Questions about bank accounts and dollars

There have been multiple posts on the various sites about the Dodd Frank Act accounts and TAG accounts and "dollars". Here are some claims made in the last day or two, can anyone confirm any of this with a link to a government or bank writing?

1. Dodd Frank accounts are kept in UST notes backed by gold or other assets and will not devalue the same as Federal Reserve Notes in regular accounts if the dollar devalues. (I'd love to see how that would work in the real world)

2. You should get a TAG account. ( I see no official writing extending these beyond Dec. 2010, link please if there is such a writing).

4. UST notes have already been printed.

5. Federal Reserve notes will be replaced by UST notes.

google, Dodd Frank unlimited insurance fdic

I have already opened a TAG account at Arvest Bank in Tulsa, ok. The letter posted at the bank said the acct is good til Dec, 2012. Or at least the part abt depositing ANY mat is good til then. The banker also researched it and said this is true. The only thing is, the acct has to be opened between Dec 2010 and Dec 2012 to qualify. Hope this helps.

why do i think trusting the fdic is a mistake. i dont care what name you call the account its still depend on the government holdind the notes. if push comes to shove the fdic could say , hey we tried sorry you lose

Why not a Canadian bank or credit union? That would seem 100% safer to me,unless someone knows something I don't-

bobd wrote:why do i think trusting the fdic is a mistake. i dont care what name you call the account its still depend on the government holdind the notes. if push comes to shove the fdic could say , hey we tried sorry you lose

what do you think about U.S. Treasury bills, notes and bonds being back by the full faith and credit of the U.S. ? that statement and the reality of its veracity is the ONLY thing keeping the world afloat right now.

SORRY BUT FULL FAITH AND VERACITY WITH THE GOOD OLD U S IS AN OXYMORON. I WOULD LIKE TO KNOW WHO HIS ULTIMATLY HOLDING THOSE NOTES .

Interesting, no one was able/willing to address ANY of my questions. I have googled Dodd Frank act and there is unlimited insurance on non-interest bearing accts until Dec. 31, 2012., but did not see anything about these accounts being backed by UST notes or gold, did you?

Inquisitive one, I doubt very much if you opened a TAG (Transaction Account Guarantee) as the FDIC site says this program ended on Dec. 31, 2010. What you have is a Dodd Frank transaction account. As far as you, the depositor are concerned, both the TAG and the Dodd Frank operate the same, unlimited insurance. This program ends Dec 31, 2012, unless they extend it. The TAG account had some differences and it cost the banks extra fees to have it and that is why banks could opt out of the program, they cannot opt out of the Dodd Frank accounts and all FDIC insured banks have the insurance and it applies only to non-interest bearing accounts.

Now, about these accounts being "backed by gold or other commodities" ae held in "UST notes that are backed by gold" and "won't devalue if the dollar devalues". And that "UST notes are already printed". Can anyone point to any writing other that what certain g---s have post on other sites as if these things were facts?

prosetian wrote:Interesting, no one was able/willing to address ANY of my questions. I have googled Dodd Frank act and there is unlimited insurance on non-interest bearing accts until Dec. 31, 2012., but did not see anything about these accounts being backed by UST notes or gold, did you?

Inquisitive one, I doubt very much if you opened a TAG (Transaction Account Guarantee) as the FDIC site says this program ended on Dec. 31, 2010. What you have is a Dodd Frank transaction account. As far as you, the depositor are concerned, both the TAG and the Dodd Frank operate the same, unlimited insurance. This program ends Dec 31, 2012, unless they extend it. The TAG account had some differences and it cost the banks extra fees to have it and that is why banks could opt out of the program, they cannot opt out of the Dodd Frank accounts and all FDIC insured banks have the insurance and it applies only to non-interest bearing accounts.

Now, about these accounts being "backed by gold or other commodities" ae held in "UST notes that are backed by gold" and "won't devalue if the dollar devalues". And that "UST notes are already printed". Can anyone point to any writing other that what certain g---s have post on other sites as if these things were facts?

Certainly not me,however why not do some more research and come back with the hard proof you seek,and share it with us,or perhaps pose your questions/queries directly to those who made the statements? :study:

As of now, the part of the act that gives the insurance is set to expie Dec. 31, 2012, so unless the congress acts, it is all moot.

dinarstar wrote:

prosetian wrote:Interesting, no one was able/willing to address ANY of my questions. I have googled Dodd Frank act and there is unlimited insurance on non-interest bearing accts until Dec. 31, 2012., but did not see anything about these accounts being backed by UST notes or gold, did you?

Inquisitive one, I doubt very much if you opened a TAG (Transaction Account Guarantee) as the FDIC site says this program ended on Dec. 31, 2010. What you have is a Dodd Frank transaction account. As far as you, the depositor are concerned, both the TAG and the Dodd Frank operate the same, unlimited insurance. This program ends Dec 31, 2012, unless they extend it. The TAG account had some differences and it cost the banks extra fees to have it and that is why banks could opt out of the program, they cannot opt out of the Dodd Frank accounts and all FDIC insured banks have the insurance and it applies only to non-interest bearing accounts.

Now, about these accounts being "backed by gold or other commodities" ae held in "UST notes that are backed by gold" and "won't devalue if the dollar devalues". And that "UST notes are already printed". Can anyone point to any writing other that what certain g---s have post on other sites as if these things were facts?

Certainly not me,however why not do some more research and come back with the hard proof you seek,and share it with us,or perhaps pose your questions/queries directly to those who made the statements? :study:

Now, I would be happy to bring back the proof either way, but how does one prove something does not exist or is untrue? When someone makes a claim without backing it up with evidence that it is true, it is on the presenter of the claim to proof his claim when questioned. Basic legal procedure, you make a claim, the proof is on you. I would address these questions directly to those making the claims, but I had previously done that to these protected providers of wrong info and, of course, lost posting priviliges there. I know people here have read these statements as they were put out by well known providers and hadn't seen any comments here, so thought I would ask if anyone had any genuine links about it.