BoA 53trill Moved

8/3/2019 BoA 53trill Moved

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Tue, 10/18/2011 - 15:09 |

Tue, 10/18/2011 - 15:11 |

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have no desire of being exposed to surging counterparty risk and would much rather split it with America's depositors.

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wang

#BoycottBankofAmerica

nope-1004

Take your deposits out, move them to a credit union. Problem solved. Risk abated.

Good bye BAC.

LOL.

tarsubil

When my wife closed her account yesterday they specifically asked if she was moving to a credit union. Where do

they get off? She said none of your business. I would've been a little less diplomatic.

JohnG

Had a new will notarized last Sat. at my credit union. I asked the guy if they are getting a lot of new account

customers from megabank former customers -- he told me over 10K in the last 90 days - and this is a fairlysmall (12 branches I think) CU.

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Bank Of America Forces Depositors To Backstop Its $53 Trillion Derivative Book To Prevent A Few Clients From Departing The Bank | Ze... http://www.zerohedge.com/news/bankamericaforcesdepositorsbackstopits53trillionderivativebookpreventfewclientsdep

3 von 18 29.10.2011 14:51

B k Of A i F D it T B k t It $53 T illi D i ti B k T P t A F Cli t F D ti Th B k | Z htt // h d / /b k i f d it b k t it 53 t illi d i ti b k t f li t d


4/18

Tue, 10/18/2011 - 15:55 |

Tue, 10/18/2011 - 16:48 |

Tue, 10/18/2011 - 19:35 |

Tue, 10/18/2011 - 20:27 |

Pladizow

There was a guy on CNBC yesterday who was the head of the Credit Union Association and he said new

accounts were up 5 fold!

Employee Notice

Due to the current financial situation caused by the slowdown in the economy, Congress has decided

to implement a scheme to put workers of 50 years of age and above on early, mandatory retirement,

thus creating jobs and reducing unemployment.

This scheme will be known as RAPE (Retire Aged People Early).

Persons selected to be RAPED can apply to Congress to be considered for the SHAFT program (Special

Help After Forced Termination).

Persons who have been RAPED and SHAFTED will be reviewed under the SCREW program (System

Covering Retired-Early Workers).

A person may be RAPED once, SHAFTED twice and SCREWED as many times as Congress deems

appropriate.

Persons who have been RAPED could get AIDS (Additional Income for Dependents & Spouse) orHERPES (Half Earnings for Retired Personnel Early Severance).

Obviously persons who have AIDS or HERPES will not be SHAFTED or SCREWED any further by

Congress.

Persons who are not RAPED and are staying on will receive as much SHIT (Special High Intensity

Training) as possible. Congress has always prided themselves on the amount of SHIT they give our

citizens.

Should you feel that you do not receive enough SHIT, please bring this to the attention of your

Congressman, who has been trained to give you all the SHIT you can handle.

Sincerely,

The Committee for Economic Value of Individual Lives (E.V.I.L.)

PS - Due to recent budget cuts and the rising cost of electricity, gas and oil, as well as current market

conditions, the Light at the End of the Tunnel has been turned off.

Totin

Lulz. I'm stealing that man!

max2205

Having the FDIC backstop derivatives is like asking a homeless person to pay your mortgage

every month. Ain't gonna happen.

FDIC isn't really an agency. It's like a ghost agency.

seek

This is quite true, since it's basically a communal insurance fund that was already so depleted that they





4 von 18 29.10.2011 14:51

Bank Of America Forces Depositors To Backstop Its $53 Trillion Derivative Book To Prevent A Few Clients From Departing The Bank | Ze http://www zerohedge com/news/bank america forces depositors backstop its 53 trillion derivative book prevent few clients dep


5/18

Tue, 10/18/2011 - 21:44 |

Tue, 10/18/2011 - 23:53 |

Wed, 10/19/2011 - 01:08 |

Wed, 10/19/2011 - 00:40 |

Wed, 10/19/2011 - 01:11 |

had the banks pay their fees years in advance back in 2008/09.

That this happened, though, is telling. It really makes the trigger event/black swan possibilities

to take out the entire banking system obvious. And banks being the scum they are, I could see them

trying to get the full notional value of the derivatives. At this point you'd have to print to cover, and

boom, there's the hyperinflationary event that takes place to "save" the banks while reducing the

customer's savings value to nearly zero.

Harlequin001

Reading this I almost thought to myself, why don't I go and open an account with a credit

union?

And then I remembered, it's because it's stored in gold in a vault in Switzerland.

and then I thought WTF!

and yes, seek, the money printing, for which a Credit Union is fuck all protection will begin in

earnest when the US can no longer access bond markets due to high rates. It must then pay for

everything in cash, and not 2% per year with bonds.

