The Coming Societal Crush From Disintegration In The Global Financial System

The Death Of The Dollar And The Entire U.S. Financial System

the-coming-societal-crush-from-disintegration-in-the-global-financial-system

The coming banking collapses, and the coming failure and disintegration in the global financial system (monetary, credit, and financial asset meltdown), is going to be fast and chaotic — and will crush society and the way of life as we know it.

What will be the mechanism of the societal crush?

An intertwined systemic banking crisis coupled with a ‘just-in-time’ supply chain contagion.

The likelihood of a food security crisis within days in the directly affected countries and an exponential spread of production failures across the world beginning within a week.

This will reinforce and spread financial system contagion.

The longer the crisis goes on, the greater the likelihood of its irreversibility. This could be in as little as three weeks.

-David Korowicz, “Trade-Off: Financial System Supply-Chain Cross-Contagion”

 “Conquering the Coming Collapse” – Real, Proven Survival Strategies When Money Turns Into Dust

The systemic risk:
In the globalized economy, the growing complexity of interconnectedness, interdependence and the speed of processes (‘JIT’ just-in-time), coupled with the de-localisation of production have magnified global vulnerability and opened up the possibility of a rapid and large-scale collapse.

When you think about it, it makes sense. It’s logical. It’s complicated, but then again it’s not…

In a complex and interdependent economy, fewer failures are required to spread cascading failure through socio-economic systems. The risk of cascading failure occurring has increased significantly and will result in a sort of ‘domino effect’ of failures that unfortunately most people have problems seeing or planning for.

The likely cause of such an event would be a large-scale financial shock.
The scenario:

Failing banks, fears of currency re-issue, fears of further default, collapse in Letters of Credit, and growing panic directly quickly shut down trade in the most affected countries.

As the week progresses factories close, communications are impaired, social stress and government panic increases. After a week almost all businesses are closed, there is a rising risk to critical infrastructure.

Almost immediately internal trade and imports stops in the most affected countries, and there is impairment in a growing number of other countries. Trade is impaired globally via a credit crunch.

This undermines exports from some of the most trade-central countries, with some of the most efficient JIT dependencies in the world. This cuts inputs into the production and trade into countries that were initially weakly affected by direct financial contagion.

Globally, the spread of trade contagion depends on complexity, centrality, and inventory times and once a critical threshold is passed spreads exponentially until the effect is damped by a large-scale global production collapse.

Once the financial system contagion crosses a particular threshold the destabilization of the globalized economy will be exceedingly difficult to arrest; this point may be in as little as ten days.

Once a major system collapse occurs, scale, hysteresis, entropy, loss of critical functions, recursion failure, and resource diversion is likely to ensure that the features associated with the previous dynamic state of the globalized economy can never be recovered.


CONCLUSION:
We are living in an unprecedented time of growing risks within a complex inter-dependency of major global systems for our very survival. We need to transition out of, and prepare for, a system which is seemingly teetering towards collapse and failure. Should the dominoes start falling, it will already be too late to significantly prepare. I do not know when this will happen, but I believe that it will happen. It will be life-altering and devastating (and deadly) for many. While even the prepared will be affected, those who stick their head in the sand will be affected much worse.

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How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System

source: modernsurvivalblog.com

www.patriotnetdaily.com

Other useful resources:


Pioneer Survival - Lessons We Should All Learn
Alive After The Fall (Advice onto handling crisis situations )
US Water Revolution (Have Plenty of Water when others don't have any!)
Blackout USA (EMP survival and preparedness guide)
Conquering the coming collapse (Financial advice and preparedness )
Backyard Innovator (All Year Round Source Of Fresh Meat,Vegetables And Clean Drinking Water)
Liberty Generator (Easy PND to build your own off-grid free energy device)
Backyard Liberty (Easy and cheap PND Aquaponic system to grow your organic and living food bank)
Bullet Proof Home (A Prepper’s Guide in Safeguarding a Home )

Video: “This Is Our Worst Nightmare If It Happens And Has The Potential To Lead To Hyperinflation ”

Hyperinflation- This Is Our Worst Nightmare If It Happens. It’s safe to say that everything from politics to our economy is being manipulated on the highest levels of global governance and finance. While those in the upper echelons of the decision making apparatus tell us their agenda is being implemented for the betterment of society and the little guy, we know that exactly the opposite is the case. And at some point in the very near future this will become apparent to the general public. By the time the people realize what has happened, however, it’ll be much too late. As the latest micro-documentary from the Wealth Research Group highlights, the system as we have come to know it is on its last leg and those who fail to understand what’s happening around them will pay the ultimate price.

This is our final chance to protect ourselves from the catastrophic ending to a 103-year-old era.  The greatest wealth transfer of all times is upon us as Treasury bill holders and everyday savers will lose fortunes while the U.S. dollar takes the last breath before returning to ashes… like all fiat currencies throughout history.

The Treasury collaborated with The Fed on their largest combination of scams ever… the bailouts… the QE programs… and negative interest rates.

But the most desperate action is yet to come. In order to keep the dollar alive the equivalent of electric shocks will be given to save the dollar. Get ready for helicopter money.

This is our worst nightmare if it happens and has the potential to lead to hyperinflation.

A Must-See breakdown of where we are and where we’re headed next:

pionier video

“Conquering the Coming Collapse” – Real, Proven Survival Strategies When Money Turns Into Dust

Stock Market CRASH, Bank Run, and Hyperinflation Coming!

The Collapse of America: The FED Prepares for Hyperinflation

source: www.shtfplan.com

www.patriotnetdaily.com

Major Problems Announced At One Of The Largest Too Big To Fail Banks In The United States

“The banks have been getting away with murder, fraud, conspiracy, war profiteering, money laundering for terrorists and drug cartels, have put millions of people out on the street without food or shelter and have successfully bought all our governments to help keep us silenced.”

Do you remember when our politicians promised to do something about the “too big to fail” banks?  Well, they didn’t, and now the chickens are coming home to roost.  On Thursday, it was announced that one of those “too big to fail” banks, Wells Fargo, has been slapped with 185 million dollars in penalties.  It turns out that for years their employees had been opening millions of bank and credit card accounts for customers without even telling them.  The goal was to meet sales goals, and customers were hit by surprise fees that they never intended to pay.  Some employees actually created false email addresses and false PIN numbers to sign customers up for accounts.  It was fraud on a scale that is hard to imagine, and now Wells Fargo finds itself embroiled in a major crisis.

There are six banks in America that basically dwarf all of the other banks – JPMorgan Chase, Citibank, Bank of America, Wells Fargo, Morgan Stanley and Goldman Sachs.  If a single one of those banks were to fail, it would be a catastrophe of unprecedented proportions for our financial system.  So we need these banks to be healthy and running well.  That is why what we just learned about Wells Fargo is so concerning…

Employees of Wells Fargo (WFC) boosted sales figures by covertly opening the accounts and funding them by transferring money from customers’ authorized accounts without permission, the Consumer Financial Protection Bureau, Office of the Comptroller of the Currency and Los Angeles city officials said.

An analysis by the San Francisco-headquartered bank found that its employees opened more than two million deposit and credit card accounts that may not have been authorized by consumers, the officials said. Many of the transfers ran up fees or other charges for the customers, even as they helped employees make incentive goals.

Wells Fargo says that 5,300 employees have been fired as a result of this conduct, and they are promising to clean things up.

Hopefully they will keep their word.

It is interesting to note that the largest shareholder in Wells Fargo is Berkshire Hathaway, and Berkshire Hathaway is run by Warren Buffett.  There has been a lot of debate about whether or not this penalty on Wells Fargo was severe enough, and it will be very interesting to hear what he has to say about this in the coming days…

Wells Fargo is the most valuable bank in America, worth just north of $250 billion. Berkshire Hathaway (BRKA), the investment firm run legendary investor Warren Buffett, is the company’s biggest shareholder.

“One wonders whether a penalty of $100 million is enough,” said David Vladeck, a Georgetown University law professor and former director of the Federal Trade Commission’s Bureau of Consumer Protection. “It sounds like a big number, but for a bank the size of Wells Fargo, it isn’t really.”

After the last crisis, we were told that we would never be put in a position again where the health of a single “too big to fail” institution could threaten to bring down our entire financial system.

But our politicians didn’t fix the “too big to fail” problem.

Instead it has gotten much, much worse.

Back in 2007, the five largest banks held 35 percent of all bank assets.  Today, that number is up to 44 percent

Since 1992, the total assets held by the five largest U.S. banks has increased by nearly fifteen times! Back then, the five largest banks held just 10 percent of the banking industry total. Today, JP Morgan alone holds over 12 percent of the industry total, a greater share than the five biggest banks put together in 1992.

Even in the midst of the global financial crisis, the largest U.S. banks managed to increase their hold on total bank industry assets. The assets held by the five largest banks in 2007 – $4.6 trillion – increased by more than 150 percent over the past 8 years. These five banks went from holding 35 percent of industry assets in 2007 to 44 percent today.

 

Meanwhile, nearly 2,000 smaller institutions have disappeared from our financial system since the beginning of the last crisis.

So the problem of “too big to fail” is now larger than ever.

Considering how reckless these big banks have been, it is inevitable that one or more of them will fail at some point.  When that takes place, it will make the collapse of Lehman Brothers look like a Sunday picnic.

And with each passing day, the rumblings of a new financial crisis grow louder.  For example, this week we learned that commercial bankruptcy filings in the United States in August were up a whopping 29 percent compared to the same period a year ago…

In August, US commercial bankruptcy filings jumped 29% from a year ago to 3,199, the 10th month in a row of year-over-year increases, the American Bankruptcy Institute, in partnership with Epiq Systems, reported today.

There’s money to be made. While stockholders and some creditors get raked over the coals, lawyers make a killing on fees. And some folks on the inside track, hedge funds, and private equity firms can make a killing picking up assets for cents on the dollar.

Companies are going bankrupt at a rate that we haven’t seen since the last financial crisis, but nobody seems concerned.

Back in 2007 and early 2008, Federal Reserve Chair Ben Bernanke, President Bush and a whole host of “experts” assured us that everything was going to be just fine and that a recession was not coming.

Today, Federal Reserve Chair Janet Yellen, Barack Obama and a whole host of “experts” are assuring us that everything is going to be just fine and that a recession is not coming.

I hope that they are right.

I really do.

But there is a reason why so many firms are filing for bankruptcy, and there is a reason why so many Americans are getting behind on their auto loans.

Our giant debt bubble is beginning to burst, and this is going to cause a tremendous amount of financial chaos.

Let us just hope that the “too big to fail” banks can handle the stress this time around.

The new World Order -Who is Obama’s boss? And why it matters.

Leaked Docs: Soros Hopes to “ Federalize Police , Take Away Local Control” Via Manufactured Unrest

Wars Were Planned 7 Countries In 5 Years: General Wesley Clark

While America Partied On Labor Day: “ Obama Initiated Another MAJOR Redistribution Of Wealth ”

German Government Tells Citizens to Stockpile Food & Water For Civil Defense

The Day The Lights Go Out And The Trucks Stop Running

What Items Should You Stock For The Purpose Of Barter ?

We Have a Problem – The Aftermath

Dealing with a Bomb or Improvised Explosive Device Incidents

Is A Large Volcano About To Erupt And Trigger A Global Unwinding?

DHS Prepares For Nuke Attack With Massive Order For Radiation Detectors : ‘To Ensure Nuclear Devices Aren’t Secretly Being Transported In Public Areas’

Is Hillary Clinton Physically Unfit To Be President ?

source: theeconomiccollapseblog.com

www.patriotnetdaily.com

While America Partied On Labor Day: “ Obama Initiated Another MAJOR Redistribution Of Wealth ”

Akin to a broken record, the Obama administration is “working” overtime, over the Labor Day weekend while the oblivious population continues to “enjoy its vacations,” mindless to what is occurring around them.  The broken record played before in this manner: with Obamacare being signed into law in 2010 just before the weekend, and the NDAA being signed by Obama via autopen while vacationing in Hawaii on New Year’s Eve of 2014.  The TPP was concluded over the weekend.  This is the new norm for the government: do as little as possible during the regular workweek, as “Dudley Do-Nothing,” and then morph into Snidely Whiplash over the weekend to unleash new, exciting, terrifying regulations and laws on the subjects (citizens, if you wish).

This past weekend was no different, yet worse.  Saturday, September 3rd Obama attended the G-20 summit being held in China.  An article out of AFP written by Andrew Beatty and Tom Hancock entitled US, China Join Climate Deal in ‘Turning Point’ for Planet  A turning point it is indeed, with focus placed upon the United States.  Here is an excerpt that glowingly lauds Obama’s actions:

Obama and his Chinese counter-part Xi Jinping handed ratification documents to UN chief Ban Ki-moon, who said he was now optimistic the agreement will be in force by the end of this year.  At a ceremony in the Chinese city of Hangzhou, Obama said climate change would “define the contours of this century more dramatically than any other challenge”. History would show that the Paris deal would “ultimately prove to be a turning point”, he said, “the moment we finally decided to save our planet”.  “There’s an American saying: You need to put your money where your mouth is. That’s what we’re doing.”

He handed the “ratification documents” right over to the UN.  The article goes on to describe how the United States was going to hold itself responsible for the “lion’s share” of the world’s pollution and greenhouse gas emissions.  Here are some more parameters:

In its Paris commitment, the US promised to cut its own emissions 26-28 percent below 2005 levels by 2025.  For its part the White House is looking for the Paris accord to come into force during Obama’s tenure, in part to burnish his climate legacy, but also to ensure it is not derailed by the forthcoming US election.

So, what is happening?  Obama has initiated another major redistribution of wealth, in this case to “developing third-world nations” in order to “take responsibility” for being one of the world’s major polluters…and “help” those nations to curb their own emissions. Coincidentally, the cited piece shows other reasons this is being done: to make Obama look “good” to the blind (“burnish his climate legacy), and do it before he’s out of office (“ensure it is not derailed by the forthcoming US election”).

It is all nebulous, because the statistics for those third-world nations have already been doctored and even partially blamed on the U.S. for industries American firms have in those locations.  In reality it will allow the funneling of billions of dollars that cannot be accounted for in their entirety, as well as place a higher burden upon the stultified American public.  Those funds will be taken indirectly and directly: indirectly by increasing the pressure on American utilities and manufacturers through EPA and emissions enforcements, causing them to raise their rates and transfer the burden of Obama’s “putting his money where his mouth is” to the American citizen’s wallet, and directly through usage taxes and fees.

The true “kicker” of the article is a summarized one sentence that reveals the broken record for what it is: a unilateral action by Obama against the will of the American people.  Here it is, straight out of the cited article:

“The administration has been careful to structure the agreement so that it can be enacted by Obama under existing presidential authorities and without Congressional approval.”

There we have it.  As with the actions first mentioned, anything to deny this measure to be put to a vote, as the American people drove to their barbeques and parties, prepared the children for another year of the brainwashing cycle that is about to commence this week, and out of the way of most of the mainstream media to keep it away from the public consciousness, not that the latter is difficult, mind you.

Meanwhile in Massachusetts, the state attorney general, Maura Healey has begun another round of attacks on gun manufacturers.  This crusade is “for the interests of public consumer safety,” and her targets are gun manufacturers Remington and Glock.  She is demanding release of consumer complaints and other statistics that would normally be protected under existing privacy laws, as well as the 2nd Amendment of the U.S. Constitution.  In an article written by Herschel Smith entitled Massachusetts Attorney General Maura Healey Attacks Gun Manufacturers, the “reasoning” behind such actions is described as follows:

A Healey spokeswoman said the attorney general is asking gun manufacturers to turn over customer safety complaints because firearms are one of the only products not regulated by the federal Consumer Product Safety Commission.   In May, she led a dozen attorneys general in calling on Congress to allow the Centers for Disease Control and Prevention to study gun deaths as a public health issue.  A day later, she spoke at a White House gun violence summit, where she decried the legal immunity Congress has granted to gun makers.  “This is the only product of its kind for which Congress has given the industry extensive freedom from liability,” she said at the White House. “That’s not right. The gun industry should be held to the same liability standards as the manufacturers and sellers of other consumer products.”

Healey referred to gun violence as a “public crisis” and an “epidemic” to justify her crusade against the firearms industries, and use as further justification to involve the CDC and enable a tie-in with “mental health” issues and target specific groups such as veterans and vocal protestors of the government.  The situation here is also obvious:

The Federal Government, wishing to tread lightly before the election is using the states (Healey is a Democrat) to indirectly institute bureaucratic controls and circumvent the 2nd Amendment in the eternal “interests of public safety” that can be tied into and used as justification for federal and/or executive actions to be conducted post-election.

These are examples of how our rulers (formerly representatives) of the reign (formerly government) wait until the focus of the people is diverted from issues by bread and circuses before they strike.  Most Americans are counting upon the election to provide us with a Dudley Do-Right to cut the ropes holding Nell (the American people) to the railroad tracks.  The problem is that Snidely Whiplash (the administration) is not going to allow a legitimate election to occur, and in the meantime he’s waiting to strike when the public is asleep and oblivious to his actions…in this instance, on Labor Day.

Leaked Docs: Soros Hopes to “ Federalize Police , Take Away Local Control” Via Manufactured Unrest

Wars Were Planned 7 Countries In 5 Years: General Wesley Clark

German Government Tells Citizens to Stockpile Food & Water For Civil Defense

The Day The Lights Go Out And The Trucks Stop Running

What Items Should You Stock For The Purpose Of Barter ?

We Have a Problem – The Aftermath

Dealing with a Bomb or Improvised Explosive Device Incidents

Is A Large Volcano About To Erupt And Trigger A Global Unwinding?

