How secure is our money!

[deronmoped]

So I just got done reinstalling my OS because of Malware.

Turns out you can get Malware from pretty much anything nowadays. You get a "PopUp", do not close it out like normal, open up "Task Manager" and close it in there. The hackers are getting more and more sophisticated. You click on something and you could end up clicking on a "disguised" download button.

So, that got me to wondering on how safe our money is, that is, money in our banks...

Turns out, it's not all that safe. I checked my banks website about security and they did not leave me with the feeling that they got a handle on keeping our money secure. They tell you to change your password "often", keep a eye on the account to make sure nothing out of the ordinary is going on. They even told me they were working on better security measures. I talked to a couple of bank people and they even give me the impression that if you get hacked, your bank account could be emptied "without" your authorization.

This has me thinking, that I need to do something. Such as, only keep enough operating capital in the bank, or I could spread the money around into multiple accounts or spread the money around into multiple banks. Under the mattress even sounds like a good idea, heck, the banks pay you zip in the way of interest, so no real reason to leave it in there.

 

[Drunkskunk]

6 months ago I was a victum of Identity theft. I use random numbers and letters on all my passwords, and none are the same, but They still got an email account of mine, from there they got enough information to social engineer their way into everything else. They even got into my bank account. Luckily, my bank doesn't allow you to move money online. you can see your account, but from the web you can't do anything directly. I was safe, I managed to get everything cleared up, and all was well.
But if my bank had allowed money to be moved, I'd be in real trouble right now. I use a small town bank that's focused on customer service, and they aren't afraid to be inconvient when common sense dictates security before convienance.

 

[wineboyrider]

EXPLODING THE MYTHS ABOUT MONEY

Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by private money lenders. Thomas Jefferson called them “bold and bankrupt adventurers just pretending to have money.” Except for coins, all of our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.

Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as "derivatives," which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn't enough money in the entire global economy to bail out the banks from a massive derivatives default today.
http://www.webofdebt.com
For the record there is note even enough paper dollars to circulate the world over. In other words if everyone withdrew their money there would not be enough fiat dollars in circulation to cover the debt.
Have a great weekend!

 

[dkw12002]

Lots of theives out there. Mastercard just sent me a new card with a new number..said they were concerned my card had been compromised and to destroy it. I always check over my charges and I didn't see anything unusual, but something obviously happened. I notice Yahoo mail did the same thing...made me change my login due to suspicions someone had been accessing my email. Dang. We're already a paranoid lot seeing as how easy it can be to get your bike stollen. The biggest sale around is the annual police sale on stollen bikes in my area. Pawn shops seem to have a lot of bikes too. So my daughter tries to apply for an SAT exam and gets nearly through the application online and it tells her someone has already signed in previously under a different user ID. That was HER of course a year ago when she was looking up something from the College Board. Now she can't remember that ID so she gets locked out. What a pain.

 

[Sunder]

You're right, your money isn't safe, but it isn't the bank's fault. It's usually either the merchants fault, or the user's fault.

Name one bank that has been broken into directly. For every one you name, I can probably name 100 merchants that were insecurely storing credit card details. Or I could name people who logged into their banking software at an internet cafe. Or a user who went to a dodgy website, opened up inappropriate email, or jail broke their phone without changing the root password - then logged onto their banking software from the phone.

I also can't believe that people are happy to give out their birthdays to almost anyone - ranging from signing up to Endless Sphere or Facebook, to entering a competition in a shopping mall. Not to mention some website nobody's ever heard of, that needs a "password recovery question" that asks you what your mother's maiden name is.

Your money is as safe as you make it. After one bad experience where a merchant gave me a receipt with my CVV printed on it (Instant disconnection of your credit card payment service, if your acquiring bank catches you at it), I'm more careful about where I shop, and who I give my details to.

And sure - everyone slips up once in a while - or a seemingly trustworthy merchant will (Try TJX) but then, the bank will insure you, as long as you demonstrate you took reasonable steps for your own security.

 

[dogman dan]

I knew an old German chemist, now a US citizen, who was just about the right age to have seen some funky crap in WW II.

When I would do odd jobs for him, he'd open his wallet and pay cash. Typically, about 20 or more $100 bills in there. One of his hobbies was collecting gold watches, another form of cash he was familiar with I'm sure. When he died the heirs found he had quite a bit of gold coin in the house.

He had a lot in banks too, quite a lot, that he left to the university chemistry dept for scholarships. But he sure had his doomsday stash nice and tidy. I'd say at any time in less than 15 min he was able to beat feet with about $10,000 in cash, gold and jewlery. Even in the USA for 50 years, he clearly wasn't going to be caught without cash ever again.

