The Beginning Of The End
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The Mystery Of The Shemitah
  • Richard

    “What this means is that if you have over 100,000 euros in a bank account
    in Europe, you could lose every single bit of the unprotected amount if
    your bank collapses.”
    I’m sorry, Michael. I apologise. I don’t understand. If you have money in a bank and it collapses, who, in your opinion should compensate you for your loss?

    • Copperhead Joe

      No one should compensate you. It isn’t your money anymore when you lend it to a bank. You become a creditor and legally assume risk (which is why I don’t do it, except to pay the utility bills and the balance on the credit card I use for food and gasoline). He is just warning you.

    • MeMadMax

      Well, there’s supposedly insurance from the government. See: FDIC.

      But, like anything from the government, nothing is guaranteed…

  • K

    Let me ask the simple question. Why would they not take your pension fund? Why would they not take a big chunk out of your bank account? Whether you are talking about the Government, the banks, and most of the major corporations. They are no better than common thieves. Common thieves with an advantage. No fear of being arrested, no matter what they do.

    • Rodster

      They’ll take it because it’s a Ponzi scheme. They will take it whether you are looking or not which means they will take it from your bank account or through currency debasement and inflation.

      It just shows how corrupt the system is and the criminal politicians along with the Fed and Banksters are all in on the game.

      It’s too bad people can’t figure it out until it’s too late. I recent;y read an article where Boxing Champ Floyd Mayweather has only 1 bank account and he has no bones about saying how much is in it. Wanna guess? How about $131 million. Do you want to be the Bankster that breaks the news to him that sorry Mr. Mayweather but your $131 million has turned into $13.1 million?

    • MeMadMax

      Luckily, these are the last death throws of a dieing system… Once this money runs out, there will be few other avenues of getting money and the beast will finally collapse under its own weight…

      Get ready, here it comes!

      • Syrin

        Yes, but a wounded beast is very dangerous, and that’s where we stand.

        • Hammerstrike

          They´ll focus all their ressources on the police state and use terrors tactics to cow the populations.

      • Selaretus

        But MeMadMax, the ‘money’ HAS run out….long ago. All this is funded now on CREDIT and debt. Stinks but we were all sold a bill of goods.

      • TooLittleTooLate

        I’m not sure the bag of tricks are exhausted.

        Look for the theft of our 401k accounts first…. then the bond market implosion…. and stocks… at that point… I honestly don’t know. We could possibly have massive deflation where cash could be king and gold and silver prices fall with stocks….. or, we could have massive hyper-inflation where the stock market just keeps going up and up and up.

        In that case we may have price fixing and any other number of govt. interventions.

        No. I think that we’re not in the last throws. We’re in for a long ride. Our society is so spoiled, they’ll cling to any sort of government assistance for as long as the govt. can do anything at all.

        I hope you’re right though. If we had a massive collapse then it would mean that we could heal this financial system and move on.

        The power brokers will not give up their positions of influence easily though. They will use every means of theft and lawlessness to ensure their position of power. The system must be maintained at any cost. ( which means however much it costs us )

        What is right or fair has NOTHING to do with any of this. ( If that were the case, much of wall street would have been shot for treason by now )

        I think it’s going to go on for a while longer…. and, I don’t believe anything will happen before the 2014 election…. all bets are off after that election though… Our current administration can fully take off their mask then since the end of their political need for voters ends at that election.

        • Starlifter

          I took the currency out of my 401 and used it to buy real money that will never go to ZERO……Silver!

    • jaxon64

      they’ll take it because they can………
      they’ll take it because they’ll make laws or policy that allows it………
      they’ll take it because they’ll tell us it will prevent the banking system from collapse……..
      they’ll take it –anyone’s money above a certain level ( say 50K) because the greater majority has less than 50k in funds or retirement and will be happy that they are doing it……
      they’ll take it and tell everyone that those people obtained that money unfairly and it needs to be “redistributed” …..
      they’ll take it and ensure that the middle class is completely dead for good and that all americans can share in equal misery and poverty………
      they’ll take it because as the potus said- you didn’t earn anything on your own–you owe the government who made it possible……….
      they’ll take it, and then of course, make provisions to make themselves exempt from the policies–kinda like Obamacare–IRS, union cronies, congressional accounts, members of Islam–all of their accounts will be exempt………
      they’ll take it, and if you complain too much?- it’s the no fly list for you, name added as a political dissident, revoking of your right to bear arms and possibly an unwarranted arrest and detention until you get your head straight….
      but most of all–they’ll take it because you can’t stop them if your little electronic money is sitting in their computers and they hold the passwords for electronic withdrawls……

      • mountainaires

        Yep. class envy is how Marxists get their noses under the tent, but it always turns into Totalitarianism, because force is necessary to enforce their “fairness doctrine.”

        • Hammerstrike

          But today´s marxism relies exclusively on taking, zero on producing.

          Should they seize power, their rule would crash down immediately.

