Safeguard your savings. This is not a joke...

[lazarus]

Storm warning.

Sorry I have not been around for a while, but events of the past month have convinced me it is time to leave canada for good, to that end I have liquidated my holdings and am gone by friday. Won't be back to this country ever. Flight sim projects will be on hold for a while the evacuation takes place

In the wake of the Cypriot bank grab(10 billion euro's!), G20 finance ministers and bankers have codified into fiscal policy provisions to seize your accounts to prop up banks that loose the farm and get cleaned out on bad paper. Its called a 'Bail in'



from the 2013 economic action plan,page 144 and 145.

Establishing a Risk Management Framework for Domestic Systemically Important Banks

"Economic Action Plan 2013 will implement a comprehensive risk management framework for Canada’s systemically important banks.

Canada’s large banks are a source of strength for the Canadian economy. Our large banks have become increasingly successful in international
markets, creating jobs at home.

The Government also recognizes the need to manage the risks associated with systemically important banks—those banks whose distress or failure could cause a disruption to the financial system and, in turn, negative impacts on the economy. This requires strong prudential oversight and a robust set of options for resolving these institutions without the use of taxpayer funds, in the unlikely event that one becomes non-viable.

The Government intends to implement a comprehensive risk management framework for Canada’s systemically important banks. This framework will be consistent with reforms in other countries and key international standards, such as the Financial Stability Board’s Key Attributes of Effective Resolution Regimes for Financial Institutions, and will work alongside the existing Canadian regulatory capital regime. The risk management framework will include the following elements:
Systemically important banks will face a higher capital requirement, as determined by the Superintendent of Financial Institutions.
The Government proposes to implement a ?bail-in? regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult
stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.
Systemically important banks will continue to be subject to existing risk management requirements, including enhanced supervision and recovery and resolution plans.

This risk management framework will limit the unfair advantage that could be gained by Canada’s systemically important banks through the mistaken belief by investors and other market participants that these institutions are ? too big to fail."

If you have anything in a bank, get it out now.
Make your preparations, a storms a 'comin
Good luck to us all, may whatever gods you pray to protect and preserve us. God Speed

[Skyhawk_310R]

Well, it's your money and your choice where to live. Frankly, I find the comments a bit alarmist. I know that the Cypriotic bank deal did dig into some accounts within that banking structure. But, what you described is simply a pooling of bank resources to provide a mutual support network. Ultimately, in the old days, prior to the concept of government insurance, if a bank was robbed, your money was gone!

Ultimately, if the resources of a state are exhausted, as happened in Cyprus, then the guarantee of a government insurance proves futile and your money is well and truly gone.

If you put your money in a sock or under your bed, or even in a fireproof safe, and there's a fire in your home then your money could be lost. Nothing in life is ever truly guaranteed. There are simply actions taken by people to provide increased levels of security in the interest of society. Even fireproof safes are not entirely guaranteed to protect paper instruments. There are some fires hot enough to damage or destroy the contents inside them.

Ken

[Allen]

94324

Also WTF happen to you Canada? You can't see WTH happen to the US of A an know it is not a good idea to what we did?

[Tako_Kichi]

After 10+ years on a disability pension that keeps me below the so-called 'poverty line' any savings I had are long gone.

The only thing in my bank account now is cobwebs.

[Willy]

After 10+ years on a disability pension that keeps me below the so-called 'poverty line' any savings I had are long gone.

The only thing in my bank account now is cobwebs.

I'm in the same boat.

[gman5250]

There is a time when it is appropriate to share certain information with our fellows in the sim community.

Lazarus' comment is absolutely correct, and if anything quite conservative. I don't keep anything in a bank that I cannot afford to lose and for good reason.

My contract with this forum is to refrain from commenting in areas not related to sim aviation, and I honor my contracts. However, I also have a great respect for my friends here. Anyone who would like to PM me, serious questions only please, I will be happy to share my perspective and background research in this area.

I commend Lazarus for having the courage and respect for this community to post this comment.

