The Destruction Of The Middle Class Is Nearing The Final Stages

zerohedge.com ^ | 12/23/2014 | Tyler Durden

[dontreadthis]

The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed.

At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that money if a banking crisis takes down the bank.

The spending bill just passed by congress makes the American taxpayer responsible for any derivatives loses that banks may suffer. These derivative holders now have first priority when any funds are paid out and depositors are relegated to last place. FDIC insurance will have to pay out these funds but it has no where near enough money to pay the more than 300 trillion in losses that will be suffered in a banking crisis. That means any depositor has little hope of getting anything back. In order for depositors to get anything back massive money printing would have to take place making any payout amount to only pennies on the dollar.

[familyop]

Sorry. Can’t reply to that. Too busy laughing. ;-)

[familyop]

Well, okay. I’ll give it a try, even though I don’t do so with the Mrs. at home.

So you think I think I’m the only one who ever thought of any of that?

LOL!

[familyop]

You see, with many of us, it’s not so much about you, me, or how we make each other feel. Excuse me. I’m going outside again to work with physical objects.

[E. Pluribus Unum]

I haven’t a clue what you’re talking about, and I suspect you don’t either.

[SgtHooper]

I understand and agree. No intent to argue. Merry Christmas, as well!

[SgtHooper]

Gee, I wonder how net neutrality would solve this! NOT!!

[kiryandil]

E. - you lose the discussion on points, big time. familyop - you've gone up much in my estimation.

Somewhat disappointing for a 98er, E. You need to clean up your argumentation. You're getting sloppy.

[E. Pluribus Unum]

Fine with me. I have no problem losing to an insane person.

[kiryandil]

Fine with me. I have no problem losing to an insane person.

I think that familyop's post #75 put a full spread of torpedoes into that particular conjecture.

Don't make me link to it.

You're a 98'er - just admit that you're wrong. It's no reflection on you.

[E. Pluribus Unum]

Gee, he knows how to link to things I read years ago.

He is such a genius. You must be too. I feel humbled.

[kiryandil]

You're a 98'er, but I don't recognize your screen name as much of a contributor from back then. Joined after the MFJ, I can see.

I could do further research, but what's the point? familyop bested your arguments, and you refuse to concede.

Your contributions on this thread are null and void.

[E. Pluribus Unum]

So whoever mindlessly links to the most stuff is the greatest.

Interesting.

[who knows what evil?]

I see Ann has a new 4-part video posted at her website...I’ll have to give it a listen tomorrow.

[familyop]

Thank you, kiryandil, but no personal admissions are necessary. And thanks for the discussion, E. Pluribus Unum. I surely could have done my part better, would like for all of us to learn as much as we can and get healthier along the way. Might be some rough economic times ahead for many more.

Here’s a little more about one way of finding material at Free Republic. Go to Ixquick.

https://ixquick.com/

Enter the following with your own keywords and/or key-phrases.

keywords or “phrases in quotes” here host:freerepublic.com

Some search engines use “site” instead of “host.”

Stay analytical, and don’t be affected by issues of pride. We should each only try to do better today than we did yesterday.

[Theodore R.]

The middle class will be the last to figure out that there is no more “middle class”.

[familyop]

"Gee, he knows how to link to things I read years ago."

Those things in comment #75 are evidence of the reason that both political parties are disrespected by most voters, and the reason for the fall of the middle class (halfway there already). Both parties are most influenced by dictatorial socialists--especially socialists and their most favored, government-supported wanna-be plutocrats in local levels of government--who are regulating against us and taking fees to violate our real property rights, our natural right to produce necessities and our natural right to have cohesive families.

Reprobate politicos will be left out in the cold after haircut time (collapse of bonds that cannot be repaid, layoffs, office closings, etc.). Those who are causing the problems in state and local governments will clean their own houses (radically cut spending, close useless regulatory offices) or face the consequence of poverty themselves. They're not "makers" or net taxpayers. They make nothing but trouble and more schemes for sucking pork.

And I won't support them by indulging in cults of personality and bandwagon approaches to elect effete candidates of their choice. Any good teacher, for example (speaking of local, government supported political influences), should have enough knowledge and skill to do produce something useful. Otherwise, she/he has no place in education or politics.

Whether or not one commenter understands what is written here is irrelevant. What matters is what most readers can learn and understand.

[E. Pluribus Unum]

What does any of that have to do with anything I said?

[1010RD]

Good call, plus this particular author likes “scary” scenarios that rarely come to pass.

[1010RD]

Ann Barnhardt is calling for a return to the Stone Age. She’s likeable, but her strategy sounds like something out of the Islamic State.

[1010RD]

We are the new Mexico.

Complete hogwash. Reading that is like watching a steam train jump the Grand Canyon.