Very Important Post - Banking

The Pimpernel is in sort of a state of shock. I just read a paper that was jointly done by the Bank of England the FDIC. I am going to post a link to the paper. Resolving Globally Active, Systemically Important, Financial Institutions. And here is another paper on the same thing. Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL . I will try and explain what they say; but, to assist here is an article that simplifies it. Counterpunch - The Confiscation Scheme Planned for US and UK Depositors.

Here it is in a nutshell. Basically, they are saying that we are going to see large systematic failures in the banking industry. The solution will be to have the FDIC remove the bank management, liquidate the debt and give the banks to the depositors through stock exchanges. They are going to pretty much do the same thing that was done in Cyprus. I do not know when this is going to happen; but, it is coming.

I have written before about how many countries restrict people's ability to pay in cash for things above a certain amount. There is not enough actual cash in the world in relationship to the debt. While I have been expecting these things to occur, I am still somewhat stunned to read it in their own words. The documents say that they have been working on these things for a few years. This is also not surprising considering the IMF's plan. Wikipedia - The Chicago Plan Revisited or you can read the actual document from the IMF's own website (something I have posted before). IMF - The Chicago Plan Revisited.

Don't bother trying to take all of your money out of the banks. It won't do you any good. Remember the Chicago Plan calls for changing to a new currency, you will have to trade in your dollars for the new currency and I bet if you have it in cash, they won't let you convert more than a certain amount. Please do not be overly disturbed by what is coming. There is absolutely nothing you can do. And here is an article that I find very interesting. Business Insider - David Stockman Is Outraged — And A Lot Of Powerful People Won't Like What's In His New Book.

We are going to completely change the way banking and the world's economy works. Sorry, I am at a loss for words and am still trying to process what I read. I will try and keep my readers informed as things transpire. One thing is clear to me, if a bank is taken over by the depositors, they are really going to want you to pay back your debts. People will not find their neighbor declaring bankruptcy acceptable. They are also going to be much more restrictive on people getting loans.