Prediction….


Croolrd Hillary - Crooked Clintons

This conspiracy exposé of Crooked Hillary have easily have been titled Clinton Political Machine. Go get’em Tony Newbill!

 

JRH 8/1/16

lease Support NCCR

*******************

Prediction….

 

By Tony Newbill

Sent: 7/23/2016 11:01 AM

 

Dear Team Trump, the Clinton Political Machine has the capability to orchestrate an Economic crisis to create fear in the electorate (I believe they did this in 2007-8). And Obama did this again in 2012 with the Medicare SS voters.

 

http://www.nytimes.com/2012/09/16/us/politics/in-poll-obama-opens-medicare-edge-over-romney.html?_r=0

 

Challenged on Medicare, G.O.P. Loses Ground

 

ORLANDO, Fla. — Maria Rubin is one of the coveted independent voters in this swing state — so independent that she will not say whether she is voting for President Obama or Mitt Romney. She does share her age (63) and, more quickly, her opinion on Medicare: “I’m not in favor of changing it, or eliminating it.”

 

 

But in recent weeks Mr. Obama and his campaign have hit back hard, and enlisted former President Bill Clinton as well, to make the case that the Romney-Ryan approach to Medicare would leave older Americans vulnerable to rising health care costs. …

 

 

At the heart of the conflict is the proposal backed by Mr. Romney and Mr. Ryan to change the way Medicare works in an effort to drive down health care costs and keep the program solvent as the population ages. Under their plan, retirees would get a fixed annual payment from the government that they could use to buy traditional Medicare coverage or a private health insurance policy. …

 

 

… [T]he Democratic message is resonating with voters like Ms. Rubin, who joined other independent and Democratic voters last week to hear Mr. Clinton make his pitch for Mr. Obama’s re-election in the packed ballroom of a resort hotel here.

 

 

Democrats focused heavily on Medicare at their convention and have kept up the assault since then. Last weekend in Kissimmee, Fla., Mr. Obama spoke of Republican plans for “voucherizing Medicare,” while Vice President Joseph R. Biden Jr. says Republicans will institute “vouchercare.” …

 

And soon, strategists say, Democrats will buttress their Medicare message by charging that a Romney-Ryan administration could also seek to alter Social Security, the other popular entitlement program.

 

READ ENTIRETY (Challenged on Medicare, G.O.P. Loses Ground; By JACKIE CALMES; NYT; 9/15/12)

 

 

I think Mr. Trump Can make the case that his economic and tax policies can expand the revenue flows from a 4% growth rate to pay the costs of these programs like the system was designed to in the first place. It’s the De-industrialists of the Clinton Political Machine that want to employ the Bolsheviks style trend that is causing the debt to exceed adequate supply to cripple the capital system and create a distrust for the whole economic system and then they think they can convince the American people can that a Totalitarian system is a better option, we have already heard Obama and Hilary try and sell the idea that Capitalism is a failed system, Obama’s opinion:

 

https://www.youtube.com/watch?v=T7RzcTmcFK0

 

VIDEO: President Obama: Free Market Capitalism “Doesn’t Work” 12-7-11

 

 

Posted by PenguinProseMedia

Uploaded on Dec 11, 2011

 

U.S. President declares capitalism “has never worked”. The free market has “never worked”?? Is Barack Obama deliberately burning bridges with average Americans? The free market isn’t perfect, but it’s the best system we have. Shocking ignorance and contempt for the bedrock of economic growth and engine of prosperity, the free enterprise system.

 

Hilarys opinions are VERY TELLING:

 

http://www.snopes.com/politics/clintons/marxist.asp 

 

Hillary or Karl?

A quiz about list of various statements supposedly made by Hillary Clinton.

 

Claim: List reproduces various “Marxist” statements made by Hillary Clinton.

 

[Veracity] MIXTURE

 

Example: [Collected via e-mail, August 2007]

 

A little history lesson: If you don’t know the answer make your best guess Answer all the questions before looking at the answers. Who said it?

1) “We’re going to take things away from you on behalf of the common good.”

A. Karl Marx
B. Adolph Hitler
C. Joseph Stalin
D. None of the above

2) “It’s time for a new beginning, for an end to government of the few, by the few, and for the few and to replace it with shared responsibility for shared prosperity.”

A. Lenin
B. Mussolini
C. Idi Amin
D. None of the Above

3) “(We) … can’t just let business as usual go on, and that means something has to be taken away from some people.”

A. Nikita Khrushev
B. Josef Goebbels
C. Boris Yeltsin
D. None of the above

4) “We have to build a political consensus and that requires people to give up a little bit of their own … in order to create this common ground.”

A. Mao Tse Dung
B. Hugo Chavez
C. Kim Jong Il
D None of the above

Answers:

(1) D. None of the above. Statement was made by Hillary Clinton 6/29/2004
(2) D. None of the above. Statement was made by Hillary Clinton 5/29/2007
(3) D. None of the above. Statement was made by Hillary Clinton 6/4/2007
(4) D. None of the above. Statement was made by Hillary Clinton 6/4/2007

Be afraid. Be very, very afraid and vote
Anybody (woman) that would vote for her just because they think it’s time for a female president has got to be out of their lunatic mind!

 

Origins:   This list of purported “Marxist” quotes by former first lady, senator, presidential candidate, and secretary of state Hillary Clinton is (like many collections of utterances from various political figures) difficult to rate as strictly “true” or “false”: She did make the statements reported above, but they have all been stripped of any explanatory context, and some of them had portions elided, creating potentially misleading impressions about the nature of those statements. Below we verify the source and READ ENTIRETY (Hillary or Karl? By

David Mikkelson – From the Archive; Snopes.com)

 

[Blog Editor: In case my readers are unaware, Snopes as a political fact checker is an in the tank Leftist sympathizing website. This June 2016 Daily Caller post has the goods on Snopes as far as politics go. Ergo in the Snopes article on how Marxist Crooked Hillary is, when they say the veracity of her quotes are a “Mixture” of truth, Snopes really means it is the absolute truth.]

