---
Tuesday, July 12, 2011
And I heard, but I understood not:
---
"And I heard, but I understood not: then I said,
Oh my Lord, what shall be the end of these things?
"And the angel said, Go thy way Daniel:
for the words are closed up and sealed
till the time of the end.
"Many shall be purified, and made white, and tried;
but the wicked shall do wickedly;
and none of the wicked shall understand;
but the wise shall understand."
End of the book of Daniel (ch 12 v 8-10)
"And I heard, but I understood not: then I said,
Oh my Lord, what shall be the end of these things?
"And the angel said, Go thy way Daniel:
for the words are closed up and sealed
till the time of the end.
"Many shall be purified, and made white, and tried;
but the wicked shall do wickedly;
and none of the wicked shall understand;
but the wise shall understand."
End of the book of Daniel (ch 12 v 8-10)
Monday, July 11, 2011
King Solomon on FX Trading Psychology - Proverbs for traders
---
New Living Translation (©2007)
Proverbs
3:13-26 13 Blessed is the man who finds wisdom,
the man who gains understanding,
14 for she is more profitable than silver
and yields better returns than gold.
15 She is more precious than rubies;
nothing you desire can compare with her.
16 Long life is in her right hand;
in her left hand are riches and honor.
17 Her ways are pleasant ways,
and all her paths are peace.
18 She is a tree of life to those who embrace her;
those who lay hold of her will be blessed.
19 By wisdom the LORD laid the earth’s foundations,
by understanding he set the heavens in place;
20 by his knowledge the deeps were divided,
and the clouds let drop the dew.
21 My son, preserve sound judgment and discernment,
do not let them out of your sight;
22 they will be life for you,
an ornament to grace your neck.
23 Then you will go on your way in safety,
and your foot will not stumble;
24 when you lie down, you will not be afraid;
when you lie down, your sleep will be sweet.
25 Have no fear of sudden disaster
or of the ruin that overtakes the wicked,
26 for the LORD will be your confidence
and will keep your foot from being snared.
4:5-9 5 Get wisdom, get understanding;
do not forget my words or swerve from them.
6 Do not forsake wisdom, and she will protect you;
love her, and she will watch over you.
7 Wisdom is supreme; therefore get wisdom.
Though it cost all you have,a get understanding.
8 Esteem her, and she will exalt you;
embrace her, and she will honor you.
9 She will set a garland of grace on your head
and present you with a crown of splendor.”
4:13 Take hold of my instructions; don't let them go. Guard them, for they are the key to life.
8:1 Listen as Wisdom calls out! Hear as understanding raises her voice!
9:9 Instruct the wise, and they will be even wiser. Teach the righteous, and they will learn even more.
10:4 Lazy people are soon poor; hard workers get rich.
10:14 Wise people treasure knowledge, but the babbling of a fool invites disaster.
11:2 Pride leads to disgrace, but with humility comes wisdom.
11:13 A gossip goes around telling secrets, but those who are trustworthy can keep a confidence.
12:1 To learn, you must love discipline; it is stupid to hate correction.
12:15 Fools think their own way is right, but the wise listen to others.
12:24 Work hard and become a leader; be lazy and become a slave.
13:18 He who ignores discipline comes to poverty and shame, but whoever heeds correction is honored.
14:8 The prudent understand where they are going, but fools deceive themselves.
14:15 Only simpletons believe everything they're told! The prudent carefully consider their steps.
14:23 Work brings profit, but mere talk leads to poverty!
14:24 Wealth is a crown for the wise; the effort of fools yields only foolishness.
15:22 Plans go wrong for lack of advice; many advisers bring success.
15:32 If you reject discipline, you only harm yourself; but if you listen to correction, you grow in understanding.
16:3 Commit your actions to the LORD, and your plans will succeed.
16:16 How much better to get wisdom than gold, and good judgment than silver!
16:20 Those who listen to instruction will prosper; those who trust the LORD will be joyful.
16:32 Better to be patient than powerful; better to have self-control than to conquer a city.
17:16 It is senseless to pay tuition to educate a fool, since he has no heart for learning.
18:2 Fools have no interest in understanding; they only want to air their own opinions.
18:9 A lazy person is as bad as someone who destroys things.
18:15 Intelligent people are always ready to learn. Their ears are open for knowledge.
19:8 To acquire wisdom is to love oneself; people who cherish understanding will prosper.
19:20 Get all the advice and instruction you can, so you will be wise the rest of your life.
20:15 Wise words are more valuable than much gold and many rubies.
20:18 Plans succeed through good counsel; don't go to war without wise advice.
20:23 The LORD detests double standards; he is not pleased by dishonest scales.
21:5 Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.
21:22 The wise conquer the city of the strong and level the fortress in which they trust.
21:24 Mockers are proud and haughty; they act with boundless arrogance.
21:25 Despite their desires, the lazy will come to ruin, for their hands refuse to work.
22:1 Choose a good reputation over great riches; being held in high esteem is better than silver or gold.
22:4 True humility and fear of the LORD lead to riches, honor, and long life.
22:29 Do you see any truly competent workers? They will serve kings rather than working for ordinary people.
23:4 Don't wear yourself out trying to get rich. Be wise enough to know when to quit.
