Coming Bank Holiday!!
US BANK SYSTEM SHUTDOWN IS BEING PLANNED, WITH THE SOURCE BEING THE US STATE DEPT INFORMING ITS MANY EMBASSIES. EXPECT DISRUPTIONS DURING THE BANK HOLIDAY, POSSIBLE BANK HEISTS, FORCED MERGERS WITH BIG DEAD BANKS, FOLLOWED BY A SEVERE US DOLLAR DEVALUATION. THE TIME LINE IS FOR BANKS TO SHUT DOWN IS SEPTEMBER, JUST TWO MONTHS AWAY. EITHER THE SYSTEM IS IMPLODING FROM WITHIN, OUR EXTERNAL FORCES HAVE PULLED THE PLUG.
How one bank – Goldman Sachs – bribed the Clinton Administration, the Democrats, the Bush administration and the Republicans – to take over the US banking system.
Harry Schultz is a veteran newsletter writer (Harry Schultz Letter) and expert analyst, whose reputation is beyond reproach. He wrote in his June newsletter a preface to a surprise event of magnificent magnitude and importance, with only one precedent in US history. He wrote, “Some US embassies worldwide are being advised to purchase massive amounts of local currencies, enough to last them a year. Some embassies are being sent enormous amounts of US$ cash to purchase currencies from those governments, quietly, but not £’s [British Pounds].
Inside the State Dept there is a sense of sadness and foreboding that ‘something’ is about to happen, unknown as to a date, within 180 days, but could be 120-150 days.” Notice the US Dollar and British Pound are grouped together, both to become unavailable.
Schultz continues with more detail, some speculation, and advice. He refers to Franklin D Roosevelt, who imposed the last bank holiday at the end of the Great Depression. Schultz wrote,“My HSL suspicion is that the Elite plan another FDR style ‘bank holiday’ of indefinite length, perhaps very soon, to let the insiders sort out the bank mess which is getting more out of their control every day. Insiders want and need to impose new bank rules. Widespread nationalization could result, already under way. It could also lead to a formal US$ devaluation, as FDR did by revaluing gold (and then confiscating it). But devalue against what? The euro? Doubtful. Gold? Maybe. Or versus the IMF basket of currencies (which seems more likely) and much in the news recently. Any kind of bank holiday will push the US$ lower, which may be a bonus benefit to their ongoing scenario of letting the US$ fall. Such a fall would get the devaluation they want without having to declare it. In sum, the insiders want more bank and system control, fewer banks, and a lower USDollar. A bank holiday would suit all their needs& Obviously, you cannot open safe boxes if the banks are closed, so plan accordingly. All this is speculation, but we have to go with what we’ve got, scraps of information that point to certain possibilities. In any case such a closure will, IMO, come sooner or later, as the worst of the embedded [credit] derivatives are still to be faced. We are years away from solving them because the controllers do not want to, since their fingerprints are all over them & PS: during the FDR bank holiday, thousands of banks never reopened. It was a face saving way of shutting them down. I would guess the same would occur today. Thousands have little or no net value, loaded with debt, and bad mortgages.” (Minor edits were made to make Harry’s unusual style more readable, with no change to content)
Schultz elaborated some more on the prospects of price inflation arriving in force. He prefers non-US$ companies, many listed in US and Canada or Australia. He wrote, “The world is staggering today between stagflation and net deflation right now. It varies widely around globe. Net deflation is a maybe 35% risk, due to toxics [toxic assets] and/or deepening depression. Bit more likely, we will slowly creep up to a dangerous 4.5% [price] inflation on average, medium-term. But the wild card is the currency risk, which has a 50% (?) chance of boiling over and causing literally overnight (i.e. 24 hours) mega inflation in the asset markets.” He implies that the stock market might be a beneficiary of monetary inflation, as easy money floods into the financial markets and bids up prices. The same flood would bid up the gold price. He recommends 35% to 45% devoted to gold mining stocks and gold bullion. The story was reiterated by Peter Brimelow on Market Watch for further publicity and legitimacy (CLICK HERE).
Bob Chapman actually broke the story, but Schultz used his enormous pulpit of thousands of subscribers to broadcast the message with ample publicity. One of the Chapman subscribers reported overheard two FEMA (Federal Emergency Mgmt Agency) men wearing official jackets talking to a police chief in California. FEMA would take control nationwide in a virus epidemic. They wanted to federalize the entire police system across the United States. They discussed plans for the US Govt to close the banks in late August or early September, and that will get ugly, in their words. Chapman quotes another source that “Panasonic has told their people to be back in Japan by September 2009.” There is an internal confirmation on US bank shutdown.