    • madmankitchen

      The real question is, why would anyone who have a basic understanding of whats going on, leave money in the open so they can take it.

      • K

        The answer is, as a distraction. Through your tax filings the Government knows, what your wealth level is. Try to hide it all, you paint a bullseye on yourself. Let them have, what you can afford to let them have.

        • TooLittleTooLate

          Yep… If you think the govt. doesn’t know what’s going on…. Just forget to claim some income you made and see exactly what happens.

          • TooLittleTooLate

            But… that doesn’t mean you have to keep your already taxed income in the bank.

          • Jennifer

            B>S> the govt is not god, it doesn’t know everything. PULLEASE.

          • TooLittleTooLate

            They know about every dollar you receive that someone gives you and reports… They know about any IRA or other thing you cash out. They will find out if you get some inheritance. They know about stocks you sell and make money on and, they won’t miss it if you forget to report something.

            If I pay you cash for mowing my lawn, they won’t find out about that but, short of cash transactions that the payer doesn’t report, they’ll find your income.

      • SOL?

        Some of us don’t get to choose how we’re paid. Direct deposit only. If they wipe out accounts on a pay day, I’m S.O.L.

        • Alessia_is_not_blonde

          Nonsense. It applies to deposits exceeding $100k. Even if they halved that limit you are not getting $50k as a monthly salary. In short, if you have over $100k in your account get it out as fast as you possibly can or buy something that will retain its value even in an economic collapse.

      • mountainaires

        Try hiding it! You can’t. The NSA knows every financial action you take. For now, you can off-shore some of it, but they’re working on taking that avenue away, too–using class envy to do it!

        • Ever Vigilant

          Get a really nice safe….I did

    • btruth

      Prepare for war here in the USAcorp!

  • BlackDog

    I haven’t used banks in over a decade. I have income well in excess of six figures, just no banks. There are ways to cash and stash your money, you just have to do the homework. Not using banks is not nearly as hard as you might think. And NOBODY can reach into your stash, wherever that may be, and STEAL YOUR MONEY! Banks used to serve the public, along with their depositors. That ended years ago, but has become acutely apparent since 2008. You are nothing more to a bank than a sap giving away your money. You think it’s OK for them to ‘charge fees’ for your right to access your money?! Really?! Without Your Money, they would be in jail! Most of it is called Usury. Look that word up. It is the norm now. I wouldn’t trust a banker or a politician around my kids — WHY would I pay them to steal my money?

    • Gator

      I would love to not have to use a bank, how is this possible? Do you have anything (website, book) you can recommend for info? Thanks

      • Jimbo

        I get paid into a bank account but I convert any spare money into real assets. My bank account only holds enough money for day to day spending until my next payday (I am paid weekly). The most I would lose in a bank run would be 4 or 5 days pay.
        Real assets are anything you need now or will need in the future.

      • Syrin

        Keep enough in the bank to cover expenses with a checking account for convenience. Convert the rest in assets such as gold, silver, real estate purchases, etc. Heck, even taking the cash and burying it in a PVC pipe in your back yard under an ultrasound proof protection board is a safer alternative. Credit unions are a popular alternative, but I am not as familiar with them.

    • Copperhead Joe

      Well in excess of six figures…so, like 9, maybe 10 figures?
      Haha

    • RarefiedSnotress

      Sure Buddy.

    • Silver Lodge

      I have a six figure income as well… So long as you use a decimal in there..

    • NoSheDidin’t!

      LOL DUDE, i thought you were a drug dealer and got paid in cash, that’s the only way you’re gonna skip the bank and makea 6 figure income DUH! …LMAO

  • Rodster

    It just goes to show how far and where we are down the path of the so-called END GAME. If you don’t prepare for the eventual global economic collapse then it’s on YOU because you have been given enough warning signs.

    • Syrin

      I couldn’t agree more. When you go to a website NAMED “the economiccollapseblog”, and read all the meticulously detailed facts presented, then you have no one to blame if you were not prepared as best possible.

      • Sequoia

        You and Rodster are both 100% right.We haved been warned and we need to be taking precautions,WE HAVE BEEN WARNED!

        • GSOB

          Repent.

          Acts 17:30
          “Therefore having overlooked the times of ignorance, God is now declaring to men that all people everywhere should repent,

          31

          because He has fixed a day in which He will judge the world in righteousness through a Man whom He has appointed, having furnished proof to all men by raising Him from the dead.”…

          That’s really the ultimate warning…..

  • grumpyhillbilly

    Stealing from depositors still won’t solve the problem. However they will get away with the theft. Thank goodness fascism didn’t die with the Nazis( sarcasm alert).

