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The "War On Cash" Migrates To Switzerland
Submitted by Pater Tenebrarum via Acting-Man blog,
Banks Increasingly Refuse Cash Withdrawals – Switzerland Joins the Fun
The war on cash is proliferating globally. It appears that the private members of the world’s banking cartels are increasingly joining the fun, even if it means trampling on the rights of their customers.
Yesterday we came across an article at Zerohedge, in which Dr. Salerno of the Mises Institute notes that JP Morgan Chase has apparently joined the “war on cash”, by “restricting the use of cash in selected markets, restricting borrowers from making cash payments on credit cards, mortgages, equity lines and auto loans, as well as prohibiting storage of cash in safe deposit boxes”.
This reminded us immediately that we have just come across another small article in the local European press (courtesy of Dan Popescu), in which a Swiss pension fund manager discusses his plight with the SNB’s bizarre negative interest rate policy. In Switzerland this policy has long ago led to negative deposit rates at the commercial banks as well. The difference to other jurisdictions is however that negative interest rates have become so pronounced, that it is by now worth it to simply withdraw one’s cash and put it into an insured vault.
Having realized this, said pension fund manager, after calculating that he would save at least 25,000 CHF per year on every CHF 10 m. deposit by putting the cash into a vault, told his bank that he was about to make a rather big withdrawal very soon. After all, as a pension fund manager he has a fiduciary duty to his clients, and if he can save money based on a technicality, he has to do it.
Swiss National Bank headquarters
Photo credit: Daniel Rohr
A Legally Murky Situation – but Collectivism Wins Out
What happened next is truly stunning. Surely everybody is aware that Switzerland regularly makes it to the top three on the list of countries with the highest degree of economic freedom. At the same time, it has a central bank whose board members are wedded to Keynesian nostrums similar to those of other central banks. This is no wonder, as nowadays, economists are trained in an academic environment that is dripping with the most vicious statism imaginable. As a result, withdrawing one’s cash is evidently regarded as “interference with the SNB’s monetary policy goals”. Thus SRF reports:
“Since the national bank has introduced negative interest rates, pension funds in the country are in trouble. Banks are passing the negative rates on to them. This results in the saved pension money shrinking, instead of producing a return. A number of pension funds are therefore thinking about keeping their money in an external vault instead of leaving it in bank accounts.
One fund manager showed that for every CHF 10 m. in pension money, his fund would save CHF 25,000 – in spite of the costs involved in vault rent, cash transportation and other expenses.
However, as our research team has found out, there is one bank that refuses to pay out money in such large amounts. The editorial team has gotten hold of a letter from a large Swiss bank in which it tells its customer, a pension fund:
“We are sorry, that within the time period specified, no solution corresponding to your expectations could be found.”
Bank expert Hans Geiger says that this “is most definitely not legal”. The pension fund has a sight account, and has the contractual right to dispose of its money on demand.
(emphasis added)
Indeed, although we all know that fractionally reserved banks literally don’t have the money their customers hold in demand deposits, the contract states clearly that customers may withdraw their funds at any time on demand. The maturity of sight deposits is precisely zero.
So how come the unnamed “large bank” (they should have named it, just to see what happens…) is so bold as to break the law by refusing to pay out funds in a demand deposit? Note here that it is indeed breaking the law, as there is nothing in Swiss legislation that states that banks are allowed to refuse or delay servicing withdrawals from demand deposits upon request.
The answer is that it has probably received a “directive” from the Swiss National Bank. Note here that these directives are not legally binding. SFR further:
“The president of the pension funds association ASIP, Hanspeter Konrad, has been irritated for weeks that pension funds are suffering from negative interest rates. He says: “We simply cannot understand that the banks are butting in here”. Konrad suspects that the National Bank is exerting its influence.
Indeed, the SNB confirms that it doesn’t like to see the hoarding of cash to circumvent its negative interest rate policy. “The National Bank has therefore recommended to the banks to approach withdrawal demands in a restrictive manner.”
Hans Giger, professor eremitus at the University of Zurich, says to this that the question how far the SNB can go is legally complicated. While the SNB is not allowed to influence the contract between a bank and a pension fund, it can however “issue directives to the banks in the collective interest of the Swiss economy”. What banks do with the SNB’s directives is however up to them.
(emphasis added)
In other words, large depositors in Swiss banks have now become victims of collectivism. Collectivism is of course precisely what informs all central planning endeavors. Obviously, property rights count for nothing if the central planners can revoke them at the drop of a hat.
Conclusion
It is undoubtedly a huge red flag when in one of the countries considered to be a member of the “highest economic freedom in the world” club, commercial banks are suddenly refusing their customers access to their cash. This money doesn’t belong to the banks, and it doesn’t belong to the central bank either.
If this can happen in prosperous Switzerland, based on some nebulous notion of the “collective good”, which its unelected central planners can arbitrarily determine and base decisions upon, it can probably happen anywhere. Consider yourself warned. As the modern day fiat money system inevitably cruises toward its final denouement, individual rights will come increasingly under attack as the world’s ruling elites and centrally directed banking cartels begin to batten down the hatches.
