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 www.infowards.com 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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