U.S. and UK to test big bank collapse in joint model run

Is this Reuters story a foreshadowing of a planned event for the near future?  Is it a propaganda piece to keep people on edge and easy to manipulate? I am not sure. I do know that we exist in a financial world build on a stack of cards and eventually it will collapse.  The Fed has been printing / creating money out of thin air, propping up the stock market and making some people at the apex of power very rich beyond your wildest dreams.  In the end though, what is money?  Do we ever really own anything if at the stroke of a pen some government agency can make that thing illegal to own or buy it from you at some ridiculous price via eminent domain laws?

THE EARTH IS THE LORD’S AND EVERYTHING IN IT!

                                                                                                                Psalm 24:1

Man can but use it a little while and then he is gone, but our God is eternal and the creation is His, but we like to think we are in control and own stuff.  Regardless of these facts, most people live their lives accumulating stuff, handing stuff down, and basing their security on how much stuff they have.  Beware trusting in trinkets of gold, silver and stocks my friends for they can be gone overnight and where will you be if your spiritual house is not build on a firm foundation and your faith and trust firmly in the Lord our God and creator?  They could crash the worldwide banking system tomorrow.  The stock market could become worthless tomorrow.  Oh, but you have gold and silver?  Will that feed you?  Will you be able to live in a world watching people suffer for a bowl of soup or some bread and feel you are fine because of your gold and silver?  Will you be safe from the hungry hordes who know you live in luxury while their children starve?  I hope your house can withstand the winds and revenging waves of tribulation that is coming.  This is not the tribulation of anti-christ, no that comes after this time of crisis.  That is when we are offered a SOLUTION to the problem that they created.  Will you jump at it for some food and “salvation”?  Are you a foolish virgin or a wise one?  Only the wise will be ready and know what to do.

Here is the story that I am basing my comments on, and you can decide how credible this threat of financial collapse really is:

U.S. and UK to test big bank collapse in joint model run

By Randall Palmer and Douwe Miedema

Oct 10 (Reuters) – Regulators from the United States and the United Kingdom will get together in a war room next week to see if they can cope with any possible fall-out when the next big bank topples over, the two countries said on Friday.

Treasury Secretary Jack Lew and the UK’s Chancellor of the Exchequer, George Osborne, on Monday will run a joint exercise simulating how they would prop up a large bank with operations in both countries that has landed in trouble.

Also taking part are Federal Reserve Chair Janet Yellen and Bank of England Governor Mark Carney, and the heads of a large number of other regulators, in a meeting hosted by the U.S. Federal Deposit Insurance Corporation.

“We are going to make sure that we can handle an institution that previously would have been regarded as too big to fail. We’re confident that we now have choices that did not exist in the past,” Osborne said at the International Monetary Fund’s annual meeting.

Six years after the financial crisis, politicians and regulators around the globe are keen to prove they have created rules that will allow them to let a large bank go under without spending billions in taxpayer dollars.

They have forced banks to ramp up equity and debt capital buffers to protect taxpayers against losses, and have told them to write plans that lay out how they can go through ordinary bankruptcy. The plans are so-called living wills.

Yet salvaging a bank with operations in several countries – which is the norm for most of the world’s largest banks such as Deutsche Bank, Citigroup Inc and JPMorgan – has proven to be a particularly thorny issue.

Because the failure of a big bank is such a rare event, regulators may not be used to talking to each other. There have also been suspicions that supervisors would first look to save the domestic operations of a bank, and would worry less about units abroad.

The exercise comes as regulators are about to bring to fruition further initiatives to make banking safer.

The first would force banks to have more long-term bonds that investors know can lose their value during a crisis, on top of their equity capital, to double their so-called Total Loss-Absorbing Capacity (TLAC).

A second measure, expected to be announced this weekend, will force through a change in derivative contracts, which in their current form protect investors, and complicate the winding down of a bank across borders. (Editing by Matthew Lewis)

Just for laugh at our accumulating stuff from one irreverent man who now knows whether there is a God or not, and I hope he was well received despite some things he said and did:

Karen Hudes : Dollar Collapse Imminent

It appears that there are battles being wages behind the scenes between the people waking up  vs. the elites robbing the world.  There appears to be maneuvering happening in the military who is not going to just go along and do whatever they are told, and Ms. Hudes  explains how in her connections from being head legal council for the World Bank are explaining what is going on, and how the media is covering up these battles for control.

