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“Some US embassies worldwide are being advised to purchase massive amounts of local currencies,” writes Harry Schultz, “enough to last them a year.” Schultz publishes the Harry Schultz Letter, an international investment, financial, economic, and geopolitical newsletter named as “Newsletter of the Year” by Peter Brimelow of Market Watch in 2005 and 2008.
Schultz believes the global elite are in the process of engineering an FDR-style “bank holiday” of undetermined length in order to “sort-out the bank mess” and impose new bank rules.
On March 5, 1933, in the depths of the banker engineered “Great Depression,”
Bob Chapman’s influential International Forecaster is reporting on the possibility of
a so-called “bank holiday” planned for late August or early September.
According to Chapman’s sources, U.S. embassies around the world are
selling dollars and stockpiling money from respective countries where
The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis.
Now there's "Financial Regulatory Reform, A New Foundation: Rebuilding Financial Supervision and Regulation" - announced June 17 with Obama saying he'll send Congress a plan to create new government agencies, give the private banking cartel Federal Reserve more power, and address five major problems needing regulatory and legislative measures to fix.
Originally posted by miraclerock
A bank holiday seems really counter intuitive to their plans to me. I know for a fact that if there were a bank holiday the day the banks reopened most of the people I know would close all of their accounts and demand all their money, isn't that what they are trying to prevent? Unless during the holiday they make a bunch of new laws or implemented a new currency I don't see it working, even that would likely cause riots.
Prof Buiter said: "There will, before long (my best guess is between two and five years from now) be a global dumping of US dollar assets, including US government assets. Old habits die hard. The US dollar and US Treasury bills and bonds are still viewed as a safe haven by many. But learning takes place."
The report recommends reform of the international reserve system away from almost exclusive reliance on the dollar and towards a globally backed multi-currency system.
Originally posted by cloakndagger
Maybe this might happen today sense the news broke yesterday. Could there be a run on the banks today? Most people put their money in a bank because it is insured through FDIC. This is just strange.
FDIC considers borrowing cash from banks
90 banks have closed this year. I would not be surprised if the FDIC was out of money. There Could be a run if this gets out to the General Public.
List of banks closed this year.
[edit on 23-9-2009 by cloakndagger]