Bank holiday timeline

[mgray]

Here's may latest blog post (http://wp.me/ppklu-pU) on what I believe will be a bank holiday declared by early June.

And how most of the US population will be caught unaware.

[ThePythonicCow]

Here's may latest blog post (http://wp.me/ppklu-pU) on what I believe will be a bank holiday declared by early June.

And how most of the US population will be caught unaware.

Excellent article, Mgray - thanks.

Hard to know if it will be March or June or September or October ... but (*) likely this year.

(*) ... as I've been saying for 8 years <grin>.

I can't wait to hear your view on what it will be like in the week following the Crash of 2016.

Then there's the bigger question ... what will the next few years hold. Not many of us (certainly not me) predicted 8 years of QE and ZIRP and yet another, higher, S&P 500 top, back in 2008.

I'm expecting a major, world-wide, monetary/economic/financial collapse, followed by a monetary reset that replaces King Dollar with some multi-polar, world wide, monetary system, with some sort of "son of SDR" basket of major national currencies and gold serving as the primary means to recapitalize the system, coordinated by some world agency (under Bankster control) in a low key, but absolutely essential, manner. Here "recapitalize" doesn't mean restore new means of production, but rather restore a new basis for lending, replacing US Treasuries as the "gold standard" underlying the various national currencies of the world. Europe might get hit particularly hard, with the German Mark, French Franc and British Pound in this basket, rather than the Euro, which would be a victim of the Crash of 2016. I also expect some of the same major banks you named to be broken up, no longer "too big to fail", but rather "failing too big to save". I don't expect a global World War III. The Zionist/Rothschild/Rockefeller/Bush/Neocon/... drug running, war mongering bastards seem to be being reined in.

Keep us informed of your work, mgray.

[ThePythonicCow]

... nor would I be expecting another major false flag, in the US at least, a 9/11 on steroids.

Such false flags are used to ignite revolutionary overthrows (such as the burning of the Reichstag) and wars (such as Pearl Harbor and 9/11), not to commence financial collapses.

Most people learn of financial collapses when they can't buy food due to bank closures and/or empty store shelves, just as you described in your article, mgray. The Eurozone needs to be taken down a notch in Europe, but crises such as the immigration from the Middle East seem to be sufficient catalyst for instilling that into the population.

[TargeT]

bank holiday huh...

wGOuzeeSzUg


This one seems like it's jumping to conclusions, interesting though.

FEMA Is Beta Testing a Bank Holiday As the Economy Nears Collapse
The global economy, and in particular, the American economy is in such a state of free-fall, it is difficult to know where to start when describing the overall devastation. Here is a small cross-section of the devastation which will precede some very major political, social and military events which will not doubt accompany the the economic collapse which is well underway.
The Dotcom Bubble

Who will forget “dotcom” bubble in which this investment has lost over half of a trillion dollars since mid 2015? Many have compared it to the housing bubble on 2008-09 in which the bottom fell out of the housing market.

In 2014, Yahoo was one of the top performing stocks. Today, it is down 37%.Plunging Oil Prices

The low oil prices represent a financial risk which is equivalent with the housing bust. Most recently, experts are seeing the signs of another global financial meltdown which is nudging the global economies to a series of quantitative easing in a new round of forcing taxpayers to support bankers from their own mistakes through the private theft of public assets.
Plunging European Bank Stocks Are Devastating the Banks

Key bank stocks in Europe are trading at levels lower than in the depths of both the global financial crisis (2009) and the European sovereign debt crisis (2012).
http://www.thecommonsenseshow.com/siteupload/2016/02/euro-crisis.jpg
Just one week before it wanted to release its financial results, it already issued a profit warning to the markets, and Deutsche Bank’s capitalization has lost in excess of 5B EUR since the profit warning, on top of seeing an additional 18B EUR set of devastating losses since last summer. Deutsche Bank’s trading is now less than 50% of the share price it was trading at in July of 2015. In short, the bottom is falling of the European banks and there is no end in sight to the carnage.
http://www.thecommonsenseshow.com/siteupload/2016/02/deutsche-bank.jpg
More here: http://www.thecommonsenseshow.com/2016/02/09/fema-is-beta-testing-a-bank-holiday-as-the-economy-nears-collapse/


WW3 in march?
5ihU39ANFm4

I could stress out about all this but....
http://cdn.shopify.com/s/files/1/0032/7882/products/mug_on_wood_1024x1024.jpg

[ThePythonicCow]

WW3 in march?
5ihU39ANFm4
The article that is being read to us in the first two minutes of that video comes from here: Riyadh is looking to display willingness and capability to affect the status quo militarily (Neurope.eu) (http://neurope.eu/article/northern-thunder-saudi-arabia-as-a-military-superpower/).

That article is dated February 16, 2016.

The "cease fire" in the region, brokered by Russia, happened since then. I would guess that that cease fire superseded any such "invasion" plans. I would also guess that Saudi Arabia (Riyadh) lacks the military capability to pull off such an operation. Their numbers are inflated, they are already in over their heads in Yemen, and their generals might be smart enough to push back on any such further foolishness to their north.

[ThePythonicCow]

Ah - all the talk about a cashless society, withdrawing 1000 Euro and 100 Dollar notes from circulation, and the like ... one motive that the Barbaric Banking Bastards (BBB) might have to push such talk would be to get the "sheep dogs" (those that by habit watch over the flock) of humanity to get a little extra cash out of the bank, now, just in case.

It is often just those sheep dogs, who if threatened by surprise, can turn most vicious, and in turn cause the flock to stampede (or whatever the sheeple equivalent of "stampede" is.) If on the other hand, these sheep dogs are presented with something they were expecting and prepared for, they remain much more calm. That in turn can make it much easier to keep the (much larger) flock of sheeple under control.

[TODD & NORA]

..........