DHS Prepares For Nuke Attack With Massive Order For Radiation Detectors : ‘To Ensure Nuclear Devices Aren’t Secretly Being Transported In Public Areas’

Is Hillary Clinton Physically Unfit To Be President ?

source: www.shtfplan.com – by Jeremiah Johnson

www.patriotnetdaily.com

The Day The Lights Go Out And The Trucks Stop Running

What would happen if some sort of major national emergency caused a massive transportation disruption that stopped trucks from running?  The next time you talk to a trucker, please thank them for their service, because without their hard work none of our lives would be possible.  In America today, very few of us live a truly independent lifestyle, and that means that we rely on the system to provide what we need.  Most of us take for granted that there will always be plenty of goods at Wal-Mart and at the grocery store whenever we need more “stuff”, and most of us never give a second thought to how all of that “stuff” gets there.  Well, the truth is that most of it is brought in by trucks, and if the trucks stopped running for some reason the entire country would devolve into chaos very rapidly.

Earlier today, I came across a quote from Alice Friedemann that detailed what we would be facing during a major national transportation disruption very nicely…

Within a week, in roughly this order, grocery stores would be out of dairy and other items that are delivered many times a day. And by the week, the shelves would be empty.

Hospitals, pharmacies, factories, and many other businesses also get several deliveries a day, and they’d be running out of stuff the first day.

And the second day, there’s be panic and hoarding. And restaurants, pharmacies would close. ATM’s would be out of money. Construction would stop. There’d be increasing layoffs. Increasing enormous amounts of trash not getting picked up, 685,000 tons a day. Service stations would be closed. Very few people would be working. And the livestock would start to be hungry from lack of feed deliveries.

Then within two weeks, clean water supplies would run out. Within four weeks to eight weeks, there wouldn’t be coal delivered to power plants and electricity would start shutting down. And when that happened, about a quarter of our pipelines use electricity, and so natural gas plants wouldn’t be fed natural gas and they’d start shutting down.

A major disruption in trucks travel would immediately impact seven major industries, and would bring America to its knees within days due in part to “Just-In-Time” manufacturing, zero-inventory, and the fact that our modern way of life is entirely dependent upon unimpeded distribution chains.

There is so much infrastructure that we take for granted that would suddenly become very vulnerable in this type of scenario.  There are countless numbers of workers out there that never get any glory that do the hard work of maintaining our nuclear power plants, our natural gas pipelines, our electrical grid, etc.  If they suddenly were not able to do their jobs, the consequences would be absolutely catastrophic.  The following comes from Tess Pennington

They rarely mention the dozens of nuclear power plants that litter the United States. If no one is there to operate them, how long before they melt down and bury millions of survivors under a radioactive cloud?

Then there are the 12,000 facilities around the country that store large quantities of toxic or flammable chemicals, and reside close to residential areas. 2,500 of these sites contain chemicals in quantities that, if a catastrophic accident were to occur, could affect 10,000 to 1 million people each. And let’s not forget the 2.5 million miles of oil and gas pipelines that can be found in every state. They suffer hundreds of leaks and ruptures every year, and are much more likely to explode when they aren’t maintained. That detail seems to be conveniently forgotten by post-apocalyptic films.

And finally, most post-apocalyptic movies will forget to mention what happens when there aren’t any functional fire departments. Aside from the obvious consequences, like whole neighborhoods routinely burning to the ground, who’s going to put out landfill fires that are occasionally radioactive?

emp bout

For most Americans, a major national emergency of this magnitude may seem unimaginable right now.  But the truth is that it isn’t difficult to see how this kind of scenario could happen.  The Yellowstone supervolcano is becoming increasingly active, a single large asteroid could change all of our lives in a single moment, a crippling pandemic could bring normal life in America to a complete standstill, a terror attack involving weapons of mass destruction would spread panic and fear like wildfire, and a historic earthquake along the New Madrid fault, the Cascadia Subduction zone or any of the major faults in California could literally change the geography of our entire continent.

In addition, a massive EMP burst from a nuclear weapon or from the sun could fry our power grid and send us back into the stone age in a single moment.  This is something that I have written about extensively, and those that want to minimize this threat simply don’t know what they are talking about.

And an electromagnetic pulse is not even required to cause very serious problems with our electrical grid.  For instance, just consider what happened in Ukraine toward the end of last year

On December 23rd, 2015, the Prykarpattyaoblenergo power distribution station in Ukraine was hit by a carefully coordinated cyber-attack that was months in the making. The technicians lost control of their cursors as they watched hackers open breakers and take circuit after circuit offline, plunging 230,000 residents into darkness.

The hackers took backup power of the stations offline, plunging the electrical workers into darkness too, and worse yet, they even rewrote the low-level firmware that controls the electrical transformers. The attack had come after months of careful infiltration and planning by a dedicated team of elite cyber-warfare specialists and the result was devastating.

Even months later, technicians struggled to regain full capacity in the electrical grid due to the overwriting of firmware. With Ukrainian moves to nationalize power companies, it is possible that the powerful and Putin-connected Russian oligarchs who own large parts of Ukraine’s infrastructure were sending a message: we can shut down the system anytime we want.

The truth is that we are far more vulnerable than most of us would like to admit.

So what would you do if “normal life” suddenly came to an end and you no longer had access to food, water or power?

How would you and your family respond?

Hopefully you would continue to act in a civilized manner, but history has shown that many people would not.

Desperate people do desperate things, and it would only take a matter of days for some people to become violent

Before long, getting mugged or being a victim of some type of crime is as unpredictable and as common as a car accident. You’ll realize everyone in the neighborhood has now beefed up security on their homes. All your family, friends, and coworkers have experienced a mugging, carjacking, or worse.

You’ll have no choice but to accept this new way of life and count on basic safety measures (a form of passive denial) or further learn to defend yourself and remain in a constant state of alert (a very stressful state over time). It’s difficult emotionally, mentally, and physically to remain on high alert 24/7 for any length of time. Most people will revert to a form of passive denial until the next incident happens to them or a family member.

And even though things may seem relatively stable for the moment, concern about what is coming is one of the factors that has led an increasing number of Americans to arm themselves.  According to a brand new study from the Pew Research Center, 44 percent of all American homes now have a gun.  Just two years ago, a different study found that number was sitting at just 31 percent.

The way that we are living our lives right now will not last indefinitely.

At some point a major national emergency will strike, and when that day arrives we could suddenly be facing major power grid and transportation disruptions.

IMPACT TIMELINE IF TRUCKS STOPPED ROLLING

The first 24 hours

• Delivery of medical supplies to the affected area will cease.
• Hospitals will run out of basic supplies such as syringes and catheters
within hours. Radiopharmaceuticals will deteriorate and become
unusable.
• Service stations will begin to run out of fuel.
• Manufacturers using just-in-time manufacturing will develop component
shortages.
• U.S. mail and other package delivery will cease.

Within 48 hours

• Food shortages will begin to develop.
• Automobile fuel availability and delivery will dwindle, leading to skyrocketing
prices and long lines at the gas pumps.
• Without manufacturing components and trucks for product delivery,
assembly lines will shut down, putting thousands out of work.

Within 72 hours

• Food shortages will escalate, especially in the face of hoarding and
consumer panic.
• Supplies of essentials—such as bottled water, powdered milk, and
canned meat—at major retailers will disappear.
• ATMs will run out of cash and banks will be unable to process
transactions.
• Service stations will completely run out of fuel for autos and trucks.
• Garbage will start piling up in urban and suburban areas.
• Container ships will sit idle in ports and rail transport will be disrupted,
eventually coming to a standstill.

Within a week

• Automobile travel will cease due to the lack of fuel. Without autos and
busses, many people will not be able to get to work, shop for groceries,
or access medical care.
• Hospitals will begin to exhaust oxygen supplies.

Within two weeks

• The nation’s clean water supply will begin to run dry.

Within four weeks

• The nation will exhaust its clean water supply and water will be safe for
drinking only after boiling. As a result gastrointestinal illnesses will
increase, further taxing an already weakened health care system.

Are you prepared for that?

If not, you might want to do so while you still have time.

When The Trucks Stop, It’s Over

We Have a Problem – The Aftermath

What Items Should You Stock For The Purpose Of Barter ?

Dealing with a Bomb or Improvised Explosive Device Incidents

Is A Large Volcano About To Erupt And Trigger A Global Unwinding?

Advantages of the Dakota Fire Hole

If This Keeps Up, They Will Have To Start Putting Armed Guards On Food Trucks

source: theeconomiccollapseblog.com

www.patriotnetdaily.com

Watch Venezuela, Because Food Shortages , Looting And Economic Collapse Are Coming To America Too

The full-blown economic collapse that is happening in Venezuela right now is a preview of what Americans will be experiencing in the not too distant future.  Just a few years ago, most Venezuelans could never have imagined that food shortages would become so severe that people would literally hunt dogs and cats for food.  But as you will see below, this is now taking place.  Sadly, this is what the endgame of socialism looks like.  When an all-powerful government is elevated far above all other institutions in society and radical leftists are given the keys to the kingdom, this is the result.  Food shortages, looting and rampant violent crime have all become part of daily life in Venezuela, and we all need to watch as this unfolds very carefully, because similar scenarios will soon be playing out all over the planet.

The funny thing is that Venezuela actually has more “wealth” than most countries in the world.  According to the CIA, Venezuela actually has more proven oil reserves than anyone else on the globe – including Saudi Arabia.

So how did such a wealthy nation find itself plunged into full-blown economic collapse so rapidly, and could a similar thing happen to us?

The president of Venezuela has declared a 60 day state of emergency in a desperate attempt to restore order, but most people don’t anticipate that it will do much good.  Social order continues to unravel as the economy systematically implodes.  The Venezuelan economy shrunk by 5.7 percent last year, and it is being projected that it will contract by another 8 percent in 2016.  Meanwhile, inflation is raging wildly out of control.  According to the IMF, the official inflation rate in Venezuela will be somewhere around 720 percent this year and 2,200 percent next year.

If people are able to get their hands on some money, they immediately rush out to the stores to use it before the prices go up again.  This has created devastating shortages of food, basic supplies and medicine.

Electricity is also in short supply, and a two day workweek has been imposed on many government employees in a desperate attempt to save power.  Violent crime is seemingly everywhere, and most law-abiding Venezuelans lock themselves in their homes at night as a result.

Much of the crime is being perpetrated by the mafia and the gangs, but sometimes it is just normal people looking for food.  Desperate people do desperate things, and according to the Guardian there have been “107 episodes of looting or attempted looting in the first quarter of 2016″…

Crowds of people in Venezuela have stolen flour, chicken and even underwear this week as looting increases across the country in the wake of shortages of many basic products. Many people have adopted the habit of getting up in the dead of night to spend hours in long lines in front of supermarkets. But as more end up empty-handed and black market prices soar, plundering is rising in Venezuela, an Opec nation that was already one of the world’s most violent countries.

There is no official data, but the Venezuelan Observatory for Social Conflict, a rights group, have reported 107 episodes of looting or attempted looting in the first quarter of 2016. Videos of crowds breaking into shops, swarming on to trucks or fighting over products frequently make the rounds on social media, though footage is often hard to confirm.

One example of this looting took place on May 11th.  Thousands of hungry people stormed Maracay Wholesale Market in central Venezuela, and the police seemed powerless to stop them

“They took milk, pasta, flour, oil, and milk powder. There were 5,000 people,”one witness told Venezuela outlet El Estímulo.

People from across the entire state came to the supermarket because there were rumors that some products not found anywhere else would be sold there.

“There were 250 people for each National Guard officer… lots of people and few soldiers. At least one officer was beat up because he tried to stop the crowd,” another source told El Estímulo.

It is important to remember that this was not an isolated incident.  As people have become hungrier and hungrier, there have been reports of looting at “pharmacies, shopping malls, supermarkets, and food delivery trucks“.  During some of these episodes there have actually been people chanting “we are hungry”.

Other Venezuelans have resorted to digging in dumpsters and trash cans for food.  This many seem detestable to many Americans, but when you are desperately hungry you may be surprised at what you are willing to do.

And as I mentioned above, some Venezuelans and now actually hunting dogs and cats for food

Ramón Muchacho, Mayor of Chacao in Caracas, said the streets of the capital of Venezuela are filled with people killing animals for food.

Through Twitter, Muchacho reported that in Venezuela, it is a “painful reality” that people “hunt cats, dogs and pigeons” to ease their hunger.

You may be tempted to dismiss these people as “barbarians”, but someday Americans will be doing the exact same thing.

There has been a breakdown of basic social services in Venezuela as well.  Acute shortages of drugs and medical supplies are having absolutely tragic results.  When I read the following from the New York Times, this crisis in Venezuela become much more real to me…

By morning, three newborns were already dead.

The day had begun with the usual hazards: chronic shortages of antibiotics, intravenous solutions, even food. Then a blackout swept over the city, shutting down the respirators in the maternity ward.

Doctors kept ailing infants alive by pumping air into their lungs by hand for hours. By nightfall, four more newborns had died.

So once again I ask – how did such a thing happen to such a wealthy nation?

Here is Business Insider’s explanation…

The real culprit is chavismo, the ruling philosophy named for Chavez and carried forward by Maduro, and its truly breathtaking propensity for mismanagement (the government plowed state money arbitrarily into foolish investments); institutional destruction (as Chavez and then Maduro became more authoritarian and crippled the country’s democratic institutions); nonsense policy-making (like price and currency controls); and plain thievery (as corruption has proliferated among unaccountable officials and their friends and families).

Are not the same things happening here?

The U.S. government is mismanaging our money too.  During Barack Obama’s eight years in the White House, the U.S. national debt has risen by more than eight trillion dollars.  We waste money in some of the most bizarre ways imaginable, and at this point our national debt is nearly the double the size it was just prior to the last major financial crisis.

Institutional destruction is also a legacy of the Obama regime.  With each passing day, our society resembles the Republic that our founders originally intended less and less, and it resembles socialist dictatorships more and more.  We may as well not even have a Constitution anymore, because at this point nobody really follows it.

The third thing that Business Insider mentioned, “nonsense policy-making”, is a perfect description of what has been going on in Washington D.C. these days.  Perhaps that is why Congress only has a 12.8 percent approval rating right now.

Lastly, thievery and corruption are also out of control in our nation too.  The elite and special interest groups spend massive amounts of money to get their favorites into office, and in turn those politicians shower their good friends with money and favors.  It is a very sick relationship, but that is how our system now works.

We are sitting on the largest mountain of debt in the history of the planet, and our debt-fueled prosperity is completely dependent on the rest of the world lending us gigantic amounts of money at ridiculously low interest rates and continuing to use our increasingly shaky currency which we are debasing at a staggering pace.

We consume far more than we produce, and unlike Venezuela we aren’t sitting on hundreds of billions of barrels of oil.  The amount of “real wealth” that we actually have does not justify our current standard of living.  The only way that we are able to live the way that we do is by stealing consumption from the future.  One study has found that our debt level is the highest that it has been since the Great Depression of the 1930s, and yet we continue to race down this road to economic oblivion without even thinking twice about it.

What you sow is what you will reap.

And just like Venezuela, America will ultimately reap a very bitter harvest.

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Why is the US military training for urban warfare in America if not for the forthcoming ‘collapse’ of the US dollar and the resultant civil unrest?

The Cycle Of Civil Unrest Is Beginning

This Is How Government Dealt With Dissent And Revolt – “Soldiers Shooting Civilians In The Streets, Paramilitaries Roaming Neighborhoods”

Civil War Is Now On The Horizon For America

source: theeconomiccollapseblog.com

www.patriotnetdaily.com

Anonymous Strikes the Heart of the Empire — Takes Down U.S. Federal Reserve Bank

After announcing a global call to arms against the “corrupt global banking cartel,” the hacker collective known as Anonymous, in conjunction with numerous other hacktivist groups, have taken over 20 central banks offline, including striking at the heart of the Western imperialist empire; the U.S. Federal Reserve Bank of Boston, the Bank of England and the Bank of France.

federal reserve anonymous1

A press release by Anonymous explained in the intentions behind the operation know as #OpIcarus:

“The banks have been getting away with murder, fraud, conspiracy, war profiteering, money laundering for terrorists and drug cartels, have put millions of people out on the street without food or shelter and have successfully bought all our governments to help keep us silenced. We represent the voice of the voiceless. We are uniting to make a stand. The central banks which were attacked in recent days were attacked to remind people that the biggest threat we face to an open and free society is the banks. The bankers are the problem and #OpIcarus is the solution.”

Operation Icarus was relaunched in conjunction with a video release announcing the beginning of a “30-day campaign against central bank sites across the world.” Since that time, the scope and magnitude of the attacks have increased exponentially, with Anonymous, Ghost Squad Hackers, a number of Sec groups and BannedOffline coordinating attacks — each focusing on separate financial institutions in an effort to maximize the number of targets hit.

Some individuals have expressed reservations about Anonymous attacking the central banking system – thinking that this will in some way impact their individual accounts held in the banks. In an exclusive interview with The Free Thought Project, an Anonymous member explained that this operation is directed solely at the 1%:

“We would just like to make it very clear that all targets of #OpIcarus have been Rothschild and BIS central owned banks. In fact most of the targets so far such as Guernsey, Cyprus, Panama, Jordan, British Virgin Isles, etc are in the top 10 places of tax havens for the elite. No on-line consumer accounts were harmed, no ATM’s were blocked and no personal client data was leaked. This has been a protest against the Central Banks and the 1% — no innocent or poor people were harmed”

The operation began with an initial attack on the Central Bank of Greece and was quickly followed up with a similar DDoS attack on the Central Bank of Cyprus. Last weekend, hackers reportedly targeted the Central Bank of the Dominican Republic, the Dutch Central Bank, the Central Bank of Maldives, and Guernsey Financial Services Commission, according to the official @OpIcarus Twitter account, which has been taken offline — presumably by Twitter. The National Bank of Panama and the Central Bank of Kenya were also reportedly targeted a day later, according to hacking news publication HackRead.

