Tuesday, April 9, 2013

Secret FDIC Plan to Loot Bank Accounts

Stephen Lendman
Activist Post

It shouldn't surprise. It's already policy. Market analyst Graham Summers explained. Depositor theft is coming. Europe is banker occupied territory. So is America.

Finance is a new form of warfare. It's more powerful than standing armies. Banking giants run things. Money power has final say.

Economies are strip-mined for profit. Communities are laid waste. Ordinary people are impoverished. Even their bank accounts aren't safe.

Cypriot officials agreed to tax them. Canada, New Zealand, and Euroland member states plan doing the same thing. So does America.

Officially they're called "bail-ins." It's code language for grand theft. Instead of breaking up, nationalizing, or closing down failed banks, depositor funds will keep them operating.

Money printing madness can't go on forever. Regulators, like FDIC, haven't enough money to insure depositors. It's simple mathematical logic.


Ordinary people and richer ones have trillions in bank accounts. It's low-hanging fruit. It's a treasure trove begging to be looted. Legislative shenanigans legitimize it.

It's happening offshore. It's approved in Canada. It's coming to America. "What happened in Cyprus isn't a 'one-off,' " said Summers. When systemic crisis hits, things happen "FAST and FURIOUS."

Cpyriot bailout talks continued for months. "And then the entire system came unhinged in one weekend."

Banks closed. Capital controls were imposed. People couldn't write checks. They lost access to their money. Limited amounts only were permitted. Insiders were tipped off. They exited early. Others uninformed now suffer.

Think it can't happen here? Think again. It's coming. Proposed FDIC legislation lets it "TAKE CONTROL OF BANKS IT DEEMS SYSTEMATICALLY IMPORTANT AND WRITE DOWN YOUR SAVINGS (AND OTHER BANK ACCOUNTS) AS PART OF THE BAIL-IN."

Dodd Frank financial reform capitulated to Wall Street. It did so at the expense of the economy, states, local communities, and ordinary people hit hardest.

It's wrongheaded. It provides a veneer of regulatory cover. It's a scam. It's laden with false diagnoses and fatal flaws. It lets Wall Street continue business as usual.

It's secret provision permits looting depositor bank accounts. Four months ago, formal strategy was drafted. It's ready when America's next crisis hits. Graham outlined three steps:

(1) Designate systematically important banks.

(2) Control those deemed at risk of default.

(3) Write-down depositor savings in value. In other words, loot them. Money thought safe is gone.

Few Americans understand. It's not publicly acknowledged. Legislation already was drafted. FDIC implementation rules are ready. Eventual crisis is virtually certain. Only its timing is unknown.

Now's the time to protect assets too important to lose. Forewarned is forearmed.

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net. His new book is titled How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War. Also visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening. http://www.progressiveradionetwork.com/the-progressive-news-hour/


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24 comments:

Love To Push Those Buttons said...

I'm surprised the bank runs haven't started already.

Anonymous said...

pull your cash out ASAP - leave only enough to pay bills - with your cash, buy ammo(if you can find it) Silver, TP, Supplies...

Anonymous said...

WHY I DONT HAVE ONE

Anonymous said...

lol ... most of us peasants just have enough in accounts to pay the present month's bills. Poverty prevents the need for bank runs.

Anonymous said...

Marxism & socialism is failing right in front our face, all of those who have fell for the crap from DC will wake up homeless & broke on the land the for Fathers dies for! Disband the the US corporation & return it to the rule of the people, not bought courts & politicians who are set for life by tax payers money! The train wreak is a long one!

Anonymous said...

you are suprised bank runs haven't started yet...
LOL!
americans are too ignorant of everything to know anything

Olivier Janssens said...

Buy bitcoins and gold

Anonymous said...

Is there anyplace safe for your money? I am a very small business and I would love to read some suggestions. I only put enough money in my personal checking to pay bills.

Hide Behind said...

Does that mean I am not an american if I know americans are too ignorant of everything to know anything?
Never could figure out everything. As there always seemed to be too many things including everything and anythings and somethings getting in way of finding a solution
The man said trainfare WAS$9:79 one way which took care of that problem if I wanted to go there that is.I asked him what it cost now and he said it was $9:79 I hollered that I wanted to know what it cost now not what it was when I asked and he told me it is $9.78 and I thanked him.

Anonymous said...

Get some jars and dig holes in your yard...bummer for those who don't have a yard...

LadyRavenhaire said...

Th US government is not going to take depositors funds Unlike Europe & Cypress,in our country80% of the population doesn't even have $500 to scrape together for an emergency. As we know the rich never pay anything. So our government won't take depositor money. Today they are voting to change the COLA, I.e. cost of living adjustment for social security, so seniors will not see a COLA adjustment. This is how in this country they finance thebanks. Our government just raised the payroll tax to 6 1/2%. Raising $140 billion. Our government said it would raise taxes on the rich, but their taxes only went up $30 billion. $140, $30 billion. Who really got the tax raise. Moreover, our government keeps raising the social security pay-in, althought social security has 4x as much money than its paying out now. Where does this Extra $ go? Not to raise the poverty level sums the elderly get on social security, but To our government as a supposed loan.

Anonymous said...

Jesus says render to Ceasar that which is his, but you better render your souls to God!

If the Satanists do this (and tht is what these bankers are) no one will deposit money in their fractional reserve system again. I'll just take may paychecks to a quick cash place, lose $20 and be the better for it.

Anonymous said...