 

[nechaus]

I use to be a fraud analyst for a pretty massive online company...
the amount of fraud rings i monitored and busted was incredible... (mostly within the poker industry)

My friend, he was travelling around over sea's.. he actually stopped in @ china and logged into his hotmail account on a public computer.
about 2 months later an IP address hacked his hotmail, then hacked his ebay,

He found this out because all the sudden he could not log in to ebay, he looked up his account and about 10 apple note books were being sold, Fake items for very cheap. He quickly notified ebay, they shut his account down... apparently it was all done from china.

This really is not a sophisticated method as other... but it really could have ripped people off.
after working at this job, using FBI standard facilities.. I now make sure all my personal mail gets burnt or shredded.
Never give anyone your CC details over the phone, There has been fraud rings pretending to be Banks or Telco company's requesting CC payments for a overdue account.

I put limits on all my accounts so no more then 1k can be withdrawn at one time.
big withdrawals i go to the bank


Maybe WWIII will be a cyber war

 

[motorino magnet]

EXPLODING THE MYTHS ABOUT MONEY

Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by private money lenders. Thomas Jefferson called them “bold and bankrupt adventurers just pretending to have money.” Except for coins, all of our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.

Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as "derivatives," which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn't enough money in the entire global economy to bail out the banks from a massive derivatives default today.
http://www.webofdebt.com
For the record there is note even enough paper dollars to circulate the world over. In other words if everyone withdrew their money there would not be enough fiat dollars in circulation to cover the debt.
Have a great weekend!

WOW-thanks-that web of debt woke me up !

 

[wineboyrider]

No problem. I think if more people knew the truth about their "money" the whole charade would end. It's just like in the movie the Wizard of Oz when everyone discovers the little man behind the curtain pulling the strings. Another fact about money most people don't know is: Most of the national debt is not owed, because we allow private banks to print money when it is the government (any sovereign government)that has the exclusive right to print money. IT IS STUPIDITY TO PAY INTEREST ON PRINTED MONEY TO A PRIVATE ENTITY. If the government would get the interest from the "right" to print money we would be debt free in no time and the Federal Reserve banking cartel would be out of business.
How is that for positive thinking.
8) 8) 8) 8) 8)

 

[nechaus]

I was under the impression, The way the system currently is, its impossible for it to become a positive Dollar, Their always has to be debt to keep it going.

Do you think this is true?
In the last 200/300 years, their has been more scientific growth, more technology growth than the past 10,000 years...
It feels to me we are in the boom time or something..

 

[oatnet]

So this book was written by a civil lawyer, with no previous experience with economics, but has instead written (10) books on homeopathic medicine... I thought a few of those assertions didn't fit with reality, now I see why.

-JD

EXPLODING THE MYTHS ABOUT MONEY
Our money system is not what we have been led to believe. The creation of money has been "privatized," or taken over by private money lenders. Thomas Jefferson called them “bold and bankrupt adventurers just pretending to have money.” Except for coins, all of our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.

Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as "derivatives," which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn't enough money in the entire global economy to bail out the banks from a massive derivatives default today.
http://www.webofdebt.com
For the record there is note even enough paper dollars to circulate the world over. In other words if everyone withdrew their money there would not be enough fiat dollars in circulation to cover the debt.
Have a great weekend!

 

[wineboyrider]

The answer is really so simple that most complicated minds probably can't put their hands (ass) on it. The right to print money does not belong to a group of private "secret" cartels or does it? Your answer will permanently put you on my ignore list. The book itself is spectacularly brilliant and simple at the same time as for the other books she wrote.. don't know I haven't read them and I currently have no interest either. :? :?

 

[wineboyrider]

I was under the impression, The way the system currently is, its impossible for it to become a positive Dollar, Their always has to be debt to keep it going.

Do you think this is true?
In the last 200/300 years, their has been more scientific growth, more technology growth than the past 10,000 years...
It feels to me we are in the boom time or something..

Your first paragraph describes "fractional reserve banking" to a tee.
Your last paragraph describes massive keynesian bubble to a tee. The problem with pumping up economies with "printed" money is that eventually the bubble(s) can't be primed anymore and we end up with what Keynes described as the "liquidity trap".
This is the age of Austrian Economics believe it.

 

[Sunder]

This old argument again. I think some people want to believe in conspiracies and have an excuse as to why they feel like they're being left behind.

