If you listen to the recent interviews conducted by Alex Jones, ( http://www.youtube.com/watch?v=13pXBAMwy-Q) you will hear his guests make the following points (and many more):
• JP Morgan, Bank of America, Citibank and other major banks are all insolvent. Their financial collapse is inevitable.
• Your monthly statements from these financial institutions are total fraud, as that money doesn’t even exist in these banks. It’s like Bernie Madoff, but several orders of magnitude worse…
• The Goldman Sachs criminal banksters are brazenly trying to economically conquer the world by destroying those national leaders who oppose their toxic debt schemes while placing their loyalist economic terrorists in key positions of political power. Refer to Confessions of an Economic Hit Man by John Perkins for more details on how this actually works.
• The economic devastation now being experienced by countries like the USA is a deliberately planned scheme of economic destruction designed to allow the global banking elite to confiscate enormous resources from targeted nations. Some nations have been forced into giving up their oil fields, water supplies and even their financial sovereignty to be used as collateral for global bankster bailouts.
• There are already increasing calls for bankers to be executed for engaging in these crimes that are effectively stealing trillions of dollars (or equivalent in local currencies) from the people of our world. While calls for such drastic action may seem extreme at the moment, no doubt more people will join in such calls as they begin to lose their pensions and savings accounts when the financial collapse tidal wave reaches their personal bank accounts.
S&P downgrades credit risk ratings a dozen global banks
As yet more proof that the global financial house of cards is about to violently collapse, Standard & Poor’s took action late yesterday to downgrade the ratings of key globalist banks (http://www.foxbusiness.com/industri…). Banks downgraded by S&P include:
• Wells Fargo
• Bank of America
• Goldman Sachs
• JPMorgan Chase
• Morgan Stanley
… and many others. These ratings downgrades stemmed in part from the realization that failures of these banks may not be covered by governments which claim to insure their deposits.
The FDIC, for example, can only cover a few hundred million dollars in bank losses, yet Bank of America recently engaged in some particularly wicked transactional voodoo that slopped a jaw-dropping $75 trillion (yes, with a “T”) worth of derivatives risk on the back of the FDIC (http://seekingalpha.com/article/301…). It doesn’t take a mathematical genius to realize that if just a tiny percentage of these BofA derivatives fail, the FDIC is instantly and irreparably bankrupt.
So much for your own bank account being “FDIC insured,” huh? Who is insuring the FDIC?
In other words, if you have deposits with these large banks, there is a very real risk that those deposits may suddenly disappear in much the same way that customer accounts at MF Global recently vanished, never to be returned.
It’s clear from all this that the financial quickening is upon us. The inevitable financial corrections stemming from the global spread of toxic debt are now at our doorstep. While it is possible that clever bureaucrats and finance fixers may be able to rig temporary solutions that delay “the big correction” a while longer, there is no questioning the fact that such a correction is inevitable — and the longer it’s delayed, the worse it’s going to get.
By historical comparison, what our world is about to experience will make the economic misery of The Great Depression look like child’s play. Think 50% unemployment, the collapse of multiple global banking giants, police state Martial Law in nearly every nation, and the eventual payout of perhaps ten cents on the dollar for all the masses who once thought they had FDIC-insured savings accounts.
Stay informed. Read NaturalNews for regular updates as this situation develops. And take active steps right now to diversify your assets. Buy some farmland instead of sitting on cash, for example, because there will be a day when your dollar will be worth less than dirt anyway. You might as well trade those dollars for dirt while you still can.