That means that is the yield on a 5 year is 2%pa, then the governments requirement for physical

cash goes up by a multiple of 50, instantly, and that's just to stand still.

Good luck with your credit union when that happens...

lunaticfringe

I was lost, first and almost at the beginning I think.

flacon

As long as FDIC has the word "Corporation" in it, it's all good. Corporations never

loose and they can always be trusted because they are back-stopped by the Federal

Government who has Deposits into such Corporation. In Government We Trust.

gitano513

Halequin! Give us a link or two where some of us can do the same. Reputable places

though!

flacon

goldmoney.com

I have some in Switzerland, UK, and Hong Kong. Buy sell, hold cash, swap etc.James Turk is rated AAAAAA+







5 von 18 29.10.2011 14:51


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7/18

Tue, 10/18/2011 - 15:27 |

Tue, 10/18/2011 - 19:41 |

Tue, 10/18/2011 - 15:30 |

Tue, 10/18/2011 - 15:56 |

Tue, 10/18/2011 - 17:09 |

also downplaying the fact that they have all their clients closing their accounts.

Chase is scared as hell too. They changed around their JP Morgan Chase web site to show that they "care" about

the little people and about communities. I think it's all bullshit because they had a big hand in the mortgage fraud

and they will also go down as well.

I hope everyone DO NOT fear the big banks or what they have to say. I also pray to God that the US govt

DOESN'T bail them out ever again.

We have to let the big banks know that without us, the people, they are nothing!!

greased up deaf guy

yahoo finance top story:

Bernanke: Crisis Taught Lesson for Central Banks

"Federal Reserve Chairman Ben Bernanke says a key lesson learned from the 2008 financial crisis is that central

banks must have a dual goal of controlling inflation while supporting the banking system."

ahhh... the REAL dual mandate is now blatant.

http://finance.yahoo.com/news/Bernanke-Crisis-taught-lesson-apf-70589651.html?x=0&sec=topStories&pos=main&

asset=&ccode=

Bastiat

The truth is always refreshing.

sqz

"... of course, in order to thank depositors for being explicit guarantors of the bank's derivative business, it is

now forcing them to pay a $5/month fee." Ouch.

That simply wouldn't be legal in most developed countries outside the US. I'm somewhat surprised this bank has any

deposits left ...

TheFourthStooge-ing

You need to remember that the US is shedding its "developed country" status. It is now what is referred to as a

submerging economy.

mjk0259





That simply wouldn't be legal in most developed countries outside the US.


p p p g | p // g / / p p p p

7 von 18 29.10.2011 14:51



8/18

Tue, 10/18/2011 - 17:52 |

Tue, 10/18/2011 - 21:47 |

Tue, 10/18/2011 - 15:30 |

Tue, 10/18/2011 - 15:36 |

Tue, 10/18/2011 - 15:52 |

Tue, 10/18/2011 - 17:02 |

Tue, 10/18/2011 - 17:12 |

Wed, 10/19/2011 - 00:47 |

And rightfully so! This is a disgrace. There should be Congressional hearings right away.

Leopold B. Scotch

Yes. They've proven to be such wonderful overseers of the system.

Harlequin001

and a fat lot of use eh...

TheGameIsRigged

WE NEED REVOLUTION - pure and simple. TPTB just suck...there's really no other way to say it. It disgusts me. I do

not know how they sleep at night.

JohnG

Vampires don't need sleep. They sit up and plot new ways to rob "customers" aka vampire food.

Nascent_Variable

Guillotine time may not be here just yet, but take comfort in the fact that it is fast approaching.

Off with their heads. All the lords and their squires - every last villainous, thieving one of them.

LFMayor

How they sleep is not important. Where they sleep, now that's useful.

Manthong

Long: Torches and Pitchforks

Short: Time

gitano513









8 von 18 29.10.2011 14:51


9/18



10/18

Tue, 10/18/2011 - 15:31 |

Tue, 10/18/2011 - 16:13 |

Tue, 10/18/2011 - 15:07 |

Tue, 10/18/2011 - 15:07 |

Tue, 10/18/2011 - 15:07 |

Tue, 10/18/2011 - 15:16 |

Bob Piss-on-me just said BAC is trading below book value. I'm sure he's done his homework on all of this before spouting

off.

DCFusor

Waaaaaaay below if they're really got 1,041 trillion in deposits! I assume that's a typo in the article. But with FASB

rules, book value is meaningless - no mark to market, no value can be determined from what they report. Their truebook is probably negative, so in reality they are trading way above their book value.

Steaming_Wookie_Doo

Yeah, typo, 'cos if they had 1+ quadrillion in deposits, problem solved!

