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I have an older co-worker at work who is in his mid-50's. He says that we should not have our money in banks, but in credit unions. He says that even w/ FDIC insurance, the government can just seize our savings anytime they want. He says it has happened before in the past and it could happen again.

He says there is an exception to this. It will not happen to monies in credit unions, because they are owned by the members and it will also not happen to USAA bank, because they wouldn't do this to their members.

What do you guys think?

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I think that your worthwhile-topic-o'meter was off on this one.

glxpass (Jan. 09, 2011 @ 3:32p) |

YES< THE GOVERNMENT CAN TAKE EVERYTHING YU HAVE. THIS IS WHY I LISTEN TO GLENN BECK AND BUY GOLD

hatoraide (Jan. 10, 2011 @ 11:54a) |

I'm buying up Altairian dollars, Flanian pobble beads, and the Triganic Pu.

jaimelobo (Jan. 10, 2011 @ 2:17p) |

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He's making shit up.

ETA: Sure, if you owe taxes or there is some judgement against you, they can take money out of your account, but the same goes for credit unions.

He's DEFINITELY making shit up. And if he wasn't, wtf makes USAA so special? Or Credit Unions?

ablang said:   He says it has happened before in the past and it could happen again.Ask him to give you an example. He won't be able to.

Co-worker has a financial interest in USAA!

Sure, the government "could" seize any money it wants. Should it decide to start seizing citizen's money, it's not going to be stopped just based on the ownership structure of the institution.

Your friend is right that credit unions and USAA are member-owned. Sounds like he has taken this little bit of knowledge and run wild with it, spinning quite a yarn.

even, if you are believer that riots in the streets are coming --- I don't see the difference between a credit union or a bank

I don't knock survivalists however --- because gathering all the items you need for the end of the world can be kind of fun

use of various weaponry, having well-trained attack dogs, and stocking up on emergency supplies that can last for months is a good hobby

ablang said:   What do you guys think?

You work with at least one paranoid nut job who clearly doesn't know what he's talking about and has misunderstood what little he has read.

Hmm ....this older co-worker guy sounds like Creed from the Office.

The President appoints the board of the NCUA, and they can take control of any credit union.

They can seize your money any time they want. They will just do it by running up the debt, then when the market decides the US government is not credit worthy anymore the US$ will plunge and your money is close to worthless.

You shouldn't worry about the government seizing your savings. You should worry about me.

In fact, I'm doing it right now ~~ WITH MY MIND ~~

I think tin foil hats are the latest fashion.

ablang said:   What do you guys think?Depends, does this same co-worker still have all his Y2K supplies?

Just tell him it won't matter after Dec 21, 2012 anyway.

ensignlee said:   He's DEFINITELY making shit up. And if he wasn't, wtf makes USAA so special? Or Credit Unions?

Aside from not having to pay federal taxes?

ensignlee said:   He's DEFINITELY making shit up. And if he wasn't, wtf makes USAA so special? Or Credit Unions?

I disagree. He's not making shit up, he's listening to conspiracy theorists who are making shit up.

ablang said:   I have an older co-worker at work who is in his mid-50's. He says that we should not have our money in banks, but in credit unions. He says that even w/ FDIC insurance, the government can just seize our savings anytime they want. He says it has happened before in the past and it could happen again.

He says there is an exception to this. It will not happen to monies in credit unions, because they are owned by the members and it will also not happen to USAA bank, because they wouldn't do this to their members.

What do you guys think?



Yes! they all can and will take you money at any time now, including the credit unions and USAA!

Hide you money quickly now!

This is why I keep all my money under my matress!! Jokes apart ask him to prove his theory!

ablang said:   ... ...it will also not happen to USAA bank, because they wouldn't do this to their members. ...It will also not happen to NWFCU members, because many of them are CIA, so they're also in on the deal! (Actually, the 1st part of that statement is true.)

ablang said:    the government can just seize our savings anytime they want. He says it has happened before in the past and it could happen again.

Usually, it occurs around April 15 of each year.

justanotheruser said:   Hide you money quickly now!

Hide yo kids! Hide yo wife! And hide yo husbands too...cause they robbin' evrybody out here!

http://www.youtube.com/watch?v=hMtZfW2z9dw

Yes, the government can -- and does -- seize your savings every day. They can seize it whether it's in a bank, a credit union, or even cash under your mattress.

The process is called "inflation."

Since they have 99% of the people ignorant to this fact, why would they bother making a splashy seizure of a few bucks from a few citizens, one bank account at a time? Much more efficient to press a button, increase the money supply, and steal a little bit from a lot of people, with most of them none the wiser.

Snyder81 said:   justanotheruser said:   Hide you money quickly now!

Hide yo kids! Hide yo wife! And hide yo husbands too...cause they robbin' evrybody out here!

http://www.youtube.com/watch?v=hMtZfW2z9dw


Emergency! Everybody to get from street!

germanpope said:   even, if you are believer that riots in the streets are coming --- I don't see the difference between a credit union or a bank

I don't knock survivalists however --- because gathering all the items you need for the end of the world can be kind of fun

use of various weaponry, having well-trained attack dogs, and stocking up on emergency supplies that can last for months is a good hobby


Sure, but it turns out that the diesel for driving the tank is really expensive and its too tall for the garage, plus practicing fire making skills with used dollar bills gets really expensive, but I can't fit anymore in the mattress

ablang said:   I have an older co-worker at work who is in his mid-50's. He says that we should not have our money in banks, but in credit unions. He says that even w/ FDIC insurance, the government can just seize our savings anytime they want. He says it has happened before in the past and it could happen again.

He says there is an exception to this. It will not happen to monies in credit unions, because they are owned by the members and it will also not happen to USAA bank, because they wouldn't do this to their members.

What do you guys think?

I think that your worthwhile-topic-o'meter was off on this one.

YES< THE GOVERNMENT CAN TAKE EVERYTHING YU HAVE. THIS IS WHY I LISTEN TO GLENN BECK AND BUY GOLD

hatoraide said:   YES< THE GOVERNMENT CAN TAKE EVERYTHING YU HAVE. THIS IS WHY I LISTEN TO GLENN BECK AND BUY GOLDI'm buying up Altairian dollars, Flanian pobble beads, and the Triganic Pu.



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