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Examples
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Since the clearing process usually takes a few days, the kiter can use the $50,000 for a few days and then deposit it in the bank A account before the $50,000 check drawn on that account clears.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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The kiter writes a check for $50,000 on the bank A account and deposits it in the bank B account.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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The kiter writes a check for $50,000 on the bank A account and deposits it in the bank B account.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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If the kiter has good credit at bank B, he will be able to draw funds against the deposited check before it clears, that is, is forwarded to bank A for payment and paid by bank A.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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Since the clearing process usually takes a few days, the kiter can use the $50,000 for a few days and then deposit it in the bank A account before the $50,000 check drawn on that account clears.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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If the kiter has good credit at bank B, he will be able to draw funds against the deposited check before it clears, that is, is forwarded to bank A for payment and paid by bank A.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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For instance, a check kiter might have empty checking accounts at two different banks, A and B.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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For instance, a check kiter might have empty checking accounts at two different banks, A and B.
Ellen Brown: Pulling Back the Curtain on the Wall Street Money Machine Ellen Brown 2011
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Two-time world and Quebec champion snow-kiter, Eric Marchande is the founder of Aerosport (www. aerosport.ca).
Margie Goldsmith: Les Isles de la Madeleine (Magdalen Islands), Canada 2010
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In Wisconsin, a snow kiter takes advantage of the wind and the snow to go airborne.
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