But unfortunately they have over 50x leverage between their derivatives exposure vs their deposits. Who needs

anything scarier at Halloween? Hey kids, I'm B of A's balance sheet! Boo!

Comay Mierda

aaand its gone!

http://www.youtube.com/watch?v=RAKsMnAM8vk

sabra1

did they at least pay the $5.00 for the transfer?

Debtless

2 words. Credit Union.

Next question...

NotApplicable

While I've been a credit unioner all of my life, they are not immune from the financial plague either, thanks to the

help of the U.S. Central Credit Union (i.e. the central bank for credit unions), who got them all involved in toxic paper

"assets."

http://en.wikipedia.org/wiki/U.S._Central_Credit_Union

http://www.reuters.com/article/2009/03/22/us-financial-creditunion-inter...

Simply put, there is no avoiding the consequences of a crack-up boom. Any place that relies on the fiat standard forsustainability is doomed.








10 von 18 29.10.2011 14:51


11/18



12/18

Tue, 10/18/2011 - 15:28 |

Tue, 10/18/2011 - 15:32 |

Tue, 10/18/2011 - 16:31 |

Tue, 10/18/2011 - 21:54 |

Tue, 10/18/2011 - 15:07 |

Tue, 10/18/2011 - 15:12 |

However, it does not necessarily need to be that the worst of all worst cases happens - so when the outcome

is just catastrophic, rather than doomsday, the undercapitalized ones will fall first, and the more autonomous

ones later.... which should give oneself more than enough warning time.

(prev reply removed - i didn't correctly read your question and thought you were asking about my longterm

holdings)Okay, i just checked - apparently, it is almost completely cash - just aprox. 15% of the capital is invested in

stocks and metals. So, it's major exposure is f iat - if the EUR hyperinflates, the bank goes down.

Libertarians fo...

Where do most small banks and credit unions get funding?

fuu

I find a word cloud of your last 10 posts to be rather funny.

https://reader009.{domain}/reader009/html5/0511/5af5168ced1d6/5af51694f2759.png/

nyse

Hilar!

Harlequin001

Yep, some big words in there: car, metal, shiny, fuck...

Irish66

This is so bullish 12000 here we come

derek_vineyard

Good for you, you did your due diligence. I think. What is your CU holding? Gold?







12 von 18 29.10.2011 14:51



13/18

Tue, 10/18/2011 - 15:13 |

Tue, 10/18/2011 - 15:13 |

Tue, 10/18/2011 - 15:09 |

Tue, 10/18/2011 - 15:18 |

Tue, 10/18/2011 - 15:09 |

Tue, 10/18/2011 - 15:09 |

Tue, 10/18/2011 - 15:23 |

new all time highs 16000 and beyond

Irish66

France and Germany agree on 2tr euro

X.inf.capt

i dont think it'll help 'em

its becoming very vogue for the masses to go to a credit union...

or opt out by using a pay as you go debit card, m.o.'s and the old stand by....

CASH!

HelluvaEngineer

What rumor / earnings just leaked? 10 pts on ES

IrritableBowels

No rumors needed-it's three o'clock!

Comay Mierda

next step: withdrawal restrictions and bank holidays bitchez

monopoly

And we ramp to the highs of the day. So glad I do not short this broken market.

1fortheroad

3:00 boner right on time, breakout the lube. LOL 4:00 my time.








13 von 18 29.10.2011 14:51



14/18

Tue, 10/18/2011 - 15:28 |

Tue, 10/18/2011 - 16:11 |

Tue, 10/18/2011 - 15:10 |

Tue, 10/18/2011 - 15:10 |

Tue, 10/18/2011 - 16:13 |

Tue, 10/18/2011 - 15:11 |

Tue, 10/18/2011 - 15:11 |

HellBoy6

I bet this crap trades off in after hours. None of this is real it can't be, can it?

earleflorida

this market trades on a vapor trail at 2pm daily

wall street's,... hell's kitchen, seems cooking the cookbook only makes sense to the head chef [whomever

that be (chef ramsey's?)] whose steady diet, composes of two exotic ingredients - one dash arsenic followed by a

tasty sip of hemlock, and of course - followed by a good nights read of the financial pages - repeat daily til,... ?

your killing me tyler - great digging

LawsofPhysics

Bank of America screwing their own clients. Wow straight out of the GS playbook.

hungrydweller

I'm done with BoA. Moving my fiatsco accounts to my local credit union ASAP. I will also be keeping as much of my linen

out of digital space as possible.

tekhneek

Nov 5, 2011 -- Bank Transfer Day

Join us.

http://www.facebook.com/event.php?eid=281139538577206

Mister Ponzi

AIG 2.0 bitchez!

DonutBoy

Good thing that Volcker rule is in place to protect depository institutions.