Additionally, reported Ghost Squad Hacker, s1ege also tweeted about taking the Central Bank of Bosnia-Herzegovina offline and provided a screenshot to verify. The Twitter account @BannedOffline also reported the Central Bank of Mexico had succumbed to a DDoS attack by the hacking collective. The online hacktivist groups have continued to conduct a series of high-powered distributed denial-of-service (DDoS) attacks, which forced the website of Central Bank of Jordan, Central Bank of South Korea, Bank of Compagnie, Monegasque and the Central Bank of Montenegro offline.

On Saturday, hackers conducted a series of 250 Gbps DDoS attacks on the Bank of France, Central Bank of the United Arab Emirates, Central Bank of Tunisia, Central Bank of Trinidad and Tobago and Philippine National Bank. The recent attack, on Monday morning, took down the Central Bank of Iraq.

opicarus

opicarus1

In the most high-profile hacks thus far, during OpIcarus, the U.S. Federal Reserve Bank of Boston, the Bank of England and the Bank of France all fell victim to separate cyber attacks.
opicarus2

In an exclusive interview with The Free Thought Project, an Anonymous representative explained:

OpIcarus in support of Nuit Debout took the bank of France off line throughout the day as we continue to address the corruption of the banking elite. We are acting on behalf of the countless victims and the voiceless as the banking cartels continue their agenda of buying the governments while selling out the people they are supposed to govern. This Op in no way is meant to harm or disrupt the common person and their day-to-day activities. We are you, we may be your neighbors, those you pass in the street and we are the working class. A Filipino hacker within Anonymous was also able to disrupt services in the Philippines as an act of protest against his nation’s corrupt and brutal government. We will not and cannot sit by idly while the banking systems strip man of his dignity.

Anonymous has released a list of institutions the collective plans to target, which is divided into four sections; websites associated with the U.S. Federal Reserve, the International Monetary Fund (IMF), sites owned by the World Bank, and over 150 sites associated with national banks around the globe.

In two weeks, OpIcarus hackers have hit dozens of financial institutions listed in their online manifesto. Any questions about whether the hacktivists would be able to take out some of the more high-profile institutions seem to have been answered with the recent successful attacks on the U.S. Federal Reserve Bank in Boston, the Bank of France and the Bank of England — the central banks of the U.K. and France.

The attack on the Bank of England was unique from the previous attacks, as it reportedly took down the internal email server.

opicarus3

While some have questioned the effectiveness of OpIcarus, senior director at Corero Network Security, Stephanie Weagle told Info Security magazine:

“While the impact on the individual targets of the DDoS attack campaign, ‘OpIcarus’ is unclear; obstructing or eliminating the availability of email servers is significant. In an online world any type of service outage is barely tolerated, especially in the banking industry where transactions and communications are often time-sensitive, and account security is of utmost importance.”

Make no mistake that this operation has already been extremely effective — evolving and growing rapidly. In the world of high finance time is money, and every minute that a bank is forced offline it is losing potential revenue, which in turn hurts the bottom line of those that support the imperial war machine. Thus far, all targeted banks have refused to comment on the damage inflicted by the continuous cyber attacks.

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by Jay Syrmopoulos

source: thefreethoughtproject.com

www.patriotnetdaily.com

Financial Analyst Warns: “What We’re Looking At Is An Event You’re Not Going To Be Able To Recover From”

“Things are breaking down, something big is happening,” according to leading alternative news web site SGT Report.

Citing the recent emergency meeting between the Federal Reserve and President Obama, America’s explicit warning to other countries not to devalue their currencies against the dollar, and scores of other global indicators, SGT Report’s latest interview with Bill Holter may be your last chance to get ready for the next wave.

What we’re looking at is an event that you’re not going to be able to recover from… If this market snaps and the markets close and you’re not in position, you’re out for the rest of your life.

That an economic catastrophe is imminent should be at the very forefront of mainstream news. But instead of heeding the warnings, the propaganda has gone so deep that even President Obama says that those who say there is something wrong are peddling fiction.

But the reality is that even they know what’s coming.

The following exchange between SGT and guest Bill Holter is all you really need to know:

SGT Report: This is a big one. This is General Mark Milley. He’s the U.S. Army Chief of Staff and he was giving the keynote address to the ROTC Centennial Symposium on April 22nd, 2016.

[plays clip]

“You’re going to be leading the soldiers, sailors, airmen and marines in that world. You’ll be dealing with terrorists, you’ll be dealing with hybrid armies, you’ll be dealing with little green men, you’ll be dealing with tribes, you’ll be dealing with national leaders and local leaders.”

I want your impression of what he just said… This is General Mark Milley, the U.S. Army Chief of Staff!

Hybrid armies? And tribes? And terrorism?

That sounds like economic collapse and the total breakdown of U.S. society as we know it.

Bill Holter: It does make you think… what exactly is he talking about? What does he know that we don’t? Obviously he has information that we don’t have.

For him to throw that list out, that opens up all kinds of potentials and it tells me they know.

They know it’s coming.

… You can see it from a financial standpoint… you need to make a leap from the financial standpoint.. when that collapses what happens?

Once the financial markets collapse, it’s every man for himself and our way of life is gone and will never return in our lifetime.

The warnings are everywhere and the U.S. Army Chief of Staff just gave us another one. The government has been simulating economic collapse and civil unrest scenarios for nearly a decade. They started immediately following the Collapse of 2008.

Why?

Because they know it’s unfixable.

Time is running short and the time to prepare is now. Because as Bill Holter warns in the interview above, once it happens you may be out for the rest of your life.

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Crash of the Banks – Lindsey Williams

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The Bank Pyramid Scheme

Red Alert!!! Central Banks Are Telling Us to Dump Our Currency!!!!! Life-Saving Video!!!

source: www.shtfplan.com

www.patriotnetdaily.com

Dramatic Dollar Reset Is Afoot – Right Now

Could there be a dramatic and overnight reduction in the value of the dollar? “I think this is coming in very short order now. The trail of bread crumbs is indicating this is what is afoot RIGHT NOW.” (macroeconomic researcher Rob Kirby)

I have been following recent events this week of the emergency Federal Reserve meetings, the admission by Deutsche Bank of precious metals price rigging, China’s new ‘Interbank Payment System’ (CIPS), and the new gold trading market at the Shanghai Gold Exchange. This, coupled with China’s enormous accumulation of gold over these past years has triggered my notion to post and alert you of what may be coming our way – and potentially very soon…

A flooding of dollars back to the U.S. resulting in a rapid devaluation of its purchasing power (currency inflation).

“This is going down… this is going to happen.”
“I think this is going down in the next two, three weeks.”
“The clock’s about to strike midnight…”
(-Kirby)
One of my regular morning stops as I browse the web searching for alternative news is Greg Hunter’s site. I was surprised to see this morning that he replaced his normal Friday wrap-up with an ’emergency’ post of sorts – an interview with Rob Kirby. Having read the post and listened to the interview, it all matched up with what I’ve been surmising myself – so my gut told me to post on the subject, given it’s potentially dramatic outcome:

Earlier this week (Monday) when I read multiple reports of emergency meetings of the Federal Reserve, I thought something ‘was up’ – especially when it became obvious that it was ‘secret’. But what made it even more interesting was when the Fed Chairman went over to the White House and met with the President and the vice President. Again, secretive – while some lame excuse was fed to the lapdogs of the press. However, to me, this screams of a ‘national security’ issue…

As the week went on I read about major troubles at one of the world’s major banks, Deutsche Bank (German Bank) which has taken on a catastrophic amount of reckless credit market risks – with its tentacles of derivatives reaching far and wide into ‘the system’… but it was the report that it was turning ‘rogue’ against the system that really caught my eye:

Earlier today (Thursday) when we (ZeroHedge) reported the stunning news that DB has decided to “turn” against the precious metals manipulation cartel by first settling a long-running silver price fixing lawsuit which in addition to “valuable monetary consideration” said it would expose the other banks’ rigging having also “agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement” we said “since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has “turned” that much more curious information about precious metals rigging will emerge, and will confirm what the “bugs” had said all along: that the precious metals market has been rigged all along.”
-ZeroHedge.com

The curious glaring question is “Why are they admitting it now?”, especially since many of us have known about the orchestrated manipulation and price rigging for years (coordinated by the U.S. Treasury with the Federal Reserve and the banking cartel – in order to help hold up the dollar within the system)…
A little more info:
China’s ‘Interbank Payment System’ (CIPS) is a new system which offers clearing and settlement services for its participants in cross-border payments and trade.

SWIFT (The Society for Worldwide Interbank Financial Telecommunication) has been the De facto European-centric network that enables financial institutions worldwide to transact, and is used by most all international banking institutions.

The interesting thing is this… SWIFT, has just inked a memorandum of understanding (MOU) with China’s (CIPS), which will integrate China and the Chinese Renminbi (RMB -their currency – aka the yuan) for payments with the broader global SWIFT community.

Let that sink in a little bit more. This effectively means that there will be less of an incentive, requirement, or need, to transact only or primarily in U.S. payment systems (the Clearing House Interbank Payment System, and ‘the Fed Wire’). This will be a very big ‘can of worms’ for the dollar’s reserve status as China’s merger with SWIFT develops.

But there’s something even more telling:
The Shanghai Gold Exchange (a ‘physical’ gold exchange as opposed to ‘paper’ gold) will apparently be going live on April 19 and will place China squarely on the stage of yuan-denominated ‘price discovery’ for gold. Once the price setting is out of the western criminal (rigged) price setting system (COMEX, LBMA), what do you think might happen?

Now let me take this a step further. ‘What if’ China announces that their currency (the Remnibi, also known as the RMB, or yuan) is now backed by a percentage of gold? Anyone who has been paying attention knows that China has been aggressively amassing gold – much more than they have been officially announcing, and many suspect that this has been their eventual aim (to insert themselves into the competing status of a currency reserve and to diminish the dollar’s role as the sole reserve currency).

What then will happen to the dollar?
Answer: Since there are SO MANY dollars (electronic digits thereof) out there in the world, when the time comes when they’re not needed so much anymore much of it will come flooding back home.

What happens then?
Answer: Prices will go up due to the inherent devaluation effects. How much and how quickly will depend on the extent of the global reset.

It is the opinion of Mr. Kirby (and many others) that this is all coming together very soon, and nearly every American is completely unaware.

I’m not offering any particular advice, but I’m just putting it out there for your consumption.
Be prepared.

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source: modernsurvivalblog.com

www.patriotnetdaily.com

What Happened When I Tried to Take $1500 Cash Out of Bank of America-Bank Holiday is Near

Yesterday, I went to Bank of America to withdraw $1500 cash. You would of thought I had a sign around my neck saying that I was a heroin dealer.

The teller went and got a bank officer who began to question me:

Bank Officer: Sir, what are you using the money for?

Me: I am using it for a personal matter. Beyond that, it is none of your business.

Bank Officer; Sir, we can put a hold and your account.

Me: Mr. Bank Officer, I will remove my entire account and deposit it to another bank if I do not have my money in five minutes.

Bank Officer: Sir, your threats will not work here and if you are not cooperative and fill out this form, I will call the police and notifiy the IRS.

Me: Mr. Bank Officer, call who you want…. You obviously do not know who I am . Between my writing and broadcasting, I reach over 2 million people per week. I would say that statistically about 400,000 people have B of A accounts. Before the end of this month, you will see sizeable withdrawals based upon my recantation of this conversations. By the way, I am recording this.

The bank officer disappeared and came back in a few moments. He instructed the teller to process my request.

Bank Officer: I have reviewed your account history and you have been an excellent customer. You are obviously using the money for honorable purposes.

Me: Thank you. The purposes for the use of my money, is none of your business, it is a matter for law enforcement. You should think about this when you try to bully the next guy.

I requested the money in one hundred dollar bills, They had one, count it, one, one hundred dollar bill. I asked if the bank was making good on the rumor that they were phasing out one hundred dollar bills. And they said they did not know what I was talking about.

This morning, I closed one of my accounts and arranged for a transfer to another bank that houses my business account.

Before you move any money, you need to read the following,, or risk going to jail:

Can you find yourself in the above picture? Don’t be “that guy”. These people will end up living under a cardboard box or they will forced to go to a FEMA camp for food and water?

I am going on the recording by predicting that the Federal Reserve will steal your money by faking a cyber attack. In fact, FEMA and DHS actually practiced for this event on October 23rd and 24th of 2013. As I wrote on June 12, the Federal Reserve, the FDIC and the Bank of London practiced for widespread banking failure on November 10, 2014. On November 16, 2014, the G20 nations declared your bank deposits to not be money and they can take it whenever they want. On August 8, 2012, the 7th Circuit Court of Appeals ruled that the banks own your money when you deposit your paycheck into the bank.

Paul Martin, on behalf of Texas radio personality Bennie Pope, informed me that a secret meeting has recently taken place in Albuquerque, New Mexico, and that the meeting was facilitated by the FBI. The meeting consisted of many major bankers in the west. I have learned that each banker was forced to sign a binding national security agreement which included a non-disclosure provision. Each banker was told that their communications of both themselves as well as their family and known associates are being monitored to detect leaks. The nondisclosure agreements include a provision to bypass all due process requirements for violating the agreement. Anyone caught violating the agreement, forfeits all personal possessions (e.g. bank accounts, property titles, etc.) and immediately is sentenced to  Leavenworth Federal Prison for 25 years of hard labor. This agreement effectively made the bankers intelligence operatives of the United States government. My source for this information is ex-military intelligence and Army Special Operations Forces. This leak is permeating the command brass of the Pentagon as well as military intelligence. Obama does not enjoy widespread support from the military. From what I was told, the Chinese military

is not on board with this planned global economic reset and the installation of a one-world currency and subsequently a one-world government. If you ever wondered why DHS purchased 1.2 billion rounds of information, I think it was for this moment. This whole situation could erupt into several civil wars across the planet including China and the United States. Putin may be able to avoid this pitfall because he has eliminated much of the globalist influence in his energy empire and much of his banking system. Under this scenario, I fear that global government could be Russian in origin, not Chinese as so many have predicted.

This same kind of meeting was recently held on the East coast as well and followed a covert disaster drill involving foreign troops practicing to enforce martial law provisions that will follow a widespread emergency that will effectively close the banks for a period of time. The East coast drills were eerily similar to the following video.

Chinese Military Trains with U.S. military in Washington State

Please note in the above video, that the joint Chinese/U.S. military activities, moved very quickly from humanitarian to combat. This because they were practicing civilian suppression. The U.S. government has several treaties with the UN and foreign armies to assist the government in times of civilian insurrection. A bank holiday in which no point of sale will happen, ATM’s are close and people cannot withdraw money from the banks could lead to social chaos requiring military intervention. And people were wondering during Jade Helm 15 why so many of the resources of the military were being redeployed. In short, tanks will guard the banks.

The Most Requested Subject In the History of The Common Sense Show

I have been inundated with requests for more information on how to get your money out of the bank. If you think your money is safe while sitting in the bank, you desperately need to do some investigation. S&P just downgraded the 8 major banks in the United States. They are already in a lot of trouble.

There is no doubt that anyone who leaves all of their money in the bank needs their head examined. However, if you walk up to your “friendly” teller  and ask to withdraw all, or most, of your money, you will either be shown the door and/or arrested for violating federal banking laws. Yes, it is now a crime to take your own money out of your own bank account, just ask former Speaker of the House, Dennis Hastert who has been indicted and now convicted for taking HIS money out of HIS bank account.

Even Congressmen Aren’t Safe From the Banksters

hastert

Federal prosecutors have charged a former Republican House speaker, Dennis Hastert, with illegally structuring cash withdrawals from bank accounts which were designed to conceal payments to someone he committed “prior misconduct” against and Hastert is also accused of lying to the FBI about the event. The indictment did not specify who Hastert was paying off for his prior misconduct, but anonymous sources allege that Hastert had sexual contact with a minor when he was a high school wrestling coach and the former student was extorting the former Congressman. A total of $3.5 million was involved according to the prosecutors. The important point to consider here is that this former Congressmen is not headed to prison for sex with a minor, or facilitating a bribe, he is headed to prison for TAKING HIS OWN MONEY OUT OF HIS BANK ACCOUNT!

You  should be concerned with going to prison. There is no question that you need to take the majority of your money out of the bank, IMMEDIATELY,  but what are the pitfalls in doing so? What should every American know prior to attempting to liberate the fruits of their own labor from the bankster controlled central bank?

Times Have Changed

Taking what was your money out of the bank is no longer a matter of walking up to your friendly teller with a withdrawal slip and the teller cheerfully honors your request and you calmly exit the bank with your money in tow. In fact, your teller is trained to look for certain indicators in any cash withdrawal of any significance.

As you move to withdraw the bulk of your money, there are three federal banking laws that you should be cognizant of, namely, Cash Transaction Report (CTR), a Suspicious Activity Report (SAR) and structuring. Before proceeding with the planed withdrawal of your money, I would strongly suggest that you read the following federal guidelines as it relates to CTR’s as produced by the The Financial Crimes Enforcement Network (FinCEN). All the federal regulations contained in this article are elucidated in this series of federal reports.

Before withdrawing your money, please be aware of these three regulations related to getting your money out of the bank.

CTR

Federal law requires that the bank file a report based upon any withdrawal or deposit of $10,000 or more on any single given day.The law was designed to put a damper on money laundering, sophisticated counterfeiting and other federal crimes.

