Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Broad Oak Blog (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Trust Is Breaking Down Wholesale, Hoarding Has Begun

% of readers think this story is Fact. Add your two cents.


The following started off on my grumble outlet Bearwatch, but looks like it’s getting more serious:

“You can’t trust anybody and the entire system is collapsing. What’s the takeaway from this? It’s to make sure you have every penny in your pocket.”

Gerald Celente, Trends Research Institute founder, following the disappearance of his six-figure holdings at MF Global shortly before he was due to take delivery of physical gold. More here.

Update: and the chorus swells…

“It is up to you to decide how much you’re willing to risk losing to a crook. If the answer is “none” or you cannot reduce the at-risk portion of your assets to what you’re willing to lose to fraud then you can no longer participate in the market at all, in any form, nor even do business with a bank.”Karl Denninger.

“Now may be the time to exit all arrangements not specifically guaranteed directly by the government, and bring your money home. And better yet if no guarantees are required, and no parties standing between you and your wealth.”Jesse.

… and swells…

“Ultimately, I will not be at all surprised to see Europe’s banking system shut for days while the losses and payments issues are worked out. People forget that the term “bank holiday” was invented in the 1930’s when the banks were shut for exactly the same reason.”Dr Pippa Malmgren

“The whole system is going down. Pull your money out your Fidelity account, your Schwab account, and your ETFs.”Gerald Celente (again)

- both quoted here.

“Odds of a big market breakdown are both high and rising.”Mish.

… and balloons…

“The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt.” - Jesse (17 Dec 2011)

This gels with a recent post by David Malone, where he discusses a little-known rider to the (US) Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The amendment concerned overrides bankruptcy protection protocols that are designed to treat creditors equally, such that if Bank A has “repo” or derivatives contract business with Bank B, and Bank B fails (or is forced into failure…), Bank A can grab the collateral straight away, not waiting for the trustee to sort out who gets what.

And if some of that collateral is money or other valuables you (an innocent third party) deposited with Bank B, hard luck, it seems.

Ostensibly, this legislation was to prevent systemic collapse as Bank B’s failure could make Bank A insolvent, then subsequently Banks C and D etc. But, as Malone points out, it’s also potentially an invitation to stronger (or at least, public-money-supported) banks to tip weaker ones into insolvency and grab assets, leaving other creditors to sue for their return (if they can afford to do so). Possession is nine points of the law, as the adage goes. Apparently, this deadly revision is written into banking legislation beyond America’s shores.

In turn, that reminds me of something Malone wrote back in October, reporting what a top Irish banker said to him, off the record:

“According to this very senior banker it was now known that the plan was all but agreed to re-capitalize all the banks but to the very minimum degree. France and Germany were agreed on this. As I wrote before I left, there has been a bidding war looking for the lowest amount.

“The horse trading and arguing is of a quite different nature.What is being thrashed out is a list, for use after this across the board, minimum bail out, of which banks will be saved and which will be left to die when they next have a problem. The horse trading is over who will be saved and who damned.

“In other words the decision has been reached that this is the last pan-Europe, all bank bail out attempt. After this it is recognized that Europe and the IMF cannot save all the banks. And so only the most systemically vital are going to be saved and the rest will be allowed to save themselves if they can or die if they cannot.”

It’s possible that a vicious internecine cannibalism is about to commence in the international banking industry, and plenty of innocent bystanders could suddenly find they’re hurt.

Little wonder, then that even bankers have started to hoard food.
___________________________________________________________________________
INVESTMENT DISCLOSURE: None. Still in cash (and index-linked National Savings Certificates), and missing all those day-trading opportunities.

DISCLAIMER: Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content.

Read more at Broad Oak Blog


Source:


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Lion’s Mane Mushroom Nootropic

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.


Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.


Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.


Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.


Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Total 14 comments
    • Anonymous

      Water, salt, sugar, food staples, fuels?

    • ElOregonian

      … And lots of ammo.