23:5 In the blink of an eye wealth disappears, for it will sprout wings and fly away like an eagle. (FX for sure here! LMAO)
23:12 Commit yourself to instruction; listen carefully to words of knowledge.
23:23 Get the truth and never sell it; also get wisdom, discipline, and good judgment.
24:10 If you fail under pressure, your strength is too small.
24:14 In the same way, wisdom is sweet to your soul. If you find it, you will have a bright future, and your hopes will not be cut short.
24:33-34 A little extra sleep, a little more slumber, a little folding of the hands to rest-- then poverty will pounce on you like a bandit; scarcity will attack you like an armed robber.
26:11 As a dog returns to its vomit, so a fool repeats his foolishness.
26:12 There is more hope for fools than for people who think they are wise.
27:1 Don't brag about tomorrow, since you don't know what the day will bring.
27:2 Let someone else praise you, not your own mouth--a stranger, not your own lips.
27:9 The heartfelt counsel of a friend is as sweet as perfume and incense.
27:12 A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.
27:17 As iron sharpens iron, so a friend sharpens a friend.
28:11 Rich people may think they are wise, but a poor person with discernment can see right through them.
28:20 The trustworthy person will get a rich reward, but a person who wants quick riches will get into trouble.
28:26 Those who trust their own insight are foolish, but anyone who walks in wisdom is safe.
29:23 Pride ends in humiliation, while humility brings honor.
King Solomon on wisdom in general
---
In layman's terms.. SUCK IT UP!
LMAO
Greg
New Living Translation (©2007)
Proverbs
3:13-26 13 Blessed is the man who finds wisdom,
the man who gains understanding,
14 for she is more profitable than silver
and yields better returns than gold.
15 She is more precious than rubies;
nothing you desire can compare with her.
16 Long life is in her right hand;
in her left hand are riches and honor.
17 Her ways are pleasant ways,
and all her paths are peace.
18 She is a tree of life to those who embrace her;
those who lay hold of her will be blessed.
19 By wisdom the LORD laid the earth’s foundations,
by understanding he set the heavens in place;
20 by his knowledge the deeps were divided,
and the clouds let drop the dew.
21 My son, preserve sound judgment and discernment,
do not let them out of your sight;
22 they will be life for you,
an ornament to grace your neck.
23 Then you will go on your way in safety,
and your foot will not stumble;
24 when you lie down, you will not be afraid;
when you lie down, your sleep will be sweet.
25 Have no fear of sudden disaster
or of the ruin that overtakes the wicked,
26 for the LORD will be your confidence
and will keep your foot from being snared.
4:5-9 5 Get wisdom, get understanding;
do not forget my words or swerve from them.
6 Do not forsake wisdom, and she will protect you;
love her, and she will watch over you.
7 Wisdom is supreme; therefore get wisdom.
Though it cost all you have,a get understanding.
8 Esteem her, and she will exalt you;
embrace her, and she will honor you.
9 She will set a garland of grace on your head
and present you with a crown of splendor.”
4:13 Take hold of my instructions; don't let them go. Guard them, for they are the key to life.
8:1 Listen as Wisdom calls out! Hear as understanding raises her voice!
9:9 Instruct the wise, and they will be even wiser. Teach the righteous, and they will learn even more.
10:4 Lazy people are soon poor; hard workers get rich.
10:14 Wise people treasure knowledge, but the babbling of a fool invites disaster.
11:2 Pride leads to disgrace, but with humility comes wisdom.
11:13 A gossip goes around telling secrets, but those who are trustworthy can keep a confidence.
12:1 To learn, you must love discipline; it is stupid to hate correction.
12:15 Fools think their own way is right, but the wise listen to others.
12:24 Work hard and become a leader; be lazy and become a slave.
13:18 He who ignores discipline comes to poverty and shame, but whoever heeds correction is honored.
14:8 The prudent understand where they are going, but fools deceive themselves.
14:15 Only simpletons believe everything they're told! The prudent carefully consider their steps.
14:23 Work brings profit, but mere talk leads to poverty!
14:24 Wealth is a crown for the wise; the effort of fools yields only foolishness.
15:22 Plans go wrong for lack of advice; many advisers bring success.
15:32 If you reject discipline, you only harm yourself; but if you listen to correction, you grow in understanding.
16:3 Commit your actions to the LORD, and your plans will succeed.
16:16 How much better to get wisdom than gold, and good judgment than silver!
16:20 Those who listen to instruction will prosper; those who trust the LORD will be joyful.
16:32 Better to be patient than powerful; better to have self-control than to conquer a city.
17:16 It is senseless to pay tuition to educate a fool, since he has no heart for learning.
18:2 Fools have no interest in understanding; they only want to air their own opinions.
18:9 A lazy person is as bad as someone who destroys things.
18:15 Intelligent people are always ready to learn. Their ears are open for knowledge.
19:8 To acquire wisdom is to love oneself; people who cherish understanding will prosper.
19:20 Get all the advice and instruction you can, so you will be wise the rest of your life.
20:15 Wise words are more valuable than much gold and many rubies.
20:18 Plans succeed through good counsel; don't go to war without wise advice.
20:23 The LORD detests double standards; he is not pleased by dishonest scales.
