Cyprus, an island Republic of nearly 1 million people, only represents a very small fraction of the Eurozone financials; but look at the shockwaves that have been sent through the system while the recent 10% Confiscation of private bank account money unfolds…
The bankster elite have gotten away with so much, for so long, and with no consequences, that they are now emboldened to simply take YOUR money… in broad daylight, right under your nose. The ‘YOUR’, for now, are those with private bank accounts in the Cyprus banking system. Most of you know by now that they have declared a Bank Holiday over there, and while the banks are closed, they are robbing them blind…
The bankers ultimate dream is a cashless society. In one, they will have taken total control. When the time comes when transactions are not accepted with a cash medium, ‘they’ will then have obtained the ability to fully manipulate your behavior.
Think about it. While many of us enjoy the conveniences of debit cards, automatic payments, online banking, automatic deposit, etc., many of us also are encountering or transacting in ‘cash’, less and less.
A downside to a cashless society is the fact that EVERYTHING you buy will be logged, applied to algorithms, and stored in databases. Those who have access to the databases will be able to profile you. If the profiler is the government, or certain corporations in collaboration with the government, they could potentially create profiles and rules for you, your transactions, your habits and movements, and even impose limits or premiums for certain behavior. You could really go deep with conspiracy related potential abuses of such power, and thinking it through (the devious possibilities) is not beyond the realm of what could one day happen. When it comes to government, it’s always about the money and control.
You will never again be free should the bankster gangsters, in cahoots with the guberment, be able to track and monitor your every financial move in real time.
But guess what? They are experimenting with this right now, as I type this, with the U.S. military. According to TheIntelHub.com, who recently received a note from a deployed military member, the military has implemented the Eagle cash card, a misnomer since there’s NO CASH involved.
We are already using “Chips”, however, these chips are “Smart Cards” with chips on them. It is called the “Eagle Cash Card”. As with most technology that the government employs, they are trying it on the Department of Defense in areas not in plain site of regular civilians.
We basically use it as anyone would use a standard Credit Card, however, the funds come directly from our bank accounts. We can load funds on it and immediately use it at every vendor. We can also transfer funds among each other (From Soldier to Soldier).
This sounds similar to a debit card, which withdraws directly from your bank account. The difference though appears to be person-to-person transactions, and the apparent ability to transact ALL financials among the parties involved… for EVERYTHING.
This is just another part of the slippery slope into a 100% fascist society, controlled by a tiny group of elite psychopaths. “I have been using it for more than three years now at an undisclosed location in the Middle East.”
Things aren’t out of control yet in this realm, but just remember that power corrupts, and absolute power corrupts absolutely. When the system goes live, YOU will be your ‘ID’, and you will not be able to transact without joining the system. They will have achieved absolute power (over you). No doubt that if you do not join, you will be breaking the law.
As technology advances and these things become increasingly doable, and are accepted more widely, you can visualize what it could become. Some will argue how this will not be a problem and how it will be ordinary technological advancement in our modern society. Others though will recognize how this will lead to total control of a enslaved modern people who themselves will not be free (as our forefathers defined freedom). Instead they will be led (pulled) by the brass ring in their noses as they live within the confines of that ‘modern’ system. The powers-that-be will extract what they want, while the people will have no choice but to comply – or starve.
They will have to ‘ban’ backyard vegetable gardens first, but I’m waiting for that bit of legislation… they’ve already implemented some forms of this, but that’s another post for another day.
There was a stunning comment (letter) left today on the U.S. Commodity Futures Trading Commission website that ‘apparently’ verifies from a JPMorgan Chase employee what many people already believe regarding the conspiratorial aspect of the relationships and manipulations between the biggest most powerful banks and elected officials. The following letter reveals the conscience of someone there who simply cannot stand by and let it happen without saying something, while hoping that others will come forward.
Frankly, I’m shocked that this is still up on their website at this moment, but will not be surprised to see it removed, so I’m copying the text here. Among the excessive greed, corruption, and manipulation going on at these ‘institutions’, lets hope that there are enough good people left to call out those that are bad.
