Posted on 04/24/2021 8:18:07 PM PDT by SeekAndFind
I have for twenty years lived in all parts of the world, from South America to Russia to Israel to Saudi. What I have learned: Do not EVER think hyper inflation or currency collapse or wide spread banking failures will never happen in the US. I have seen our path in many countries, huge debt, ( usually run up by socialism) , erosion of nation currency buying power, increased inflation to hyper, then government defaults, bank defaults, then Venezuela as soon as three years ( study Argentina currency collapse- socialist government installed, spiral down to collapse). Tangible assets, real estate ( NOT rentals), as we are entering a huge commodity bull run with many shortages occurring,think commodities. Do remember- stock markets still rise but rarely past the REAL inflation rates and they are paper, with many counter party ownership. The Great Reset has started, it’s goal is to wipe out / transfer all debt instruments of the world banks, there is more than 200 trillion in the world debt- wipe it out by “ Shemitah” or hyper inflation. The US cashless Fedcoin now in sub committee is designed to get rid of cash, Fedcoin accounts will automatically have taxes removed, trace every purchase, deny certain purchases. Do keep in mind, China’s now working cashless Yuan states gold can NOT be purchased , along with other “prohibited “ items....I can go on and on, Martin Armstrong’s blog is a good place to see all current financial news, also Sinclair’s , www.jsmineset .com, is closely tracking our meltdown. Put much prayer into your actions, pray for discernment.Every.single.institution is corrupted, huge money grabs/ debt forgiveness is going on behind the financial scene.
“With a new laptop, I would have to rent Word from Microsoft.”
freeware libreoffice works quite well ...
https://hammeroftruth.com/2004/what-are-banks-for/
Has the text of a 1957 piece from Punch magazine on the subject.
Worth the read.
I forgot to mention : For the first time, banks are buying gold up in huge quantities, it is now a Tier One asset....think about that- look up the World Basel III banking agreements to be instated in June....acceptance of sovereign digital currency ( cashless), gold declared a Tier One asset, huge debt instrument “ forgiveness” ( for banks, not private citizens), negative interest rates ( been in use in the EU for the past 3-4 years), the list getting longer every day.....wealth redistribution and total control is the goal.
Governments are printing trillions and why bother with large cash deposits when ‘free’ liquid cash can be put in to hard assets while the banks watch the money inflate to nothing with no accountability.
I have for twenty years lived in all parts of the world, from South America to Russia to Israel to Saudi. What I have learned: Do not EVER think hyper inflation or currency collapse or wide spread banking failures will never happen in the US. I have seen our path in many countries, huge debt, ( usually run up by socialism) , erosion of nation currency buying power, increased inflation to hyper, then government defaults, bank defaults, then Venezuela as soon as three years ( study Argentina currency collapse- socialist government installed, spiral down to collapse). Tangible assets, real estate ( NOT rentals), as we are entering a huge commodity bull run with many shortages occurring,think commodities. Do remember- stock markets still rise but rarely past the REAL inflation rates and they are paper, with many counter party ownership. The Great Reset has started, it’s goal is to wipe out / transfer all debt instruments of the world banks, there is more than 200 trillion in the world debt- wipe it out by “ Shemitah” or hyper inflation. The US cashless Fedcoin now in sub committee is designed to get rid of cash, Fedcoin accounts will automatically have taxes removed, trace every purchase, deny certain purchases. Do keep in mind, China’s now working cashless Yuan states gold can NOT be purchased , along with other “prohibited “ items....I can go on and on,
Martin Armstrong’s blog is a good place to see all current financial news, also Sinclair’s , www.jsmineset .com, is closely tracking our meltdown. Put much prayer into your actions, pray for discernment.Every.single.institution is corrupted, huge money grabs/ debt forgiveness is going on behind the financial scene.
Let’s create/organize the Free Republic Bank!!
Sorry, correction. Www.jsmineset.com shows global debt and liabilities at an astounding $2.3 QUADRILLION, a mere $300 Trillion in pure debt. Now you may begin to understand what is upon us.
To me, the story is not clear on certain details. Just because someone puts 100,000 Euros in a bank doesn’t mean it can’t be invested by the bank.
One think I do know: banks act in their own self-interest. So what the government and central bank is doing is the undoubtedly the source of the trouble.
But the specifics elude me. And I don’t think the story fully explains what’s going on.
They are not really referring to the guy on the street. Do you know a lot of folks with 125k in cash—-looking for a place to stash it? Probably not.
But companies are in this spot often. They need access to deposit accounts to transact business. Forcing them to move money about between different accounts can be expensive.
Legally, they are prohibited from investing deposited fund in certain ways. This is to prevent total loss of those funds, and maintain access by the depositor. Really, the only accepted way of investing those funds is through lending them out to borrowers.
People are not borrowing at the moment. Many more depositors, meaning more negative rates from the Central Bank, far outweigh the borrowers. The interest they would get from borrowers is being eaten up by the negative rates the banks have to pay the Central Bank.
That is why they are now refusing deposits.
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