Re-posted by Nicholas Stix
I hope that Lowell Ponte’s wrong, but I fear that he’s right.
A tip ‘o the hate to Conservative Free Thinkers.
Published on Feb 6, 2014
Do you think your bank account deposits are safe? Don't bank on it.
That's according to Lowell Ponte, former editor of Readers Digest and think tank futurist.
According to Ponte, last month, Stephen Cotton walked into London-based giant HSBC to withdraw about $10,000 dollars. But the bank refused to let Mr. Cotton have money from his own account.
Why? Because they said Mr. Cotton couldn't provide the bank with a satisfactory explanation for what the money was to be used for. Of course this enraged Mr. Cotton since he was asking for his own money.
But Lowell Ponte said Mr. Cotton was mistaken about just whose money it was. According to new banking laws, your deposits belong to the bank. All you 'own' is a deposit receipt, or an IOU.
American politicians have watched how some European countries are getting away with raiding the bank accounts of their citizens and since U.S. lawmakers are desperate for more money they are considering new ways to grab their 'fair share' of the $20 Trillion now in private U.S. retirement accounts - bringing fresh meaning to Obama's proposed "MyRA" program!
Ponte says U.S. and other Western governments have agreed that future bank crises will be handled not by taxpayer bail-outs but by "bail-INS" that first seize a banks' "unsecured assets" to pay the government. Ponte said, "If the government seizes your bank's funds, you can kiss your assets goodbye."
But, you may ask, "What about the FDIC? It says right on my bank window that they guarantee my money.
Here's a scary fact: The FDIC has only $27 Billion, less than one percent of what might be needed to cover more than $7 Trillion of deposits that could be lost in a national financial panic and storm.
Remember the recent financial panic in Cypress when depositors woke of to find their bank accounts frozen? That happened just months after the FDIC and Bank of England signed a joint document allowing government to seize customer deposits as part of a bank's property.
So, what's to stop that from happening in the United States? Nothing.
And it doesn't stop with banks. Cash deposits are only the beginning. IRAs and other retirement accounts are in the crosshairs for consideration as alternative sources to pay down government debt. Ponte reminds us how in 2008 Argentina replaced its citizens' cash savings with government bonds, valued at only 27% of its currency. Americans also might soon be forced to by trillions and trillion in Federal debt.
All of this and more are covered in Lowell Ponte's new book, "The Great Withdrawal," which he is making available for free for the asking as a public service, courtesy of Swiss America.
Please forward a link to this video to your family, friends and people you are concerned about.
Ask for your free copy of "The Great Withdrawal" by calling: 800-289-2646
Banks are essentially an arm of the government and Wall Street, if you think your money is 100% secure there you are a fool. US banks already have withdrawal "rules": Filling out a CTR (cash transaction report) for amounts over 5,000 if over 10,000 a report has to be filed notifying the IRS and Homeland Security; not allowing international wire transfers or limiting depositors from withdrawing more than a certain % of their accounts. Now these things don't stop you from clearing your accounts with banks but they slow the process down and create impediments to the free flow of your personal wealth.
ReplyDeleteHSBC was likely a test run to see how the public reacts to more restrictive limits, I read they were going to "review" the new policy so may change things - for now, but we can be sure that new and more stringent rules will be put in place both abroad and here in the US to make sure you have more of a difficult time accessing your money. It's all done ostensibly, of course, to prevent terrorists and drug runners from moving cash around unmonitored.
Nobody know when Wall Street is going to requisition our bank accounts. There's innumerable books predicting all sorts of apocolyptic financial scenarios. Most americans think it's crackpot thinking because it's never happened (in their lifetime) but it could very well happen. The only thing I disagree with the prognosticators on is "when" it's going to happen. Nobody knows when, maybe tomorrow maybe not in my lifetime but it will eventually.
Best thing for anyone to do is, if you have cash, buy yourself a spot of land where you can grow your own food and have some self sufficiency so you're not dependent on the cash system to survive. You might get mocked as a "survivalist" but the day may come you'll be seen as having great foresight. Jerry
Buy assault rifles, handguns and PLENTY of ammo. It's EASY to build a database of politicians who will be at the forefront of any such confiscation. The proper response of such fiscal theft is to HANG THE COMMUNIST THIEVES. Of course, they will be protected by a phalanx lawyers, judges, news media shills, Black and Hispanic leeches as well as the police and army. It will be a BLOODY street conflagration, but this IS EXACTLY WHERE all the gun control and taxation and judicial excesses have led us to.
ReplyDeleteThey expect absolutely ZERO physical push back, and 100% lawful compliance, because, that's what ALL the news media will shout...