Banks and Credit Unions

[sumdumguy]

Can anyone tell me where banks are lending my
money and what foreign banks are indebted to
them and therefore me? Also who backs the
Credit Unions 100%? i never see anything in
writing or tangible fact.

[BTO_farmall]

Don't Know, But Know Lotta Guys Gunna Be Gettin a Call From Their Banker in Bout a Month er Two!!!!!!! Daling-Daling!!!!!! Daling-Daling!!!!!! Daling-Daling!!!!!!!!!

[LEP]

Credit Unions are backed by the credit union deposit
guarantee corp. They have all paid a toll to generate
assets in the corp. name.

I don't think there are that many $ there.

I am not sure if the government or insurance backs
things beyond that.

[batman]

banks and credit unions have there butt covered better than fcc if land prices crash will the pcs let everyone buy there land back at one third to half like they did 20 years ago

[sumdumguy]

If FCC has abandoned the principles of
productive value, then they should be kicked out
by the government, if we have a government.

[hobbyfrmr]

FCC is a lender, whereas the banks and CU take
deposit.
I have an old neighbour who was very deep in
debt in the 80's. his motto was "don't worry about
the money you owe, let the guy/bank whom lent
you the money worry about it.
Same guy, just sold half his farm for millions.
Now, his concern is, if he banks it, how much is
he allowed to deposit that is covered by a deposit
security/insurance. So, he owed money all his
productive years and paid it down. Now , he is
more worried than ever, tax management issues,
and where to park his cash in order not to lose it.
My employee was looking to park his life savings
and , the CU' s seem to offer a lower rate but
guarantee the entire deposit. I have never seen
this document from any bank or CU. Then again,
I never had much cash on deposit to ever really
worry about and basically too ignorant to ask. It's
probably in the small print somewhere!

[perfecho]

Don't keep cash...keep assets that work for you! Or maybe it's just an excuse why I don't have cash....;-)

[ALLFARMER]

Same here perfetcho

[carebear300]

I think as I recall that deposits are garanteed by the government up to 100,000 dollars per client per institution,by the Canadian Deposit Security Commission(name is something like that) The credit unions always claim that they are 100 percent guaranteed but I don't know for sure by who likely the government.
Somebody let me know the whole truth now I am intersted.

[rodedgar]

There is 100%guarantee with Credit Union Deposit Guarantee, a fund built up over many years. The 100% is based on the idea that all CU's won't fail at once. So if your local CU goes under, your deposits are guaranteed. But your local CU now is a small branch in big Cu, so I doubt the fund would work in a massive failure. It will work if you repaid all your loans to the Cu, then they have the money. But in a massive failure and run on deposits, where will you get another loan to pay off the CU?
I hope we never see it happen.

[cottonpicken]

Sum,i've spent time on this and have not found
anything reliable.

The ceo of nova scotia bank(?) was on bnn a while
back and they asked him a direct question as to his
exposure to europe and he said"we are exposed,but
i'm not going to tell you how much",so just from that
i think you have to do your own speculation.

3 trillion dollar system,200% gdp
canadian mortgage size 1.2trillion of which 600
billion is nationalized through cmhc
Average leverage ratio 15-20%

Unescapable mathmatical facts:if the assets of the
average bank decline 10 percent,the bank is done

If 10 percent of deposits leave the bank,the bank is
done aka bank run

So when,not if,the credit default swap(bond
insurance) system implodes,what are those bonds
worth?

Many arguments have been made that ALL banks are
insolvent.

[HappyFarmer]

I have had this same argument with my
friend, and bank manager i don't know
how many times cotton. He tells me that
are 100% free and in the clear if all
hell breaks loose.

If a bank/credit union are carrying a
500k mortgage and that asset falls in
value to 200k, there isn't anyone out
there who can protect themselves from
that losses, regards of who is
guaranteeing any loan or deposit!

[cottonpicken]

Typo-15-20xlevered;some european are 40 to 1.

I tried to find a way in on naked cds in the
toronto/vancouver credit unions but couldn't, the
only way to capatilize is to short the europe
financials,but now i wonder with new "bail in" curve
ball throwen at us.

Seems to be another hail marry pass to provide
stability to the system,which is running out of time
and options.

In the end the debt has to be flushed.

[wedino]

[sumdumguy]

Where is our government?