Credit card limit due to hacking breach. Yea right.

There has been report stating that credit card information has been stolen from Target POS servers. To protect the "public" customers are limited to only $100 withdraws and $200 purchases per day. There has also been reports that credit card information has been stolen from Giant grocery store.

Due to QE to infinity currency reset will come. Lindsey William talks about this.

Here are the facts.
1. Fiat currency is debt and hence what we consider money is not wealth but debt. No debt, no money.
2. In order to pay off the debt, it will take over $50,000 per every men, women and child in the US. http://www.usdebtclock.org/ This cannot happen.
3. The US dollar is losing its reserve currency status. Other countries are dumping the dollar in bilateral trade with each other.
4. When these unwanted dollar comes back to US, the SHTF.
5. When a country monetize its own debt, inflation/hyperinflation happens and we are seeing more of this.
6. The US is an empire just as Rome was an empire and the British was an empire. When the cost of keeping this empire rises, the empire will crumble.
7. There are more people on government handout than ever before. This includes people on food stamps, people working for the federal and local government, contractors etc...

I see a problem coming and having capital control is one of the first steps. It will be easy to control credit card/debit card by stating that a security breach happen. You control people's money, you control them.

I have not heard much about this in the media, so I wanted to pass along this information.

Quote: AceCrAAckers

Target POS servers.

Point of Service or Piece of S***?

If they get more consolidated areas of financial service, the damage could be worse. If it takes out a smaller branch of the entire financial system we can survive attacks.

The Target security breach was largely an inside job. The rest of the post is psychobabble.

Quote: FleaStiff

The Target security breach was largely an inside job. The rest of the post is psychobabble.

If facts are psychobabble, I am guilty. Glad you are thinking for yourself flea, with well articulated argument rather than stating some giberish.

Quote: AceCrAAckers

To protect the "public" customers are limited to only $100 withdraws and $200 purchases per day.

Limited by whom? Visa? Mastercard? Discover? Amex? All 4? Individual banks? All banks? Credit/debit cards are issued by private companies to private citizens. Surely all of those private companies haven't uniformly placed these limits on their cards. And surely they haven't taken that step in the week before Christmas.

So you're shorting Treasuries and buying gold like mad, no? Seems that's the logical response to your facts, such as they are.

Quote: AceCrAAckers

There has been report stating that credit card information has been stolen from Target POS servers. To protect the "public" customers are limited to only $100 withdraws and $200 purchases per day. There has also been reports that credit card information has been stolen from Giant grocery store.

Do you have a source for this claim? I have not heard anything about extraordinarily low limits in response to this breach.

Shit could hit the fan soon, or not. We had hyper-inflation in the early 80s and everyone survived.

Quote: rdw4potus

Limited by whom? Visa? Mastercard? Discover? Amex? All 4? Individual banks? All banks? Credit/debit cards are issued by private companies to private citizens. Surely all of those private companies haven't uniformly placed these limits on their cards. And surely they haven't taken that step in the week before Christmas.

Just call your credit card company and change your card number. That's what I did.

Quote: rdw4potus

Limited by whom? Visa? Mastercard? Discover? Amex? All 4? Individual banks? All banks? Credit/debit cards are issued by private companies to private citizens. Surely all of those private companies haven't uniformly placed these limits on their cards. And surely they haven't taken that step in the week before Christmas.

JP Morgan Chase limited the withdraws.

There is a quote by a reporter who said that nobody wants gold because it is not backed by anything like the dollar. The dollar is backed by full faith and credit of US government.

We live in an Orwellian world. All animals are equal, some are more equal than other. Dollar is not worth a dollar. We are not educated and basic questions as to where money comes from and what gives it value are not taught in schools. All fiat currencies have gone to their intrinsic value of 0. This is a fact. There is a life cycle for fiat currencies.

It is a mathematical fact that the dollar will collapse. And yes, I believe in hard assets such as gold and especially silver. Name something else that is cheaper now than in 1980. There aren't too many other things one can name. Long distance phone call is cheaper. I can't name anything else. Silver has the second most use of any commodity, second only to oil.

As far as the credit card limit, would it be much of a stretch to say that all bank transactions are limited because of a breach? I cannot say for certain what caused this, but strange financial things are happening. We are learning new bs terms like "haircuts", "bail ins", QE, and no one seems to be really bothered by it. Wait till a currency reset happens and then the dollar is not going to be worth a dollar.

This happened in many countries, there is no reason to believe it cannot happen here.

Quote: AceCrAAckers

JP Morgan Chase limited the withdraws.

.

As a chase customer I can confirm. Today they already eased up and upped a cash withdrawal to $250 and purchases capped at $1,000

Quote: harvson3

So you're shorting Treasuries and buying gold like mad, no? Seems that's the logical response to your facts, such as they are.

Thats a valid point. The enemy of FIAT currency is HARD currency. What we saw along these lines in the last 2 years was a move back to FIAT, as the gummint was talking easing. Some trimming, but a healthy economy?... not even close. Even in the faux-healthy economy 2003-06, Gold was a solid $400, when the veneer was taken away, up to $1900. Everyone had to hedge, and now that hedge is being removed, because, after all a 4-5% divi beats the bonds. So Mr. Market is in fashion this past year. Next year?... who knows (although theres a lot of guessing). But if inflation returns with serious high rates, $100 Grand at 10% for 5 years might not be a bad option.