Celebrating 100 years of your being duped by the central banksters and their crony government.
Breaking up is hard to do, especially when it is with a tracking service like a financial institution. Sometimes you can make a clean break and other times you have to remain “just friends”.
The US government actually has a name for people who have no bank accounts – they call these folks “the unbanked”. The FDIC defines the unbanked as “those without an account at a bank or other financial institution and are considered to be outside the mainstream for one reason or another.” Another term is “the underbanked” – “people or businesses that have poor access to mainstream financial services normally offered by retail banks. The underbanked can be characterized by a strong reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor, such as check cashers, loan sharks and pawnbrokers.” Continue reading
Preparation for disaster, whether natural or man-made, should be as vital as any ideal found in the various practices of religion and spiritualism. Preparedness should be treated with reverence, discipline and duty. The drive for preparation should be seated in the very heart of humanity. As individuals and as a society, we should hold preparedness dear, for it is an expression of the desire for survival and the key to maintaining our inherent freedoms. Without self-sufficiency, we set ourselves up for endless failure and enslavement. Continue reading
… Congratulations Cyprus savers – you were just betrayed by both your politicians, and by Europe – sorry, but you are the “creeping impairments” in the game known as European bankruptcy. And so is anywhere between 6.75% and 9.9% of your money, which you were foolish enough to keep with your banks (where at least you were compensated with a savings yield of… 0%).
More importantly, as of this morning Europe has finally grasped that there is a 6.75% to 9.9% premium to holding physical cash in your mattress rather than having it stored with your local friendly insolvent bank.
Luckily Cyprus is so “small” what just happened there will never happen anywhere else: after all in Europe nobody has ever heard of “setting an example”. Or so the thinking among Europe’s unthinking political elite goes.
And congratulations Europe: just when people almost believed you things are “fixed” you go ahead and prove to the world that you are as dis-unified (because size doesn’t matter in a true union), as confused, as stupid and as broke as ever…via …Saver “Panic”, Frozen Assets, Bank Runs, Broken ATMs | Zero Hedge.
Responding to this ZerHedge article, Ann Barnhardt posted this:
Finance: The Cypriot Confiscation is Terrifying. Posted by Ann Barnhardt – March 16, AD 2013 9:27 PM MST
Yes, it is every bit as bad as it sounds, and worse. Word is that the initial plan was for a 40% (!!!!) levy confiscation of Cypriot bank accounts. They settled for a MERE 6.75% and 9.9% dual-layered compromise.
Yeah, you all need to do what I have been doing for the last several months and live within spitting distance of being overdrawn in your bank accounts. In other words, keep the BARE MINIMUM in the bank and feed your account just enough to cover the bills. As soon as money comes in, get it the heck out of there.
Looks like the IRS may prove to be the least of my worries with regards to levying bank accounts!
This has the potential to spark bank runs in other Southern European nations MERELY BECAUSE OF THE FACT THAT IT ACTUALLY HAS HAPPENED. Pray the Greeks, Italians, Spaniards and Portuguese are all watching talent shows or soccer and don’t notice. But if it does, if you have watched my eight-part economic presentation on YouTube, then you understand that we will blow sky-high as the big banks and their tens of trillions of dollars in repos and reverse repos and credit default swaps, many-to-most of which are written on European sovereign debt, blow.
… UPDATE: I agree with various commentators that this is almost certainly a test-run by Brussels to see what the reaction of the Cypriots is. If no one is hanging from light poles by sunset on Tuesday, they will likely move on to Greece and the other Southern European economies, satisfied that the people have been sufficiently conditioned to roll over. Tiny Cyprus, an ISLAND mind you, makes the perfect test lab.
I anticipate that the light poles will remain undecorated. There is no fight left in the men of former Western Civilization; only indifference punctuated by self-loathing. Say goodnight, Gracie.
Note: This article was written by Daisy Luther and originally published at The Organic Prepper.
Last week I wrote an article in response to the media’s vilification of preppers in the aftermath of the horrible tragedy in Newtown, Connecticut. The article was quoted in an article on Yahoo.com, to my great astonishment, and that is when I saw how little most people understand about prepping. You can see in most of the 4492 comments the article received that many folks just don’t “get it”.
My inbox was filled with a barrage of hate mail and a number of people felt compelled to leave angry and rather ignorant comments on my website. I got messages from people that called me “batshit crazy”, messages from gun control advocates, messages from people who directly blamed me and all other preppers for the massacre, and even one particularly hate-filled email from a person who said “I hope that your kids are killed at the next school shooting.”All of this leads me to reconfirm my belief that people sincerely do not understand why we do what we do, and that ignorance leads to fear.
People fear what they don’t understand and hate what they can’t conquer. — Andrew Smith…
Oh yes, you can be sure that ol’ Chuckie Schumer is going to be looking out for the little guy. I am of the opinion that there is a special place reserved in hell for this sniveling, self-aggrandizing piece of crap.