[Andre]

Interesting blog and comments in this thread, but what about Basil III and the bail-in clauses it contains? Is it not feasible, even likely, that after their successful dry run in Cyprus, bail-ins are on the table? Would not a second version of this blog dramatisation read something like a week of staged spin that begins on a Monday with "Global Financial System in Meltdown" followed by "Bank Account Withdrawals Frozen To Avert Collapse" on the Friday with bail-ins cited as "possible last resort" since "all options are being explored". Then, on the following Monday everyone awakens to the headlines:

PRESIDENT DECLARES GLOBAL FINANCIAL COLLAPSE AVERTED OVER WEEKEND
Over the weekend, the President, in consultation with the Federal Reserve and U.S. Treasury signed an Executive Order that gave the go ahead for the Treasury to instruct all domestic banks to debit 10% of the amount held in all accounts with a balance of over $100,000. The U.S. Treasury, Federal Reserve, World Bank and IMF considered this step as the only viable solution to avert a global catastrophic collapse that would have been far worse than that of 2008. Funds from depositors would be used to contribute to a global emergency fund with Wall Street not exempt from contributing to the fund. A spokesperson for the U.S. Treasury indicated that the debits would commence today (Monday) with a return to normal banking operations on Tuesday. The President will be holding a press conference ....

Of course, the major challenge in implementing bail-ins is that the timing would have to be coordinated on a global scale by all participating Central Banks. If it was only done in one or two countries, depositors in other countries would create a run on their banks.

I'm sure some of Avalon's more financially saavy experts can shed more light on bail-ins as an option than I can. I just know that Cyprus was clearly a successful dry-run by the global Banksters and that the Basil III accords they formulated contain clear bail-in provisions and have been signed by the Central Banks in many countries such as the USA, EU and Australia. And these same Banksters know that they cannot depend on a government handout again particularly in the USA, due to the success of the Occupy Wall Street movement, public anger over the sub-prime crisis, lack of Wall Street prosecutions, the general economic malaise, and widespread awareness of the 1% vs the 99%.

[waves]

I have repeatedly stated that I think that the reason a collapse, holiday, martial law, blah blah will never happen in a country that's a major player in the world economy is because the major corporate ptbs around the planning table of any bank holiday are not interested in weakening buying power so much that they lose their profits. It took a long time to tune their money sucking and slave making system to such a high performance level. How would they benefit from making an event like this happen?

[ThePythonicCow]

Is it not feasible, even likely, that after their successful dry run in Cyprus, bail-ins are on the table?
Bail-ins aren't big enough for this.

That is intentional.

The size of the black hole of debt and derivative counter-party risk at the center of the current monetary/financial/banking system overwhelms the total of all, not just 10%, all, deposits in savings or checking accounts.

Greece, Cyprus, Venezuela, and dozens of other countries have been "dealt with", their various collapses "contained", in order to keep the bigger game going longer. The bigger game is a full-on demolition of the current world monetary system, in order to reset and renew it in some new manifestation, with the US Dollar and its military/intelligence hegemony no long King of the hill.

Cyprus' bail-in was a band-aid, over a small wound, to buy time.

By the time we're through this every dollar, not just those over $100,000 deposited in a bank account, will have lost perhaps 50 or 60% of its spending power in the world market, not just 10%.

To get Americans to accept this, they are going to have to drag us through the mud for a while, with scary headlines, riots, bank closures, bare store shelves, and such.

They will also have to go to a Washington politics that is more national than globalist ... fix our problems at home first. I'm guessing that means Trump will be our next President, and the complaints for the powers that be, such as from the Economist magazine and the Council on Foreign Relations (CFR) (http://www.zerohedge.com/news/2016-02-28/trump-must-be-stopped-plead-economist-and-cfr-financial-establishment-panics), are window dressing, just as the complaints by the big banks against the Federal Reserve Act of 1913, when it was before Congress, were window dressing.

[ThePythonicCow]

How would they benefit from making an event like this happen?
Major corporations have already spent the last few decades disassociating themselves from the US, moving much of their operations elsewhere. We're only customers who buy stuff on debt, and aging workers who expect grand pension plan and medical benefits. Big corporations are globalist, not national.

A top coach of a sports team, with a long running winning record, does not bet the farm on any one player, no matter how great. They are always grooming follow on players.

... and not all corporations, even big ones, want what's coming. Some major Western and New York banks are going to take some serious damage.

[TODD & NORA]

..........

[Bill Ryan]

I can't wait to hear your view on what it will be like in the week following the Crash of 2016.



One answer might be here, in this very detailed article by economist Al Martin. It was originally written in 2004, referencing the Bush regime... but start reading at the top of page 5. It's all there. It reads like a movie script, and may well be accurate.

Protocols For Economic Collapse In America
http://projectavalon.net/Protocols_For_Economic_Collapse_In_America.pdf

[AlaBil]

Here's may latest blog post (http://wp.me/ppklu-pU) on what I believe will be a bank holiday declared by early June.

And how most of the US population will be caught unaware.

mgray… Great post but also nice to find your blog!

[mgray]

A weekend like no other after the collapse is here (http://wp.me/ppklu-q1).

[waves]

How would they benefit from making an event like this happen?
Major corporations have already spent the last few decades disassociating themselves from the US, moving much of their operations elsewhere. We're only customers who buy stuff on debt, and aging workers who expect grand pension plan and medical benefits. Big corporations are globalist, not national.

A top coach of a sports team, with a long running winning record, does not bet the farm on any one player, no matter how great. They are always grooming follow on players.

... and not all corporations, even big ones, want what's coming. Some major Western and New York banks are going to take some serious damage.

Dissociating or expanding? I don't see US big pharma, agriculture or the military industrial complex dissociating, and it won't ever stop needing many US slaves for those in control of the US aspect of it to survive. Can't make all the slaves revolt.

So in terms of who wants and who doesn't, I think we can assume there's some very deep chess playing going on including big factors they hold over each other's heads. Not being stupid, not having any conscience and having the money and bribe power to get anything they want, I bet they're all both defensively and offensively well armed against each other with those heart attack machines etc and god knows what else and they all know it. Also no moron at that level is going to willingly 'take an uncompensated hit', and will have the power to retaliate. And they all know how vicious, backstabbing and untrustworthy each other are at the same table!! All those factors combined might be the only thing holding back big moves.

