U.S. Treasury orders survival kits

A curious read - edit: I like the blanket "for those long lonely nights in the empty bank vault"

"The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation.

The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets.

The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4.

The survival kits must come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first aid kit with “decongestant tablets,” a variety of bandages, and medicines.

The kits must also include a “reusable solar blanket” 52 by 84 inches long, a 2,400-calorie food bar, “50 water purification tablets,” a “dust mask,” “one-size fits all poncho with hood,” a rechargeable lantern with built-in radio, and an “Air-Aid emergency mask” for protection against airborne viruses."

http://freebeacon.com/issues/treasury-department-seeking-survival-kits-for-bank-employees/

spring2 wrote:

Thanks, the graphic is better than reading the article for the itemization. Edit to add: this isn't apples to apples, but gives a good read of a standard closure versus a system collapse that would be like the wild wild west. But based on that kit if they're serious about all they can do is lock themselves in for a short period of time and wait for the banking 'cavalry' that likely will never arrive.

http://www.npr.org/templates/story/story.php?storyId=102384657

"At 5:01 p.m., a small team enters the Bank of Clark County. They're a casual group, just two FDIC agents and a Washington state regulator, and they head straight for the CEO's office. And this is when it happens: They deliver the news. They tell him his bank is undercapitalized and has failed.

At 5:03 p.m., an agent positioned by the CEO's office door, types the news into a BlackBerry. It is received by everyone on the FDIC takeover team, including the FDIC's manager on location, Ron Hodges.

"At 5:04, we receive the notification that the bank had been declared failed," Hodges says. "It's that simple."

A minute later, FDIC agents begin closing in on the bank. A few are already inside, quietly and discreetly securing the cash and the vaults."

quietobserver wrote:

A minute later, FDIC agents begin closing in on the bank. A few are already inside, quietly and discreetly securing the cash and the vaults."

Does that have anything to do with this?

US BUDGET BILL STEALTHILY ALLOWS BANKS TO USE FEDERAL DEPOSIT INSURANCE TO COVER SWAPS AND DERIVATES
https://watchermeet-up.forumotion.com/t10626-us-budget-bill-stealthily-allows-banks-to-use-federal-deposit-insurance-to-cover-swaps-and-derivates-congress-has-agreed-to-use-federal-deposit-insurance-which-was-designed-to-protect-the-savings-acc

Lovisa wrote:

quietobserver wrote:

A minute later, FDIC agents begin closing in on the bank. A few are already inside, quietly and discreetly securing the cash and the vaults."

Does that have anything to do with this?

US BUDGET BILL STEALTHILY ALLOWS BANKS TO USE FEDERAL DEPOSIT INSURANCE TO COVER SWAPS AND DERIVATES
https://watchermeet-up.forumotion.com/t10626-us-budget-bill-stealthily-allows-banks-to-use-federal-deposit-insurance-to-cover-swaps-and-derivates-congress-has-agreed-to-use-federal-deposit-insurance-which-was-designed-to-protect-the-savings-acc

That was an example of the FDIC moving in during a bank "failure". The real problem is the FDIC Reserve Fund only has enough $$$ to cover 1.5 to 2.0 % of insured deposits nationwide in the event of bank runs or a systemwide failure. If the derivatives market crashes you'll see bail-ins instead of bail-outs. As I read it, in basic terms, the depositor is no longer the priority to the bank WHEN this thing goes down. The depositor (checking, savings, etc.) will be late in line when vying for insolvent bank assets. (Subordinated debt) Remember MF Global? Sorry, we used your cash to pay down debt to JP Morgan the night before bankruptcy, even though the depositors money is supposed to be in a segregated account.

edit: think of it like buying "stock" in a bank. If it fails, your 'stock' i.e. deposit is worthless.

I've banked with the same credit union for over 25 years. Credit unions aren't covered by the FDIC but are covered under something called the NCUA (National Credit Union Administration). Wonder if it's any more stable?


http://www.ncua.gov/about/Pages/default.aspx

researcher wrote:

I've banked with the same credit union for over 25 years. Credit unions aren't covered by the FDIC but are covered under something called the NCUA (National Credit Union Administration). Wonder if it's any more stable?


http://www.ncua.gov/about/Pages/default.aspx

"Administered by the National Credit Union Administration, the NCUSIF is backed by the full faith and credit of the U.S. Government."

http://www.ncua.gov/dataapps/pages/si-ncua.aspx

Quote :

"Administered by the National Credit Union Administration, the NCUSIF is backed by the full faith and credit of the U.S. Government."

Well that gave me about as much relief as a warm incontinence trickle running down my leg.

researcher wrote:

Quote :

"Administered by the National Credit Union Administration, the NCUSIF is backed by the full faith and credit of the U.S. Government."

Well that gave me about as much relief as a warm incontinence trickle running down my leg.

The FDIC supposedly is as well, but with different structure and terms & after all, the 'C' is for corporation.

Could be wrong, but I look at it like this, in a SHTF situation the scumbags in the district wouldn't want a boomer full of submariners worried about their NFCU account back home.

Place stock in hand tools, seeds, rain gear, camping equipment etc. Just til the Lord comes for you... no sense in being uncomfortable.... and maybe you can share something with a truly needy kid or ?? but be careful!

spring2 wrote:

Place stock in hand tools, seeds, rain gear, camping equipment etc. Just til the Lord comes for you... no sense in being uncomfortable.... and maybe you can share something with a truly needy kid or ?? but be careful!

Here's some interesting reading on the 'history' of 'interesting' periods of time.

http://redressone.wordpress.com/amss/

Not saying I'm not 100% in agreement, but he has some good condensed, accurate history.