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...Interesting to note is that the Obama regimes “master plan” to steal their citizen’s wealth that is no longer protected was detailed by the global management consulting giant, and the world’s leading advisor on business strategy, The Boston Consulting Group (BCG) who in their 2011 September report titled Collateral Damage: Back to Mesopotamia
The Threat of Debt Restructuring warned of the US governments plan confiscate up to 30% of not just the Americans people bank accounts, but also of their other wealth....
...The facts which state that the only way to resolve the massive debt load is through a global coordinated debt restructuring (which would, among other things, push all global banks into bankruptcy) which, when all is said and done, will have to be funded by the world’s financial asset holders: the middle-and upper-class, which, if BCS is right,
have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path.
Originally posted by cpdaman
Well its either gonna be debt restructuring or a collapse in the currency bc this experiment wont continue forever.
And any restructuring will likely involve screwing middle class HARDCORE.
...LEGALLY, when you deposit money in a bank, it is no longer yours. It is the bank’s under the law. You become a UNSECURED creditor. Say you lent me $100. I give you a piece of paper that says I have the $100 you gave me. It might even say I agree to pay you by a particular date and with interest. But unless I give you collateral, like you lent me money on my home and you hold the mortgage or have a lien, this is purely UNSECURED.
In bankruptcy, the SECURED creditors come first with UNSECURED being last. Therefore, the politicians being lawyers see no problem in a BAIL-IN because they are justifying this in their mind as you are an UNSECURED creditor legally and that means you get the crumbs that are left....
...The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.
The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.
[...]
...When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn't believe it.
The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.
The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.
The memo is authentic.
I had to fly to Geneva to get confirmation and wangle a meeting with the Secretary General of the World Trade Organisation, Pascal Lamy. Lamy, the Generalissimo of Globalisation, told me,
“The WTO was not created as some dark cabal of multinationals secretly cooking plots against the people... We don’t have cigar-smoking, rich, crazy bankers negotiating.”
Then I showed him the memo.
It begins with Larry Summers’ flunky, Timothy Geithner, reminding his boss to call the Bank bigshots to order their lobbyist armies to march:
“As we enter the end-game of the WTO financial services negotiations, I believe it would be a good idea for you to touch base with the CEOs…”
To avoid Summers having to call his office to get the phone numbers (which, under US law, would have to appear on public logs), Geithner listed the private lines of what were then the five most powerful CEOs on the planet. And here they are:
Goldman Sachs: John Corzine (212)902-8281
Merrill Lynch: David Kamanski (212)449-6868
Bank of America: David Coulter (415)622-2255
Citibank: John Reed (212)559-2732
Chase Manhattan: Walter Shipley (212)270-1380...
St Udio
for the record:
Nov 13, 2013 is the date for the test shut-down of the grid... the false flag alert is up for that date---
it is supposed that ATMs & banks, funds et al will get shutdown also... the current false flag perp is a combined cyber attack by Syria/Iran to get mixed in with the DHS grid-shutdown test scheduled for that date
I propose that either the false-flag grid blackout that follows the test will start the series of dollar collapse events or will be the cayalyst that brings about the banker seizures which in-turns causes the USD collapse as the events cascadeedit on 21-9-2013 by St Udio because: (no reason given)
No Taper, QEternity Continues at $85 Billion a Month
Posted on October 30, 2013 by The Doc — 9 Comments ↓
Fed continues monthly asset purchases of $85 billion/month
ZIRP to remain through end 2015
Fed stands ready to INCREASE or decrease QE
Read more at www.maxkeiser.com...