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Biggest Scam in History of Mankind: Debt Ceiling Fraud!

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posted on Oct, 22 2013 @ 10:51 PM
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Usury is the real problem, not debt! Ponzi scheme. That is, it's bad enough there's interest on the debt, but because of usury there is debt on ever dollar in existence: our wallets and our savings. On the flipside, when the fed stops printing its fiat currency, it will collapse, too - tis the way it's set up, the scheme.



Unchecked, our government is on the verge of dipping into our own savings. What about FDIC Insurance? Got 100,000 or even 250,000 FDIC-insured liquid funds in one institution, you're safe. NOT! FDIC Insurance is also a scam, as how would the bank remit the insured amount, that was lost or stolen, when the bank has collapsed and/or the government has shutdown? In any can, FDIC only reserves two tenths of a penny on the dollar in actual insurance, not that you would be able to get that $500 insurance payout on $250,000 in the bank, anyways.

Government aside, people nationwide will sooner than later loose their life savings or multi-generational savings when banks, government, or currency collapse, to a Cypriot model, or have it not worth anything.


edit on 22-10-2013 by gardener because: (no reason given)



posted on Oct, 22 2013 @ 11:06 PM
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This vids been posted as a topic in another thread. Dunno how to link it.

Good vid tho.



posted on Oct, 23 2013 @ 01:04 AM
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This is an extremely well done video. It explains the complexities of our modern day debt based money system in relatively simple terms, but also doesn't skip over the little complicated parts of the process. Thanks for the share OP.

EDIT: not to hijack this thread, but for those who wish to read further into this issue I made a thread called True Money a while ago which covers pretty much all of the issues discussed in this video. This video explains some things better than I did in that thread but I also think a did a better job of explaining some things than this video does, so putting the two together really paints a much clearer picture of the scam.
edit on 23/10/2013 by ChaoticOrder because: (no reason given)



posted on Oct, 23 2013 @ 12:55 PM
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reply to post by gardener
 





Unchecked, our government is on the verge of dipping into our own savings. What about FDIC Insurance? Got 100,000 or even 250,000 FDIC-insured liquid funds in one institution, you're safe. NOT! .....


That brings up the CYPRUS HAIRCUT. The EU decided that the depositors in Cyprus banks would have their deposits taken and used as part of the bailout. Not the whole deposit, just a ‘haircut’.

They even structured it such that major depositors, over 100,000 Euros, got hit the worst (at a near 10% rate). Yet that is only about 3% above what the poorest person with just enough to cover next months rent check got clipped.

Cyprus does a lot of business as a money center (some in the EU would say money laundry). Attempting to get some of that money and / or punish the folks of Cyprus for being a laundry will result in a lot less business for companies that set up foreign accounts:

Some Links:
www.erteamcorp-services.com...

article.wn.com...#/related_news

www.dw.de...


Cyprus could become the fourth eurozone country to be asking for a bailout. Its Popular Bank needs a huge sum for recapitalization by the end of June, and Nicosia hasn’t said where it will come from.

The Cyprus Popular Bank as the second biggest lender on the island needs another 1.8 billion euros ($2.23 billion) until July to meet new recapitalization requirements... Cyprus banks have been crushed by a writedown on Greek sovereign bonds negotiated in an attempt to make Greece’s debt mountain more sustainable. Bank of Cyprus and Popular recorded record losses in 2011, depleting their regulatory capital.



So long story short. You have regulations, Greek government bonds going sour and you have a 'Bailout' This time it is not tax payers who got clipped but the bank depositors. So what does that have to do with the USA???

Remember how the FED refused to be audited when ROn Paul was raising cain right after the US bank Bailouts??? Guess where US tax payer money went? TO EUROPE! (I am not going to dig out the links but it came out within the last year)



It seems New Zealand is going to follow the Cyprus lead in targeting depositors.

Tuesday, 19 March, 2013 – 11:27

The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out…. www.voxy.co.nz...


Another interesting comment (about NZ) was the depositors in banks are unsecured creditors and are actually the last in line so “… the money in your account will become the property of the secured creditors…” Isn’t that nice to know when your paycheck or government checks are never handed to you in cash but always deposited in a bank.

Dutch bank also changes withdrawal conditions of savings accounts the underlined line says: "It’s no longer possible to withdraw money instantly"
www.geenstijl.nl...