Better continue stacking, and keep a pile of this within grabbing distance – after all, it can be purchased at a generous discount these days:
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Good luck explaining that eBanking and electronic transactions crap to your friendly African tribal chief who demands a suitcase full of Greens every year in order to make sure nothing happens to your mining interests. A joke but also reality in central Africa.
On a serious note, all I see behind these proposals is the extreme panic of realizing your economic theories and practices are about to hit a wall at supersonic speed. I don's see this as being accepted universally, certainly not in Europe. In Germany for example, people still hold on to their DMs because they don't really trust the Euro. And you are going to force this on them?
But to make a slight digression from the subject. Where are all the Bitcoin fanboys? They love the concept of a digital only currency. They are seem very, very quiet on this one. NSA told you to keep a low profile? At least now we know what all the Bitcoin hype was about.
commercial banks are suddenly refusing their customers access to their cash - second it's called a theft or fraud
and first - it's not a bank. bank is a financial institution licensed as a receiver of deposits.
It's casino, mafia or something illegal. STOP calling this a bank.
Little late with the stories people
An ABBA Star’s Campaign for a 100% Cash-Free Sweden……Cashless Globalism Spreads
Russia’s Cashless System (NPCS) Based on Belgium’s Openway Technology
Don't you see? Putin will save us all. All hail the messiah Putin!
Edit: Aint nobody coming to save your ass. It is up to you. Wake the fuck up.
If we are corralled into a truly cashless system, how will you spend the gold and silver?
Spending will be easy. Converting, not so much. That'll have to wait for the collapse.
Let's be real, none of these moves would be happening if things weren't going to hell in a handbasket, and banning cash so they can steal people's retirement savings via negative interest rates isn't something a long-term viable entity does, but rather one of the last things a failing state does. It may take a decade or even two, but eventually convertability will return to whatever countries or government abandon the broken, failed system.
"Let's be real, none of these moves would be happening if things weren't going to hell in a handbasket, and banning cash so they can steal people's retirement savings via negative interest rates isn't something a long-term viable entity does, but rather one of the last things a failing state does. It may take a decade or even two, but eventually convertability will return to whatever countries or government abandon the broken, failed system."
No....let's get REALLY real. The Elites will keep trying until they get it right. No matter if the whole world burns. Whatever country that abandons the system will die. Period...full stop. Look at Greece. They could convert back. Hell...their new PM RAN on that very platform. What is he doing now when faced with the prospect of Greece becoming a permantly failed stated by going back to the Drachma? He turned tail and is taking it up the butt from Gernmany and the E.U. like the Greeks are famous for. He know the score. Everyone else does as well.
The Elites will never get it right, because their basic premise -- that control of a complex, chaotic system is possible -- is wrong.
And when they inevitably fail, they'll believe it was externalities -- that they didn't do enough, soon enough, or that they needed more control -- are to blame. Never themselves. But regardless, they will fail as every single prior attempt to centrally control both economies and people has failed before. All they're doing is making the crash more spectacular.
Dude....you really don't know much about human nature do you...particularly Elite nature. They will break the chaotic parts of the system down and reform it in their image of what a system should be like. And if they can't they will make partnerships with cronies in those regions they can't exactly control but need natural resources from.
If this culls a billion people from the planet over the course of 50 years through war, upheaval, etc.....then great even better. Population control via "Utopia" building.
Call it "NWO Gentrification"
Their hatred of the free market will cause a larger crash than ever before.
" If we are corralled into a truly cashless system, how will you spend the gold and silver? "
You don't....or can't. That' it...game over.
Of course people will do it on a black market ad hoc, barter basis. But it will be miniscule in a national, much less global scale. Plus, loose lips, neighbors spying, the NSA....what little gold and silver economy there is after the world goes "Apple Pay" will be put down soon enough.
I'm not sure why, but your post really evoked an almost panic reaction.
Trial runs have already happened.
F.D.R' confiscation of gold. And Nixon taking the U.S. off the gold standard when we went broke in the 70's. (we didn't have enough gold in Fort Knox to pay redemptions to our creditors)
Not to mention....1913. ('nuff 'sed)
Maybe because in the world envisiond by that post, bringing your gold to a black market ad-hoc transaction sounds like a scary bit of business. I would think that is likely what you intuitively saw if you are 'stacking' PMs. Otherwise, maybe considering how to insure you and your family when tyrany arrives at that level, since you were able to envision yourself in that place, however briefly.
Not saying these observations help, but...
...hopefully you were being faceicious.
m ng that I will be able to buy more groceries with my thin silver dimes than you will with Apple Pay.
Keep enough in the bank for the next week bills and utility payments. Keeping any more there is madness.
True words to live by.
That's more than a weekly paycheck for 59.25% of the working population of the US.
I made up the number but it feels right./s
Wire transfer it to some bank who WILL (by prior arrangement / appointment.)
That is a request that cannot be denied.
The barbarians at the gates... means the Swiss have to get their pikes out and forget about money and remember William Tell !
