That's crazy!!
Bullshit I say, just bullshit. It can't happen here.
Try to learn to breathe deeply, really to taste food when you eat, and when you sleep, really to sleep. Try as much as possible to be wholly alive with all your might, and when you laugh, laugh like hell. And when you get angry, get good and angry. Try to be alive. You will be dead soon enough."--Ernest Hemingway
Hubby and I went to a doin’s last night. It was a 40th birthday party. The atmosphere and food was wonderful. There was much laughter and fun as people gathered and share the events of their world.
I was taken in by the older crowd gathered at the end of a couple of long tables, the younger folks mostly hanging around the bar and food area. If you have ever taken a minute to listen in on older folks conversations, as a rule, we talk about our aches and pains, surgeries, and doctor visits. Once everyone has had their turn at providing their personal health testament, we move on to the grandchildren, familiar people’s obituaries and then complaining about what the neighbors are up to. The conversations at these events are pretty much home fried and local. I have a tendency to pretty much just listen because my interests are quite different, more open and worldly.
“I just don’t seem have any motivation this year.” One lady said. “Yeah, me neither. I feel like I just don’t want to do anything anymore.” Another lady added. “What’s up with that? That’s not me.”
I was thinking, damn they must be putting lithium or fluoride in the chemtrails they have been bombarding us with lately making everyone lethargic, when I got a ping on my phone. It was an alert from one of the sites I follow.
'BLACK MONDAY FOLLOWING BLACK FRIDAY'- 'DO NOT ALLOW ANALYSIS PARALYSIS' TO OVERTAKE YOU -MOVE FAST EVERYONE IS EXPECTING MASSIVE BANK RUNS STARTING MONDAY MORNING-MOVE AHEAD OF THE EVENTS AND PANIC EVEN SUNDAY -AS YOU ARE ABLE!THE WORD UNHINGED ,UNGLUED AND MIND BOGGLING ALL COME TO MIND IN REFERENCE TO BANKING AND FINANCE BUT ARE TOO TAME- UPDATED 1;39 AM MST:IN THE UK AND EUROPE THE PEOPLE ARE LINED UP OUTSIDE THE BANK'S WAITING TO GO IN AND GET THEIR HANDS ON THEIR MONEY,EVEN THOUGH BANKS AREN'T OPEN ON SUNDAY-SO WAITING FOR MONDAY!
Instantly, I remembered what Lindsey Williams once said, “When it happens in Europe, you have two weeks before it happens in America. Hear what I say, you won’t recognise America in 5 years.” That was 5 years ago.
Oh my god! “We’re going down!” I said in a surprised exasperation. I looked up and everyone at the table was looking at me with a deer in the headlights stare.
“Banks are beginning to fail,” I said. “There are long lines and bank runs in Europe. People are trying to get their money out.”
“Oh, I don’t have to worry. I don’t have any money.” Said one lady totally unconcerned. “Hey, Ginny, did you. . . ? The conversation quickly returned to current personal events.
I got home and jumped on the computer to see what was up. I found not only were they lining up at the banks in Europe to get their money out but in California at Silicon Valley and First Republic banks, too. Long lines at First Republic Bank
Body Language from the CEO of SVB-Interesting!
Please forgive me, but I’m one these crazy people who like ask the questions that can’t be answered until after the fact. I’m quite used to deer in the headlight stare and people simply turning and wandering off. (I lost subscribers for my fun post of “Lead Paint and iRobot.” Sorry that my attempt at humor offended you.)
Will these failing banks bail in or bail out I’m wondering?
Bailout vs. Bail-In At a Glance
Bank Bailout: The government uses taxpayer dollars to buy out toxic assets and infuse capital into failing banks to keep them from going under.
Bank Bail-In: Rather than using taxpayer money to infuse banks with capital, banks can seize money from depositors, turning debt into equity to keep the bank afloat.
That’s right, they can take your money. When you put money in a bank, you trust that institution to keep your savings secure. However, in a post Dodd-Frank world you are not simply a customer or depositor – you are actually legally classified as an “unsecured creditor.” That means anyone who carries a balance of over $250,000 could have money taken directly from their account without permission to help keep a struggling bank from going under. (Harry and Meghan keep their money in SVB. I wonder if they will be unlucky and loose it?)
Making matters worse, the U.S. Government is not equipped to adequately protect American bank customers against the long-arm of the Bail-In Legislation. The Dodd-Frank Act clearly states it will “protect the American taxpayer by ending bailouts,” by imposing the losses of insolvent financial companies on their common and preferred stockholders, debtholders, and other unsecured creditors (i.e., the bank customers).
Therefore, while a customer’s bank deposits are protected up to the $250,000 insurance limit by the FDIC, getting any reimbursement on a deposit claim could hinge on whether the FDIC has enough money left to pay it after paying off the super priority derivative counterparties, especially in light of the fact that the assets of the FDIC are microscopic (in the billions) compared to the valuation of outstanding derivatives (in the trillions). See the article here
What other horrors could we expect?
In my humble opinion, we could possibly see a domino effect of smaller banks and credit unions, the mom and pop banks. After the economic homicide of the smaller banks is finally over all that will be left would be 4 or 5 major big boy banks. Now these fat cats institutions certainly would become free to gorge themselves and become obese gobbling up the body parts of mom and pop banks like a well cooked turkey on Thanksgiving. They will own everyone and everything just like it was planned. I wouldn’t leave out the possibility even the government CDBC will be funneled through these 4 or 5 mega sized institutions.
Another thing that could go away or change would be Bill of lading vs. Letter of credit.
This pretty much means that if the buyer of goods for his store or warehouse isn’t able to secure a letter of credit from his lending institution the goods normally delivered to him by either truck or ship won’t get delivered. No guarantee of payment, no delivery of goods. Thanks to the use of electronic computing systems our just-in-time delivery apparatus is operated almost totally by credit.
What is bill of lading and letter of credit?
Let’s hope that doesn’t happen and things do keep moving.
Even the run on banks can create the banks to fail so look for there to be a major false flag in the U.S. like a hack on the electrical grid or banking system itself to close everything down for a time. I expect one as a great big distraction, in any case. Maybe another lockdown.
You can’t tell me that you haven’t played around with the idea of something big close to home or some unexpected chaos that affects millions of people in this country? Ohio was sure a surprise wake up call. Ohio has a lot of unusable farmland now and sick people. Living in snow country, I feel for those poor people being buried in the snow out west. This is a real life apocalypse to them too. They face actual starvation up there in the mountains.
Whatever you do keep an eye on this banking issue. It will affect every man woman and child on the planet if it gets going. America will be the shot across the bow that this crisis could and will take down the rest of the democratic and parliamentary countries around the world.
Please pray hard for America. If this is the “one” that finally takes down the pillar of freedom around the world, I hope you have your ducks in a row. It will most likely get down and dirty from here on out.
Oh and another thing, check in on Grandma, eh? Be sure she is up and motivated enough to get her ducks fatten and tucked away, too. Thanks.
“When tyranny becomes law, rebellion becomes duty.” Thomas Jefferson