And Canada joins the crowd: Canada Includes Depositor Haircut Bail-In Provision For Systemically Important Banks in 2013 Budget!



posted on Oct, 23 2013 @ 01:09 PM
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reply to post by gardener
 


News like this is not going to inspire confidence in the formal economy and as this graph from Edgar Feige, a widely cited Professor Emeritus of Economics at University of Wisconsin-Madison shows the underground economy is alive and well and growing. (from this article )

These quotes from the Edgar Feige paper are interesting given the subject under discussion.

...One of the most reliable economic statistics is the amount of U.S. currency in circulation held outside of depository intuitions by the public. By the end of 2010, U.S. currency in circulation with the public had risen to $920 billion dollars, amounting to $2950 for every man, woman and child in the country. Over the past decades we have witnessed a host of cash-saving financial innovations, leading to widespread predictions of the advent of a “cashless society”. But contrary to these expectations, the demand for U.S. dollars continues to rise and we remain awash in cash. Over the last twenty years, real per capita currency holdings increased by 79 percent and currency as a fraction of the M1 money supply rose from 30 percent to 49 percent.

To put these figures in perspective, they imply that the average American’s bulging wallet holds 91 pieces of U.S. paper currency, consisting of: 31 one dollar bills; 7 fives; 5 tens; 21 twenties; 4 fifties and 23 one hundred dollar bills. Few of us will recognize ourselves as “average” citizens. Clearly, these amounts of currency are not normally necessary for those of us simply wishing to make payments when neither credit/debit cards nor checks are accepted or convenient to use.

Federal Reserve surveys (Avery et al. 1986, 1987) of household currency usage found that U.S. residents admitted to holding less than 10 percent of the nation’s currency supply. Businesses (Anderson, 1977; Sumner, 1990) admitted to holding 5 percent. It seems that the whereabouts of roughly 85 percent of the nation’s currency supply is unknown. This anomalous finding suggests that the “currency enigma” (Feige 1989, 1994) and the problem of “missing currency” (Sprenkel, 1993) is still very much with us.

The currency enigma has both a stock and a flow dimension. First we must determine who holds the outstanding stock of U.S. cash. Specifically, how much of this currency is abroad, (the dollarization hypothesis) and how much is held domestically (the underground economy hypothesis) by citizens reluctant to admit to their true cash holdings? The flow issue concerns the amount of cash payments sustained by that missing currency. If half of the missing currency is hoarded and the other half is used as a medium of exchange, turning over at an average velocity of between 30 and 50 transactions per year, (Feige, 1989a) the missing circulating currency stock would give rise to a flow of “missing payments” of an order of magnitude comparable to the entire GNP of the United States....


Either the USA has a heck of a drug problem or my fellow citizens are less trustful of the US government than I thought.



posted on Oct, 23 2013 @ 02:37 PM
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When the average man starts to find out about the con, then usually that is when the game changes.



posted on Dec, 12 2013 @ 08:12 AM
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They have a new video up:




posted on Aug, 13 2015 @ 08:09 AM
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originally posted by: Horus12
When the average man starts to find out about the con, then usually that is when the game changes.


But haven't we (the average man) been speaking about this for years now?

We will continue being slaves for fake money until something better comes.....Still waiting



posted on Aug, 13 2015 @ 08:37 AM
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The truths,when push comes to shove their is very little you can do about stopping the government/banks stealing your money.

I heard of recent talks of banks charging you to withdraw your own money, that's seriously being considered.

Many people say invest your money in property in houses and land. While this is far safer than putting your savings in a bank, if push comes to shove the government can take it at will.

People also say to invest in gold or silver. Fine. But in a situation where banks close or stop withdrawl of money, gold again becomes pointless, food or gas is what people want.

So, sorry for being depressing.



posted on Aug, 13 2015 @ 08:38 AM
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a reply to: Nexttimemaybe


People also say to invest in gold or silver. Fine. But in a situation where banks close or stop withdrawl of money, gold again becomes pointless, food or gas is what people want.


Or be skilled in a useful craft....That would go a loooooong way for resources!



posted on Aug, 13 2015 @ 09:01 AM
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originally posted by: Chrisfishenstein
a reply to: Nexttimemaybe


People also say to invest in gold or silver. Fine. But in a situation where banks close or stop withdrawl of money, gold again becomes pointless, food or gas is what people want.


Or be skilled in a useful craft....That would go a loooooong way for resources!


Absolutely. You yourself will be worth "money".



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