I still see something very out of the ordinary going on, but it almost seems like if you dont hear it on the mainstream news or straight from the Office of the president then it's not reliable? If this were 600 NASA scientists who resigned and bought underground shelters it's easy to disseminate from the information available, but these are Bankers and Bankers love making money.
 

Gunguy45

Senior Member.
And you throw in buying underground shelters...where was that ever brought up?

Maybe you should check NASA...with the downsizing over the last 11 yrs...I'm sure at least 600 professionals (they are not all "scientists") have taken a hike.
 

SR1419

Senior Member.
does anything seem fishy to you? or does it sound completely normal.

It IS normal for people to retire, to quit to pursue other jobs (some took other jobs in BANKING), to die, to get forced out etc...I am sure you will agree that is normal.

The issue is the volume of the turnover.

Keep in mind this list is global...so, 600 people over 11yrs across the globe does not seem "fishy"...but that is why I asked what is the average turnover for this industry for a similar time frame.

Just taking and aggregate number and insinuating the cause of the number is because they all "know" something is speculation...but not speculation based on logic or precedent.
 

cheeple

Member
And you throw in buying underground shelters...where was that ever brought up?
No I'm saying if 600 NASA scientists resigned and bought underground shelters that would be a red flag, and even though the mainstream media didnt report why the quit and why they bought underground shelters it could only have one logical reason, they are preparing. That was totally Hypothetical, my point is when 600 CEO's, Presidents, Vice Presidents, Chief Financial Officers, and other banking Giants cut the cord it's easy easy to form a rational explanation.
 

cheeple

Member
It IS normal for people to retire, to quit to pursue other jobs (some took other jobs in BANKING), to die, to get forced out etc...I am sure you will agree that is normal.

The issue is the volume of the turnover.

Keep in mind this list is global...so, 600 people over 11yrs across the globe does not seem "fishy"...but that is why I asked what is the average turnover for this industry for a similar time frame.

Just taking and aggregate number and insinuating the cause of the number is because they all "know" something is speculation...but not speculation based on logic or precedent.
Damn really? doesnt seem Logical? well only time will tell.
 

SR1419

Senior Member.
If this were 600 NASA scientists who resigned and bought underground shelters it's easy to disseminate from the information available, but these are Bankers and Bankers love making money.

sorry- false analogy.

If all 600 were from the same bank then maybe...but these are people from a wide range of banks from all over the world...
 

SR1419

Senior Member.
Damn really? doesnt seem Logical? well only time will tell.

Look at each individual incident...several I looked at the person resigned one position only to remain at the institution in another role...hardly fleeing a sinking ship.

This guy resigned because he was joining the Federal Reserve- lets see how you twist that into your meme:

http://www.businesswire.com/news/home/20111220006302/en

You think it is "fishy" because it fits into your predilection for collapse scenarios..

but I have asked you several times- how does this volume compare to other time frames or other industries.

Just seeing "600 bankers quit" and thinking you KNOW that they "quit" (when they didn't all quit) because they fear an economic collapse is illogical and doesn't bear up to scrutiny.

Can't you see that?

They didn't all resign.

They weren't even all "bankers"- several on the list were merely board members...
 

SR1419

Senior Member.
yes they are from all over, which makes it all the more legitimate.

No- sorry...you can't have it both ways- You said what if they were all from NASA...? suggesting if they all quit NASA then something would be up because of the concentration...

but this is spread out across the industry, across the world...

What percentage of the world's "bankers" is this??

What is the typical rate of turnover for "bankers"?

until you can even begin to put this in context you are just blowing hot air.
 

cheeple

Member
Look at each individual incident...several I looked at the person resigned one position only to remain at the institution in another role...hardly fleeing a sinking ship.

You think it is "fishy" because it fits into your predilection for collapse scenarios..

but I have asked you several times- how does this volume compare to other time frames or other industries.

Just seeing "600 bankers quit" and thinking you KNOW that they "quit" (when they didn't all quit) because they fear an economic collapse is illogical and doesn't bear up to scrutiny.

Can't you see that?

They didn't all resign.

They weren't even all "bankers"- several on the list were merely board members...
what do you think a board member of a bank is? I could post the list but it is HUGE, take another look at the list, most of them quit and split they didnt resign from CEO to become marketing director or something like that, they are GONE, and I have not made any prediction of economic collapse metaphysical or otherwise, look at the evidence, look at the debt, the major players resigning, buying Gold, shorting currencies, I have nothing to gain from an economic collapse, I wish I was living in the sixties where you could work, save, send your kids to college, retire, and die. It's not gonna be so simple for many of Americans once what little paper wealthy people have is wiped out.
 

cheeple

Member
No- sorry...you can't have it both ways- You said what if they were all from NASA...? suggesting if they all quit NASA then something would be up because of the concentration...

but this is spread out across the industry, across the world...

What percentage of the world's "bankers" is this??

What is the typical rate of turnover for "bankers"?

until you can even begin to put this in context you are just blowing hot air.
allow me to rephrase my hypothetical scenario, let's not call them NASA, lets call them Space Scientist or Astronomy professionals, this point is hardly even worth going any further, your strawman arguments only take away from facts.
 

SR1419

Senior Member.
Board members are typically non-paid positions held by people from other companies and industries....being on the board of bank doesn't you a "banker".

Asking for context is hardly a straw man argument.

Taking series of individual incidents and ascribing them all to a single purpose is not logical way to think.
 

cheeple

Member
Board members are typically non-paid positions held by people from other companies and industries....being on the board of bank doesn't you a "banker".

Asking for context is hardly a straw man argument.

Taking series of individual incidents and ascribing them all to a single purpose is not logical way to think.

Ok these board members were fully paid for their services, look at the List, CEO's, CFO's Presidents, Vice Presidents, and their Foreign Equivalents. Your ignoring the hard core facts, Your position is all 611 quit for 611 unique reasons, thats obsurd, now it's just debunking for the sake of debunking.
 

SR1419

Senior Member.
Your position is all 611 quit for 611 unique reasons, thats obsurd, now it's just debunking for the sake of debunking.

But they DID quit, retire, get fired, die for unique reasons....it's you wanting to group all of these incidents together under a unified purpose- for the sake of confirming your bias - that is rediculous.

For the last time...can you present ANY context to show that this volume is unusual in any way?
 
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