Martin J. Gruenberg, the FDIC Chairman, made a speech at the Volcker Alliance Program in Washington, D.C. earlier this month explaining how the even largest globally systemic banks will be dealt with in the event of a systemic banking failure. In closing he states, “I believe through the authorities provided in the Dodd-Frank Act, both for resolution plans for these firms under Title I and the resolution authorities under Title II, as well as the progress we are making on cross-border cooperation, that we can have a different scenario the next time around.”
Here he is assuring us it will happen again. Banks are back to their same games only this time the devastation will be tenfold. One needs to but look at the now even larger than ever, “Mega” Global Banks quarterly size=3size=3size=3size=3size=3size=3size=3size=3size=3size=3balance sheet reports to see what they are doing with depositor funds and Q-Infinity counterfeit dollars as compared to the loans they aren’t making.
Central bankers are going wild! Jamie Dimon and J.P. Morgan recently were fined $920 M for their love affair with bad derivative trading using and losing $6 B of other people’s money when they used $425 M in excess deposits to place hedge bets. J.P.’s legal costs were over $7 B in the third qtr. alone. Imagine what they have been doing since June 2012 with their excess deposits and a handful of loans made? I would bet the farm that they have continued to use their excess deposits to fund even more risky derivative trades that don’t require any actual capital allocation just an initial margin payment. Most will wish that Dimon would jump off the London Bridge when their bets fail again. J.P. will again prove that they are just “too big for their britches”, but Jamie doesn’t care when he can use free money to play the game with, pay any “Fines” incurred with free money and never see any jail time. They are just ALL greedy beyond belief! I simply can’t wait for the second London Whale to blow its innards out its spout!
The U.S. and her dollar stock is no different than any other failing company with stock. If one loses faith in a company people will sell their stock and share value drops. If you lose faith in the U.S. and it’s leadership are you going to hang onto your paper dollars or sell them for something of real value? Most Americans are ignorant of the fact that fiat currencies always fail and last on an average of a mere 30 years. Ben Bernanke’s thesis was on paper printing is but a miserable failure and Yellen will continue the sheer madness. Unfortunately the masses won’t discover the “Sting” is up until they are fleeced of their entire life’s savings. Who will you be?
Did you know that since early October J.P Morgan under Jamie Dimon no longer holds any securities issued by the U.S. Treasury? J.P. Morgan claims that a U.S. Government default is unlikely yet they took precautionary measures to eliminate U.S. debt due to mature in the near future from their money market funds under its asset management division. They are simply covering their tracks and hope that the average citizen doesn’t make the connection and react to protect themselves.
The banks are still taking counterfeit funds from the Federal Reserve and being paid income and bonuses to themselves and their wealthy members. They have diverted their income into private vaults of true values of gold placed in banks out of U.S. controls. Their greed is undeniable and self evident while they have never been held personally responsible, accountable or brought to justice. They will whisk themselves and their families away to protected lands, far from the mayhem they will have created that will envelope the U.S., and clearly derail the economy when the train crashes. Millions of Americans will be left jobless, hungry and homeless. If one thinks it can’t happen here in the “good ole U.S. of A” you have not yet awakened to the fact that the “good” has been dropped and we are now just another third world country of workers and serfs.
It is obvious when a major financial institution like Chase can limit your withdrawals and suspend international transfers that the system is starting to unravel. The shell game is up and a desperate government will do anything to save their own skin even seizing your deposits and IRA’s. If you keep your head in the sand long enough you will be sorry that you failed to react and protect your own family!
Confiscation of personal property and savings always happens and over the centuries we have seen that governments revert to theft from the working class because they don’t know how to create wealth and decline to work for their keep. One Roman army needed money to take back the Empire so they killed the wealthy and stole their property. King Henry VIII stole all the riches of the monks as well as the lands and spent every piece of gold. During the French Revolution the government again confiscated lands of the people and stole from the Catholic Church printing money that resulted in hyperinflation, starvation and the Black Death and the rise of Napoleon. During our own history Congress passed laws to confiscate personal property used for insurrection purposes which proved to be vague decisions by the hungry militias. Then there was the not so great F.D.R. that banned the ownership of gold, gave those that turned in their $20 coins a $20 dollar bill and then valued the coin at $35 an ounce, sheer thievery.
Our government has told us that they plan to nationalize IRA’s and 401k’s account into treasury bonds, they will bail in banks that fail with shareholder funds, cancel pensions and they have already stolen your future Social Security when President Clinton added your social security funds to his budget and called it a surplus. So why does the populace just sit like a frog in the boiling pot of water waiting to die?
Will the majority of Americans decide to quit using the oppressive systems of the mega corporations and the government they own whom control, ensnare, watch, rule and control them? Will they quit using their systems of medical sickness, banking, credit, consumerism, retirement theft programs, government handouts and the public indoctrination centers that steal your children and their minds? No, because it is too hard, they believe, to stop using them. It is too hard to learn a new skill to become self sufficient, too hard to home school their children, too hard to find a good private church school that teaches the basics and too hard to get up on their only day off to go to church. American’s no longer possess any will power to save to buy what they need or want. They don’t have the initiative to plant a garden, can their own food, hunt game or start a bee hive. They don’t know what they should be eating or even know that it isn’t 95% of what is being sold at the corporate grocery mart.
Learn to live a life you can afford as our once civilized society is winding down. Our government and their D.H.S. know it and are well prepared. Protect your family while you still can by purchasing gold and silver! These next few months may well be the last opportunities for you to purchase while prices are at attainable levels.
Roxanne Lewis is a precious metals broker from western Colorado certified by the Better Business Bureau and dedicated to educating others to protect themselves and their family’s assets. International trades are welcomed and she insures duty free delivery. Also easy conversion of IRA’s and 401K’s to Precious Metal IRA utilizing any metals shown on website. She writes weekly articles @ www.whynotgold.com under her weekly BLOG and ARCHIVED articles of the past. VISIT her website that features VISIBLE, CONSTANTLY changing pricing. Find out why customers say, “I’m glad to have found you. You have the lowest prices! I won’t ever use anyone else!” Contact her@ firstname.lastname@example.org