    • MeMadMax

      Sarcasm acknowledged…

      Fascism is Italian, not Nazism…

  • JailBanksters

    All Pension Funds are just a Blatant Ponzi Scheme
    You are forced to put money into these all your life for the use and benefit of those that created them, when you retire you get some of your own money back paid as a dividend, So to stop people collecting on their Ponzi Plan, governments keep extending the time you can claim it.
    If those people would have been given REAL gold instead of this Ponzi Krap, then every Pensioner would be a Multi Millionaire. It’s your money, but you have no say in how it’s used, where it’s used, and when you can have it.

  • Tim

    The trillions of dollars that Americans have in retirement accounts would enable the U.S. government to keep its Ponzi scheme going for quite some time. Foreign demand alone for our debt is just not high enough. And I doubt that the Fed would be so brazen as to monetize the debt 100%.

    Those of you who have money in retirement accounts should think about this.

    • jaxon64

      And to steal people’s pensions that they earned-especially retired government workers and contractors would be of double benefit for these evil govt elitists. It would not only give access to other people’s money to spend–it would also reduce the unfunded debts that they owe those people.
      Does anyone here really believe that there are big piles of cash sitting around with names on it of each city bus driver, trashman, sanitation employee, sewage treatmant worker, public bus and rail worker, mechanic, driver etc etc etc etc..????? Steal their hard-earned retirement and then tell them it is gone—the elitists double benefit and double screw those who have laboured…..

  • RarefiedSnotress

    FDIC insurance and the amount it covers. Something not to ignore.
    I tend to think these financial collapse sites tend to downplay the fact that similar financial/insurance options and other stipulations were/are in place in countries. Then when “it” hits the fan,and the system mechanics go into effect, it is made to sound like an out-of-blue thievery.
    More fear-mongering than rational insight.. but I know how lots of guys want to irrationally defend their gurus.

    • Tim

      So, what about “FDIC insurance and the amount it covers”? That’s not a complete sentence, so readers are not sure what you’re trying to say.

      If you’re trying to say that we have nothing to worry about because our deposits are insured by the FDIC, then you are woefully uninformed.

      • RarefiedSnotress

        I’m not saying we have nothing to worry about. I’m saying that collapses have been and likely will be more methodical than the out-of thin-air quality that writers are trying to instill is occurring.

        • Tim

          The author of this blog has clearly stated in the past that the economy has been collapsing. He has said that the the collapse is not an event where it happens and then it’s over.

        • Jimbo

          All collapses are methodical to a point. Slow erosion of currency value etc.

          But then there comes a tipping point.

          You may smell smoke in the theater and dismiss it but a few people will get up and leave. Maybe the usher will announce that there is only a minor problem but still a few more people will leave. You notice people leaving but the usher still claims there is no problem so you decide to stay. Then you all see flames and there is a mad rush for the exits.
          That is what will happen in a dollar or stock market collapse.

          Right now I smell smoke.

          • Syrin

            Exactly. Look at the example Michael posted recently about the leaky roof, but even more practically look at a family scenario. A family of 4 making $75,000 year but spending $750,000/year. At first they appear wealthy, and they keep things afloat by putting it all on credit cards, then swapping cards to pay interest only, then borrowing from friends and family, but eventually, it over comes them. The spending stops, creditors come, divorce ensues, etc. That’s our gov’t with the exception is that the gov’t can create Monopoly money from the abyss.

          • Jimbo

            The collapse started with QE because however it is dressed up, buying your own debt is a default. We are now on credit card number three having maxed out the previous cards.

    • jaxon64

      There is a whopping $25 billion in the FDIC insurance fund which means
      “insured depositors are safe and their deposits are protected by a strong
      FDIC fund….The FDIC insurance fund has over $25 billion in reserves
      and the banking industry ”

      The $25 billion in touted deposit insurance is supposed to preserve and
      protect (granted not in their entirety) some $9,283 billion in total US
      deposits( 9.2 trillion). A far bigger problem, however, is when one considers the “asset” side
      of the US banks’ ledger: remember deposits are unsecured liabilities. And for US
      banks, sadly, over the counter derivatives represent the vast majority of
      “off the books” assets. According to the latest
      OCC quarterly report, the total derivative notional outstanding of the Top
      25 holding companies is $297,514 billion, or nearly $300 trillion. In other
      words there are 32 times more notional derivatives than there are total
      deposits, while the *********ratio of gross derivatives to deposit insurance
      is a concerning 11,900-to-1************.
      Almost $12k for every dollar of insurance–I think there is a lot more than “fear-mongering”, if anything, I believe they are not exemplifying the risk as great as it is–there is NO safety net.

      • nick tips

        You should seek a security from any bank before you deposit money if they are unwilling to give this then you know your deposit is at risk.Large deposits are safer in bricks and mortar as long as you do not need the money,you can put the property in your childrens names if over 18 to avoid Gains Tax also its harder to steal someones house,consider a trust if children under 18.

        • jaxon64

          I think you missed my point–Snottress was insinuating that the measly 25 billion in the FDIC fund could protect the depositors who have over 9 trillion dollars in their accounts. The banksters even have less than 1/10th of that in cash reserves.

