If you came over from YouTube to hear the rest of the show you can start at the 12:00 mark.
In this report we will discuss the count down to the economic collapse news and in addition to the news we will delve into what to expect with the Cyprus. The signs are all around us and we will start counting down to the economic collapse by using the past to predict the future.
Please check the Sentinel Alerts for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. Please review the Economic Collapse Timeline to see additional events that are needed for the government to complete the economic collapse.
Listen Closely: “Tick, Tick … Boom!” Wake up, It’s An “Impending Crisis,” Dead Ahead! – Everything is pointing to an economic collapse, the experts have been saying this for a while now and when the FED and politicians start telling you there are no bubbles and everything is ok, this is when you start to worry and this is when you know its close.
Mar 2013 “We don’t have an immediate crisis in terms of debt,” Pres. Obama. “In fact,” added the president, “for the next 10 years, it’s gonna be in a sustainable place.”
Feb 26, 2013 – Federal Reserve Chairman Ben Bernanke said he doesn’t see any evidence yet of a stock bubble
Exclusive: No More Drones for CIA – So the entire drone program will now be under the military. Hmmmm, red flag anyone. We have to look back at the answer Eric Holder gave to Rand Paul.
“Does the president have the authority to use a weaponized drone to kill an American not engaged in combat on U.S. soil?” Holder’s letter reads. “The answer to that is no.”
They key phrase here is “to kill an American not engaged in combat on U.S. soil” what happens if Americans are engaged, what is the definition of combat – a fight or contest between individuals or group | conflict, controversy. There answer to the question was “no” but only in response to “not engaged in combat”. So now the military is setup to use the drones in a combat situation.
Disarming American citizens, Obama style – Since Diane Feinstein’s bill was shot down they now need to change direction. They will now use the UN Arms Trade Treaty to get the guns. They will not stop, it is part of their agenda to remove all guns, ammunition from the American people.
- Most people, including conservative Americans thought the United Nation’s Arms Trade Treaty (ATT) was a dead issue, or at least not a threat to U.S. gun owners based on a number of assumptions relating to international treaties and U.S. Constitutional law. Like everything else with the Obama regime, however, things are never what they appear, nor are they as simple as we are led to believe.
- But first, let it be made clear that Barack Hussein Obama is on record as being against the private ownership of firearms by American citizens. This might surprise anyone who listens to the hysterically-pitched assertions by such Obama lapdogs as Chris Mathews and Lawrence O’Donnell, for example, who contend that Obama has posed no threat to private gun ownership as President. Such assertions are only convincing to those who have not done any research into this matter.
- It should also be noted that on February 26, 2013, the American Bar Association’s Center for Human Rights issued a white paper on the U.N. Arms Trade Treaty, concluding that “the proposed ATT is consistent with the Second Amendment.” A review of this four-page document reveals certain questionable assumptions on which that conclusion is based.
- This is a warning to all Americans that the Obama support of the U.N. Arms Trade Treaty can lead to some “UN-intended” consequences to American’s right to own and bear arms. Americans looking at this issue are failing to look at the larger picture, which is the ultimate subjugation of the United States to a global governance. This can most effectively be accomplished through the disarmament of its citizens, especially in the face of violent outbreaks as the U.S. and the world economic systems begin to unravel
Yesterday broadcast pump and dump.
1929 Reaches its closing peak for the bull market of the 1920’s, at 381.17.
1972 Rises 6.09 to close at 1,003.16, first close above 1,000.00
1974 Closes at a 12-year low of 577.60, ending the worst bear market since the ’30’s.
1987 (Jan ) Rises 8.30 to close at 2,002.25, first close above 2,000.00.
1987 (Oct ) Plunges a record 507.99 to 1,738.74, a drop of 22.6 percent that became known as the Black Monday crash. . .
This is the largest percentage drop of the DJIA. –
See greatest DJIA Losses of all time here: DJIA Gains and Losses
2000 (Jan ) Rises 140.55 to close at all time high of 11,722.98, first close above 11,600.00 and 11,700.00.
2000 (Apr )Falls 617.78 to close at 10,305.77, second largest dollar loss in history, down 5.66%.
2001 (May) Rises 36.18 to close at 11,372.92 recovering 1,983.44 (85%) of the 2,333.50 decline since Jan 14, 2000.
2007 Rises 120.80 to close at 14,164.53, first close above 14,100
The DJIA has risen 6,878.26, or 94%, since the low point of Oct 9, 2002, 5 years ago
2013 March 20 14,515
2012 June – Cyprus appeals to European Union for financial assistance to shore up its banks, which are heavily exposed to the stumbling Greek economy
2012 November – Cyprus says it has reached an “in-principle agreement” with the European Commission, the European Central Bank and the IMF on the terms of a bailout deal. The actual size of the bailout is to be determined following an investigation into the country’s ailing banks.
2013 February – Democratic Rally conservative candidate Nicos Anastasiades beats AKEL Communist party candidate Stavros Malas by a large margin in the presidential election run-off and succeeds Demetris Christofias as president.