[ThePythonicCow]

A weekend like no other after the collapse is here (http://wp.me/ppklu-q1).

Well written - thanks!

[mgray]

A weekend like no other after the collapse is here (http://wp.me/ppklu-q1).

Well written - thanks!

Monday (http://wp.me/ppklu-qb) morning is when things heat up in tomorrow's post.

[mgray]

Oh hey Paul, nice save today on the forum attack.

[PathWalker]

Greetings mgray,

I appreciate you financial wisdom and analysis.
I am following your posts and blog, and looking around how the financial war is conducted.

Please explain why we expect banks collapse when they are above the law. And actually are the law, as they are allowed to print money out of nothing. Fixing the books and accountings.

Even if the sheeple understand and expose the fraud, Banksters are untouchable beyond the politician (pissing from the spring board).

The disconnect between real economy and finance economy is beyond ridiculous and repair (money velocity + credit crunch). If that is the case why should the real/physical economy be effected by the financial economy collapse.

Is it possible for the financial economy to leach out more resources than it did/does?
As Paul cleverly stated it is about the ability to collect debt. Do they have the ability/power to collect the virtual debt?

Thanks for your comment and explanations.
Joy and happiness
PathWalker

A Wise old saying: You identify those above the laws as the real rullers.



A weekend like no other after the collapse is here (http://wp.me/ppklu-q1).

[TargeT]

Please explain why we expect banks collapse when they are above the law. And actually are the law, as they are allowed to print money out of nothing. Fixing the books and accountings.

Is it possible for the financial economy to leach out more resources than it did/does?
As Paul cleverly stated it is about the ability to collect debt. Do they have the ability/power to collect the virtual debt?



It will be called a collapse to you and me, but in reality it's a consolidation of power; a move for global finance & global government; the only way that can happen is for the system we currently have to collapse (IMO they are making a mess of it on purpose so poeple will "demand" a global over site... just watch as the case for this is slowly built so it's in our minds when they present the "problem" of the collapse and wait for the reaction they've prepped us for with the particular way the "problem" is presented.. then offer the solution we all know about, the NWO (new government) with the SDR (new money) to back it.

[mgray]

The trigger in the fictitious narrative I posted on my site was the Chinese calling in it chits or threatening to.

However I believe a systemic bank failure will happen because of a break between central banks. When you see the ECB announce its dramatic actions two weeks ago, which has elements that have never have been done. You know it's getting dicey.

Should the Fed have raised rates on this past Wed. you would have seen an event that could have led to a split in central banks that could have played out in the narrative.

At some point central bankers will have to move in different directions to quell the pitchforks, which could lead to cratering of banks due to a withdrawl of financial support on the central bank level.

[Andre]

Very good questions Pathwalker. I hope mgray or others will shed more light on what the globalists are planning.

But I believe the banksters had no choice in 2008 but to seek a Government bail-out due to the sheer enormity of bank debt, the need to re-capitalize their operations and their inability to continue hiding their losses? So it's not so much they need a bank holiday as it is about them having no choice these days because of global debt levels and the lack of borrowers. Fractional lending dictates that they can only create new money through debt so when public consumerism slows and debt hits the roof, their system grinds to a halt because there's no lending, right? And isn't that one of the reasons why they have no choice but to resort to bank holidays?

So aren't' they simply keeping the current financial system alive on a drip feed until they have no choice but to pull the plug by engineering and controlling a new crisis? Obviously, the banksters plan involves surrendering just enough debt (debt relief) as possible because that is the mechanism they rely on to enslave people, right?

As an aside, it is pretty evident that one of the banksters overall strategies is to continue the transfer of public funds to private hands. Puppet Presidents like Bush and Obama pretty much emptied the U.S. Treasury of funds and they continue to transfer trillions from the public purse to the private sector through financial collapses, military spending and so forth. It's all about "money for the boys" but it's also about an overall strategy to weaken Governments' and the public though continued debt. But isn't that the catch22 for them?

[Redstar Kachina]

..........

[Redstar Kachina]

..........

[mgray]

The banks live and die on the whim of central banks. The CBs determine winners and losers.

Right now all banks stay alive because the CBs need them. The minute the they can't sustain the debt, the middle teir banks get subsumed by the larger banks to keep them alive.

In the US the troubled banks will be the Midwestern banks suffering under the energy debt that iare defaulting first. It will then spread to Wall Street bank falling on the credit and derivative side.

Then an implosion type scenario could play out.

Then the cleanest ( central bank) shirt in the room will dictate terms.

[PathWalker]

Obama Announces Unexpected Meeting With Yellen Following Tomorrow's "Expedited Procedures" Fed Meeting
http://www.zerohedge.com/news/2016-04-10/obama-announces-unexpected-meeting-yellen-following-tomorrows-expedited-procedures-f

Hope things are crashing soon. And it is related to the war declared by Kameran Faily here (http://projectavalon.net/forum4/showthread.php?89566-WARNING-To-ALL-Keepers-of-The-Royal-Assets-from-Kameran-Faily-21-March-2016&p=1054961&viewfull=1#post1054961).

One of the more significant, if largely underreported events from last Friday, was the Fed's surprising announcement that it would conduct a closed meeting tomorrow, April 11, at 11:30am "under expedited procedures" during which the Board of Governors will review and determine advance and discount rates charged by the Fed banks.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2016/03/27/fed%20meeting_0.jpg
This is notable because the last time such a meeting took place was on November 21, less then a month before the Fed's historic first rate hike in years.

Moments ago things got even more interesting, when in yet another unexpected announcement, the White House said that both Obama and Joe Biden would meet with Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said late on Sunday. The meeting is expected to take place some time "in the afternoon."

