June 22, 2009
Bob Chapman's influential International Forecaster is reporting on the
possibility of a so-called "bank holiday" planned for late
August or early September. According to Chapman's sources, U.S.
embassies around the world are selling dollars and stockpiling money
from respective countries where they operate.
FDR imposed a "bank holiday" soon after taking office. It
resulted in the government stealing gold from the American people and
giving them useless fiat paper money in return.
"Some US embassies worldwide are being advised to purchase
massive amounts of local currencies," writes Harry Schultz,
"enough to last them a year." Schultz publishes the Harry
Schultz Letter, an international investment, financial, economic, and
geopolitical newsletter named as "Newsletter of the Year" by
Peter Brimelow of Market Watch in 2005 and 2008.
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.
On March 10, Roosevelt issued Executive Order No. 6073, forbidding
people from sending gold overseas and forbidding banks from paying out
gold. A few weeks later, on April 5, Roosevelt issued Executive Order
No. 6102 ordering Americans to deliver their gold and gold
certificates to the Federal Reserve bank in exchange for paper fiat
money.
In other words, FDR engaged in one of history's greatest rip-offs —
that is until now.
FDR not only ripped-off the American people, but foreigners holding
dollars as well, thus ensuring the "Great Depression" would
spread around the world like a bankster engineered contagion.
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 globalist 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.
Can you say inflation?
It is no secret the elite have envisioned a global currency for some
time now. In 2007, the director of international economics at the
Council on Foreign Relations stated that the dollar and the euro are
but temporary currencies. "It is the market that made the dollar
into global money – and what the market giveth, the market can
taketh away. If the tailors balk and the dollar falls, the market may
privatize money on its own," Benn Steil pontificated.
More like the banksters taketh away — and not only money but
national sovereignty as well because a global currency will demand an
end to "monetary nationalism. "
Or as Richard N. Haass, president of the Council on Foreign Relations,
has said, "states must be prepared to cede some sovereignty to
world bodies if the international system is to function."
Mr. Schultz believes a "bank holiday" would suit the burning
desires of the international bankster elite. It will lead to
"nationalization, " which is a polite word for brazen
thievery. It will allow the government — owned lock, stock and
barrel by the global elite and run by their corrupt whores and cronies
— to rape secured creditors and bondholders. Nationalization is the
unfettered process of grabbing up of insurance companies, mortgage
companies, banks, medical care, and car companies and handing them
over to the monopoly men.
During the FDR "bank holiday," Schulz notes, "thousands
of banks never reopened; it was a face-saving way of shutting them
down. I would guess the same would occur today; thousands have little
or no net value, loaded with debt, bad mortgages."
In order soften the nation up for the coming pillage, the Obama
administration has proposed a plan to give the privately-owned and
unaccountable Federal Reserve complete regulatory oversight across the
entire U.S. economy. The new rules would see the Fed given the
authority to "regulate" any company whose activity it
believes could threaten the economy and the markets — that is to say
if it "threatens" the monopolistic interests of the bankers.
"Obama's regulatory `reform' plan is nothing less than a green
light for the complete and total takeover of the United States by a
private banking cartel that will usurp the power of existing
regulatory bodies, who are now being blamed for the financial crisis
in order that their status can be abolished and their roles handed
over to the all-powerful Fed," write Paul Joseph and Steve
Watson. "The government is ready to hand over everything to a
monolithic private corporation and a gaggle of bastard banker
offspring, that have gobbled up an amount close to the entire GDP of
the country in taxpayers' money and figuratively stuck the middle
finger up regarding questions over where that money has gone."
A "bank holiday" would work wonders for any
"regulation" the Fed and the bankers have in mind. It would
compliment the criminal consolidation now underway. It would allow
them to finally and formally devalue the dollar and usher in a global
"super currency" of control and enslavement.
A Bob Chapman subscriber added a little dinger to the prospect of the
banks going dark. The subscriber claims to have overheard two men in
FEMA jackets talking with a police chief in California, all who agreed
that the federalization of police around the country — a process
largely complete — will be required if the banks are shuttered in
late August or early September because it will get "ugly"
out there.
No doubt. Because the sort of enduring and polite American who
weathered the "Great Depression" is now in seriously short
supply.
If Mr. Schultz's prediction is correct, we can expect riots in bank
foyers and ultimately martial law to be imposed.
www.infowars. com/bankster- holiday-planned- for-september/