If you have most of your money tied up in the bank, you are either the most generous person in the world, or you are a fool of monumental proportions. Have you invested in developing the means to defend your property and family’s lives? Do you have enough food and water stored up to survive at least two years? Nearly every publication estimates the derivatives debt to be in the range of one quadrillion dollars to $1.5 quadrillion dollars which is 16 times the entire value of the planet. The game is over and the world’s economy is in the midst of entering a state of economic free fall. And what is going to happen when that occurs? There are going to be too many mouths to feed. Citizens will soon come to be viewed as an economic liability by their respective governments. Historically, what do governments do when they can no longer feed their people? The reader will be able to answer this question by the conclusion of this article.
Bank of America and the Death of the American Economy
If we want to know where the future will take us, we need to watch Bank of America. In an obscure, but well reported 2011 event, Bank of America announced it was shifting derivatives in its Merrill investment-banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This was announced as a news blurb in the main stream media and was prominently reported in the Daily Bail.
This was the single biggest financial event in the history of America. It was bigger than the 1929 stock market crash and it was bigger than the beginning of the bail outs in 2008, but it did not received the banner headlines that it should have received. What does this mean? It means that the Bank of America’s European derivatives are now going to be “insured” by U.S. taxpayers and its two most important financial institutions, the Federal Reserve and the FDIC. What is even more distressing is that the Bank of America did not even seek or receive regulatory approval for this action. This action was simply acted upon on behalf of frightened counterparties. Under the Federal Bankruptcy Act of 2005, the counterparties derivatives debt receive “super priority” when it comes to the disbursement of FDIC insurance payments to failed banks. Where do the rest of us stand in terms of reimbursement for a failed bank? We are in last place. In short, when your bank fails, your money is gone and so will be your ability to obtain life-supporting resources unless you are already prepared.
Just how serious is the derivatives debt for the Bank of America? The Daily Bail reported that this was a “direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input . . . “ The estimated total of derivatives debt tied around the neck of Bank of America is a little under $80 trillion dollars and is growing exponentially because of the interest payments. And yet, there is another shocker, JP Morgan Chase is receiving the same undue government benefit with $79 trillion of its national derivatives debt guaranteed by the FDIC and Federal Reserve. What this means for you and me is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in insurance derivatives contracts, labeled as credit default swaps (CDS) which were sold by Bank of America and JP Morgan. This is when you will lose all control over your money and ultimately your life, if you are not prepared ahead of time.When this happens, the poor are going to go looking for the rich. Subsequently, the rich are making their plans.
Economic Experts Are Saying “Game Over”
John Embry of King World News recently stated that “This is an extraordinarily risky situation that the world faces as global stock markets begin to tumble. When I look back at all my decades of being in the financial world, I can’t remember a single time when world markets have been more prone to total collapse than they are today.”
Economic expert Gregory Mannarino is talking about the hidden message that banks are sending which is to dump their currencies and get liquid as quickly as possible. This is why you need to get your money out of the bank, except to pay your monthly bills. The message to dump currencies is omnipresent. It is quite clear that Mannarino is expecting multiple currency collapses and a series of bank runs as he explains what to look for in the following video. There is coming a day when the public will chase the bankers down the street and hang them from the nearest light pole. In a future story I am working on, someone is already exacting judgment against banking executives with the “suicides” (i.e. executions) of several prominent bankers who are not going to be allowed to enjoy the fruits of their thievery.
Do you remember Davos economist Robert Johnson? Johnson drew attention when stated that the wealthy elite are preparing bug out locations as a defense against global economic instability. Johnson further revealed that many of the elite warned are scared to death of “Ferguson” type of riots spurred by the tremendous wealth disparity between rich and poor in the United States. Johnson’s fears of economic riots, whose violence would be directed at the elite, is shared by economist Martin Armstrong, who, in 2014, predicted that widespread rioting would hit America by 2016 as a result of dire economic conditions.
Gerald Celente concurs with Mannarino, Embry, Johnson and Armstrong as the well-respected trend forecaster warns that, despite establishment false claims of economic recovery and growth made by President Obama in his State of the Union Address, things are about to go from bad to worse. Celente isn’t predicting that a monumental economic collapse is going to happen at some future date, he boldly states that the collapse is already underway and is in the process of sweeping across the globe! Spain has passed laws outlawing protesting. In Greece, off-the-books goon squads “deal with” economic political dissenters. And here in America, we began to outlaw free speech and protesting with the creation of “free speech zones” in 2012, and outlawing protesting near speeches given by a politician. The latter is punishable by a sentence of up to a year in prison. In other words, governments which are facing economic ruination, are preparing to “deal” with their people.
What does dealing with their people mean? Most of the global elite wholeheartedly believe in the sociological concept of “Malthusian Controls” which postulates that when the needs of a population exceeds the ability of that society to meet basic citizenry needs, bad things begin to happen such as famine, disease, war and genocide. Which will it be? Perhaps the readers can now understand why so much attention must be paid to events such as world war, a pandemic and the topic of FEMA camps. Can you now answer the question as to what governments do when they cannot meet the needs of its people?