          The mythic safety net won’t slow this thing down one bit once we reach a tipping point.

          Like Michael has said–it has been a slow collapse and it is CURRENT..but when we reach a certain point it will unravel quickly.

          From the Yeats poem:

          TURNING and turning in the widening gyre
          The falcon cannot hear the falconer;
          Things fall apart; the centre cannot hold;
          Mere anarchy is loosed upon the world,
          The blood-dimmed tide is loosed, and everywhere
          The ceremony of innocence is drowned;
          The best lack all conviction, while the worst
          Are full of passionate intensity.

  • Crony

    I cannot think of a more evil, cruel, and callous action than the govt. taking our private savings. Surely this would give rise to a civil war. I cannot believe that this would happen here. Naive, perhaps. But at the very least it would, sadly, create insurgent movements the likes of which have not been seen in 150 years.

    • Jimbo

      The system has been taking savings for years. When ever savings account interest is below the REAL inflation rate, you lose some of your purchasing power.

      • Hammerstrike

        Inflation is theft.

    • Sequoia

      I agree with you 100%.
      Rmember the government created the NDAA,bought billions of rounds of hollow point bullets,tanks armament,FEMA camps,the national resource act and others to use against us,when they steel us blind,
      We would have to be very creative to fight against them and hopefully,many police and military people will wake up and be on the American peoples side.
      If this gets out of hand it will be very ugly and bloody.

    • TooLittleTooLate

      They can and will do it…. That is unless someone throws them out of office and drags them through the street and hangs them from the telephone pole……. But, that won’t happen…. Nobody will drag them through the streets… nobody will be angry… or, if they are, they won’t do anything about it.

      By the time people figure out that there is no way they will ever be able to pay everyone out, they will be so jaded and apathetic, there will be no surprise.

      It makes me SO angry…. People will never learn and are so easily fooled by this crap. They fall for it over and over and over again.

    • TooLittleTooLate

      Remember, they will take the money out but, they will say something to the effect of: “We’re “nationalizing” and backing your 401K with treasuries with the full faith in confidence of the U.S. government.”….

      47% of the population doesn’t even know what that means.

  • Independent Tom

    Just goes to prove that left-wingers are terrorists… either they point guns at you themselves or they demand the government do it because they are too lazy to get up off their butts and commit their own robberies.

    • Syrin

      Have you not been following the posts of GARY for the past few years? Here is practically the embodiment of the left. Notice his solution to EVERYTHING involves the gov’t taking more from you to give to him. Never has he shown an interest in the gov’t relaxing regulations so he can start a business, get an advanced degree, or better himself. It’s all greed and sloth with the power of the gov’t being used to take from others. It’s greed in its purest form, and he would willingly give away all our rights to empower the gov’t even further to this end. There is not a drop of hyperbole in this post. This IS the left, and tyranny ALWAYS, ALWAYS comes from the left.

      • Gay Veteran

        “…That IS the left, and tyranny ALWAYS, ALWAYS comes from the left….”
        I doubt slave holders in the south were liberals, or robber barons in the Gilded Age.

        • TooLittleTooLate

          It’s not just left and right….

          I view it as, left, right, up and, down.

          Left is for all govt., right is for very limited govt. but, up is authoritarian and down is anti-authoritarian.

          Tyranny comes from the upside of the equasion….. From our current far left but also from our John McCain’s and Lindsy Graham’s of the world.

          The upside of the equasion is in BOTH parties. There are those on BOTH sides that want drones flying over your house…. spying on your emails and viewing your web history and listening to your phone calls…. waiting for you to do or say something they don’t agree with.

          WE NEED PEOPLE TO WAKE UP AND UNDERSTAND THIS.

        • Bud

          You have never heard of the great pro-slavery Democrat John Calhoun, have you? Look him up sometime.

          • Gay Veteran

            uh, most southern democrats pre-1865 were pro-slavery.

      • squashpants

        So, the question now is, will Gary defend his position?

    • Gay Veteran

      hey Tom, get a clue, both parties (“liberal” Democrats and “conservative” Republicans) are 2 sides of the same coin

      • alex

        true its a illusion but regular people who label themselves liberal tend be much more immoral!

        • Gay Veteran

          project much?

        • adam

          Not really – while liberals flaunt it out in the open, conservatives simply hide it in private. Corruption exists on both sides of the aisle!

  • El Pollo de Oro

    Because they distrust banks so much, many preppers are firm believers in keeping cash on hand. And being preppers, they often come up with some very creative places to hide their cash. But here’s something to be careful about:

    The Banana Republic of America has some nasty asset forfeiture laws. So if you’re carrying a large sum of cash for whatever reason, policías corruptos can steal your cash and say, “We suspected it might be drug money.” And good luck getting it back. It’s a guilty until proven innocent situation, and they don’t need any evidence. So if your money is in the bank, it can be stolen by the scum banksters Cyprus-style, and your cash can be stolen by government criminals as well. Gold can also be stolen by the scum banksters and the criminal Republi-Cons and Democraps who are in bed with them. If you have gold, hide it as best you can because bankster swine and government swine will steal it in a minute.

