Last week the U.S. fined BNP Paribas for dealing through their U.S. entities with the sanctioned countries of Iran and Sudan. As you know, the timing was suspect and even led Vladimir Putin to make the comment that the U.S. was blackmailing “France” to discontinue the naval arms deal with Russia. Fast forward one week and we now find out that Commerzbank and Deutsche Bank are next in line for Uncle Sam’s financial slap. http://dealbook.nytimes.com/2014/07/07/u-s-scrutiny-for-banks-shifts-to-commerzbank-and-germany/?_php=true&_type=blogs&_php=true&_type=blogs&_php=true&_type=blogs&partner=bloomberg&_r=2
Why exactly are we doing this? Is it for “the money”? Did we really hold the fine over BNP’s head as blackmail or coercion? What is the upside to fining the German banks? Did we forget that Commerzbank is partially owned by the German government? Is this how we treat “depositors” who have asked for their gold back? Wasn’t telling them no …enough of a “slap in the face”?
I have a few other pretty obvious observations and/or answers to the above questions. First off, it can’t be “for the money” because the Fed prints billions of dollars per month. What would be the purpose of taking $1 billion from these German banks if the Fed could (and does) create multiples of this in nanoseconds? The Germans already have a few bones to pick with us. They might be a little upset over the NSA spying (they have also arrested two spies within the last week) directly on their president, Angela Merkel. They might also be a little “irritated” that they cannot retrieve their gold that they deposited with us over 50 years ago. Adding the paltry $1 billion or so fine is what exactly? Salt in the wound? Is it us spitting on them and telling them “and don’t get back up either if you know what’s good for you”?
As I see this, there is no upside to it. The German banks will simply re route around using dollars between clients and Iranian or Sudanese businesses. This is the “paper” side to it, what about the “other side”? The gold side. By pushing them harder, maybe they really did want their gold back? Maybe they will say something about it publicly? Can you imagine if they did? What would gold’s price do if Germany made a public statement that they want their gold back and they want it ALL (not just 20% of it) within 30 days? $2,000 overnight? $3,000? Higher? Wouldn’t this be the equivalent of a no confidence vote for the dollar? Isn’t this a “bigger caliber” gun than anything that the U.S. can aim at them?
No matter how you look at this, we are pushing Germany directly into Mr. Putin’s open arms and into the SinoRussian family. We are so dumb that we in essence are telling them to abandon the dollar. We are telling them that the rest of the world is absolutely 100% correct, we are jerks, we can’t be trusted and shouldn’t be done business with. This is really simple stuff that apparently no one in Washington has even thought about …unless they did? Maybe this is the plan? Maybe Washington isn’t filled with a bunch of idiots, maybe it is filled with treasonous bastards intent on putting our great country in an isolated box in the corner of bankruptcy? Could anyone with even half a brain do the things we are doing? On a daily basis it now seems? In my opinion, counting your net worth in dollars is really short term thinking since the dollar is now a “short timer” currency. What else could anyone think after seeing this latest display of rocket science? Regards, Bill Holter
“Maybe this is the plan” – I would say that statement is correct Bill – they want to bring on the NWO ASAP and are doing all they can to expedite it.
I think so, no one could be this dumb.
I’ve been closely following the patterns of US fiscal policy both here and abroad for only *two months*, and in that short time I see how glaringly obvious the plan is to damage our financial system.
I agree: no one can be this consistently stupid. TPTB are engineering towards something, and any thoughtful American should be mightily concerned.
yes but the “thoughtful” are few in ranks.
Bill, I wonder what your thoughts are on the “conspiracy theory” that a few very powerful families (most notably the Rothschilds) own the bond markets, banking system, and much of the industrial assets out there, and through that, basically the western world? It therefore follows that no western country really has autonomy and most of what their politicians and bankers do and say publicly is a theatre meant for public consumption, that they are on strings and cannot really do much of anything fundamental to change policies beyond cosmetics that don’t make much difference, that it is all controlled by a few unseen masters operating behind the scenes. I hear this “theory” in varying degrees and I personally subscribe to it to some extent, although I think that if it’s true these elitists will lose a lot of power through a currency devaluation and all the strife around the world afterwards as individual countries start to reject cooperation with others. It would explain why some countries behave so oddly, because it is actually part of a grander plan that our masters are attempting to play out on a global scale.
how many “theories” have been proven to be “fact” in just the last year alone.
Bill,
It could be the plan, but most likely it’s simply the rants of a dying global power taking jabbing back to remind there distant cousins that we can. Reminder, the people in power are impompetent and arrogant. If they were the best and brightest they wouldn’t be in the positions they are in. Looking at the big picture I just hope they pull the US toward a new global financial system vs settling the transition with a major war! Frankly I’m betting with the latter option.
And just so you don’t get too distracted, right now there are a lot of on going air strikes against the ISIS in Iraq! Don’t think for a second TPTB are going to let them Iraq go without a good fight. There’s simply too much on the line for that to happen.
War has always been the way.
