The FDIC (Federal Deposit Insurance Corporation)has drafted secret plans to loot bank accounts; yours, mine, everybody’s – and don’t think the fact that you voted Labour will buy you an indulgence, were you really so gullible as to think those elitist champagne socialists scumsucking scab lice cared about you?
This news is hardly a surprise, apart from the fact it has been talked about openly (though not reported in mainstream media) since the big bankers and global government brigade go away with robbing Cypriots, it was inevitable really. Kleptocracy was already the financial policy of supra national bureaucracies before the slow motion collapse of the Euro began. Market analyst Graham Summers explained, “Depositor theft is coming. Europe is banker occupied territory. So is America.”
Finance is the new form of international warfare. A market stitch up can wreak more havoc than than standing armies. The Banking giants,run things. Rothshilds via Goldman Sachs, Bank of America, Citibank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo are the American institutions on the list.HSBC, Lloyds, Barclays,BNP Paribas,Deutsche Bank, Societie General, Commerzbank, UniCredit, UBS Switzerland, Credit Suisse, Ings, Santander, Nordea, Mitsubishi UFJ, Mizuho, Sumitomo Mitsui Banking Corp and Bank of China are those listed by Forbes Magazine as too big to fail.
They are also too big to be concerned about cross border disputes and a bit of foot stamping by petty tyrants like Fat Boy Kim.
And of course, they and their political lackeys see no reason why the diempowered individuals of Cyprus or the nations of Europe and North America should enjoy protection when banks screw up.
Cypriot officials agreed to tax citizens’ savings accounts. Canada, New Zealand, and Euroland member states have already announced they plan on doing the same thing. The Obama administration in the United States of America have admitted the idea ‘has been considered’.
The Official name for such government kleptomanis is bail-ins. In plain English we would call it theft. Instead of breaking up, nationalizing, or closing down failed banks, funds sequestered from depositors will keep them operating.
Commercial Banks, Central Banks and governments must have known the money printing madness (Quantitative Easing, Stimulus) could not go on forever. Since 2001, major currencies have held value against each other thanks to cosmetic exercises in market fixing but have all taken around a 50% devaluation against major traded commodities. Regulators like FDIC no longer have enough money to guarantee deposits. Its simple arithmetic.
Ordinary people, from the modestly rich investor to granny’s savings account have trillions in bank accounts. Its low-hanging fruit, such people have neither the ability to move money offshore not to hire expensive lawyers to protect them as the seriously rich can. Punters’ nest eggs are a treasure trove begging to be looted. All that’s needed is a bit of legislative jiggery pokery to make theft by government’s lawful.
It has been approved in Canada. Obama’s kleptocratic goons are drafting the law for America. The E U is talking about extending the grab from Cyprus to other troubled nations in the Eurozone.
What happened in Cyprus isnt a one-off, says Graham Summers. “When systemic crisis hits, things happen FAST and FURIOUS.
Cpyriot bailout negotiations had been going on for months, the nation’s financial situation was known two years ago. But in the end the entire banking system fell apart in one weekend.
Banks shut their doors. Restrictions on movement of money were imposed. People couldnt write checks. Cash machines were switched off. People were deprived of access to their funds. When the banks reopened only limited amounts could be withdrawn. Strangely the seriously rich were tipped off and their money left the Island before the crisis. The thrifty and hard working, uninformed of what was coming are now left to pick up the tab.
Think it cant happen here? Think again. Its coming. Proposed FDIC legislation lets it take control of banks it deems systematically important and write down your savings (and other bank accounts) as part of the bail-in.
What is happening is wrong and criminal. It provides a veneer of regulatory cover at the expense of the economy, sovereign states, local communities, and of course ordinary people who will be hit hardest.. Its a scam. Like global warming, like green energy, like globalisation, like Quantitative Easing, it is a racket conjured up to try to disguise the fact that the global economy and the fractional reserve banking system are screwed. But what really matters is it lets Wall Street, The City of London, Hong Kong and other financial centres carry on with business as usual.
What are we going to do about it?
No bank is safe
From Bail Out To Bail In
IMF backs bank bail in powers
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