To remain in compliance with the law, financial institutions must obtain personal identification, information about the transaction and the social security number of the person conducting the transaction.

Technically, there is no federal law prohibiting the use of large amounts of cash. However, a CTR must be filed in ALL cases of cash transaction regardless of the reason underlying the transaction. This means your cash transaction will be on the radar.

Structuring and SAR

There will undoubtedly be some geniuses whose math ability will tell them that all they have to do is to withdraw $9,999.99 and the bank and its protector, the federal government will be none the wiser. It is not quite that simple. Here are a few examples of structuring violations that one should be aware of:

1. Barry S. has obtained $15,000 in cash he obtained from selling his truck. He knows that if he deposits $15,000 in cash, his financial institution will be required to file a CTR. Instead he deposits $7,500 in cash in the morning with one financial institution employee and comes back to the financial institution later in the day to another employee to deposit the remaining $7,500, hoping to evade the CTR reporting requirement. Barry should have used multiple accounts to conduct this transaction.
2. Hillary C. needs $16,000 in cash to pay for supplies for her arts and crafts business. Hillary cashes an $8,000 personal check at a financial institution on a Monday. She subsequently cashes another $8,000 personal check at the bank the following day. Hillary is careful to have cashed the two checks on different days and structured the transactions in an attempt to evade the CTR reporting requirement. Hillary should have made irregular deposits on staggered days covering a significant period of time. Or better, yet she should convert her soon worthless cash to precious metals.
3. A married couple, Bill and Hillary, sell a vehicle for $12,000 in cash. To evade the CTR reporting requirement, Bill and Hillary structure their transactions using different accounts. Bill deposits $8,000 of that money into his and Hillary’s joint account in the morning. Later that day, Hillary deposits $1,500 into the joint account, then $2,500 into her sister’s account, which is later transferred to Bill and Hillary’s joint account at the same bank. Again, Bill and Hillary should have used multiple banks.
The aggregate total of the three transactions totals more than the $10,000 threshold, therefore, a SAR would be filed by the bank and you would be the subject of a federal investigation as all three of the above cases clearly violate the federal banking laws related to structuring. It is a federal crime to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement. In these instances, the bank is required to file a SAR which serves to notify the federal government of an individual’s attempt to structure deposits or withdrawals by circumventing the $10,000 reporting requirement.

Structuring transactions to prevent a CTR from being reported can result in imprisonment for not more than five years and/or a fine of up to $250,000. If structuring involves more than $100,000 in a twelve month period or is performed while violating another law of the federal government, the penalty is doubled. This is what former Speaker of the House, Dennnis Hastert is facing. 

Enforcement

uncle-same-civilian-asset-forfeiture

Much like the enforcement of our tax laws, the federal government’s enforcement of its banking laws as it relates to CTR’s, SAR’s and subsequent structuring is quite draconian. Civilian asset forfeiture laws come into play. The government can seize your bank accounts while it determines if a crime has been committed. The government can literally seize your assets in perpetuity without an order of the court. Of course, you could try and sue but you will be up against the deep pockets of the federal government and the case could take years. By the time your case is decided, the financial banking crisis that you are so desperately trying to avoid by withdrawing your money, could be over.  So, proceed with caution.

If you ever become the target of a federal investigation, do not, under any circumstances, allow yourself to be interviewed by federal officials without an attorney present and make sure you have the interview videotaped.

bullet33In many cases, people go to jail and pay huge fines, not because they have committed a federal crime, but because federal officials state that they have lied or misled them. And if you do not have an attorney present, it is your word versus the federal government. This is how the federal government sent Martha Stewart to prison and Hastert is awaiting final sentencing.

What to Do

The best way to avoid getting your money caught in the bank in the midst of a bank run would be to not let the lion’s share of your money ever cross the bank. Do not allow your employer to direct deposit your check to the bank. Keep some cash at home by taking out a large portion of the money you receive from your employer. Don’t put cash in a safety box because the courts have also ruled that the banks own your safety boxes.

Use electronic transfers to buy into a mutual funds and also use checks to buy silver coins.

Open multiple banking accounts ranging from the big five megabanks to your local credit unions. You could withdraw much smaller amounts until the sum total of your accounts is greatly diminished and is in your possession. Even though the banks “talk” to each other, if the withdrawals are irregular, it is hard to track and substantiate a pattern in court. To open the accounts, simply write a personal check from your home bank. Of course, in these cases, the bank could hold the check for 15-30 days.

Use checks and cash to pay all of your debts. Your want to lower your debt load while unloading your soon to be worthless cash.

Prepay your taxes and some other obligations with checks. Make sure you only pay safe entities. Your local government is not going to disappear, even in a depression. Therefore, you can prepay property taxes. Should you lose the ability to pay your property tax, the government will seize your property for nonpayment.

There will be a post-collapse America, therefore, purchase gold and silver. Gold and silver will be accepted mediums of exchange. Write checks to purchase gold and silver. However, collect the actual silver and gold because if you cannot touch it, you do not own it!

Conclusion

You may not be able to save everything, but rest assured, you can still save something to live on. The time to have acted was yesterday.

I can anticipate what some of you are now thinking, because I have thought the same thing!  If all of us attempt to take even just a portion out of the bank, the Federal Reserve and their servant, the federal government, will move to stop all cash withdrawals. Won’t that kind of move serve to expose the criminality of the Federal Reserve and the federal government for all to see? Awareness is the first step to action and we have the ability to force several issues out on the open at this time.

Even if you reject everything that has been stated here, please keep in mind, that it is only a matter of time until the dollar collapses. We have a $19 trillion dollar deficit, a $240 trillion dollar unfunded and mandated liabilities (e.g. Social Security, Medicare) and of course there is the $1.5 quadrillion credit swap derivatives. In view of these numbers, isn’t it time to act?

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source: beforeitsnews.com

www.patriotnetdaily.com

If You Don’t Warn The People, Their Blood Could Be On Your Hands

Why are so few voices warning the people about what is coming?  We stand at the door of a period of distress that will be unlike anything that any of us have ever known before.  And even though the signs are all around us, very few individuals appear to be willing to stand up and sound the alarm.  Instead, there seems to be a large number of people that are quite eager to criticize the watchmen.  Earlier today, I was having a conversation with a very prominent voice in the alternative media, and we were reflecting on this.  There are so many individuals out there that love to shoot arrows at those that are sounding the alarm, and yet they are doing so little to make a difference themselves.

It is easy to sit back on your sofa munching on potato chips as the world around you goes to hell, and it is easy to criticize those that have chosen to have the courage to stand up and warn the people.

But it is not easy to stand up and say the hard things that need to be said in a society that does not want to listen.

Yes, there are some watchmen out there that are doing a great job of proclaiming the warning message.  I have personally met a number of them, and I am proud to be their friends.

Unfortunately, they are few and far between.  Most people either don’t believe that we are on the precipice of disaster, they don’t care enough to warn others, or they are too busy criticizing those that are trying very hard to warn others.

And of course you don’t need a media platform to sound the alarm.  We all have family members that need to be warned about what is coming.  We all have friends that need to be warned about what is coming.  Each one of us is uniquely positioned to reach others that may not be able to be reached any other way.

In the end, we all have a choice to make.  If we sound the alarm and people choose not to listen, the responsibility for failing to act falls on them.

But if we know what is coming and we choose to do nothing to warn others, then we may end up being responsible for their blood.  This is a principle that we even seen in the Scriptures.  The following is what Ezekiel 33:1-6 says…

Again the word of the Lord came to me, saying: Son of man, speak to the children of your people and say to them: If I bring a sword upon a land, and the people of the land take a man from among them and set him for their watchman, and he sees the sword come upon the land and blows the trumpet and warns the people, then whoever hears the sound of the trumpet and does not take warning, and a sword comes and takes him away, his blood shall be upon his own head. He heard the sound of the trumpet yet did not take warning. His blood shall be upon himself. But he who takes warning delivers his soul. But if the watchman sees the sword come and does not blow the trumpet and the people are not warned and a sword comes and takes a person from among them, he is taken away in his iniquity. But his blood I will require from the hand of the watchman.

backyard-liberty-shelvesSadly, the few voices that are proclaiming the warning message in our society are being almost completely drowned out by everyone else.

Just look at our political leaders.  None of them are warning the American people about what is really coming.  Yes, they are warning that some bad things may happen if the wrong candidate gets elected, but all of them are promising that they can get this country completely turned around if they are elected.

Unfortunately, all of them are dead wrong.  None of them are going to be able to keep America from experiencing the great storm that is directly ahead of us.

The mainstream media is even worse.  According to the mainstream media, everything is great and things are only going to get even better in the years ahead.  Of course the mainstream media is owned and controlled by the global elite, and just six giant media corporations produce more than 90 percent of the news and entertainment that we all consume.

Perhaps most disappointing of all are the religious leaders.  You would think that if anyone should be “sounding the alarm” it would be them.  But instead, ministers all over this country have become absolutely terrified of offending anyone.  Church attendance has been declining for years, and most churches are desperate to do whatever they can to keep people coming back and putting money in the offering plate.

So many preachers know what is coming, and yet they have willingly chosen to be silent.  They know that disaster is coming to America, and yet they have decided not to warn the people.

Yes, there are some good churches out there, but in general the church in America has failed.  There is very little preaching about sin, repentance or the blood of Jesus anymore.  Rather, most of what is coming from the pulpits these days are just feel good messages that sound like they were directly ripped off from the self-help gurus.

Sometimes I get frustrated because I wish that I could do a better job of warning the people.  My articles are far from perfect, but I work very hard on them.  And nobody can accuse me of not trying to sound the alarm.  I have written more than a million words on The Economic Collapse Blog, and I have written more than a million words on End Of The American Dream.  In addition, soon my wife and I will be doing a television show, and we will be posting the videos up on YouTube for free.

I am just an ordinary guy that is trying to warn the people as loudly as I can from my little spot on the wall.  When I first started, my readership could have been measured with a microscope, but over time it has grown far beyond what I could have possibly ever imagined.

People know that they aren’t getting the truth from the “leaders” of our society, and so they are seeking out alternative sources of information.  Thankfully, the Internet has allowed ordinary people like myself and others to get the warning message out.

And of course the warning message is only part of my mission.  I also carry a message of hope, and that is going to be greatly needed in the days ahead.

As things completely fall apart during the years to come, millions are going to give in to depression and despair.  Those people are going to need to know that there is hope even in the midst of all the chaos and all the darkness.  My wife and I seek to live in a constant state of “shalom” (the Hebrew word for peace), and we believe that the greatest chapters of our lives are still ahead of us.  Yes, we are heading for times that are going to be more challenging than most people would ever dare to imagine, but there is no other time in human history that we would have rather been alive for.  We boldly look forward to the future, and we plan to bring light to a world that will be drowning in darkness.

usc66This optimistic view of the future is going to be a central theme of my new book which should be coming out later this month.  The things that I am going to share about Bible prophecy, the book of Revelation and the challenging years ahead of us are going to really shake up a lot of people out there, and it will likely be one of the most controversial Christian books of 2016.

But once again, someone needs to stand up and say the hard things that need to be said.

I am sure that I will get some criticism for this article, but that is okay.  I just hope that I can inspire a few others to come up on the wall and help warn America (and the world) about what is rapidly approaching.

It doesn’t matter if your voice is big or small.

What matters is whether or not you are faithful with what you have been given.

Let us sound the alarm while we still can, because time is quickly running out.

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Prepare Your Homes And Neighborhoods For The Violence That Is Going To Sweep America

source: theeconomiccollapseblog.com

This Is How Government Dealt With Dissent And Revolt – “Soldiers Shooting Civilians In The Streets, Paramilitaries Roaming Neighborhoods”

Venezuela is in complete chaos as a result of their economic collapse.

And as a result, state-rationed food and groceries have run out, prices are hyper-inflated and millions of people are waiting in huge lines for any goods that are available. Black markets have gone boom, with neighbors making necessities available to other neighbors, but they must avoid crackdown from a jealous State that is desperate to hang onto power.

backyard-liberty-shelvesThe free-fall of oil prices on the global stage has snapped the South American socialist nation into sudden and harsh disaster. Venezuela has slightly more oil than Saudi Arabia, and trades the second largest volume, after OPEC, and was even more vulnerable than Russia to the economic warfare that has taken place in the last few years.

Things are very bad now, and they were already falling apart. Nicolas Maduro took over after Hugo Chavez’ death in 2013, but without the force of Chavez’ cult of personality, he has been unable to hold an already unrealistic economy together any longer – and the people are on the verge of complete revolt.

*Editor’s Note: The following reports were taken in 2014 but are as relevant to the conversation today as they were then*

This is what happened to dissenters and so-called agitators in collapsing Venezuela… Could the same be coming to America?

With state control of the media in Venezuela, and an unwillingness to report on the part of the international press, it is difficult to know all the facts. Indeed these developments have gone virtually unreported, but some of it has surfaced on YouTube.

The Caracas Chronicles is one of the rare sources to report what is really happening:

What we saw were not “street clashes”, what we saw is a state-hatched offensive to suppress and terrorize its opponents.

[…]

Throughout last night, panicked people told their stories of state-sponsored paramilitaries on motorcycles roaming middle class neighborhoods, shooting at people and  storming into apartment buildings, shooting at anyone who seemed like he might be protesting.

People continue to be arrested merely for protesting, and a long established local Human Rights NGO makes an urgent plea for an investigation into widespread reports of torture of detainees. There are now dozens of serious human right abuses: National Guardsmen shooting tear gas canisters directly into residential buildings. We have videos of soldiers shooting civilians on the street.

And that’s just what came out in real time, over Twitter and YouTube, before any real investigation is carried out. Online media is next, a city of 645,000 inhabitants has been taken off the internet amid mounting repression, and this blog itself has been the object of a Facebook “block” campaign.

The crack down on the population of Venezuela is truly massive and very chaotic, as much of the footage shows.

usc9

Raw footage on YouTube (warning: some footage is graphic):


This video purportedly shows pro-government militia squads firing tear gas into residential apartment buildings:

Is this how things will go down in the United States in the aftermath of the planned collapse of the economy and the destruction of the American standards of living?

Though Venezuela seems world’s apart from the events in the United States, this same level of unrest can grow quickly along the lines of division that have been sharpening under President Obama’s two terms and the false “recovery” imposed by bankers intent on bringing everyone to their knees.

For now, the biggest difference is that Americans still have their guns, and the militia are still of, by and for the people.

Stay prepared, and stay vigilant!

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US ‘expels’ three Venezuelan diplomats in possible retaliation

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Editor’ Note: The initial report about this incident was printed in error. While the videos and images below were believed to be recently recorded, several readers contacted us to report that these incidents occurred in February 2014 and not February 2016. 

We have modified portions of this article but have left the majority of this report intact. In terms of possible responses and consequences of economic collapse in the United States, Europe and elsewhere, the events in Venezuela could happen anywhere when governments lose control of the populace.

source: www.shtfplan.com

www.patriotnetdaily.com

Donald Trump Is Right – Here Are 100 Reasons Why We Need To Audit The Federal Reserve

When one of our major politicians gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct.  Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama.  Financial markets all over the planet gyrate wildly at the smallest comment from Fed officials, and virtually every boom and bust cycle over the past 100 years can be traced directly back to specific decisions made by the Federal Reserve.  We get usc13all excited about what various presidential candidates say that they “will do for the economy”, but in the end it is the Fed that is holding all of the cards.  The funny thing is that the Federal Reserve is not even part of the federal government.  It is an independent private central bank that was designed by very powerful Wall Street interests a little over 100 years ago.  It is at the heart of the debt-based financial system which is eating away at America like cancer, and it has no direct accountability to the American people whatsoever.

The Fed has been around for so long that most people assume that we need it.

But the truth is that we don’t actually need the Federal Reserve.  In fact, the greatest period of economic growth in United States history happened during the decades before the Federal Reserve was created.

A little over 100 years ago, very powerful forces on Wall Street successfully pushed for the creation of an immensely powerful central bank, and since that time the value of the U.S. dollar has fallen by about 98 percent and our national debt has gotten more than 5000 times larger.

The Federal Reserve does whatever it feels like doing, and Fed officials insist that the institution must remain “independent” and “above politics” because monetary policy is too important to entrust to the American people.

To me, this is absolutely ridiculous.  Everything else, including our national defense, is subject to the normal political process, and yet the decisions made by the Fed are so “important” that the American people can’t have a voice?

It is high time that the American people begin to learn what the Federal Reserve is really all about, and that can start with a full, comprehensive audit of all of the Federal Reserve’s activities.  Yesterday, Donald Trump came out in favor of such an audit…

trump-federal reserve

Previously, Trump has made quite a few comments that were very critical of the Fed.  For example, last year he told Bloomberg News that he believed that the Federal Reserve was “creating a bubble”…

“In terms of real estate, if I want to develop … from that standpoint I like low interest rates. From the country’s standpoint, I’m just not sure it’s a very good thing, because I really do believe we’re creating a bubble.”

And of course Trump was exactly right about that too.  By pushing interest rates to artificially low levels and creating billions upon billions of dollars out of thin air during the quantitative easing era, stock prices were driven to ridiculously high levels.  Now that the artificial support has been withdrawn, stocks are beginning to crash, and the financial collapse which is starting to happen is going to be far worse than it otherwise would have been because of the Fed’s actions.  The following comes from one of my previous articles

As stocks continue to crash, you can blame the Federal Reserve, because the Fed is more responsible for creating the current financial bubble that we are living in than anyone else.  When the Federal Reserve pushed interest rates all the way to the floor and injected lots of hot money into the financial markets during their quantitative easing programs, this pushed stock prices to wildly artificial levels.  The only way that it would have been possible to keep stock prices at those wildly artificial levels would have been to keep interest rates ultra-low and to keep recklessly creating lots of new money.  But now the Federal Reserve has ended quantitative easing and has embarked on a program of very slowly raising interest rates.  This is going to have very severe consequences for the markets, but Janet Yellen doesn’t seem to care.

usc9

I don’t understand why so many Americans continue to support the Federal Reserve.

