MIDNIGHT BLUE - Chat Posted By Maryrose
[Midnight Blue] Banks in the United States typically hold less than 10%, and even less than 5%, of their customers' savings. This is particularly true among smaller regional banks.
BB&T bank is holding about a ratio of just 2.4%. In the UK, the British regulators are allowing some banks (Lloyds, Royal Bank of Scotland) to plug their gaping capital deficits with FUTURE earnings.
The balance sheets of insurance funds and sovereign governments are in even worse shape. The global reset will NOT cure most of these problems. Be very careful with your funds after the exchange.
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[Robertprofessor] Midnight Blue Banks may want to lock us into keeping our money tied up for a long period to meet Basil 3 deposit requirements? Some shaky banks may fail and we lose uninsured deposits?
[Midnight Blue] Robertprofessor It will be wise IMo to diversify everything, banks, currencies, metals, investments and countries, I.E. dual CITIZENSHIPS.
[Robertprofessor] Midnight Blue I have all of that in my plans. ty If I want to place some of mine in a smaller bank, should I ask what percentage they keep on hand? How should I ask this? Will they answer? How can I verify?
[Midnight Blue] Robertprofessor Yes and yes, ie yes you should ask ratio and yes it will be hard to verify. You should also ask, how many loan assets on the books are in default and potential of default.
[sunny] Midnight Blue I hear folks that have Canada/US dual citizenship may end up paying taxes on the rv in both countries.
[Midnight Blue] sunny Chile and Beliez are relatively easy to get dual citizenships and are democractic governments
[mykitty] I HAVE A QUESTION FOR MIDNIGHTBLUE. WHAT IS THE ADVANTAGE OF HAVING DUAL CITIZENSHIP?
[Midnight Blue] mykitty Money in a country that you have dual citizenship is usually not subject to USA taxes. If they go to pot in one country, you have a safe haven.
It may be easier to travel in some regions of the world with non USA passports. Our governmnet will have a more difficult time tracking every move, place and dime spent or invested if you do so using another passport and as a citizen of another country.
If USA confiscates metals, they can ask USA citizens to return their metals held in foriegn countries, but NOT if things held under a different countries citizenship, etc, etc.
[imperium] Midnight Blue :: ALL US citizens, regardless of where they live or how many passports they have, are always fully obligated to file and pay taxes to the USA/IRS. The only time this stops is when a US citizen "expatriates" from the USA (gives up their US citizenship)..
[Midnight Blue] imperium That is true, but most countries have treaties that monies held or earned under their citizenships are not subject to double taxation by the USA government. If you do NOT have a citizenship in that country, then you are correct.
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