Saturday, February 27, 2010

Does Attorney General Eric Holder Want to Violate Constitution with New Assault Weapons Ban to Lower Mexico's Drug Crime?

"My name is not Stedman"

The picture above is from ABC. I love how ABC plays with the images in this photo and has Attorney General Eric Himpton Holder, Jr.'s image superimposed over rows of guns. The picture basically implies that Stedman is coming for your guns. I doubt Holder will go door to door, but he certainly wants to ban "assault weapons" sales from this point forward.

"As President Obama indicated during the campaign, there are just a few gun-related changes that we would like to make, and among them would be to reinstitute the ban on the sale of assault weapons," Holder told reporters.

Holder said that putting the ban back in place would not only be a positive move by the United States, it would help cut down on the flow of guns going across the border into Mexico, which is struggling with heavy violence among drug cartels along the border.

"I think that will have a positive impact in Mexico, at a minimum."

Nevertheless, the Constitution and Second Amendment are not written for any other country's benefit except for the United States of America. If the Constitution and our laws indirectly provide a benefit to our neighbors and allies throughout the world, then that is a bonus. I'm all for helping Mexico combat its drug crime, but the need to lower drug crime in Mexico should never supersede the Constitutional protections for American citizens.

Source: SHTFPlan.com ; ABC News


California is Silent on Plans to Enforce Mandatory Water Fluoridation Order in Watsonville Despite Voters' Rejection

What can people do when the voters reject water fluoridation at the polls, but the State doesn't care? The State of Califoria plans to enforce the forced medication water fluoridation of Watsonville despite the voters voting fluoridation down back in 2002. The State sued and the Court issued a mandatory water fluoridation order, but the City has not yet complied.

The health department could impose daily fines if Watsonville fails to comply with a court order to fluoridate....

The city is in negotiations with the California Dental Association Foundation over a contract for a nearly $2 million grant to install fluoridation equipment and operate the system for two years.

I am not a fan of sodium fluoride being put in the water. I do not see any benefit from it being added to the supply. Sodium fluoride is a toxic poison and any alleged benefits are completely outweighed by this toxic fact.

Source: Santa Cruz Sentinel


Friday, February 26, 2010

FDIC Friday Night Feast (Failed Bank List as of February 26, 2010 - 2 Banks Closed Today - $103.1 Million Total Insurance Charge)

Bank Name

City

State

CERT #

Closing Date

Updated Date

Rainier Pacific Bank Tacoma WA 38129 February 26, 2010 February 26, 2010
Carson River Community Bank Carson City NV 58352 February 26, 2010 February 26, 2010

The FDIC closed two (2) banks on February 26, 2010 -- Carson River Community Bank in Carson City, Nevada and Rainier Pacific Bank in Tacoma, Washington.
The total amount charged against the FDIC insurance fund today is $103,100,000 (or $103.1 million). At this point, twenty-two (22) banks have closed this year.


Billionaire Financier Jim Rogers Predicts British Pound is Within Weeks of Collapse

**UPDATE (February 26, 2010) - The below press release has been withdrawn by the source, because the quoted remarks attributed to Jim Rogers were not approved.**

Pound Could Collapse Within Weeks, Predicts Billionaire Financier Jim Rogers

February 25, 2010 - Press Dispensary - The UK Pound is on the brink of a collapse which will herald a downturn worse than 2008/9, it could well happen within weeks and the British government is powerless to prevent it. And this in turn will foreshadow a global economic winter that could come before the end of 2010 and make the last two years seem like a mild spring day.

This is the dire prediction of the legendary George Soros’ former business partner, respected billionaire financier Jim Rogers, together with millionaire investment adviser and best-selling author Dr Marc Faber and the controversial millionaire trader and coach Vince Stanzione, ahead of their keynote appearances at next month’s Global Trading Day seminar in Westminster.

As the UK economy stands on the brink of its much heralded double dip after a dismal January and rumblings about its credit rating, as Swiss Bank UBS speculates the risk of a run on the pound*, and as sterling hit a nine month low against the dollar on Friday, the three experts – who all have reputations for making much of their fortunes from predicting and riding economic downturns – are forecasting that a currency crash and then a full scale global “shakedown” are almost inevitable.

