Friday, April 12, 2013

Pt.2: Giving Canadians and everyone,everywhere, a Cypriot Style Haircut- “to the wood”

I am strongly suggesting that you all read Part 1,before jumping into this section:

Pt.1: Giving Canadians and everyone, everywhere a Cypriot Style Haircut- "to the wood"

 

Back to the plan for plunder: the so called budget:

“This will reduce risks for taxpayers"

How will this reduce risk for taxpayers? Aren’t depositors and taxpayers pretty much one and the same?
Of course they are!

"The Government will consult stakeholders on how best to implement a bail-in regime in Canada
Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants"


-Consulting with stakeholders is, of course, conspiring with banksters. 
-Implementation timelines and smooth transitions are code words for bank shutdowns while your money is pilfered.

Quoting again from Mr Walkom @ Toronto Star

In the 2008 meltdown, governments — particularly in Europe and the U.S. — ponied up the cash.

"particularly in Europe and the US" Notice he did not say only in those nations. He just said 'particularly'
A not so clever way of misleading Canadians on the fact that in 2008 the Canadian government ponied up taxpayer dollars to bail the Canadian banks out despite the lies of Canada's leadership.

 Here
"There is no question, no possibility of bailing out the banks. The banks aren't seeking to be bailed out and the government won't be bailing them out. So that isn't going to happen," Harper said.

Let me remind you all......

.The Government has no money other then what is extracted or is yet to be extracted from the people...
And, judging by all the planned tax increases across Canada the people are most definitely set to have their pockets picked every which way.
So, about those 'particular' governments ponying up cash????? That does include Canada.
Not just the US. Not just 'certain' European nations.
Mr Walkom fails entirely to mention the fact, because he gets a paycheque, that Canada also bailed out it’s banks in 08.   On the qt, of course. qt: defined as, on the sly

Since I don’t get a paycheque, I'm very  happy to remind you all in Canada, that yes indeed, the government of Canada bailed the banks out! In fact, that topic was covered here at the time

Canada's banks were supposed to be in good shape? Canada's banks were supposed to have been insulated from the "credit" crisis? So these last few news reports leave me a tad concerned.
Why these bailouts? Why the accounting changes to bring Canada's banks in line with "elsewhere"? Is there something else, coming down the pipeline? I have a sneaking suspicion there is more here then meets the eye.

It appears my sneaking suspicion was solid. I followed up with more bailout news in 2010

Clearly, the Canadian banks have been  bailed out on two previous occasions at tax payer expense
Despite the lie filled claims of  PM Stephen Harper and Finance Minister Jim Flaherty.

Recall at the beginning of this epic post; I painfully reminded all, that this  "hair cut" policy applies globally?


All Depositors, Secured and Unsecured, May Be at Risk
The bail-in policy for the US and UK is set forth in a document put out jointly by the Federal Deposit Insurance Corporation (FDIC) and the Bank of England (BOE) in December 2012, titled Resolving Globally Active, Systemically Important, Financial Institutions.


Excerpted from an article:

Winner Takes All: The Super-priority Status of Derivatives

 Cyprus-style confiscation of depositor funds has been called the “new normal.”  Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including state and local governments, may be at risk. Derivatives have “super-priority” status in bankruptcy, and Dodd Frank precludes further taxpayer bailouts. In a big derivatives bust, there may be no collateral left for the creditors who are next in line.


Recall the previously mentioned derivatives and the derivatives bubble?
Did you notice the images used in Part 1?
Banks and their derivative exposure....

                                              
                                          http://demonocracy.info/infographics/usa/derivatives/images/demonocracy-derivatives-citibank.jpg


Citibank: Citibank has a derivative exposure of $52.102 Trillion dollars.


Why Derivatives Threaten Your Bank Account

The big risk behind all this is the massive $230 trillion derivatives boondoggle managed by US banks. Derivatives are sold as a kind of insurance for managing profits and risk; but as Satyajit Das points out in Extreme Money, they actually increase risk to the system as a whole.

 So, we have covered Canada's budget plunder. We, are all clear that this plunder is to be applied globally.
Are you at all interested in how long ago this plunder was planned?
As far back as 3 years ago. Yes, readers in 2010. 'Bail in's' were on the agenda.