Creating new loans does not devalue anyone's money, because in order for someone to borrow, someone must save. All lending does is keep the same money flowing. If the money flows faster than supply can keep up, sure, inflation may result, but hey, if we didn't lend, chances are, money would flow so slow, you'd have oversupply and we'd be in deep recession. Why do you think liquidity crises and recession are going hand in hand? Why do you think the US has record unemployment and record reserves? Coincidence? I think not.

Money is a medium. All it does it allow someone with supply and someone with demand to connect and trade in a convenient and trustworthy way. The number on the front is just the relative value we put on it. So, sure it costs you half an hours wage to buy a hamburger. Your half hour wage is say $5. After a couple rounds of quantitative easing by the fed, and both your wage and the hamburger doubles in price. Are you any worse off? You still need to work half an hour to get a hamburger. You're only worse off if you held cash. If the price of everything doubles - including labour - then what have you lost?

You know one of the biggest self delusions we have? What we're worth. In Australia there's a big uproar over electricity prices. The Electrical trades union has been getting 5-6% pay rises for years - but they're fought for, hard won and well deserved - despite the fact there's been no change in efficiency or productivity. After a few years, the electricity suppliers want to put up charges by 15%, but this has nothing to do with the 15% increase in wages. Those CEOs on 300k salaries are thieves! Greedy bastards! We should cut off their wages, and return... err, about 1/3rd of a cent to each customer per year.

See what I mean? Wages go up, and that feeds through to prices, leaving people where they always were. But wage increases are always deserved, and price increases are always unjustified, and is "proof" of conspiracy to keep the rich, rich and the poor, poor.

Maybe one caveat that I may allow is that if you're on the minimum wage and aren't getting pay rises equal or greater than CPI, then yeah, you have something to complain about. For everyone else, put your money in an inflation hedge, and make sure you get the payrise you deserve.

 

[wineboyrider]

This old argument again. I think some people want to believe in conspiracies and have an excuse as to why they feel like they're being left behind.

Creating new loans does not devalue anyone's money, because in order for someone to borrow, someone must save. All lending does is keep the same money flowing. If the money flows faster than supply can keep up, sure, inflation may result, but hey, if we didn't lend, chances are, money would flow so slow, you'd have oversupply and we'd be in deep recession. Why do you think liquidity crises and recession are going hand in hand? Why do you think the US has record unemployment and record reserves? Coincidence? I think not.

Money is a medium. All it does it allow someone with supply and someone with demand to connect and trade in a convenient and trustworthy way. The number on the front is just the relative value we put on it. So, sure it costs you half an hours wage to buy a hamburger. Your half hour wage is say $5. After a couple rounds of quantitative easing by the fed, and both your wage and the hamburger doubles in price. Are you any worse off? You still need to work half an hour to get a hamburger. You're only worse off if you held cash. If the price of everything doubles - including labour - then what have you lost?

You know one of the biggest self delusions we have? What we're worth. In Australia there's a big uproar over electricity prices. The Electrical trades union has been getting 5-6% pay rises for years - but they're fought for, hard won and well deserved - despite the fact there's been no change in efficiency or productivity. After a few years, the electricity suppliers want to put up charges by 15%, but this has nothing to do with the 15% increase in wages. Those CEOs on 300k salaries are thieves! Greedy bastards! We should cut off their wages, and return... err, about 1/3rd of a cent to each customer per year.

See what I mean? Wages go up, and that feeds through to prices, leaving people where they always were. But wage increases are always deserved, and price increases are always unjustified, and is "proof" of conspiracy to keep the rich, rich and the poor, poor.

Maybe one caveat that I may allow is that if you're on the minimum wage and aren't getting pay rises equal or greater than CPI, then yeah, you have something to complain about. For everyone else, put your money in an inflation hedge, and make sure you get the payrise you deserve.

What you are describing is all price controls and is not "free market" economics. I think what you are trying to say is that inflation is good and natural. Contrary to most Keynesian beliefs inflation is almost all caused by printing money. Too many dollars chasing too few goods. Inflation is a heinous and secret tax (no it's not a conspiracy). Inflation is brought about by the printing of money to keep the welfare state and warfare state alive. It's like believing in Santa Claus and the Grim Reaper at the same time. Electrical rates are going up globally, because of a real life conspiracy to restrict green house gases aka CO2 one of the biggest hoaxes ever foisted upon the human race. The idea of clean air or getting rid of pollutants is valid, but the fact that the government has the right to allow one entity to pollute and another not to is just as fallacious as the idea that central planners can control currency. All of this comes to a head Sunder, because Austrian economists believe that economic laws are just like natural laws and sooner or later all of the intervention will come to a head a judgement point. The good news the US dollar is the longest lasting fiat currency, yet known. The bad news: It will fail it is historical and natural fact and it will fail badly.

