Posted on 06/24/2009 6:58:35 AM PDT by FromLori
NEW YORK (MarketWatch) -- The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style "bank holiday." But it's surprisingly sanguine about stocks -- in the (very) short term.
The Harry Schultz Letter (HSL) was my pick for Letter of the Year in 2008 because it really did predict what it rightly called a coming "financial tsunami." But its performance in 2008 was still terrible, albeit arguably for technical reasons. ( See Dec. 28, 2008, column.)
Now HSL has bounced back big-time. ( See April 13 column.) Over the year to date through May, it's up a remarkable 81.7% by Hulbert Financial Digest count, compared to 4.1% for the dividend-reinvested Wilshire 5000 Total Stock Market Index.
In its current issue, HSL reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."
Yes, yes, it's paranoid. But paranoids have enemies -- and the Crash of 2008 really did happen.
HSL's suspicion: "Another FDR-style 'bank holiday' of indefinite length, perhaps soon, to let the insiders sort out the bank mess, which (despite their rosy propaganda campaign) is getting more out of their control every day. Insiders want to impose new bank rules. Widespread nationalization could result, already underway. It
(Excerpt) Read more at marketwatch.com ...
Our economy being so different than the 1930’s, I just don’t think you could have a long banking holiday.
true dat. They’d have to lockdown the ATM’s and credit card processors to make people really take notice.
However, this is not the first prediction of an unnannounced “bank holiday” when things get beyond repair and beyond spin control. There was a time last fall I was keeping the cars filled with gas and maps, and plenty of water and food on hand-as in preparing to be self sufficient and get to a safe place for a while ( I live too close to urban plantations for comfort). Kind of like hurricane evacuation plan.
Time to rethink.
Will zerO use war or pandemic as a cover?
Interesting scenario from the tin hat brigade, pubsihed in 2008, predicting a bank holiday to precede planned overnight devaluation of the USD and conversion to “amero” as currency
http://www.silverbearcafe.com/private/10.08/amero.html
Anyone who knew this would not be much concerned about spending the US dollar into complete unrecoverable bankruptcy for, say, healthcare and seizure of more US industry... would he
he might even want to involve Canada Mexico and even Australia and Great Britain into a strategic “FEMA defense” exercise in the USA, to exercise plans for crowd control and carrying out orders domestic commanders and troops might balk at
tin hat off
Excerpt:
Schultz believes the global elite are in the process of engineering an FDR-style “bank holiday” of undetermined length in order to “sort-out the bank mess” and impose new bank rules.On March 5, 1933, in the depths of the banker engineered “Great Depression,” newly elected Franklin Roosevelt declared a “bank holiday” that forced banks closed for four days. Roosevelt then rammed the Emergency Banking Act through the legislature. Passed by Congress on March 9, the act granted FDR near dictatorial control over the dealings of banks. It also allowed the Secretary of the Treasury the power to compel every person and business in the country to relinquish their gold and accept paper currency in exchange. * * *
As Schultz notes, another forced “bank holiday” will likely lead to a formal devaluation of the already broadsided U.S. dollar. “But devalue against what? The euro? Doubtful. Gold? Maybe. Or vs. the IMF basket of currencies,” which he feels is more likely.
In fact, this is precisely what the globalists have in mind.
In March, the media reported the IMF was poised print billions of “global quantitative easing” dollars to be dubbed global “super-currency” to address the (bankster engineered) economic crisis.
“The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them,” declared Simon Johnson, former chief economist at the IMF.
The Bilderbergers, CFR, Trilateralists and Bohemian Grove plotters strike again. In my view they are worse than traitors. These groups are following an agenda tied to secret occult beliefs of top Nazis. We defeated these bastards once in a Great World War that cost over 50 million lives.
Now they pop up again. Funded by billions looted during WW II -- they are deeply embedded in banking in Europe and the U.S. Wall Street banksters follow orders as do our Congress and the president.
Please check my freeper page for more details
A lot of HSL’s success recently is reflected in the last month’s runup in the price of crude and motor fuel; now that it seems to have stalled could this be another ploy to kickstart panic buying?
The Fed looks like it finally got its hooks in Ford as it was reported they accepted $6.5 Billion in contingency loans yesterday; good news for the new Car Czar, I guess...
Could be I suppose but my concern was people will not be able to get at funds needed for daily living if this occurs and they are not prepared. I also see a great liklihood of this taking place due to the fed having to buy our debt.
BUMP!!!!
If this is real, it would be necessary for the administration to pass its ENTIRE agenda prior to, say, the middle of August at the latest. They appear to be doing so.
Heard this last fall.
Might happen. Get a stash of food and other essentials.
Ping
yikes!
Thank you sweetiepiezer.
Ping, and check out #4, too. Just do it.
Uncle Harry Schultz is not a nutcase.
http://www.freerepublic.com/focus/f-news/2278320/posts
I don’t take anything off the table at this point !
It would be wise for all to be ready to “Fort Up” in their
homes with all that they need to stay alive,,,
If this happens it will be that SHTF moment...
NOT hard to believe.
Unconfirmed, sure, but not hard to believe.
I would not rule ANYTHING out. Things may be a lot worse than we know. Harry Schultz is no dummy.
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