This interview covers both the currency and the military issues happening right now.

U.S. Currency Weak and About to Crash—Karen Hudes

By Greg Hunter

U.S. Currency Weak and About to Crash—Karen Hudes

By Greg Hunter’s USAWatchdog.com 

Former World Bank Senior Counsel and whistleblower Karen Hudes has an amazing revelation about secret U.S. gold.  Hudes says, “We’ve been offered, the United States, 170,500 metric tons of gold on deposit in the bank of Hawaii to underpin our currency which is about to crash.  The Federal Reserve Notes are unconstitutional, and we don’t have to pay interest on our debt, and we don’t have to have debt for that matter.”  What does Hudes say to her skeptics that doubt her story of 170,500 tons of gold in Hawaii?  Hudes says, “I say you are totally kept in the dark and that the mainstream media is controlled by this network of control that is totally documented by the Federal Institute of Technology.  You really ought to chide yourself that you are deliberately kept in the dark.  So, you shouldn’t be surprised that the world’s wealth is hidden from you when so much else is hidden from you.”  

At a December town meeting attended by Joint Chiefs of Staff General Martin Dempsey, Hudes asked, “What I asked General Dempsey was if your job is to see to the military strength to the United States and the currency of the United States is deliberately being kept weak and is about to crash for no good reason, what on earth do you think you are doing there?”  What was his reply?  According to Hudes, “He tried to get out of it. . . . I have been repeating this question in other forums, and General Dempsey is just terribly discredited isn’t he?”

What signs are there that the U.S. and other currencies are about to crash?  Look no further than physical gold.  Hudes says, “Look at the amount of gold that is disappearing from COMEX.  Another way is whether the central banks who lease their gold are still leasing it—no they’re not.  That would be impractical because the banks would not get their gold back at the end of a lease term.  There’s the problem of Germany asking to repatriate their gold, and they were told it would take seven years, and the Federal Reserve is not even complying with that schedule.  Gold is going into hiding.”

Hudes goes on to talk about something called a “Power Transition Model” which Hudes says it predicts, “The United States was going to lose its leadership role if we didn’t separate ourselves from this corruption.  And, it turns out the United States isn’t the only one who has been captured in this system.  The Bank for International Settlements, it’s got central banks in all these different countries.  It’s a Ponzi scheme. . . . I have been working with people inside the Department of Defense who know about this “Power Transition Model” which says the United States is at a fork in the road; and, actually, it’s not just the United States, it’s all of humanity.  Either we take back our gold, our legality, and we tell this group that thinks it’s above the law that it is not above the law, or we can kiss ourselves goodbye.  Humanity will not continue, we will have World War III.

As far as the Federal Reserve, Hudes says, “The only ones buying the dollar, as far as I can see, is the U.S. Treasury. . . They’re intentionally trying to crash the dollar; they’re trying to weaken the United States.”  The Fed, Hudes says, “Are traitors, they are traitors.  They are not owned by the U.S. government.  They are part of this network of control. . . . Why would we let them do this?  We’re not going to let them get away with this.”

Hudes makes another point about gold, and she contends it has been manipulated down in price.  She says, “It’s all paper being offered against delivery in the future.  There are many more contracts for the future delivery of gold than there is actual gold in COMEX to make good on those offers. So, this is not going to continue.  No, it’s not going to continue.  What happens when the paper currencies are about to crash is you see gold backwardation, and it has been going on for more than a year.  (Backwardation means the price of gold today is a higher price that gold delivered in the future.)

Can we pull the world out of this economic calamity?  Hudes closes by saying, “It may be that we don’t, in which case, we end up in what happened just before we went into the dark ages–when gold went into hiding . . . . We can bring this gold that belongs to humanity out of its cloak of secrecy and out of hiding or we can go back into the dark ages.  And we can have pestilence and starvation. . . . Civilization breaks down.  We cannot pay for our international trade.

Source

 

Chase Stopping International Wire Transfers on some accounts

This is picking up where another post dropped off the other day regarding news that banks were starting to stop international wire transfers.  I asked for those of you who might have some news on this to offer any information, and I just came across this article on Infowars:

Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

Preparing for looming financial crisis in U.S.?