 

And this is being done for Climate change reasons and they want this USA Model to use as a Talking Point for the rest of the world to follow.

 

This link discusses with a Economic Terrorist Expert how the Clinton Machine can work to cause crisis:

 

http://www.theblaze.com/stories/2012/01/19/economic-terrorism-was-the-2008-collapse-intentional/

 

Economic Terrorism: Was the 2008 Collapse Intentional?

 

The 2008 financial crisis was one of the worst the U.S. has ever seen. It was the culmination of several factors including poor investments, government intervention and crony capitalism. However, the confluence of these events has prompted some analysts to ask, “Was the 2008 collapse intentional?”

 

“The Pentagon released information that they had received a report — right after 2008 — that [the collapse] may be ‘economic terrorism,’” Glenn Beck said on his radio show.

 

“And then [the Pentagon report] was released to the public I think in 2011 (maybe late 2010?), and I wondered, ‘Why was this held? Who released it? Why did they release it at that time?’And we talked about it, I said, ‘I think this is a sign somebody in the pentagon wants somebody to know what is really, possibly happening here.”

 

Was the 2008 economic crash intentional? Is the U.S. the target of “economic terrorism”?

 

Kevin Freeman, the author of the aforementioned Pentagon report and Secret Weapon: How Economic Terrorism Brought Down the U.S. Stock Market and Why It can Happen Again, joined Glenn Beck to discuss what might have really happened back in 2008.

 

“There are others like George Soros that may be involved in this,” Beck said.

 

Who else may be involved in this supposed “economic terrorism”?

 

“Islamic terrorists,” Freeman said, “Osama Bin Laden has, or did, say forever, ‘Our intention is to attack the U.S. economic system. We know the cracks in the system like the lines in our own hand.’ That’s why they hit the World Trade Center towers. It was an attack on the economy as much as it was an attempt to kill people.”

 

“And it goes back even before that,” Freeman added. “The founder of the Muslim brotherhood created Sharia compliant finance and he termed it ‘financial jihad’ or ‘jihad with money.’”

 

“Boy man, I’m so glad to meet you Kevin, because we started looking into Sharia financing and there are hedge funds, gigantic hedge funds, that are all based in Sharia financing here in the United States and they’ve got some suspicious characters around them. Would you know anything about …

 

 

[Here is the Youtube version of the GBTV video on the website:]

 

VIDEO: Radio Interview w/ Glenn Beck & Kevin Freeman Book “Secret Weapon” Economic Terrorism Stock Market

 

 

Posted by GlennBeckBookList

Uploaded on Jan 18, 2012

 

http://www.GlennBecksBookList.com — Kevin Freeman, author of “Secret Weapon: How Economic Terrorism Brought Down the U.S. Stock Market” spent some time on the radio with Glenn Beck. They talked about the terror attack on 9-11 as well as the economic attack on the United States and by potentially Osama Bin Laden and or the Muslim Brotherhood and how people like George Soros benefited from the financial crisis. Mathematically it was nearly impossible for all of the card to align perfectly like they did in 2007-2008…

Read more at: http://www.GlennBecksBookList.com

 

 

Because the discussion was so important and the implications of “economic terrorism” so great, Beck invited Freeman back on the show to continue READ ENTIRETY (Economic Terrorism: Was the 2008 Collapse Intentional? By Becket Adams; The Blaze; 1/19/12 6:48am)

 

These next links have identified Multinational Bundlers for the Clinton Machine, and I think they are working to create a Economic downturn by election time to create panic and then they will have a remedy and say Trump is new and not Tested to know if his ideas will work, and this will be the way they sway the majority to pick the Clinton Machine because the idea is they are already proven.

 

These links show the way the Clinton Political machine behind the scenes is working to create economic terrorism that then they can use as examples in Public forums to say the systems are failed systems!!!!!

 

https://www.rt.com/op-edge/198664-argentina-us-vulture-funds-oil/

 

Eagles of Empire and economic terrorism: Are vulture funds instruments of US policy?

 

Is it a coincidence that the vulture funds are putting increasing pressure on Argentina as it prepares to develop the world’s second largest shale gas reserves? Are the vultures instruments of foreign policy?

 

Paranoia or insightfulness in Buenos Aires?

 

Hours after the US Embassy in Buenos Aires issued a security warning to US citizens either already inside or traveling to the South American country, Argentinian President Cristina Fernandez de Kirchner accused the US of plotting to overthrow or kill her. Speaking during a television broadcast from the Casa de Gobierno on September 30, she explained that “if something happens to me, don’t look to the Mideast, look north” to Washington, DC. She told the Argentine people not to believe anything that the US government was saying, even going as far as dismissing the ISIL/ISIS threat as a US bogeyman.

 

 

Instead of asking what led Fernandez de Kirchner to make such accusations against the US government, the question should be what has led to the deterioration of relations and diplomatic ties between Buenos Aires and Washington.

 

This deterioration has two dimensions or tracks. On the surface it is tied to Argentina’s sovereign debt, its restructuring, and hedge funds in the US. On another track it is tied to petro-politics and shale gas.

 

Economic and financial terrorism: Deadlier than the ISIL?

 

In front of the sixty-ninth session of the UN General Assembly and UN Security Council and a meeting of the UN Security Council chaired by US President Barack Obama, Argentina argued that terrorism is not only committed by violent groups that plant bombs, but also by financial entities and organizations that destabilize national economies and make whole societies destitute through speculation and financial manipulation. In Cristina Kirchner’s words, “terrorists are not only those who set off bombs, but also those who destabilize economies, causing hunger, misery, and poverty.”

