POSSIBLE Bank shutdown (RUMOR article)

KSP wrote:

The whole article is worth the read, but the next last paragraph is what got my attention:

http://www.financialsense.com/fsu/editorials/willie/2009/0716.html

Here is the substance of the MarketWatch link:

In its current issue, HSL reports rumors that "Some U.S. embassies
worldwide are being advised to purchase massive amounts of local
currencies; enough to last them a year. Some embassies are being sent
enormous amounts of U.S. cash to purchase currencies from those
governments, quietly. But not pound sterling. Inside the State Dept.,
there is a sense of sadness and foreboding that 'something' is about to
happen ... within 180 days, but could be 120-150 days."

Yes, yes, it's paranoid. But paranoids have enemies -- and the Crash of 2008 really did happen.




HSL's suspicion: "Another FDR-style 'bank holiday' of indefinite
length, perhaps soon, to let the insiders sort out the bank mess, which
(despite their rosy propaganda campaign) is getting more out of their
control every day. Insiders want to impose new bank rules. Widespread
nationalization could result, already underway. It could also lead to a
formal U.S. dollar devaluation, as FDR did by revaluing gold (and then
confiscating it)."

(more from article - link)http://www.financialsense.com/fsu/editorials/willie/2009/0716.html

BRACE FOR BANK SHUTDOWN
Harry Schultz and Bob Chapman have revealed some harsh plans for temporary US bank system shutdown on or about September 2009. The story has been promoted by Peter Brimelow on MarketWatch for further publicity and legitimacy (CLICK HERE). See “Latest Schultz Shock: a Bank Holiday” which explains the US State Dept tipoff to the many US Embassies. The July Hat Trick Letter cites multiple confirmations solicited and given. My analysis goes on about speculation as to the motive, implementation, cover for criminal activity, and market impact. The USDollar would likely suffer a sudden quantum drop devaluation, followed by incredible pressure to avert USTreasury default. Despite the mockery in my email inbox for over two years, this inevitable inexorable disaster of upcoming USTreasury default is unfolding like a path growing more narrow and treacherous, with marauders on the hillsides lobbing Paulson Cocktails (ala Molotov) from strategic high ground. The creditors will show their strength very soon, very soon indeed! The unintended consequences would be endless, not the least of which might be final declaration of state of emergency state by state, or martial law nationally. Attempts at capital controls should be on the table of discussion soon, but that comes with a monumental backfire waiting to happen, as implementation seems next to impossible in less than two years time. Look for implementation of numerous plans to be circumvented by the reality of market forces, like elimination of the IRS-enforced income taxes in favor of a Value Added Tax nationally.

CHAOS WILL PREVAIL WITHIN SEVERAL MONTHS, PERHAPS A YEAR AT MOST. My deep suspicion is that a bank holiday would enable the forced merger of reasonably healthy banks across the nation with the dead zombies on Wall Street, to further spread their cancer. Never pass an opportunity of darkness to snatch and pinch bank deposits under the generous pressure exerted by the USGovt, in writing a new chapter to the Mussolini Fascist Business Model. On the more local level, as my friend SteveK says, “It is my belief that as the system continues breaking apart the so-called 'authorities' will not have the resources to cope. Not even close. Chaos will reign, especially in places like East Los Angeles.” Total agreement here. In fact, the breakdown will offer greater opportunity to the Powerz in (claimed, supposed) control for wildly amplified flow of rescue funds, even more to corner, confiscate, and steal. See the Iraq Reconstruction Fund, where $50 billion is missing. See the Hurricane Katrina Fund, where one dollar in three was marked as the object of fraud.

Copyright 2009 Jim Willie, CB
Editorial Archive

Jim Willie CB is a statistical analyst in marketing research and retail forecasting. He holds a Ph.D. in Statistics. His career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of economic credentials.

Jim Willie CB is the editor of the “HAT TRICK LETTER” Use the below link to subscribe to the paid research reports, which include coverage of several smallcap companies positioned to rise like a cantilever during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces. An historically unprecedented mess has been created by heretical central bankers and charlatan economic advisors, whose interference has irreversibly altered and damaged the world financial system. Analysis features Gold, Crude Oil, USDollar, Treasury bonds, and inter-market dynamics with the US Economy and US Federal Reserve monetary policy. A tad of relevant geopolitics is covered as well. Articles in this series are promotional, an unabashed gesture to induce readers to subscribe.