We don’t need a bunch of central planners setting interest rates and determining monetary policy.  We are supposed to have a free market system, and the free market should be setting interest rates – not the Federal Reserve.

Unfortunately, just about every nation on the entire planet now has a central bank.  Even though the nations of the world can’t agree on much, somehow central banking has been adopted virtually everywhere.  At this point, more than 99.9% of the population of the world lives in a country that has a central bank.

There are still some minor island countries such as the Federated States of Micronesia that do not have a central bank, but the only major nation not to have one right now is North Korea.  And nobody in their right mind would ever want to live there.

So how in the world did this happen?

Did the people of the world willingly choose this debt-based system or was it imposed upon them?

To my knowledge, there has never been a single vote where the population of a nation has willingly chosen to establish a central bank.  I could be wrong about this, but I have never heard of one.

It is the elite that have always wanted central banking, and now they pretty much have the entire planet in their grasp.

That is why we should applaud Donald Trump when he stands up to the elite.  And it isn’t just regarding the Fed that he has done this.  The following comes from an excellent article that was just written by Dan Lyman

Ultimately, Trump knows it is the global elite who have pried our borders wide open. He knows it is THEY who are responsible for the tens of millions of Third Worlders pouring into our nations. He knows that THEY are the monsters who need the world to be constantly at war. He knows THEY are radically altering our food supply with GMOs and poisonous chemicals. He knows THEY are responsible for poisoning our drinking water, filling our skies and air supplies with toxic waste, genociding our unborn children, collecting data on all citizens to implement the Orwellian police state, forcing poison into our babies’ veins – and soon the rest of us, redistributing what remains of our wealth under the guises of ‘saving the planet’ or ‘refugee aid,’ allowing and funding the ISIS Islamofascists to decimate places like Syria and Iraq in Satanic fashion, promoting the psychotic LGBT Nazis to goose-step all over our religious liberties and gender-privacy in school bathrooms. If there is a societal cancer metastasizing somewhere, it can usually be traced back to the same sources.

Yes, there are many things that we can criticize Trump and the other Republican candidates for.  But when they nail something, we should be willing to admit that they got something right.

In this case, Donald Trump is absolutely correct to call for an audit of the Fed.  As I promised in the title of this article, I want to share 100 reasons why the Fed should be audited.  The following list has been adapted from one of my previous articles

http://730aaj-f-wvdm73p79q4fj6qc6.hop.clickbank.net/?tid=pnda#1 We like to think that we have a government “of the people, by the people, for the people”, but the truth is that an unelected, unaccountable group of central planners has far more power over our economy than anyone else in our society does.

#2 The Federal Reserve is actually “independent” of the government. In fact, the Federal Reserve has argued vehemently in federal court that it is “not an agency” of the federal government and therefore not subject to the Freedom of Information Act.

#3 The Federal Reserve openly admits that the 12 regional Federal Reserve banks are organized “much like private corporations“.

#4 The regional Federal Reserve banks issue shares of stock to the “member banks” that own them.

#5 100% of the shareholders of the Federal Reserve are private banks. The U.S. government owns zero shares.

#6 The Federal Reserve is not an agency of the federal government, but it has been given power to regulate our banks and financial institutions. This should not be happening.

#7 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. So why is the Federal Reserve doing it?

#8 If you look at a “U.S. dollar”, it actually says “Federal Reserve note” at the top. In the financial world, a “note” is an instrument of debt.

#9 In 1963, President John F. Kennedy issued Executive Order 11110 which authorized the U.S. Treasury to issue “United States notes” which were created by the U.S. government directly and not by the Federal Reserve. He was assassinated shortly thereafter.

#10 Many of the debt-free United States notes issued under President Kennedy are still in circulation today.

#11 The Federal Reserve determines what levels some of the most important interest rates in our system are going to be set at. In a free market system, the free market would determine those interest rates.

#12 The Federal Reserve has become so powerful that it is now known as “the fourth branch of government“.

#13 The greatest period of economic growth in U.S. history was when there was no central bank.

#14 The Federal Reserve was designed to be a perpetual debt machine. The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape. Since the Federal Reserve was established 100 years ago, the U.S. national debt has gotten more than 5000 times larger.

#15 A permanent federal income tax was established the exact same year that the Federal Reserve was created. This was not a coincidence. In order to pay for all of the government debt that the Federal Reserve would create, a federal income tax was necessary. The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.

#16 The period prior to 1913 (when there was no income tax) was the greatest period of economic growth in U.S. history.

#17 Today, the U.S. tax code is about 13 miles long.

#18 From the time that the Federal Reserve was created until now, the U.S. dollar has lost 98 percent of its value.

#19 From the time that President Nixon took us off the gold standard until now, the U.S. dollar has lost 83 percent of its value.

#20 During the 100 years before the Federal Reserve was created, the U.S. economy rarely had any problems with inflation. But since the Federal Reserve was established, the U.S. economy has experienced constant and never ending inflation.

#21 In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent. In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent.

#22 The Federal Reserve has stripped the middle class of trillions of dollars of wealth through the hidden tax of inflation.

#23 The size of M1 has nearly doubled since 2008 thanks to the reckless money printing that the Federal Reserve has been doing.

#24 The Federal Reserve has been starting to behave like the Weimar Republic, and we all remember how that ended.

#25 The Federal Reserve has been consistently lying to us about the level of inflation in our economy. If the inflation rate was still calculated the same way that it was back when Jimmy Carter was president, the official rate of inflation would be somewhere between 8 and 10 percent today.

#26 Since the Federal Reserve was created, there have been 18 distinct recessions or depressions: 1918, 1920, 1923, 1926, 1929, 1937, 1945, 1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001, 2008.

#27 Within 20 years of the creation of the Federal Reserve, the U.S. economy was plunged into the Great Depression.

#28 The Federal Reserve created the conditions that caused the stock market crash of 1929, and even Ben Bernanke admits that the response by the Fed to that crisis made the Great Depression even worse than it should have been.

#29 The “easy money” policies of former Fed Chairman Alan Greenspan set the stage for the great financial crisis of 2008.

#30 Without the Federal Reserve, the “subprime mortgage meltdown” would probably never have happened.

#31 If you can believe it, there have been 10 different economic recessions since 1950. The Federal Reserve created the “dotcom bubble”, the Federal Reserve created the “housing bubble” and now it has created the largest bond bubble in the history of the planet.

#32 According to an official government report, the Federal Reserve made 16.1 trillion dollars in secret loans to the big banks during the last financial crisis. The following is a list of loan recipients that was taken directly from page 131 of the report…

Citigroup – $2.513 trillion
Morgan Stanley – $2.041 trillion
Merrill Lynch – $1.949 trillion
Bank of America – $1.344 trillion
Barclays PLC – $868 billion
Bear Sterns – $853 billion
Goldman Sachs – $814 billion
Royal Bank of Scotland – $541 billion
JP Morgan Chase – $391 billion
Deutsche Bank – $354 billion
^333186B9714A2F740E7FBFA76B6B3E5985E5288C2889E44366^pimgpsh_fullsize_distrUBS – $287 billion
Credit Suisse – $262 billion
Lehman Brothers – $183 billion
Bank of Scotland – $181 billion
BNP Paribas – $175 billion
Wells Fargo – $159 billion
Dexia – $159 billion
Wachovia – $142 billion
Dresdner Bank – $135 billion
Societe Generale – $124 billion
“All Other Borrowers” – $2.639 trillion

#33 The Federal Reserve also paid those big banks $659.4 million in “fees” to help “administer” those secret loans.

#34 During the last financial crisis, big European banks were allowed to borrow an “unlimited” amount of money from the Federal Reserve at ultra-low interest rates.

#35 The “easy money” policies of Federal Reserve Chairman Ben Bernanke have created the largest financial bubble this nation has ever seen, and this has set the stage for the great financial crisis that we are rapidly approaching.

#36 Since late 2008, the size of the Federal Reserve balance sheet has grown from less than a trillion dollars to more than 4 trillion dollars. This is complete and utter insanity.

#37 During the quantitative easing era, the value of the financial securities that the Fed has accumulated is greater than the total amount of publicly held debt that the U.S. government accumulated from the presidency of George Washington through the end of the presidency of Bill Clinton.

#38 Overall, the Federal Reserve now holds more than 32 percent of all 10 year equivalents.

#39 Quantitative easing creates financial bubbles, and when quantitative easing ends those bubbles tend to deflate rapidly.

#40 Most of the new money created by quantitative easing has ended up in the hands of the very wealthy.

#41 According to a prominent Federal Reserve insider, quantitative easing has been one giant “subsidy” for Wall Street banks.

#42 As one CNBC article stated, we have seen absolutely rampant inflation in “stocks and bonds and art and Ferraris“.

#43 Donald Trump once made the following statement about quantitative easing: “People like me will benefit from this.

#44 Most people have never heard about this, but a very interesting study conducted for the Bank of England shows that quantitative easing actually increases the gap between the wealthy and the poor.

#45 The gap between the top one percent and the rest of the country is now the greatest that it has been since the 1920s.

#46 The mainstream media has sold quantitative easing to the American public as an “economic stimulus program”, but the truth is that the percentage of Americans that have a job has actually gone down since quantitative easing first began.

#47 The Federal Reserve is supposed to be able to guide the nation toward “full employment”, but the reality of the matter is that an all-time record 102 million working age Americans do not have a job right now. That number has risen by about 27 million since the year 2000.

#48 For years, the projections of economic growth by the Federal Reserve have consistently overstated the strength of the U.S. economy. But every single time, the mainstream media continues to report that these numbers are “reliable” even though all they actually represent is wishful thinking.

#49 The Federal Reserve system fuels the growth of government, and the growth of government fuels the growth of the Federal Reserve system. Since 1970, federal spending has grown nearly 12 times as rapidly as median household income has.

#50 The Federal Reserve is supposed to look out for the health of all U.S. banks, but the truth is that they only seem to be concerned about the big ones. In 1985, there were more than 18,000 banks in the United States. Today, there are only 6,891 left.

#51 The six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years.

#52 The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.

#53 The five largest banks now account for 42 percent of all loans in the United States.

#54 We were told that the purpose of quantitative easing was to help “stimulate the economy”, but today the Federal Reserve is actually paying the big banks not to lend out 1.8 trillion dollars in “excess reserves” that they have parked at the Fed.

#55 The Federal Reserve has allowed an absolutely gigantic derivatives bubble to inflate which could destroy our financial system at any moment. Right now, four of the “too big to fail” banks each have total exposure to derivatives that is well in excess of 40 trillion dollars.

#56 The total exposure that Goldman Sachs has to derivatives contracts is more than 381 times greater than their total assets.

#57 Federal Reserve Chairman Ben Bernanke has a track record of failure that would make the Chicago Cubs look good.

#58 The secret November 1910 gathering at Jekyll Island, Georgia during which the plan for the Federal Reserve was hatched was attended by U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and a whole host of representatives from the upper crust of the Wall Street banking establishment.

#59 The Federal Reserve was created by the big Wall Street banks and for the benefit of the big Wall Street banks.

#60 In 1913, Congress was promised that if the Federal Reserve Act was passed that it would eliminate the business cycle.

#61 There has never been a true comprehensive audit of the Federal Reserve since it was created back in 1913.

#62 The Federal Reserve system has been described as “the biggest Ponzi scheme in the history of the world“.

#63 The following comes directly from the Fed’s official mission statement: “To provide the nation with a safer, more flexible, and more stable monetary and financial system.” Without a doubt, the Federal Reserve has failed in those tasks dramatically.

#64 The Fed decides what the target rate of inflation should be, what the target rate of unemployment should be and what the size of the money supply is going to be. This is quite similar to the “central planning” that goes on in communist nations, but very few people in our government seem upset by this.

#65 A couple of years ago, Federal Reserve officials walked into one bank in Oklahoma and demanded that they take down all the Bible verses and all the Christmas buttons that the bank had been displaying.

#66 The Federal Reserve has taken some other very frightening steps in recent years. For example, back in 2011 the Federal Reserve announced plans to identify “key bloggers” and to monitor “billions of conversations” about the Fed on Facebook, Twitter, forums and blogs. Someone at the Fed will almost certainly end up reading this article.

#67 Thanks to this endless debt spiral that we are trapped in, a massive amount of money is transferred out of our pockets and into the pockets of the ultra-wealthy each year. Incredibly, the U.S. government spent more than 415 billion dollars just on interest on the national debt in 2013.

#68 In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, we would be paying more than a trillion dollars a year just in interest on the national debt and it would collapse our entire financial system.

#69 The American people are being killed by compound interest but most of them don’t even understand what it is. Albert Einstein once made the following statement about compound interest…

Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

#70 Most Americans have absolutely no idea where money comes from. The truth is that the Federal Reserve just creates it out of thin air. The following is how I have previously described how money is normally created by the Fed in our system…

When the U.S. government decides that it wants to spend another billion dollars that it does not have, it does not print up a billion dollars.

Rather, the U.S. government creates a bunch of U.S. Treasury bonds (debt) and takes them over to the Federal Reserve.

The Federal Reserve creates a billion dollars out of thin air and exchanges them for the U.S. Treasury bonds.

#71 What does the Federal Reserve do with those U.S. Treasury bonds? They end up getting auctioned off to the highest bidder. But this entire process actually creates more debt than it does money…

The U.S. Treasury bonds that the Federal Reserve receives in exchange for the money it has created out of nothing are auctioned off through the Federal Reserve system.

But wait.

There is a problem.

Because the U.S. government must pay interest on the Treasury bonds, the amount of debt that has been created by this transaction is greater than the amount of money that has been created.

So where will the U.S. government get the money to pay that debt?

Well, the theory is that we can get money to circulate through the economy really, really fast and tax it at a high enough rate that the government will be able to collect enough taxes to pay the debt.

But that never actually happens, does it?

And the creators of the Federal Reserve understood this as well. They understood that the U.S. government would not have enough money to both run the government and service the national debt. They knew that the U.S. government would have to keep borrowing even more money in an attempt to keep up with the game.

#72 Of course the U.S. government could actually create money and spend it directly into the economy without the Federal Reserve being involved at all. But then we wouldn’t be 17 trillion dollars in debt and that wouldn’t serve the interests of the bankers at all.

#73 The following is what Thomas Edison once had to say about our absolutely insane debt-based financial system…

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt.

Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.

But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.

#74 The United States now has the largest national debt in the history of the world, and we are stealing roughly 100 million dollars from our children and our grandchildren every single hour of every single day in a desperate attempt to keep the debt spiral going.

#75 Thomas Jefferson once stated that if he could add just one more amendment to the U.S. Constitution it would be a ban on all government borrowing

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

#76 At this moment, the U.S. national debt is sitting at $18,141,409,083,212.36. If we had followed the advice of Thomas Jefferson, it would be sitting at zero.

#77 When the Federal Reserve was first established, the U.S. national debt was sitting at about 2.9 billion dollars. On average, we have been adding more than that to the national debt every single day since Obama has been in the White House.

#78 We are on pace to accumulate more new debt during the 8 years of the Obama administration than we did under all of the other presidents in all of U.S. history combined.

#79 If all of the new debt that has been accumulated since John Boehner became Speaker of the House had been given directly to the American people instead, every household in America would have been able to buy a new truck.

#80 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.

#81 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 102.98 percent.

#82 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.

#83 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.

#84 As I have written about previously, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.

#85 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

#86 Sometimes we forget just how much money a trillion dollars is. If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.

#87 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

#88 In addition to all of our debt, the U.S. government has also accumulated more than 200 trillion dollars in unfunded liabilities. So where in the world will all of that money come from?

#89 The greatest damage that quantitative easing has been causing to our economy is the fact that it is destroying worldwide faith in the U.S. dollar and in U.S. debt. If the rest of the world stops using our dollars and stops buying our debt, we are going to be in a massive amount of trouble.

#90 Over the past several years, the Federal Reserve has been monetizing a staggering amount of U.S. government debt even though Ben Bernanke once promised that he would never do this.

#91 China recently announced that they are going to quit stockpiling more U.S. dollars. If the Federal Reserve was not recklessly printing money, this would probably not have happened.

#92 Most Americans have no idea that one of our most famous presidents was absolutely obsessed with getting rid of central banking in the United States. The following is a February 1834 quote by President Andrew Jackson about the evils of central banking…

I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. You tell me that if I take the deposits from the Bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out and, by the Eternal, (bringing his fist down on the table) I will rout you out.

#93 There are plenty of possible alternative financial systems, but at this point all 187 nations that belong to the IMF have a central bank. Are we supposed to believe that this is just some sort of a bizarre coincidence?

#94 The capstone of the global central banking system is an organization known as the Bank for International Settlements. The following is how I described this organization in a previous article

An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe. It is called the Bank for International Settlements, and it is the central bank of central banks. It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City. It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws. Even Wikipedia admits that “it is not accountable to any single national government.” The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system. Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does. Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”. During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on. The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.

#95 The borrower is the servant of the lender, and the Federal Reserve has turned all of us into debt slaves.

#96 Debt is a form of social control, and the global elite use all of this debt to dominate all the rest of us. 40 years ago, the total amount of debt in our system (all government debt, all business debt, all consumer debt, etc.) was sitting at about 3 trillion dollars. Today, the grand total is approaching 60 trillion dollars.

#97 Unless something dramatic is done, our children and our grandchildren will be debt slaves for their entire lives as they service our debts and pay for our mistakes.