 

Addressing the growing mythology and international fixation concerning the ISIL in Syria and Iraq, Argentina argued that terrorism is rooted, fuelled, and nurtured through injustice and disparity in the global system. Groups like the ISIL and al-Qaeda are merely the symptoms of something much deeper and READ ENTIRETY (Eagles of Empire and economic terrorism: Are vulture funds instruments of US policy? By Mahdi Darius Nazemroaya; RT; 10/24/14 10:10)

 

[Blog Editor: “RT” actually is an acronym for Russia Today. I mention this because the English speaking version has gained a reputation as a propaganda arm of Vladimir Putin.]

 

http://archive.larouchepac.com/node/31566

 

Argentina Activates ‘Financial Terrorism’ Law Against Hedge-Fund Economic Warfare

 

Argentina is playing hardball. Accompanied by giant headlines in financial media screeching about “economic crisis,” Donnelley & Sons, a U.S. printing firm that has operated in Argentina for many years, and has no financial problems at all (assets larger than its liabilities, little debt) — filed for and was declared to be in bankruptcy from one day to the next last week, leaving 400 workers on the street.

 

The government responded by activating a never-before-used Anti-Economic and Financial Terorism Law to file charges against Donnelley for filing for a fraudulent bankruptcy with intent to “alter the economic and financial order” and “sow terror among the population.” The government intends to also file before the U.S. Securities and Exchange Commission for an investigation of this fraudulent behavior.

 

“I don’t believe in coincidences,” President Cristina Fernandez de Kirchner explained THERE IS MORE (Argentina Activates ‘Financial Terrorism’ Law Against Hedge-Fund Economic Warfare; LaRouche PAC; 8/17/14 11:13AM)

 

[Blog Editor: Just an aside about LaRouche PAC; This PAC is a part of the LaRouche Movement of Lyndon LaRouche. This guy is a bit of an enigma because he once was a devotee of the kind of Marxism promoted by Leon Trotsky and Antonio Gramsci. That duo, particularly the latter, promoted a Marxism of gaining the confidence of laborers (prolateriat) via deceptive practices to slowly melt away traditional culture to prepare for a Marxist utopia. More recently LaRouche’s Marxist-Socialism has developed into something closer to Fascism or Nazism. Too many confuse the Fascist-Nazi paradigm with Right Wing extremism. The reality is those political ideologies are a melding of Socialism and Corporate Crony Capitalism under the direction of a State entity. This is LaRouche with a large dose of Antisemitic Conspiracy Theory thrown in to complete the heinous paradigm.]

 

Here Obama talks about the very economic crisis in Argentina the Clinton Machine economic terrorist created:

 

http://www.allenbwest.com/allen/huh-obama-says-not-much-difference-between-capitalism-and-socialism-but-heres-the-part-i-agree-with

 

HUH? Obama says not much difference between capitalism and socialism — but here’s the part I agree with

 

After his tango solo, instead of being back in America or heading to Europe showing leadership to deal with global Islamic jihadism, President Obama was in Argentina lecturing young people on economic theory.

 

 

As reported by CNSNews.com, “Thanks to advances in technology, “You don’t have to settle for the world as it is; you can create the world as you want it to be,” President Barack Obama told young people in Buenos Aires, Argentina on Wednesday. “You have the freedom to build the world in powerful and disruptive ways.”

 

One of the young community organizers at the town hall picked up on that point, saying she honestly believes that the world needs to change. She asked Obama for his advice on creating social change — in her case, by empowering young people living in poverty.

 

In the course of answering the question, the president indicated that the “sharp division” between “capitalist and communist or socialist” is starting to blur, and instead of clinging to any one of those ideologies, people should just do what works to create change:

 

“[S]o often in the past, there’s been a sharp division between left and right, between capitalist and communist or socialist,” Obama said. “And especially in the Americas, that’s been a big debate, right?

 

Oh, you know, you’re a capitalist Yankee dog, and oh, you know, you’re some crazy communist that’s going to take away everybody’s property.” And, I mean, those are interesting intellectual arguments, but I think for your generation, you should be practical and just choose from what works. You don’t have to worry about whether it neatly fits into socialist theory or capitalist theory — you should just decide what works.”

 

 

… And for Obama to try and conflate free market/free enterprise capitalism with socialism, or worse, communism clearly displays a delusional comprehension of economic theory — Friedrich Hayek and Milton Friedman are certainly choking right now. Someone get them a glass of water.

 

,,, Now, perhaps Obama was referring to “crony” capitalism where government attempts to select the winners and losers in the marketplace … Obama has been a very adept practitioner of government venture capitalism, where American taxpayer dollars support private sector endeavors based on political ideological agendas. … I believe it was during the Clinton administration when the venerable Glass-Steagall Act, which kept a separation between commercial and investment banks, was abolished — clearing the path for the 2008 financial meltdown rooted in the mortgage industry and the securitzing of toxic asset mortgages. …

 

You see, this is what happens when a progressive socialist conflates a “social change” economic program with the free market/private sector. It never ends well.

 

Now, I must ask the obvious question. What in the Sam Hill is Barack Obama doing holding a town hall meeting in Buenos Aires, Argentina? If READ ENTIRETY (HUH? Obama says not much difference between capitalism and socialism — but here’s the part I agree with… By Allen West; AllenBWest.com; 3/26/16 8:45am)

 

Mr. Trump these are the very kinds of things that cause Real Estate crisis and then cause people like you to get into reorganization predicaments, and people need to be exposed here for their treasonous acts against humanity all for their ideological purposes!!!!!

