The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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  • cannuck21

    No you are not Michael. The chaos which is the EU may well be the tipping point that pushes the US into deep recession. The EU is quickly falling apart. Youth unemployment in the Med countries is in the 50% region (a soul crushing event in itself). As you state correctly the economy is in free fall. Hopefully after a period of ‘unrest’ a new Europe based on a trading block will emerge…but lest wait and see.

    • Marcus

      Sorry, say that again please. “The chaos which is the EU”. First of all, it is US who is sitting on $20 trillion debt with $9.5 trillion ‘gone missing’, printing $85 billion per month (1$trillion) per year and you are saying that EU is the chaos.Nobody in the history of the mankind managed to print his way out of it, US will not be the first one either.You do understand that this is deliberate don’t you?It’s one part of the global depopulation plan, FEMA camps, vaccination, GMOs etc. I hope you are ready for it but trust me when I tell you that chaos called EU is like boyscout camp compared to the mess US is in.

  • Ctlady

    No Michael you are not overreacting. This is the direction Europe is going in. It won’t be long before TPTB adopt this plan right here in the United States.

  • Anne

    No, not an overreaction. And really, it is just a matter of time before it hits the US. The Fed has already had meetings about doing this here. Really, all we have now is slavery to the banks. US citizens are not aware with NDAA and Patriot Act, the stuff in their Safe Deposit boxes is not considered their own property of the GOV so deems (it also includes storage units).

  • maby

    there is no news from europe on the media ,I check the italy closing business on independent news online there is a monthly report it is scary, am wonder why europe is not engage in printing the euro to kick the can down the road?.

    • Ralfine

      Some people want to have their own currency back so that they can print their own money and kick the can down the road.

      Others
      don’t see a solution in kicking the can further or printing more money, and rather say spend less.

      It is the latter ones that are hated most.

  • markthetruth

    The trade war is all about China vs USA , and that Pakistan has now handed over the ‘management and operation’ of Gwadar port to a Chinese company .A strategic port.for oil trade to the Far East and Europe.

    the end…

  • Rufus T Firefly

    What this means is lots of money moving to the safety of USA banks

    • Gkjohn

      It’s just The Federal Reserve ,s money coming back through the ECBank. Transferred via Swift in Belium back to The Fed who created the money . In essence it’s thin air coming back to thin air. All the Fed compcontroler does is push the SEND button and when the money comes back keep 18% and press the Delete button !

      • Graham

        I like the 18% bit. Sounds like PROMIS in action.

  • markthetruth

    Never cry over spilt milk, because it may have been poisoned.

    the end…

  • Ayn Rand

    Definitely not. The stealing of the common citizens money will send shockwaves across the international system. People in Europe will going on bank runs VERY soon.

    • Ralfine

      VERY unlikely. Only those with more than 100,000 euros in one bank are affected, and only if that bank is going bust.

      Fat cats don’t run, they waddle.

      • Ayn Rand

        As Michael said, a lot of people who are in retirement and small businesses/medium businesses will lose money. Besides, even if I had an account in Europe that had less than 100,000 Euros, I would still withdraw most of it for fear of haircuts.

        • Ralfine

          If the bank goes bankrupt, you lose your money. Why should the taxpayer cover your losses?

          • Ayn Rand

            I agree. However, this will erode confidence in the banks, which will help to destroy the system as the banks lose capital.

          • Ralfine

            What confidence? There isn’t any confidence anymore. People only use banks today, because that’s the only way to get their money from the employer.
            And it is still a little bit safer than keeping the money in the house.

          • Ayn Rand

            I see what you are saying. I do agree. I just feel that whatever little confidence their is will now be TOTALLY eroded.

          • Ralfine

            Well, no. What you call confidence is “If I make a mistake, the state will pay for it.”
            “If I am reckless and gamble all my wealth away, the government will pay for it.”
            “If I am criminal and make so much damage that it surpasses any imagination, I can say sorry, and the society will cover the damage.”

          • Gay Veteran

            because the government is supposed to be regulating the banks

          • Ralfine

            The government is not the taxpayer. The government is paid by the taxpayer.

            So why should the taxpayer pay the government and the banks?

            Just pay the government to make rules that hold the banksters and gamblers responsible for losses.
            And make rules that make sure that banks hold a certain percentage of their deposits, and balance deposits and loans, in order not to go bankrupt so easily.

            China is increasing the minimum security holdings of the banks gradually since the Asia financial crisis of 1997.

