end 2I prefer not to be beholden to the bankers.  Starve the beast. Do not take loans.  Pay in cash. Hoard cash.
With fractional reserve banking, every bank sows the seeds of their own destruction. It’s just a matter of time before every bank goes TU.  I’ve seen hundreds bite the dust…

falling-bearSomething negative did hit Bear Stearns in the first quarter of 2008; although there are remarkably few details of what went wrong. Since Bear had a significant presence in sub-prime mortgages and that market was in distress, it is assumed the fall of the firm was mortgage related. That may be true, but there was no general stress in the stock market through mid-March 2008 reflecting a credit crisis. Was there instead some specific trigger behind the company’s sudden collapse?
I believe that sudden and massive losses and margin calls of more than $2.5 billion on tens of thousands of short COMEX gold and silver contracts were the specific triggers that killed Bear Stearns. Let’s face it – Bear was so leveraged that a sudden demand of more than $2.5 billion in immediate payment for any reason could have put them under. Bear Stearns’ excessive gold and silver shorts on the COMEX are the most plausible reason for the sudden demise.

What would you do if you logged in to your bank account one day and it showed that you had a zero balance and that your bank had absolutely no record that you ever had any money in your account at all?  What would you do if hackers shut down all online banking and all ATM machines for an extended period of time?  What would you do if you requested a credit report and discovered that there were suddenly 50 different versions of “you” all using the same Social Security number?  Don’t think that these things can’t happen.  According to Symantec, there was a 42 percent increase in cyberattacks against U.S. businesses last year.  And according to a recent report in the Telegraph, big banks are being hit with cyberattacks “every minute of every day”.  These attacks are becoming more powerful and more sophisticated with each passing year.  Most of the time the general public never hears much about the cyberattacks that are actually successful because authorities are determined to maintain confidence in the banking systemBut if people actually knew the truth about what was going on, they would not have much confidence at all.

SHIBORIs Peking panicking again?
Do you recall the June panic in the Chinese banking sector? Rumor of defaults of a secondary bank resulted in the SHIBOR, equivalent of LIBOR for China, spiking abruptly. In the span of a few hours, a “Credit Freeze” developed. The Chinese government has forbid the media to write more on the subject and then, opened credit lines to avoid defaults wherever it was needed, saving banks, industries and speculators.

On the 4th of June,  Wei Yao, the SG Cross assets Research’s China economist wrote that China may be on the verge of a “Minsky moment.”
A few days later, Beijing panicked, the SSE crashed and it seems that many speculators were forced to close their contracts on commodities (soybean mealsoybeansoybean oil, ) bringing to a real disruption of these markets. Gold and Silver also suffered, both bottomed at the end of June.
If the sudden spike in the SHIBOR is any indication, it seems that the Chinese banking sector fears the second part of November.

banamexBanamex, Mexico’s second largest bank (which coincidentally happens to be owned by Citi) was unexpectedly taken down by a “glitch” Monday morning, leaving customers without access to ATM cards or bank balances.
In a statement, Banamex apologized to the 27 million affected Mexicans, and stated that it does not yet know when it will be able to restore services in branches, ATMs, and telephone BancaNet and allow customers access to their funds.

bankrobberyReuters is reporting that Poland has just nationalized their retirement system via a pension fund “overhaul”, a move Poland claims will reduct is public debt by 8 pct of GDP thanks to the theft of their citizens retirement savings.
The plan calls for private pension funds to be forceably converted to a state guaranteed system, without providing retirement holders ANY COMPENSATION!
The Polish pension funds’ organisation said the changes may be unconstitutional because the government is taking private assets away from them without offering any compensation.

This is coming to a modern Western nation closer to home soon.  Those who bite the bullet and pay the penalty to extricate themselves from retirement positions can prevent a full loss to their retirement savings and wealth should a similar forced pension/401k conversion occur.

FarageWhat I strongly wish you do is free your assets from the balance sheets of the entity with which you are dealing in the entire Western world financial system, without exceptions. The official written evidence is overwhelming that in a systemic crisis of size depositors as unsecured creditors of a bank or broker by the simple act of having an account are lenders to that institution. In fact of law, the depositor, you, are very junior lenders as they are unsecured. You need to consider yourself as an informed Cypriot knowing that bail-in was coming a few months before it occurred. What would you do? My feeling is you would have done a lot more than just the thinking about it that you are doing now.

alertSteve Quayle’s banking management source has released an alert stating that a false-flag financial cyber attack is close at hand in which the Western Central banks will blame the coming financial collapse.

For some time I have emphatically stated that there will be a bank hack or cyber attack as the global economy is pushed to the brink of collapse. From top level sources I can confirm to you what you are seeing is an emerging pattern of various beta-tests using Stuxnet like algorithms to affect the banking networks the world over. I can tell you though that the primary target is the US.

How can so many bank and ATM networks like NYCE, PULSE, PLUS, INTERAC, CIRRUS, BACNET, NOVUS all be affected? This is truly something of a very sophisticated nature. Something that is very large in scope and very ominous in action. Folks it is without a shadow of a doubt that these are all beta-tests. I have said it before this will be a financial false flag. The frequency of banking network failures has gotten to be very acute to the point that I am convinced that we are edging closer to the one major event that will set everything in motion.
The take down of the economy is close at hand and the major cyber attack will be on it’s way.

Depositor haircut wealth confiscations have just gone from a one-off in Cyprus to the new thing in 2013.
The New Zealand government is reportedly pursuing a policy of Cyprus style depositor haircuts for all future bank failures!

The plan would not limit the haircuts to any percentage, but would steal whatever is necessary from depositors to prop up the failing bank institution: Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

The rule of law in the entire Western financial world is apparently vaporizing faster than the spent fuel at Fukushima.