"In the afternoon, the president will meet with Federal Reserve Chair Janet Yellen to discuss the state of the American and global economy, Wall Street reform, and the long-term economic outlook; the vice president will also attend," the statement said.

According to Reuters, the president and the Fed chair meet regularly to discuss economic issues. Still, one can't help but wonder what will be said in these two back to back meetings, both of which will be closed to the public.

In the meantime, we are confident numerous Fed speakers will explain how the Fed may or may not raise rates in the immediate future, unless it of course, does not, all depending on data which the Fed no longer cares about.

[PathWalker]

Bank Bail-Ins Begin as EU Bank “Bailed In” In Austria

http://news.goldseek.com/GoldSeek/1460379117.php
Also reported by the examiner.
http://www.examiner.com/article/bank-bail-ins-are-back-and-they-begin-austria

Is it starting the domino effect now?


Bank bail-ins in the EU are here after Austria’s financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the bank Heta Asset Resolution will receive less than half of their money back according to the country’s financial regulator, the FMA.

http://www.goldcore.com/ie/wp-content/uploads/sites/19/2015/06/euro_drachma.png
Senior bondholders in the so called “bad bank” could expect to receive around €0.46 for each euro which would be paid from the realisation of assets by 2020, according to the FMA statement. It said that this had been calculated using “very conservative” assumptions.

“This package of measures also ensures the equal treatment of creditors. Orderly resolution is more advantageous than insolvency proceedings,” the FMA said.

Bond maturities, however, will be extended to 31 December 2023 as “all currently outstanding legal disputes will realistically only be concluded by the end of 2023”. “Only at that point will it be possible to finally distribute the assets and to liquidate the company,” the regulator said.

In November 2015, the largest collection of creditors, which included Pacific Investment Management Co (PIMCO), Commerzbank , FMS Wertmanagement AoeR and a collection of distressed debt investors, proposed to extend bond maturities for 30 years in return for repayment in full.

Representatives of Austrian province Carinthia and creditors of the failed regional lender are to meet in London tomorrow to try to break the impasse over a bond buyback scheme, an Austrian newspaper reported. Carinthia, a southern Austrian province, guaranteed the debt of local lender Hypo Alpe Adria before the bank collapsed and now faces the threat of insolvency if it had to honour the 10.8 billion euro ($12.3 billion) debt in full.

Heta Asset Resolution was formed to wind down the bank but regulators froze Heta’s debt repayments after discovering a gaping capital hole at the bad bank.

Heta’s bail-ins pertain to bond holders but it is important to note that recently introduced EU and international bail-in regulation mean that depositors in banks are now exposed to having their deposits bailed in.

Bail-ins are one of the greatest financial risks to investors, savers and indeed companies today. Yet they remain the most poorly covered financial risk and are largely ignored by financial advisers, brokers and not surprisingly banks.

There is a belief that bail-ins only relate to “the rich” and very wealthy depositors as they will be imposed on those with deposits greater than national deposit guarantees. These deposit “guarantees” are generally the ‘big round’, arbitrary number of say €100,000, $250,000 and £75,000. These are not particularly large amounts and could amount to the entire life savings of a family or pensioners or indeed it could be the entire capital of a small to medium size business enterprise.

It is important to note that the arbitrary round number in the various deposit guarantees can be, and probably will be, reduced to a lower number – say the new round number of €50,000, £50,000 and $50,000. In the event of bail-ins, governments and banks are likely to seek to impose deeper haircuts on creditors including depositors in order to bail-out and protect the failing banking system.

http://www.goldcore.com/ie/wp-content/uploads/sites/19/2015/06/bail-ins-considerations.png
Bail-Ins – Key Considerations (GoldCore Research)

Media internationally has not analysed this growing financial risk and the risk that it poses to the deposits of savers, investors and companies and indeed to our respective economies. In a world already beset with huge deflationary pressures, bail-ins and confiscating deposits would be extremely deflationary and would likely contribute to severe recessions.

This is something we warned of when we first conducted our extensive research on the developing bail-in regimes. Diversification of deposits remains vital and one important way to protect against bail-ins is owning bullion. Taking delivery of gold and silver coins and bars or owning bullion in allocated and segregated storage in the safest vaults in the world is a prudent way to protect against bail-ins.

[PathWalker]

Following Double-Fed Emergency Meetings, China Devalues Yuan By Most In 3 Months
http://www.zerohedge.com/news/2016-04-13/following-double-fed-emergency-meetings-china-devalues-yuan-most-3-months

People this is very serious/critical news.

.
After weeks of "stability," and following two emergency Fed meetings in 3 days (http://www.zerohedge.com/news/2016-04-13/fed-just-held-emergency-meeting-under-expedited-procedures-discuss-capital-markets) (and an unexpected ease by MAS (http://www.zerohedge.com/news/2016-04-13/singapore-eases-monetary-policy-after-economy-grinds-halt)), The PBOC decided today was the right time to drastically slash the Yuan fix by 300 pips. This is the largest devaluation of the Chinese currency since January 7th (and second largest since August's world-market-turmoiling devaluation). Offshore Yuan had been tumbling all day (shrugging off the supposedly better trade data as FX traders saw through the colossal spike in imports from HK as indicative of capital outflows), and is falling further following PBOC's cut.
read more here (http://www.zerohedge.com/news/2016-04-13/following-double-fed-emergency-meetings-china-devalues-yuan-most-3-months).
Concluded with:


As it appears it is time for the USD to take its punishment (as JPY and EUR has in the last few weeks of divergence between Yuan basket and USDCNY)...
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/04/13/20160413_yuan2_0.jpg
All of this chaos amid the biggest short-squeeze in US stocks in 6 months makes us wonder if something serious is not breaking behind the scenes and every effort is being made to put lipstick on this pig.