#98 Now that you know this information, you are responsible for doing something about it.

#99 Congress has the power to shut down the Federal Reserve any time that it would like. But right now most of our politicians fully endorse the current system, and nothing is ever going to happen until the American people start demanding change.

#100 The design of the Federal Reserve system was flawed from the very beginning. If something is not done very rapidly, it is inevitable that our entire financial system is going to suffer an absolutely nightmarish collapse.

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Bernie Sanders: We Need A “Full and Independent Audit of the” Federal Reserve

The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives

Busted: Federal Reserve Investigation: 46 Hours Of Secret Recordings Exposes Federal Reserve (Video)

The Federal Reserve Is Monetizing A Staggering Amount Of U.S. Government Debt

Federal Reserve Whistleblower Tells America The REAL Reason For Quantitative Easing

New record: Federal Reserve owes more than $2 trillion in US debt

Question: Do We Need ALL Of The Federal Agencies Listed Below?

The Federal Octopus Federal agencies now exist not for the public good but for their employees’ benefit and Obama’s agenda

United States Of SWAT: Military-Style Units From Government Agencies Terrorizing Non-Violent Citizens

Intelligence agencies want ‘all the phone records,’ defend surveillance programs

Multiple Government Agencies Are Keeping Records Of Your Credit Card Transactions

Executive Order: “Obama and His Fellow Communists Can Seize Any Resource, Property, or Person At Any Time For Any Reason”

Big Government Pushing For Smart Meters Once Again, Will Your Home Be Monitored?

NASA-It Is Really About To Happen! The BIG Secret They Do Not Want You To Know! (Video)

10 Ways To Protect Your Privacy

RFID Implanted Chips In Pets and People: The Risk To Privacy

source: theeconomiccollapseblog.com

www.patriotnetdaily.com

Cashless Crisis: “With Digital Payments, Civilization Comes To An End Until Power is Restored”

The coming brave new world may also be a fragile one.

As most of the Western world is pushed into abandoning cash and embracing a fully digital cashless grid, it is apparent how vulnerable populations will become in times of crisis.

If the power grid were to go down in a storm or an attack, it is readily apparent that the system of commerce would go down with it; payments would stop and desperate people would line up for help. Those with their own supplies, barter items and physical commodities will remain the most comfortable, but the very fabric of society could come unglued.

emp nsWill they really ban cash when so much could go wrong?

Paul-Martin Foss writes for the Carl Menger Center:

Cash is being displaced by credit and debit cards, which are themselves beginning to be displaced by new digital currencies and payment systems

But despite all the advances brought about by the digital revolution, there are still quite a few drawbacks. The most obvious is that it is reliant on electricity. One major hurricane knocking out power, a mid-summer brownout, or a hacker attack on the power grid could bring commerce to a halt. With cash, transactions are still possible. With digital payments, civilization comes to an end until power is restored. Unless you have food stored or goods with which to barter, you’re out of luck. Just imagine a city like New York with no power and no way to buy or sell anything. It won’t be pretty.

[…]

With digital currencies such as Bitcoin, there is the problem that they are created out of thin air. One bitcoin represents the successful completion of a cryptographic puzzle, but all that means is that some computing power was used up to create a unique electronic file. That’s all it is, just a series of ones and zeros. There is nothing tangible about Bitcoin and, indeed, if you lose the hard drive on which you stored your bitcoins, those bitcoins are lost forever.

On top of that, the potential for manipulation and the built-in assault of surveillance and tracking is enough to cripple liberties in the world that is cementing its patterns around this new technology.

What happens when online platforms don’t like your speech or your rights? What happens if their policy blocks you from buying something – like a gun – that you have the right to buy, or prevents you from spending your money, potentially freezing your account without notice. Again, the Menger Center makes the point:

Take a look at PayPal, for instance. PayPal’s terms of service forbid use of the service to buy or sell firearms, firearms parts, or firearms accessories. Many individuals who have used PayPal to sell firearms parts find their accounts frozen or shut down by PayPal. Similar things have happened to gun stores having their bank accounts frozen or having their credit card payment processors refuse to process…

[…]

Cases such as this will only be more widespread in the future, especially as governments continue to pursue the war on cash. If cash is eliminated and electronic systems become the only way anyone can pay for anything, all it will take is a little bit of government pressure on payment system operators to stop processing payments for X or Y and voila, you can longer buy X or Y. What good is money in the bank if you can’t use it to buy what you want? In fact, governments may dispense with pressure on payment systems and just monitor transactions as they occur, automatically rejecting payments for goods they don’t want …

Every transaction made electronically can be tracked and traced. If every purchase you make is done electronically, your entire purchase history is open to scrutiny.

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The powerful banking lobby, of course, wants a digital cashless system, because it will enrich them with transaction fees and penalties, continue and expand fractional reserve lending, and give them the power to monitor all the transactions, at detailed levels with data for every purchase. But despite this monitoring, money and transactions will not necessarily be more secure.

You cannot “hold” your money, you must be able to access it, and that depends upon authorization of the system. It can be hacked or erased in a split second.

Can you keep the financial system from limiting your rights and invading your privacy?

And how would America under the digital grid – perhaps 10x worse than Greece when the ATMs are shut down, the banks closed, the grid off and cash eradicated, while the population is forced under the yoke.

Not only is this grid vulnerable, but it is also becoming unavoidable.

The Beast System Arises: The Largest Bank In Norway Calls For The Elimination Of Cash

The Necessity of Liquidity in an Increasingly Cashless Society

Survival Cash For After The Disaster – Cash will be King

Chase Bank Riverside, CA, Does Not Accept Cash! Unless You Bank With Them?

As cities become more strapped for cash, they will turn to desperate measures to ‘stay alive’

Banks Have Almost Zero Cash: Prepare To Lose Your Savings

Cash Money Beats Electronic Money After The Disaster -For Awhile

Survival on a Budget: 10 Easy Ways to Earn and Save Extra Cash

source: www.shtfplan.com

www.patriotnetdaily.com

22 Signs That The Global Economic Turmoil We Have Seen So Far In 2016 Is Just The Beginning

As bad as the month of January was for the global economy, the truth is that the rest of 2016 promises to be much worse.  Layoffs are increasing at a pace that we haven’t seen since the last recession, major retailers are shutting down hundreds of locations, corporate profit margins are plunging, global trade is slowing down dramatically, and several major European banks are in the process of completely imploding.  I am about to share some numbers with you that are truly eye-popping.  Each one by itself would be reason for concern, but when you put all of the pieces together it creates a picture that is hard to deny.  The global economy is in crisis, and this is going to have very serious implications for the financial markets moving forward.  U.S. stocks just had their worst January in seven years, and if I am right much worse is still yet to come this year.  The following are 22 signs that the global economic turmoil that we have seen so far in 2016 is just the beginning…

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1. The number of job cuts in the United States skyrocketed 218 percent during the month of January according to Challenger, Gray & Christmas.

2. The Baltic Dry Index just hit yet another brand new all-time record low.  As I write this article, it is sitting at 303.

3. U.S. factory orders have now dropped for 14 months in a row.

4. In the U.S., the Restaurant Performance Index just fell to the lowest level that we have seen since 2008.

5. In January, orders for class 8 trucks (the big trucks that you see shipping stuff around the country on our highways) declined a whopping 48 percent from a year ago.

6. Rail traffic is also slowing down substantially.  In Colorado, there are hundreds of train engines that are just sitting on the tracks with nothing to do.

7. Corporate profit margins peaked during the third quarter of 2014 and have been declining steadily since then.  This usually happens when we are heading into a recession.

8. A series of extremely disappointing corporate quarterly reports is sending stock after stock plummeting.  Here is a summary from Zero Hedge of a few examples that we have just witnessed…

  • SHARES OF LIONS GATE ENTERTAINMENT FALL 5 PCT IN EXTENDED TRADE AFTER QUARTERLY RESULTS – RTRS
  • TABLEAU SOFTWARE SHARES TUMBLE 40 PCT IN AFTER HOURS TRADING – RTRS
  • YRC WORLDWIDE SHARES DOWN 16.4 PCT AFTER THE BALL FOLLOWING RESULTS – RTRS
  • SPLUNK INC SHARES DOWN 7.6 PCT IN AFTER HOURS TRADING – RTRS
  • LINKEDIN SHARES EXTEND DECLINE, DOWN 24 PCT AFTER RESULTS, GUIDANCE – RTRS
  • HANESBRANDS SHARES FURTHER ADD TO LOSSES IN EXTENDED TRADE, LAST DOWN 14.9 PCT – RTRS
  • OUTERWALL SHARES FALL 11 PCT IN EXTENDED TRADING AFTER QUARTERLY RESULTS – RTRS
  • GENWORTH SHARES DOWN 16.5 PCT AFTER THE BELL FOLLOWING RESULTS, RESTRUCTURING PLAN

9. Junk bonds continue to crash on Wall Street.  On Monday, JNK was down to 32.60 and HYG was down to 77.99.

10. On Thursday, a major British news source publicly named five large European banks that are considered to be in very serious danger…

Deutsche Bank, Credit Suisse, Santander, Barclays and RBS are among the stocks that are falling sharply sending shockwaves through the financial world, according to former hedge fund manager and ex Goldman Sachs employee Raoul Pal.

11. Deutsche Bank is the biggest bank in Germany and it has more exposure to derivatives than any other bank in the world.  Unfortunately, Deutsche Bank credit default swaps are now telling us that there is deep turmoil at the bank and that a complete implosion may be imminent.

12. Last week, we learned that Deutsche Bank had lost a staggering 6.8 billion euros in 2015.  If you will recall, I warned about massive problems at Deutsche Bank all the way back in September.  The most important bank in Germany is exceedingly troubled, and it could end up being for the EU what Lehman Brothers was for the United States.

http://730aaj-f-wvdm73p79q4fj6qc6.hop.clickbank.net/?tid=pnda13. Credit Suisse just announced that it will be eliminating 4,000 jobs.

14. Royal Dutch Shell has announced that it is going to be eliminating 10,000 jobs.

15. Caterpillar has announced that it will be closing 5 plants and getting rid of 670 workers.

16. Yahoo has announced that it is going to be getting rid of 15 percent of its total workforce.

17. Johnson & Johnson has announced that it is slashing its workforce by 3,000 jobs.

18. Sprint just laid off 8 percent of its workforce and GoPro is letting go 7 percent of its workers.

19. All over America, retail stores are shutting down at a staggering pace.  The following list comes from one of my previous articles

-Wal-Mart is closing 269 stores, including 154 inside the United States.

-K-Mart is closing down more than two dozen stores over the next several months.

-J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.

-Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.

-The Gap is in the process of closing 175 stores in North America.

-Aeropostale is in the process of closing 84 stores all across America.

-Finish Line has announced that 150 stores will be shutting down over the next few years.

-Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.

20. According to the New York Times, the Chinese economy is facing a mountain of bad loans that “could exceed $5 trillion“.

21. Japan has implemented a negative interest rate program in a desperate attempt to try to get banks to make more loans.

22. The global economy desperately needs the price of oil to go back up, but Morgan Stanley says that we will not see $80 oil again until 2018.

It is not difficult to see where the numbers are trending.

Last week, I told my wife that I thought that Marco Rubio was going to do better than expected in Iowa.

How did I come to that conclusion?

It was simply based on how his poll numbers were trending.

And when you look at where global economic numbers are trending, they tell us that 2016 is going to be a year that is going to get progressively worse as it goes along.

So many of the exact same things that we saw happen in 2008 are happening again right now, and you would have to be blind not to see it.

Hopefully I am wrong about what is coming in our immediate future, because millions upon millions of Americans are not prepared for what is ahead, and most of them are going to get absolutely blindsided by the coming crisis.

Alarm Bells Go Off As 11 Critical Indicators Scream The Global Economic Crisis Is Getting Deeper

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Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent?

The Economic Crisis Is Accelerating Because Debt Is Not Wealth

Preparing For A Long Term Economic Depression

“Conquering the Coming Collapse” – Real, Proven Survival Strategies When Money Turns Into Dust

8 Lessons Learned From The Great Depression

DHS Insider: Crisis Of Unprecedented Magnitude To Strike U.S.

The Public Theft of Private Assets Always Precedes An Economic Collapse and That Time Is Upon Us

Food and the Danger of Economic Collapse

Is A ‘Partial’ Economic Collapse Possible? Economic Thread

Will YOU Be Homeless After The Economic Collapse?

The Economic Collapse Warning Sign You Need To Know

The Coming U.S. Economic Collapse Will Trigger a Revolution

How to Survive and Thrive in the City After the Economic Collapse

Legendary Business Owner Warns Of Economic Collapse

source: theeconomiccollapseblog.com

www.patriotnetdaily.com

The American Dream Is Dead, And Now Even The Mainstream Media Is Starting To Admit It

Are you living “the American Dream”?  If so, you should consider yourself to be very fortunate, because most Americans are not.  In fact, as you will see below, a new survey has found that there is nowhere on the entire planet where the average wage earner is making enough money to live “the American Dream”.  Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now the middle class makes up a minority of the population, 51 percent of all American workers make less than $30,000 a year, and poverty is growing rapidly.  The American Dream is essentially dead, and even the mainstream media is starting to figure this out.

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Just today, someone sent me a U.S. News & World Report article entitled “Even Americans Can’t Afford the American Dream”. The following is an excerpt from that article

The study goes country by country, factoring in average local wages and prices to calculate the regional costs of luxuries such as midsize homes (by U.S. standards, 1,480 square feet); electricity and high-speed Internet; cars and enough money for gasoline; food for a family of four; and enough disposable income to periodically dine out and attend movies or other events.

Researchers ultimately found there isn’t a country on the map whose average wage earner could afford all of these expenses together. What’s more, average consumers in Saudi Arabia and Oman are actually closer to financing these socioeconomic goals than the average American. The average Saudi household would only need to see monthly salaries climb by about $74 to realize the American dream in their own country, while U.S. workers would need hundreds of dollars in additional income.

Isn’t that alarming?

The American Dream is out of the grasp of most people living in America, and there isn’t anywhere else on the globe where a majority of the workers are experiencing it either.

That same article also contained a few other facts that are truly sobering…

“After more than four decades of serving as the nation’s economic majority, the American middle class is now matched in number by those in the economic tiers above and below it,” the Pew report said. “Since 1971, each decade has ended with a smaller share of adults living in middle-income households than at the beginning of the decade, and no single decade stands out as having triggered or hastened the decline in the middle.”

Another recent study from the Brookings Institution found that median wages fell in 80 percent of America’s largest metros between 2009 and 2014.

backyard-liberty-shelvesThe middle class has been shrinking for a very long time, and now that collapse is accelerating.

So what is the solution?

Well, CNN is reporting that a new survey has discovered that middle class Americans feel that the federal government should do more to help them out…

Hey federal government! The middle class would like some help, too.

A majority of Americans say the feds don’t do enough to help the middle class, according to a Pew Research Center survey released Thursday. The middle class is more neglected than the poor or children, survey respondents said.

More socialism for everyone!

That will solve all of our problems, right?

Of course not.  Actually, if we had a much smaller government that would probably go a long way toward fixing things.  This is hard to believe, but in 2015 Americans spent more on taxes than on food, clothing and housing combined.

If the federal government would just stop taxing us into oblivion, a lot more of us would do okay all on our own.

These days, so many families are just scraping by from month to month.  As the cost of living continues to move steadily upward, many Americans find themselves forced to go into debt just to cover basic expenses.

And our society actually encourages all of us to go into debt, and so we think that it is okay.  But many of us end up digging financial holes that we never get out of.  This is especially true for a lot of young people today.  One recent survey found that 68 percent of all Americans had destroyed their credit before the age of 30.

Of course then we hear on the news that the economy is “not growing fast enough” because consumers are not spending enough money.

The experts that are telling people this don’t seem to understand that most consumers are tapped out at this point.

You can’t get blood from a rock, and as a result a lot of retailers are really hurting right now.  The following list of store closures comes from my recent article about the ongoing retail apocalypse

-Wal-Mart is closing 269 stores, including 154 inside the United States.

-K-Mart is closing down more than two dozen stores over the next several months.

-J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.

-Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.

-The Gap is in the process of closing 175 stores in North America.

-Aeropostale is in the process of closing 84 stores all across America.

-Finish Line has announced that 150 stores will be shutting down over the next few years.

-Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.

When I was a young boy, I think that you could have said that the American Dream was still alive and well in the United States.

But after decades of exceedingly foolish decisions, things have completely changed and the middle class is dying right in front of our eyes.

If you doubt this, please see the list of statistics that I have shared below that comes from one of my previous articles

#1 This week we learned that for the first time ever recorded, middle class Americans make up a minority of the population. But back in 1971, 61 percent of all Americans lived in middle class households.

#2 According to the Pew Research Center, the median income of middle class households declined by 4 percent from 2000 to 2014.

#3 The Pew Research Center has also found that median wealth for middle class households dropped by an astounding 28 percent between 2001 and 2013.

#4 In 1970, the middle class took home approximately 62 percent of all income. Today, that number has plummeted to just 43 percent.

#5 There are still 900,000 fewer middle class jobs in America than there were when the last recession began, but our population has gotten significantly larger since that time.

#6 According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.

#7 For the poorest 20 percent of all Americans, median household wealth declined from negative 905 dollars in 2000 to negative 6,029 dollars in 2011.

#8 A recent nationwide survey discovered that 48 percent of all U.S. adults under the age of 30 believe that “the American Dream is dead”.

#9 At this point, the U.S. only ranks 19th in the world when it comes to median wealth per adult.

#10 Traditionally, entrepreneurship has been one of the engines that has fueled the growth of the middle class in the United States, but today the level of entrepreneurship in this country is sitting at an all-time low.