Paul Joseph Watson
Infowars.com
October 16, 2013

Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers from November 17 onwards, prompting speculation that the bank is preparing for a looming financial crisis in the United States.

MORE

American Lockdown: First the banks then the people

I just found out that banks are stopping international transfer of money from America.  Incoming international transfers are ok as well as domestic, but you cannot send money overseas at some banks. I don’t know if it is all of them, but when the government starts closing the bank transfers then something seems to be coming as in a bank lock down, and then the next would be flights to leave the country WITH your money.

I wonder if they are stopping people from cashing out their accounts or limiting how much you can take out.

CALL FEDERAL CREDIT UNION:

Wire Transfers

Effective October 1, 2013 – Call FCU will no longer send outgoing international Wire Transfers.

 

I called my bank (It’s a major one) and they told me they were still offering them, and it’s unlimited in how much I want to transfer.  So, is this just rolling out in some areas?  Were they lying to me?  I don’t know.  If you have info on this please leave a comment.  Bankers holiday (where they close banking on a Friday and then you find out over the weekend you cannot access any funds is the first real red flag of an economic shut down and preventing a run no the banks.

I highly suggest you take out whatever cash you will need to pay bills for the next couple of months just to be safe.

 

 

Planned Exercises for October : Bank Failure and DHS EVENTS

This is a must listen to interview.  Bank holidays are happening and you are not hearing about what is happening.  Will there be a new false flag even when they take the grid down in an exercise.  There is a cyber attack drill planned for October.  I am telling you to play it safe.  Take cash out to last you 30 days just in case.  Get some provisions, and know that with the political theater happening and the finance problems, anything can happen.

 

 

 

Karen Hudes – World Bank Lawyer Whistle Blower “We are headed for a currency war”

You really need to listen to Karen Hudes.  Her CV is outstanding. She was a guest on Coast to Coast tonight and I looked her up on youtube. This was a short conversation in which she shares the corruption she witnessed at the World Bank:

She pointed out on Coast to Coast regarding America not being able to choose the President of the World Bank if we did not play along with their schemes.

Joining John B. Wells, former Senior Counsel to the World Bank and whistle-blower, Karen Hudes, will discuss what happened when she warned the Treasury Dept. and U.S. Congress that the U.S. would lose its right to appoint the President of the World Bank. She was recently arraigned and arrested by DC police.  Coast to Coast

Karen Hudes Website

Here “About Us” page shares this:

Who is Karen Hudes?

Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.

What did Karen Hudes blow the whistle on?

In 2007 Karen warned the US Treasury Department and US Congress that the US would lose its right to appoint the President of the World Bank if the current American President of the World Bank did not play by the rules. The 66 year old Gentlemen’s Agreement that Europe would appoint the Managing Director of the IMF and US would appoint the World Bank President ended in 2010 http://www.imf.org/external/np/cm/2010/042510.htm

In 1999 Karen reported the corrupt take-over of the second largest bank in the Philippines. Lucio Tan, a crony of Joseph Estrada, then President of the Philippines, acquired stock owned by government employees in Philippines National Bank (“PNB”) valued more than 10% of PNB’s outstanding capital without disclosure, as required by Philippines securities laws. Tan owned Philippines Airlines, in default on its loans from PNB. The government of the Philippines loaned $493 million to PNB after PNB’s depositors made heavy withdrawals. $200 million of a loan from the World Bank and a $200 million loan from Japan were cancelled. Estrada was ultimately impeached, and in 2007 an anti-corruption court in the Philippines required Estrada to refund graft he had plundered. The Bank’s Country Director in the Philippines reassigned Karen when she asked him to sign a letter warning the Philippines’ government that the Bank could not disburse its loan without a waiver from the Board of Executive Directors since the loan conditionality was not met. The World Bank’s Internal Audit Department refused to correct the satisfactory evaluation of the Bank’s supervision performance or the flawed report of the Institutional Integrity Department to the Audit Committee of the Board of Executive Directors. When the Audit Committee requested an audit of internal controls over financial reporting, KPMG, the external auditors, circumscribed the scope of their audit in violation of Generally Accepted Accounting Principles and Generally Accepted Auditing Standards.