[PathWalker]

Deutsche Bank to settle U.S. silver price-fixing litigation
http://www.reuters.com/article/us-deutschebank-settlement-silver-idUSKCN0XA2RU

More important, (according to ZeroHedge here (http://www.zerohedge.com/news/2016-04-14/case-closed-deutsche-bank-confirms-silver-market-manipulation-legal-settlement-agree)) in the settlement Deutsche Bank will whistleblow on the other banks with documents and records.
It looks as the house of cards is going to crash soon. As you know the banking system is built on the premise of mutual trust among the bankers. If they cannot trust they will have no business.


http://s4.reutersmedia.net/resources/r/?m=02&d=20160413&t=2&i=1132590772&w=644&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC3C1N9
Deutsche Bank AG has agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, a court filing on Wednesday showed.

Terms were not disclosed, but the accord will include a monetary payment by the German bank, a letter filed in Manhattan federal court by lawyers for the investors said.

Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation.

A Deutsche Bank spokeswoman declined to comment. Lawyers for the investors did not immediately respond to requests for comment.

Investors accused Deutsche Bank, HSBC and ScotiaBank of abusing their power as three of the world's largest silver bullion banks to dictate the price of silver through a secret, once-a-day meeting known as the Silver Fix.

According to the lawsuit, the defendants distorted prices on the roughly $30 billion of silver and silver financial instruments traded annually, violating U.S. antitrust law.

UBS AG was also named as a defendant. Investors accused the Swiss bank of conspiring to exploit the Silver Fix, though it did not help set the benchmark.

Spokesmen for HSBC and ScotiaBank declined to comment, saying they could not discuss pending litigation. A spokeswoman for UBS did not immediately respond to requests for comment.

The lawsuit is among several in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets.

The case is In re: London Silver Fixing Ltd Antitrust Litigation, U.S. District Court, Southern District of New York, No. 14-md-02573.

[mgray]

Apologize for just seeing this.

That piece of writing was fictional account of what the next collapse could look like.

Banks will be propped up as long as it is possible and then they won't. It will be as simple as that.

I wrote of a scenario where we reached the stage where they are no longer backed by Uncle Sam.

[applepie]

Bank Holiday in the works in 2 to 3 weeks according to Rob Kirby on USA Watchdog
http://usawatchdog.com

[Bill Ryan]

.
An excellent and maybe very useful half-hour interview with Rob Kirby, posted yesterday:

(article here: http://usawatchdog.com/tsunami-of-dollars-coming-back-to-america-soon-rob-kirby/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsaWatchdog+%28Greg+Hunter%E2 %80%99s+USAWatchdog%29)


http://www.youtube.com/watch?v=9FI01zevYxM

YouTube text:




Could there be a dramatic and overnight reduction in the value of the dollar? Kirby contends, “I think this is coming in very short order now. The trail of bread crumbs is indicating this is what is afoot right now.”

Does that mean dollar devaluation and a bank “holiday” coming soon? Kirby says, “How quickly this happens is open for conjecture, but that is clearly the direction we are heading. We are unmistakably headed in that direction. The only real question is how long these criminal central bankers can MacGyver the system together and keep it together with elastic bands, paperclips and bungie cords. This is going down. This is going to happen. I think it’s going down in the next two or three weeks. . . .We’ve all speculated that this would eventually happen. Now we are here, and the clock is about to strike midnight.”

What have the President and the VP been told by the Fed Chairman in these emergency meetings this week? Kirby says, “My guess is they are probably explaining to them just how deep the pooh is that they are about to be thrown into. It’s deep, and it’s going to be over their heads. . . . Historically, when banks have nothing else they can do, they take us to war.”

If they don’t take us to war? Kirby says, “Everything is on the table. . . . My thinking is there are an awful lot of U.S. dollars out there right now that are going to be coming home to America. . . . The adjustment in global reserve accounts could create a tsunami of dollars coming back to America in a very, very short period of time. That could trigger something approaching a hyperinflationary event or, at least, stagflation and super inflationary pressure. That’s the minimum occurring very, very soon.”

About the recent revelation of Deutsche Bank suppressing the price of physical gold and silver? Kirby points out, “The price rigging ultimately comes back to and will be shown that it really is an operation of the U.S. Treasury and the U.S. Federal Reserve. . . . The short interests, or the paper sales of precious metals, have been used on purpose to suppress the growing demand for precious metals, or to make it appear that people are still happy with dollars and don’t prefer precious metals to dollars. . . . Whether the U.S. central bank declares that gold or silver are not money in some hubris filled silliness doesn’t diminish the fact that gold and silver are money, and your U.S. Constitution says gold and silver are money.”

[mgray]

While the list of reasons why are too numerous to layout here in a quick update they are on my bog, I believe the canary in the coal mine for the next cause for financial turmoil will be Deutsche Bank. Keep an eye on its share price.

The ticker symbol in the US is DB.

[PathWalker]

Saudi Arabia Threatens To Liquidate Its Treasury Holdings If Congress Probes Its Role In Sept 11 Attacks
http://www.zerohedge.com/news/2016-04-16/saudi-arabia-threatens-us-it-will-liquidate-its-treasury-holdings-if-congress-passes

If this kind of saber rattling is on the MSM than it is grave serious matter.

Back in January, when the market was watching in shocked silence as oil prices were crashing to decade lows and as concerns emerged that Saudi Arabia may need to commence selling its vast, if unquantified, USD reserves, we wrote a post titled "Attention Finally Turns To Saudi Arabia's "Secret" US Treasury Holdings" where we noted something very surprising: whereas we do know that Saudi Arabia is the owner of the world's third largest USD reserves...
http://www.zerohedge.com/sites/default/files/images/user92183/imageroot/2016/01/SaudiReserves_0.png

In a stunning report by the NYT, Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

In general these are good news. Yet the topic is the disclosure of the classified 28 pages from the 911 investigation.
Since this is reported in the MSM, I hardly believe this is the real story they are trying to hide and protect.
The Saudi involvement in 911 is a narrative they can play to protect the secrecy. But not the real one.