21:5 Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.
21:22 The wise conquer the city of the strong and level the fortress in which they trust.
21:24 Mockers are proud and haughty; they act with boundless arrogance.
21:25 Despite their desires, the lazy will come to ruin, for their hands refuse to work.
22:1 Choose a good reputation over great riches; being held in high esteem is better than silver or gold.
22:4 True humility and fear of the LORD lead to riches, honor, and long life.
22:29 Do you see any truly competent workers? They will serve kings rather than working for ordinary people.
23:4 Don't wear yourself out trying to get rich. Be wise enough to know when to quit.
23:5 In the blink of an eye wealth disappears, for it will sprout wings and fly away like an eagle. (FX for sure here! LMAO)
23:12 Commit yourself to instruction; listen carefully to words of knowledge.
23:23 Get the truth and never sell it; also get wisdom, discipline, and good judgment.
24:10 If you fail under pressure, your strength is too small.
24:14 In the same way, wisdom is sweet to your soul. If you find it, you will have a bright future, and your hopes will not be cut short.
24:33-34 A little extra sleep, a little more slumber, a little folding of the hands to rest-- then poverty will pounce on you like a bandit; scarcity will attack you like an armed robber.
26:11 As a dog returns to its vomit, so a fool repeats his foolishness.
26:12 There is more hope for fools than for people who think they are wise.
27:1 Don't brag about tomorrow, since you don't know what the day will bring.
27:2 Let someone else praise you, not your own mouth--a stranger, not your own lips.
27:9 The heartfelt counsel of a friend is as sweet as perfume and incense.
27:12 A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.
27:17 As iron sharpens iron, so a friend sharpens a friend.
28:11 Rich people may think they are wise, but a poor person with discernment can see right through them.
28:20 The trustworthy person will get a rich reward, but a person who wants quick riches will get into trouble.
28:26 Those who trust their own insight are foolish, but anyone who walks in wisdom is safe.
29:23 Pride ends in humiliation, while humility brings honor.
King Solomon on wisdom in general
---
In layman's terms.. SUCK IT UP!
LMAO
Greg
Anonymous steals information from FBI contractor IRC
---
Anonymous steals information from FBI contractor IRC <-- source
CBR Staff Writer
Published 11 July 2011
Posts online login info to various VPNs and Department of Energy login access panels
Online hacktivist group Anonymous has said that it has breached the database of IRC Federal, an IT contractor that works for the FBI and other federal agencies in the US.
Hackers have posted the information they stole from the website, including internal documents and e-mail information.
The website of IRC remained closed two days after the attack.
A IRC Federal spokesman said, "We reported it to the authorities, and otherwise we have no comment."
The FBI has not commented on the hack so far.
In a statement online, the hacker group asked the employees of the company to stop working for companies which had been "selling out their 'skills' to the US empire."
---
"If you place any value on freedom, then stop working for the oligarchy and start working against it. Stop aiding the corporations and a government which uses unethical means to corner vast amounts of wealth and proceed to flagrantly abuse their power," it said.
---
*I* have no problem at all with the above statement, personally. Greg
---
The statement added, "They [IRC] brag about their multi-million dollar partnership with the FBI, Army, Navy, NASA, and the Department of Justice, selling out their "skills" to the US empire. So we laid nuclear waste to their systems, owning their pathetic windows box, dropping their databases and private emails, and defaced their professional looking website.
"In their emails we found various contracts, development schematics, and internal documents for various government institutions including a proposal for the FBI to develop a "Special Identities Modernisation (SIM) Project" to "reduce terrorist and criminal activity by protecting all records associated with trusted individuals and revealing the identities of those individuals who may
pose serious risk to the United States and its allies.
"We also found fingerprinting contracts for the DOJ, biometrics development for the military, and strategy contracts for the "National Nuclear Security Administration Nuclear Weapons Complex.
"Additionally we found login info to various VPNs and several Department of Energy login access panels that we are dumping *live* complete with some URLs to live ASP file browser and upload backdoors - let's see how long it takes for them to remove it (don't worry we'll keep putting it back up until they pull the box ;D)"
Anonymous steals information from FBI contractor IRC <-- source
CBR Staff Writer
Published 11 July 2011
Posts online login info to various VPNs and Department of Energy login access panels
Online hacktivist group Anonymous has said that it has breached the database of IRC Federal, an IT contractor that works for the FBI and other federal agencies in the US.
Hackers have posted the information they stole from the website, including internal documents and e-mail information.
The website of IRC remained closed two days after the attack.
A IRC Federal spokesman said, "We reported it to the authorities, and otherwise we have no comment."
The FBI has not commented on the hack so far.
In a statement online, the hacker group asked the employees of the company to stop working for companies which had been "selling out their 'skills' to the US empire."
---
"If you place any value on freedom, then stop working for the oligarchy and start working against it. Stop aiding the corporations and a government which uses unethical means to corner vast amounts of wealth and proceed to flagrantly abuse their power," it said.
---
*I* have no problem at all with the above statement, personally. Greg
---
The statement added, "They [IRC] brag about their multi-million dollar partnership with the FBI, Army, Navy, NASA, and the Department of Justice, selling out their "skills" to the US empire. So we laid nuclear waste to their systems, owning their pathetic windows box, dropping their databases and private emails, and defaced their professional looking website.
