Bob Chapman, Chairman & CEO of Barrywehmiller and #3 CEO in the World said some very important things that super star Harry Schultz, veteran newsletter writer and expert analyst reiterated in his Newsletter; He wrote,
A surprise event of magnificent magnitude and importance, with only one precedent in US history will happen.
“Some US embassies worldwide are being advised to purchase massive amounts of local currencies, enough to last them a year. Some embassies are being sent enormous amounts of US$ cash to purchase currencies from those governments, quietly, but not £’s [British Pounds]. Inside the State Dept there is a sense of sadness and foreboding that ‘something’ is about to happen, unknown as to a date, within 180 days, but could be 120-150 days.”
Notice the US Dollar and British Pound are grouped together, both to become unavailable.
“My HSL suspicion is that the Elite plan another FDR style ‘bank holiday’ of indefinite length, perhaps very soon, to let the insiders sort out the bank mess which is getting more out of their control every day. Insiders want and need to impose new bank rules. Widespread nationalization could result, already under way. It could also lead to a formal US$ devaluation, as FDR did by revaluing gold (and then confiscating it). But devalue against what? The euro? Doubtful. Gold? Maybe. Or versus the IMF basket of currencies (which seems more likely) and much in the news recently. Any kind of bank holiday will push the US dollar lower, which may be a bonus benefit to their ongoing scenario of letting the US$ fall. Such a fall would get the devaluation they want without having to declare it. In sum, the insiders want more bank and system control, fewer banks, and a lower US Dollar. A bank holiday would suit all their needs & Obviously, you cannot open safe boxes if the banks are closed, so plan accordingly. All this is speculation, but we have to go with what we’ve got, scraps of information that point to certain possibilities. In any case such a closure will, IMO, come sooner or later, as the worst of the embedded [credit] derivatives are still to be faced. We are years away from solving them because the controllers do not want to, since their fingerprints are all over them & PS: during the FDR bank holiday, 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, and bad mortgages.”
“The world is staggering today between stagflation and net deflation right now. It varies widely around globe. Net deflation is a maybe 35% risk, due to toxics [toxic assets] and/or deepening depression. Bit more likely, we will slowly creep up to a dangerous 4.5% [price] inflation on average, medium-term. But the wild card is the currency risk, which has a 50% (?) chance of boiling over and causing literally overnight (i.e. 24 hours) mega inflation in the asset markets.”
One of Bob Chapman subscribers reported he overheard two FEMA (Federal Emergency Mgmt Agency) men wearing official jackets talking to a police chief in California. FEMA would take control nationwide in a virus epidemic. They wanted to federalize the entire police system across the United States. They discussed plans for the US Govt to close the banks in late August or early September, and that will get ugly, in their words.
“This report is 100% correct. It is much worse, and it will get a lot worse than most people can imagine in their wildest dreams. The arising opportunities and arising risks are limitless. Those who get it early enough (within the next 8 weeks) will prosper, and those who do not will fail, never to get a chance to recover. It will be a mega cleansing process.
US Homeland Security Agency, HSA has extensive drills planned to prepare for national riot control in urban centers in early October.
"One should doubt that Canadian bank locations will be much different from US chaos during the period when banks are shut down temporarily. Maybe the US states along the Canadian border will accept Canadian Dollars temporarily for transactions? Who knows? Nothing in the last 18 months has been normal, and no return to normal comes. Those who think normal will return are lunatic and blind. The past is forever gone, along with its system, soon to be supplanted in violent manner with shock wave after shock wave. In fact, within 12 to 18 months, shock waves will become the norm in my view. The actual trigger events are unclear, but the credit derivatives must be breaking all over the place for last few months. Hidden fires are dealt with using AIG under the US Govt, but damage is surely occurring elsewhere. The US banking system broke last autumn. All that keeps it held together lately is corruption and rubber bands, supplied with unlimited liquidity funds channeled into the dominant syndicate centers on Wall Street, assisted by grand propaganda and phony accounting rules".
"Here is my best forecast & speculation of what might specifically occur during a US bank shutdown, and immediately afterwards".
Bank heists would be prominent and widespread, given the perfect environment of darkness. The theft would include gold bullion centers. It would also coincide nicely with the possibility of Elite theft of gold from major gold storage centers in addition to the Royal Canadian Mint. The bank heist would likely include inactive accounts nationwide as well as entire bank deposits at lesser known banks, selected as vulnerable without protection in either New York City or Washington, DC."
"Blame would be given to nameless rogues, when Wall Street firms would be deeply involved".
"During the shutdown, many regional and mid sized banks would be forced by US Govt order, under the cloak of national security and emergency, to merge with big money center banks".
"These larger banks are the zombies often described, and the banks responsible for most bond fraud if not counterfeit. They are dead. They are masquerading as viable in order to attract stock issuance capital. They would sponsor seizures painted as mergers, where perhaps the US Govt will order the majority of regional and mid sized banks to ‘team up with an upper echelon bank’ for systemic risk defensive purposes. Banks across the nation might be forced to find a money center sponsor bank. It will be a raid on their assets".
The US Dollar should suffer a 30% to 40% sudden devaluation. The gold & silver prices should rise by 20% at least, held back by continued stubborn fraud in the COMEX. The US Dollar devaluation would officially be touted as beneficial, to trigger a possible US Economic recovery. However, it would cause instant commodity price inflation and a rise in the entire national cost structure. It would be beneficial to export companies, but their customers are under extreme duress. It would at the same time inflict greater hardship on US households on a cost basis".
"The US Economic recession would worsen very badly, become a recognized depression. The red herring is the unknown effect on both credit derivatives and the COMEX gold contracts. The credit derivatives would suffer shocks from the US Treasury Bond impact, surely not positive, as bond yields would probably rise from lost confidence in both the US dollar and US T Bond simultaneously. The COMEX gold contracts are directly related to the US Dollar exchange rates".
"Major disruption and potential fractures could come to the COMEX, which could actually shut down for a longer period than the US banks".
"During the period of darkness, legitimate hope might be justified into thinking that the COMEX might actually never open. It might be broken, exposed, and suffer the shame of criminal prosecutions finally. That might be wishful thinking. Extreme problems would come, however, to the COMEX if discontinuity comes to price structures. That is a certainty!!!"
"The other major unpredictable outcome is social disorder, chaos, riots, destruction of property, and public frustration. The inaccessible bank accounts mean no new money to purchase food, to pay for utilities, to buy gasoline. The national economy would grind to a halt".
"My realistic view is that the US Govt and Ruling Elite bankers wish to spark riots so that they can declare a state of emergency, so that they can declare martial law. They anticipate a violent reaction. If viruses are unleashed at the same time, the nation will sink into total chaos and lock down into countless pockets of isolation. Shutting down the banks might be necessary to restructure, with or without criminal intent".
"Nonetheless, shutting down the banks might be a planned step toward ending the Republic and beginning a new Fascist state with totalitarian powers. They might shut down banks so as to create a response that sets into motion the new system the Ruling Elite lust for".
Cliff High believes the bank holidays happens within 150 days.
My advise is Prepare for the worst.
- Get your CASH out of the bank or credit union.
- Stock up on FOOD and all house hold supplies.
- Buy a GUN n AMMO for protection and for hunting.
" May Your Health Be With YOU! "