(I received this email from a friend and thought it worth sharing. I have met the author and he really DOES know his stuff.)
I talked to a friend today.
Smart Dude, but he hadn’t quite grasped this whole Bail In operation.
It’s important to know what is being planned here. Your bank account could be at risk.
So let me explain it simply.
A strategy has been devised by the Global Financial Mafia (and I use that term advisedly) to protect banks – particularly the large banks – from the financial calamity that is going to result from the explosion of the derivatives bubble.
What is the “Derivatives Bubble?”
Derivatives are essentially bets – yes, like Vegas – bets between financial institutions primarily on the direction of interest rates. One bank thinks rates are going up, the other thinks they are going down and they bet.
The bet becomes a security, like a stock or a bond.
Then people bet on those bets and others bet on the bets of the bets and the bets pyramid to….
Today, there are about $1.2 QUADRILLION dollars in derivatives on the planet. $1,200,000,000,000,000.
About $227 Trillion are held by U.S. banks. $227,000,000,000,000.
The figures are mind numbing.
Banks can use depositors money to help fund their derivatives.
We are talking fiscal insanity.
Warren Buffet has called derivatives, “Financial weapons of mass destruction.”
Sooner or later this bubble will break. Banks who made bad “bets” will suffer catastrophic losses…or will they?
With the new “Bail In Strategy” (designed by the world’s top central bank in Basel, Switzerland) banks that suffer losses and are failing can take money from depositor’s accounts and convert the money to bank stock.
You’re scratching your head now thinking, they can’t possibly take my money….
The trouble is that once you put your money in the bank, IT IS NO LONGER YOUR MONEY. It’s the bank’s money. Yes, they owe it to you. But you are an “accounts payable.” You are what’s called an “unsecured creditor.” And unsecured creditors are paid out from a failing bank after the derivatives holders – the bank itself.
How much they can take is a question, as the FDIC, in issuing a memo on this procedure for U.S. banks, specifically omitted any mention of deposit insurance. Perhaps the insurance will apply, but Bail Ins are new, have never been done here before and the FDIC did not mention insurance in their Bail In memo.
To get the full story of who is behind this and how to protect yourself, read my new book, The Coming Financial Crisis A Look Behind the Wizard’s Curtain. Print or digital.
It is written in “plain english.” Learn what is in progress and how to protect yourself.
Knowledge is power. Get some.
http://www.amazon.com/Coming-Financial-Crisis-Wizards-Curtain/dp/0996968644/ref=sr_1_1?ie=UTF8&qid=1452065397&sr=8-1&keywords=john+truman+wolfe
How Would You Like 47.5% of the Money in Your Bank to be Stolen by the Government to Prop up the Banks?
That’s what happened in Cyprus 4 years ago and has the potential of happening here unless we demand better!
Tell your MP: dictatorial powers for APRA will not prevent a banking crisis—go with Glass-Steagall now!
The Citizens Electoral Council is calling on all concerned Australians to demand their elected MPs oppose the new draft bill giving the unaccountable bank regulator APRA dictatorial “crisis management” powers. Tell your MP that instead they should act now to prevent a banking crisis by passing a Glass-Steagall separation of deposit-taking banks from financial speculation.
Glass-Steagall is the name of the successful US law that, from 1933 to 1999, strictly separated commercial banks that hold the public’s deposits, from all forms of financial speculation, including investment banking, insurance and stock broking. For the 66 years Glass-Steagall was in place there were no systemic banking crises in the USA; its repeal in 1999 led to the explosion of financial gambling that caused the 2008 global financial crisis. Australia’s major banks are financial Frankenstein’s monsters that combine commercial banking with risky investment banking, insurance, stock broking, and wealth management.
MPs must choose between the successful Glass-Steagall approach that worked, and which will prevent a banking crisis, or giving sweeping “crisis management” powers to the unaccountable agency that allowed the banks to engage in the practices that are leading to a crisis.
APRA caused the crisis
Under APRA’s “supervision”, the banks have: built up a massive housing bubble by issuing more and more mortgages—now more than 60 per cent of all of their loans—against completely unrealistic housing values; allowed property investors to recklessly increase their leverage by using the unrealised capital gains on existing investment properties as collateral for more investment loans; issued an estimated $500 billion in so-called “liar loans” to borrowers who only qualified for loans through false information; amassed a $35 trillion exposure to derivatives, the toxic financial gambling instruments that blew out the global financial system in 2008; and, while being so reckless in housing and derivatives, simultaneously ruined many thousands of individuals, small businesses and farms through mass foreclosures triggered by penalty interest rates, corrupted valuations and a general policy of starving regional Australia and productive businesses and industries of credit.
APRA, which already has enormous powers, has allowed the banks to put all Australians at risk of a devastating banking crisis, yet the Treasury plans to give APRA even more sweeping powers to “manage” such a crisis. Treasury is doing this under the direct influence of the banks, with which it has a managerial revolving door—for instance, current Treasury Secretary John Fraser moved over from the giant Swiss multinational bank UBS.
Bail-in?
Treasury is also acting in coordination with the Financial Stability Board (FSB) that is based at the Bank for International Settlements (BIS) in Basel, Switzerland, of which APRA is a de facto subsidiary. These are the organisations that, following the 2008 GFC, developed the crisis-management policy called “bail-in”, under which a failing bank is kept afloat with money seized from its creditors, usually unsuspecting “mum and dad” investors and even depositors, as in Cyprus in 2013. Thanks to an intense mobilisation by the CEC in 2013, Australia has not yet finalised a bail-in regime, but this bill gives APRA the power it will need to direct a bail-in in the future.
Also, these organisations insist on what they call “independence”, which means they do not want to be democratically accountable, and they do not want elected governments to have any say over the banking system. Current APRA chairman Wayne Byres was the secretary general of the BIS’s Basel Committee on Banking Supervision (BCBS) from 2011 to 2014, when it specified in its 2012 “Core Principles for Effective Banking Supervision”, there must be “no government or industry interference that compromises the operational independence of the supervisor”. Why? Because elected governments are extremely unlikely to implement policies like bail-in, which would cause an enormous political backlash, and in a crisis may be tempted to implement policies like Glass-Steagall that protect people but take away power from the banks. This bill gives APRA the power to manage a banking crisis, not the government.
Bankers’ power grab
The draft Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017 is 228 pages long and the Explanatory Memorandum is 174 pages long. A legal expert who examined the bill for the CEC observed that “it is no wonder that MPs have difficulty reading and understanding complex legislation and rely on their parties for explanations and directions as to voting”. It is therefore vital that constituents bombard their MPs with their concerns on this crisis management bill to force them to pay attention; otherwise, most MPs will not know what they are voting on.
The bill gives APRA dictatorial powers to totally control all Australian Authorised Deposit-taking Institutions (ADIs, i.e. banks, building societies, credit unions etc.), insurers and superannuation companies. These include the power to:
- direct the financial institution’s actions; appoint itself to take over the financial institution; and transfer assets from the financial institution, i.e. all powers that would be needed for a bail-in;
- exempt officers, employees, agents and APRA appointees from liability, i.e. no accountability; and
- prohibit public disclosure of these directives, i.e. to take over the banks in secret!
What you can do
Visit, phone or email your MP with this message:
The APRA crisis management bill gives dictatorial powers to the unaccountable agency that is responsible for the banking crisis Australia is heading into. Instead of managing the crisis, the government should pass a Glass-Steagall banking separation to prevent it—now!
Click here http://www.aph.gov.au/Senators_and_Members to search for the contact details of your MP
If you have not already sent your MP a copy of the CEC’s formal “Proposal for a Glass-Steagall separation of Australia’s banking system”, include it with your message (see links below).
(Please inform the CEC of any response you get.)
Click here to order one or more printed copies of “Proposal for a Glass-Steagall separation of Australia’s banking system” to take to your local MP or Senators. http://cecaust.com.au/main.asp?id=free_Glass-Steagall_submission.html
Click here for a PDF copy of “Proposal for a Glass-Steagall separation of Australia’s banking system”, which you can download and email to your MP as an attachment. http://cecaust.com.au/glass-steagall/CEC_Proposal_Glass-Steagall_July_2017.pdf
Click here to join the CEC as a member. https://www.cecaust.com.au/shopping/shopexd.asp
Click here to refer others to receive regular email updates from the Citizens Electoral Council of Australia.
Why You Should NEVER Throw Your Boarding Pass Away, Not Even After Your Flight
3 Ranking Factors With Big Payoff Potential
An interesting article if you have a web site…
http://www.sitepronews.com/2017/08/14/3-ranking-factors-with-big-payoff-potential/
Marketing Email and Newsletters: UX Findings Then and Now
Summary: New research finds big changes in newsletter design and in customers’ attitudes toward marketing email.
https://www.nngroup.com/articles/newsletters/
Three-year legal drama settles $191,000 phone bill
$191,000 Phone Bill From 20 Hours Use of Stolen Moble
The MINUTE you lose your phone, borrow somebody else’s phone and notify your service provider!
https://www.mybusiness.com.au/technology/3202-three-year-legal-drama-settles-191-000-phone-bill
Is What You Are Told True?
Cecile posted a wonderful quote this week from Carl Sagan that was never so apt as when applied to those scammed by the medical profession into thinking that vaccinations were the result of the drop in infectious diseases:
One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It’s simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.
There is a quote to the same effect, attributed to Mark Twain but allegedly unproven as penned by him.
“It’s easier to fool people than to convince them that they have been fooled.”
Despite the disputes over it’s authenticity, it is, unfortunately, observably true!
So next time somebody presents you with data conrary to what you have previously been told, it might pay to stop and fact check the contrary data. And relying on daya presented by an “authority” as being more valid is very often a lazy and incorrect choice. Especially if they are asking you to trust their authority rather than actually looking for your self.
You cannot live long enough in one lifetime to learn all you need to know by direct observation, so you have to take in a great deal of data second hand, that is written by someone else who observed. But you do have to exercise more judgement with second hand data than you do with that you directly observe. One thing you have to ask is, “Is there a slant being given, is there a vested interest being forwarded with this data.”
Search-Log Analysis: The Most Overlooked Opportunity in Web UX Research
If you have a web site, your website’s search engine can tell you what your web visitors want, how they look for it, and how well your content strategy meets their needs.
https://www.nngroup.com/articles/search-log-analysis/?
Smart Phone Flashlight App
Wow! Vitally important data for you to know about your financial security.
https://www.youtube.com/watch?feature=player_embedded&v=Q8xz8xKEFvU#t=0
Take On The Corporations
Most of us would not knowingly, deliberately fund a terrorist organisation.
Most of us unwittingly do, every day, through the purchases we make.
To avoid this, take the following steps:
MAJOR TARGET:
To reduce the power (income, personnel and influence) of the multinationals and increase your awareness, competence and survival potential.
OPERATING TARGETS:
Become more aware. (Ignorance is never bliss. It leads to unpleasant surprises, often with disastrous consequences.)
Inform and educate yourself as to the way The System works and tread a different path.
Add your voice to the campaigns promoting sanity over vested interests, government power, tyranny and corruption.
Start by reading labels and understanding what is in what you eat and who is the owner of the business from whom you are buying.
Don’t buy things you don’t need.
Pay down your debt.
Get more competent at communication and selling and marketing.
Transition to a job that is on your basic purpose line. (Chances are it won’t be working for a multinational.)
PRODUCTION TARGETS:
Buy local, patronise mum and dad business and local farmers organic markets.
Have 50% of my weekly expenditure go to non-multinationals within 3 months.
Have 70% of my weekly expenditure go to non-multinationals within 6 months.
Make the time to make more of your own food rather than buying preprepared and packaged food.
Have 70% of my food made at home within three months.
Have 90% of my food made at home within twelve months.
Sell what you have that you do not need.
Clear out non-used items and garage sale or otherwise sell them – 3 months.