“The last few months have seen a ‘false bounce’, shorn up by massive short-term injections of government underwriting,” says Rogers, “but it can’t last. We’ve been applying temporary sticking plasters, not long-term cures. Later this year we’ll see the start of the real recession, with more Lehman-scale disasters and a fallout which won’t stop until the underlying malaise is genuinely cured.”

And for the UK, it could begin with the Pound.

“Other currencies aren’t strong and the Euro has real problems, with cracks much wider than Greece beginning to show,” Rogers continues, “but it’s the Pound that’s most vulnerable. In real terms, it’s already devalued against virtually every currency barring the Zimbabwean dollar and it’s especially exposed over the weeks running up to the UK election. In a basket of currencies, the Pound is potentially a basket case. And that will put Britain in an extremely bad position for the shakedown.”

Jim Rogers famously clashed with Lord Mandelson, as reported in the Daily Telegraph** last year, after Rogers predicted just how far behind other economies Britain would be in returning to growth. History is proving Rogers right.

“It sounds like a lot of doom and gloom,” continues Rogers, partly in reference to Dr Marc Faber’s widely read monthly investment newsletter, ‘The Gloom Boom & Doom Report’. “But it doesn’t have to be. With foreknowledge, experience, advice and skill, even the steepest downward slide can be turned to advantage. Recession can be just as much a source of wealth as growth.”

Marc Faber, who won his moniker ‘Dr Doom’ after advising investors to pull out of American stocks one week before the 1987 crash, and who was one of only a few vocal investors to predict the present troubles, believes that America is on the brink of bankruptcy as it is wholly unable to service its debt***. But, like Rogers, he sees foreknowledge as an opportunity, not just a threat.

It is with all this in mind that Rogers and Faber are joining British investor, coach and author Vince Stanzione on the platform of the Global Trading Day seminar on March 19, 2010, in central London. All three are flying in especially for the day, to meet with investors who believe there’s investment wealth to be found in the coming market conditions and who want to learn its insider secrets from those who have already proven how effectively it can be done.

As Stanzione says, “If the billionaires are betting on a deep second dip, the rest of the investment community should be doing more than looking on from the sidelines.”

For more information about the Global Trading Day seminar, investors should visit http://www.traders2010.co.uk/ and media should visit http://www.traders2010.com/

- ends -

About Jim Rogers
James B. Rogers started trading the stock market with $600 in 1968 and by 1973 had formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire, at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds.

Although ‘retired’, Mr Rogers continues to invest and has many trading interests especially focused on emerging markets and commodities. In July 1998 he formed the Rogers Raw Materials Index which is up over 211% since inception making it the most successful world index in the past decade. He has also written a number of bestselling books including Investment Biker, Hot Commodities, Bull in China and Adventure Capitalist. He lives in Singapore.

About Dr Marc Faber
From 1978 to February 1990, Swiss investor and economist Marc Faber was MD of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, Marc Faber Limited, which acts as an investment advisor and fund manager. Dr Faber publishes a widely read monthly investment newsletter, ‘The Gloom Boom & Doom Report’, which highlights unusual investment opportunities, and is the author of several books including the Amazon best-seller ‘Tomorrow’s Gold - Asia's Age of Discovery’(2002) which highlights future investment opportunities around the world and is being translated into Japanese, Chinese, Korean, Thai and German.

Known as Dr Faber is well known for his ‘contrarian’ investment approach and is one of the most respected guests on Bloomberg Television with a massive following worldwide. His market calls have been extremely accurate - advising clients to sell stocks weeks before the 1987 crash. More recently he foresaw the market meltdown but unlike many perma bears he went positive on stocks in March 2009 before the massive bounce.

About Vince Stanzione
Vince Stanzione is a self-made multi-millionaire based in Europe. Beginning aged 16 at NatWest Foreign Exchange in London, he quickly made his mark and then left to form his own company, since when he has been involved in mobile communications, premium rate telephony, interactive gaming, publishing and television and financial trading. He currently lives most of the year between Spain and Monaco and trades his own funds, mainly in currencies and commodities. He also teaches a small number of students and produced the best-selling course on Financial Spread Betting.