[thepainterdoug]

Mgray/ fascinating and quite chilling and thanks for posting. for quite a while I would agree without hesitation that this scenario you present is the scenario soon to be here. everything is fake, money is fake , we all know it, but its been fake for a very long time. I agree with Paul , I can't seem to understand why they , our handlers (as R Dolan would say) ,would allow this to happen. we the surfs have been groomed , dumbed down and prepared like milk fed veal to perfection. useless eaters producing product and paying up to the 1% . why would they let this ride end. how certain on a percentage basis would you bet your prediction is correct? T Y!

[ThePythonicCow]

everything is fake, money is fake , we all know it, but its been fake for a very long time.
Well, "fake" as in hidden power, not "fake" as in nothing there.

The essence of the power of debt-money is the power to create future obligations, of individuals, corporations and governments, and to be able, by force of law, police, military, bureaucracy, propaganda, blackmail, extortion, bribery, and other such means, to collect on those future obligations, at will, or to be able to default on them, at will.

The Banksters "lend" money into existence. Using nothing but their powers as the money lenders and (hence) power brokers of our civilization, and a deft bit of double entry bookkeeping, they create two, counter-balancing (at least on the books, initially) credits. The borrower is credited with some short term spending units, such as a "cash" deposit in a checking account, and the lender is credited with a lien, mortgage or other security, promising future income (from the repayments) and/or future possession of property or income streams (if and when the loan defaults and its security is foreclosed on or repossessed.)

You and I cannot do that, because we lack the force to collect. If we lend a couple hundred to our ne'er-do-well brother-in-law, and he never pays us back ... it's tough beans ... not much we can do about it.

If the Banksters lend trillions of dollars to the most powerful nation on the planet in all of recorded human history, and that nation can't pay it back, then the Banksters can "foreclose" on that nation, privatizing its major income streams (tax and other revenue sources) and stealing its wealth (land and resources and technology.)

Americans will soon be learning the bitter truth of that power.

Such "lending" is not always in the form of formal loans, mortgages, bonds, or other such debt instruments. Lending (promises of future returns in exchange for present value, where the Banksters control whether or not and to what degree those future promises are met) also includes retirement plans, investments in real estate and stocks, insurance plans, socialism and other such promises of future benefits, etc, etc. We see this wherever present value is exchanged for future value, and someone else more powerful and likely hidden behind a curtain of procedures and institutions, controls the realization of those future values.

The power of the debt-money system over humanity is immense ... the word "fake" risks being a misdirection, as if saying "nothing there ... move along." Debt-money is about as "fake" as a hit from a "CIA heart attack gun" (http://www.military.com/video/guns/pistols/cias-secret-heart-attack-gun/2555371072001) ... on a planetary wide basis, over millennia.

[Ba-ba-Ra]

Mgray/ why would they let this ride end. T Y!


Perhaps it's because: 1) our numbers have become too great, and too many are beginning to evolve consciously so we've become a nuisance . . .and they now have good robotic technology to do the jobs, so we are no longer needed in great numbers for slave labor and canon foder.

Think plantation owner: Why have to feed, house and cloth 200 slaves when you can buy a few robots (or technologically advanced machines) to do the job.

[TargeT]

Mgray/ why would they let this ride end. T Y!


Perhaps it's because: 1) our numbers have become too great, and too many are beginning to evolve consciously so we've become a nuisance . . .and they now have good robotic technology to do the jobs, so we are no longer needed in great numbers for slave labor and canon foder.

Think plantation owner: Why have to feed, house and cloth 200 slaves when you can buy a few robots (or technologically advanced machines) to do the job.

except, we feed and cloth ourselves...

bad analogy, it's more like a parasite on a host, as long as the host is healthy enough to keep feeding the parasite it will prosper, but if the host grows, so does the parasite...

this global kill off idea is ridiculous, they have such great control over 99% of us right now... why WOULD you give up a 7billion strong labor force?

in 10-15 years I'd worry about being replaced by technology... as it is now, if you are a ditch digger or driver (simple labor jobs) you might be replaced, but the majority of "work" will still be done by organics.... for a while.

[Calz]

If "they" only need to support the few that are spared.

If "they" have automated processes that no longer need human workers.'


I don't think a global killoff is ridiculous ... I think it is coming.

[Bill Ryan]

why WOULD you give up a 7billion strong labor force?



Might simply be downsizing. (This is not a flippant answer. More automation, lower overheads.)

[Wind]

They don't need to kill off people. The weather (https://youtu.be/_I_lsZCAWi4?t=1665), famine and people themselves will do it for them. See Agenda 21 (http://www.activistpost.com/2013/11/the-link-between-sunspots-global.html)...

[mgray]

Mgray/ fascinating and quite chilling and thanks for posting. for quite a while I would agree without hesitation that this scenario you present is the scenario soon to be here. everything is fake, money is fake , we all know it, but its been fake for a very long time. I agree with Paul , I can't seem to understand why they , our handlers (as R Dolan would say) ,would allow this to happen. we the surfs have been groomed , dumbed down and prepared like milk fed veal to perfection. useless eaters producing product and paying up to the 1% . why would they let this ride end. how certain on a percentage basis would you bet your prediction is correct? T Y!

I put the possibility at 70%. I don't think this bunch is very creative at the top. They been running the same game plan for eight years. China -- the new comer to the dance -- is the wildcard.

[TargeT]

why WOULD you give up a 7billion strong labor force?



Might simply be downsizing. (This is not a flippant answer. More automation, lower overheads.)

I agree, but I think it's a top end downsizing, not a bottom end... global government means a lot of people in the "top" seats in their countries are going to have to move down a rung or three (or disappear). The NWO has very little todo with the common man; at least at the outset... once in place I can see things getting rather nasty down the line, but not now, not with all the separate power bases.



we the surfs have been groomed , dumbed down and prepared like milk fed veal to perfection. useless eaters producing product and paying up to the 1% . why would they let this ride end. how certain on a percentage basis would you bet your prediction is correct? T Y!

I put the possibility at 70%. I don't think this bunch is very creative at the top. They been running the same game plan for eight years. China -- the new comer to the dance -- is the wildcard.