          • Gay Veteran

            There would be no bailouts IF the government properly regulated the banks and prosecuted the banksters who engaged in fraud

          • Ralfine

            exactly, that’s what they want to aim for now. but even if there is persecution, there will be losses tobe covered by the owners, bondholders, shareholders, depositors.

          • JustanOguy

            @gayveteran:disqus — Define Fraud when banks are allowed to make loans 10 times the deposits on hand under the current fractional lending system.

            Being stupid and making / rubber stamping through a bunch of bad home loans is not fraud.

            Bad business decisions made by bad banks should not be the responsibility of the taxpayer to bail out.

          • Gay Veteran

            “…Being stupid and making / rubber stamping through a bunch of bad home loans is not fraud….”
            They made loans knowing they would not be paid back. They put these loans into Mortgage Based Securities and sold them. That was FRAUD

          • JustanOguy

            Perhaps you can actually cite a law in place before MBS investors were duped that considers this fraud?

            Ethically bankrupt of course because of the high probability that SOME loans would not be paid back…. but there was NO guarantee that they were NOT going to be paid back.

            With your perception… then I guess all of the “Stimulus” money spent on all of the companies that eventually went BK was also fraud?

          • Gay Veteran

            you need to educate yourself, Karl Denninger (one of the founders of the tea party movement) has written extensively about the massive fraud the banks engaged in.

          • JustanOguy

            Already did long ago… I’m in a related business and knew what eventually happened was going to happen all the way back in 2005.

            There is a reason why there is not ONE Executive that supposedly “knew” that the home loans were going to be defaulted on is not in jail… or has even been fined for that matter.

          • Gay Veteran

            the only reason the criminal banksters are not in jail is because they own the government

          • WorldFailure

            Or the bankers should be forced to cover the loses, take away all their assets, their cars, their houses, their secrete Caribbean mansions everything, just like when an ordinary person fails to pay back a loan. Why bankers have absolutely no accountability and responsibility is beyond me, it’s the problem with today’s society we believe they are something special, something above us ordinary people, the rules apply to us but not them.

  • 2Gary2

    By me taxing the rich I am saving their soul. Behold:

    Mark 10:21 Jesus looked at him
    and loved him. “One thing you lack,” he said. “Go, sell everything you
    have and give it to the poor, and then you will have treasures in
    heaven. Then come, follow me.”

    Mark 10:23 Jesus looked around and said to his disciples, “How hard it is for the rich to enter the kingdom of God!”

    Luke 12: Then he said to them, “Watch out! Be on your guard against
    all kinds of greed; a mans life does not consist in the abundance of his
    possessions.”

    Luke 19: But Zacchaeus stood up and said to the Lord, “Look Lord!
    Here and now I give half of my possessions to the poor, and if I have
    cheated anybody out of anything, I will pay back four times the amount.”
    Jesus said to him, “Today salvation has come to this house, because
    this man, too is a son of Abraham. For the Son of Man came to seek and
    to save what was lost.”

    Luke 21:3, 4 “I tell you the truth,” he said, “this poor widow has
    put in more than all the others. All these people gave their gifts out
    of their wealth; but she out of her poverty put in all she had to live
    on.”

    “Jesus opposed and criticized to his death; lying hypocrites, and greedy rulers”.

    • Ayn Rand

      Lol, nice one gary. that is actually quite true. I am not Christian though, so I will forever want to destroy the government and taxes.

    • Robert (qslv)

      Zaccheus was a tax collector. Gary, are you saying tax the IRS? You go first.

      • Louise in MO

        I think taxing the IRS is the best idea I’ve heard in a long time!

        • 2Gary2

          works for me too.

    • Joe Shmo

      Gary… you draw parallels between charity and confiscatory taxation. Not the same my friend. Invalid argument. And no, you still can’t have my stuff!

      • Ralfine

        If you donate to charity, then there won’t be anything for Gary to tax.

        But you don’t need to watch Gary, as he wants to spread your wealth to the poor.

        You need to watch the government.
        They use any pretext to arrest you on terrorism charges. You can go home until the trial for 500,000 bail, and if you confess, you only face 8 years in a private labour camp.

    • Shmeggle Marxist

      youneedtosucksomemorecockyoupieceofshit

    • Syrin

      Do you even realize how much you embarrass yourself? It’s two fold. First you show us the depth of your intellect by not being able to differentiate having your property taken away at gunpoint versus giving it of your own accord to those you deem worthy. Second, you show us the depth of your greed by constantly coveting others property. So you are a complete a$s bag morally, and an idiot intellectually. Gary, you will not survive what is coming.