#11 If you can believe it, the 20 wealthiest people in this country now have more money than the poorest 152 million Americans combined.

#12 The top 0.1 percent of all American families have about as much wealth as the bottom 90 percent of all American families combined.

#13 If you have no debt and you also have ten dollars in your pocket, that gives you a greater net worth than about 25 percent of all Americans.

#14 The number of Americans that are living in concentrated areas of high poverty has doubled since the year 2000.

#15 An astounding 48.8 percent of all 25-year-old Americans still live at home with their parents.

#16 According to the U.S. Census Bureau, 49 percent of all Americans now live in a home that receives money from the government each month, and nearly 47 million Americans are living in poverty right now.

#17 In 2007, about one out of every eight children in America was on food stamps. Today, that number is one out of every five.

#18 According to Kathryn J. Edin and H. Luke Shaefer, the authors of a new book entitled “$2.00 a Day: Living on Almost Nothing in America“, there are 1.5 million “ultrapoor” households in the United States that live on less than two dollars a day. That number has doubled since 1996.

#19 46 million Americans use food banks each year, and lines start forming at some U.S. food banks as early as 6:30 in the morning because people want to get something before the food supplies run out.

^333186B9714A2F740E7FBFA76B6B3E5985E5288C2889E44366^pimgpsh_fullsize_distr#20 The number of homeless children in the U.S. has increased by 60 percent over the past six years.

#21 According to Poverty USA, 1.6 million American children slept in a homeless shelter or some other form of emergency housing last year.

#22 The median net worth of families in the United States was $137, 955 in 2007. Today, it is just $82,756.

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source: endoftheamericandream.com

www.patriotnetdaily.com

Devastating: 48% Collapse In Trucking Orders: “The Backbone of U.S. Trade Infrastructure and Logistics”

To much applause you no doubt heard President Obama take aim at all the fear mongers out there during his State of the Union address a couple of weeks ago:

The United States of America, right now, has the strongest, most durable economy in the world…

Anyone claiming that America’s economy is in decline is peddling fiction.

Fiction?

As we and other fiction writers, researchers and analysts have repeatedly warned in recent months, the United States has clearly entered recession, if not worse.

But, don’t take our word for it. Here’s the reality of the situation, as reported by Zero Hedge. Pay special attention to the “red” lines.


“It’s Probably Nothing”: January Truck Orders Collapse 48%

We have previously shown just how bad the situation in the US heavy trucking space – trucks with a gross weight over 33K pounds – was most recently in “US Trucking Has Not Been This Bad Since The Financial Crisis” in which we looked at November data and found, that “Class 8 truck net orders at 16,475, were 59% below a year ago and the lowest level since September 2012.  This was the weakest November order activity since 2009 and was a major disappointment, coming in significantly below expectations. All of the OEMs, except one, experienced unusually low orders for the month.”

For those who missed the proverbial wheels falling of the heavy trucks, so to speak, the charts below do the situation justice:

truckingcollapse1

truckingcollapse2

truckingcollapse3

^B15E4EC42065C5BF6C4E3F7516792A481A3EDDF00E58098357^pimgpsh_fullsize_distrSo with 2015 in the history books, and as we start 2016 where the base effect was supposed to make the annual comps far more palatable, we just got the latest, January data. In short: the drop continues to be one of Great Recession proportions, manifesting in yet another massive 48% collapse in truck orders in the first month of the year as demand appears to have gone in a state of deep hibernation.  From Reuters:

U.S. January Class 8 truck orders fell 48 percent on the year, preliminary data from freight transportation forecaster FTR showed, indicating that 2016 could be another weak year for truck makers.

FTR estimated that orders for the heavy trucks that move goods around America’s highways totaled 18,062 units in January. This follows on from a full-year decline in 2015 of nearly 25 percent to 284,000 units from 276,000.

“It is not looking to be a strong year,” for the market, FTR chief operating officer Jonathan Starks said in a statement.

Amid uncertainty over U.S. economic growth and a lackluster performance for retailers in the fourth quarter, trucking companies have been holding back on buying new models

As a reminder, unlike trains, which one can say are used to transport oil and coal, Class 8 trucks make up the backbone of U.S. trade infrastructure and logistics: what they represent is both domestic and global trade. Or in this the devastating collapse thereof.

Should one be concerned by this precipitous drop? Absolutely not: as the Federal Reserve would certainly say “it’s probably nothing” and blame it on the weather.

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source: www.shtfplan.com

www.patriotnetdaily.com

The Beast System Arises: The Largest Bank In Norway Calls For The Elimination Of Cash

The biggest bank in Norway is calling for the complete and total elimination of cash. Many local bank branches in Norway already don’t deal in cash, but that is not good enough for DNB. They want a blanket ban on the use of cash, and they are selling this as a way to crack down on criminals and money launderers. But in the end, the truth is that they want to be able to force everyone in society to use the banks and it would enable them to collect fees on almost every transaction. It is an agenda that is being driven by greed, but it could also open the door for great tyranny. http://730aaj-f-wvdm73p79q4fj6qc6.hop.clickbank.net/?tid=pndaUnfortunately, we are not just seeing aggressive movement toward a cashless society in Norway. It is also happening in Sweden, in Denmark and in many other nations all around the globe. The Beast system is rising, and yet very few people out there even seem alarmed by this.

When I first learned about what was happening in Norway, I was absolutely stunned. I have ancestors that came over to America from over there, and I had no idea that this was happening. The following comes from the International Business Times

The largest bank in Norway has called for the country to stop using cash, the Local reported Friday. This comes as the latest move in a country that has been leading the global charge toward electronic money in recent years, with several banks already not offering cash in their branch offices and some industries seeking to cut back on paper currency.

Of course this idea is being sold as something that will be really good for Norwegian society. DNB promises that eliminating cash will help authorities crack down on criminal activity and money laundering. Here is more from the International Business Times

“Today, there is approximately 50 billion kroner in circulation and [the country’s central bank] Norges Bank can only account for 40 percent of its use. That means that 60 percent of money usage is outside of any control. We believe that is due to under-the-table money and laundering,” Trond Bentestuen, a DNB executive, told Norwegian website VG, the Local reported.

There are so many dangers and disadvantages associated with cash, we have concluded that it should be phased out,” he added.

But in addition to catching more criminals, there are many other reasons why governments really like the idea of a cashless society. It would also mean that no financial transaction would escape taxation, and it would also enable them to watch, track and monitor everything that we do much more closely.

And banks would be absolutely thrilled with a cashless society. Every member of society would be forced to use the system, bank runs would be eliminated, and every time we swipe our cards they would collect a fee.

In addition, there would be absolutely no escaping the bank bail-ins that are coming in Europe. If there was no way to pull your money out of the system, there would be no way to avoid the kind of theft that has now been institutionalized by European authorities. I covered the brand new bail-in rules that went into effect in Europe on January 1st, 2016 in a previous article

If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus bank bail-ins that we witnessed a few years ago. If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe.

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Sadly, we are now witnessing a major push toward a cashless society all over the planet.

It is happening in China, in India, and all over Europe. In fact, some nations in Europe have already banned cash transactions over a certain level. Here are just a couple of examples

As I have written about previously, cash transactions of more than 2,500 euros have already been banned in Spain, and France and Italy have both banned all cash transactions of more than 1,000 euros.

Little by little, cash is being eradicated, and what we have seen so far is just the beginning. 417 billion cashless transactions were conducted in 2014, and the final number for 2015 is projected to be much higher.

Of course the epicenter for the transition to a cashless society continues to be northern Europe.

Denmark intends to entirely eradicate cash by the year 2030, and the transition to a cashless society in Sweden is now almost complete

Did you know that 95 percent of all retail sales in Sweden are cashless? And did you know that the government of Denmark has a stated goal of “eradicating cash” by the year 2030? All over the world, we are seeing a relentless march toward a cashless society, and nowhere is this more true than in northern Europe. In Sweden, hundreds of bank branches no longer accept or dispense cash, and thousands of ATM machines have been permanently removed. At this point, bills and coins only account for just 2 percent of the Swedish economy, and many stores no longer take cash at all. The notion of a truly “cashless society” was once considered to be science fiction, but now we are being told that it is “inevitable”, and authorities insist that it will enable them to thwart criminals, terrorists, drug runners, money launderers and tax evaders. But what will we give up in the process?

The potential for tyranny is what has me concerned more than anything.

Just imagine a world where you could not buy, sell, get a job or open a bank account without participating in “the system”.

^333186B9714A2F740E7FBFA76B6B3E5985E5288C2889E44366^pimgpsh_fullsize_distrIf you chose to opt out, how would you and your family survive?

And it would be way too easy for the government to set requirements for participation in the system. For example, they could make it illegal to sell to anyone without the proper government-issued form of identification, or they could require some form of loyalty oath as a pre-condition for enrollment.

The war on cash is a direct assault on the fundamental liberties and freedoms that we enjoy today. They may promise us that a cashless society will make our lives better right now, but tomorrow I am afraid that it could open the door to tyranny on a level that most of us would have never even imagined.

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source: endoftheamericandream.com

www.patriotnetdaily.com

Bank “ Bail-Ins ” Begin…”Your Life Savings Could be Wiped out in a Massive Derivatives Collapse”

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US.  Poverty also kills. 

At the end of November, an Italian pensioner hanged himself after his entire €100,000 savings were confiscated in a bank “rescue” scheme. He left a suicide note blaming the bank, where he had been a customer for 50 years and had invested in bank-issued bonds. But he might better have blamed the EU and the G20’s Financial Stability Board, which have imposed an “Orderly Resolution” regime that keeps insolvent banks afloat by confiscating the savings of investors and depositors. Some 130,000 shareholders and junior bond holders suffered losses in the “rescue.”

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The pensioner’s bank was one of four small regional banks that had been put under special administration over the past two years. The €3.6 billion ($3.83 billion) rescue plan launched by the Italian government uses a newly-formed National Resolution Fund, which is fed by the country’s healthy banks. But before the fund can be tapped, losses must be imposed on investors; and in January, EU rules will require that they also be imposed on depositors. According to a December 10th article on BBC.com:
The rescue was a “bail-in” – meaning bondholders suffered losses – unlike the hugely unpopular bank bailouts during the 2008 financial crisis, which cost ordinary EU taxpayers tens of billions of euros.

Correspondents say [Italian Prime Minister] Renzi acted quickly because in January, the EU is tightening the rules on bank rescues – they will force losses on depositors holding more than €100,000, as well as bank shareholders and bondholders.

. . . Letting the four banks fail under those new EU rules next year would have meant “sacrificing the money of one million savers and the jobs of nearly 6,000 people”.
That is what is predicted for 2016: massive sacrifice of savings and jobs to prop up a “systemically risky” global banking scheme.

Bail-in Under Dodd-Frank 

That is all happening in the EU. Is there reason for concern in the US?

According to former hedge fund manager Shah Gilani, writing for Money Morning, there is. In a November 30th article titled “Why I’m Closing My Bank Accounts While I Still Can,” he writes:

It is entirely possible in the next banking crisis that depositors in giant too-big-to-fail failing banks could have their money confiscated and turned into equity shares. . . .

If your too-big-to-fail (TBTF) bank is failing because they can’t pay off derivative bets they made, and the government refuses to bail them out, under a mandate titled “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” approved on Nov. 16, 2014, by the G20’s Financial Stability Board, they can take your deposited money and turn it into shares of equity capital to try and keep your TBTF bank from failing.

Once your money is deposited in the bank, it legally becomes the property of the bank. Gilani explains:

usc12Your deposited cash is an unsecured debt obligation of your bank. It owes you that money back.

If you bank with one of the country’s biggest banks, who collectively have trillions of dollars of derivatives they hold “off balance sheet” (meaning those debts aren’t recorded on banks’ GAAP balance sheets), those debt bets have a superior legal standing to your deposits and get paid back before you get any of your cash.

. . . Big banks got that language inserted into the 2010 Dodd-Frank law meant to rein in dangerous bank behavior.

The banks inserted the language and the legislators signed it, without necessarily understanding it or even reading it. At over 2,300 pages and still growing, the Dodd Frank Act is currently the longest and most complicated bill ever passed by the US legislature.

Propping Up the Derivatives Scheme

Dodd-Frank states in its preamble that it will “protect the American taxpayer by ending bailouts.” But it does this under Title II by imposing the losses of insolvent financial companies on their common and preferred stockholders, debtholders, and other unsecured creditors. That includes depositors, the largest class of unsecured creditor of any bank.

Title II is aimed at “ensuring that payout to claimants is at least as much as the claimants would have received under bankruptcy liquidation.” But here’s the catch: under both the Dodd Frank Act and the 2005 Bankruptcy Act, derivative claims have super-priority over all other claims, secured and unsecured, insured and uninsured.

The over-the-counter (OTC) derivative market (the largest market for derivatives) is made up of banks and other highly sophisticated players such as hedge funds. OTC derivatives are the bets of these financial players against each other. Derivative claims are considered “secured” because collateral is posted by the parties.

For some inexplicable reason, the hard-earned money you deposit in the bank is not considered “security” or “collateral.” It is just a loan to the bank, and you must stand in line along with the other creditors in hopes of getting it back. State and local governments must also stand in line, although their deposits are considered “secured,” since they remain junior to the derivative claims with “super-priority.”

Turning Bankruptcy on Its Head

 Under the old liquidation rules, an insolvent bank was actually “liquidated” – its assets were sold off to repay depositors and creditors. Under an “orderly resolution,” the accounts of depositors and creditors are emptied to keep the insolvent bank in business. The point of an “orderly resolution” is not to make depositors and creditors whole but to prevent another system-wide “disorderly resolution” of the sort that followed the collapse of Lehman Brothers in 2008. The concern is that pulling a few of the dominoes from the fragile edifice that is our derivatives-laden global banking system will collapse the entire scheme. The sufferings of depositors and investors are just the sacrifices to be borne to maintain this highly lucrative edifice.

In a May 2013 article in Forbes titled “The Cyprus Bank ‘Bail-In’ Is Another Crony Bankster Scam,” Nathan Lewis explained the scheme like this:
At first glance, the “bail-in” resembles the normal capitalist process of liabilities restructuring that should occur when a bank becomes insolvent. . . .

The difference with the “bail-in” is that the order of creditor seniority is changed. In the end, it amounts to the cronies (other banks and government) and non-cronies. The cronies get 100% or more; the non-cronies, including non-interest-bearing depositors who should be super-senior, get a kick in the guts instead. . . .

In principle, depositors are the most senior creditors in a bank. However, that was changed in the 2005 bankruptcy law, which made derivatives liabilities most senior. Considering the extreme levels of derivatives liabilities that many large banks have, and the opportunity to stuff any bank with derivatives liabilities in the last moment, other creditors could easily find there is nothing left for them at all.
As of September 2014, US derivatives had a notional value of nearly $280 trillion. A study involving the cost to taxpayers of the Dodd-Frank rollback slipped by Citibank into the “cromnibus” spending bill last December found that the rule reversal allowed banks to keep $10 trillion in swaps trades on their books. This is money that taxpayers could be on the hook for in another bailout; and since Dodd-Frank replaces bailouts with bail-ins, it is money that creditors and depositors could now be on the hook for. Citibank is particularly vulnerable to swaps on the price of oil. Brent crude dropped from a high of $114 per barrel in June 2014 to a low of $36 in December 2015.

What about FDIC insurance? It covers deposits up to $250,000, but the FDIC fund had only $67.6 billion in it as of June 30, 2015, insuring about $6.35 trillion in deposits. The FDIC has a credit line with the Treasury, but even that only goes to $500 billion; and who would pay that massive loan back? The FDIC fund, too, must stand in line behind the bottomless black hole of derivatives liabilities. As Yves Smith observed in a March 2013 post:
usc66In the US, depositors have actually been put in a worse position than Cyprus deposit-holders, at least if they are at the big banks that play in the derivatives casino. The regulators have turned a blind eye as banks use their depositors to fund derivatives exposures. . . . The deposits are now subject to being wiped out by a major derivatives loss.
Even in the worst of the Great Depression bank bankruptcies, noted Nathan Lewis, creditors eventually recovered nearly all of their money. He concluded:
When super-senior depositors have huge losses of 50% or more, after a “bail-in” restructuring, you know that a crime was committed.
Exiting While We Can

How can you avoid this criminal theft and keep your money safe? It may be too late to pull your savings out of the bank and stuff them under a mattress, as Shah Gilani found when he tried to withdraw a few thousand dollars from his bank. Large withdrawals are now criminally suspect.

You can move your money into one of the credit unions with their own deposit insurance protection; but credit unions and their insurance plans are also under attack. So writes Frances Coppola in a December 18th article titled “Co-operative Banking Under Attack in Europe,” discussing an insolvent Spanish credit union that was the subject of a bail-in in July 2015. When the member-investors were subsequently made whole by the credit union’s private insurance group, there were complaints that the rescue “undermined the principle of creditor bail-in” – this although the insurance fund was privately financed. Critics argued that “this still looks like a circuitous way to do what was initially planned, i.e. to avoid placing losses on private creditors.”

In short, the goal of the bail-in scheme is to place losses on private creditors. Alternatives that allow them to escape could soon be blocked.

We need to lean on our legislators to change the rules before it is too late. The Dodd Frank Act and the Bankruptcy Reform Act both need a radical overhaul, and the Glass-Steagall Act (which put a fire wall between risky investments and bank deposits) needs to be reinstated.

Meanwhile, local legislators would do well to set up some publicly-owned banks on the model of the state-owned Bank of North Dakota – banks that do not gamble in derivatives and are safe places to store our public and private funds.