Two days after informing the Board’s Audit Committee of the cover-up in the Philippines, Karen was reprimanded and placed on probation. The Dutch Ministry of Foreign Affairs requested the World Bank’s Audit Committee to look into the cover- up. Instead, the Chair of the World Bank’s Audit Committee requested an inquiry into the World Bank’s Institutional Integrity Department. The Senate Committee on Foreign Relations followed up with three letters to the World Bank. The World Bank forged documents and fired Karen in contempt of Congress. The World Bank also fired the Staff Association’s lawyer. The Staff Association stated that what had happened to Karen had damaged staff morale and prevented others from reporting misconduct. The World Bank’s Ethics’ Officer left in frustration after her request for an investigation by the World Bank’s Institutional Integrity Department was turned down.

Mr. Paul Volcker headed the 2007 inquiry into the Institutional Integrity Department. The Volcker Panel was discredited after sixteen staff employed in the Institutional Integrity Department received significant damage awards in compensation for abuses of authority to intimidate them during the Volker Panel investigation. A staff-member of the EU’s anti-fraud agency, Office Lutte Anti-Fraude, on the Volcker Panel wrote to Karen:
“My Director General and I met with a number of European Executive Directors of the World Bank a few weeks ago to discuss the Volcker Panel report. At the meeting there was also discussion about governance issues. My impression was that the European Executive Directors are well apprised of all relevant issues at the Bank and no further comment by OLAF is warranted even if it was within our legal competence.”

Karen informed Senator Bayh, “[t]he ongoing cover-up is an indictment of the probity of US oversight at the Bank and I would encourage the Senate to request GAO to look into it.” Senators Richard Lugar, Evan Bayh and Patrick Leahy requested GAO to investigate “internal resistance to increased transparency and accountability at the World Bank.” http://citizenoversight.com/pdf/blwb.pdf In 2008 Karen’s Congressman, Representative Chris Van Hollen, noted “that [Karen’s] claims and concerns have already been provided to the GAO…. and to the relevant congressional committees.” In 2009 GAO stated that it could not commence the inquiry “because of challenges we recently faced in gaining access to World Bank officials.” Senator Lugar asked what was delaying the GAO review during hearings on the World Bank’s capital increase.

Mr. Pieter Stek, then Executive Director for the Netherlands, and Chair of the Board Committee on Development Effectiveness, said:
“In a multilateral institution which should be governed by the rule of law and high standards of probity the charge of concealment from the Board of Executive Directors of information relevant to the exercise of its duty of supervising management and the persecution of the person who brings this to light is extremely serious. If correct, which I believe, this poisonous cocktail undermines good governance and ultimately the effectiveness of the Bank in fulfilling its mandate. I shall continue to assist Ms. Hudes in her efforts to have due process brought to bear, preferably by the Bank itself, on these issues of governance.”

David Brooks wrote:
“Then there are violations, when someone intentionally breaks the rules. Errors can be very hard for outsiders to detect. It was people inside the companies who were most likely to report fraud, because they have local knowledge. And yet 80 percent of these whistleblowers regret having reported the crimes because of the negative consequences they suffered. This is not the way to treat people who detect error.” http://brooks.blogs.nytimes.com/2011/06/13/living-with-mistakes/?comments#permid=34

In a recent post she wrote:

The World Bank: Rejecting “The Rule of Law”

“The proverb, ‘What you don’t know can’t hurt you”, originated in 1576 as, ‘So long as I know it not, it hurteth mee not.’ But the opposite is true.  Unpleasant hidden truths do the most harm.  The best way to fight corruption is to expose it.  Think of the World Bank as ENRON.” … Karen Hudes

by Karen Hudes (with Jim Fetzer)

Karen Hudes

When, thanks to Mark Novitsky, a federal whistleblower, I learned that Karen Hudes, who earned her J.D. at Yale, our most distinguished School of Law, and an M.Phil. in economics at the University of Amsterdam, which is also a formidable institution, had been removed from her position as Senior Counsel for the World Bank because of her efforts to expose corruption and reaffirm the rule of law in the form of appropriate standards of accounting, I was dumbfounded.  

What initially appear to be obscure issues of international finance, moreover, have the potential to sever ties between us and our NATO allies and weaken the national security of the United States.  The stakes involved are therefore extremely high for every American citizen.

During the World Bank and IMF Annual Meetings last October, with her encouragement, the Development Committee informed President Jim Yong Kim of the need for “a more open, transparent and accountable World Bank Group.”  The reasons that motivated that request included the following series of disturbing developments: