Jessica -- Operation Phoenix

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Subject: Jessica

Author:
Allen Currie

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Date Posted: 04:33:52 03/31/13 Sun

Jessica

Your bank Infrastructure and legislation point is extremely important, and one that I have not seen anyone raise yet. Another factor that goes right along with that is the attitude of the banks. They are sooo much nearer to divinity than anyone else. Too big to fail, and all that. And yes, banks have managed to enslave everyone from government to individuals with debt. And we keep tightening our own chains by borrowing more and more. What percentage of the people you know have a (even a mostly) paid off house and credit cards that are paid off monthly? What percentage of the people you know are scrambling to make payments as they come due? This last crowd is enslaved.

Nevertheless, banks survive only on the confidence of their depositors. On record, in the US, there are "solvent" banks that have been cleaned out and bankrupted in less than two hours. Therein lies the danger of Cyprus. A global bank run turning into a global currency run. It didn’t help that Spain “taxed” their banks three percent, relying on them to pass this cost on to their customers. If you have ever read the terms and conditions that you sign to open a bank account you know they can take your first born at will. Even in comatose N. America, some people began to think and change their habits. All of this works against the global banking system as it exists today. Personally, on the Monday following “Cyprus” I very anxiously watched the rest of Europe for a massive bank run. There were some withdrawls, but a general panic was avoided. However, confidence in banks took a huge hit around the world. People put their money in banks because it is safe. Suddenly it was apparent that their money was not safe from government. It won’t take many more straws to break this camel’s back.

I disagree with the idea that a global banking system will solve this particular problem. There will always be some “weak dominoes” if only in some crazy dictatorship. Too many “tweeks” by individual country governments. Too many countries where graft is massively present. There is effectively no rule of law in these countries. I can’t see that changing. In fact, we currently have a fairly efficient global banking system under the US generated “SWIFT” system. But the US recently threw a straw on the camels back by cutting Iran off from that system as part of its power play to bring Iran to its knees. That woke governments around the world. Enough so that the BRIICs and eastern block countries are a long way to setting up their own clearing system which shuts out the US. The US was so astonished that they were not invited, and later refused admission, to these meetings. Too bad that they did not consider the consequences of their own actions.

In support of the above, I offer your statement “Until then, my sock drawer works well”

Allen

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