I have bolded some of the text for emphasis.
Link to original whistleblower comment:
Update: The whistleblower comment has been removed from the CFTC website (3-16-2012)
From: Z A N
Comment No: 57019
Dear CFTC Staff,
Hello, I am a current JPMorgan Chase employee. This is an open letter to all commissioners and regulators. I am emailing you today b/c I know of insider information that will be damning at best for JPMorgan Chase. I have decided to play the role of whistleblower b/c I no longer have faith and belief that what we are doing for society is bringing value to people. I am now under the opinion that we are actually putting hard working Americans unaware of what lays ahead at extreme market risk. This risk is unnecessary and will lead to wide-scale market collapse if not handled properly. With the release of Mr. Smith’s open letter to Goldman, I too would like to set the record straight for JPM as well. I have seen the disruptive behavior of superiors and no longer can say that I look up to employees at the ED/MD level here at JPM. Their smug exuberance and arrogance permeates the air just as pungently as rotting vegetables. They all know too well of the backdoor crony connections they share intimately with elected officials and with other institutions. It is apparent in everything they do, from the meager attempts to manipulate LIBOR, therefore controlling how almost all derivatives are priced to the inherit and fraudulent commodities manipulation. They too may have one day stood for something in the past in the client-employee relationship. Does anyone in today’s market really care about the protection of their client? From the ruthless and scandalous treatment of MF Global client asset funds to the excessive bonuses paid by companies with burgeoning liabilities. Yes, we at JPMorgan that are in the know are fearful of a cascading credit event being triggered in Greece as they have hidden derivatives in excess of $1 Trillion USD. We at JPMorgan own enough of these through counterparty risk and outright prop trading that our entire IB EDG space could be annihilated within a few short days. The last ten years has been market by inflexion point after inflexion point with the most notable coming in 2008 after the acquisition of Bear.
I wish to remain anonymous as of now as fear of termination mounts from what I am about to reveal. Robert Gottlieb is not my real name; however he is a trader that is involved in a lawsuit for manipulative trading while working with JPMorgan Chase. He was acquired during our Bear Stearns acquisition and is known to be the notorious person shorting in the silver future market from his trading space, along with Blythe Masters, his IB Global boss. However, with that said, we are manipulating the silver futures market and playing a smaller (but still massively manipulative) role in manipulating the gold futures market. We have a little over a 25% (give or take a percentage) position in the short market for silver futures and by your definition this denotes a larger position than for speculative purposes or for hedging and is beyond the line of manipulation.
On a side note, I do not work directly with accounts that would have been directly impacted by the MF Global fiasco but I have heard through other colleagues that we have involvement in the hiding of client assets from MF Global. This is another fraudulent effort on our part and constitutes theft. I urge you to forward that part of the investigation on to the respective authorities.
There is something else that you may find strange. During month-end December, we were all told by our managers that this was going to be a dismal year in terms of earnings and that we should not expect any bonuses or pay raises. Then come mid-late January it is made known that everyone received a pay raise and/or bonus, which is interesting b/c just a few weeks ago we were told that this was not likely and expected to be paid nothing in addition to base salary. January is right around the time we started increasing our short positions quite significantly again and this most recent crash in gold and silver during Bernanke’s speech on February 29th is of notable importance, as we along with 4 other major institutions, orchestrated the violent $100 drop in Gold and subsequent drops in silver.
As regulators of the free people of this country, I ask you to uphold the most important job in the world right now. That job is judge and overseer of all that is justice in the most sensitive of commodity markets. There are many middle-income people that invest in the physical assets of silver, gold, as well as mining stocks that are being financially impacted in a negative way b/c of our unscrupulous shorts in the precious metals commodity sector. If you read the COT with intent you will find that commercials (even though we have no business being in the commercial sector, which should be reserved for companies that truly produce the metal) are net short by a long shot in not only silver, but gold.
