Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions
BY VOICE OF REASON
TheLastGreatStand.com
WEDNESDAY, DECEMBER 16TH, 2015
In the first video, Jim Willie gets into what he believes are the beginning stages of bank failures, and the effects that people should expect could come from those failures.
Derivative damage is starting to sap the capital out of these big banks. Global Research Reports:
The global derivatives bubble is now 20 percent bigger than it was just before the last great financial crisis struck in 2008. It is a financial bubble far larger than anything the world has ever seen, and when it finally bursts it is going to be a complete and utter nightmare for the financial system of the planet. According to the Bank for International Settlements, the total notional value of derivatives contracts around the world has ballooned to an astounding 710 trillion dollars ($710,000,000,000,000). Other estimates put the grand total well over a quadrillion dollars.
Some of the bigger banks Jim speaks about specifically that he believes are going to fail include: Banco Espírito Santo, Coutts, Barclays, Bank of Cyprus, and Societe Generale. They may not be domestic banks, but you can be sure their failure will cause a tidal wave size ripple in an already fragile economy here at home. Domestically, Jim touches on how some banks are making it harder to get money out with prolonged waits, and others (Chase) in California won’t even take cash deposits unless you bank at THAT branch. No question there’s some tension in the banking community right now, but would they *government) go after assets the way we saw in Greece if push really came to shove?
Short Answer: It’s Obama. Please! Longer Answer: There’s good news and bad news about that question. Good news, is no, Jim doesn’t think banks would seize bank accounts here domestically if and when the whole economy starts to unwind. Bad news? You might want to listen. Jim also gets into what it IS wise to own right now. Gold vs. Silver? Precious metals vs. Land? Etc.
Unfortunately he also talks about something that I talk about all too often, and wish more responsible economists would. Violence. Expect PLENTY of it. Where? Places where cash is disbursed, where food is scarce (which will be everywhere, and Jim explains why), and where people get fuel. If you’re reading this, you’re obviously not one of the ignorant fools out there buying whatever Obama is shoveling… and there is enough information contained in the links to tell you all you need to know. The links below with Peter Schiff and Jim Willie will convince anyone with an IQ over 6 that a financial tsunami is coming, and it’s not “conspiracy theory…,” but what you do with the information is up to you to figure out based on your needs and what you can realistically do…
The Rest…HERE