    That is the type of treachery, corruption and thievery we are facing in this Third World cesspool. Whether it’s cash, gold or an IRA, the fascist banksters will steal anything they can get their vicious little hands on.

    • ever vigilant

      they do have to get by your security first

  • Syrin

    I took my money out of the bank as best possible this past January leaving just enough to cover expenses on auto-draft. Same with the pension. I hope others here have taken similar precautions.

  • mleblanc138

    Under the mattress is starting to look like a much better place to put your money than a savings account that yields one fifth of one percent interest annually if you’re lucky. That’s what I said about Cyprus and it looks like I’m being proven right.

  • markthetruth

    ………THE BIG ISSUE IN THE WORLD…….

    …………..The Illusion of Control………….

    The illusion of control is the tendency for people to overestimate their ability to control events, for instance to feel that they control outcomes that they demonstrably have no influence over.

    The illusion is more common in familiar situations, and in situations where the person knows the desired outcome.Feedback that emphasizes success rather than failure can increase the
    effect, while feedback that emphasizes failure can decrease or reverse the effect. The illusion is weaker for depressed individuals and is stronger when individuals have an emotional need to control the outcome. The illusion is strengthened by stressful and competitive situations, including financial trading.Though people are likely to overestimate their control when the situations are heavily chance-determined .

    Human’s do not have the Power to Control Nature they only can make Choice’s which by a 50/50 chance for their perceived outcome. Our Leader’s can’t make control the outcome their choice more then a bum on a street would make.

    Life is decided chance and then Choice’s that are made which you have no control on the ultimate outcome which is by chance !!!

    the end…

    • alex

      You do have control of the outcome we affect our destiny! These Bankers,Politicans and corporations including the FED Reserve knew the outcome! They knew a economic collapse would happen Bernanke himself admitted that the Fed caused the first Depression and he said he would not repeat same mistake and yet he did purposuly repeat the same mistakes!

  • A D

    The dollar will collapse it is going to be a slow descent into 3rd world. The only way the 1 world gov can come into existence is for USA to fail.

  • Tobias Smith

    i vote for gary2 as chief liberal pos

  • jim_robert

    Gee, can’t Obama crony Jonny-Boy Corzini just “find” some money somewhere to fix the debt problem?

  • jim_robert

    Rather than bail-ins, my suggestion is that Michelle-Marie Antoinette Obama just cut back her uber-luxe vacations to just one every two months. That alone should fix half of the US’s debt problem.

    • TtT Engine

      Check out the servant/staff in OUR “closed” White House. Millions/millions dollars per year that we pay for. Versailles, Rome, Caligulan extravagance while we crawl. Obaman Cuban expensive style health care for us, gold plated exemptions for the ruling class. Nice job Judas Catholics and traitors that voted for this. NP, I feel good. I’m living on LOTS of “water”. Christi Fidelis !

      • Hank Kingsley

        I’m sure it would be so much better under Mitt Bainromney…. /sarc

        • TtT Engine

          YES. Our 4 Americans in Benghazi would still be alive. Navy Seal Team 6 would still be alive. We wouldn’t have OB Cuban health care. We would still be a world leader for good. We would be harvesting our own energy resources responsibly. We would be building our economy instead of destroying it. Christi Fidelis !

      • alex

        Many Catholics like myself did not vote for Obama but yeah unfortunately their are many fake Christians who are not following Christs teachings!

  • Bosnian Serb

    I already went through all this mess after the fall of former Yugoslavia. There was a bank called Dafiment Bank which offered 160% return on your savings in just one month. This bank went bankrupt and left 150,000 savers to hold the bag.
    I will tell you this-pensioners are first to feel the heat when country is in trouble. It happened in country where I come from, Russia, Argentina…now Poland and many other countries. Social security income can be easily reduced to $200 and this is what has happened in former Yugoslavia. Our dinars became totally worthless overnight. Unless you had gold to sell, or foreign currency like German Marks you suffered greatly. I will tell you this too-people in villages were better off than population in cities. They had food and could use firewood for energy while many in cities could not afford electricity and gas if there were no regular restrictions.

    • Jo.A.

      Excellent advice! Do you have any more suggestions in case of this happening in the US?

  • Mexican Curious

    The new government in Mexico has started to raid the pension funds locally a big chunck of money was taken out of our accounts, the reason given by the pension funds is that it was due to negative growth, that was it no further explanation given.
    The new Government also plan to raise the taxes for the middel class in a horrid manner, thus slowly killing the middle class which is Mexicos finantial backbone.

    • wally

      Yes I can speak from experience. My wife has an account at Banamex. The last statement showed a big withdrawal and when asked they simply said it was a Government required withdrawal. Hmmm….