Bill: apparently there are few out there who understand history or the role, for centuries, played by bankers in fomenting civil unrest and war. The agenda has always been to foment chaos picking up the pieces for pennies on the dollar. It also doesn’t hurt for the sub agendas of world depopulation and global totalitarian rule. In reviewing just the last three years with Libya, Egypt, Syria, Iraq, the Ukraine etc., it certainly appears that we are rapidly approaching the end game; there’s no other way to view all of these events in context.
yes.
Step 1 – bring down the USD
Step 2 – open the border to Mexico and others
Step 3 – Finalise USD collapse, and homogenisation of USA and Mexico
Step 4 – agreement to form partial North American Union with central government and far more serfs to exploit
Step 5 – agreement to introduce a replacement currency backed by something like the Amero
Step 6 – Complete works to bring Canada into the mix;
Step 7 – pop champagne. Mission accomplished.
unfortunately yes.
i’ve been reading about the Amero for years – I could never understand it till now – cheap labour – america needs a new slave class to combat china –
“we” will be a part of this cheap labor.
Bill, I am responding to the cash issue we talked about yesterday/this morning, but will read this article later when I get the chance. I agree we should only have enough for short-term and for chaos because beyond that, cash will make lousy toilet paper at best. In my case, I have family nearby who are clueless and may need cash too, so I have a little more. I can easily see a run on banks with a derivatives explosion and the need for cash as a high possibility if not probability before a reset, but am far more heavily weighted in PMs for the other side.
10-4, we’re on the same page.
Another great article Bill. Once the mental sabotage has been complete in that the ability to care (build wealth, save, work, live for tomorrow, act morally) is replaced by simply survival it will be every man for himself. This has kept me up at night. I think about my widowed mother and my 3 year old niece and nephew often in this context. I guess what I appreciate about your articles is that you stress the urgency and reality of the high probabilities of the black swan event happening soon. It always leaves me wondering what can I, we, anyone do. I have my precious metals, I’m out of cash and the markets but I have a bit of fire in the belly not yet satisfied. What’s a guy to do once he’s personally prepared. That’s my question.
help those that you can.
Bill,
Per Andrew:
Step 1 – bring down the USD
Step 2 – open the border to Mexico and others
Step 3 – Finalise USD collapse, and homogenisation of USA and Mexico
Step 4 – agreement to form partial North American Union with central government and far more serfs to exploit
Step 5 – agreement to introduce a replacement currency backed by something like the Amero
Step 6 – Complete works to bring Canada into the mix;
Step 7 – pop champagne. Mission accomplished.
Your response: ‘unfortunately yes’
If usa loses its sovereignty and is rolled into a North American Union, Canadian storage of usa citizens’ precious metals would no longer be “off-shore” and might be demanded and/or targeted for seizure to help raise whatever $$$ to help with usa bankruptcy. What do you say about this possible scenario?
if this did happen you are correct, Canadian storage would not be “offshore”. However, the Brinks storage is “non bank” storage and presumably would not fall under any banking decrees. We also offer storage in Switzerland, Singapore and Hong Kong.
Yes Bill. Another great article.
I have become convinced over just the last 7 months…. 80-90-95-now 99% sure that it HAS to be intentional. No one can be that stupid. Look at the border situation. I hate to say this (because it makes me sick) but the only logical explanation I can see now is that just like everything else is leveraged, so is our land and natural resources… we sold our gold and our real estae all already… who knows, maybe 10 times over… in order to keep the scheme alive a little longer with the promise…. “We will ALSO GET YOU a good chunk of the $10T in depostits if we can” wink wink….just please Mister, let me stay in power just a little longer. Otherwise, they are saying come on over boys, our borders are WIDE open. You own us already so come an get it.
Tt truley gets my Scottish American blood boiling. I am not exiting. I am gonna stay and see this thru or die trying.
that was our decision also returning from Costa Rica.
thanks Rich.
So just like many before him, Steve Forbes is calling for us to go back on the gold standard before its too late. Is it not already too late? Do we have enough gold left to even do it? If we do have enough, and they did it say after the November elections, would it be possible that enough confidence is re-gained again in the dollar (pegged to gold) and it could slowly perhaps fix this mess if the other necessary measures were also taken (like cutting spending)?
too late, no gold and even if we had it the price would have to marked up a minimum 10 fold.
I think the same thing but with a very VERY small hope that… if we did go on the gold standard along with cutting the budget and other measures (which the baffoons won’t do), just maybe China and Russia would ease off seeing we are finally doing something responsible… buying us some time.
The idea being that:
A) although China has prepared itself to cut up our credit card and take that temporary pain of losing their #1 consumer, they would prefer not to go through this pain if possble.
and
B) Russia and China both don’t want to back the cougar into a cave and see the wounded animal fight…. meaning a thermal nuclear war. I believe Putin knows this could happen and is being the adult here.
I know what I am saying is a slim to nothing chance.
you are correct on an intellectual level Rich but… but…there is no intellect left here and it is too late even if we do have the gold which I am 101% convinced we do not.