Bank Holidays/Closures as the H1N1 Flu Pandemic Nears & FDIC Funds Dwindle
(FEDERALJACK) Something smells fishy to me here. I’ve been hearing rumors about possible bank closures around September for a few months now. I finally got my confirmation while cruising around on Steve Quayle’s site which then lead me to the tennnessee.gov website. Turns out that if bank closures do happen the excuse that is going to be used is the H1N1 Flu Pandemic. This pandemic was raised to a level 6 in June 2009 by the World Health Organization (WHO).
According to the Department of Financial Institutions of TN, on the www.tennessee.gov website, it states that “The Department of Financial Institutions considers bank determinations that H1N1 outbreaks pose legitimate health risks to the general public or significantly impacts the ability of a banking institution to maintain an appropriate level of personnel on site to meet customer needs to be included among any “similar disaster” as referenced in TCA §45-2-603. Other events may also be included among any similar disaster, and the directorate and executive management are encouraged to use reasonable discretion in applying TCA §45-2-603 and §45-2-604.
However, the safety of institution personnel and local citizens are of paramount importance when evaluating the appropriateness of closing offices.” it later continues by stating that “This bulletin shall serve as notice that no specific prior approval from the Department is required for Tennessee state-chartered banks to be closed more than two consecutive business days should a Tennessee state-chartered bank, in its discretion, determine it is necessary to temporarily close the bank or an office of the bank in accordance with TCA §45-2-603 and §45-2-604, pursuant to an H1N1 outbreak or similar disaster.”
Read the whole article at: http://www.tennessee.gov/tdfi/banking/bulletins/B-09-1.html
Combine that together with the fact that the FDIC has had a major run on it’s funds this year along with the fact that the FDIC may be officially bankrupt as of August 14th after the latest 5 bank failures. http://globaleconomicanalysis.blogspot.com/2009/08/as-of-friday-august-14-2009-fdic-is.html.
Add to that the derivatives market which is basically paper chasing more paper propping up money that does not even exist in a huge ponzi scheme very similar to the Enron scheme as far as money being laundered back and fourth between hedge funds, things aren’t looking very good. We’re talking trillions of dollars here at least 49 Trillion or more, this is what people are not talking about and what is so scary.
According to Research Analyst Robin Bagger-Sjöbäck, as of August 12th, the FDIC funds had a balance of $648.1 million. He also indicates that since mid 2009 the FDIC had already used up roughly $16 billion of the fund.
The FDIC’s 2nd Quarter Report will be out on 8/25/09 which will indicate how much trouble the banks are really in and trends forecasters are predicting possible closures of Banks from 8/26/09 onward.
So what are the possible scenarios? According to a couple of leaked letters allegedly from a large Midwestern Bank with branches in several states, they state that:
“1. All account access was to be limited by the Bank and that any withdrawls, checks, debit cards, or access of credit lines, and IRA’s could total no more than $500.00 per one or a combination of accounts every 7 business days until these limitations were lifted by Federal Authorities.
2. All lock boxes were to be sealed and access to contents disallowed by regulations imposed by Executive Order, the IRS, FDIC, and the Federal Reserve Bank until further notice.”
So it seems that the combination of this H1N1 pandemic that is looming along with the fact that the FDIC could possibly be bankrupt sounds like some kind of storm is brewing our way.
One theory suggests that the closures would be an excuse to bring in some sort of new currency into the system that would “save” us from the virus spreading through that evil cash money system the illuminati banksters have been so eager to destroy.
Then “immediately an Electronic Money System will be instituted to form the Cashless Society. Of course, a National ID/Proof of Shots Record card or permanent wrist band would be the basis of this system or if they are feeling really bold the actual use of RFID chips could be mandated by the Military and Medical Governors in conjunction with the Federal Reserve and the UN to be needed by anyone in the U.S. to transact any business, access Bank accounts, obtain medicine or food, or actually to be ……..THE MARK WHICH WILL BE REQUIRED TO BUY AND SELL. (Note: the Medical Shot Record Card sample has been held actually in the hand of a deep background source and the Metal Wrist Band device has been confirmed as in existence by another source Greg Evenson who has written about it in an alert of his own.)”
Either way I would suggest that everyone should have some reserve/emergency cash in their house and to not wait until last minute in case banks do decide to take a bank holiday. I would also recommend for people to purchase gold 1oz coins (Kruggerands tend to be the cheapest) to hold the value of the money over a longer period of time. Think of it kind of like fire insurance not so much as an investment, although it tends to do well over time, along with purchasing some silver for small transactions.
An excellent way to do this is to purchase “junk silver” which is basically change/silver coins minted on or before 1964. Easiest place to purchase that is by doing a search on e-bay for junk silver or junk coins. During the great depression, when the dollar was devalued, people ended up buying goods with the silver coins since they had some sort of value unlike the worthless dollar.
Also, if the shit really hits the fan, it would be good to familiarize yourself with survival techniques in case some sort of collapse does happen. We have a survival section up on our site to help familiarize yourself with different tehcniques: http://www.federaljack.com/special-coverage/survival/
More tips can be found here as well: http://www.stevequayle.com/News.alert/06_Prep_tips/06_Prep.index.html