 From bail-out to bail-in: Economist : Jan 28th 2010
Yup, more then three years ago!


WHAT should policymakers do when faced with the potential failure of a large bank? In 2008 officials had to choose between taxpayer bail-outs (bad) or systemic financial collapse (probably worse). Various ideas to make finance safer, like contingent capital and living wills, are circulating today. But the central issue of bank resolution, perhaps the most vexing aspect of the financial crisis, has not been clearly addressed.

A “bail-in” process for bank resolution is a potentially powerful “third option” that confronts this problem head-on. It would give officials the authority to force banks to recapitalise from within, using private capital, not public money......
Depositors money is the public's money. Just thought I would mention that, yet again!

Ah, Penny when is this post going to end....???

I have worked on this post since the Easter weekend. And have put much thought into this all.
The potential for despair amongst the global population, due to governments' colluding to save banksters from their self-inflicted gambling ruin, created by themselves in their colossal derivatives casino, while fully intending to cause catastrophic harm to the people they, 'the democratically elected governments', are supposed to be serving is mind boggling to contemplate!!!!!!.......
I am appalled, shocked, stunned, disgusted & dismayed.
Though I should not be. It has been clear for a long time now that the government is owned.
Lock, stock and barrel. By the banksters.

Plundering the people will not save us from bank failures. The banks should fail. They have earned it, through their folly and the people should not suffer for the avarice and greed of this psychopathic bunch of bloodsuckers.

Banks have made obscene profits for some time now. Their ponzi scheme has run it's course.

Last but not least:

If you do not understand what derivatives are or how they work.
Loosely speaking- because they do not work. How f'd up are derivatives?

What the heck is a derivative Part 1:






What the heck is a derivative Part 2:







A Secretive Banking Elite Rules Trading in Derivatives

Infographics: Derivative exposure

Financial Data - Banks  (for Canadian Banks)

20 comments:

  1. Hey all!

    Yes, it's a biggie
    If you have any comments, after you have read both parts
    Constructive ones, always appreciated
    Leave them here in Part 2
    It's just easier that way.

    The people are going to get taken unless they are made aware.
    Acting as individuals, collectively is key

    Maybe I am a dreamer, I don't know...
    Sigh....

    ReplyDelete
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    1. Oh and one more thing
      Yes, the videos came from Huffington Post
      But, in just a few minutes they described the insanity of the derivatives
      Short and simple
      Which made them very useful

      Delete
  2. "This is collusion of government and bankers to plunder the people on a global scale"

    That collusion is long standing. What is going on now is they are no longer pretending it doesn't exist. This is also a power grab by the Jewish/zionist faction of the western fascist establishment. Apparently their criminal network has amassed enough power that they feel now is the time to openly put the squeeze on everybody else - including their fellow fascists.

    It's long past the time to withdrawal one's use of their financial institutions. Their banks don't pay any worthwhile interest, anyways, dump the parasites, and put the squeeze on them instead. Time to stop being that frog sitting in the pan of slowly being heated water.

    вот так

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    1. Hey bot tak

      I agree completely the collusion has been longstanding.


      "This is also a power grab by the Jewish/zionist faction of the western fascist establishment. Apparently their criminal network has amassed enough power that they feel now is the time to openly put the squeeze on everybody else - including their fellow fascists"


      I am not sure what you are referencing exactly here?
      Are we talking as an example bankster vs banskter?
      Like US Fed vs EU central bank?
      Until one reigns supreme?

      "It's long past the time to withdrawal one's use of their financial institutions. Their banks don't pay any worthwhile interest, anyways, dump the parasites, and put the squeeze on them instead. Time to stop being that frog sitting in the pan of slowly being heated water."

      Just because it was worth repeating :)

      Delete
    2. Hey Penny

      "I am not sure what you are referencing exactly here?
      Are we talking as an example bankster vs banskter?
      Like US Fed vs EU central bank?
      Until one reigns supreme?"

      Something like mafia don vs mafia don, gangster rivalry. Or the way the Israeli-American terrorists in Syria will fight with each other over the loot they scrounge. It's the same sort of mentality.

      The bankster vs bankster would be large against mid size and small, mostly, I think. These oligarchs don't seem to have any national loyalties, so I don't think there is much daylight between such entities as the US Fed or the EU Central Bank. Both probably have many of the same oligarch associations. These are tools used by the banking oligarchs to keep and expand their power.