Who are the barbarians?... Oh just some bankers...but what bankers? ...Bankers who spin money better than us!... A banker who spins better than a gnome of Zurich?... Yes, apparently we are outwitted by the Algos! ... But we control those who control the algos...No more, the algos control us, and they are beyond human control of Central banks, not even the Draghi...You mean the Draghi has found a Leviathan more lethal than his Loch Ness creation?... Apparently. A one eyed giant, Polyphemus, mad as a hatter and aided by the Sirens!...Quick pull the plug, get the Indian to play at Zorro!... He's been arrested... Then there is no hope without Zorro we are lost!... How about Don Quichotte?... Whaat?... You know that guy Yanis, he is very Don Quichotte!... You may have a point. TO beat the algo you can't do better than that clever gamist who acts like dumb shit attacking a windmill ! ...Brussels is going mad with his shoe shuffling.
Hahahaha...Don Quichotte beats the Oligarchy...Now that! ...
Its not that, its that the Oligarchy can't stand "no resistance" as the beanstalk will show its got no future unless there is WAR like before; 'cos if nobody resists and we all wait then its faced with itself and the great ominous void! The beanstalk dies in a time of peace as their own games in the casino will bring down the casino and they with it !
Very droll, amusing and just damn funny. Milestones
Wolfie
Cash banning for the sheeple dumbasses, the elite will ALWAYS have a way to move large cash ... um donations around.
I want more of those BARBAROUS pre-1950 gold Francs.
Bitcoin.
this is comin' to a neighborhood near YOU! get the gun out and resolve to use it or your world - and your family's - is over. YOU'VE BEEN WARNED!
ok, then we buy gold and take delivery
ok, then we buy gold and take delivery
A few days ago my wife told me that our bank [CIBC, in Canada] has started charging her a percentage [~0.25] when we deposit cash from our business.
And if NIRP wasn't enough for bank runs; we roll out capital controls against the forces of NIRP.
Nothing like quandary economics!
Don't worry I got all these tidal waves resulting from the last tidal waves I got resulting from the last tidal waves I got resulting from the last tidal waves I got resulting from the last tidal waves I got as it all turns to sand castles in time.
Negative interest rates are telling us banks don't need our deposits anymore. The Central Banks are keeping them awash in cash with a few key strokes.
If this is the case- that banks are no longer a conduit between safers and borrowers then I suggest they be striped of the title of bank and labeled bookies.
It's a private club and yooz ain't in it. We make the rules. Guidelines as to how our frequent no notice policy changes operate can be found in Pamphlet ' ass fuckery made simple ' and can be downloaded from our spiders web outlet/click.
(Un)usual Terms and Conditions may apply.
They steal your deposits. Then they counterfeit fiat-money to loan out to the same people whose deposits they stole. They then control how, when, and to whom you can use their printed grift.
And people wonder why my preoccupation with guillotines.
Liberty is a demand. Tyranny is submission.
Save yourself, guillotine a bankster.
Note that the customer in question was a pension fund that presumably pays out mostly to poor people. Pension funds are designed to give banksters extra money to play with, the pensions to be defaulted on or hyperinflated away whenever necessary.
If a Saudi prince, an African dictator or a Greek oligarch had swaggered into USB and demanded 10 million francs in small notes from his account to pay for a fifth home in the Alps, he would have gotten it that business day, no questions asked. Gotta take care of the more valued customers, you know.
1) Banks never keep much currency on hand. Surely the author knew that?
2) The amount of currency in circulation in an entire economy is a tiny fraction of the "money".
3) Somewhere, there is a SNB official forced to confront the risk that their own policy actions may be about to spur a run on the banks at a wholesale / commercial level. Instead of having the central bank serve to calm fears and reduce this risk, they have heightened it. I'd hate to be on the receiving end of a regulator who has just been forced to confront the fact they may have just made a very serious mistake of the sort that would live in textbooks forever.
There is about $1.3 trillion in US cash - about half of it in $100 bills outside the US. So there is $650 Billion in the US for when the music stops. About $10.4 Trillion in US Bank Deposits. So 16X Bank deposits compared to Cash Currency in circulation in the US.
http://www.federalreserve.gov/faqs/currency_12773.htm
https://www.fdic.gov/bank/statistical/stats/2014dec/industry.html
http://www.federalreserve.gov/releases/H8/current/
Of course some of that cash was lost in tragic canoe and boating accidents.
Negative interest rates. What bullshit. I can't believe that this is what we've come to, but then again, knowing human nature and its endless capacity for greed and avarice, this shouldn't surprise me one little bit. I try to always hold out hope for homo sapiens, but I'm done. And we're done. Jefferson was sooo right about the banksters. Who needs 'em? Not me.
It was only a matter if time they didn't want to or didn't have the ability pay the interest on those NIRP loans they granted.
It's quandary economics.
If you ask me it's stupid to keep any money in a bank when:
a) You hardly get any interest on your money
b) You are denied full access by bank limits. Your money essentially becomes theirs
c) You may have to pay banks to keep your fiat currencies instead of getting any interest
d) The money deposited in the bank has no guarantees or limited guarantees
e) The money can be appropriated by the Govt. anytime they wish.