I don't think the game is to stop anything... this is just a MASSIVE pump 'n dump, conosolidation of power... nothing much will change for us "eaters" but the "top" will be consolidated & power will shift so the 1.5% is again the 1% (too much new money!)

that's my feel... we aren't being culled, just milked harder.

[Calz]

Well the "plan" is for WW3, worldwide economic collapse, pandemic and other assorted goodies to hit about the same time to get us to get on our knees and beg for the "masters" to save us.

That's the script.

Aside from Trump ... anyone else stepping up to the plate???

Military and intel where are you???


Oh that's right ... what am I thinking.


Long ago bought and paid for ... no regard for the useless eaters.


Good luck with that in your soul path.

[TargeT]

Well the "plan" is for WW3, worldwide economic collapse, pandemic and other assorted goodies to hit about the same time to get us to get on our knees and beg for the "masters" to save us.

That's the script.

Yeah, but they have ultra failed on the WW3 between Jews and Islam... they are still trying for sure, but the traction just isn't there... At this point I'm wondering HOW they are going to pull it off in this decade.




Military and intel where are you???

Yeah, I'm right here ;)

Don't agree with the bought and paid for thing..... remember this is a TINY GROUP controlling from the top... Certainly some individuals (probably best/brightest) are paid off, blackmailed or w/e... but there are a LOT of us.

I'm on a 2 week exercise right now with a few 1000 Cyber Warriors.

[Calz]

Yeah, I'm right here ;)

Don't agree with the bought and paid for thing..... remember this is a TINY GROUP controlling from the top... Certainly some individuals (probably best/brightest) are paid off, blackmailed or w/e... but there are a LOT of us.

I'm on a 2 week exercise right now with a few 1000 Cyber Warriors.


Thank you ... offers hope when such is fleeting ...

[PathWalker]

Interesting contemporary interpretation of the precious metal markets from Bill Holter.
2016-apr-23

He assumes the fraudulent precious metals markets will default very soon. Since they do not have the metal to deliver.
I do not agree with the default prediction. They will or already forge/fake/spoof the delivered metal bars with coated tungsten and coated lead.
I believe the collapse is not in the precious metals but in the currency market (make believe value).
k3fdrEZFFJI

[PathWalker]

More obvious collapse indicators from DB
Head Of Deutsche Bank "Integrity Committee" Fired Due To "Overzealousness"
http://www.zerohedge.com/news/2016-04-29/head-deutsche-bank-integrity-committee-fired-due-overzealousness

As the FT reports, Georg Thoma has been fired from Deutsche Bank’s supervisory board two years before his contract ends "after coming under fire from other board members in a battle over how to deal with the German bank’s past scandals."

Thoma, a veteran Shearman and Sterling lawyer, was brought on to the board by chairman Paul Achleitner in 2013 and headed the integrity committee, whose remit includes overseeing the bank’s efforts to comply with legal and regulatory requirements. Alas, he failed as the bank's record surge in litigation charges in recent years has amply demonstrated.

The shocking termination comes comes just three weeks before Deutsche’s annual shareholder meeting on May 19, at which the bank’s supervisory board is likely to come under scrutiny, and even more dirty laundery may be set to emerge, especially since as the FT adds, "one small shareholder has requested a special audit of whether members of Deutsche’s supervisory board or management board breached their obligations in how they dealt with some of the bank’s legal entanglements."


The motion requests that the audit ascertain whether there were management failings in relation to a number of investigations, including the Libor scandal. Among other things, it requests an investigation into whether Deutsche had to pay heavier fines because members of its management or supervisory board obstructed, misled, or failed to co-operate sufficiently with authorities.

Considering the tsunami of legal settlements unveiled by Deutsche Bank in recent months - not to mention its shocking eagerness to put its gold manipulation history quickly in the past - we are confident the motion will be promptly denied.

[PathWalker]

Puerto Rico Default "Virtually Certain" As Bond Prices Crash To Record Low
Is this the first domino? I am not sure. But hopeful.

It's D-Day in Puerto Rico. As Bloomberg (http://www.bloomberg.com/news/articles/2016-04-29/puerto-rico-s-development-bank-reaches-33-million-debt-deal)reports, investors are finding little comfort in the Puerto Rico Government Development Bank’s efforts to strike a last-ditch agreement with creditors to soften the blow of a default this weekend. The bonds that mature today (May 1st) have crashed to just 20c (disastrously below the 36-cent recovery rate the commonwealth proposed in March).


It appears investors are not buying what Puerto Rico is selling and prefer to dump the bonds than hold out in hope of a 'deal'...
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/05/01/20160501_PRBond_0.jpg
A default on the $422 million due today is "virtually certain," S&P Global Ratings said April 11.

No matter which route Puerto Rico takes, credit-rating companies see a default as inevitable. Moody’s Investors Service analysts said last week that any non-payment, even if it’s agreed to by creditors, constitutes a default in their eyes. S&P Global Ratings said a distressed-debt exchange or temporarily withholding interest is synonymous to default.

But as Bloomberg reports, Puerto Rico said its Government Development Bank, which is operating in a state of emergency to preserve its dwindling cash, reached an agreement with some credit unions to delay $33 million of bond payments as the commonwealth rushes toward a potential historic default.

The pact only affects a portion of the $422 million that the bank owes on May 1. The GDB will exchange the $33 million in bonds for new debt that will mature May 1, 2017, Governor Alejandro Garcia Padilla’s administration said in a statement Friday. The terms of the agreement are available to other credit unions, called cooperativas, and investors, according to the statement.