      • 2Gary2

        Syrin–I am glad you find what I say educational. Hopefully you will take it to heart and turn from your wicked ways.

        BTW–Just because you keep repeating your BS does not make it any more true.

    • olde reb

      if you understand the bible, you will know that the Sadducees and Pharisees that were the objects of much ridicule in today’s society would be identified as Democrats and Republicans–they were political designations. It is written that “if you have two cloaks, sell one and buy a sword.” The Saccarii was a homicidal political faction that carried a dagger under their cloak removed political elements (including a high priest) in the press of the market (Temple courtyard). Jesus was the leader of a tax protest.

    • JustanOguy

      Sorry… but I don’t see anything in the Bible that demands the government take the money from the rich to give to the poor.

      Certainly nothing that states confiscation from the producers to give to the lazy non-producers sitting around doing nothing all day.

  • MeMadMax

    If you didn’t see this coming a mile away then you need to get out more(or just pay attention)

  • Ralfine

    That’s good. Let the bank go bust, nobody is too big to fail.

    Bond holders and shareholders pay for the losses, not the taxpayer.

    Deposits below 100,000 are protected.

    Deposits over 100,000 may assume losses, if the bank goes insolvent.

    Why should the taxpayer be held liable?

    • Ayn Rand

      I agree with you, however this IS BAD. The thing is, this WILL erode trust in the banks and will cause bank runs, at least for some people. Our system is already screwed up enough, so there will be pain to go along with this. In a true laissez-faire economy, these banks would have never gotten so big that they could impact the world like this. But THEY HAVE GOTTEN THAT BIG!

      Another thing is, the big banksters at the top won’t be taking haircuts, even though it IS THEIR FAULT what is happening. It will cause devastation.

  • Ralfine

    Yes, you are over reacting.

    Please read again what you quoted:
    Bond holders and shareholders shall take the hit before taxpayers.

    What’s wrong with that?

    Why should the taxpayer be held liable for the failings of compulsive gamblers?

  • chilller

    Filthy bankers use every means possible to insure themselves against loss..derivatives being the most flagrant and dangerous. Now, they will simply steal to insure themselves. They pretend they are shielding tax payers but they are still in line to be bilked. This only gives bankers more room to make higher risk bets. Can’t think of a quicker way to kill off a business…or bank.

  • Ralfine

    Is it wealth confiscation when losers are told that they have lost and they won’t be bailed out by the taxpayer?

  • Groundgrubber

    Baby steps. Once the sheeple have accepted the concept that larger deposits are the property of the Govt, small deposits, retirement plans and investments will follow.

    • aa

      I totally agree with groundgrubber. Only I expect it to be even more far reaching than that. I fully expect that all payroll checks, pension checks, social security checks and all other checks cashed at banks will automatically have a certain percentage confiscated-a mini bail in on every cashed check.

      • Pavan

        I’m thinking that having a stash of silver medallions hidden in the forest might be the only safe solution. Maybe 5000 or more would be a good start. They are a small enough denomination that you could actually spend them.

      • Groundgrubber

        There was a proposal in Gt Britain in the last few years where the
        entire pay for a worker would be transferred from the employer directly to the
        TaxDept. They would deduct all assessed payments and (any) balance then
        passed on to the worker.

        • Syrin

          Holy crap…

        • Michael Joaquin

          I live in England, that’s how the system has worked for YEARS..its’ called PAYE..

        • moohaahaa

          No there wasn’t.

        • Ralfine

          Not really, but right now the employer employs a payroll company that calculates your taxes, and then the employer pays your taxes and the payroll company sends you the payslip.

          Check your tax payment carefully, because the payroll companies often make mistakes. Then, in April, contact HRMC (IRS), to get a refund (takes about 4 weeks).

          In Hong Kong it is much easier. The employer pays you what is written in the contract. No deductions.

          He tells the tax office how much he paid to whom (because he wants to have these costs recognised as costs).

          You tell the tax office how much you got from each employer.

          The tax office compares all information and then calculates the tax for you, so that it is in YOUR best interest, and they give you time to pay your tax in two installments over 6 months.

      • Ian Mathers

        In some service industries in the US, they are beginning to issue to employees a ‘payroll debit card’, subject to extra bank fees. They won’t have any problem just taking what they want….before you even see it.