[Flyboy208]

I will leave this thread open for now, albeit not aviation related, as long as it remains civil and informative ..... Mike

[lazarus]

I try to avoid non aviation items, and I am sorry if anyone feels offended, but on reading this document, and the utter silence from media, I feel it to be a moral obligation to get the word out to those I care about.Family, close friends, and you lot. The document in question has many terrible ramifications for you and I. Forwarned is forearmed, as my old Mum used to say. File it under 'strategic intelligence', as its not likely to happen tomorrow, but the die is cast, and we have all seen how quickly the wheels can come off the cart (2008,wall street).
'Nuff said, and again, Sorry, but this is an exceptionally dangerous bit of policy, and its world wide. At least the profitable parts.
I hope I'm just being alarmist/paranoid, though I fear I am not.
Good luck,'appy turkey day, I'll check in in a few months when I'm settled out west. Beyond the sunset, and the baths of all the western stars.

[Naismith]

Where you gonna go Lazarus? I refer you to my vid link to George Carlin under the Math post http://youtu.be/WGL8FEMc378 We are all screwed apart from a very few bankers & industrialists. Everywhere is in the same boat in the Western world and who'd voluntarily go live in the Eastern world. Everyone seems to forget that they are Communists and one day will turn around and bite us in the ass.
http://youtu.be/TGv2wqJJmbc
In actual fact following the recent Recession/Depression, call it what you will (are we out of it yet?) Canada actually did relatively well in comparison. We didn't suffer like the USA or UK, Japan or Germany. In fact our BOC governor handled things so well the Bank of England headhunted him.

Edit - Not to be taken too literally folks.

[b52bob]

Now seems a good time for us to invade

[arfyhun]

I totally agree with Lazarus. Here in 'Great' Britain we have no interest payable on our savings, (not that I have any), so why leave it for the *ankers to grab it when it suits because their greed has caused it.

Go on YouTube and watch the 'Max Keiser' reports and Abby Martin's 'Break The Set' to smell the roses.

It's real and can happen. I'm sure GCHQ, PRISM or the NSA will have read this before you do.....

Graham.

[kilo delta]

Won't affect me anyhow as I've apparently won the multi million euro Spanish lottery AND am helping out a heretofore distant relative military chief in Nigeria to move millions of dollars out of his country, for which I am promised a 20% stake.


I'm minted, me!

[Naismith]

I totally agree with Lazarus. Here in 'Great' Britain we have no interest payable on our savings, (not that I have any), so why leave it for the *ankers to grab it when it suits because their greed has caused it.

Go on YouTube and watch the 'Max Keiser' reports and Abby Martin's 'Break The Set' to smell the roses.

It's real and can happen. I'm sure GCHQ, PRISM or the NSA will have read this before you do.....

Graham.

Oh dear, "Max Keiser with George Galloway", anything with Galloway immediately acts as a repellant to any normal person. Bunch of hysterical, conspiracy theory rhetoric there from Max Keiser and should be avoided.

[gman5250]

IMHO and meant in a spirit of mutual respect for all here.

Perhaps it is inappropriate for one person to invalidate another persons POV by labeling it "conspiracy theory". In the area of quantum economics can any one person render an absolute dismissal of another persons interpretation of data that is abundantly available in the public domain?

Note: The data not openly released (but still available) in the public is even more alarming than the redundant talking points offered in the mainstream media.

Conspiracy Theory Defined
Conspire: to breath the same air
Theory according to Webster: the analysis of a set of facts in their relation to one another


Analysis and Analysts:
Max Kaiser is one analyst among many analysts. Keiser is the creator, co-founder, and former CEO of HSX Holdings/Hollywood Stock Exchange. His data is information offered for consideration along with all other data available.
Gerald Celente, Peter David Schiff and Dr. Paul Craig Roberts are also data sources that might be considered by a serious researcher.
Roberts served as an Assistant Secretary of the Treasury in the Reagan Administration and is a former associate editor of the Wall Street Journal.
Celente is a trends researcher whose data can be validated over the long term by his track record.
Schiff is, among his Bone Fides, chief global strategist of Euro Pacific Capital Inc. Schiff was also an economic adviser to Ron Paul's 2008 presidential campaign.


