The deficit has now surpassed $18 T and we will pay through toil, taxes or theft. The U.S. debt will reach $28 trillion by 2018, in just three years. Our government and the Fed are out of ideas, no one is buying U.S. treasuries anymore, no amount of taxes will be enough and they desperately need money to maintain power. To keep the Ponzi scheme going the U.S government has made several moves to make your checking and savings & retirement accounts their new targets for confiscation. You do have a choice, remove your assets from their grasp by taking it out of their banks and getting out of their systems set up for their benefit!
Government produces NOTHING; they only feed off those who do the real work. Next they distribute YOUR wealth and when government officials cannot meet their obligations or fulfill their promises they figure out ways to appropriate the public’s money to fund their projects. Desperate government officials will always resort to expropriation, be it through inflation, taxes, debt accumulation or confiscation!
The Federal Reserve has bought 90% of the U.S Treasury market and today they are trading S & P futures (Standard & Poor high grade futures) with the free money created out of nothing! There are two types of future contracts; financial and commodities. No matter which type of contract you trade the basic premise is the same. The buyer of the contract agrees to deliver the product for a commodity future or cash for a financial future at the contract price on the expiration date. A contract can be anything from corn, wheat, oil or a stock index. Usually future contracts get “closed out” before the delivery date and so no physical delivery actually takes place and that is what they are doing, using money created out of thin air to close out future contracts!
Today the “too big to fail banks” are bigger and their risky derivative bets that tanked the market in 2008 are bigger than ever. Today the number of banks and thrift organizations, over the past 30 years, has dropped from 15,000 to but 6,500 and by 2024 at 20% every ten years that number will be but 2,600 in another 30 years and they will be bigger than ever! They will never be allowed to fail, EVER!
The newest threat now to our economy is the market hazard of dropping oil prices and compared to the $1 trillion sub-prime mortgage crisis that took down the economy in 2007, today our problem is five times larger! Remember in 2008 the stock market fell 50% and investors lost $8 trillion in the stock market. The stock market, over the past 30 years, has had a size-able correction every seven years; 1987, 1994, 2001 and 2008. Most suspected a Fall 2014 correction, except this year excessive digitizing over several years of trillions of dollars have kept the correction at bay, at least for the moment! Today under $60 for a barrel of oil we are looking at $5 trillion dollars of corporate debt write offs and if it continues for any length of time the stock market will crash and burn. The Fed will be forced to start flow of dollars once again. Stock market investors (the banks) and the private investor in the stock market are posed to lose as much as $40 trillion and the recovery of our economy will cease to exist “FORE-EVER”!
Now who do you think the government will lean on, when necessary, to bail them out? In fact, the U.S. government has already set up their plans to make your savings & retirement accounts theirs through confiscation! They have used legislation and authoritarian power in collusion with the modern financial system to gain future access to your private assets with the ruse of “protecting account holders” and “national security”. In essence your savings are targeted as THEIR future revenue source.
Corporations lobbied for these changes with the implementation of the MyRA program. This nationalization of retirement plans and pensions would save them money and increase their corporate profits for the 1% shareholders who rule, a WIN/WIN for them at your expense. Obama announced the creation of the program so your retirement can be used to pay for the government debt as you invest in their Treasury Bills because no one else will buy them any longer because guess what? Another WIN for government as other countries see dollars as worthless and will no longer invest in meaningless paper, but you will be required to, a LOSE/LOSE/LOSE for everyone. The MyRA program is nothing more than an investment scam being sold to the American people as a government thrift plan and the infamous John Corzine, formerly of IMF Global will be the programs director! Who better to take charge of the theft from the populace? Remember the government official who stated, “It just isn’t fair that some Americans have retirement accounts and most do not!” You will soon be forced to use a portion of your savings & retirement funds to purchase U.S. government debt, debt that will most likely default. Understand that there will be a tipping point when our debt and deficits will be unsustainable. Today we have an insolvent government, who by virtue of their laws and increased taxation, may potentially at some point direct a hack on insolvent banks to access your wealth with the stroke of a key.
This recent notification from the FDIC is warning banks of less than$10 B in assets that their share holder accounts might easily be hacked. The FDIC makes recommendations to banks for correcting these hacks by offering Information Security IT booklets written in 2006. Whether or not such dated assistance is a timely resource in assisting a bank in protecting their depositors will be left to be seen when such attacks happen in the future. Remember banks no longer house anything of real value just black pixel numbers of cyber money on a computer screen. The question to the FDIC that needs to be asked is banks larger than $10 B safe against future hacking? Or is this just the plan to grow the banks even larger and protect the largest banks against failure?
The BASH (Bourne Again Shell) vulnerability or “Shell-shock” has been found in use and is actively exploiting Web servers. Additionally, the initial patch for this vulnerability was incomplete and still allows for attacks to succeed. Today there is severe security vulnerability in the GNU BASH, the command line shell used in many Linux and UNIX operating systems, which could leave systems running those operating systems, open to exploitation by specially crafted attacks. This issue is especially dangerous as there are many possible ways that BASH can be called an application and because of its wide distribution its vulnerability could be as wide ranging as the “Heart bleed Bug”.
Also this past July 1st a law called the Foreign Account Tax Compliance (FATCA) was implemented requiring that foreign financial institutions including banks, stock brokerages, hedge funds, pension funds, insurance companies and trusts must report all U.S. citizens’ accounts directly to the IRS. FATCA also requires that all private companies report all income made by a U.S. citizen to the IRS whether they live here or abroad. Also the Financial Industry Regulatory Authority, which oversees how investments are sold, proposed what it calls a Comprehensive Automated Risk Data System (CARDS) which would collect data on balances and transactions in all brokerage accounts nationwide electronically.
You see, our U.S. government is controlled by the big banks who direct you where to invest your savings & retirement accounts. They have gained full access to the activity of every single citizen’s bank accounts, retirement accounts, brokerage accounts and trading accounts for one reason only, CONFISCATION. The IRS will have full visibility on all overseas accounts, income, equity or other earnings, effectively giving them access to all the wealth of every American citizen o matter where they reside on earth. So now that we know what they are doing and why they are doing it, what are you doing to safeguard your savings and wealth?
Cyprus raided people’s bank accounts and Detroit destroyed workers pension programs in an outright example of theft. Here at home our “too big to fail” banks like HSBC, Goldman Sachs, Morgan Chases and Citigroup have been investigated for robbing pensions via rigging interest benchmarks as well as other fraudulent activities. A few have received fines yet they remain as ‘parasites in power’ and no one is jailed although a few have died mysteriously, no further rations have been placed on them. They continue the same risk tactics that led to the financial meltdown of 2008. Banks today fail to be legitimate businesses and look more like organized crime syndicates, to a few who are enlightened they quack like ducks! These are the people you allow to be in charge of your wealth! Whether you have savings & retirement funds in money market funds, the stock market or bonds or savings accounts, the banks control your wealth. When the government commands Wall Street to hand over access to your money, it’ll be as simple as a keystroke with missing pixels of your cyber money gone in seconds, vanished by our government and their own created crisis cyber attack! The great magician will have waved his wand!
As a desperate government gains unprecedented access to your financial accounts everywhere in the world, you need to take action NOW to protect your family from their capital controls. There is one asset class that sits outside the financial system, is completely secure from government confiscation and global economic collapse and banks hate it, gold and silver. The best wealth protector for more than 5,000 years physical gold and silver is selling in the East in record amounts as insurance against the actions of the U.S. dollars devaluation yet few Americans hold any real assets of gold or silver. If you had invested twenty years ago in gold and silver your holdings would have grown an average of 17% a year. The time is now or never!
Today we learn that another $1 T. was approved to keep our government running and along with it legislation to allow the Pension Benefit Guaranty Corporation to cut pensions to the largest U.S. teamster union as well as business’ that have been shuttered as well as a ‘derivative pass’ (my own description) which will allow Wall Street to gamble with our deposits at FDIC insured banks and thrifts! Once again, their daft decisions have placed you and I on the hook for another round of bailouts! Watch for my next article on our banks new upcoming rules!