      Usually depressions are created in order to make it easier for large corporations to eat up the smaller ones and solidify their monopolies. The crash of 2008 seems to be the same. The banksters have been buying up all sorts of other corporations even before the crash. The crash makes it easier for them. These banksters are into everything, banking being only part of their interests.

      What I meant by them putting the squeeze on everybody else is twofold. First there is the usual large vs small, the corporate monopoly game. Second, I'm speculating that there is a zionist Jewish association among these oligarchs, probably originally centered among the banksters, and these guys are working to gain power for themselves over the rest of the oligarchy. Zionism seems to be part of it as Israel is treated as a sacred cow universally among the western fascists. That wouldn't be so if zionism wasn't a large part in the bonding between this group. I think this group of oligarchs are more closely associated with each other than most of the rest of the oligarchs are, and are essentially working to become the main power. So they are not only squeezing out the little guys, they are ganging up on other large oligarchs who are not Jewish zionists. The recent banking bailouts and whatnot have shown these guys have incredible power over governments in the fascist west, and I think the recent power grabs in places like Ireland and Cyprus (apparently they failed in Iceland) are mainly of these guys doing. Long term, I think they are working towards an eventual NWO type scenario where a few oligarchs run everything and these "top" oligarchs will be of the zionist Jewish "club".

      вот так

      Delete
  3. Way over my pay grade as far as solutions, but, my best guess tells me the tsunami is coming. Captains of finance won't skim much from my bank accounts. Something from nothing is still nothing. Torches and pitchforks may be just around the corner.

    As always, thanks Penny.

    ReplyDelete
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    1. "Captains of finance won't skim much from my bank accounts"

      any family members that might be harmed? Let them know?

      torches, pitchforks and worse
      Are long overdue

      You are welcome and thanks for reading :)

      Delete
  4. From my banking insider knowledge .. . you are correct Pen. Cyprus sure does smell like a test, and all signs point to our money getting taken at some point.

    This is why all of you with more than just break even money should invest in hard assets. A day like today (Dow Jones hugely down, gold fell dramatically as well - instead of rising!!!) is a day to scare off the heavy metal investors, and make them put their money in banker's pockets.Don't fall for it - in fact, if there was a time to buy gold and silver, it's right now, when the price is low.

    Keep your big money in equally hard assets like real estate (sollid, unchanging value real estate, not suburb fringe stuff) and other hard assets that hold value.

    Canada will be last among nations for a bank theft, so we will get lots of warning, I predict. And people won't believe it could happen here, so they will lose.

    Great research, thanks Pen.

    ReplyDelete
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    1. Hey Slozo

      How goes it? Glad to know you are lurking about :)

      Noticed that Gold is down? Seems strange on the face of it.

      Wondered if this was being done for the reasons you mention but also for the ptb's to buy up the gold cheaper for themselves

      I tend to agree that Canada, US will be amongst the last nations to be plundered.
      UK also
      If I had to guess, it would seem Spain, Portugal, Ireland, Italy
      I don't know what, if anything Greece has left to plunder.

      You are welcome Slozo :)

      Delete
    2. On the contrary, England will be one of the first of the 1st world countries to go down, I believe. All that's needed is a solid primer.

      Gold being artificially surpressed as always, yes. For the last few years, gold has done the opposite of what it should do when the market takes a hit - goes down as well. That's actually one of the clues as to its artificiality.

      The ptb already has a lion's share of gold - but as always, even that doesn't matter, as owning the system and making the rules makes that physical need unnecessary at times.

      But we can game the system and make it through by using our knowledge of what they are going to do.

      Delete
  5. Something big is cooking, no doubt.

    They are being very bare-faced about this. Is a problem-reaction-solution scenario (the dialectic again) being setup, perhaps for a new banking/money paradigm?

    Have you noticed how BitCoin is being hyped atm?
    I wonder if BitCoin (or some development of it) is going to be promoted as the solution to the problem of cash and thieving banks?

    The cashless society is 'on the agenda' - is this a device to push us along that path?

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    1. freethinker - The cashless society is 'on the agenda' - is this a device to push us along that path?