 

[Sunder]

What you are describing is all price controls and is not "free market" economics. I think what you are trying to say is that inflation is good and natural. Contrary to most Keynesian beliefs inflation is almost all caused by printing money. Too many dollars chasing too few goods. Inflation is a heinous and secret tax (no it's not a conspiracy). Inflation is brought about by the printing of money to keep the welfare state and warfare state alive. It's like believing in Santa Claus and the Grim Reaper at the same time. Electrical rates are going up globally, because of a real life conspiracy to restrict green house gases aka CO2 one of the biggest hoaxes ever foisted upon the human race. The idea of clean air or getting rid of pollutants is valid, but the fact that the government has the right to allow one entity to pollute and another not to is just as fallacious as the idea that central planners can control currency. All of this comes to a head Sunder, because Austrian economists believe that economic laws are just like natural laws and sooner or later all of the intervention will come to a head a judgement point. The good news the US dollar is the longest lasting fiat currency, yet known. The bad news: It will fail it is historical and natural fact and it will fail badly.

With the exception of printing cash, I am talking about a free market - well, a low intervention market anyway. I'm not saying that the government doesn't do jack (It can't do nothing - they are one of the largest spenders in any economy, so even by doing nothing, they're doing something.) What I'm definitely not talking about though, is price control.

A low stable inflation is good: The Reserve Bank of Australia has a target of 2-3%. Not 0%, not deflationary. Why? It keeps employment up.

How do they do this? They change human behaviour, by setting interest rates. Interest rates go up, and everyone wants to save, and nobody wants to borrow. They effectively slow the flow of money, dampening demand. If they lower interest rates, then nobody finds it worthwhile saving, and people find it easier to borrow. Money flows, and demand goes up.

It's all about how fast money is changing hands, and loans are just one method the government has to control that. (Well, the fed in the US, but more or less the same thing).

 

[wineboyrider]

Money is a medium. All it does it allow someone with supply and someone with demand to connect and trade in a convenient and trustworthy way.

Yes, absolutely, but when the trust fails then there is currency collapse (not good). And the we all will be back to the barter system and real goods (kind of like gold) Gold is money my friend it is and always will be the hedge against runaway sovereign currency/debt. :lol: :lol: :lol: :lol: :lol: :lol:

 

[Sunder]

Money is a medium. All it does it allow someone with supply and someone with demand to connect and trade in a convenient and trustworthy way.

Yes, absolutely, but when the trust fails then there is currency collapse (not good). And the we all will be back to the barter system and real goods (kind of like gold) Gold is money my friend it is and always will be the hedge against runaway sovereign currency/debt. :lol: :lol: :lol: :lol: :lol: :lol:

Gold is only money when people accept it. Imagine a post apocalyptic world. Does anyone have any use for Gold when it has no industrial value, and people care not for jewellery?

Or imagine if a scientist today, said he built a particle accelerator that could turn led into gold by firing protons into it - cheaply.

Gold became money because of its maleability and since there's no way to counterfeit it. It kept value for that purpose and industrial use. If that changes, then its worth about as much as fiat money.

 

[wineboyrider]

It's also hard to destroy it or produce more of it (aka inflate) it!

 

[oatnet]

The answer is really so simple that most complicated minds probably can't put their hands (ass) on it.

The answer here is that billions of really, really poor people in the Asia-Pacific have recently been connected to the Global Economy, and a whole lot of things are going to change.

Labor is a commodity, just like wheat or gold or pork bellies. With all these new people, the supply of labor went way up, so the price of labor went way down, and jobs flew overseas to find that cheap commodity. The wages we fat Americans were used to, are gone forever. The jobs will be gone until we are willing to work for the same price as folks in third world countries. If you want those jobs back, get the government to reduce minimum wage to 10 cents an hour. If you think that is inhumane, think of the billions who consider themselves lucky to get that, and how they lived when we were Fat and Happy at Home. In fact, the situation won't stabilize until those billions are just as fat and happy as we are; they are going to get a whole lot richer, and we are going to get a whole lot poorer.

I would agree with you that there are "private cartels" running the USA today. We can't vote them out of office, we have no control over them, but they run our government. Instead, Truth and US citizens are collateral damage in a war between the entrenched political machines of democrats and the republicans. Both machines have repeatedly sold-out to special interests to maintain an edge - from the Moral Minority, to Banking, to Big Business. Now that the "Hanging Chad" supreme court has granted corporations the right to make unlimited contributions to Political Campaigns, republican and democratic armies are fighting their economic battle. The US government is broken, I don't see a way to fix it, but I know that electing more democrats and republicans is not the answer. George Washington was prophetic when he said that Political Parties would destroy the American Way of Life.

