When Genocide Is No Longer Unthinkable…”If you have most of your money tied up in the bank, you are either the most generous person in the world, or you are a fool of monumental proportions.”
by Dave Hodges
TheCommonSenseShow.com
28 Jan.,2015
If you have most of your money tied up in the bank, you are either the most generous person in the world, or you are a fool of monumental proportions. Have you invested in developing the means to defend your property and family’s lives? Do you have enough food and water stored up to survive at least two years? Nearly every publication estimates the derivatives debt to be in the range of one quadrillion dollars to $1.5 quadrillion dollars which is 16 times the entire value of the planet. The game is over and the world’s economy is in the midst of entering a state of economic free fall. And what is going to happen when that occurs? There are going to be too many mouths to feed. Citizens will soon come to be viewed as an economic liability by their respective governments. Historically, what do governments do when they can no longer feed their people? The reader will be able to answer this question by the conclusion of this article.
Bank of America and the Death of the American Economy
If we want to know where the future will take us, we need to watch Bank of America. In an obscure, but well reported 2011 event, Bank of America announced it was shifting derivatives in its Merrill investment-banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This was announced as a news blurb in the main stream media and was prominently reported in the Daily Bail.
This was the single biggest financial event in the history of America. It was bigger than the 1929 stock market crash and it was bigger than the beginning of the bail outs in 2008, but it did not received the banner headlines that it should have received. What does this mean? It means that the Bank of America’s European derivatives are now going to be “insured” by U.S. taxpayers and its two most important financial institutions, the Federal Reserve and the FDIC. What is even more distressing is that the Bank of America did not even seek or receive regulatory approval for this action. This action was simply acted upon on behalf of frightened counterparties. Under the Federal Bankruptcy Act of 2005, the counterparties derivatives debt receive “super priority” when it comes to the disbursement of FDIC insurance payments to failed banks. Where do the rest of us stand in terms of reimbursement for a failed bank? We are in last place. In short, when your bank fails, your money is gone and so will be your ability to obtain life-supporting resources unless you are already prepared.
The Rest…HERE
