Officials at Bundesbank said that countries, about to go bankrupt, should draw on the private wealth of their citizens through a one-off capital levy before asking other states for assistance. Essentially a bail-in on banking accounts. They do not recommend a repeated bail-in… Yet.
After a furious public backlash on its rules that prevented customers from withdrawing large amounts of cash without a specific reason, HSBC officials have backtracked on their policy. Still, perhaps HSBC depositors should just wire their funds to a new bank, or credit union, and let HSBC scramble to replace the funds. At any rate, it appears banks are preparing themselves for an event in the not so distant future.
According to Robert Fitzwilson, unlike the start of 2013, the smell of “fiat money smoke” is in the air. After another year of massive printing and credit creation, the law of large numbers may finally be catching up with the central planners in the U.S., Europe, China and Japan.
Can’t Meet The Demand
One of the big disconnects over the past year has been the divergence between the price of paper gold and physical demand. Global mints are manufacturing as fast as they can after a 28% drop in gold prices last year. Not bad considering those paper raids and the propaganda put forth by the so-called experts.
Senator Chuck Schumer, after the IRS illegally targeted groups opposed to Obama, now wants the IRS to redouble their efforts against the Tea-Party like groups. So, who investigates Congressional malfeasance, conflicts of interest, and influence peddling Chucky? They need to redouble their efforts.
Families are running into trouble getting everyone covered when children are eligible for Medicaid but their parents are not. Children who qualify for Medicaid, the safety-net program for the poor and disabled, can’t be included in Obamawreck plans. Wouldn’t it have been nice if those who voted for Obamawreck actually read the bill before voting for it? Guess, that is too much to ask for.
The Medicaid Surprise
This was not in the fine print of Obamawreck, and there was nothing in it that changed the existing law from 1993. If a person dies under Medicaid, their estates will financially be held responsible for paying medical costs. It is reasonable to expect that Obama supporters will be exempt.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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