"In their emails we found various contracts, development schematics, and internal documents for various government institutions including a proposal for the FBI to develop a "Special Identities Modernisation (SIM) Project" to "reduce terrorist and criminal activity by protecting all records associated with trusted individuals and revealing the identities of those individuals who may
pose serious risk to the United States and its allies.
"We also found fingerprinting contracts for the DOJ, biometrics development for the military, and strategy contracts for the "National Nuclear Security Administration Nuclear Weapons Complex.
"Additionally we found login info to various VPNs and several Department of Energy login access panels that we are dumping *live* complete with some URLs to live ASP file browser and upload backdoors - let's see how long it takes for them to remove it (don't worry we'll keep putting it back up until they pull the box ;D)"
Sunday, July 10, 2011
Couple still waiting for bank to return balance of insurance check - Bank of America $BAC Bank Run?
---
It's important that you read this article out of my local paper carefully to understand what is going on..
The article below is about the fact that many people in Joplin are having a hard time getting banks, especially Bank of America, to turn over the insurance money due them.
The couple discussed received a $232,397.55 check from their insurance company promptly after their home was destroyed by the disastrous May 22nd tornado which destroyed a full 30% of our town and affected virtually everyone within it.
The owners of the home are in a big hurry to payoff their loan balance and move on with their life. Make plans for the future, etc.
This couple is owed $178,000 after paying off their outstanding mortgage debt. Apparently they were well insured.
As I said, they received the money they were due promptly from their insurance company so what's the problem?
Bank of America has been dragging their feet about sending the $178,000 check for many weeks now..
The the attorney general's office had this to say "We consider five to seven days to be reasonable processing," said Gonder in the attorney general's office. "If it goes past that, we encourage residents to call, and we will intervene."
As I said they have been waiting weeks and still have not received their money from Bank of America.
So I got to wondering why that would be.. How would it be advantageous for Bank of America to delay sending this money to it's rightful owner?
The first thing(s) that popped into my head were things like.. Well the delay is so Bank of America can "use" the money a little bit longer, to draw interest on it as a deposit or whatever.
Then something dawned on me..
Could what has happened here in Joplin Missouri (ie; the May 22nd tornado) be causing a "bank run" to occur?
Because we use something called Fractional Reserve Banking (see here and here) the available funds at a bank (called bank reserves) are only a fraction (called the reserve ratio) of the quantity of deposits at the bank.
---
Excerpt from the story..
After sending the check to California, Cindy Atteberry was notified by Bank of America that she had to declare in writing what she intended to do with the money that wasn't going toward paying off her mortgage.
"That's ridiculous," Cindy Atteberry said. "It's none of their business. And I told them that. They told me it would take 14 days to process my check. That's ridiculous, too."
---
So my question is this..
Could the 3 billion dollars in damage from the May 22nd tornado be causing an unexpected bank run at many of the nation's largest banks as they are required to pay these insurance checks?
And lets not forget that Bank of America IS bankrupt.. Owned by the U.S. government and tax payers..
Just wondering in Missouri..
Full story below and link provided
Thanks
Greg
---
July 9, 2011
Couple still waiting for bank to return balance of insurance check
By Laura Kelly
news@joplinglobe.com
JOPLIN, Mo. When Cindy and Curtis Atteberry were rescued from their basement May 22 and saw that their home and everything in it was gone, they felt lucky. They were alive. They were insured.
Seven weeks later, Cindy Atteberry is frustrated. Angry. Outraged. And she has plenty of company.
At least 40 Joplin property owners have filed complaints with the Missouri attorney general's office, most about mortgage companies holding on to large insurance checks.
"And we assume there are others who have not contacted this office," said Nancy Gonder, spokeswoman for Attorney General Chris Koster.
State Sen. Ron Richard, of Joplin, said his office had also received complaints, "especially about Bank of America."
Cindy Atteberry, who knows something about finances, she's president and CEO of Joplin Metro Credit Union, says she's not just fighting for herself but for others in her community who won't or don't know what they should do.
"They are holding my money, using my money," she said. "That's my money. Why are they doing this to us? Don't they know this is a national disaster?"
HEADACHES
When the weather looked threatening that Sunday afternoon in May, Curtis and Cindy Atteberry went down to the basement of their tri-level home with their two little dogs "just in case."
When they saw the patio furniture flying by the window, they ran for a closet. Curtis Atteberry fought unsuccessfully with the wind to close the door, and "we felt things just swell up," said Cindy Atteberry, "like it was going to pull us out of there."
When it was all over, the stairwell was full of who-knows-what. One of the dogs was missing. People above helped free the couple from the rubble.
"One of my first thoughts was: "I hope to God I'm well insured,"" she said.
She was. And the company came through, she said, even driving the $232,397.55 check up from Texas to make sure it found the Atteberrys at their temporary home outside Joplin.
Cindy Atteberry, 57, was eager to pay off what she owed on the property that was once her home and figure out what she and Curtis, 63, would do next. The quicker she could get that check processed, the better. That's when the headaches really started, she said.