    • Hammerstrike

      That is the thing, governements does not even own their own deposites, cartel of banks does.

      Give me control of a nations money supply, and I care not who makes it’s laws.

    • JustanOguy

      Anybody who has over 100,000 Euros in a European bank account or $250K in one U.S. Bank Account is a fool to begin with.

      • Pascal

        I know how safety deposit reembursement limits are set …thus when the next financial squeez will occur I know for sure that it will take $2.50 to buy 1€ …..it’s a no-brainer !

  • Covington

    Same thing happening in Mexico which is just now in the process of overhauling its financial system in order to comply with international banking standards. The overhaul here consist of 44 changes to the current national banking laws and bail ins are just one big component.

  • guest

    No…

    In fact due to the Dodd-Frank legislation here, you and I are unsecured creditors for the banks here in the US as opposed to depositors. We’re in the same boat here.

    Canada is going down that route too.

  • seth datta

    What’s the point of telling most of them? They’ll happily jump off the cliff for the NWO, after being bribed with unhealthy foods and useless trinkets and entertainments.

  • Rodster

    Let’s see Brazil, Chile, Turkey, Egypt are all protesting and rioting over economic conditions. We know Spain, Greece and Italy have had protests and riots and England has had their share of protest. You can also add China to this list.

    The Global economy is collapsing. You can only keep the fiat based Keynesian based economies only going for so long before they crash.

    This time is different because thanks in large part to global trade all the economies are linked together with Central Banks propping up one another with QE.

    Yeah, I think you are overreaching a bit [sarcasm inserted].

  • Trailer Park Investor

    I moved my Billions out of Cyprus banks the day before they froze the accounts, NOW looks like I will have to move my Billions out of European banks. Here we go again.
    I am so glad I get insider information, helps me keep my money intact.
    I am here to tell you,
    Political contributions pay for themselves many times over!

    • edward

      They took my billions now I am near homeless with only 12 mansion to live in …

  • Trailer Park Investor

    Lets see: Banks run Casino style gambling, making bad bets with OUR money and when they loose they TAKE our deposits (investment) in their banks to cover their losses. (Sounds like the perfect job to me).
    BUT what happens IF the depositors (I mean investors) money above $100,000 does not cover there gambling losses? I guess in that case they take IT ALL.

  • bruce

    Actually part of the plan is the correct action. Bond holders and investors should take the hit instead of taxpayers. The idea of useing gov money to bail out private enterprizes was corrupt in the first place. Seizing deposits was theft. Depsoit insurance is capped in this country and has been for a long time. It is prudent to not have more in a bank than is covered.
    Instead of a knee jerk reaction. You should be applauding the fact that the EU has stated it will no longer bail out banks with taxpayer money or do you think that TARP ect were good ideas? The $100,000 guarentee is no different that what was here prior to 2008.

    • edward

      Yes and this will add the world collapse as no one will have enough to bail them out .

      • JustanOguy

        Please explain how letting a bad bank fail and not be bailed out with taxpayer dollars is going to add to a world collapse?

  • Brett McQuigg

    No, everyone else is under-reacting to it. But I am no longer convinced that any one of these economic atrocities, will have much impact on the masses. I am amazed on a daily basis, by the ability of the banksters to keep the global ponzi scheme rolling along, and by the complete apathy of most of the American Public.

    • Crony

      Most of the public understands the situation about as well as the prosecution’s key witness in the Zimmerman case understands the Queen’s English.

  • Dave Webb

    Are those Cyprus Bankers still alive? They offended the most feared people on the planet! I guess miracles happen.
    We are not talking about average citizens losing their pocket change. We are talking about billionaires. We are talking about people that made their money as Drug Lords. These people with huge amounts of cash are not nice people.

    We are talking about huge money interests all over the planet. So suddenly these bankers want to steal their money from them?
    Wow! they are far braver than I ever will be. There are places where they will be lined up against a wall and shot!
    But maybe, just maybe, those people won’t be stolen from. Just the sheep world wide will get stolen from.
    I suggest the bankers better come up with a better solution than Cyprus.

  • Cairan

    Do we have the NAMES of those involved in the global looting?

    • Graham

      Haha. I’ve been trying that one here for over a year. Nobody seems interested that a known “group” are behind all this mayhem and they have covered their tracks for “decades” under a pile of vile lies that most still seem to believe without questioning.