I think a barter system and settlement by gold and silver is any day preferable to this fiat currency system controlled by Govts.
We have had enough of these white collar bankster criminals who play around with our wealth and tell us what to do.
I have 1 credit card, a savings and checking account at USAA and a good Liberty safe.
The checking account is for.paying bills and groceries, and when savings acct gets to.10 g I sweep.a.grand or.so into the Liberty. I do sometimes use the surplus to shop at Gainsville Coins for pretty shiny stuff...
We're using our USAA acct less and less. Going back to checks for paying USAA back. Using cash for gas and groceries much more than previously.
The Bank of Sealy Posturepedic pays the highest effective interest rate on savings net of banking fees...
I came to this conclusion a couple of years back. Since then I only keep enough to pay bills in the bank.
I'm having a hell of a time just getting someone to show me a house without a pre-approved mortgage, even though I have the cash to buy it outright.
The listing agents keep calling me and asking me if I have financing, and I keep telling them that I neither need nor want financing.
It's a fucked up world we are living in.
Try showering.
House for sale - 200k
If you pay in Cash its 600k.
Use small CU. It might be a necisary evil.
If they get bought out by a larger one, move to another local small one.
Pick your battles.
They are trying to start a bank run. That will be a trigger excuse for martial law.
that's a good pension fund manager. $25K in savings is enough for one pensioner to live off. for the maggots it is just pocket change but for the rest of us every penny counts.
Gentlemen, there are a few things I "still don't get," and must urgently request your explanation.
1. How does printing Dollars equal issuing debt? Since the Dollar is not backed by anything, I can't see any promise to redeem it in anything. I don't understand how Dollars are debt.
2. How does money printing transfer wealth from the poor to the rich? Printing the currency debases it, creating inflation. How do the Rick profit from the Dollars they hold buying less?
Thanks for your time and any education you might be willing to offer. I have never understood this stuff.
Read this:
https://mises.org/library/mystery-banking
or listen to this:
https://mises.org/library/what-has-government-done-our-money-0
Essentially the Fed prints dollars and sells them to .gov in exchange for bonds, but banks are used as an intermediary and so make huge profits, transfering wealth to thier owners and especially managers (Dimon, Blankfein, etc). The rich tend to get the free money first, in fact those who get the free money first tend to become the rich, replacing those who have earned thier money honestly. Hence the corruption of the elite (police state) and eventual collapse due to inability to sustain production and maintain capital.
Watch this...
Hidden Secrets of Money
https://www.youtube.com/playlist?list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ
I don't want to take away from the excellent links already provided to you. But I thought I'd take a crack at a quick reply in plain terms. I hope you'll go to those links for much better info! But this is just something really simple to start:
<<How does printing Dollars equal issuing debt? Since the Dollar is not backed by anything, I can't see any promise to redeem it in anything. I don't understand how Dollars are debt.>>
1) Normally, you exchange your labour for something real: let's say, you work for an hour, and you get a sandwich lunch in return. However, maybe the guy who makes the sandwich lunch gives you a promissory note instead, and you get the sandwich lunch tomorrow instead of today. So you get a promissory note, which says you've already given him the work today, and he owes you a sandwich lunch tomorrow. We'll call that promissory note, a 'dollar'. You worked for it today; the labour you gave was real. The lunch is not real yet; but tomorrow it will be, as this promissory note (this dollar) promises. Hence, you have Faith that this dollar is good for tomorrow's lunch, and so you extend a day's Credit to the sandwich guy, that he'll pay you in real goods tomorrow, for the labour you gave him today.
When dollars are printed by a banking cartel, those are all promissory notes. You exchange your (real) labour for them today, and you accept the promissory notes (the dollars) in return. You have Faith in the promise of those notes (those dollars), that you can redeem them for real assets tomorrow. So, you extend Credit to the issuer of the notes. You work for a year, and save up enough of these notes to buy yourself a car in a year's time, for all that labour you gave, throughout the past year.
You know you'll be able to do this, because those notes are backed by the "full Faith and Credit" of the USian government. That means the government guarantees that tomorrow, they'll still be worth the labour you gave for them today. You have enough Faith in the government, to accept these promissory notes, so the government enjoys your labour today, and the dollar you accept shows that you extend them Credit instead of demanding real payment (an asset) for your labour today. You will defer your payment until tomorrow, when you'll exchange your promissory notes (your dollars) for the asset that today your labour earned. So for every one of these notes (dollars) that the private banking cartel prints, the USian government promises to make sure that the country will produce enough real assets or labour to support them with fair value tomorrow.
The government can promise this b/c it has the power to tax its population. So if the bankers print a lot of notes and send them to France, the USian government can make sure its citizens work enough tomorrow that the French government will get labour or assets back for the dollars they accept today. However many notes a banker prints, the USian government promises that it can tax enough to make sure that anyone turning in those notes, at any time will be able to receive back their fair value of promised goods or labour.