She was told the check couldn't be handled at the local Joplin Bank of America branch; it had to be sent to Simi Valley, Calif. In the case of the Atteberrys check, records and statements show that Bank of America moved at its own pace, and often in 14-day windows.
"We consider five to seven days to be reasonable processing," said Gonder in the attorney general’s office. "If it goes past that, we encourage residents to call, and we will intervene."
MORE DELAYS
After sending the check to California, Cindy Atteberry was notified by Bank of America that she had to declare in writing what she intended to do with the money that wasn't going toward paying off her mortgage.
"That's ridiculous," Cindy Atteberry said. "It's none of their business. And I told them that. They told me it would take 14 days to process my check. That's ridiculous, too."
But without a letter, the processing would be completely stalled.
Postal records provided by the Atteberrys to the Globe show that the envelope containing the letter of intent was signed for at Bank of America in Simi Valley on Wednesday, June 22; a worker at Bank of America later told Cindy Atteberry it wasn't received until nearly a week later, Tuesday, June 28.
Time passed.
On Tuesday, July 5, Cindy Atteberry was notified by phone that her loan would be paid off by that afternoon, some 14 days after she says the letter of intent arrived at Bank of America's Simi Valley office, and that the balance of the money would be mailed to her July 19, another 14 days later.
It was then that Cindy Atteberry decided she needed help. She contacted the attorney general's office and Richard, chairman of the Senate Interim Committee on Natural Disaster Recovery. Both looked into her situation.
On Thursday, July 7, the mortgage payoff had still not been made.
Cindy Atteberry was angrier than ever after opening a manila envelope with a July 1 California postmark.
It contained a smaller, self-addressed return envelope that she'd sent along with the insurance check, so Bank of America could mail a new check to her. The envelope was empty.
There was no letter of explanation.
"Someone went to all the trouble to get a manila envelope?" Cindy Atteberry said. "To mail an empty envelope? Are you kidding me?"
Her voice rose as she displayed the empty envelope.
A SUDDEN CHANGE
But she also got a message that day, July 7, from a woman in property claims at Bank of America, asking for a call back.
The automated phone system doesn't make it easy to return a phone call from an employee in Bank of America's property claims office, but Cindy Atteberry eventually connected with the woman who wanted to talk with her.
"She apologized for the way I had been treated," Cindy Atteberry said. "She said that's not how they want to do business."
Cindy Atteberry said the caller also told her that the money still owed to the couple after the mortgage payout, about $178,000, would be expedited and sent by overnight delivery.
Contacted by the Globe by phone on Friday, the woman in Bank of America's property claims office said she couldn't talk and referred questions to the media relations office. A Bank of America spokeswoman said out-of-state "researchers" would have to look into the case before any response could be made. She had no comment about Bank of America's general business practices, or the attorney general's five-- to seven-day time frame for "reasonable" turnaround on checks.
Cindy Atteberry checked her voice mail and email Friday for the tracking number she said the woman on the phone told her she'd receive after the check was shipped. She didn't hear from Bank of America.
The following statement was sent from Bank of America to a Joplin Globe reporter in response to questions about the Atteberry's experience, check processing times, and comments contained in this story from the Missouri attorney general's office and Richard, the state senator:
"We understand that a natural disaster such as this can be difficult for everyone who is impacted by it, as the Atteberrys were. Generally, it takes approximately 14 days from the date we receive the letter of intent from the homeowner to process the check request. In this case, we received the Atteberry's letter on June 28, and completed the check request on July 7. The actual check should be sent as early as Monday."
The statement did not address the bank-signed June 22 date of delivery or the comments from the state officials.
TRACKING COMPLAINTS
The Missouri Senate Interim Committee on Natural Disaster Recovery chaired by Richard comprises three subcommittees, including insurance response. Preliminary reports are due to him by Sept. 14.
In the meantime, Richard said he and his staff are working to stay on top of things as they develop, especially complaints like Cindy Atteberry's. "Most of those have been resolved with a phone call" from his office or the state attorney general's office, he said.
Perhaps it's not surprising that some companies have been slow in their handling of paperwork and funds, Richard said.
The May 22 tornado directly affected more than 30 percent of Joplin, causing estimated damage of as much as $3 billion.
"There is no textbook for a disaster like this," Richard said. "Still, that is no excuse."
Complaints
To file a complaint with the Missouri attorney general’s office: http://ago.mo.gov/consumercomplaint.htm.
It's important that you read this article out of my local paper carefully to understand what is going on..
The article below is about the fact that many people in Joplin are having a hard time getting banks, especially Bank of America, to turn over the insurance money due them.
The couple discussed received a $232,397.55 check from their insurance company promptly after their home was destroyed by the disastrous May 22nd tornado which destroyed a full 30% of our town and affected virtually everyone within it.
The owners of the home are in a big hurry to payoff their loan balance and move on with their life. Make plans for the future, etc.
This couple is owed $178,000 after paying off their outstanding mortgage debt. Apparently they were well insured.
As I said, they received the money they were due promptly from their insurance company so what's the problem?
Bank of America has been dragging their feet about sending the $178,000 check for many weeks now..
The the attorney general's office had this to say "We consider five to seven days to be reasonable processing," said Gonder in the attorney general's office. "If it goes past that, we encourage residents to call, and we will intervene."