    • phylmike34

      yes,lots and lots of ammo.

    • bustedbowl

      ass wipe, seeds, beans, goats, chickens! Gas mask, and an alcohol still, solar panels, water filters and clear out your 401k\IRA pension, take the hit..because later you may not get anything at all.

    • chris from oz

      Don’t forget a shortwave radio

    • Lilith

      Alot of ordinary people have been seeing this clearly coming for years, its been so obvious its heartbreaking. What to do.

      Just stop playing leave the sparkly sh.. in the shops.

      When it comes help each other, love needs to play a bigger part than hatred even of those who dropped us in it.
      Then when everything settles down and the riots have stopped. We can have proper trials for the criminal elite who did this to the world

    • Surferess

      As people who are leveraged to the hilt with mortgage, home equity loan, credit cards, and all the modern conveniences, I don’t see how we can get away from the banks who basically own us and we have been in bed with, making all sorts of concessions along the way. I love the idea of getting away from the bank, but they own us currently. Those of us who live paycheck to paycheck, which is apparently a lot of folks, don’t have a lot room for choices. Also living on a short monetary lease makes it hard to buy a bunch of extra stuffs. At this point, we are going to have to trust in the universe, stay as positive as possible and help anyone else you can along the way.

    • HfjNUlYZ

      I have many guns, much ammo….yet I feel foolish! No match vs. a coordinated attack by Army or other organized unit. Lifelong hunter and could defend my property against majority of ordinary thief, yet I feel vulnerable to a ” National Guard ” type door to door confiscation of arms type invasion. Silver won’t do me any good when I am invaded by 12 armed guards that want to get in my gun safe. Gold won’t help me if I die protecting my rights.

    • Jude

      ALL THE MORE REASON to put your REAL trust in a personal relationship with Jesus Christ! Guns, ammo, food, silver, water, gold….CAN’T TAKE ANY OF THAT TO HEAVEN WITH YOU (OR TO HELL IF YOU REJECT JESUS CHRIST AS SAVIOR AND LORD)…AND YOU’RE RUNNING OUT OF TIME! John 3:3 John 14:6 Romans 1:18-32

    • Anonymous

      Money is just a fantasy. Resources are real.

      The FED make money out of thin air and this in turn makes the money of everyone be worth less. Thus every time the FED prints money, is stealing from each and everyone that holds their notes.

      Land, Water, Food, electricity. Get a hold of it. Otherwise you are at the mercy of those who do not have your best interest in mind. Money is just a fantasy.

    • Mark Brander

      Everyone, and I do mean everyone, is going to be faced with taking the mark if they want to eat. Starting seeking Jesus now for the strength to refuse it. He is waiting to work in your faith and belief if you seek Him now.

    • building 5

      funny money.

    • mmkkpro

      as i do believe in good and evil or ying and yang,karme call it what you want,hard for me to believe only a few christians are goin to be saved and 99% of the rest of humanity will be damned,what about the thousands of years and billions of humans that lived before the king james version was invented,guess thats another argument.the time is now for good ,decent people to rely on each other while the elite greedy idiots destroy the future,if we stick together and remain positive,and fight for our rightful future,I have ti believe the light will over come the dark.Not to say it will be easy,many will die fighting the good fight but in thr end the forces of light will prevail.I think we are beings of light connected to the complete universe,and as such will eventually prevail,Dark days ahead no doubt,i will be damned if i will just lye down and give up without a fight,way more good,decent people of all races and colors to lose in the end,our children deserve better

    • Anonymous

      BREAKING NEWS– BANK RUN -TRINIDAD AND TOBAGO WEST INDIES, REPUBLIC BANK, ROYAL BANK, FIRST CITIZEN BANK and SCOTIABANK thousand of customers simultaneously secretly withdrawing all their funds, because they believe that the banks might go into bankruptcy, and for fear of the bank becoming insolvent and that they the customer, will lose all their money.people are putting their money in smaller credit union banks or keeping it at home

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.