Pressure (Countdown) Toward Breakdown

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investorzzo's picture
investorzzo
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Pressure (Countdown) Toward Breakdown

For those looking to dismiss the rumors of a widely orchestrated plan to shut down the US banking system, for whatever stated or actual reasons, perhaps attention should be directed at the US Dept of Homeland Security (HSA) and the Federal Emergency Mgmt Agency (FEMA). Not only are they spanning the nation in making tentative preparations for a series of bank holidays, but they are working to enlist the police forces at the state and city level under the federal law enforcement system, in addition to the national hospital system. Anecdotal stories stream in from around the country, impossible to ignore. Who knows what legal grounds or unfolding events precede such a development? Watch a turf battle perhaps between HSA and the FBI. To be sure, tremendous stress is at work within USGovt agencies, ministries, and elsewhere. My focus is primarily on the financial impacts, never to be swayed by official stories and pronouncements. Mine is not a concern for over-arching networks of power in control, but for breakdowns of the individual systems. Let the billionaires fight among themselves, as our role is to protect our own wealth and to avoid congames.

SHOCKS, STRESSES, BREAKDOWNS, PLANS

Back to reality on US soil. Many reports have come to the effect that at the end of August, a financial breakdown is due, and a shutdown of US banks is planned. We await the trigger events with mystery and intrigue as overtones. Some on Wall Street, arrogant to the end, believe that widespread awareness prevents the actual unfolding of events. They are suffering from a terminal disease though, as they believe they are in control. They are not. The USGovt creditors are in control. The August Hat Trick Letter reports have identified five major factors pointing to a severely stressful period of time at the end of August and into September. The FDIC is scheduled to release its Second Quarter Report that could reveal up to 1000 banks expected to croak, surely enough to exhaust their rescue fund by between 20-fold and 100-fold. Tin cups are heading to the USCongress committees. The USGovt federal limit must be extended again, and Treasury Secy Geithner has requested a $12.1 trillion limit. That limit must be extended sometime again soon, like before next spring 2010. Maybe September 15th and March 15th could be declared Debt Limit Extension dates officially, and make them national holidays. The nation could celebrate debt. Details are in the report, but surely not a blow by blow outline, since a crystal ball is not an office feature.

 

http://www.financialsense.com/fsu/editorials/willie/2009/0813.html

investorzzo's picture
investorzzo
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Re: Pressure (Countdown) Toward Breakdown

What happens when the system becomes totally corrupt.

http://www.financialsense.com/fsu/editorials/barry/2009/0813.html

 Despite the Federal Reserve's disastrous stewardship, Congress plans to convert it into a “super-regulator,” giving it even more control over the U.S. economy. The Fed already has few checks on its power, as it is a private entity, not part of the government as many believe. In addition to driving monetary policy, it would gain “sweeping new authority to regulate any company whose failure could endanger the U.S. economy and markets.” This change would “sidestep most jurisdictional disputes” and centralize the economy under the direction of an unelected non-governmental body run by the banks.

The Democratic leadership intends to push this through Congress quickly, in what I think is a reaction to Dr. Ron Paul’s successful Audit the Federal Reserve campaign. He already has enough co-sponsors to pass his bill in the House of Representatives if it were allowed to come to a vote, but party leaders have blocked it. If the Fed gets to captain the economy, it can refuse to account for its actions as a matter of national security.

For years, the American people have passively allowed the banks to rake in obscene profits on the backs of the taxpayer. Finally, we are seeing some grassroots resistance to this blatant favoritism, with “tea party” protests and angry constituents confronting their representatives at formerly placid town hall meetings.

Unfortunately, this awakening is too late to prevent the destruction of the U.S. dollar. The debt bubble has already burst, and the attempts by the Fed to reflate it have created an enormous burden on the U.S. taxpayer. Since I first detailed the bailouts last October, obligations have ballooned from approximately US$2 trillion to an incredible $23.7 trillion according to Neil Barofsky, the special inspector general of the Troubled Asset Relief Program (TARP).

 

tx_floods's picture
tx_floods
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Re: Pressure (Countdown) Toward Breakdown

I read the article by Jim Willie a little earlier today - It was downright spooky.

I guess I'm still working through the six stages - Some of Mr. Willie's claims were so far out of the norm, it's hard for me to believe that those things will/may actually come to pass. Time will tell. He's made a case for calamity beginning at the end of this month. We'll see what happens.

investorzzo's picture
investorzzo
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Re: Pressure (Countdown) Toward Breakdown
tx_floods wrote:

I read the article by Jim Willie a little earlier today - It was downright spooky.

I guess I'm still working through the six stages - Some of Mr. Willie's claims were so far out of the norm, it's hard for me to believe that those things will/may actually come to pass. Time will tell. He's made a case for calamity beginning at the end of this month. We'll see what happens.

The thing is, he's not the only one who has. It's also coming from Bob Prechter, Gerald Celente, Jim Rodgers, Max Keiser, Peter Schiff, Marc Faber, Bob Chapman and others. Jon

investorzzo's picture
investorzzo
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Posts: 1182
Re: Pressure (Countdown) Toward Breakdown

The Chinese will be out of the dollar in a year or a year and a half, Bob Chapman

http://bobchapman.blogspot.com/

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