It is rather surprising that what should be well known liabilities on our balance sheet have not erupted into wider scale scrutinization. I call all honest and courageous JPMorgan employees to step up and fight the cronyism and wide-scale manipulation by reporting the truth. We are only helping reality come to light therefore allowing a real valuation of our banking industry which will give investors a chance to properly adjust without being totally wiped out. I will be contacting a lawyer shortly about this matter, as I believe no other whistleblower at JPMorgan has come forward yet. Our deepest secrets lie within the hands of honest employees and can be revealed through honest regulators that are willing to take a look inside one of America’s best kept secrets. Please do not allow this to turn into another Enron.
-The 1st Whistleblower of Many
You may never have heard of them. The ISDA, the International Swaps and Derivatives Association, is an organization more powerful than any nation government, and is apparently about to redefine ‘sovereign default’.
Why are they so powerful? Because they represent (their members consist of) the largest banks in the world and they literally define (determine) what a credit event is. More specifically, the ISDA governs whether and when a credit event is determined to be a ‘default’.
Today we are standing on the threshold of a credit event that will determine how the Greek debt will be handled. The ISDA will determine whether this is a sovereign default or not. If it determines that Greece has defaulted, then the 5 largest banks in the United States will fail.
Why will these banks fail if Greece is determined to be in default by the ISDA? Because they (the banks) have gone wild issuing 97% of the world’s Credit Default Swaps, or CDS’s.
What are credit default swaps? They are a form of insurance which is purchased by clearing houses who purchase risky debt, such as that in the Eurozone: Greece (for starters). A credit default swap is an agreement that the seller of the CDS will compensate the buyer in the event of a loan default. The buyer of the CDS makes a series of payments (the CDS “fee” or “spread”) to the seller and, in exchange, receives a payoff if the loan defaults.
So, here’s the question…
Will the ISDA determine that Greece is in default?
Why not? Because the ISDA, whose board of Directors include Bank of America, J.P. Morgan Chase, Citi, Goldman Sachs, Morgan Stanley, and other majors… will not shoot themselves in the foot. Instead, word has it that they will likely redefine the Greece ‘credit event’ as 30 cents on the dollar.
What is the likelihood of your mortgage lender saying the following to you, after you tell them that you don’t have the money and can’t pay them back? Lender: “It’s okay, we won’t categorize this as a loan default, just pay us back 30% of your loan, and we’ll call it good”. ??? Really?!
This is insane. What’s next for the ISDA? 10 cents on the dollar? What happens when they finally get to zero, which it should have been in the first place? How long can they keep this secret from the main stream? There isn’t much time left for this imploding system, and it is astonishing that the main stream news media is not covering this. A media blackout.
All of this will most certainly, definitely, lead to QE3 (quantitative easing) to infinity.
(QE) is an unconventional monetary policy used by central banks to stimulate the national economy when conventional monetary policy has become ineffective. A central bank buys financial assets to inject a pre-determined quantity of money into the economy.
What does all this mean to you and I?
Answer: The powers-that-be will continue to prop up their chosen too-big-to-fail entities and sovereigns in order to keep the ponzi scheme going until such time that the empty shell collapses on itself. According to Jim Sinclair, who alerted us about this ISDA action in a recent post, he believes the system is more at risk now than it was in 2008, that people don’t understand the fragility of the system, and the system as it exists today will collapse and simply cannot go on more than another 2 years. That brings us to 2014. If he’s right, we’ve got 2 years to prepare.
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The nation’s 2nd largest lender, Bank of America, has been warned by US regulators that the company could face a ‘public enforcement action’ if the bank doesn’t take immediate steps to ‘strengthen the bank’, a statement which apparently rattled the bank’s directors, and should rattle their depositors who have a pulse.
Bank of America’s stock price (BAC), which was once above $50, is now barely above $5 and has lost 58% of its value this year alone.
It is unclear when regulators will decide whether more severe measures are necessary.