Vince Stanzione is the author of 'How to Stop Existing & Start Living' and ‘Making Money From Financial Spread Trading’, is the Spread Betting Expert for Growth Company Investor and writes monthly columns for The City Magazine, Canary Wharf and Vicinitee Magazine.

References
* http://www.telegraph.co.uk/finance/currency/7310031/Tory-spending-cuts-risk-sterling-crisis-claims-UBS.html
** http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4861871/Peter-Mandelson-rejects-foolish-claims-by-Jim-Rogers-that-Britain-has-nothing-left-to-sell.html
*** http://www.managementtoday.co.uk/channel/Entrepreneurship/news/985633/buy-farms-gold-insists-faber-aka-dr-doom/

For further information, please contact:
Vince Stanzione Tel: 07712 651777

Thursday, February 25, 2010

Canada Approves "Enviropigs" for Food Supply to Reduce Pig Dung Phosphorus (Are These Mice-Pig Hybrid Creatures Coming to America?)

South Park & ManBearPig are copyrights and trademarks of Comedy Central. All Rights Reserved.

South Park called it many years ago. I don't really follow that show, but I first heard about ManBearPig from there. Needless to say that the show's creators were quite accurate, because Canada has just introduced an "enviropig." While ManBearPig roamed the Earth battering people for no reason, the enviropig is spliced together in a genetic laboratory - and now the enviropig is headed for the Canadian food supply.

An enviropig is a genetically modified pig where the pig's genes are merged with the genes from a mouse, so that the pig's dung waste is reduced.


Sources told the agency Environment Canada will announce approval of the strain known as "enviropigs" Saturday.

The Yorkshire pigs were developed by researchers in Ontario at the University of Guelph, who spliced in genes from mice to decrease the amount of phosphorus produced in the pigs' dung, the report said.

Source: UPI


Project GreenVax: DARPA & Texas A&M to Produce H1N1 "Swine Flu" Vaccines Using Tobacco Plants Instead of Chicken Eggs and Dog Kidney Cells

Texas-Based Consortium Announces Project GreenVax
February 24, 2010

COLLEGE STATION, Feb. 24, 2010 — Leaders of the Texas Plant-Expressed Vaccine Consortium today announced a biotherapeutic manufacturing initiative designed to show proof of concept for a landmark new technology that could dramatically increase the nation’s capability to produce vaccines for infectious diseases, including influenza.


Project GreenVax, which utilizes
tobacco plants rather than the current egg-based vaccine technology, holds the promise of shortening vaccine production to a fraction of the current time, allowing rapid response to newly emerging viruses not possible with current technology. The majority of funding for the project is provided by the Defense Advanced Research Projects Agency (DARPA).

The Consortium, comprised of G-Con, LLC and The Texas A&M University System, designed Project GreenVax for a projected final scale capacity of
100 million doses per month. The flexibility of the plant-based system, combined with its low cost and ability to massively scale, may provide vaccine protection not only to citizens of the United States, but to many parts of the world that cannot currently afford vaccines.

The GreenVax Project will be headquartered on a secure, 21-acre site on the campus of the Texas A&M Health Science Center in Bryan, Texas. The custom-designed 145,000 square foot biotherapeutic production facility will be constructed and managed by G-Con. The company will integrate their proprietary modular, mobile, clean room “pods” in which the specialized purification and laboratory equipment will be located. These pods, as well as the flexible processes and facility design that led to the GreenVax project, were designed and developed for the National Center for Therapeutics Manufacturing (NCTM) – a State of Texas core biological pharmaceutical manufacturing, research and education facility now in construction on the Texas A&M University campus, under the management of the Texas Engineering Experiment Station (TEES) and supported by the Texas Emerging Technology Fund.


“Project GreenVax and the NCTM are game-changers. They have the potential to transform not just vaccine production, but the entire biopharmaceutical manufacturing industry,” said Dr. Brett Giroir, vice chancellor for research for the A&M System and executive director of the Institute for Innovative Therapeutics (IIT), the newly established institute representing the partnership between the system’s multiple state-of-the-art research facilities.


“Although the initial goal is
to produce influenza vaccines,” added Dr. Barry Holtz, president of G-Con, “plant-based production is highly adaptable to other infectious diseases and even cancer.”

