Conspiracy theorist

Banks plan to steal your money

 by Mark Luedtke

 

There’s an old saying, “Give a man a gun, and he can rob a bank. Give a man a bank, and he can rob the world.” This saying only tells half the story. The banker can only rob the world because he is backed by government’s power of coercion.

Last winter, Cypriot banks suffered a capital crisis that, like a canary in a coal mine, signaled an impending crisis in the entire Western banking system. PressEurop remembered: “On March 15, the President of Cyprus and the Eurogroup announced that they would levy a tax on all bank deposits setting off a crisis that closed down banks for two weeks. This was followed by the imposition of regulations on capital movements, as well as on the Cypriot economy and society.” Capital controls restrict the withdrawal of money from banks or countries. Government thugs literally searched luggage of people leaving Cyprus for cash. Cyprus’s rulers, including the head of the European Union (EU), promised the capital controls would be temporary, but they were quickly made permanent. Cyprus continues going downhill today.

The reason Cypriot banks got away with this was the EU declared this naked theft legal. The policy of stealing money from deposits to save banks became know as a “bail-in.” Cyprus was the test case, and, although angry, people didn’t revolt. Bail-ins are now unofficial policy for all Western banking systems. Japan made bail-ins official policy.

Last week in the U.S., while Americans were yawning at the phony government shutdown the press pretended was some sort of disaster, the real impending disaster in the banking system took another step forward. Infowars reported that Chase Bank sent a letter to customers, implementing capital controls in the U.S.: “Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers from Nov. 17 onwards, prompting speculation that the bank is preparing for a looming financial crisis in the United States by imposing capital controls.”

Infowars continued: “We are now receiving reports from business partners who we know well that they are being told by their banks that similar regulations to those adopted by Chase are coming within the next few months.”

This is especially significant since JPMorganChase is one of the “too big to fail” banks, for all practical purposes a wholly owned subsidiary of the U.S. government, but Hong Kong and Shanghai Banking Corporation (HSBC) USA also put controls on money leaving the U.S. If you’ve been waiting to take your money out of U.S. banks, economist Robert Wenzel advised now is the time: “The prevention or delaying of certain customers from sending international wires, and JPMorganChase stopping some accounts from withdrawing large amounts of cash, is a serious signal that we are well along the way to a banking sector that doesn’t respect its customers and has no compunctions about preventing customers from pulling out their money, if the banks deem it in their interest to prevent such withdrawals. Bottom line: You are playing with fire if you keep any serious amount of money in a U.S. bank.”

You probably heard that Dodd-Frank was supposed to fix the problem of the too big to fail banks. That’s a lie. The Economic Collapse Blog reported Dodd-Frank made those banks bigger and more reckless: “The six largest banks in the United States have gotten 37 percent larger over the past five years. Meanwhile, 1,400 smaller banks have disappeared from the banking industry during that time. What this means is that the health of JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley is more critical to the U.S. economy than ever before. If they were ‘too big to fail’ back in 2008, then now they must be ‘too colossal to collapse.’”

The fundamental problem is every bank in the U.S. is technically bankrupt. Before government created the Federal Reserve (Fed) a century ago, if a bank held too few reserves to meet its obligations, and people found out, depositors would race to take their money out of the bank in a bank run. Because banks are interconnected, bank runs could spread from bank to bank. If this happened, a giant, sound bank would step in and buy the troubled banks, shore up their reserves and end the bank run. The market punished the fraudulent bankers and minimized damage.

But government’s Fed cartelized all U.S. banks into one – government-controlled system – and it sets reserve rates for all banks. That means all banks hold only a fraction – typically around 10 percent – of the reserves necessary to cover their obligations. This system is called fractional reserve banking, and it’s inherently fraudulent and unsound. When a bank run starts now, there are no sound banks to stop it. It will infect the entire banking system. The same is true in Europe, Japan and many other countries around the world.

The coming collapse is a century in the making. It’s inevitable, it will be global and it’s imminent. Now is the time to protect your assets.

 

The views and opinions expressed in Conspiracy Theorist are the views and/or opinions of the author and do not reflect the views and/or opinions of the Dayton City Paper or Dayton City Media and are published strictly for entertainment purposes only.

 Mark Luedtke is an electrical engineer with a degree from the University of Cincinnati and currently works for a Dayton attorney. He can be reached at MarkLuedtke@DaytonCityPaper.com.

 

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