This is looting, a bank heist and then some: It's called Cannibalism.

Anonymous said...

Pension funds will be in the mix. Since most people in the USA don't have one, the majority will support the theft of pension dollars from those who do.
The 'me first' greed oriented mindset of the people of the USA can always be relied upon by our rulers........who then use it against us.

Media Mike said...

These are my FIVE STEPS TO FREEDOM
1. if you get direct deposit, change it to a paycheck
2. CASH the paycheck, do NOT deposit it
3. Minimize all bank deposits
4. Don't buy on demand! (ignore the commercials)
5. TRADE, BARTER, even exchange cash but DON'T DEPOSIT IT

The banks create 9x the money you deposit OUT OF THIN AIR over time, and add that to the national debt.

If we stop depositing, the beast starves.

Anonymous said...

Your not getting it.
What is it you think you OWN??

Look at the Funny Money Fed Reserve Note which means Debt as in note. It is yours for usage only. If they demand it back and you have buried it Lord Help you for defacing or degrading their notes.

"Agent Albert look what this guy did to those notes, all milldewed and some tearing damage" "Burns take some pictures and take him and his Misses into custody, better did up that Veg garden while your at it" "Why can't the Agra team take down the garden, lst time i got a lot of blisters".

How about you car; do you own that? The Title is exchanged for a state registration and the state uses the title as Asset for issuing bonds. State declares they can't meet debts then whose car is it? When its auctioned off a Mexican maybe driving it.

Your house - you see most of them are already gone via paper to some foreign banks even cyprus. So who owns that.

You and your family, signed onto Social Security so WHO owns you.

Get on with the recommended Rope Program and determine what you want back that you thought you owned. it's the only way you will recover.

We are Legion..

Anonymous said...

All of this leaves me suspicious. there are those that say it wont happen here,but there is historical precedent.though they didn't loot the cash from accounts in the banks at that time, they did however loot the gold. This excerpt was found on WIKI.

Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.

If they did it once why wouldn't they do it again. I hear lots of buy gold and buy silver talk. Yet there is no mechanism for the average guy to exchange gold and silver at the local market or gas station. Doesn't make sense to buy those metals when it might be easier for the average person to barter with food, fuel, or ammo if the system got that off track. With that in mind I'm suspicious that they wouldn't take our deposits,especially if the system is that far gone.

Anonymous said...

"If we stop depositing, the beast starves."

Maybe?
Or maybe the beast just gets exactly what it wants from us (like it always does) and the banks go bust. Can't think of a better way to introduce the one world currency (which will solidify one world government) that has been their plan from day 1.
Currencies all over the world will be pegged to have a conversion ratio to the new NWO dollar and people will simply be credited with the new units based on their old balances.
Don't like it? Fine, starve and die, because the brand new currency will be 100% electronic and will be loaded on your bank card.

Cash will be illegal, other than for a short (very short) time period where old cash dollars can be converted at a bank to new electronic NWO dollars.
Got any tax debts, old parking tickets, unpaid utility bills? Fear not, the new system will be happy to deduct them from your balance and it will thank you for your patriotism.

Chance W. said...

I think I speak for many others when I say if the banks seize my money, I promise it will be given back to me one way or another. I would not hesitate to treat them like a thief caught in my own home.

Zellie said...

I don't think we are ever going to make it a complete cashless society; I think too many other things are going to happen to prevent that. Do stock up on the basics, plant a garden, partner up with other like minded people to cover bases you cannot. But remember there are many forces at play: collapse of $ as world reserve currency; massive more illegal immigration, more undeclared illegal wars which will lead to a draft which will lead to protests, food shortages, high inflation, which will lead to more protests, some unforeseen natural disasters, more false flag events, more oppression and restricting of rights. More massive job losses and more uncontrollable debt. There are many more, and all these forces do not work together. The system as it is built, will fail, because all contingencies cannot be prevented even by all powerful Federal Reserve/Central bank bought leaders.

GrinNBarrett said...

Being poor has its advantages nothing to steal.

Anonymous said...

Everyone is back to work guys.

The end is near

Anonymous said...

Get those funds and assets out of the banks - Safedeposit Box, they do not need a Key, just a portable drill - Now Now - Next Friday or payday may be too late.

Look at Cyprus and tell yourself again - Oh they will not do that here. What do you think they are preparing all the Ammo - Tanks - Mobile Checkpoints for - Practice? It will come like a thief in the night and not in physical form. Just a little click on the program and a Special Tax (AXING) move will take whatever percent or even Convert it to the New Money - What New Money - Perhaps SIX of the old Dollars for ONE of the New Dollars. Where do we obtain that number - Plug One dollar into this site: http://www.dollartimes.com/calculators/inflation.htm with the year 1968 as off the gold standard. Oh you will still be able to buy things but on what job wage?

Some 48 Million on Food Stamps, what if they get hungry and you have food.

Some 100 Million with No Good Job, and unfortunately, you have one. Friday night payday
and your on your way homw through the new nomansland.

Get Rope and ge to work on these Problem children.

We are Legion…

Anonymous said...

I will gladly and die a warrior, rather than give in to a New World Order run by Satanists. Mark m words thugs, the American people, we are coming for your traitorous asses and we will be victorious. For truth and Justice is God's way, the way of our Creator. Thy Kingdom come it will be done, on earth as it is in Heaven, and those treacherous filthy souls that are trying to stop God's word, may they forever burn in the hell of their own making.

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