The Coming Big Bank Grab: Get Your Money NOW!

If this isn’t outright fascism, what is? Must our leaders grow moustaches in the style of Hitler and prance around with swastikas on their forearms?

Fed eyes Nordic-style nationalisation of US banks

The US Federal Reserve is examining the Nordic bank nationalisations of the 1990s as a possible interim solution to the US financial crisis.

The Fed has been criticised for its rescue of Bear Stearns, which critics say has degenerated into a taxpayer gift to rich bankers

A senior official at one of the Scandinavian central banks told The Daily Telegraph that Fed strategists had stepped up contacts to learn how Norway, Sweden and Finland managed their traumatic crisis from 1991 to 1993, which brought the region’s economy to its knees.

It is understood that Fed vice-chairman Don Kohn remains very concerned by the depth of the US crisis and is eyeing the Nordic approach for contingency options.

Emphasis added by me.

OK, if that doesn’t just scare the living shit out of you, you’re either too goddammed stupid to be reading this blog, or your brain is too goddammed medicated to understand those words, or you’re one of the evil motherfuckers hoping to cut himself a nice slice of cheese from this.

With control of money comes control of everything else.

They can tell you how much money you can withdraw.

They can tell you when you can withdraw it.

You have an medical emergency for your child and have to pay in cash? If you need to get that cash out of a bank, you’re shit out of luck if the amount is greater than the government permits or the day you need to withdraw it is not the day you’re allowed to withdraw it.

Let me step back so you understand just how monumental this is.

We have been preached to for over two decades now about the “free” market. We’ve been told that Government intervention is evil. That Government is incompetent. That we, the people, know how to best handle our affairs.

Day after day, year after year, in election after election, in Presidential speech after Presidential speech we have had this drummed into our heads.

And now, suddenly, the Government itself is considering stepping in to basically grab all the money — and that’s a good thing?

What happened to our ability to make our own decisions?

You can bet your life this is going to be even worse than Great Depression 1.0 now.

Wikipedia: Emergency Banking Act

Farming in the 1930s: Penny Auctions

During Great Depression 1.0, FDR declared a “bank holiday,” which closed all banks — neatly cutting people off from their money. That could happen again:

Which bank is going to follow the Bear?

“I would not be surprised to see an emergency bank holiday announced. That hasn’t happened since Roosevelt.” During the Depression, 75 years ago almost to the day, Franklin Roosevelt declared a four-day bank holiday, which stemmed a frantic run on banks.

Emphasis added by me.

Do you think if banks start reporting to the Fed on unusual withdrawal activity by their depositors that D.C. won’t move fast to act?

This is very, very, very bad.

All of you truckers out there who will be idling your rigs in solidarity beginning midnight tonight: Make sure you have enough cash on hand to survive!

Explore posts in the same categories: C.O.A.T. - Belief, C.O.A.T. - Money, C.O.A.T. - Politics, Depression 2.0, Other, Politics