###


About the A&M System


The A&M System is one of the largest systems of higher education in the nation, with a budget of $3.2 billion. Through a statewide network of 11 universities, seven state agencies and a comprehensive health science center, the A&M System educates more than 115,000 students and makes more than 15 million additional educational contacts through service and outreach programs each year. Externally funded research expenditures exceed more than $676 million and help drive the state’s economy.


About G-Con, LLC


G-Con, LLC is a Texas-based company (
http://www.gconbio.com ) dedicated to bringing new technologies and processes to the therapeutic manufacturing industry. The Company’s mission is to revolutionize the biomanufacturing industry by providing comprehensive GMP manufacturing solutions that are cheaper to build, flexible, cheaper to maintain and easier to operate than any existing solution on the market. The company’s principals have 30 years experience in pharmaceutical facility design and operation and have brought first in class therapeutics from concept to the market.

Contact: Jason Cook at (979) 458-1729 or Rod Davis (979) 458-6023. G-Con media contact: Patricia Haigwood, (888) 934-6426 x700.


Harold Ford, Jr. vs. New York City's Stonewall Democrats on February 24, 2010 (Full Video)





Source: The New Civil Rights Movement

Wednesday, February 24, 2010

Latin America Nations Form New Alliance That Says It Doesn't Need the United States or Canada!

The United States is having trouble taking care of itself, so the other Nation States of the world are looking elsewhere for relationships and partnerships. In Mexico recently, the Latin American Nations agreed to a new alliance among the Nation States in Latin America and the Caribbean, but did not include either the USA or Canada. There is no love loss between the Latin America countries and the USA, but I wonder why Canada was excluded. Could it be that these Nation States do not want this alliance to beholden to Canada's Queen?

Latin American and Caribbean nations have agreed to create a new regional alliance, without the United States and Canada, Mexican President Felipe Calderon said at a summit here on Tuesday.

The bloc "must as a priority push for regional integration ... and promote the regional agenda in global meetings," Calderon told participants from 32 nations, including 24 leaders, at the beach resort of Cancun.

Source: Brisbane Times


U.S. Military Illegally Takes Newborn Babies' Blood for National DNA Database Without Parental Consent?

Wow, it is nice to know that the Texas State government is taking newborn babies' blood to build some national DNA database. Of course, the government is doing it without parental consent. Yet another example of ridiculousness and the trampling of individual rights.

A Texas Tribune review of nine years' worth of e-mails and internal documents on the Department of State Health Services’ newborn blood screening program reveals the transfer of hundreds of infant blood spots to an Armed Forces lab to build a national and, someday, international mitochondrial DNA (mtDNA) registry...

The Armed Forces DNA Identification Laboratory (AFDIL) scientists, in conjunction with the research branch of the Justice Department, approached Texas in a $1.9 million effort to expand the country’s mtDNA database — part of the President’s DNA Initiative launched under George W. Bush. The researchers wanted “anonymous and maternally unrelated” blood samples from Texas Caucasians, African-Americans and Asians — and from Hispanics and Native Americans in particular — to round out their genetic record.

Source: The Texas Tribune


Washington Supreme Court to Rule Whether Port Angeles Citizens Have Right to Bring Ballot Initiative Against Water Fluoridation

Lots of fluoride news this week, so I guess in wrestling terms, fluoride is getting a push. Here is a case in Washington where the people may get the right to vote against fluoridation. The Washington Supreme Court will rule on this anti-water fluoridation case within ninety (90) days.

The case, City of Port Angeles v. Our Water-Our Choice, had made its way up from the local courts in Clallam County all the way to the state's highest court...

Representing the anti-fluoride group, attorney Gerald Steel argued that the citizens of Port Angeles should have the right to bring an initiative on the ballot against the fluoridation of their water.

Source: The Olympian


Buy Farms, Land & Gold Says "Dr. Doom" Marc Faber in Tokyo

Dr. Doom. ™ and © Marvel Characters, Inc. All Rights Reserved.

I don't know who this Marc Faber is, but I certainly like his moniker "Dr. Doom." Victor Von Doom a/k/a Dr. Doom was always my favorite comic book villain. I don't know if I should be listening to Dr. Doom, but I certainly agree that people should be trying to buy farmland and gold. However, I don't know if I should be saying that, because it will only increase the demand for farms and I don't have one yet.