As I said they have been waiting weeks and still have not received their money from Bank of America.
So I got to wondering why that would be.. How would it be advantageous for Bank of America to delay sending this money to it's rightful owner?
The first thing(s) that popped into my head were things like.. Well the delay is so Bank of America can "use" the money a little bit longer, to draw interest on it as a deposit or whatever.
Then something dawned on me..
Could what has happened here in Joplin Missouri (ie; the May 22nd tornado) be causing a "bank run" to occur?
Because we use something called Fractional Reserve Banking (see here and here) the available funds at a bank (called bank reserves) are only a fraction (called the reserve ratio) of the quantity of deposits at the bank.
---
Excerpt from the story..
After sending the check to California, Cindy Atteberry was notified by Bank of America that she had to declare in writing what she intended to do with the money that wasn't going toward paying off her mortgage.
"That's ridiculous," Cindy Atteberry said. "It's none of their business. And I told them that. They told me it would take 14 days to process my check. That's ridiculous, too."
---
So my question is this..
Could the 3 billion dollars in damage from the May 22nd tornado be causing an unexpected bank run at many of the nation's largest banks as they are required to pay these insurance checks?
And lets not forget that Bank of America IS bankrupt.. Owned by the U.S. government and tax payers..
Just wondering in Missouri..
Full story below and link provided
Thanks
Greg
---
July 9, 2011
Couple still waiting for bank to return balance of insurance check
By Laura Kelly
news@joplinglobe.com
JOPLIN, Mo. When Cindy and Curtis Atteberry were rescued from their basement May 22 and saw that their home and everything in it was gone, they felt lucky. They were alive. They were insured.
Seven weeks later, Cindy Atteberry is frustrated. Angry. Outraged. And she has plenty of company.
At least 40 Joplin property owners have filed complaints with the Missouri attorney general's office, most about mortgage companies holding on to large insurance checks.
"And we assume there are others who have not contacted this office," said Nancy Gonder, spokeswoman for Attorney General Chris Koster.
State Sen. Ron Richard, of Joplin, said his office had also received complaints, "especially about Bank of America."
Cindy Atteberry, who knows something about finances, she's president and CEO of Joplin Metro Credit Union, says she's not just fighting for herself but for others in her community who won't or don't know what they should do.
"They are holding my money, using my money," she said. "That's my money. Why are they doing this to us? Don't they know this is a national disaster?"
HEADACHES
When the weather looked threatening that Sunday afternoon in May, Curtis and Cindy Atteberry went down to the basement of their tri-level home with their two little dogs "just in case."
When they saw the patio furniture flying by the window, they ran for a closet. Curtis Atteberry fought unsuccessfully with the wind to close the door, and "we felt things just swell up," said Cindy Atteberry, "like it was going to pull us out of there."
When it was all over, the stairwell was full of who-knows-what. One of the dogs was missing. People above helped free the couple from the rubble.
"One of my first thoughts was: "I hope to God I'm well insured,"" she said.
She was. And the company came through, she said, even driving the $232,397.55 check up from Texas to make sure it found the Atteberrys at their temporary home outside Joplin.
Cindy Atteberry, 57, was eager to pay off what she owed on the property that was once her home and figure out what she and Curtis, 63, would do next. The quicker she could get that check processed, the better. That's when the headaches really started, she said.
She was told the check couldn't be handled at the local Joplin Bank of America branch; it had to be sent to Simi Valley, Calif. In the case of the Atteberrys check, records and statements show that Bank of America moved at its own pace, and often in 14-day windows.
"We consider five to seven days to be reasonable processing," said Gonder in the attorney general’s office. "If it goes past that, we encourage residents to call, and we will intervene."
MORE DELAYS
After sending the check to California, Cindy Atteberry was notified by Bank of America that she had to declare in writing what she intended to do with the money that wasn't going toward paying off her mortgage.
"That's ridiculous," Cindy Atteberry said. "It's none of their business. And I told them that. They told me it would take 14 days to process my check. That's ridiculous, too."
But without a letter, the processing would be completely stalled.
Postal records provided by the Atteberrys to the Globe show that the envelope containing the letter of intent was signed for at Bank of America in Simi Valley on Wednesday, June 22; a worker at Bank of America later told Cindy Atteberry it wasn't received until nearly a week later, Tuesday, June 28.
Time passed.
On Tuesday, July 5, Cindy Atteberry was notified by phone that her loan would be paid off by that afternoon, some 14 days after she says the letter of intent arrived at Bank of America's Simi Valley office, and that the balance of the money would be mailed to her July 19, another 14 days later.
It was then that Cindy Atteberry decided she needed help. She contacted the attorney general's office and Richard, chairman of the Senate Interim Committee on Natural Disaster Recovery. Both looked into her situation.
On Thursday, July 7, the mortgage payoff had still not been made.
Cindy Atteberry was angrier than ever after opening a manila envelope with a July 1 California postmark.
It contained a smaller, self-addressed return envelope that she'd sent along with the insurance check, so Bank of America could mail a new check to her. The envelope was empty.
There was no letter of explanation.
"Someone went to all the trouble to get a manila envelope?" Cindy Atteberry said. "To mail an empty envelope? Are you kidding me?"
