Bank Apocalypse Drill: False Flag or Reset? October 12, 2014 eClinik Leave a comment
BANK APOCALYPSE DRILL: FALSE FLAG OR RESET?
For the first time in the industry’s history, a banking “apocalypse drill” is scheduled for next week.
The “too big to fail” banks are going to “simulate” a bank collapse next week, because they do realize they are actually failing, which could mean they will simulate a confiscation of all deposits.
How else could a real banking collapse? Would the simulation include erasing all financial debts, too?
Empirically, most government simulations turned out to be nothing but false flag events which have increased the corporate grip on us all. The Ebola narrative is falling
. It’s time for another event to keep the masses preoccupied.
That’s the pessimistic scenario.
What if this is just a face-saving event to implement a global financial reset that we have been anticipating for this month?
Is the Chinese Premiere Li Keqiang’s visit to Germany, Russia, and Italy
this week related to this event?
How cool would that be if the whole industry would just disappear, and people just share goods and services in the spirit of cooperation and peaceful coexistence?
The system of money is what made us poor in the first place. What we really need is more than just putting the bankers in jail
. We need the whole scam to go.
There are other forms of social competitions that we can explore, that don’t include putting a big segment of our society in generational poverty.
in any case, please be ready.
Bankocalypse drill: US and UK to run ‘too big to fail’ collapse simulation
Published time: October 11, 2014 03:07
Britain’s Chancellor of the Exchequer George Osborne (R) speaks to U.S. Treasury Secretary, Jack Lew.(Reuters / Alastair Grant)
The US and UK will stage a comprehensive simulation next week check whether the countries’ financial and banking sectors are still vulnerable to the problem of the ‘too big to fail’ institutions and coordinate their actions in case of such collapse.
Government financial leaders from Britain and US will simulate a failure of a large banking institution on Monday in Washington, DC, to test the effectiveness of each county’s banking regulations.
They hope the simulation – which will not mimic the collapse of any particular ‘too big to fail’ institution – will demonstrate what the officials have learned from the financial crisis about their respective roles, and how new practices should shield taxpayers from further bailouts. The simulation will run through procedures if a large UK bank with US operations failed, and those for a US bank with a British presence.
“We are going to make sure we can handle an institution that was previously regarded as too big to fail
,” said UK chancellor, John Osborne, speaking to journalists at an International Monetary Fund meeting in Washington on Friday. “This demonstrates the distance we have come over the last few years to build resilience and learn the lessons of the financial crisis
AFP Photo / Spencer PlattREAD MORE: ‘Too big to fail’ status gives US banks ‘free pass’ – Fed study
Participating in the “war game
” along with Chancellor Osborne will be US Treasury secretary Jack Lew, head of the Federal Reserve, Janet Yellen, and the governor of the Bank of England, Mark Carney, with senior officials from both countries.
“The purpose of the simulation was to make sure every player, including politicians, knew their own responsibilities and who needed to act, which creditors would take a hit, and how to communicate the authorities’ actions to the public
,” Osborne told the Financial Times.
It has been six years since the 2008 financial crisis when $700 billion in taxpayer dollars was used to shore up failing institutions, besides the cost of other bailout programs such as for Fannie Mae and Freddie Mac that totalled at least $135 billion more. The financial crisis lead to mass unemployment, drastic cuts to US government social programs, and contributed to the economic downfall of several European states.READ MORE: JPMorgan ‘agrees’ to tentative $13 billion penalty for role in 2008 financial crisis
Since then regulations have passed in the US – the Dodd Frank Act of 2010 that forced banks to have in place capital and to draw up plans of how they would go through an ordinary bankruptcy and which groups would be paid off first.
Next week’s simulation, the results of which are expected to be released to the public, is designed to reassure the taxpayers in both UK and the US that their money will not be misused next time when a large financial institution turns out to be not that big to fail.READ MORE: Record global debt risks new crisis – Geneva report source
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