The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash...

“The next war will be a dirty war,” he told fund managers: "What are you going to do when your mobile phone gets shut down or the internet stops working or the city water supplies get poisoned?”

Source: Times Online


Tuesday, February 23, 2010

FLASHBACK: Construction Begins at Blue Lake Complex on Mount Gambier Water Fluoridation Plant Set to Open in 2010

Australia seems to be on the front lines in the Fluoride Wars, because every story I link to about fluoride leads down under to Australia with more and more jurisdictions trying to add this toxic compound to the local municipal water supplies. The latest battle is at Blue Lake and Mount Gambier.

Work began today to construct Mount Gambier's fluoridation plant, with fluoride expected to be added to the water supply next year.

Excavators began preparing for where the plant will be built, on the side of the road, just up from the pumping station.

SA Water says it'll take five months for the works to be completed.

"We anticipate residents will start receiving a fluoridated water supply by mid-2010," SA Water's chief operating officer John Ringham said in a statement.

Why are people forcibly medicated with this fluoridated water? Why can't people have a choice that also include an affordable supply of non-fluoridated water? No, if you are hooked into the municipal water supply, you will have to drink fluoride.

Luckily, there are groups fighting this fluoride mandate.

A group calling itself Choice says it will ask people if they want to support fluoridation and whether there should be a vote on the issue.

Sharon Stafford from Choice says volunteers will be aiming to get at least 10,000 signatures from people outside polling areas.

Source: ABC Australia


For further reading:


1. Advocates Push to Add Toxic Fluoride to San Jose Water Supply

2. Australian Bottled Water Companies Win Legal Battle to Add Poisonous Fluoride to Water!

3. World Health Organization: Nutrients in Drinking Water (2005) - FULL REPORT

4. City Water Worker Quits Over Water Fluoridation in Western Australia

5. Picture of the Day - Sodium Fluoride Operator Wearing Protective Clothing


Is a Solar Magnetism Filament Ready to Explode Into a Large Hyder Flare?

Basically, a hyder flare is a really, really strong solar flare. Lots of stuff happening these days on the Sun.

###

MAGNIFICENT MAGNETISM: NASA spacecraft and amateur astronomers alike are monitoring a staggeringly-long filament of magnetism on the sun. It stretches more than a million kilometers around the sun's southeastern limb:


Image credit: Solar and Heliospheric Observatory (SOHO)

As this movie shows, the filament has remained mostly stable for at least two days. However, similar filaments in the past have been known to collapse, and when they hit the surface of the sun--bang! A tremendous explosion called a "Hyder flare" results, sometimes rivaling the strongest flares produced by sunspots. Solar physicists have not yet learned to predict Hyder flares, so we cannot estimate the odds of one now. Readers with solar telescopes are encouraged to monitor developments.

more images: from C. Swiger and J. Stetson of South Portland, Maine; from Mark Townley of Brierley Hill, West Mids, UK; from Cai-Uso Wohler of Bispingen, Germany; from Alan Friedman of downtown Buffalo, NY; from Michael Wilk of Augsburg, Germany

Source: Spaceweather.com

Picture of the Day - Sodium Fluoride Operator Wearing Protective Clothing

Sodium fluoride is what the municipalities put into the water. People who work around fluoride have to wear protective equipment (like the operator above), because sodium fluoride is a poison. Therefore, poison is being added to the municipal water supply if the city's water is being fluoridated.

Image Source:
Choice Mount Gambier


Kangaroos Euthanized After Developing Deformities from Breathing & Ingesting Fluoride Emissions from Aluminum Smelter

The next time someone says that fluoride is harmless, please point to this article about the dozens of kangaroos who suffered fluoride poisoning from simply being around the dust and fumes. If the fluoride doing this to the kangaroos, what is it doing to the people who drink the fluoride-flavored municipal water on a daily basis.

SCORES of starving and pain-ridden kangaroos have been culled after developing tooth and bone deformities from breathing and ingesting fluoride emissions.

Many more are believed to be suffering from growths that will kill them.

The affected kangaroos are living near the Alcoa aluminium smelter in Portland, in the state's south-west, and the Austral Bricks factory at Craigieburn.