 

These links show Clinton Bundlers:

 

http://freebeacon.com/politics/top-clinton-lobbyist-bundlers-tied-foreign-banks-governments/

 

Top Clinton Lobbyist Bundlers Tied to Foreign Banks, Governments

Firms represent Saudi Arabian, Russian, Turkish, Mexican, and Japanese interests

 

A number of Hillary Clinton’s top lobbyist bundlers, who have raised millions for her presidential campaign, either directly represent foreign entities or work at firms that represent foreign entities, according to documents from the Justice Department’s Foreign Agents Registration Unit.

 

Hillary for America, Clinton’s campaign committee, has hauled in more than $7 million in bundled lobbyist contributions since its inception. The committee finished 2015 with $4.1 million in bundled lobbyist contributions. It has since added more than $2.9 million to its coffers from lobbyists, with $1.2 million of that amount pouring in during the second quarter of 2016, from April 1 to June 30.

 

Tony Podesta, owner of the Podesta Group and brother of John Podesta, the chairman of Clinton’s campaign, is a top bundler for Hillary for America. Podesta has bundled $267,835 in contributions to date. Podesta was hired to work on behalf of Saudi interests.

 

Saudi Arabia has built an extensive lobbying and public relations presence in the United States, the Washington Post reported in April. It has also supplied the Clinton Foundation with millions. The Kingdom of Saudi Arabia has given between $10 and $25 million to the foundation while READ THE REST (Top Clinton Lobbyist Bundlers Tied to Foreign Banks, Governments; By Joe Schoffstall; Washington Free Beacon; 7/21/16 12:00 pm)

 

http://www.politico.com/story/2015/08/hillary-clinton-campaign-fundraisers-new-york-121750

 

Clinton summons top campaign bundlers to New York

 

Hillary Clinton’s top bundlers from around the country are set to descend on New York City for a day of conversations with top campaign staffers next Thursday, according to a person familiar with her fundraising plans.

 

The itinerary includes a dinner with campaign manager Robby Mook and campaign chairman John Podesta, who will join the “Hillblazers” — Hillary Clinton backers who have raised There’s More (Clinton summons top campaign bundlers to New York; By GABRIEL DEBENEDETTI; POLITICO; 08/25/15 11:41 PM EDT Updated 08/26/15 12:11 AM EDT)

Dear Mr. Trump, it’s possible to see the ideology within the upper class circles of society conspiring to create a Ideological shift to Freedom and Prosperity.

 

Here is a Top Hedge Fund Manager and Hilary Clinton supporter saying Capitalism needs to be changed:

 

http://www.ted.com/talks/paul_tudor_jones_ii_why_we_need_to_rethink_capitalism

 

Paul Tudor Jones II: Why we need to rethink capitalism

 

Paul Tudor Jones II loves capitalism. It’s a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, “threatening the very underpinnings of society.” In this thoughtful, passionate talk, he outlines his planned counter-offensive, which centers on the concept of “justness.” [Go to the TED Talk link to watch Jones spin an anti-Capitalist message.]

 

Here’s another:
http://www.ted.com/talks/yanis_varoufakis_capitalism_will_eat_democracy_unless_we_speak_up

 

Capitalism will eat democracy — unless we speak up

 

Have you wondered why politicians aren’t what they used to be, why governments seem unable to solve real problems? Economist Yanis Varoufakis, the former Minister of Finance for Greece [As if Greece is a good model to bet against Capitalism in favor of Socialism], says that it’s because you can be in politics today but not be in power — because real power now belongs to those who control the economy. He believes that the mega-rich and corporations are cannibalizing the political sphere, causing financial crisis. In this talk, hear his dream for a world in which capital and labor no longer struggle against each other, “one that is simultaneously libertarian, Marxist and Keynesian.” [Again, another anti-Capitalist message from a Leftist TED Talk by Greek economist Yanis Varoufakis.]

 

Mr. Trump is going to have to bring all this out And show the American People how they are being played like Fools with this economic terrorism effect by the Clinton Machine Political players!!!!!

 

Truth to Power is the only way to prevail!!!! God Bless and Be safe on the Trail!!!!

 

_____________

Edited by John R. Houk

Any text or links encased by brackets are by the Editor.

 

© Tony Newbill

 

Exploring Newbill’s Renminbi Thoughts, Bail-ins & This is Bad- ‘China’s Renminbi Is Approved’


John R. Houk

© December 22, 2015

What is the global effect on Capitalist market economies when an avowed Communist dictatorial nation is welcomed as an elite currency in the global finance? It truly is something serious to ponder.

I can hear the hollering and cries now that the Cold War (U.S. led West vs. Communist USSR [and to a lesser extent China]) has been over since the Presidency of Ronald Reagan in the 1980s. In the case of the former Soviet Ruble and the Chinese Renminbi (aka yuan), no Communist nation ever achieved a financial rating as elite. Or at least that is until now.

The People’s Republic of China (i.e. Communist despotism) had its national currency the Renminbi declared an elite currency by the International Monetary Fund (IMF) in November 2015 (official elite start date October 2016). The Renminbi thus joins the American Dollar, the EU Euro, British Pound and Japanese Yen as a stable currency. This banks and nations can trade with the Red Chinese currency to add to reserves to back an economy. To place this in perspective check out this WaPo excerpt:

Here are a few things the four countries in the IMF’s current “basket” all have in common, beyond their exports and tradable currencies. They are all market democracies, with well-established property rights and rule of law; their achievement of those institutional advances preceded their becoming issuers of currencies dependable and liquid enough for other countries to use them as reserves. The notion of a Chinese-issued global reserve currency assumes that Beijing can essentially reverse-engineer such development, and the market confidence it inspired, in a communist nation founded and still operated on the basis of party-state control over everything from banks to courts. (Bold text is Blog Editor’s – China moves into the global currency elite; By Editorial Board; Washington Post; 12/2/15)

For all of Communist China’s strides in becoming the world’s second largest economy the fact remains it is a ONE-Party nation with property rights and the rule of Law are under the foundation of State controlled Marxist ideology which has morphed into Chinese Communism.

