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OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE » Financial War Games or Cover for Something Else?

Financial War Games or Cover for Something Else?

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PurpleSkyz

PurpleSkyz
Admin
October 11, 2014 by Light Worker 29501

Financial War Games or Cover for Something Else?

Banks in the US and UK are planning a disaster recovery drill for the banks on Monday. What do you think they’re not telling us? Will this be a re-boot of the banks? Will this be the cover story for cleaning-out everybody’s bank account(s), like they did in Cyprus? -LW


Chris Giles
October 10, 2014
Financial Times
Financial War Games or Cover for Something Else?  101815199-156016453-530x298
Jason Hawkes | Iconica | Getty Images
Britain and the US will stage the first transatlantic simulation of a crisis in a large bank on Monday, in a sign of growing confidence that the authorities can now deal with the failure of large institutions.
All of the main players who would need to be involved in a failure of companies such as Bank of America , Goldman Sachs , Barclays or HSBC will gather in Washington DC to make sure they would know what to do, who to call and how to inform the public.
The move reflects the authorities’ view that they are getting close to solving the “too big to fail” problem, even for cross-border banks, outside a full-blown system-wide crisis.
George Osborne, UK chancellor, announced he would be taking part in the “war game” along with Jack Lew, US Treasury secretary, Janet Yellen, head of the Federal Reserve, Mark Carney, Bank of England governor and other senior officials from both countries.
The simulation will not mimic any particular banks but the authorities will run through the procedures they would follow if a large UK bank with US operations failed and those for a significant US bank with a British presence. Unlike domestic war games held before the financial crisis, Mr Osborne pledged to publicise the results.
Source .


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PurpleSkyz

PurpleSkyz
Admin
Financial War Games or Cover for Something Else?  Bank_troubles_not_apocalypse_3051721844

financial crisis

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
Financial War Games or Cover for Something Else?  29.si 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.”
Financial War Games or Cover for Something Else?  33
AFP Photo / Spencer Platt
READ 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.
the only winning move is not to play RT @vgmac On Monday, US and UK regulators will “war game” a big bank failure. http://t.co/b7RWCsngYU
— Matthew Zeitlin (@MattZeitlin) October 10, 2014
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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