I was having a bit of writer’s block yesterday, actually going so far as to do a 15 minute audio recording last night that I ended up not liking. Fact is, the information seems to be coming so fast now I am just having a delay in processing time as I digest the news. Everyone seems to feel an acceleration, a quickening of events so it’s important to step back and fit the puzzle pieces together. Some call this the “big picture,” and we’ve been hearing some lofty claims of very positive shifts happening…SOON. Turns out I posted an article in haste which has so many gold nuggets buried, it took a day for them to shine through.
At the bottom of this post, Drake has posted a new note regarding theGREENLIGHT he issued which has been discussed since he began giving broadcasts. This was given officially around 8:20 EST Wednesday night, and is posted at his blog American National Militia. Before you read it though, try and keep these key points in mind, as I think they must be telling us something critical.
It’s the economy, silly!
Yesterday I posted an article from Reuters which has been mentioned in many places but didn’t receive quite the attention I thought it should, especially for all those “aware” of the mass arrest scenario. If you haven’t read this article, take 20 minutes and really read it over carefully. It took me 2 or 3 read overs to fully grasp the immensity of what it was suggesting;
The article, entitled “Big banks craft ‘living wills’ in case they fail,” dives right into it immediately:
Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
The plans, known as living wills, are due to regulators no later thanJuly 1 under provisions of the Dodd-Frank financial reform lawdesigned to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages
Did I hear that right? End too-big-to-fail bailouts by the government? They continue…
Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants.
“The resolution process is now going to be part of the cost-benefit analysis on where banks will do business,” said Dan Ryan, leader of the financial services regulatory practice at PricewaterhouseCoopers in New York. “The complexity of the organizations will shrink.“
For those scared of the world bank and the international corporate banking institutions – well – we’ve already had that haven’t we? This is what we want to deconstruct. That’s been the mechanism so far, and here it is in mainstream news that there is some kind of July 1 Deadline, whereby a 4,000 page document is being tendered to shrink the complexity of these organizations. Follow me?
But wait, there’s more…
JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (C.N), Goldman Sachs & Co (GS.N) and Morgan Stanley (MS.N) are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp, according to people familiar with the matter.
The five firms, which declined to discuss their plans for this story, have some of the biggest balance sheets, trading desks and derivatives portfolios of financial institutions in the United States.
This is a stunning statement! The biggest banks on the planet are the first to submit 4,000 page plans for liquidation scenarios but declined to comment on them! Why isn’t CNN, FOX, or MSNBC going crazy over this? I believe Drake said in his broadcast that things will get so immense, “they won’t have a choice.” Alex Jones, Gerald Celente and many others have covered the derivatives mess for years. When it comes to financial tyranny, derivatives are THE WEAPON OF CHOICE for enslavement and takeover – also known as the housing bubble and foreclosure crisis, IMF bank loans et al. Yet in this one article this seems to be addressed:
If the extensive planning and review process works as proponents hope, big banks will become less hazardous to the public and regulators will be more confident that they can let wounded institutions die without wrecking the economy.
In congressional hearings earlier this month, JPMorgan CEO Jamie Dimon said that the bank’s contingency plan for going out of business would let it fail without cost to taxpayers.
Skip to 5:40 for the quote
I’m no fan of JP Morgan and certainly not Jamie Dimon, but this is a stark contrast to what we heard from similar figureheads in 2008…
The tune has changed. The tables, turned.
PLAN FOR TWO WAYS TO DIE
Under the Dodd-Frank Act, banks and regulators must imagine liquidations in two different ways. The first is through bankruptcy courts with banks negotiating with their creditors. This is the going-out-of-business method planned in the living wills due July 1. The living wills must include how subsidiaries inforeign jurisdictions will be liquidated.
These gems keep shining through and help corroborate a lot of what Drake has been saying. More specifically, he has said they will be seizing control of the collateral accounts which are the basis upon which the whole fiat debt system has been propagated. These accounts, which are specifically addressed in the Neil Keenan lawsuit are amounts of historic Gold and other “prosperity funds” that were stolen from we the people, and Reuters makes mention of it right here in black and white!
The second way is through a new kind of liquidation process in which the FDIC takes control of putting a financial giant down. This method has more flexibility than is allowed in bankruptcy courts, but still uses critical information collected in the banks’ living wills, such as where exactly to find collateral.