2013 March – President Anastasiades secures 10bn-euro bank bailout from the European Union and IMF, subject to parliamentary approval, but depositors have to bear a substantial part of the burden.
Q: Isn’t taxing bank deposits a little extreme?
A: Not as extreme as losing all your money in a complete banking system meltdown. Thanks to years of corporate and government folly, Cypriot bank depositors are down to one choice: They can lose all of their savings to a collapse, or some of it to a pesky tax.
Q: When will the European crisis be over?
A: Maybe never. Cyprus is the fifth of 17 euro nations to need a bailout. Every month, some eurocrat discovers a new way to avert a seemingly inevitable collapse. The Cyprus Solution is the most creative innovation yet.
Q: So the bank just confiscates its customers’ money?
A: Of course not. That would be misappropriation. In the Cyprus Solution, the government levies a tax on bank depositors to facilitate a bank bailout. It’s all legal. See?
Q: But that’s what it is, right? The Daily Mail, a British newspaper, called it “The Great EU Bank Robbery.” Russian Prime Minister Dmitry Medvedev called it confiscation. “This practice, unfortunately, was very well known during the Soviet period,” Medvedev said.
A: Theft, confiscation, taxation — these are all really harsh terms. It’s better to think of this as a negative interest rate.
Q: Why should savers be punished like this?
A: Savers are chumps. They don’t know what’s going on. They must not read the global financial news. There’s more cash in the world than assets to buy. Besides, they’ve turned a blind eye to institutionalized corruption for decades. What did they think was going to happen?
Q: And why do governments think they can overspend until they reach the breaking point?
A: They think lobbyists are constituents. They think corporations are people.
Q: Isn’t there another idea here?
A: Yes. In Cyprus, officials also discussed tapping pension funds. A similar idea worked in Illinois for a while, too, until the Securities and Exchange Commission recently charged the state with securities fraud.
Q: If bank depositors see this coming, won’t there be a run on the banks?
A: No. Eventually, ATMs will stop spitting out money. Then you have a bank holiday. Then you say the banks are closed until lawmakers can sort out the mess.
Q: Won’t financial markets panic?
A: Not really. All you have to do is insist this is a one-time event. Markets love one-offs. For all the talk about laissez-faire capitalism, markets prefer confiscation to liquidation.
Q: What about all these people protesting in the streets?
A: There are always people protesting in the streets. They can get in line with all the other people protesting in the streets.
Q: How do you get around the basic unfairness of all this?
A: Declare that money is evil. Cyprus has been called a Russian money-laundering machine. You may have also read that Slobodan Milosevic funneled money through Cypriot banks to pay for his genocidal acts of war in the former Yugoslavia. The European Union says it doesn’t want to bail out evildoers and money launderers, so it insists on taking some of their loot for the bailout. Money, being fungible, is always used for some evil purpose. You only have to say so.
Q: This might work in a communist or socialist country, but could it really work here?
A: What? You thought you were living in a democracy? The Cyprus Solution is an example of what happens when banks run out of money and an overspending government can no longer afford to bail them out.
Q: So why put money in a bank?
A: What else are you going to do? Stuff it in a mattress?
What can we expect
Banks might not open on Thursday or Friday
When the banks open up will people make a run on the banks?
If bailed out, will people trust the banking system?
Will they limited to how much they can withdraw?
US Bankers To US Depositors: “Don’t Panic, Nothing To See Here” – FDIC is great when 1 or two banks fail, but on a large scale I don’t know if this model works. Let’s say there are approximately 200 million adults over the age of 18 in the U.S. If each one takes $1,000 out of the bank, the amount withdrawn is $200,000,000,000 (200 billion). If each person withdraws $10,000, the amount withdrawn is 2,000,000,000,000 (2 trillion). Do you think the bank have this type of cash on hand? Hmmmm, are we really safe? The banks would run out of money and they would close (bank holiday). At this point the FDIC will not be able to handle the claims because when the banks run out of money and close (bank holiday) people will want all their money and this amount is much larger than 2 trillions dollars.
- While the crisis in Cyprus is a real concern for depositors in Cypriot’s banks, it has no implication for depositors in U.S. institutions. Depositors in U.S. banks are insured up to $250,000 and no insured depositor has ever lost money in a bank failure. The U.S. banking industry has rapidly returned to health with strong earnings, lower losses and significant increases in capital.
- The FDIC insurance fund has over $25 billion in reserves and the banking industry – which bears all the financial costs of supporting the FDIC – pays over $12.3 billion each year to assure adequate funding.
- Simply put, U.S. insured depositors are safe and their deposits are protected by a strong FDIC fund, a financially secure banking system and the full faith and credit of the U.S.
If everyone makes a run on the banks and starts to withdraw there will be a bank holiday. Just like we saw in 1929, 2008
The government will tell those who are on food stamps there is nothing to worry about because you can still get food.
The Government will let us know that we can charge or use debit to purchase but can not withdraw.
Now depending how it plays out in Cyprus the Government can always fall back on a Cyber Attack hitting the banks. They have been telling us about the banks, grid getting hit this might be their chance to use it. Close the banks before the bank runs because of another countries cyber attack. Completely gets them off the hook.