Inflation has good traits too. Without it, China could just sit on our dollars until they had all of them; inflation forces them to spend it. Without it, the democratic/republican excesses of the past 12 years would bankrupt our nation. If you have toiled to make investments, you can put them into inflation-neutral commodities like gold or property. If you don't have money set aside to invest, the good news is you won't lose any to inflation. You might have challanges buying food and cigarettes, but that has more to do with jobs going overseas than inflation.

If you want to get pissed about inflation, get pissed about the imaginary numbers the US government has fed us for 50 years - every year they cherry-pick commodities in the inflation index, until it matches their target spec, so we see 3% instead of 10%. A lot of inflation we are "seeing" today, actually occured 10-20 years ago - we just had the world fooled. The housing market bubble was an example of pent-up inflation. Or get pissed about GDP, which actually has nothing to do with what we make, instead measuring what we spend.

 

[wineboyrider]

If you want to get pissed about inflation, get pissed about the imaginary numbers the US government has fed us for 50 years - every year they cherry-pick commodities in the inflation index, until it matches their target spec, so we see 3% instead of 10%. A lot of inflation we are "seeing" today, actually occured 10-20 years ago - we just had the world fooled. The housing market bubble was an example of pent-up inflation. Or get pissed about GDP, which actually has nothing to do with what we make, instead measuring what we spend.

Actually, I am not pissed about any of it and I know that the numbers are inflated and controlled by the elite and GDP has changed from GNP and unemployment figures are "figured" differently. The real rate of unemployment is much higher. As far as minimum wage goes, I don't think the government can or should fix any prices or goods. Austrian economics teaches that it's only goods and services that are consumed that matters. In other words it doesn't matter if your house cost $1 or $1,000,000,0000 it is still a house. The problem with the money system is the one's that control it and I am still hoping more people will wake up and realize it.

 

[motorino magnet]

"How secure is our money ? "

Its not secure because it is based on fantasy and not any fact.


It is based on lies and how much they think they can deceive while they laugh and get richer at Ur expense

http://www.youtube.com/watch?v=HRduwYgrU7A&feature=related

how can the truth be so covertly covered?

?

let us suggest we are "owned"?

we are are on a tiptoe tiptoder ,like when we where in kindergarten when some big bully tried to steal our cookies ?

remember?

Do you let him ? again?

 

[oatnet]

"How secure is our money ? "
Its not secure because it is based on fantasy and not any fact.

That describes any fiat currency - which is what every government uses today, with few exceptions. I see the problem with fiat currencies, I just recognize the problems we've had that lead us to adopt one.

The other option is to use hard currency, like gold or silver. However, using something with intrinsic value for money presents a whole host of problems. First, the money supply is then affected by changes in the gold or silver supply - like when the US was almost bankrupted in the 1800's, when the supply from massive new silver mines rapidly devalued our existing money supply. Second, a nation's economy can only be as big as it's supply of that hard currency - new business can't open if existing businesses are tying up all the money in the supply. Thirdly, there isn't enough gold or silver to service just the daily transactions individuals make (buying lunch, etc), let along service businesses, or keep up with population growth.

-JD

 

[motorino magnet]

So...what do we do now ?




see the problem?See that there is no immediate solution ?


Problem is the whole thing is based on a cloud that can turn into a thunderstorm and rain on all the people...


what will happen when we all get wet and hungry?

I think the masses and the numbers will win.

plus we all will be the thinkers since we will be driving around with the answers on our e bikes :wink:


get solar power-it will be safe money 8)

 

[motorino magnet]

The pipelines of oil...keystone...Harper's new Asian west line...

http://www.cbsnews.com/8301-503544_162-57361324-503544/obama-denies-keystone-xl-pipeline-permit/?tag=stack

hard to believe ?

http://www.ctv.ca/CTVNews/TopStories/20120115/qp-northern-gateway-pipeline-debate-120114/

she better looking and smarter than sara?

http://www.ctv.ca/CTVNews/TopStories/20101108/harper-israel-101108

this is wht scares me the most

https://www.youtube.com/watch?v=ytlmREPuzwE


does he look stupid and scarey like oboma and bush too ??

I'm like the Dixie chicks...I'm ashamed that the prime minister is from Canada

its all the same bullshit ?

what is the hope for the world of people who want to find a creative solution?