The pseudonymous writer Tony Newbill projects the feeling that the Renminbi will cause a bit of global financial instability as the Chinese currency becomes a reserve option threatening the stability of the Dollar, Euro, Pound and Yen. I think he is on to something as evidenced by the Islamic Supremacist dictatorship of Sudan and the Communist dictatorship of North Korea will now have greater capability of trading in Renminbi in making deals with transnational terrorists thus avoiding restrictions and sanctions from nations that use the Dollar, Euro, Pound and Yen. AND that is just one example.

In introducing an article from the NYT Newbill provokes your thinking toward the West’s banking reformation involving how the Western governments address financial crises when banks begin to fail due to bad investments, especially in the case of transnational giant too big to fail banks. Instead of using the bailout path, the G20 nations have imposed a banking rule (See Also HERE) involving Bail-inabled Bonds. Hence the term Bail-in instead of a taxpayer supported government Bailout.

Since I am not exactly a big depositor in any bank I was somewhat clueless on the difference between a Bailout and a Bail-in. To comprehend the NYT article Newbill sent me to post, I had to read up on what the heck a bail-in entailed.

Here is a just over a minute explanation of the difference between a Bailout and Bail-in:

VIDEO: Bail ln Or Bail Out? What’s The Difference? Mike Maloney

 

Posted by Mike Maloney

Published on Nov 13, 2014

More: “Just the term ‘Bail-In’ is a lie. This is something that is a marketing tool to basically…cover up a theft.” – Mike Maloney. Learn more about the film here: If you’d like to watch the whole film, you can rent or buy the film online using this link and discount code for 30%: “maloney-rent” and “maloney-buy”

From the film’s press release:

From award-winning filmmaker Tim Delmastro comes a new film about … READ THE REST

The closest article on the subject that I understood the best was from Ellen Brown on The Web of Debt Blog.

JRH 12/22/15

Please Support NCCR

*************************

New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners

By Ellen Brown

December 1, 2014

The Web of Deceit Blog

On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking.

Russell Napier, writing in ZeroHedge, called it “the day money died.” In any case, it may have been the day deposits died as money. Unlike coins and paper bills, which cannot be written down or given a “haircut,” says Napier, deposits are now “just part of commercial banks’ capital structure.” That means they can be “bailed in” or confiscated to save the megabanks from derivative bets gone wrong.

Rather than reining in the massive and risky derivatives casino, the new rules prioritize the payment of banks’ derivatives obligations to each other, ahead of everyone else. That includes not only depositors, public and private, but the pension funds that are the target market for the latest bail-in play, called “bail-inable” bonds.

“Bail in” has been sold as avoiding future government bailouts and eliminating too big to fail (TBTF). But it actually institutionalizes TBTF, since the big banks are kept in business by expropriating the funds of their creditors.

It is a neat solution for bankers and politicians, who don’t want to have to deal with another messy banking crisis and are happy to see it disposed of by statute. But a bail-in could have worse consequences than a bailout for the public. If your taxes go up, you will probably still be able to pay the bills. If your bank account or pension gets wiped out, you could wind up in the street or sharing food with your pets.

In theory, US deposits under $250,000 are protected by federal deposit insurance; but deposit insurance funds in both the US and Europe are woefully underfunded, particularly when derivative claims are factored in. The problem is graphically illustrated in this chart from a March 2013 ZeroHedge post:

Chart Comparison

 

More on that after a look at the new bail-in provisions and the powershift they represent.

Bail-in in Plain English

The Financial Stability Board (FSB) that now regulates banking globally began as a group of G7 finance ministers and central bank governors organized in a merely advisory capacity after the Asian crisis of the late 1990s. Although not official, its mandates effectively acquired the force of law after the 2008 crisis, when the G20 leaders were brought together to endorse its rules. This ritual now happens annually, with the G20 leaders rubberstamping rules aimed at maintaining the stability of the private banking system, usually at public expense.

According to an International Monetary Fund paper titled “From Bail-out to Bail-in: Mandatory Debt Restructuring of Systemic Financial Institutions”:

[B]ail-in . . . is a statutory power of a resolution authority (as opposed to contractual arrangements, such as contingent capital requirements) to restructure the liabilities of a distressed financial institution by writing down its unsecured debt and/or converting it to equity. The statutory bail-in power is intended to achieve a prompt recapitalization and restructuring of the distressed institution.

The language is a bit obscure, but here are some points to note:

o What was formerly called a “bankruptcy” is now a “resolution proceeding.” The bank’s insolvency is “resolved” by the neat trick of turning its liabilities into capital. Insolvent TBTF banks are to be “promptly recapitalized” with their “unsecured debt” so that they can go on with business as usual.

o “Unsecured debt” includes deposits, the largest class of unsecured debt of any bank. The insolvent bank is to be made solvent by turning our money into their equity – bank stock that could become worthless on the market or be tied up for years in resolution proceedings.

o The power is statutory. Cyprus-style confiscations are to become the law.

o Rather than having their assets sold off and closing their doors, as happens to lesser bankrupt businesses in a capitalist economy, “zombie” banks are to be kept alive and open for business at all costs – and the costs are again to be to borne by us.