  • Ideas Time

    Paper is worth the paper in is on. Nothing more, accounts the same. The system is not about us but about who will win and who has a seat at the table.

  • JoeD

    Nasty side effect of democracy, you know, when two wolves and a sheep vote on what to eat for dinner and all.

  • DoubleTap

    They take money out of your paycheck or business, make you lease the land you supposedly own and this is supposed to be shocking? When has .gov ever thought it didn’t own your money? .Gov has more guns, therefore your money is their money.

  • chilller

    They were reckless with their money (really the peoples money) and now they want more without any guarantees they won’t be reckless again. You’d at least expect to see them offer up a “change in their ways” before robbing us yet again. Now that people have done nothing to stop them the first time…they won’t stop until they have every last dime. These are bankers folks! the greediest, lowest forms of life on any planet and we simply say and do nothing while they rape us?!?

  • Nexusfast123

    It is now a circus of fools. The debt can never be paid off. All we can do is cancel it. That will never happen so we will ALL (except the 1%) be impoverished for no reason other than the banks can continue to steal from us until there is nothing left.

    The end point is collapse as there is not enough in pensions, deposits, etc, to pay of even a fraction of the debt.

    I am sure some of the greedy dimwits realise this. Better to keep the whole corrupt mess going until it collapses.

  • Douglas M. Green

    Jeremy C Stein,
    Member of the Board of Governors of the Federal Reserve

    System, at the
    “Rethinking macro policy II,” a conference sponsored by the International

    Monetary Fund,
    Washington DC, 17 April 2013:

    “First, and most
    obviously, one goal is to get to the point where all market participants
    understand with certainty that if a large SIFI (Significantly Important
    Financial Institution) were to fail, the losses would fall on its shareholders
    and creditors, and taxpayers would have no exposure. However, this is only a
    necessary condition for success, but not a sufficient one. A second aim is that
    the failure of a SIFI must not impose significant spillovers on the rest of the
    financial system, in the form of contagion effects, fire sales, widespread credit
    crunches, and the like. Clearly, these two goals are closely related. If policy
    does a better job of mitigating spillovers, it becomes more credible to claim
    that a SIFI will be allowed to fail without government bailout.”

    As bank depositors, we are unsecured lenders, or
    “CREDITORS”

  • jox

    Where’s the problem? When a business (bank) crashes, the owners and creditors (shareholders and bondholders) lose their money. A standard practice in a capitalism system. Happens every day. And what about deposits? Well, to establish a certain amount guaranteed by the government sounds reasonable. The anomaly here, the ‘socialism to the rich’ , is to bail out their business when they fail.

    The government taking private pension funds is another completely different matter.

  • Selaretus

    This is not too surprising really. These ‘pensions’ are so completely unsustainable. (there’s that word again). I have a friend who has been ‘crunching the numbers’ on his imminent retirement from teaching in NYS. He will be getting a sweet pension that is four or five times my measly corporate chump change pension and I’ll so envious, BUT as I tell him ALL these pensions are tied together. He insists on believing that there is some secure account out there somewhere with his name on it…some huge wad of cash that is his alone and that he is ‘safe.’ Well it just isn’t so; they stand or fall together; the State pension funds are essentially insolvent and chronically underfunded. There simply is NOT enough money to pay all this money and benefits to all these retiring people. It sucks but there it is.

  • Neutrelazer

    Hi ..am in canada .. The sheep .and you wy you guy care ..about money ..gov..or other thing from the machine ..the machine is taxe if you are in that machine ..you are a follower ..a sheeper lost and it good we need guy like you ..need to have a dady so you choose gouvernement ..ha they all got good live i supose ..am a free man of the land no tv for 25 year or more no bank account no electricity solar panel ..and off greed .. Live is good that way they not using my money for them …

    • Louise in MO

      You may be in Canada, but your written language is far from Canadian or American. So, where are you really coming from?

  • John Gallion

    If you are retired, get ready to get back to work. If you are planning to retire soon, forget about it! Retirement is a remnant of the peak of the industrial age and we are no longer in that age. Most of history people worked until they died. And with anti-biotics fast becoming ineffective,dying will soon be replacing retirement.

    • GSOB

      Don’t be so blunt and harsh, unless you are a Marine.

  • Kim

    Why don’t they start confiscating wealth from the Vatican and other insanely wealthy religious organizations? It’s about time these false religiouns give back the wealth they stole from others over centuries up till now. Strip em bare.

    • Joe Shmo

      When you advocate the taking from others, you must realize that when they’re done with them, they will eventually get to you. “First they came for the Socialists, and I did not speak out–
      Because I was not a Socialist. – Niemoller

      • Kim

        Yep. That is how the Church operated for centuries. Take take take and give nothing. I am only suggesting they give back what they took. If the govt. took it back by force, I wouldn’t protest. What do they need all that money for anyway? To fit the Pope in Prada? Jesus didn’t have a place to rest his head.