Her voice rose as she displayed the empty envelope.
A SUDDEN CHANGE
But she also got a message that day, July 7, from a woman in property claims at Bank of America, asking for a call back.
The automated phone system doesn't make it easy to return a phone call from an employee in Bank of America's property claims office, but Cindy Atteberry eventually connected with the woman who wanted to talk with her.
"She apologized for the way I had been treated," Cindy Atteberry said. "She said that's not how they want to do business."
Cindy Atteberry said the caller also told her that the money still owed to the couple after the mortgage payout, about $178,000, would be expedited and sent by overnight delivery.
Contacted by the Globe by phone on Friday, the woman in Bank of America's property claims office said she couldn't talk and referred questions to the media relations office. A Bank of America spokeswoman said out-of-state "researchers" would have to look into the case before any response could be made. She had no comment about Bank of America's general business practices, or the attorney general's five-- to seven-day time frame for "reasonable" turnaround on checks.
Cindy Atteberry checked her voice mail and email Friday for the tracking number she said the woman on the phone told her she'd receive after the check was shipped. She didn't hear from Bank of America.
The following statement was sent from Bank of America to a Joplin Globe reporter in response to questions about the Atteberry's experience, check processing times, and comments contained in this story from the Missouri attorney general's office and Richard, the state senator:
"We understand that a natural disaster such as this can be difficult for everyone who is impacted by it, as the Atteberrys were. Generally, it takes approximately 14 days from the date we receive the letter of intent from the homeowner to process the check request. In this case, we received the Atteberry's letter on June 28, and completed the check request on July 7. The actual check should be sent as early as Monday."
The statement did not address the bank-signed June 22 date of delivery or the comments from the state officials.
TRACKING COMPLAINTS
The Missouri Senate Interim Committee on Natural Disaster Recovery chaired by Richard comprises three subcommittees, including insurance response. Preliminary reports are due to him by Sept. 14.
In the meantime, Richard said he and his staff are working to stay on top of things as they develop, especially complaints like Cindy Atteberry's. "Most of those have been resolved with a phone call" from his office or the state attorney general's office, he said.
Perhaps it's not surprising that some companies have been slow in their handling of paperwork and funds, Richard said.
The May 22 tornado directly affected more than 30 percent of Joplin, causing estimated damage of as much as $3 billion.
"There is no textbook for a disaster like this," Richard said. "Still, that is no excuse."
Complaints
To file a complaint with the Missouri attorney general’s office: http://ago.mo.gov/consumercomplaint.htm.
Saturday, July 9, 2011
The Simple Fix for America
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I harp a lot about wake up.. stop being a sheeple.. do something about it..
I harp about the corruption of our political system. How no American can or even should have any trust or confidence in the current system within which we all find ourselves trapped.
All politicians are corrupt, greedy self serving fools. Our banks and corporations so incompetent as to destroy their own customer base in their race for ever increasing profits at all costs.
Most all of that has "changed" already..
These days the power elites are about nothing more than survival.. Nothing more than continuing the game a little bit longer.. Frightened to death over their impending loss of power and wealth.
The collapse of all will come one day.. In my opinion it will come in the not too distant future. At some point the money printing and lying must stop.
We can help usher in this new era of American evolution. And it would be very simple..
The power elite exist solely for power and wealth. That is their only collective goal in life. They have no soul.
If we the people will only unite and loudly proclaim enough is enough and it must stop now!
We don't NEED politicians to make promises to us that they will fix our problems. It is time that we clean up our own mess.
All we have to do is stop participating in the system in mass. Don't spend money, accumulate and horde it like the elites. Don't borrow money. Don't use credit at all. Credit is NOT money. Apparently they don't teach that in our de-education system. A small amount of sacrifice by enough Americans will bring the elite to their knees. Put off ALL purchases that are not absolutely necessarily.
You see.. money is the source and sustenance of their power. The elite can never have enough of it. That's what greed is. That's what greed does.
Grow as much of your own food as possible to worry less about food inflation. Make your own bread, it's cheaper, better for you and tastes better.
Stop buying clothes. Stop buying food in restaurants who egregiously over charge for the content of the food. Stop buying shoes and bikes and haircuts.
Just until we are finished with the very important work at hand.
Move to the country. Get out of the cities. You are trapped within the confines of a large city. Just moving to the country eliminates your water bill (with a well), your gas bill (heat with wood), your sewer bill (a septic tank), and even your electric bill if you can invest in solar power.
Going green is good. It saves you money and, at the same time, takes money away from the elite.
Use the tested and trusted methods of civil disobedience and peaceful resistance. Do not cooperate. IF you are in desperate shape financially due to job loss and impossibility of finding work don't pay your bills. Don't make your car payment or your house payment. Just leave. They can't find you.
File (chapter 7 ONLY) bankruptcy and you will owe nothing! With a few exceptions, taxes and student loans.
Your money is worthless already. Not only is it worthless it isn't even real. It is nothing but paper. And that is what it's worth. Once upon a time it was back by gold but no longer. Not since 1971. This is a fiat system. Paper money, easily manipulated by the elite powers that be.