The Latest Twist: Putting Pensions at Risk with “Bail-Inable” Bonds

First they came for our tax dollars. When governments declared “no more bailouts,” they came for our deposits. When there was a public outcry against that, the FSB came up with a “buffer” of securities to be sacrificed before deposits in a bankruptcy. In the latest rendition of its bail-in scheme, TBTF banks are required to keep a buffer equal to 16-20% of their risk-weighted assets in the form of equity or bonds convertible to equity in the event of insolvency.

Called “contingent capital bonds”, “bail-inable bonds” or “bail-in bonds,” these securities say in the fine print that the bondholders agree contractually (rather than being forced statutorily) that if certain conditions occur (notably the bank’s insolvency), the lender’s money will be turned into bank capital.

However, even 20% of risk-weighted assets may not be enough to prop up a megabank in a major derivatives collapse. And we the people are still the target market for these bonds, this time through our pension funds.

In a policy brief from the Peterson Institute for International Economics titled “Why Bail-In Securities Are Fool’s Gold”, Avinash Persaud warns, “A key danger is that taxpayers would be saved by pushing pensioners under the bus.”

It wouldn’t be the first time. As Matt Taibbi noted in a September 2013 article titled “Looting the Pension Funds,” “public pension funds were some of the most frequently targeted suckers upon whom Wall Street dumped its fraud-riddled mortgage-backed securities in the pre-crash years.”

Wall Street-based pension fund managers, although losing enormous sums in the last crisis, will not necessarily act more prudently going into the next one. All the pension funds are struggling with commitments made when returns were good, and getting those high returns now generally means taking on risk.

Other than the pension funds and insurance companies that are long-term bondholders, it is not clear what market there will be for bail-in bonds. Currently, most holders of contingent capital bonds are investors focused on short-term gains, who are liable to bolt at the first sign of a crisis. Investors who held similar bonds in 2008 took heavy losses. In a Reuters sampling of potential investors, many said they would not take that risk again. And banks and “shadow” banks are specifically excluded as buyers of bail-in bonds, due to the “fear of contagion”: if they hold each other’s bonds, they could all go down together.

Whether the pension funds go down is apparently not of concern.

Propping Up the Derivatives Casino: Don’t Count on the FDIC

Kept inviolate and untouched in all this are the banks’ liabilities on their derivative bets, which represent by far the largest exposure of TBTF banks. According to the New York Times:

American banks have nearly $280 trillion of derivatives on their books, and they earn some of their biggest profits from trading in them.

These biggest of profits could turn into their biggest losses when the derivatives bubble collapses.

Both the Bankruptcy Reform Act of 2005 and the Dodd Frank Act provide special protections for derivative counterparties, giving them the legal right to demand collateral to cover losses in the event of insolvency. They get first dibs, even before the secured deposits of state and local governments; and that first bite could consume the whole apple, as illustrated in the above chart.

The chart also illustrates the inadequacy of the FDIC insurance fund to protect depositors. In a May 2013 article in USA Today titled “Can FDIC Handle the Failure of a Megabank?”, Darrell Delamaide wrote:

[T]he biggest failure the FDIC has handled was Washington Mutual in 2008. And while that was plenty big with $307 billion in assets, it was a small fry compared with the $2.5 trillion in assets today at JPMorgan Chase, the $2.2 trillion at Bank of America or the $1.9 trillion at Citigroup.

. . . There was no possibility that the FDIC could take on the rescue of a Citigroup or Bank of America when the full-fledged financial crisis broke in the fall of that year and threatened the solvency of even the biggest banks.

That was, in fact, the reason the US Treasury and the Federal Reserve had to step in to bail out the banks: the FDIC wasn’t up to the task. The 2010 Dodd-Frank Act was supposed to ensure that this never happened again. But as Delamaide writes, there are “numerous skeptics that the FDIC or any regulator can actually manage this, especially in the heat of a crisis when many banks are threatened at once.”

All this fancy footwork is to prevent a run on the TBTF banks, in order to keep their derivatives casino going with our money. Warren Buffett called derivatives “weapons of financial mass destruction,” and many commentators warn that they are a time bomb waiting to explode. When that happens, our deposits, our pensions, and our public investment funds will all be subject to confiscation in a “bail in.” Perhaps it is time to pull our money out of Wall Street and set up our own banks – banks that will serve the people because they are owned by the people.

++++++

Here is the Tony Newbill email conspiracy theory email.

JRH 12/22/15

***************************

This is BAD

Sent by Tony Newbill

Sent: 11/30/2015 12:07 PM

Here comes the Run on the Dollar and USA and Euro Bank Bail-ins!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

+++

China’s Renminbi Is Approved by I.M.F. as a Main World Currency

By KEITH BRADSHER

NOV. 30, 2015

New York Times (INTERNATIONAL BUSINESS)

NY Times VIDEO: Chinese Currency Named as a World Reserve

http://graphics8.nytimes.com/video/players/offsite/index.html?videoId=100000004065542

 

By REUTERS | Nov. 30, 2015 | 0:52

Christine Lagarde, the managing director of the International Monetary Fund, announces that China’s renminbi will become a world reserve currency alongside the dollar, euro, pound and yen.

HONG KONG — The Chinese renminbi was anointed as one of the world’s elite currencies on Monday, a milestone decision by the International Monetary Fund that underscores the country’s rising financial and economic heft.

The move will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power. Just four other currencies — the dollar, the euro, the pound and the yen — have the I.M.F. designation.

But the path to the I.M.F. decision, a bumpy process that stretches back years, also introduced new uncertainty into China’s economy and financial system.

To meet the I.M.F. requirements, China was forced to give up some of its tight control over the currency, culminating in the abrupt devaluation of the renminbi that shook global markets in August. The changes could inject fresh volatility into the country, at a time when its economy is already slowing.

The I.M.F. designation, an accounting unit known as the special drawing rights, bestows global importance.