The trouble is, since there's only so much assets and labour the country is capable of producing, the more of these notes that bankers print, the less real value each one of them will eventually buy. And since the banks can print an infinite number of promissory notes against that finite amount of assets and labour, it takes more and more of those notes to buy them (the price goes up as the pool of assets & labour gets scarcer). That's inflation. Maybe all those notes you saved up and laboured for, a year later, they don't buy a car but they only buy half a car. To a certain degree, people will put up with this, maybe not notice, maybe play timing & exchange games (trading schemes, derivatives) to try to profit from it. But where it all breaks down, is when the banking cartel prints so many of those notes, that reasonable people start understanding that the government can never tax enough to make good all on all of them. That's when people start redeeming their notes faster and faster, and try to turn them in for their share of assets before the pool runs out. That's where we're coming to, today, which is why people are beginning to abandon the USD.
<<2. How does money printing transfer wealth from the poor to the rich? Printing the currency debases it, creating inflation. How do the Rick profit from the Dollars they hold buying less?>>
2) The rich have what is known as "first access to money". That means, when the banker prints, say, a $500 note, at first only the banker knows that money exists. The banker can run to the shop and buy a coat, which is marked at, say, $25, BEFORE that money gets sent out from the bank to the next level of people, who are maybe business owners. So, the next day the banker pays $475 to a rich business owner for whatever it is he does for the banker. The rich business owner then runs to the same shop where there is one less coat (real goods are scarcer by one coat since the banker already took one), and the shopkeeper has marked up the price to $75 (because coats are scarcer and in higher demand). So the business owner buys a coat for $75, and pays his middle-class managers with the remainder; say, 2 managers at $200 each. The managers both go to the shop, where supply is now scarcer, so the price is up again. So each manager buys a coat ($100 apiece), and then they pay, say, 4 poor workers $50 apiece. The 4 poor workers then run to the shop, but now there are only 2 coats left, each costing $200, so the workers must work 3 more $50 shifts to buy a coat (plus there are only 2 coats left, so 2 of the workers won't get anything at all). So you can see how the printed money has diminishing returns in real goods down the line: from the banks, to the business owners, to the managers, and last the workers, who might not be able to afford whatever goods are left at all.
Check out the short videos, documentaries, books, and lectures listed at http://endthefed.org/ under the "Getting Informed" section. If you take the time to look through all that information, you will surely get it.
When a bank extends credit to you or a business or an alien, it simply creates an accounting entry - DEBIT (ACCOUNTING debit) your account with $X and CREDIT its account with $X. A portion of this $X is required to be a bla bla "reserve". So, $X = DEBT = MAGIC $$. Hope that clears things up.
When you deposit money in a bank it ceases to be yours, you become a creditor of the bank, and stand in line with the rest of the creditors to get any payment. If you don't trust the bank, then don't loan them your money.
Its not YOUR money., thats the point.
This is a very important point that people simply do not realise - when you deposit money into a bank, you are transferring title to that money to the bank in return for an IOU. They can do anything they want with that money.
"........you are transferring title to that money to the bank in return for an IOU. They can do anything they want with that money......"
Precisely.
If you read the Contract carefully for ANY Bank, you will find this is the case.
The only "True Money" is actual physical Currency, and US Bills:
If one were to add the TOTAL Sum of US Currency ACTUALLY IN CIRCULATION along with the TOTAL of OUTSTANDING US Bills, you will find that this Sum is only a Small FRACTION of the TOTAL Economy.
These Sums can and will Survive Financial Reckoning, as neither are Encumbered, nor can be.
This is Why both Yield ZERO.
EVERYTHING else is DEBT, form or vehicle being no matter, subject to Markdown at Best, and TOTAL LOSS at Worst.
The only True Protection is Cash or US Bills.
Those who believe in "Hyperinflation" and "Collapse" of the Dollar, of course will hold neither...
Because True Suckers VOLUNTARILY Position themselves to Lose.....
Criminal putin regime showing his real face to the word openly
Criminal putin regime shows it’s aggressive regime plans by each day more and more open. Now even putin regime „defense” minister openly announces that Poland should be crossed by tanks.
Russian 'Night Wolves' bikers set out on ride across Europe despite Polish, Czech travel bans
This biker club is supported by putin regime
Meet the Night Wolves – Putin's Hell's Angels
Honoring a “Night Wolf”
and it has already announced that will use violence against Russian people if they try to protest against putin regime.
Putin’s outrider: ‘The Surgeon’ vows to quell anti-Kremlin dissent
This biker club and putin regime both admire and honor stalin – a worldwide criminal who has done similar crimes to humanity as hitler.
Museum Honoring Stalin's Legacy Set to Open in Russia
Stalin wiped from Soviet Gulag prison museum
Pro-Kremlin bikers ride for Berlin defying bans from Germany, Poland
“The Night Wolves' long-haired, heavily tattooed leader Alexander Zaldostanov led a column of bikers waving red flags with portraits of Stalin and the wartime slogan "For the Motherland! For Stalin!" out of the gang's clubhouse in northwestern Moscow.”
It’s well known fact how criminal Stalin regime murdered millions of people from many nations including Russians, Estonians, Latvians, Lithuanians, Poles, Ukranians, Georgians, etc. People where killed on the spot or send to “work camps” aka concentration camps aka GULAGS where they died from hunger, violence, sickness, etc. Many children, babies, women died during deportation to Siberia. You can learn about these facts in this documentary:
The Soviet Story (2008) subtitled
https://stopputinregime.wordpress.com/2015/04/26/crimanl-putin-regime-sh...