Since mid-2009, Bank of America has appointed eight new directors and made a number of internal changes ranging from how it classified credit to risk and liquidity-management controls.
Regulators are shortening the leash on the nation’s biggest banks as they try to prevent future blowups. Bank of America shares have tumbled 58% this year—the biggest decline among major U.S. banks.
Source: The Wall Street Journal>
Question: Would you stay invested in a company that has lost 90% of it’s market value? Do you still have your checking and savings there?
It’s not just Bank of America… the FED is set to test six big U.S. banks for ‘Euro stress’. Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.
The U.S. Federal Reserve plans to stress test six large U.S. banks against a hypothetical market shock, including a deterioration of the European debt crisis
“They are clearly worried about the issue of Europe,”
The Fed said its global market shock test for those banks will be generally based on price and rate movements that occurred in the second half of 2008, and also on “potential sharp market price movements in European sovereign and financial sectors.”
It doesn’t end there… according to a Bloomberg report, the Federal Reserve just told the 31 largest U.S. banks to test their loan portfolios and trading books against a deep recession and a European market shock to ensure they have enough capital to withstand losses.
Do you get the feeling that the FED is getting nervous? (Rightfully so, i’d say…)
Where’s your money at? Perhaps it’s time to check the strength of your bank, or switch to a credit union.
Here is a website where you can check your bank or credit union rating. Bankrate.com
Most everything is interconnected these days. If Europe implodes (say, even if just Italy or Spain implodes), so will a very many financial institutions, like dominoes. These entities are so leveraged, that if even a fraction of their loans are called in / default, they will go belly up. So, check your bank rating to see if they have sufficiently strong assets to survive economic Armageddon, before it is too late for you…
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A salute to a free Iceland for boldly telling the international mob banksters to go stuff it. “The state did not shoulder the responsibility of the failed private banks” Iceland President Olafur Grimsson told Bloomberg Television. “Taxpayers should not be responsible for paying the debts of a private institution”
For the second time the Icelandic people have rejected the demands from the U.K. and the Netherlands to pay billions of pounds and euros to the British and the Dutch by way of a loan offered at 3 percent interest until the year 2046, along with admission into the EU.
The demands are supposed ‘payback’ resulting from bank losses suffered during Iceland’s financial crisis of 2008 when the Icelandic people and government felt they should bear no responsibility for the losses that foreigners endured. The ‘private’ banks during that time had debts near 120 billion, 10 times the GDP of Iceland itself. Iceland refused to bail them out and in turn, let them fail.
This latest ‘offer’ from the Brits and the Dutch was soundly rejected by the Icelandic people who insist on independence from the international bankster institutions who themselves have no interest in borders, nations, or independence.
Perhaps the time has come for the nations of the world to issue themselves debt free currency instead of borrowing money printed from private banks. After all, the United States used to do it, before the birth of the Federal Reserve Bank in 1913. Every dollar printed into existence (paper or digital) is born into debt because of the way this system works.
Perhaps governments should not get involved with the private sector and too-big-to-fail policies. Why should the people, who pay the government, pay for the risky behavior and losses of international conglomerations who themselves could care less about the people or the nation itself? Just doesn’t seem right does it…
Could it be that ‘the people’ have now for the most part, isolated their real enemy, a common enemy amongst many nations people — the central banksters?
Revolution is sparking up all over. The banksters in their house-of-cards built with quadrillions of dollars of teetering leveraged promises must know that the gig is about up… Like a cornered rat, they are dangerous, and will surely fight back. Except they are outnumbered.
From NETRIGHT DAILY, “If that fervor catches on amongst taxpayers worldwide, as it has in Iceland and with the tea party movement in America, the banks would have something to fear; that is, the inability to draw from limitless amounts of funding from gullible government officials and central banks. It appears that the root cause is government guarantees, whether explicit or implicit, on risk-taking by the banks.”
So now that Iceland has slapped down the international powers-that-be, what will be the retribution dished back? Time will tell.
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