Tag Archives: Banking

Breaking up with the banking system…

It seems that more and more people, either online or IRL are breaking up with the banking system. They’ve had enough with being treated like slaves.
Take a look at the following links and ask yourself if you can live without a bank account or a tether to the banking system:
https://christianbattlefront.wordpress.com/2013/03/15/my-wife-and-i-are-going-to-divorce/

http://poorrichards-blog.blogspot.com/2013/03/unbanking-vs-underbanking-how-to-break.html


The economic rumblings are getting much louder…

I won’t sit here writing this, and pretend that I understand all of what is happening in Cyprus. I don’t understand what is happening with the Euro, or the global economy. I am certain the details and minutia would boggle my mind. I can’t seem to wrap my head around how this crisis slipped up on us unaware.
I realize a personal economy and banking is vastly different than central banking, but I just don’t get how this happened so suddenly.
How is it that an internet full of chicken little blog posts saw this coming and the investors and bankers didn’t? That doesn’t make much sense to me at all.
The only thing I do understand about this is that the governments borrowed their way into massive debt,  or the private banks made very risky loans, and now the citizens have to suffer.
Last week, there was talk of looting whatever money was left in the citizens’ bank accounts by a tax of as much as 70% of savings, but was eventually overturned. Ultimatums are now being put on Cyprus to accept the conditions of a bailout or face a national, governmental bankruptcy.
As the citizens became more and more aware that any money they had that was in the banks could be subject to seizure or worse, they began to line up at the ATMs to get what they could before it was all gone. To avoid a run, banks instituted limits on cash withdrawals.
Other citizens, angry at even a thought of confiscation of their hard earned money, began to riot in the streets. This is all well and good I suppose, but their infrastructure is crumbling due to this financial mess. Very soon, they will face a situation much like Greece did, shortages abounding.

What most Americans are waking up to is the fact that these incidents are not isolated pockets of misfortune half way across the globe. They are the tremors of a large quake that is about to hit the global economy. The framework for a confiscation, or collapse protection is already being setup here in the U.S. These events could very well be seen in history as the beginning of a very large, sustained, and painful correction.
Hold on to your seats everyone, this may get a little bumpy…


Be prepared

I see a storm and its coming now,
and I can feel it in my bones.
I know you can feel it too,
but you think that you’re, you think that you’re all alone…

Those are lyrics from a song called “Poison Trees” by The Devil Makes Three. These lyrics are quite appropriate for our current political and economic climate. We can all feel a storm coming and it looks like it will be a bad one. In fact, economists are now predicting the financial collapse to be so difficult to bear that our civilization won’t recover.
What is scary about this is the interconnected, and thus interdependent nature of our economic ecosystem. Our food and energy delivery systems, and all other vital services/systems we need are at a very grave risk of implosion.

“And what’s really disturbing about these findings is that the pattern isn’t limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well.”

 When this happens, not if, we will see many people suffering. The suffering we see today will be a fond memory compared to what we will face. In a time like this, we all need to be very aware and prepared. It could come upon us very quickly with little reaction time.
Prepare now! Beg, borrow, or steal what you need to protect yourself and your family!


Great Overview Of The Banking Crisis In Cyprus

Right after I finshed my last blog post, I ran across this article which is very troubling. I highly recommend taking the time to read the article. The author explains the details and puts the pieces together very well. It is worth your time, especially if you have any money in the bank. Here is a quick exerpt:

Cyprus lawmakers may have rejected the bank account tax, but the truth is that the financial crisis in Cyprus is just getting started.  Right now, the two largest banks in Cyprus are dangerously close to a meltdown.  If they fail, depositors could end up losing virtually all of their money.  You see, the banking system of Cyprus absolutely dwarfs the GDP of that small island nation.  Cyprus is known all over the world as a major offshore tax haven, and wealthy Russians and wealthy Europeans have been pouring massive amounts of money into the banking system over the last several decades.  Yes, those bank deposits are supposed to be insured, but the truth is that there is no way that the government of Cyprus could ever come up with enough money to cover the massive losses that we are potentially looking at.  This is a case where the banking system of a nation has gotten so large that the national government is absolutely powerless to stop a collapse from happening.  If those banks fail, depositors may end up getting 50 percent of their money or they may end up getting nothing.  We just don’t know how bad the damage is yet.  And considering the fact that many of the largest corporations and many of the wealthiest individuals in Europe have huge mountains of cash stashed in Cyprus, the fallout from a banking collapse could potentially be absolutely catastrophic.

I am very worried. This global economy is very fragile right now, and it could be disastrous if the looting of people’s money continues. On top of this, we are at the precipice of world war 3. I sincerely hope that we can get out of this without too much pain, but that is unlikely at this point.


US Media Ignored LIBOR for up to a month!

As reported from this blog, the US media has ignored this story for over a month! It seems that we are getting a false picture of the enormity, or scale of this story.Corporate Media Blacked Out Libor Scandal For More Than A Month

That’s not just some unfounded speculation either as Media Matters has done the research to back up the claim with facts.

Their scathing report shows that the corporate media either ignored the story altogether or gave it very sparse coverage in sound bites revealing little information for over a month after the story broke.

The story just refused to die and has been making headlines in Europe forcing the US media to at least acknowledge it since.

Although manipulation of the news is of no real surprise, it should at least wake us up to the fact that there is a lot going on here, and it doesn’t just affect European economies. This was a global financial rigging of the interest rates and many many people lost their jobs and their homes due to this.

It is turning out to be one of the biggest financial frauds in recorded history and the MSM in the states is not keeping us informed on issues that impact us directly and catastrophically!


Quick explanation of the “Algos Gone Autosell Wild”

From Zerohedge.com

Here is a quick summary of what happened (courtesy of www.zerohedge.com):

In summary:

  • Rogue algo strikes number of stocks: up to 148 symbols impacted
  • WFC preferred security JWF trades 4.9MM shares, and trades down more than 10%
  • VZ, PEP, RSH, BBY, WFC and many more all affected
  • Appears to be an auto buy program error on some issues
  • An auto-sell program on other issues

But wait! There’s more!

I hate to sound like a conspiracy nut (there are a few out there believe it or not) but there have been a few reports of the stock market doing the same things right before 9/11…

Josey Wales from “Before It’s News” wrote yesterday:

Today Stock Exchange trading went off the charts with 2000% increases instantly. This is EXACTLY what happened 2 days before 911. It’s happening again!

I honestly don’t know what to make of this. I don’t want to turn into a chicken little, yet I also don’t want to ignore this data. I suppose each one of us will have to decide what this means for ourselves. Keep an eye on the market in the next few days/weeks.


Organized fraud behind LIBOR scandal

There have been plenty of banking scandals, but none quite like this: Investigators and political leaders believe that the manipulation of the Libor benchmark interest rate was the result of organized fraud. Institutions that participated could face billions in fines and penalties.

Organized Fraud Cartel Emerges At Center Of Libor Scandal

Of course there had to be organized fraud behind this! There is no way this scandal could have affected this many people or have be so deeply entrenched in all of the big banks without some sort of organization to it.

I predict that very few of the “top dogs” will actually be affected by this. It is starting to look like a RICO scandal, and there will be a few mid level employees gladly falling on their swords in a vain attempt at licking boot.

When will this corruption end, and what will be the final cost?


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