Beware of financial crisis to be used by the totalitarians.

 

 IS A GLOBAL FINANCIAL MELTDOWN NOW BREWING AGAIN?

A HOUSE OF CARDS THAT CAN COLLAPSE AT ANYTIME?

While everyone is preoccupied with the Ukraine war and woke culture, it appears a far more devastating crisis is brewing. Here's a question, Can you go to your bank today and request to withdraw 5 or 10 thousand dollars in cash? While I know most of the local banks will accommodate you, most of the big national banks will tell you to make a request and you will need to come back later to pick it up. Many of these banks do not have substantial cash on hand. There is in fact only 4% of the total amount of cash entries that actually are backed by paper money. Most everything is just a book entry. Banks at one time needed to keep 10% of deposits on hand, even as a book entry, since the last collapse they do not need to keep any of these funds.

Then it has recently been revealed that the FDIC, the insurer of your bank funds, has $200 billion in assets to cover over $9 trillion in deposits. If there is a crisis, will you be on the list of those who will be actually covered?

It also has been revealed that there is new policy being floated, something that has already happened in other countries, called a BAIL-IN. This is when instead of the Federal reserve bailing out banks that are insolvent, they will be allowed to confiscate depositors money to cover the losses. It may sound far out but is it worth risking your future in trusting that this debt laden economy can survive without someone taking a loss.

Today, if the electric goes out or the internet goes down, the only transactions possible will be with cash. In fact, some big stores will not even function with cash. Do you believe the ATMS are working in Turkey today? That is just a local crisis, but what can happen if there is a real global currency crisis?

Paper currency is in fact worthless, unless someone is willing to accept it for trade, digital entries are even more worthless, unless there is a complicated financial system intact. 

Do you  really believe that the current $32 Trillion Federal debt can ever be paid? Or that the $100 trillion in unfunded mandates can be sustained indefinitely? When the day of reckoning comes, you can bet most of us will lose all paper assets we currently own.

Currently most of worlds governments are carrying huge debts, there is now the real possibility of a change in the global economic system being brought about by a growing number of countries apprehensive of the present system. It is just one of the possible events to collapse this present house of cards of unsustainable debt. Remember, it is unsustainable, it will need to be reset at some point. Everyone will suffer, but some will be able to suffer less, if they take personal action to protect themselves the best they can.

Originally published 2/8/23

Update:

We see that the Silicon valley Bank, labeled a regional local bank, has just collapsed. We see due to its depositors being big donors and supporters of the administration it is to be bailed out even above its insured guarantee. Now there other banks failing and much of this has to do with collapse of the bond market which is going to be complicated by economic warfare being conducted with many bond holders, like China, who hold these bonds.

This is not a failure of capitalism and the U.S. constitution and the intended U.S. system. It is the failure of crony capitalism, which is fascism and the irresponsibility of our elected officials who have spent the last 50 years devaluing the dollar, buying votes with free stuff for the voters and massive corruption in the Federal government.

This collapse is inevitable and we can expect to be told we need a new system with more government control of every facet of human life and a departure form this constitution, which if followed, has provided the the success of this United States.

Do not be deceived, we can expect crisis to be an opportunity by the authoritarian and totalitarians in our government to at last transform this country into a totalitarian government.