Renminbi, also called yuan, gains a benchmark status.

Many central banks follow this benchmark in measuring their reserves, which countries hold to help protect their economies in times of trouble. By adding the renminbi to this group, the I.M.F. effectively says that it considers the currency to be safe, reliable and freely usable.

It is a “recognition of the progress that the Chinese authorities have made in the past years in reforming China’s monetary and financial systems,” Christine Lagarde, the managing director of the I.M.F., said in a statement in Washington. “The continuation and deepening of these efforts will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy.”

The designation is a point of pride for Beijing, which had made it one of its highest economic policy priorities.

In the months before the fund’s decision, China moved aggressively to expand the currency’s standing on a global stage, building trading hubs in Europe and developing a raft of renminbi-denominated bonds and commodity contracts. In devaluing the currency, China changed the way it sets the value of the renminbi each morning, allowing market forces to play a bigger role.

The I.M.F. decision also says a lot about the waning influence of Europe: The renminbi is mainly replacing part of the euro’s role in the special drawing rights. Assessing currencies for the accounting system, the fund put a greater emphasis on their different roles in international finance. The dollar still dominates in finance and trade, while the renminbi is quickly gaining ground on the euro.

The United States Treasury said it “supported” the I.M.F. decision.

Besides its symbolic weight, the I.M.F. label, which will take effect at the end of September next year, carries specific benefits. The renminbi will become one of the currencies used in the disbursement and repayment of international bailouts denominated in the fund’s accounting unit, like Greece’s debt deal.

The renminbi’s new status “will improve the international monetary system and safeguard global financial stability,” President Xi Jinping of China said in mid-November.

While the renminbi may gain favor internationally, the I.M.F. designation does not mean that China’s economic overhaul is complete. China maintains heavy regulatory control over the country’s financial system. The country also falls short in legal protections, with the Communist Party continuing to play a strong role in deciding court cases.

Such issues could limit the overall appeal of the renminbi — and China’s ambitions.

“It is a historic moment in international finance for an emerging market economy, with a per-capita income barely a quarter that of other reserve currency economies, to be anointed as the issuer of one of the world’s major reserve currencies,” said Eswar Prasad, a former head of the I.M.F.’s China division who is now the Tolani Senior Professor of Trade Policy at Cornell University. But “the most likely scenario is that the renminbi will erode but not seriously rival the dollar’s status as the dominant global reserve currency.”

The changing currency dynamics also create new geopolitical concerns.

As the renminbi becomes more deeply woven into the global economy, it undermines the ability of the West to impose financial sanctions on countries accused of human rights abuses and other violations, like Sudan and North Korea. Such countries can increasingly carry out transactions in renminbi.

China contends that it is crucial to respect nations’ sovereignty and that leaders should be allowed to set policy without fearing international criticism or intervention. China remains a close business and financial partner of Sudan and North Korea. Mr. Xi invited the president of Sudan to a recent military parade in Beijing.

Lamido Sanusi, the governor of the Central Bank of Nigeria, said in 2010 it was ready to put up to a tenth of its entire reserves into renminbi, or $4 billion

“As the renminbi rises, countries will have more choices about where they do their banking — and how to potentially circumvent sanctions,” said Christopher Brummer, a Georgetown University law professor specializing in currencies.

Beijing’s effort to position the renminbi as a rival to the dollar traces back to the innocuously named “Document 217.”

The Chinese central bank posted the document on its website with little fanfare in August 2010. But buried in the document’s technical jargon was an important measure with global implications.

Under a new rule, China would start allowing other countries’ central banks to begin buying its bonds in Shanghai. Officials in other countries just had to get permission first from the People’s Bank of China.

Nigeria was paying close attention. Lamido Sanusi, the governor of the Central Bank of Nigeria, had already been mulling whether to park part of the country’s $40 billion in foreign exchange reserves in renminbi.

A prominent Islamic scholar, he was the son of an influential Nigerian prince who served as his country’s ambassador to China during the Cultural Revolution. Back then, his father advocated a shift by Africa away from Western dominance and toward closer relations with China.

When Mr. Sanusi became the central bank chief in 2009, Nigeria had extensive trade ties with China. In shifting a portion of reserves, he bet — correctly, as it turned out — that the renminbi would appreciate. Interest rates on renminbi-denominated bonds were also several percentage points higher than yields on comparable Treasuries.

Inclusion of the renminbi in the I.M.F.’s elite reserve currency group was so important to China’s leaders that they named it in October as one of their highest economic policy priorities in the coming years. CreditAgence France-Presse — Getty Images

Nigeria started purchasing large sums of renminbi in the little-regulated Hong Kong market in 2010, rather than Shanghai as the Chinese rules prescribed, and without seeking Beijing’s permission. Mr. Sanusi then stunned the Chinese government by mentioning at a conference a few weeks later in Nigeria’s capital, Abuja, that his country was ready to put up to a tenth of its entire reserves, or $4 billion, into renminbi.

“The Chinese Embassy came over and met me,” said Mr. Sanusi, who last year was crowned Emir Muhammadu Sanusi II, the traditional and religious leader of Kano State in northern Nigeria. “They just wanted to have clarity.”

Chinese officials, he said, were pleased that a major trading partner in Africa liked the renminbi. But Nigeria’s move also posed a dilemma. Large-scale purchases of renminbi by overseas central banks would make it more difficult for China to prevent the renminbi from appreciating, which in turn would make exports less competitive.

When Nigeria eventually requested permission to buy bonds in Shanghai, the Chinese central bank agreed, although it tightly capped the purchases. “We got something less than what we applied for,” said Lamido Yuguda, the director of reserve management at the Central Bank of Nigeria, declining to provide precise figures. “It was something we could live with.”