14 von 18 29.10.2011 14:51



15/18

Tue, 10/18/2011 - 15:24 |

Tue, 10/18/2011 - 16:19 |

Tue, 10/18/2011 - 15:12 |

Tue, 10/18/2011 - 15:13 |

Tue, 10/18/2011 - 15:13 |

Tue, 10/18/2011 - 15:13 |

Tue, 10/18/2011 - 15:16 |

Tue, 10/18/2011 - 15:52 |

Vergeltung

Steaming_Wookie_Doo

I, too, snorted and spit coffee all over my monitor. The only "deposits" the avg schmuck will be able to retrieve are

those financial bukkake products covering them, as they are left behind by Blankfein et al.

NumberNone

Perfect timing for a stick save...another 2trillion will save us!

http://www.guardian.co.uk/business/2011/oct/18/france-and-germany-move-towards-2tn-euro-fund

monopoly

I am amazed that anyone here that has been around Zero Hedge for more than 4 days still banks with any of the parasite

banks that rob, steal and lie to their depositors. Beyond words for me.

Credit Unions, small solvent banks in our community. No excuse except being lazy.

tarsubil

My wife finally went in to close the zombie account yesterday. We had drawn down the balance to about 100 bernank

bucks and they still took her into a room and grilled her on why she was closing. They lied and said everyone had debit

card fees and debit fees. My wife brought up the fact that direct deposit was available now a full 2-3 days before BoA

handled it. The lady just had no answer. Reminds me of the AOL cancellation process. BoA is going to blow up. The place is in full

melt down and the emergency pumps are broken.

LawsofPhysics

What the fuck, eveything just went green.

kk1532003

3:00 PM EST. You can set your watch by it...

Manthong

Maybe the hyperinflation sets into the market first.. worthless dollars inflating overvalued stocks.








15 von 18 29.10.2011 14:51



16/18

Tue, 10/18/2011 - 15:17 |

Tue, 10/18/2011 - 15:19 |

Tue, 10/18/2011 - 15:14 |

Tue, 10/18/2011 - 17:27 |

Tue, 10/18/2011 - 15:14 |

Tue, 10/18/2011 - 15:15 |

Tue, 10/18/2011 - 15:16 |

Maybe the market will never go down again.

Comay Mierda

SPX just broke 1220, next up 1250

kk1532003

3:00 PM EST. You can set your watch by it...

ex VRWC

Here we have a TBTF bank at odds with the FDIC. Although it would be a good move politically for the Obama

administration to pressure the FDIC to force the issue and confront the TBTFs, my money says they won't. They will

therefore provide just another proof of their complicity with the bankers. We will see.

Paul Bogdanich

The Obama administration confront a banker? During an election funding cycle? What planet are you on Holmes?

monopoly

And look at our miners. Gotta keep the faith. Not easy sometimes. But never, never do margin with gold....

Hansel

Calvinball Rule 1.5: The Calvinball Field should consist of areas, or zones, which are governed by a set of rules declared by

players. Zones may appear and disappear as often and wherever the player decides. For example, a corollary zone would

enable a player to make a corollary (sub-rule) to any rule already made. Or an opposite zone would enable a player to

declare reverse playibility on the others. (Remember, the player would declare this zone oppositelyby not declaring it.)

Temporalist

Yay $2 Trillion for EFSF









16 von 18 29.10.2011 14:51



17/18

Tue, 10/18/2011 - 16:15 |

Tue, 10/18/2011 - 15:16 |

Tue, 10/18/2011 - 15:18 |

Tue, 10/18/2011 - 15:48 |

Tue, 10/18/2011 - 15:16 |

Tue, 10/18/2011 - 15:51 |

Tue, 10/18/2011 - 16:16 |

Tue, 10/18/2011 - 17:40 |

tekhneek

That's definitely not inflationary.

Ponziconomy

When BAC, GS, UBS and MS all merge, we'll have the ultimate in acronyms: SSCUM BBAGS.

Denver768

Love it Ponzi.... Truth.

Pladizow

Better yet, full of BS SCUM BAGS!

kito

NOVEMBER 5TH IS BANK TRANSFER DAY. SPREAD THE WORD. GO LOCAL!!!

iDealMeat

On or Before the 5th.. He who transfers (panics) first. transfers (panics) best..

tekhneek

Nov 5, 2011 -- Bank Transfer Day

Join us.

http://www.facebook.com/event.php?eid=281139538577206

Calculated_Risk








17 von 18 29.10.2011 14:51



18/18

Tue, 10/18/2011 - 23:19 |

it's broken...

unununium

CR? "No systemic risk in MERS"? Is that you?

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18 von 18 29.10.2011 14:51

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BoA 53trill Moved