“Apart from this private exchange, GDB continues to negotiate a potential transaction related to an exchange of all of GDB’s bond indebtedness, which would require the participation of all creditors of GDB (including the cooperativas),” the administration said in the statement. “The private exchange does not affect, or take the place of, those ongoing negotiations.”
The bank is still negotiating a possible debt exchange on all of its bonds, which would require the participation of all its creditors, according a the statement. The GDB, which structured the island’s debt sales, has $5.1 billion of debt. The governor’s office said Garcia Padilla will speak to the commonwealth in a televised address Sunday at 5 p.m. New York time.


http://www.zerohedge.com/news/2016-05-01/puerto-rico-default-virtually-certain-bond-prices-crash-record-low

[PathWalker]

More troubles for Deutsche Bank

Italian prosecutor investigates Deutsche Bank over 2011 bond sale
http://www.reuters.com/article/us-deutsche-bank-italy-probe-idUSKCN0XX0J5

An Italian prosecutor is investigating Deutsche Bank (DBKGn.DE) over its sale of 7 billion euros ($8 billion) of Italian government bonds five years ago, an investigative source told Reuters.

A prosecutor in Trani, a town in southern Italy, is investigating because Deutsche Bank allegedly told clients in a research note in early 2011 that Italy's public debt was no cause for concern, and then sold almost 90 percent of its own holding of the country's bonds, the source said on Friday.

Glass Lewis recommends not backing Deutsche Bank co-CEO
http://www.channelnewsasia.com/news/business/glass-lewis-recommends-no/2762670.html

FRANKFURT: Shareholder advisory firm Glass Lewis has recommended that investors at Deutsche Bank's shareholder meeting on May 19 do not vote in favor of the 2015 performance of outgoing co-CEO Juergen Fitschen and some former executive board members.

The non-binding vote is a standard agenda item at annual general meetings in Germany, where shareholders are asked to approve executives' performance the previous year.

[PathWalker]

Latest report from Jim Willie 2016-jun-04

kcMaOH8uXGU

* Personal fear for his life
* USA follow Venezuela
* Supply chain disruption
* Top banksters and corporates CEO should fear for their life
* Gold and silver market controlled by China
* China is not ready to take over the currency war
* Wonder why the current US employment was closer to reality this time
* Proceedings of the currency attack on the USD

[ThePythonicCow]

Latest report from Jim Willie 2016-jun-04
Abhi Barthakur is the person interviewing Jim Willie here. Abhi Barthakur has a Youtube channel under the name Bubba Brother (https://www.youtube.com/channel/UCkUjAd1QiW3pAlx5245Zvpw), and Abhi Barthakur posted this interview of Jim Willie on Before It's News: Jim Willie with Abhi Barthakur – June 4th, 2014 (http://beforeitsnews.com/economics-and-politics/2016/06/jim-willie-with-abhi-barthakur-june-4th-2014-2484967.html).

I fine Abhi's comments in his post on Before It's News to be very insightful. He wrote, in part:

===========


For me, meaning of three things have changed – first, it was water, then it was money and finally its is the word “FEAR”

When I learned the meaning of water or we call “Jal” in sanskrit, brought a profound change in my physical life. I am not going to talk to you about water, today, because its a whole different topic. then when I learned the meaning of money, I found a like minded loud friend Dr. Jim Willie and had a short conversation back in December of 2014. I became his subscriber, exchanged some very unusual email over last two years. Then came the meaning of this big one – F E A R !, Oh man Oh man … this is a big one. I will not be able to cover the whole TOPIC of fear, because ITS a so large, you put together the whole library of congress books bound together, it will NOT be sufficient to explain the meaning of the word FEAR. What I am going to do here is just to sprinkle few bread crumbs here and there, and let you find your own path, like Chris Duane once said – Listen to All, Follow None, Walk your own path the best that you can !

If I want to describe FEAR – , I would say there are two kind, Natural, Un-Natural.

What is a natural fear ? The fear that comes along with the nature. Like a tiger, a snake, a hot stovetop, a hurricane, an electrical outlet, a moving vehicle and death .. just uttering those words to give you the concept. These fear are real, you know know there is a danger of getting hurt or killed if you encounter them.

Then there is Un-Natural fear, I am NOT going to name them here, because if I do, you will probably, turn off the video and walk away. But let me tell you this, my friend – THE Un-natural fear is what controlling the humanity and enslaving it for over 500 years and this UN-Natural fear is the root cause of of having 7 plus billion people on earth.

Someone behind the curtain who controlling the humanity using this un-natural fear and they use these five machine

1. The Fake Money
2. The Fake Government
3. The Fake Law
4. The Fake Science
5. The Fake Religion

Once you learn these 5 machine, and its mechanism, you will walk back 500 years or may EVEN 2000 years, and regain your humanity. Remember, Chanakya Said – The best way to defete fear, is to approach it and destruct it.

But let me make some changes to his words in today’s context –

The BEST way to defeat An Un-Natural FEAR is to approach it carefully, live along with it as if its a venomous snake, and wear it in your neck to keep it under your FULL control.

But, without knowledge, how can you control it ? You can’t. Many people will seek knowledge in many different way. I have my own, and I am NOT going to tell you Nor impose it upon you today. You will have to find on your own, how I found that shortcut.

===========

The key thought above for me:
"Someone behind the curtain" has been controlling humanity for thousands of years with five machines to generate un-natural fear - money, government, law, science, and religion.

That's brilliantly put.

[Redstar Kachina]

..........

[PathWalker]

Someone behind the curtain who controlling the humanity using this un-natural fear and they use these five machine

1. The Fake Money
2. The Fake Government
3. The Fake Law
4. The Fake Science
5. The Fake Religion

Once you learn these 5 machine, and its mechanism, you will walk back 500 years or may EVEN 2000 years, and regain your humanity. Remember, Chanakya Said – The best way to defete fear, is to approach it and destruct it.

Thanks for these insights.
I was able to recognize 3 more abstract mechanism for enslaving humanity:
1. Fake (virtual) scarcity/lack. (food, land, money, water, energy, security, space....)
2. Fierce competition. The scarcity cause people to fight for the resources,
controlling the masses with "divide and conquer" + "problem/reaction/solution/saviour" (aka religion).
3. Exploitation hierarchy. The lower a person in the hierarchy the more exploited. This pseudo hierarchy provide hope for climbing up the ladder. The lie is different in each level.