Should the power elite decide to do so, in a "crisis" of one sort or another, they could tell you that "Oh! By the way, beginning tomorrow your money will be worth 40% less than it was today." This is the sort of power they wield over us.
The elite control through inflation and they have for many decades now. Monetary manipulations behind the scenes, out of sight of the public, is the favorite tool. The tool most often used to see to it that, if there is pain to be borne, it will be borne by we the people, not the power elite.
If a sufficient number of Americans would follow this simple advice we can win and win quickly.
Simply remove the money from the elite and they will have no reason to exist.
Unite to destroy the corrupt system we are trapped within. Eagerly seek the collapse of government and our debt based ponzi scheme economy. Participate in the destruction of the institutions of US Empire, all of them.
So we, the people, can build anew. A society based on the rule of law. Devoid of greed and corruption. One with no need of, or use for, elites and their empty lying promises.
These things are simple to accomplish. However they require the cooperation and coordination of millions of Americans working together to build a better future for themselves and their children.
Please help spread the word. Please help save the world. Please help humanity evolve to and higher plane.
If we do not do this, and do it soon, we will simply be at the mercy of elite dictatorial kleptocrats forever.
Greg
I harp a lot about wake up.. stop being a sheeple.. do something about it..
I harp about the corruption of our political system. How no American can or even should have any trust or confidence in the current system within which we all find ourselves trapped.
All politicians are corrupt, greedy self serving fools. Our banks and corporations so incompetent as to destroy their own customer base in their race for ever increasing profits at all costs.
Most all of that has "changed" already..
These days the power elites are about nothing more than survival.. Nothing more than continuing the game a little bit longer.. Frightened to death over their impending loss of power and wealth.
The collapse of all will come one day.. In my opinion it will come in the not too distant future. At some point the money printing and lying must stop.
We can help usher in this new era of American evolution. And it would be very simple..
The power elite exist solely for power and wealth. That is their only collective goal in life. They have no soul.
If we the people will only unite and loudly proclaim enough is enough and it must stop now!
We don't NEED politicians to make promises to us that they will fix our problems. It is time that we clean up our own mess.
All we have to do is stop participating in the system in mass. Don't spend money, accumulate and horde it like the elites. Don't borrow money. Don't use credit at all. Credit is NOT money. Apparently they don't teach that in our de-education system. A small amount of sacrifice by enough Americans will bring the elite to their knees. Put off ALL purchases that are not absolutely necessarily.
You see.. money is the source and sustenance of their power. The elite can never have enough of it. That's what greed is. That's what greed does.
Grow as much of your own food as possible to worry less about food inflation. Make your own bread, it's cheaper, better for you and tastes better.
Stop buying clothes. Stop buying food in restaurants who egregiously over charge for the content of the food. Stop buying shoes and bikes and haircuts.
Just until we are finished with the very important work at hand.
Move to the country. Get out of the cities. You are trapped within the confines of a large city. Just moving to the country eliminates your water bill (with a well), your gas bill (heat with wood), your sewer bill (a septic tank), and even your electric bill if you can invest in solar power.
Going green is good. It saves you money and, at the same time, takes money away from the elite.
Use the tested and trusted methods of civil disobedience and peaceful resistance. Do not cooperate. IF you are in desperate shape financially due to job loss and impossibility of finding work don't pay your bills. Don't make your car payment or your house payment. Just leave. They can't find you.
File (chapter 7 ONLY) bankruptcy and you will owe nothing! With a few exceptions, taxes and student loans.
Your money is worthless already. Not only is it worthless it isn't even real. It is nothing but paper. And that is what it's worth. Once upon a time it was back by gold but no longer. Not since 1971. This is a fiat system. Paper money, easily manipulated by the elite powers that be.
Should the power elite decide to do so, in a "crisis" of one sort or another, they could tell you that "Oh! By the way, beginning tomorrow your money will be worth 40% less than it was today." This is the sort of power they wield over us.
The elite control through inflation and they have for many decades now. Monetary manipulations behind the scenes, out of sight of the public, is the favorite tool. The tool most often used to see to it that, if there is pain to be borne, it will be borne by we the people, not the power elite.
If a sufficient number of Americans would follow this simple advice we can win and win quickly.
Simply remove the money from the elite and they will have no reason to exist.
Unite to destroy the corrupt system we are trapped within. Eagerly seek the collapse of government and our debt based ponzi scheme economy. Participate in the destruction of the institutions of US Empire, all of them.
So we, the people, can build anew. A society based on the rule of law. Devoid of greed and corruption. One with no need of, or use for, elites and their empty lying promises.
These things are simple to accomplish. However they require the cooperation and coordination of millions of Americans working together to build a better future for themselves and their children.
Please help spread the word. Please help save the world. Please help humanity evolve to and higher plane.
If we do not do this, and do it soon, we will simply be at the mercy of elite dictatorial kleptocrats forever.
Greg
Friday, July 8, 2011
GLENN BECK WARNS OF CATASTROPHIC EVENT & NEEDING TO STOCKPILE FOOD
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There is absolutely nothing wrong with being prepared to care for yourself and your family.. Do it! Please..
---
Greg
There is absolutely nothing wrong with being prepared to care for yourself and your family.. Do it! Please..
---
Greg
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