ISIS / Muslin Extremists / Beheadings / Terrorists / Open Borders
Open Borders / Disease / Ebola / TB / Enterovirus D68 (“Honduran flu”)
Disease / Economic Overwhelm / Bank Failures / Panic / Chaos / Civil Unrest / Martial Law
See a common thread? The biggest threats on our immediate horizon overlap and domino. Never have we faced with such monumental challenges.
When Reuters released the story concerning big bank collapse ‘war games’ Friday (and right before a holiday), creepy-crawly hairs roamed my neck. If such an event transpires, people will be poised at the edge of 10-story windowsills again a la 1929.
Instead, ebola took center stage over ISIS, probably because this deadly threat has pierced our nonexistent borders and landed in our healthy Country. Initially, Obama must have rubbed his hands in glee. It took the world’s eyes off his do-nothing policies regarding savage Muslim extremists chopping and lopping heads. As someone else duly noted, all Muslims aren’t terrorists, but all terrorists have been Muslim. That is exceedingly uncomfortable for our Grief-in-Chief to acknowledge. Since he finds it difficult to call a terrorist what he or she truly is, ebola must have been seen as a welcome, if short-lived, diversion. That is, until on this issue too, Obama became quite flaccid.
In his limp-leader style doing his best to circumvent work and intel briefings, another mess landed in his lap – possible megabank collapses. This scenario has never before slid off the lips of the Big Boys – not in the take-it-seriously mode because they had bank bailouts. Yes, a small bank here or there went out of business, but others were shored up with countless billions in bailouts. Several rounds of them. How close this event must be for them to consider it, let alone practice how to deal huge financial institution failures!
Obama must be quivering in his golf shoes. Any of the aforementioned ‘tribulations’ requires him to don big boy knickers.
Since 18 to 20 world governments are looking at big bank failures as a possibility, then it is a matter of time before it becomes reality. There’s little they’ve practiced for that hasn’t come to pass and a LOT they’ve ignored that slammed us in the backside.
While bank bail-outs are out, bank bail-ins are on the table. Think it can’t happen? The precedence set in Cypress last year was no fluke. Cypriot banks seized up to 40% of customer deposits.1 Their toes tested the water for the rest of the world. Banks closed for 2 weeks to prevent customers from “draining their accounts as politicians scrambled to come up with a plan to raise enough funds for Cyprus to qualify for 10 billion euros ($12.9 billion) in bailout loans for its stricken banking sector”.2
People stood in line 6 HOURS to find they could only withdraw €300 or $383 per person per day. No checks could be cashed and if leaving the country, they could only take a paltry €1,000 or roughly $1,250. That wouldn’t buy much of a trip.
BANK FAILURE, HEART FAILURE?
If this article doesn’t shatter rosy glasses, nothing will.
U.S., British Regulators Test Readiness for Big Bank Failure
Fed, Treasury Officials Meet With British Counterparts to Rehearse Hypothetical Cross-Border Bank Collapse
Oct. 10, 2014
By Paul Hannon and Victoria McGrane
Wall Street Journal
WASHINGTON—They say practice makes perfect, so top U.S. regulators and their British counterparts will conduct “war games” Monday to rehearse how they would handle the failure of a huge financial firm with operations in both countries.
Federal Reserve Chairwoman Janet Yellen, Treasury Secretary Jacob Lew and other U.S. regulatory chiefs will join forces with Bank of England Gov. Mark Carney, U.K. Chancellor of the Exchequer George Osborne and British regulators in Arlington, Va., for the sessions focused on a major, hypothetical cross-border bank failure.
The exercise—the first of its kind—is intended to test the new strategy developed by international regulators in the past six years aimed at handling the collapse of megabanks without the taxpayer bailouts and market tumult that characterized the 2008 crisis.
Making the plan work, and convincing the world it can work, is part of the regulators’ drive to end the problem of “too big to fail” institutions—those whose collapse would o so much damage to the wider economy that policy makers would be forced to use taxpayer funds to keep them in business.
“We want to make sure we are able to handle an institution that previously would have been too big to fail,” Mr. Osborne told reporters Friday, during meetings here of the International Monetary Fund. “We are confident in this framework, but we are testing it.”
Monday marks the first time that various principals, or officials who would make the big calls in a real-life crisis, will meet in person for such an exercise, though they have spoken about it on the phone before and staff members have been working together, according to officials.
International coordination is vital for such a plan to work, since the biggest banks have tentacles far beyond their home countries. U.S. banks are heavily exposed to the U.K., and vice versa. More than 80% of the international assets and derivatives of top U.S. banks are based in the U.K, for instance, according to the FDIC.
The chief executives of 18 large U.S., European and Japanese banks are set to agree in principle at the Fed on Saturday to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, said people familiar with the meeting.3
We’ve had so many, many warnings to get ready in all arenas – physically, spiritually, mentally. Numerous, major natural disasters remind us Earth is a fragile piece of real estate; economic dips and slips send tremors throughout global markets (at one point yesterday, the Dow plunged more than 460 points – a true Pepto-Bismol day); new or formerly ‘dead to America’ diseases are coming ashore; food is poisoned by GMOs, pesticides, aspartame, etc; and government stripped a record $3 TRILLION from our wallets in taxes this year. The list of dramas and traumas is longer than Walmart lines stampeding for the latest Christmas toy. Government tries to dictate our lives, invades every aspect of privacy, strips away our dignity and rips away Constitutional rights. They strive to replace decency with the unthinkable.
When a Texas city – God-fearing TEXAS – issues “subpoenas demanding pastors turn over any sermons dealing with homosexuality, gender identity or Annise Parker, the city’s first openly lesbian mayor”4 – you know the world is upside down. Ministers who fail to comply could be held in contempt of court. This is insanity.
Had the bilious conditions we are now forced to swallow been instituted overnight instead of incrementally, its authors would have been met with a lead-lined ‘howdy’. Martial law and FEMA camps would surely characterize America.
Posted by: DAVID HODGES – continue reading at THE COMMON SENSE SHOW