Straight from the FED
The Federal Reserve Website is a wealth of information for those who prefer to garner their data direct from source.
Note: the FED is neither federal nor reserve. They are a privately held, offshore, for profit financial institution with a board of directors and stockholders to whom they have an obligation to render a profit. The unique attribute that the Fed "reserves" is the monopoly on printing unlimited, digital "Quantitative Easing" currency with nothing to back it except the energy of the American taxpayer. What about the gold? Bernanke told us that gold is not money but try to convince the German government that their 144 Billion (Euro) in gold still sitting in the New York Fed vault isn't money.

The question surrounding Quantitative Easing of course, is how long can this strategy continue before collapsing under it's own weight? Janet Yellen thinks it can go on for quite some time yet and why not? Just prior to the government "shutdown" the State Department cemented a 5 Million dollar deal (http://www.vnews.com/news/8803589-95/simon-pearce-gets-5-million-contract) for hand blown crystal ware for their various embassies.

The FED will tell you openly that they are creating $85 billion per month out of thin air. They will not tell you exactly who they are giving that money to, but it’s not that difficult to answer that question for yourself with a bit of rational analysis. Note that the moment those "assets" are posted into any institutions books, that institution is legally allowed to lend back out ten times that amount. That's $850 Billion per month potentially being injected into the failing loan markets. These same institutions show these inflated numbers as real assets on their books.

According to the FED website: 40B are going to shore up the failing bond markets and the other 45B are being used to buy up "mortgage backed securities". This debt is placed upon the shoulders of the American taxpayer. The bond market bubble is on the verge of implosion and the offshore owners of our debt are nervous. It’s only a matter of time before one runs for the door. It could be China, but there are many potential triggers currently on the immediate horizon. Once one runs for they door….the rest will follow. The move away from the dollar is already in full swing on the international markets.

This is significant. The fed is using your money to buy up your mortgage that has been bundled and resold numerous times. Each time this was done those assets were inflated by 1000 percent into the purchasing institutions books under fractional reserve banking law. Put quite simply, the private FED is buying your house out from under you with FIAT currency your great grandchildren will be obligated to pay back.

Landmark Ruling
In the US it has been ruled (http://dl.dropboxusercontent.com/u/32961642/SentinelRuling.pdf)by the U.S. Court of Appeals, Seventh Circuit that banks holding your assets, which could be your retirement fund, bundled mortgage or even cash deposits are in the front of the line to recover losses in the event of any default on the assets they hold, even if they acquired those assets illegally. In the quoted case Bank of New York Mellon was put ahead of customer segregated accounts held by Sentinel Management Group after Sentinel had illegally used private customer funds as collateral on overnight loans.

FYI: Under contract law your blue ink signature is required on any transfer of your original contract upon sale or transfer. Without your wet ink to energize the doc it is thereby rendered un-executable. If your mortgage contract was sold without your wet signature you may have recourse in court...of course that works in theory but has not been and will most probably never be ruled upon by any court of standing. Good luck on that one.

The latest bit of news I will share with you here. Straight from JPMorgan Chase…no conspiracy.
Capital controls are currently being implemented by the capstone bank at the top of the commercial banking pyramid. The rest will without doubt follow suit. Capital controls can be implemented to prevent assets from leaving a country that anticipates a financial crisis.
Do a bit of historical research and find which countries have implemented this strategy...and why.

Note that JPMorgan Chase also is the principal manager of EBT cards that one third of Americans now depend on for food. This is outsourced to India...labor is cheaper there. Concurrently, a memo went out last week from the USDA telling states to anticipate withholding "until further notice" benefits for EBT recipients. That means no food for millions while Chase locks down the money.

Those hungry millions should all have jobs? Tell that to the City of Detroit who, by the way, are preparing to "bail in" the unemployed, soon to be starving former auto workers' pension funds to help keep the city afloat after the original TARP money was used to ship GM to China and Brazil.


All of the above is purely my personal observation, but the overwhelming data in this area indicates that extreme prudence would be a wise course of action.



94428
94413

[Curtis P40]

Wow, ********. A lot of what you just said, my son was trying to explain to me about a year ago. Really does make one wonder...

[gman5250]

Wow, ********. A lot of what you just said, my son was trying to explain to me about a year ago. Really does make one wonder...

Sounds like you should have your son over for dinner one night soon.