Source: The Age

Image Source: Quartl

***



Monday, February 22, 2010

Glenn Beck Now Believes in Man-Made Global Warming Theory Like Al Gore!

Global warming, my sine function!

I am not a fan of Glenn Beck and have never been a fan. His show is a juvenile presentation that is only mildly entertaining from time to time (i.e., when he was talking about Van Jones every day last summer). Nevertheless, Beck has lots of followers despite the fact his actions continually betray the interests of those same followers. Hopefully, people will wake up to the fact that Beck represents the "neo-con" agenda, but couches himself up as a libertarian/constitutionalist.


For example, Beck has previously argued against the man-made global warming position supported by Al Gore, but it now appears that Beck supports these global warming theories.

He believes in global warming

“You’d be an idiot not to notice the temperature change,” he says. He also says there’s a legit case that global warming has, at least in part, been caused by mankind. He has tried to do his part by buying a home with a “green” design and using energy-saving products. “I’m willing to do anything but use the CFLs,” he says of compact fluorescent light bulbs. “I put them in once and couldn’t stand the way they lit up the room.”

I would imagine that a majority of Glenn Beck's followers/listeners disagree with the Al Gore theory on global warming, so he is basically calling his audience idiots. And CFLs are not environmentally friendly, because the CFL bulbs contain mercury. If one drops and breaks a CFL bulb, there is a likely potential of mercury vapor contamination whereas one only has to worry about shattered glass with old school light bulbs breaking, and not deadly mercury.

Whenever I hear people discussing the planet's climate, I never hear them discussing the impact that the big ol' Sun has on the climate. The Sun's actions and reactions have much more of an effect on planetary climate than some dude driving an old school Cutlass. or a cow farting in Wyoming. Unfortunately, it seems that people are ready to line up and pay the global carbon tax for the right to live and breathe.


Source: USA Today Weekend

Image Source:
Arnas Gaudutis (all rights reserved)


Tracy California Residents Now Have to Pay $300 to Make 911 Emergency Calls!

Unbelievable. Aren't taxes at an all-time high? What are the people getting in return for these high taxes when most public services are being rolled back? It is ridiculous that people will now be required to pay for 911 like the people do in Tracy, California. If people are now going to be charged for these services, then individual taxes should be reduced.

But there are a couple of options. Residents can pay a $48 voluntary fee for the year which allows them to call 9-1-1 as many times as necessary.

Or, there's the option of not signing up for the annual fee. Instead, they will be charged $300 if they make a call for help.

Source: CBS-13 Sacramento


FDIC Friday Night Feast (Failed Bank List as of February 19, 2010 - 4 Banks Closed Today - $1.066 Billion Total Insurance Charge)

Bank Name

City

State

CERT #

Closing Date

Updated Date

La Jolla Bank, FSB La Jolla CA 32423 February 19, 2010 February 19, 2010
George Washington Savings Bank Orland Park IL 29952 February 19, 2010 February 19, 2010
The La Coste National Bank La Coste TX 3287 February 19, 2010 February 19, 2010
Marco Community Bank Marco Island FL 57586 February 19, 2010 February 19, 2010

The FDIC closed four (4) banks on February 19, 2010 -- Marco Community Bank of Marco Island, Florida; The La Coste National Bank in La Coste, Texas; George Washington Savings Bank in Orland Park, Illinois; and La Jolla Bank, FSB in La Jolla, California.


The total amount charged against the FDIC insurance fund today is $1,065,500,000 (or approximately $1.066 billion). At this point, twenty (20) banks have closed this year.


Citigroup Warns Customers It May Require Seven (7) Days Advance Notice to Withdraw Money from Checking Accounts


Is this report an omen pointing to bad things ahead in the banking industry? Is the long-rumored bank holiday going to finally happen? Well I don't know what is going to happen, but I do know that Citibank has issued a notice effective as of April 1, 2010 stating that it may refuse to allow a customer to withdraw monies from checking accounts for up to seven (7) days.

"Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country.

The above picture shows the official Citibank document and if you check out page 23, you will see the above image. Supposedly, this statement was made pursuant to required federal regulations, so for some reason, the government feels it necessary to communicate the above statement and potentially require a 7-day notice for all checking account withdrawals.

My question is "Why?"


Source: The Business Insider