GLOBAL ELITE VERY CLEARLY TELLING US THEY PLAN TO RAID OUT BANK ACCOUNTS

Don’t be surprised when the global elite confiscate money from your bank account one day.  They are already very clearly telling you that they are going to do it.  Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts.  What that means is that when the chips are down, they are going to come after YOUR money.  So why should anyone put a large amount of money in the bank at this point?  Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails.  And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk?  What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system.  In order for any financial system to work, people must have faith in the safety and security of that financial system.  People put their money in the bank because they think that it will be safe there.  If you take away that feeling of safety, you jeopardize the entire system.

So exactly how did the big banks in Cyprus get into so much trouble?  Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing.  They have been gambling with our money.  In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing.

But what happened in Cyprus is just the tip of the iceberg.  All over the planet major financial institutions are being incredibly reckless with client money.  They are leveraged to the hilt and they have transformed the global financial system into a gigantic casino.

PLANNED CONFISCATION OF U.S. & U.K. DEPOSITORS MONEY

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.

New Zealand has a similar directive, discussed in my last article here, indicating that this isn’t just an emergency measure for troubled Eurozone countries. New Zealand’sVoxy reported on March 19th:

The National Government [is] pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts . . . .

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

WHAT A COLLAPSED BANKING SYSTEM LOOKS LIKE

In the 1930’s the collapse of the banking system propelled the world into an economic collapse.  Depositors lost their savings, confidence was shattered, companies starved for capital went out of business overnight, borrowers defaulted en masse and unemployment soared.  A collapsed banking system guarantees an instant economic depression.

A mere generation later, the world is witnessing an unthinkable repeat of the 30’s as the insolvent banking system in Cyprus spirals into the abyss.  The government of Cyprus, already hopelessly indebted, has turned for aid to the troika of the European Central Bank, the European Commission and the International Monetary Fund.

An initial bailout agreement between Cyprus and the troika involved taxing (confiscating) a portion of assets held by depositors in Cyprus banks.  After a public outcry, the government of Cyprus refused to go along with the initial plan and the ultimate outcome remains uncertain.  While the politicians and bankers argue with each other, the Cyprus banking system has totally collapsed and banks remain closed until further notice.

This is what a collapsed banking system looks like:

• Savings that depositors thought were safe and “guaranteed” by the state simply vanish.  The money is gone, replaced with worthless IOU’s from defaulted creditors that the bank lent money to.
• Depositors learn that the deposit insurance system is worthless if the government issuing such guarantees is itself bankrupt.
• With banks collapsed, the entire concept of credit disappears. Purchasing power disappears as debit and credit cards and checks become useless.
• ATMs, if they are still operating will quickly be drained of cash by panicked customers.
• The economic system reverts to a primitive “cash only” or barter system.
• The collapse of confidence results in capital controls being imposed after the banking system reopens to prevent a run on the bank.  Depositors may be limited to making only small withdrawals over a period of years.
• Savings deposits may be converted into long term liabilities of the bank, payable only if and when the bank has the financial ability to honor withdrawal requests.
• Depositors may be coerced into converting their savings into an equity position in the bank which has minimal value.
• The massive destruction of wealth resulting from the loss of savings destroys future purchasing power and perpetuates the ongoing depression.
• Retirees who depended on savings and are too old to work any longer are condemned to a life of poverty.
• New currency may be issued and the value of existing “old currency” declared to be unlawful money and null and void.
• Precious metals such as gold and silver will hold their value as they have for thousands of years.

The history of the 1930′s repeats itself as economic recovery is measured not in years but decades.

VIA: TRUTH DEFICIT

HIDDEN TARIFF ON AMERICANS IN IMMIGRATION BILL

Leave it to the best and brightest in Congress to craft legislation that does more harm than good.

Amid a national employment crisis that has left one in every three Americans near poverty and on government welfare, our dear leaders have taken it upon themselves to legislate millions more out of jobs.

The Obamacare mandates slated to go into effect next year will force employers to provide health care coverage, or pay a fine to the government of $3000 per employee if they fail to do so. This is a job killer in and of itself, but it doesn’t stop there.

Under the immigration legislation making its way through Congress right now there exists a provision that will allow illegal immigrants residing in the United States the option of being classified as “registered provisional immigrants,” which means they can work legally within the United States. It sounds like a great idea to the progressive-minded.

$1.75 TRILLION FOR FED REGULATION

Here is an enraging example of reckless government spending; The United States blows more than the entire economy of most countries to enforce the many rules and regulations of its numerous federal agencies.

Can you say government on steroids? It’s a crazy system in which a bloated government meddles in areas that it shouldn’t. This is done via federal regulations that, of course, require manpower and money to enforce. This costs U.S. taxpayers an astounding $1.75 trillion, an amount larger than all but eight of the world’s economies, according to a U.S. senator who is pushing for reform.

It gets better; this means that more than 10% of the nation’s economy is spent on trying to satisfy rules issued by Washington bureaucrats, reveals the Senator, Ron Johnson of Wisconsin. The heavy regulatory burden diverts resources from innovation to compliance, discourages business investment, and chills job creation, the lawmaker assures.

“It is no accident that as Washington adds new regulations, more and more Americans are unemployed and underemployed,” Johnson says. He has called for a congressional investigation to identify ways to reduce these “regulatory burdens.” His suggestions are simple and include common sense. Among them is conducting retrospective reviews of existing regulations to measure results, benefits and costs.

This would allow agencies to revise or eliminate regulations that have been in place for years but aren’t working well or are having adverse consequences. In the past few years federal agencies have also gone on a manic rule-making frenzy, creating dozens of regulations that end up costing a chunk of change to enforce. It’s an insane system that’s only getting worse.

For instance, Senator Johnson reveals that from 2003 to 2010 agencies didn’t bother publishing Notices of Proposed Rulemaking (NPRM) for about 35% of rules with a cost of $100 million or more. The number has nearly doubled since 1998, according to the senator, who stresses that the public has been unscrupulously left out of the process, which is supposed to allow comment/input on proposed regulations.

Under Obama the government has grown immensely and the expansion has inevitably created new rules and regulations. A few years ago the administration sponsored a contest promoting government regulations by offering a cash prize to the person who created the best video explaining the importance of federal rules. Contestants were asked to explain in a short video why rules are important, why the average American should care about federal regulations and how everyone can participate in the rulemaking process. 

VIA: TRUTH DEFICIT

TAKING YOUR RETIREMENT

A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, the National Seniors Council is warning.

A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a “government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation).” She proclaimed that even “private annuities are problematic.”

Such “reforms” would effectively end private retirement accounts in America, Crone warns. “These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system.”

THE GOVERNMENT BEAST IS NEVER SATISFIED. THEY WANT IT ALL AND THE GROUND-WORK IS BEING LAID TO MAKE US TOTALLY DEPENDENT ON THEM.

VIA: TRUTH DEFICIT