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source: worldtruth.tv – by Ellen Brown

www.patriotnetdaily.com

58 Facts About The U.S. Economy From 2015 That Are Almost Too Crazy To Believe

The world didn’t completely fall apart in 2015, but it is undeniable that an immense amount of damage was done to the U.S. economy .  This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions.  Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016.  Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally.  Some of the largest economies on the entire planet such as Brazil and Canada have already plunged into deep recessions, and just about every leading indicator that you can think of is screaming that the U.S. is heading into one.  So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media.  When you look at the cold, hard numbers, they tell a completely different story.  The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe…

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#1 These days, most Americans are living paycheck to paycheck.  At this point 62 percent of all Americans have less than 1,000 dollars in their savings accounts, and 21 percent of all Americans do not have a savings account at all.

#2 The lack of saving is especially dramatic when you look at Americans under the age of 55.  Incredibly, fewer than 10 percent of all Millennials and only about 16 percent of those that belong to Generation X have 10,000 dollars or more saved up.

#3 It has been estimated that 43 percent of all American households spend more money than they make each month.

#4 For the first time ever, middle class Americans now make up a minority of the population. But back in 1971, 61 percent of all Americans lived in middle class households.

#5 According to the Pew Research Center, the median income of middle class households declined by 4 percent from 2000 to 2014.

#6 The Pew Research Center has also found that median wealth for middle class households dropped by an astounding 28 percent between 2001 and 2013.

#7 In 1970, the middle class took home approximately 62 percent of all income. Today, that number has plummeted to just 43 percent.

#8 There are still 900,000 fewer middle class jobs in America than there were when the last recession began, but our population has gotten significantly larger since that time.

#9 According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.

#10 For the poorest 20 percent of all Americans, median household wealth declined from negative 905 dollars in 2000 to negative 6,029 dollars in 2011.

#11 A recent nationwide survey discovered that 48 percent of all U.S. adults under the age of 30 believe that “the American Dream is dead”.

#12 Since hitting a peak of 69.2 percent in 2004, the rate of homeownership in the United States has been steadily declining every single year.

#13 At this point, the U.S. only ranks 19th in the world when it comes to median wealth per adult.

#14 Traditionally, entrepreneurship has been one of the primary engines that has fueled the growth of the middle class in the United States, but today the level of entrepreneurship in this country is sitting at an all-time low.

#15 For each of the past six years, more businesses have closed in the United States than have opened.  Prior to 2008, this had never happened before in all of U.S. history.

#16 If you can believe it, the 20 wealthiest people in this country now have more money than the poorest 152 million Americans combined.

#17 The top 0.1 percent of all American families have about as much wealth as the bottom 90 percent of all American families combined.

#18 If you have no debt and you also have ten dollars in your pocket, that gives you a greater net worth than about 25 percent of all Americans.

#19 The number of Americans that are living in concentrated areas of high poverty has doubled since the year 2000.

#20 An astounding 48.8 percent of all 25-year-old Americans still live at home with their parents.

#21 According to the U.S. Census Bureau, 49 percent of all Americans now live in a home that receives money from the government each month, and nearly 47 million Americans are living in usc66poverty right now.

#22 In 2007, about one out of every eight children in America was on food stamps. Today, that number is one out of every five.

#23 According to Kathryn J. Edin and H. Luke Shaefer, the authors of a new book entitled “$2.00 a Day: Living on Almost Nothing in America“, there are 1.5 million “ultrapoor” households in the United States that live on less than two dollars a day. That number has doubled since 1996.

#24 46 million Americans use food banks each year, and lines start forming at some U.S. food banks as early as 6:30 in the morning because people want to get something before the food supplies run out.

#25 The number of homeless children in the U.S. has increased by 60 percent over the past six years.

#26 According to Poverty USA, 1.6 million American children slept in a homeless shelter or some other form of emergency housing last year.

#27 Police in New York City have identified 80 separate homeless encampments in the city, and the homeless crisis there has gotten so bad that it is being described as an “epidemic”.

#28 If you can believe it, more than half of all students in our public schools are poor enough to qualify for school lunch subsidies.

#29 According to a Census Bureau report that was released a while back, 65 percent of all children in the U.S. are living in a home that receives some form of aid from the federal government.

#30 According to a report that was published by UNICEF, almost one-third of all children in this country “live in households with an income below 60 percent of the national median income”.

#31 When it comes to child poverty, the United States ranks 36th out of the 41 “wealthy nations” that UNICEF looked at.

#32 An astounding 45 percent of all African-American children in the United States live in areas of “concentrated poverty”.

#33 40.9 percent of all children in the United States that are being raised by a single parent are living in poverty.

#34 There are 7.9 million working age Americans that are “officially unemployed” right now and another 94.4 million working age Americans that are considered to be “not in the labor force”.  When you add those two numbers together, you get a grand total of 102.3 million working age Americans that do not have a job right now.

#35 According to a recent Pew survey, approximately 70 percent of all Americans believe that “debt is a necessity in their lives”.

#36 53 percent of all Americans do not even have a minimum three-day supply of nonperishable food and water at home.

#37 According to John Williams of shadowstats.com, if the U.S. government was actually using honest numbers the unemployment rate in this nation would be 22.9 percent.

#38 Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, only about 65 percent of all men in the United States have jobs.

#39 The labor force participation rate for men has plunged to the lowest level ever recorded.

#40 Wholesale sales in the U.S. have fallen to the lowest level since the last recession.

#41 The inventory to sales ratio has risen to the highest level since the last recession.  This means that there is a whole lot of unsold inventory that is just sitting around out there and not selling.

#42 The ISM manufacturing index has fallen for five months in a row.

#43 Orders for “core” durable goods have fallen for ten months in a row.

#44 Since March, the amount of stuff being shipped by truck, rail and air inside the United States has been falling every single month on a year over year basis.

#45 Wal-Mart is projecting that its earnings may fall by as much as 12 percent during the next fiscal year.

#46 The Business Roundtable’s forecast for business investment in 2016 has dropped to the lowest level that we have seen since the last recession.

#47 Corporate debt defaults have risen to the highest level that we have seen since the last recession.  This is a huge problem because corporate debt in the U.S. has approximately doubled since just before the last financial crisis.

#48 Holiday sales have gone negative for the first time since the last recession.

#49 The velocity of money in the United States has dropped to the lowest level ever recorded.  Not even during the depths of the last recession was it ever this low.

#50 Barack Obama promised that his program would result in a decline in health insurance premiums by as much as $2,500 per family, but in reality average family premiums have increased by a total of $4,865 since 2008.

#51 Today, the average U.S. household that has at least one credit card has approximately $15,950 in credit card debt.

#52 The number of auto loans that exceed 72 months has hit at an all-time high of 29.5 percent.

#53 According to Dr. Housing Bubble, there have been “nearly 8 million homes lost to foreclosure since the homeownership rate peaked in 2004″.

#54 One very disturbing study found that approximately 41 percent of all working age Americans either currently have medical bill problems or are paying off medical debt.  And collection agencies seek to collect unpaid medical bills from about 30 million of us each and every year.

backyard-liberty-shelves#55 The total amount of student loan debt in the United States has risen to a whopping 1.2 trillion dollars.  If you can believe it, that total has more than doubled over the past decade.

#56 Right now, there are approximately 40 million Americans that are paying off student loan debt.  For many of them, they will keep making payments on this debt until they are senior citizens.

#57 When you do the math, the federal government is stealing more than 100 million dollars from future generations of Americans every single hour of every single day.

#58 An astounding 8.16 trillion dollars has already been added to the U.S. national debt while Barack Obama has been in the White House.  That means that it is already guaranteed that we will add an average of more than a trillion dollars a year to the debt during his presidency, and we still have more than a year left to go.

What we have seen so far is just the very small tip of a very large iceberg.  About six months ago, I stated that “our problems will only be just beginning as we enter 2016″, and I stand by that prediction.

We are in the midst of a long-term economic collapse that is beginning to accelerate once again.  Our economic infrastructure has been gutted, our middle class is being destroyed, Wall Street has been transformed into the biggest casino in the history of the planet, and our reckless politicians have piled up the biggest mountain of debt the world has ever seen.

Anyone that believes that everything is “perfectly fine” and that we are going to come out of this “stronger than ever” is just being delusional.  This generation was handed the keys to the finest economic machine of all time, and we wrecked it.  Decades of incredibly foolish decisions have culminated in a crisis that is now reaching a crescendo, and this nation is in for a shaking unlike anything that it has ever seen before.

So enjoy the rest of 2015 while you still can.

2016 is almost here, and it is going to be quite a year…

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source: theeconomiccollapseblog.com

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Bernie Sanders: We Need A “Full and Independent Audit of the” Federal Reserve

Democratic presidential candidate and U.S. Senator from Vermont Bernie Sanders wrote an op-ed for The New York Times on Wednesday calling for the Federal Reserve to be audited independently by the Government Accountability Office on an annual basis.

uscrises_300x250_fraudMeanwhile, Senate Majority Leader Mitch McConnell (R-Ky.) has scheduleda historic Jan. 12 vote on a bill, colloquially referred to as “Audit the Fed,” which was introduced by Sen. Rand Paul (R-Ky.). The bill would authorize the GAO to perform full audits of the Federal Reserve System.

To rein in Wall Street, we should begin by reforming the Federal Reserve, which oversees financial institutions and which uses monetary policy to maintain price stability and full employment. Unfortunately, an institution that was created to serve all Americans has been hijacked by the very bankers it regulates,” wrote Sen. Sanders.

He added, “What went wrong at the Fed? The chief executives of some of the largest banks in America are allowed to serve on its boards. During the Wall Street crisis of 2007, Jamie Dimon, the chief executive and chairman of JPMorgan Chase, served on the New York Fed’s board of directors while his bank received more than $390 billion in financial assistance from the Fed. Next year, four of the 12 presidents at the regional Federal Reserve Banks will be former executives from one firm: Goldman Sachs.

Sanders called for the Glass-Steagall Act to be reinstated, a Depression-era banking regulation that created a wall of separation between consumer and investment banks prior to its repeal by former President Bill Clinton. He also suggested that the Fed should be prevented from providing incentives to encourage banks to sit on cash reserves.

As a condition of receiving financial assistance from the Fed,” said Sanders, “large banks must commit to increasing lending to creditworthy small businesses and consumers, reducing credit card interest rates and fees, and providing help to underwater and struggling homeowners.

Sanders argued that the Federal Reserve suffers from a lack of transparency. “In 2010, I inserted an amendment in Dodd-Frank to audit the emergency lending by the Fed during the financial crisis. We need to go further and require the Government Accountability Office to conduct a full and independent audit of the Fed each and every year,” he said.

Audit the Fed legislation first became a hot political topic as a result of the sudden, meteoric 2008 rise to popularity of libertarian icon and former Congressman Ron Paul (R-Texas), who made the push for Fed transparency a central focus of his entire political career.

The Dodd-Frank amendment that Sen. Sanders is referring to that provided for a limited audit of the Federal Reserve drew strong criticism from Congressman Paul back in 2010, as Paul felt that Sanders had hijacked his momentum for a full audit and replaced it with a more limited, watered-down version. Congressman Paul’s full Audit the Fed legislation had already passed the House prior to Sanders’ push for a tamer audit in the Senate.

In the above-embedded video from 2010, an irate Ron Paul can be seen saying, “I had expected Bernie Sanders to offer S. 604 which is the same as H.R. 1207, which is Audit the Fed bill, and at the last minute he switched it and watered it down and, really, it adds nothing. It’s a possibility that it even makes the current conditions worse… We need to get as many messages as possible to any senator you can think of — especially to Bernie Sanders’ office — that we don’t want this version. We want a true audit of the Fed. We need to know what the Open Market Committee does and we need to know what they’re doing overseas with the agreements with central banks and financial institutions and other governments.

usc01

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source: worldtruth.tv

www.patriotnetdaily.com

JP Morgan And Citigroup Agree That The U.S. Economy Is Steamrolling Toward A Recession

As we approach the end of 2015, researchers at both JP Morgan and Citigroup agree that the probability that the U.S. economy will soon plunge into recession is rising.  Just last week, a member of the U.S. House of Representatives asked Janet Yellen about Citigroup’s assessment that there is a 65 percent chance that the United States will experience an economic recession in 2016.  You can read her answer below.  And just a few days ago, JP Morgan economists Michael Feroli, Daniel Silver, Jesse Edgerton, and Robert Mellman released a report in which they declared that “the probability of recession within three years” has risen to “an eye-catching 76%”

“Our longer-run indicators, however, continue to suggest an elevated risk that the expansion is nearing its end, and our preferred model now puts the probability of recession within three years at an eye-catching 76%.”

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The good news is that the economists at JP Morgan believe that a recession will probably not hit us within the next six months.  But due to steadily weakening economic conditions, they are convinced that one is almost certain to strike within the next few years

“When we first wrote, only manufacturing sentiment was signaling an above-average probability of imminent recession,” they said. “But recent weakening in the Richmond Fed services survey and the ISM nonmanufacturing index have now pushed the nonmanufacturing sentiment probability up somewhat as well.”

In the short term, the note says that the 6-month likelihood is only 5%, but within a year it stands at 23%, in two years 48%, and in three years the “eye-popping” 76%.

To be honest, I believe that this assessment is far too optimistic, and it appears that researchers at Citigroup agree with me.  According to them, there is a 65 percent chance that the U.S. economy will plunge into recession by the end of next year.  Last week, Janet Yellen was asked about this during testimony before Congress

In testimony before Congress’ Joint Economic Committee, Yellen was asked by Rep. Pat Tiberi about a piece of research released by Citigroup’s rates strategy team Monday.

Specifically, Tiberi, an Ohio Republican, wanted to know what Yellen made of Citi’s conclusion that there is a 65 percent chance of a U.S. recession in 2016.

“The economists said that they would assign about a 65 percent likelihood of a recession in the United States in 2016. Now, 65 percent sounds high to me, but I’m not an economist and I’m not the Fed chair. But zero risk might be too low as well. So what would you assign a risk level of a recession next year?” Tiberi asked.

So how did Yellen respond?

Her answer was about what you would expect

“I absolutely wouldn’t see it as anything approaching 65 percent,” the central banker said.

This reminds me so much of what former Federal Reserve Chairman Ben Bernanke said when he was asked a similar question back in 2008

“The Federal Reserve is not currently forecasting a recession.”

Later on, when the official numbers finally came out and all the revisions were done, we learned that the U.S. economy was already in a recession when he made that statement.

And when it is all said and done this time around, I believe that history will show that a new global recession had already started when Janet Yellen made her statement.

But don’t just take my word for it.  British banking giant HSBC is the largest bank in the western world, and they recently announced that the global economy has already entered a “dollar recession“.  According to HSBC, total global trade has fallen 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent.

If their figures are correct, a new global recession has definitely begun.

http://730aaj-f-wvdm73p79q4fj6qc6.hop.clickbank.net/?tid=pndaAnd without a doubt, we have already seen a tremendous amount of global financial turmoil.  This is something that I highlighted in my recent article entitled “27 Major Global Stocks Markets That Have Already Crashed By Double Digit Percentages In 2015“.  When Zero Hedge republished my article, several excellent charts were added that really illustrate how bad things have gotten, and I wanted to share a couple of them with you.  Of the 93 largest stock market indexes in the world, an astounding 47 of them (more than half) are down at least 10 percent year to date.  This first chart shows which ones fall into that category…

47-Out-Of-93-460x871

Another chart that was added to the article by Zero Hedge shows how decoupled U.S. stocks have become from global stocks overall.  As you can see, U.S. stocks are not too far from recent highs at the moment, but global stocks overall are solidly in bear market territory…

US-Stocks-And-World-Stocks-460x239

Since mid-2015, trillions of dollars of stock market wealth has been wiped out globally.

Let that sink in for a moment.

The debate is over.  The “major financial collapse” that so many warned was imminent has actually happened.

It is just that U.S. stocks have not gotten the memo yet.  Up to this point they have defied gravity, but at some point U.S. stocks and world stocks will converge once again.

And if you want to see many of the reasons why U.S. stocks will soon take a big tumble, just check out this article.  There is no way that U.S. stocks will be able to defy the underlying economic fundamentals that are pummeling other global markets for much longer.  Just like in 2008, a global stock market slide that starts elsewhere will eventually hit the United States.  It is just a matter of time.

But once again, even though U.S. stocks are doing okay for the moment, that doesn’t negate the fact that more than half of all major global stock indexes are down by double digit percentages year to date.

We have not seen numbers like this since the great stock market crash of 2008, and it seems abundantly clear to me that the great financial shaking that so many warned was coming in 2015 is already happening.

And if JP Morgan and Citigroup are correct, what we have seen so far is just a preview of some very troubling times ahead.

Debt doomsayer: Treasury forecasts ‘back to 2008 recession or worse’ if US defaults

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Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent?

The Economic Crisis Is Accelerating Because Debt Is Not Wealth

Preparing For A Long Term Economic Depression

“Conquering the Coming Collapse” – Real, Proven Survival Strategies When Money Turns Into Dust

8 Lessons Learned From The Great Depression

DHS Insider: Crisis Of Unprecedented Magnitude To Strike U.S.

The Public Theft of Private Assets Always Precedes An Economic Collapse and That Time Is Upon Us

Food and the Danger of Economic Collapse

Is A ‘Partial’ Economic Collapse Possible? Economic Thread

Will YOU Be Homeless After The Economic Collapse?

The Economic Collapse Warning Sign You Need To Know

The Coming U.S. Economic Collapse Will Trigger a Revolution

How to Survive and Thrive in the City After the Economic Collapse

Legendary Business Owner Warns Of Economic Collapse

source: theeconomiccollapseblog.com

www.patriotnetdaily.com