One of the other key points in “the plan” as I understand it, is that eventually the top of the pyramid would actually step forward and announce who they are, a la Nuremberg trials or as Ben Fulford puts it, a “truth and reconciliation committee” in a semi-televised manner. Again, Reuters reports:
The rules for crafting the living wills are 74 pages long, including an explanatory supplement. The plans could even include drafts of press releases showing how the banks would announce that they are going out of business, Herring said.
Bearing all this in mind, there are so many other key economic bullet points which indicate a very bumpy next few days.
Recently Lord Christopher Monckton reported that the G20 meeting in Rio de Janeiro was focused not on humanitarian efforts, but instead how they will go about clamping down the entire planet. This tiny group of people are struggling to maintain their suppression of a growing and rapidly awakening humanity. Watch Monckton break it down below:
In no less dramatic fashion, Lyndon Larouche released an audio blog on June 26, entitled “Our Enemies Could End Civilization This Weekend.” Give it a listen or continue on below for my comments.
Yes, he was referring to June 28-July 1, 2012.
Larouche has long been a proponent of reinstating Glass-Steagall which is specifically referenced in the aforementioned Reuters article. This rule was the original safety mechanism which prevented the banks from becoming gambling houses, as they have become in recent years. LaRouche writes and speaks of this particular rule as a way to sever the US monetary system from the private foreign central banking system and re-establish a national credit system. Yet again, Reuters reports that these regulations would take ques from this exact rule!
Lyndon has some pretty strong things to say about what might be a crummy weekend, even going so far as to say “stock up on toilet paper” and cites the imminent plans between Geithner and Bernanke to seek additional printing of money to bail out Europe. This would come in the form of a long predicted stimulus program called Quantitative Easing 3 or QE3. His report is detailed here. This program has been LOUDLY anticipated by a whole host of extremely well respected analysts including Peter Schiff, Jim Sinclair, James Turk, Eric Sprott and others. This “stimulus” is the only facility available to provide the funds necessary to prop up the Eurozone. This was always the plan! Destroy Europe, and have Americans pay for it.
Geithner and Bernanke Demand New Mega-Bailout of Europe:
Capitol Hill sources have confirmed that Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke are demanding that Congress prepare emergency legislation for yet another hyperinflationary bailout of the hopelessly bankrupt trans-Atlantic financial system. For the past week, the two men have been meeting secretly with leading Congressional Democrats and Republicans, demanding that they draft new legislation to bailout the banks on an even larger scale than after the 2008 collapse.
What’s Next for the Dollar? QE3?
According to several congressional sources, Geithner and Bernanke have pledged that they will do everything in their power to flood European banks with bailout funds through the Federal Reserve, but they candidly admit that it may be impossible, and that congressional action may be required. If the crisis hits, they warn, there must be legislation already prepared, because the speed and magnitude of the crisis may require extraordinary intervention to “save the system.”Continue Reading…
Last and not least – on April 22, 2012 Forbes reported China would begin purchasing oil from Iran in gold on June 28, 2012 bringing a de facto endto the US Dollar as the world’s reserve currency. In response, world renowned Gold analyst Jim Sinclair stated:
The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold
1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.
2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.
3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.
4. Gold now is not only money free of liability, but also free from interference regarding settlement by the long arm of Western influence.
5. The SWIFT system is becoming ever more a weapon of Western international political will.
6. In case of war anywhere, it is now demonstrated for all to see that only gold will buy the materials required. Paper currencies are under the SWIFT system’s control in settlement.
7. Far from being a barbaric relic, gold is now clearly the money of state survival in every sense.
8. It is reasonable and possible for the supply of physical gold to fall far behind the size of the massive short positions now common to algorithm and hedge fund paper shorts. That will make an effective cover at a reasonable price as compared to a certain day’s close impossible the following day on an exogenous event.
9. It may not be possible to use TA of any nature to determine a price of overvaluation for gold. Should the USA decide to take on China in full out economic war with the physical market totally illiquid, such as through isolation from the SWIFT system, consider the gold price that might result.
Make up your own mind.
All I know is that the anticipation in the air is so thick you could nearly cut it with a butter knife. Whether you are fully conscious or still very much asleep, a momentous point in time is now undeniable for the majority of people. Ultimately 2012 will be about finding your own individual truth amidst peaceably fitting it in with the collective. Then, we can co-create as one…
With that said, a Native American proverb seems apropo;
“It takes 1,000 voices to tell a single story.”