  • Shmeggle Marxist

    has anyone noticed if it is becoming dangerous to travel in these European cities?

    • Syrin

      How so?

      • Hammerstrike

        Dieversity.

  • Syrin

    No, I saw this story before you posted it here and circulated an e-mail to about a score of others.

  • 2Gary2

    Thanks–I am actually reading my bible from beginning to end. Just finished up Deuteronomy. As good as the bible looked on the shelf unless I read it and put into practice what it says it will do me no good. I even usher at church now. Michael–you should be proud. Some of the things you and others say has rubbed off on me.

  • 2Gary2

    Debtism–Great insight as usual Pollo

    • El Pollo de Oro

      Gracias, jefe! This weekend, I was in Atlantic City walking along the boardwalk with a friend of mine. She says to me something along the lines of, “It’s easy to get mugged in Atlantic City only a few blocks from the boardwalk.” And I said, “Yeah, but when you get mugged in Atlantic City, all you get is an empty wallet and a nasty bump on the head. When the banksters rob you, they’ll take your life savings, your house and even the clothes on your back.”

  • JoeD

    This is actually a very capitalistic solution, I don’t understand why there is such outrage. For starters Cyprus was a completely different situation because they suddenly tried to change the rules after something had to be done. These rule changes give people adequate time to plan and prepare.

    When you deposit money in a bank you’re essentially extending them credit either payable on demand or at a specified date in the future if a time deposit, plus applicable interest made at specified intervals. So why shouldn’t depositor’s money be placed at risk ahead of the taxpayers’? It was all the time in the US prior to the adoption of a socialistic yet popular deposit insurance program.

    Putting the depositors on the hook also forces the banking executives to exercise greater discretion and show more responsibility because it creates another layer of accountability that helps align the interests of shareholders who want maximum returns and depositors who demand a safe haven for their money.

    Bottom line is if the bank goes bust someone’s going to lose, why shouldn’t it be parties interested in the bank’s well-being instead of the taxpayers?

  • BankRunnee

    THIS IS GOING TO HAPPEN EVERYWHERE !!!

    Japan is going to take it out of retirement funds. A new Zealand minister is either thinking/ or will implement it. Just Google:

    “National planning Cyprus-style solution for New Zealand”

    As Gerald Celente has quoted “This is the biggest bank robbery in history, & it’s the banks that’s doing the robbing.:

  • Jollyroger

    You nailed it.
    Dr. Paul Craig Roberts described Americans as the most dumbed down, ignorant and disinformed people on the planet.
    No they’re not! They know all the latest contestants on Dancing With the Stars, who won the BB playoffs, and all about Kim Kardashian’s divorce from Kayne West. So there.
    Besides I don’t wanna know about bank failures and NSA spying on me as long as I feel safer from terrists, it’s all that counts…now I can go back to watching America’s Got Talent and eat my Fritos and a bottle of Mountain Dew.
    Honey…what’s on after this?

  • tomtom

    How could some piece of metal, like gold or silver, be a safe solution??? Ever tried to eat it? Forget this concept, this is one of the reasons why we got here..

    What you can rely on the most when the financial system collapses are your knowledge, skills, experience..

  • Jeffrey Merk

    This is a heavy blow, assuming, of course, that you even have money to begin with!!

  • Hammerstrike

    The police state is not just to crush dissidence, its purpose is also to seize the people´s wealth, that is YOUR wealth.

  • Ralfine

    There is another nasty plan in Europe.

    They want to slash the mobile roaming charges, so that you use your mobile phone more when you are on holidays and can be monitored even on the beach.

  • BeenThere

    But where would you put your money? I am sure the US will engage in this fraud soon. Other countries (eg New Zealand) have already

    • Ralfine

      What do you call fraud?

      Right now, when the gamblers make losses the government is using taxpayers money to bail them out, to finance it they increase tax and close schools.

      Now they want the gamblers take these losses, and you you call: FRAUD.

  • Gene Baugh BBA

    The large depositor, over FDIC limits, is at risk here as well.

  • JustanOguy

    Good thing that up to $250K in a U.S. Bank account is protected by the FDIC when a bank fails.

    …. Which is about 191,000 Euros.

    The new changes really are not that different then the current U.S. Banking system. Difference is that Congress can act to bail out their buddies that are “too big to fail”.

  • JustanOguy

    What happens to a depositor that has over $250K in a U.S. Bank that goes under that does not receive a bail out?

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