Fuck off.
Oy! Hasbaratchik.
Pretty fucking lame. It's you motherfuckers what killed some 66 million Russians. That Holohoax shit is just yerrasses playing ketchup.
Not fooling anyone, Nazi.
The best thing about this whole US orchestrated Ukrainian war is that is showing the entire world to see how well Jews and Nazis work together.
Only a matter of time until critical mass is reached on people's sonsciousness that Zionism and Nazism are one and the same.
Bingo !! and the USA took over where Hitler left off,
NO, Hitler wanted to get rid of the Jew bankers. ( who wanted to claim Germany as their own) The Jew bankers are claiming Merka as their own. A bit of a difference there.
Yes but the Nazi methods employed by Hitler were taken over by the USA i.e. military (shock and awe etc).
Not the ovens,,,,,,,,,,,,,,,,,,,,,,,,,,,,YET!!!
The whole oven thing was a piece of fiction, taken to hyperreal levels by Spielberg and the Hollywood propaganda engine.
Pass the blame from the perpetrator.
Zionists worked very closely with the German Nazi regime first to find a proper home for all Jews under German government (countries like Madagascar and Uganda were suggested but rejected by the Zionists who had Palestine in mind), and to encourage the emigration of Jews to Palestine under the jointly developed Haavara Plan (the Transfer Plan). Under such plans the Zionists proposed that wise Jews would accept the offer to build up Palestine, and that those who did not accept would help their cause anyway since it would produce the kind of publicity that would put fear into the rest and encourage more emigration. The overarching goal of Zionism has always been the establishment of Ersatz Israel and they were (and are) willing to make any sacrifice toward that end, even of their own people if necessary for that greater good.
You ignorance is beyond redemption. The USSR was a project of the International Jew - financed by Jewish banks primarilly in America, and implemented by the Bolsheviks, mainly internaionalist Jews. The Bolsheviks hated Russians, their culture, their Orthdocx church, their patriotism. They hated borders, desiring to rid the world of religion, national borders, ethnic cultures and replace them with a Jewish-led world government. Stalin was not Russian - he was Georgian. He assigned a Jew to create the first security agency, the Cheka. The Cheka structured itself into regions across Russia and assigned commissars to adminsister each region. Some 80% of these commissars were Jewish Internationalists. They had life or death power over all under their adminstration. Their intent was to wipe out russian private property, establish collective farms, destroy Russian religion houses of worship, criminalise the open practice of religion, and formulate a new culture.
They failed. But before they failed, they wiped out tens of millions of Russians in the process.
Why did the Jews target Russia? History. The Russians were responsible for overcoming and dismantling the Khazarian Empire (from which some 85-90% of 'Jews' today originate, and dispersing its people who fled to Northen and Central Europe, mostly to what is today Poland and Germany. The Khazarians never forgave the Russians, and never forgot. The USSR project was their chance to not only create a beachhead to a New World Order, but offered them a golden chance to take revenge on Russians.
Today that hatred still exists as Russia continues to be among the few that will not bow to the other Jewish global project, Zionism which now controls most Western governments, virtually all its media, and certainly its global financial infrstructure.
What is your version of why putin regime and that biker gang supports and admires stalin and it's crimes against humanity which where done in USSR?
"Among the Bolshevik revolutionaries who took part in the Russian Revolution of 1917, Stalin was appointed general secretary of the party's Central Committee in 1922. He subsequently managed to consolidate power following the 1924 death of Vladimir Lenin through suppressing Lenin's criticisms (in the postscript of his testament) and expanding the functions of his role, all the while eliminating any opposition. He remained general secretary until the post was abolished in 1952, concurrently serving as the Premier of the Soviet Union from 1941 onward."
http://en.wikipedia.org/wiki/Joseph_Stalin
I was too slow with your last post, but I get my chance here. FUCK OFF!
Everyone here knows that Wikipedia’s narrative is carefully policed for correct perception management.
Try harder next time if you want an extra potato.
What is your version of "truth"? That stalin had nothing to do with USSR? Thate there where no GULAGS during USSR times? That stalin had nothing to do with GULAGS?
What is your version?
What does Putin want?
America is chock full of churches that depend on CASH donations thru the collection plate (tax free). Watch the Christers go ballistic as the govt shuts them down.
Perhaps all those shyster preachers will actually have to get a real job instead of fleecing people.
Actually the "Loose Plate" cash collections are a very small fraction of any church's total donations. I have been part of the committee that counts the donations after the service at a couple of churchs over the years. Most people who give anything substantial do so by check so that the church sends a donation summary at year end.
Anyone who claims a four or more figure "cash" donation to a church in any year is going to get flagged for an audit. My tax software every year pops up an audit validation warning that my church donation "is above the typical range for a person in your income level". I am sure i will get asked for my church's contribution statement if I ever get audited.