The headline quote from the Wall Street-owned Schumer has made the rounds. Chuck basically spends 5 minutes pleading with B-52 for more QE. The quote comes at the very end of the clip. Captured Senator contributor list is below. Guess which bank is #1…
via The Daily Bail.
It used to be that debts were enforced with the threat of imprisonment. If you took out a loan and you couldn’t afford to pay it back, then you would be arrested and thrown in jail. But now—in the United States, at least—debtors’ prisons are supposed to be a thing of the past, a relic from a more barbaric era.
“For the most part, the US outlawed debtors’ prisons before the Civil War,” said guest host Ezra Klein on Tuesday’s episode of The Rachel Maddow Show. Continue reading
The proprietor of the well-respected Survival Blog, James Rawles, is not one for overstatement. So it was doubled-down unsettling when he wrote the most chilling advice we’ve seen recently, a spare and direct statement which appeared in his Economics and Investing section:
As of today, Wednesday, June 13, 2012, I strongly urge all SurvivalBlog readers to immediately draw down their checking accounts and liquidate their CDs, passbook savings accounts and most of the their stocks to buy tangibles. Continue reading
… They think the path of a full-blown crisis would start in Greece, quickly move to the rest of Europe and then hit the U.S. Stocks and oil would plunge, the euro would sink against the U.S. dollar, and big banks would suffer losses on complex trades…
- ACT I. What would Greece’s exit look like? In the worst case, it starts off messy.
- ACT II. Here’s where things get scary.
- ACT III. A full-blown crisis would cross the Atlantic through the dense web of contracts, loans and other financial transactions that tie European banks to those in the U.S., experts say...via News from The Associated Press
If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn’t. The founder of Global Macro Investor “previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe… Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes.” It is his writing we are concerned about, and specifically his latest presentation, which is, for lack of a better word, the most disturbing and scary forecast of the future of the world we have ever seen….
And we see a lot of those.
Consider this: Continue reading
“…According to Mitchell (who is a senior fellow at the Cato Institute), some wealthy Europeans are preparing for a level of chaos in their respective countries worthy of the title, “apocalyptic.” In Mitchell’s words:
About a year ago, I spoke at a conference in Europe that attracted a lot of very rich people from all over the continent, as well as a lot of people who manage money for high-net-worth individuals.
What made this conference remarkable was not the presentations, though they were generally quite interesting. The stunning part of the conference was learning — as part of casual conversation during breaks, meals, and other socializing time — how many rich people are planning for the eventual collapse of European society.
Not stagnation. Not gradual decline. Collapse.
As in riots, social disarray, plundering, and chaos. A non-trivial number of these people think the rioting in places such as Greece and England is just the tip of the iceberg, and they have plans — if bad things begin to happen — to escape to jurisdictions ranging from Australia to Costa Rica (several of them remarked that they no longer see the U.S. as a good long-run refuge)…”
go here for the rest of this sobering spin: Likely Collapse of the Euro Leads to Second Amendment Lessons.
Walk away! Simply walk away… i.e.:
Bankruptcy has often been considered to be the ultimate shame and crowning mark of failure. Yet for millions of people out of their financial depth, bankruptcy should actually represent a path out of a financial nightmare. Bankruptcy is not reserved for deadbeats, failures, or losers. Instead, it is for honest individuals who realize that the only way out is starting over…
We are being throttled by the Big Lie: we’re told that if the predatory financial system implodes, we’ll all be ruined. The opposite is true: the only way to save our economy is to let the corrupt, pathological and flawed financial system implode….
… Data released this week shows that 2.17 million loans are actively in foreclosure. Of these loans, 40 percent have not made a payment in over two years! 72 percent have not made a payment in over one year! In essence, just like with our financial fixes, this has been the equivalent of covering up our eyes like a child fearing the boogieman and pretending there was no issue in the system…
Four Biggest Banks in America have Huge Leverage | Greg Hunter’s USAWatchdog. By Greg Hunter’s USAWatchdog.com, October 3, 2011
” According to the latest report from the Comptroller of the Currency, just four U.S. banks have an eye popping $235 trillion of OTC derivative leverage. (Click here for the complete Comptroller of the Currency report.) As a nation, U.S. banks have a total OTC derivative exposure of $250 trillion. So, the fact that just four U.S. banks have this much leverage and risk is astounding! The banks are listed below in order of size and approximate OTC exposure:
1.) JP MORGAN CHASE BANK NA OH
$78.1 trillion OTC derivatives
2.) CITIBANK NATIONAL ASSN
$56.1 trillion OTC derivatives
3.) BANK OF AMERICA NA NC
$53.15 trillion OTC derivatives
4.) GOLDMAN SACHS BANK USA NY
$47.7 trillion OTC derivatives
Considering that the total assets of these four banks are a little more than $5 trillion, I see a frightening amount of risk with a total derivative exposure of $235 trillion! This is nearly 50 to 1 leverage. …”