      I lean towards yes, it will be used to gain peoples' acceptance of the concept but will be outlawed once the bank mafia have their own model established because transactions are untraceable and so untaxable.

      Chipping is on the cards under Obamacare "for health reasons". Again once the concept is accepted...

      Delete
    2. Well done Penny, a clear explanation of how the politician aided bank mafia conspire to defraud the public.

      Cyprus was blatant theft thinly disguised by financial terms that fooled few. That was the obvious play, less obvious was the gold heist.

      The ECB could simply print the money for the banksters. That wouldn't get the gold, wouldn't punish the Cypriots for talking to the Russians about gas and about financial aid. The Cypriots should default, print their own currency and pay off other debts and tell the EC to eat it. The Icelandic model should be employed not just for Cyprus but for the EC and the banks, i.e. the IMF and ECB. They should all be in jail or preferably the stocks with a supply of hard boiled eggs to throw at them.

      Delete
    3. Freethinker:
      "They are being very bare-faced about this"

      I don't know if they are really?
      The elite asses are always in our faces
      Sure they try to hide it with fancy words etc. But, we can always see these things coming. What the elite asses count on/hope for is that no one is paying attention.
      But their are always the few that are. The elites could then label the few as 'quacks", "pacifist" whatever derogatory label is being used at the time.
      Of course in our present day we have the "conspiracy theory" name calling device
      Which no one should take serious.
      Unless you wish to be duped?

      re: bitcoin- it crashed. It is as much a ponzi scheme as the private central bank scam

      http://www.economist.com/blogs/babbage/2011/10/virtual-currencies

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    4. This comment has been removed by the author.

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    5. Clothcap: "Well done Penny, a clear explanation of how the politician aided bank mafia conspire to defraud the public"

      Whew! That is what I was going for, so it is good to know that i succeeded


      "Cyprus was blatant theft thinly disguised by financial terms that fooled few. That was the obvious play, less obvious was the gold heist"

      The gold heist. The crushing of the economy. Forcing Cyprus to gravitate towards Turkey and Israel to get the gas to market Then of course the fire sale of state assets
      Theft on so many levels

      Delete
  6. Good article Penny.

    Suppose the economy collapsed on Tuesday next week the 16th April 2013. If it did I would suspect Rothschild's fractional goldbacked private one world currency would be offered with in three days.

    The zionist puppet politicians in US, UK, Europe, Canada, Australia, New Zealand would do what their bankster owners tell them and lead their respective peoples to accept the private one world currency.

    That will be the beginning of a one world order according to the protocols of zion where the 99% are the serfs.

    ReplyDelete
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    1. Thanks mouser

      the one world order or new world disorder can only come to fruition if we continue to allow ourselves to be "moved along'

      Non-participation is key
      Start not participating

      Delete
  7. I will be back.. if I missed anyone

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  8. This is a useful article, but it does not discuss the solution to the problem: a return to Franklin Roosevelt's 1933 "Glass-Steagall" Bank Act, which completely separates banking from financial securities, insurance, hedge funds etc.

    Under Glass-Steagall, which was in effect in the United States up until it's destruction in 1999, only assets and liabilities which qualify as legitimate functions of a commercial/deposit bank would receive government protection through the Federal Deposit Insurance Corporation (FDIC), everything else would be left to fend for itself without aid of either a "bail-out" (by taxpayers), or a "bail-in" (by stealing bank deposits). Derivatives would simply be wiped off the books.

    Like many countries in the post World War II period, Canada had something similar, called the "four Pillars" which mandated that banks, securities brokers, insurance companies and Trusts be prohibited from mingling their activities. This was dismantled between 1987 and 1992.

    There is presently an active fight in many countries, including the United States and Canada to return to a "Glass-Steagall" banking separation.

    For example, there is presently in the U.S. Congress House Resolution 129, "The Return to Prudent Banking Act of 2013" of Representative Marcy Kaptur (D-OH) calling for a return to "Glass-Steagall". As of today, it has 58 co-sponsors in the House of Representatives, as well as rapidly building support from state legislatures.

    Those wanting to know more should visit the following sites: http://larouchepac.com/glass-steagall

    http://www.comiterepubliquecanada.ca/article1850.html




    ReplyDelete

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