There are no snakes involved in the service at my church, and have never seen someone declared healed at my church. Maybe some churches do get a lot of their donations in cash. But not typical in mainline denominations such as the United Methodist Church.
Chris Martenson has had two lame guests on in a row. This week's guest hasn't a clue about what is going on. Dude is completely isolated and doesn't live in the US. Although he hates the US he doesn't know shit about fighting the NWO.
Completely isolated=living in the USA.
FYI, we haven't had checks here for over 20 years. What is it with you guys in the USA and ''checks''?? Ever hear of debit cards? Have had them here for decades.
Using debit cards is embracing a cashless system.
We have cash and Debit cards. Learn how to read. I said we do NOT have checks. sheeesh. Checks is like 1980 crap here.
Sorry to hear that you are forced to live in a cashless society. How sad.
Where did I state we have a cashless society, dipshit?? learn how to read you shit for brains americunt moron.
Cash a check. Oh, butthurt, you can't.
In regards to stacking: My guess is that owners of gold or silver outside of ' legal licensed depositories' will be deemed terrorists and enemies of the state.
No place to run and no place to hide. You are correct Jumbotron.
Have to give Jim Willie credit for breaking the Swiss bank cash crunch story a couple months ago.
http://www.examiner.com/article/jim-willie-swiss-banks-now-refusing-to-a...
If you are nice and don't rock the boat we will allow you to use the money we created so you can survive == Global banksters
5. 8-10% premium for physical gold delivery in CH. Across the board.
6. SNB and everybody else, including gold dealers have a 25000CHF cash limit for gold transactions.
No escape.
Police forces have been militarised, ammo stock piled, and large FEMA camps sit empty ready to receive.
Civil war triggered by big brother financial repression.
http://m.youtube.com/watch?v=JbAl__y6mJw
"1. How does printing Dollars equal issuing debt? Since the Dollar is not backed by anything, I can't see any promise to redeem it in anything. I don't understand how Dollars are debt.
2. How does money printing transfer wealth from the poor to the rich? Printing the currency debases it, creating inflation. How do the Rick profit from the Dollars they hold buying less?"
Every "dollar" in circulation, which is defined now as mainly digits in a computer is issued by a central bank or federal reserve. The federal reserve issues that currency and the government it has issued it to must return that money to the bank with interest............. thereby creating debt.... I.E. "THE NATIONAL DEBT"
This fact is obfuscated from the public and so few people ever question it because it is just so "TECHNICAL" haha. But when the money is issued to the government, and the "government" has to repay it, the general public has a hard time grasping the fact that they are the ones who end up paying. because collectivism works for those people at the top who get the money first.
That is the answer to your first question.
The answer to the second is that the wealth transfer occurs through the relative purchasing power of that currency when it is first issued versus it's value following the transfer of that currency through various transactions during which that currency enters the stream of increasing inflation. Although this concept is difficult to grasp and appears trivial in small increments, when considered for large amounts of money(assets) over ever-larger periods of time the compounded result is evident.
I'm a lady though, not a gentleman.......... adjust your perception of the relative value of the answer accordingly!
http://m.youtube.com/watch?v=yv9UBILnbbg
Hope this helps.
The National Debt is represented by the Bond and Notes market, not the currency. That there is a correlation between currency creation and treasury auctions is true but it is not 1:1.
Theft via relative purchasing power is not the primary method. Instead, the thieves take the principal amount procured by the issued bond or note and exchange it for products and labor. Whether the purchasing power is rising or falling is irrelevant to the thief and that the victim takes notice when the purchasing power does drop is only secondary.
When a citizen gets a loan, they pledge collateral such as land, buildings, stocks, species of commodity. When any modern government gets a loan, they pledge their citizens. When this precedent was set by a direct tax on a person's income is when citizens suddenly transmogrified into slaves. So not only do the thieves steal the full value immediately, but then they require that the victims replenish what was stolen.
We can say, then, that the National Debt is not represented by currency but instead slave labor.
Thank you so much OC. I have been reading ZH for 5 years to arrive at the understanding I have today. And still I learn more each day from knowledgeable people like you. My formal education was arts and sciences.................where economics was "elective" .
You're doing fine by any realistic standard.
You're welcome.
I always found formal schools as a great second place to take a nap, especially economics class.
Good job OC, take that one step further on the expansion of illegal immigration. You'll hit a home run. Winks
Mercy; if one reads Z-Hedge (among many) and doesn't know what to do; there is no help for you.
Wake up, smell the coffee, and get your fiscal house in order!
The future is coming; and it's not gentile...
well it might just be that it took some time to weed through that story to get to the point of the story... whew...
It's a given: It's like a financial cancer. It will spread among banks, and land in virtually every country. Act now, before it's too late. Do what you can, it's better than nothing.
Telling us upfront .... that they are not going to give us cash .... discourages classic bank runs of the 1930s .... when the shinola hits the fan ?
"Why do you steal ATMs .... with your pick up ? Answer: .... because they are full of cash .... right after the armored car leaves !" The new way to run a bank !
Not to worry, a in black market, real supply and demand will flourish.
This pension fund manager needs to go back in time where personal relationships and doing your homework were the keys to business success.