        As for the confiscation of money by the govt. of ordinary people, at is a crime against humanity. Take it from the Church!! They have more anyway.

        • Joe Shmo

          It is not the role of government to decide who “needs” their own money, gathered legally. Btw, I don’t support “the church”, I support freedom. And what you advocate is not it.

          • Kim

            I advocate freedom. Freedom from the yoke of an oppressive fake form of Christianity. Defund the Vatican.

          • Joe Shmo

            Participation is voluntary in their religion. Don’t like it, don’t play. Unlike the gov and taxation at the barrel of a gun. You’re pointing your fingers at the wrong group, IMO.

          • GSOB

            Let me minister to you. Ask. and you shall receive.

          • GSOB

            You are and remain less ‘free’ if you are not part of the Church, the body of Christ.

        • GSOB

          Give me your definition on what is the church and I will correct you if you are wrong.

          Ok?

  • gifteconomy

    Folks, we need a PARALLEL ECONOMIC SYSTEM = GIFT ECONOMY !
    Let us
    -PLANT FREE wiki-fruit-trees, veges… ALONG ROADS, IN PARKS.. = free abondant organic food = ABUNDNACE to all = first step toward INDIVIDUAL sovereignty = horizontal social structure without leaders
    -use & create FREE STUFF at all levels = best weapon against their profit based satanic system
    -SHARE & GIFT as much as you can = they can not make profit on our gifting
    Working out of PASSION could / should be

  • confiscator2013

    Yeah! They are going to confiscate all the millions you’re making from scaring this bunch of fools!

  • simpleman56

    We are screwed, the TBTJ Banksters have grown their bets larger than the 1st collapse! That’s why the Bail ins came to be, no more bail outs but they will debase the dollar!

  • Louise in MO

    La-di-da…this is right up Obama’s alley. Spread the wealth around…..spread everyone’s wealth around.

    Nothing more be said, really. The crash is right around the bend!

  • piratemarshal

    Get your money out NOW. These vultures won’t be satisfied until every common man and woman is broke and homeless. They are not even trying to hid the fact they are screwing you anymore…shameful

  • Nic

    Move to switzerland guys. Open several bank account in a day and hide your money.
    Oh wait, 2 late, with FATCA and fbar, no bank want your Money anymore.
    USA found a way to force you to keep the money in usa so they can take it now….

  • mountainaires

    Just look at the lawlessness of the Obama administration. Do you really think such people wouldn’t do it? That is why people should be screaming for impeachment; once a ptecedent is established it becomes “the norm.” Obama loves to use “norms” as his excuse to do anything he wants. When people acquiesce, they give approval.

  • TrickyRicky

    I can’t think of anything better our government would love to do with all US pension and retirement accounts. It’s only a matter of false flag time.

  • David

    I leave the main bank account I use overdrawn and top it up to zero. Overdrawn, zero…..rinse and repeat.

  • http://www.socionomics.net/press/book_reviews/Calderwood_TomorrowsHeadlines.html David C.

    The “money” was stolen a long time ago. “Bail-in’s” are simply recognition that there’s no “there” left in the “vaults.”

    Official and unofficial rehypothecation have been going on for decades, promising many, many people the same underlying asset. This allowed the appearance of wealth to grow to astronomical proportions; everyone thought they were rich.

    The bust phase of this, coming soon, will simply be a process (chaotic, no doubt) to discover who really owns the underlying asset, while everyone else gets stiffed.

    People holding credit accounts (savings and checking at banks, pension accounts, etc.) will discover they are unsecured creditors in a bankruptcy.

  • mike

    Its amazing they allow us to talk so freely on the internet as we do. I know this has to bother the big 6 media conglomerates and a lot the others who have influential power. I have been hearing a lot on the news about the potential of ‘cyber attacks’. I’m going to make a prediction here…there’s gonna be some sort of major cyber attack. Something extreme and outrageous. Some that will install fear in the populace like 9/11. And like 9/11, they are gonna say we need greater security. Guess what? We will not be talking as freely as we are after this event. Why? Because us talking is a threat to the establishment. Think about it. Think about everything we gave up after 9/11 in the name of greater security. You think it will not happen online too? Really think about it…My money is resting on the eventual policing of the internet on a scale unlike anything we are familiar with now. Just a prediction so enjoy this last bastion of freedom while it is here. It will not be here too much longer.

    • X3Charlie

      They haven’t been able to do anything about the internet, because it’s too vital to keeping everyone under. As long as people can use Facebook and watch videos on YouTube they won’t care if the world is imploding around them. Unfortunately only the minority of users use the internet to study and research.

    • Un espagnol indigné

      They won’t do that because the internet is the perfect way they have to control us. We believe that we are using a tool that promote freedom, but in reality, the internet is used to have a perfect knowledge (and records) of who we are, what we think, where we live, who are our contacts and friends, and, the most valuable thing for big corporations, which are our consumptions habits.

  • Mordecai Geoffrey Max Spiro

    Putin’s folks are showing the way they are the ones that screwed up Cyprus. Now corrupt square mile are as sleezy as it gets…none of these idol worshippers understand anything about economy all they know is how to steal. The Rothschilds are NOT ready to wake up unfortunately, still there is hope.

  • ds

    The 100,000 euro cap has been in place in the UK for decades. This is nothing new. Everyone with savings here knows not to put more than 100K euros into any single bank but spread it around. The government actually notifies the fact in the press / media.

  • FounderChurch

    Children & God are your only true Assets & you have trashed & burned both of your own free will. Lots of children give you a glorious immortality right here on earth, and God offers you heavenly immortality when you die. What a good deal, but no, you would rather wallow in cheap shaby materialism while killing your babies with ungodly birth control, and further kill your God with your ungodly love of money, as a bunch of prepper, relatively childless, old over the hill coots, spending the last worthless years and money of your wasted lives worrying about your pointless money. What’s that all about?

    • Un espagnol indigné

      Please, continue praying to your god, he (or she?) will help you when you finally realize the theft of your earthly wealth. I’m sure you are that kind of investors that hope to gain a lot of treasures in the long long term, in other words, after your death. But I prefer to get my money during the only life I have. Call it materialism, if you want.

  • Sandbagger

    What about companies that use their deposits for payment of employees, suppliers, etc? If their so-called “savings” are “shaved”, some people will find themselves without a paycheck (or at least a “shaved” pay!), and those companies will be forced to be delinquent on payments owed to other businesses for services rendered…creating a domino effect of defaults.

    This is REALLY bad! It’s much more than just on a individual level. This is lighting a fuse on an economic bomb.

  • Alex N

    Hey, you forgot Ireland and its “temporary” pension tax.

  • Randy Townsend

    Interesting proposition. At the risk of sounding like a right wing conspiracy nut (I’m not, BTW), the gubmint buying all this hollow-point ammo to arm the thugs carrying badges for all the different departments kind of makes sense if they anticipate a whole bunch of Americans who didn’t spend everything (and actually saved) being mad enough to take up arms against the people who did this…

  • GaryA

    As much as I like the blog and its ideas, this is a typical “switch and bait” argument. All deposits over 100K are uninsured, so there has always been a risk. If Cyprus banks were allowed to fail, all money above 100K would have been lost. I understand that this is a new philosophy of the rich – what I have is mine and government must guarantee it. We haev seen it in 2008 crisis and now seeing it all over the world. The reason being that all banks are basically insolvent due to deregulation and without government support financial system would have collapsed by now. Governments all over the world a printing money and pouring it into financial system. So, the system will collapse, just later. Guaranteeing deposits over 100K or 200K is nothing more but another aspect of bailing out. If the rich wants to keep a big chunk of their money, the bail-ins are a very reasonable price to pay.

    • nekksys

      Seriously??? Really??? You’re kidding right???

      Ok, look… That $100K depositors insurance thing you’re talking about ONLY APPLIES IN THE U.S. That’s why it’s called FDIC…

      And this isn’t about the depositors losing the funds in the event of bank failure; it’s about having PRIVATE funds taken away (stolen) to _prevent_ a bank’s impending failure. It’s about wealth redistribution and staving off the impending financial collapse. It is patent, wholesale stealing and nothing more.

      If the bankers had been doing their jobs right, there wouldn’t be any failures, right? Of course, there wouldn’t be any debt either and neither would there be any money since fiat currencies are worthless anyway…

  • Jakob Stagg

    They’ve been raiding pension since Reagan forced most retirement investments into the stock market. Mine have been through multiple crashes and whole thing is less than what was put in.

    Some call it a correction. Why do I feel raped and thrown in an alley?

  • wascator

    Governments already confiscate your money and you don’t even notice it. it’s called by several names: one is “inflation”. When corporations do this, it’s called “stock dilution”.
    Another is “government borrowing”. Useful to politicians because, when we will not agree to a higher level of taxation, they borrow money, and thereby obligate us to pay it back.
    They ARE taking your pension right now. I got my first retirement check in August, and it’s purchasing power in real dollars (that is, adjusted for inflation) is 1/3 of its value when it was promised to me. Same number of dollars, which buy 1/3 as much.
    Isn’t is smooth? They can do it and you never notice it nor raise a peep about it.

    • Un espagnol indigné

      I’m completely agree with you, and I’m very surprised of the fact that you only have a positive vote (from me…).

  • Ditto

    we are approaching “Jacobs Trouble”…

  • cs

    the bible says ‘no one will be able to buy or sell without the mark of the beast” the beast is the final world power money cabal of this earth headquartered in europe where the money cabal system is controlled by german jesuits!!! they are ravishing america right now soon america will be totally financially decimated by the enemies within and then destroyed & captivity by the beast money cabal…. it is all forming now watch it come to pass as all the pieces are being put together just as prophecy has outlined to this point!!

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