Proverbs 22:3 NLT

A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.

-- (((Charles Finney, said the following: “If
there is a decay of conscience, the pulpit is responsible for it))) --


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Preparing for what is coming to America - Prepare to Defend America


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Investment Watch

X22 Report is a daily show that will cover issues surrounding the economic collapse

Friday, October 18, 2013

By Michael Mccune: The Rant (US Government auditor for 16 years In Cheyenne, WY. -U.S. Financial Tree Rotten at the Core- (( to Have Michael send you the Rant to your Email contact Him Here ((

U.S. Financial Tree Rotten at the Core

The mighty oak tree has always been a symbol of strength. But the oak is deceitful too. It gives the appearance of strength right to the very moment the storm blast hits, splitting the trunk and revealing the rotten core inside.


America is like the oak. The rotten core is the unresolved debt at all levels but starting with the federal government. The Republicans in the House who went along with the Senate in kicking the debt problem down the road another few months should all be recalled immediately. They are the fungus allowing the rot to spread.


What these miscreants do not seem to understand is it is not compassionate to "go along to get along" when the patient is terminal. Drastic steps have to be taken. America's financial house is in ruins, the storm blast is coming and we really don't know which way the tree will fall, we just know it is going to fall.


To prove this point, the financial sector of this country is prepping for the storm blast. It has examined itself and found the rotten core of a debt-ridden fiat is no longer secure. JPMorgan Chase Bank has sent out notification to the bank's customers it is going to limit the amount of cash withdrawals by its customers and is placing punitive restrictions and fees on international transfers.


In letters sent to its depositors, Chase confirms that starting Nov. 17, the bank will "cancel outgoing international wire transfers." In the same letter it will be limiting money access to $50,000 per billing cycle. Transactions considered in determining the $50,000 limit will be deposits, night drops, ATM and cash withdrawals and checks honored. The letter concludes with the homily, "Thank you for choosing Chase. We look forward to serving all your financial needs."


This, in effect, is a declaration the bank is running low on cash, even while the government printing press is generating $85 billion each month. But it also spells doom for Main Street America.


Tell me how a business with even 10 employees is going to pull off this financial impossibility and still meet payroll and pay for inventory to continue to do business?


It is not unimaginable that the bank will soon impose fees to merely access your funds on deposits as well. This falls in line with the mandates of the FDIC where all deposited funds are considered the legal property of the financial institute and no longer the property of the depositor.


But it also a warning the banking system is so bereft of cash (having replaced it with the ubiquitous derivatives paper) that it cannot continue cash withdrawals. The cash money simply isn't there to cover daily needs.


This is where government has wanted us to go for a long time--to a cashless society wherein it can impose fees, fines and the resulting penalties and interest forcing citizens back into servitude. It is another step down the road from where America started with direct deposit paychecks replacing the envelopes with real checks that replaced the envelope with cash we used to get.


The letter sets the stage for a banking crisis demonstrably similar to the situation we just witnessed in the Cyprus banking freeze and which the Rant warned was coming back in March as the U.S. engineered that mess as a "test.". (Copies are available of that particular Rant upon request.)


A cash-free society is much easier to control, as Edward Snowden warned with his revelations on the NSA. If you are forced to use only digitalized fiat, the government can track you more easily. If it can track you, it can control you.


But, as the commercials say, there's more. The Rant warned the Cypriot haircut was coming to America. This Chase letter may be the onset of that situation. Remember in Cyprus the citizens had their accounts trimmed if there was more than a certain amount on deposit but the "government-friendly big depositors" were warned in advance and removed their assets before the bank shutdown started. When the citizens protested this policy the cold reply was essentially, "You either give a percent now and have something left or we take it all and you have nothing."


The slaves of Cyprus caved. Are we any better?


What is alarming to the max in the deal is Chase is the big dog on the block. JPMorgan Chase also holds the most corporate derivative paper in the world (another Rant topic previously.) JPMorgan Chase, from the last announced settlement in January from the Bank of International Settlements in Switzerland (BIS), owned more than 16 times the entire world economy in corporate derivatives. The G-20 bankers alone held more than $1.2 QUADRILLION worth of corporate derivatives then. The BIS report halved what was actually held in order to show only one side of the bets but still reports more than $600 trillion worth of the corporate debt was held by these bankers.


As a final proof of the rotten core of the financial system the Congress just allowed to remain in place, the IRS is revoking passport privileges of Americans they've opened investigations on--even if there is yet no proof of any wrong-doing!.


I have told anyone who will listen to remove their funds from all FDIC-approved institutes because the system is worthless and rife with fraud. The government is broke and will "steal" anything it can get its hands on simply to feed the ravenous public trough opened through entitlements. If you haven't yet heeded that advice, do not procrastinate longer.


The wolf is now at the door. Our 'compassionate' politicians have seen to that. You and your 'liberties' are the main course.


The rotten oak is about to fail.


"I have sworn on the altar of God eternal hostility to every form of tyranny over the mind of man."--Thomas Jefferson


The basis of today's Rant came from an article at titled "Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers". A loyal Rant reader brought the 10-17-2013 article to my attention and this is the final warning. Our country is destitute thanks to the government wimps who caved to pressure.


I will be the guest speaker at the O.L.D.E-V.I.O.L.A breakfast meeting next Friday, Oct. 25, 2013. The meeting will begin at 7 am and run to about 8:30 am in the Perkins Restaurant at the I-25/Crossroads Blvd Exit 2 miles north of the Highway 34/I-25 junction. The topic is "The New Face of Terrorism." Hope to see you there, Thanks, Mike     


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