A trip to see the person in question refusing funds at their office and listening silently as they explain, with an interruption to admire a family photo on the desk.
"Is that cutey little Suzy? My current photo shows her to be a few years older. Mrs. Glugstien's class, right?. Good student too. Tell her she needs to be more careful crossing that busy insection near the school. Lots of traffic there."
The personal relationships approach to problem solving is a tried and true method.
Go into your friendly neighbrhood bank and ask for your $10,000 in cash. You'll have to go through a police check and wait five days until they get it delivered.
Ask for 10M CHF and they'll quietly throw your body over a fifteen story balcony and call it suicide.
Youre being a bit hard on the manager. There would be some costs involved, and he cant pull the trigger on this without the glaring appearance that it has become 'necessary'.
Stupid pension fund manager just figured that out now that he loses 25,000 CHF on every 10M CHF? And he gets paid to do this?
I figured it out a year ago that with negative interest rates I may as well take the cash out of the bank, spread it on a bedsheet and roll in it naked.
I asked Halle Berry to join me but so far, she is ignoring my phone calls.
YES. IT. DOES.
When you deposit money in a bank, the money becomes legally, the banks money to do with as they please. It has been this way for centuries and there have been multiple legal cases in several countries affirming that this IS the case.
Your bank account is quite literally a loan to the bank.
not just a loan but an unsecured loan, That FDIC stuff can be removed in snap of bankster butt buddie sticky fingers.
END PRIVATE CENTRAL BANKING!
That's the answer. You must end private central banking. It places too much money and power in private hands - and too few of them at that. This is the evil behind the thrown. It is anti-democratic. In fact, it actively undermines democracy and democratic institutions. There is more than enough evidence to support this fact. Central banking must be put back into the hands and control of the people and democratic institutions. Far better that a national bank, created and chartered to operate in the public interest, exist, than to put this power over life and death in the hands of a few rich and self-interested men. While it may not eliminate all problems, it will certainly eliminate many of them, including banker's wars and their wars for profit. It will put some checks and balances in place. This is where your efforts and focus should be. This is where your energy should be directed. This is what you should dedicate your political life to - ending private central banking. One person at a time. One candidate at a time. One vote at a time. A movement must be created to end private central banking. A movement must be created to oppose the one world private central banking system that is knocking off country after country to implement its system of financial and political control. Do that and you will eliminate untold suffering. Do that and you will have left humanity a great gift.
Took me a week to convince my bank to give me my $17k from a 401k loan deposit. Funds to be used to develop a real estate rental income. Cash to pay for installing septic system, dozer work, fencing etc..etc... In a rural area, not everybody operates finances electronically.
It was extremely disgusting to have to go through that. Just the physical reaction from the bank employees, it was like I was burning kittens or something. You have to wait they said, will we get approval. I never heard from them and went back in and demanded my money. In the end the bank manager came down from on high to "allow" it.
"Cashless" is pure fantasy. How are the billions of poor people going to operate? The dirt floor hardscrabble poor guy in the Philippines who sells a few sticks of firewood for cooking rice to get couple pesos is gonna have to have a Iphone with a card swipe device installed?
No fucking way.
Grimaldus
We are sitting on commercial property in that nick of woods. I give it three years before we dump it. We'll probably make 500% profit. It was set to Mrs Atomizer five brothers, we made a offer that her mother couldn't refuse. Mrs Atomizer is on the shit list, fuck them we say.
At least talk about freaing Chili or Bacon or something?
I would like to say to the mentioned Pension Fund Manager: buy gold and store it yourself...I think that -in view of the notice & the foreesable future- you will be much better placed to look at the 'awesome' things to come.
Regards for all.
'They' call it 'money'.
BULLSHIT.
'Money' is what we decide it is.
The game is almost over.
When you deposit $US. in the Bank you are an Unsecured Creditor. You can lose , Negative Interest Rate and Now unable to withdraw your savings........When will we see the Revolt?
the reason?
Cause folks like me are pulling cash out and when the bank has no cash...how can they lend 9 to 1 money out with no cash in the bank?
solution? Make cash a bad thingy.
Money, meet mattress.
Bank of Sealy.
Mayonaisse jar and a shovel is much safer.
The "glden Rule" is the RULE !
Chili, like spaghetti is always better the next day, so we made it yesterday, and will finish it at the fire pit by the final step, adding the cocoa and the Masa corn meal.
We used 8 pounds of chuck roast, 2 pounds of beef brisket, and 2 pounds of lamb
We varied the proportions of meats and peppers and came up with 2 batches of chili that are very flavorful and obviously different. Here is what we started with.
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here is a post that not even a sociopathic troll could even take a pot shot at.
http://nukeprofessional.blogspot.com/2015/03/here-is-something-even-pro-...
The writing is on the wall, Get your money out of the bank Remember that you cut their access to fed funs at a 6.5 to 1 ratio for every # you withdraw. Be smart and take it a little at a time, or do a transfer to several banks and then remove it. As far as all the electronic money the hackers will make it all disapear one of these days, and good riddence to the preditory Banks.