My best source of bank information confirmed the report of US bank shutdown plans by the US Govt. A confirmation came, saying “This report is 100% correct. It is much worse, and it will get a lot worse than most people can imagine in their wildest dreams. The arising opportunities and arising risks are limitless. Those who get it early enough (within the next 8 weeks) will prosper, and those who do not will fail, never to get a chance to recover. It will be a mega cleansing process. People who are privileged to read Jim Willie’s Hat Trick Letter will say ‘the guy had it all figured out and wrote about it in a polite and gentle way.’ Greetings from the epic center.”
One ex-US Military contact also confirmed the bank shutdown plans. He has friends located inside the US Homeland Security Agency. He passes on word that the HSA has extensive drills to prepare for national riot control in urban centers in early October. He also mentions that HSA has by far the dumbest, least talented, and unimpressive staff in all the USGovt. They accepted rejects from all other agencies like FBI, CIA, and National Security Agency, Drug Enforcement Agency, and Alcohol Tobacco & Firearms Agency when the HAS agency was originally formed. The other agencies did not wish to part with their best staff, of course.
One should doubt that Canadian bank locations will be much different from US chaos during the period when banks are shut down temporarily. Maybe the US states along the Canadian border will accept Canadian Dollars temporarily for transactions? Who knows? Nothing in the last 18 months has been normal, and no return to normal comes. Those who think normal will return are lunatic and blind. The past is forever gone, along with its system, soon to be supplanted in violent manner with shock wave after shock wave. In fact, within 12 to 18 months, shock waves will become the norm in my view. The actual trigger events are unclear, but the credit derivatives must be breaking all over the place for last few months. Hidden fires are dealt with using AIG under the US Govt aegis, but damage is surely occurring elsewhere. The US banking system broke last autumn. All that keeps it held together lately is corruption and rubber bands, supplied with unlimited liquidity funds channeled into the dominant syndicate centers on Wall Street, assisted by grand propaganda and phony accounting rules.
Here is my best forecast & speculation of what might specifically occur during a US bank shutdown, and immediately afterwards. Bank heists would be prominent and widespread, given the perfect environment of darkness. The theft would include gold bullion centers. It would also coincide nicely with the possibility of Elite theft of gold from major gold storage centers in addition to the Royal Canadian Mint. The bank heist would likely include inactive accounts nationwide as well as entire bank deposits at lesser known banks, selected as vulnerable without protection in either New York City or WashingtonDC. Blame would be given to nameless rogues, when Wall Street firms would be deeply involved. During the shutdown, many regional and mid sized banks would be forced by US Govt order, under the cloak of national security and emergency, to merge with big money center banks.These larger banks are the zombies often described, and the banks responsible for most bond fraud if not counterfeit. They are dead. They are masquerading as viable in order to attract stock issuance capital. They would sponsor seizures painted as mergers, where perhaps the US Govt will order the majority of regional and mid sized banks to ‘team up with an upper echelon bank’ for systemic risk defensive purposes. Banks across the nation might be forced to find a money center sponsor bank. It will be a raid on their assets.
The US Dollar should suffer a 30% to 40% sudden devaluation. The gold & silver prices should rise by 20% at least, held back by continued stubbornfraud in the COMEX. The US Dollar devaluation would officially be touted as beneficial, to trigger a possible US Economic recovery. However, it would cause instant commodity price inflation and a rise in the entire national cost structure. It would be beneficial to export companies, but their customers are under extreme duress. It would at the same time inflict greater hardship on US households on a cost basis. The US Economic recession would worsen very badly, become a recognized depression. The red herring is the unknown effect on both credit derivatives and the COMEX gold contracts. The credit derivatives would suffer shocks from the US Treasury Bond impact, surely not positive, as bond yields would probably rise from lost confidence in both the US$ and UST Bond simultaneously. The COMEX gold contracts are directly related to the US Dollar exchange rates. Major disruption and potential fractures could come to the COMEX, which could actually shut down for a longer period than the US banks. During the period of darkness, legitimate hope might be justified into thinking that the COMEX might actually never open. It might be broken, exposed, and suffer the shame of criminal prosecutions finally. That might be wishful thinking. Extreme problems would come, however, to the COMEX if discontinuity comes to price structures. That is a certainty!!!
The other major unpredictable outcome is social disorder, chaos, riots, destruction of property, and public frustration. The inaccessible bank accounts mean no new money to purchase food, to pay for utilities, to buy gasoline. The national economy would grind to a halt. My realistic view is that the US Govt and Ruling Elite bankers wish to spark riots so that they can declare a state of emergency, so that they can declare martial law. They anticipate a violent reaction. If viruses are unleashed at the same time, the nation will sink into total chaos and lock down into countless pockets of isolation. Shutting down the banks might be necessary to restructure, with or without criminal intent. Nonetheless, shutting down the banks might be a planned step toward ending the Republic and beginning a new Fascist state with totalitarian powers. They might shut down banks so as to create a response that sets into motion the new system the Ruling Elite lust for.
by Mark, Sundance Electric