Capital Controls: The Final Phase in the Great Looting of America
Friday, August 13,2010
Instituting capital controls seems like the next big event in the government-banking-oligarchy’s great looting of America.
First, these vampires designed “free trade” agreements to use slave labor abroad at the expense of American jobs. Next, they moved their investment capital and assets abroad sucking the life-blood out of the U.S. economy. Then, they covertly used America’s remaining wealth to prop up their bogus financial instruments like credit default swaps and derivatives, which came crashing down. Finally, they got their taxpayer bailout, and now they want your pension funds and cash deposits to stay under their control.
This last stage of the mass looting requires your wealth to remain in their possession. They seem to be setting up several ways to control the remaining capital. One of the first tactics used by the banksters to control your money was to get the SEC to adopt a proposal to allow money market funds to suspend withdrawals during a financial crisis to prevent bank runs. As reported on ZeroHedge:
A key proposal in the overhaul of money market regulation suggests that money market fund managers will have the option to ‘suspend redemptions to allow for the orderly liquidation of fund assets.’
Money Market funds, which account for nearly 40% of all investment company assets. The next time there is a market crash, and you try to withdraw what you thought was “absolutely” safe money, a back office person will get back to you saying, ‘Sorry – your money is now frozen. Bank runs have become illegal.’