After the experience with Nigeria, China moved slowly and cautiously on further currency liberalization over the next four years. The government did not encourage other central banks to buy large sums of renminbi. Instead, China entered into a series of swap agreements with dozens of countries like Australia, Brazil, South Africa, Germany and Iceland.

Under these agreements, China said it would provide billions of renminbi if the other country needed them in a crisis. But China would keep the renminbi until that point, so that any interim purchases would not be sufficient to push up the value of the currency.

Beijing’s cautious strategy backfired this year, when China ramped up its campaign for I.M.F. reserve status. One of the I.M.F.’s main considerations is that the currency be “freely usable.”

The People’s Bank of China acknowledged last spring that other central banks held a modest $108 billion worth of renminbi, about 1 percent of total foreign exchange holdings by central banks. By contrast, central banks had $500 billion worth of swap agreements to obtain renminbi, more than for any other currency, including the dollar.

Beijing lobbied hard through the spring to persuade the I.M.F. to consider the swaps as evidence that the renminbi was “freely usable.” But the United States and other countries opposed bending I.M.F. rules.

The fund decided during the summer to stick to more traditional criteria, like the amount of currency that central banks had been able to buy and how easily the renminbi could be traded. After that, the I.M.F. pressed the Chinese central bank to make its currency more responsive to market forces.

China had to move fast. After this year, the next chance to push the renminbi into the fund’s accounting system would not come until 2020.

During the summer, Chinese officials made a series of rapid-fire moves, most notably devaluing the currency by 4.4 percent against the dollar as part of a new method for setting the daily trading range of the renminbi. The process would give the market more influence over the daily value of the renminbi, which is set each morning by the central bank.

The aftermath of the devaluation has been a shock to China’s system, providing a window into the uncertainty the country now faces with a more globally oriented currency.

After the devaluation, many Chinese companies moved to pay off foreign debts for fear the renminbi would fall further. Investors also sold huge sums of renminbi and switched into other currencies. China’s central bank spent nearly $100 billion in August alone to prop up the renminbi.

“Making it more market-based makes it more difficult to manage,” said Larry Hu, the chief China economist in the Hong Kong office of Macquarie Capital Securities. “But making it more market-based also makes it more efficient.

_______________

Exploring Newbill’s Renminbi Thoughts, Bail-ins & This is Bad- ‘China’s Renminbi Is Approved’

John R. Houk

© December 22, 2015

____________________

New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners

Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt. Her latest book, The Public Bank Solution, explores successful public banking models historically and globally. Her 200+ blog articles are at EllenBrown.com.

_________________________

China’s Renminbi Is Approved by I.M.F. as a Main World Currency

A version of this article appears in print on December 1, 2015, on page A1 of the New York edition with the headline: I.M.F. Adds China’s Currency to Elite Global Financial Club.

© 2015 The New York Times Company

New York Times home page

Brigitte Interview with Boone Pickens


An ACT for America email highlights a video interview that is between Brigitte Gabriel and T. Boone Pickens talking about energy security will be America’s National Security. The content of the video should be of interest to Conservatives interested in protecting a market driven economy and breaking the stranglehold of Muslim nations’ dominating global oil production as well as to Counterjihadists concerned of the threat of the antichrist religion known as Islam.

I’m posting the email text describing the video followed by the 26 minute and 52 second Youtube video.

JRH 7/11/15

Please Support NCCR

********************

Brigitte Interview with Boone Pickens

From ACT for America

Sent: 7/9/2015 8:03 PM

Few subjects are as closely connected as National Security and Energy Security in the U.S. Without a reliable source of fuel, the U.S. economy will grind to a halt, but almost every dollar that goes overseas to pay for oil helps to fund radical Islamic terror.

There is a solution, however. We need to “turn oil into salt.”

In ancient times, salt was the commodity that drove commerce. Cities rose and wars were fought over salt deposits. Today, due to refrigeration, salt is now one of the cheapest commodities available.It no longer has any strategic value. Two pieces of legislation that have been introduced in the U.S. Congress will help “turn oil into salt.” If passed and signed into law, these bills will set the stage for oil to become the salt of the modern world — abundant, cheap, and easily replaceable.

If oil is no longer a strategic commodity, the vast amount of wealth enjoyed by oil rich OPEC countries, and the terror funding that is supported by petrodollars, will disappear. Without the OPEC oil money, terror funding dries up. It’s the closest thing to a silver bullet that we know of, when it comes to fighting jihadist terror.

The bills Brigitte mentions in the video are H.R. 2418 [Blog Editor: Here and HERE] and S. 889 [Blog Editor: HERE and HERE] and, as she notes, they would use market forces to let consumers choose how they want to fuel their vehicles — and turn the conventional “gas” station into a fuel station. (What a concept! Americans actually having a CHOICE about how they want to fuel their vehicles, with no mandate and no cost to taxpayers!)

When consumers have this kind of choice, oil prices go down and money that finances countries that want nothing more than to destroy the U.S. dries up. It’s that simple.

We need you to register your support for these two bills, and to ask your federal legislators to support them as well by signing on as a co-sponsor.

Click here to call your Congressmen and tell them you support H.R. 2418, The Fuel Choice For American Prosperity and Security Act of 2015.

Click here to call your Senators and tell them to support S. 889, the Fuel Choice and Deregulation Act of 2015.

If you’d rather send a written message, click here to write to your Representative, and click here to write to your Senators.

Thank you for your help. By continuing to work together, we will accomplish a lot!

Energy Security is National Security –

Brigitte Gabriel and T. Boone Pickens talk about the direct correlation between National Security and Energy Security.

VIDEO: Act for America’s Brigitte Gabriel on Energy Security

 

Published by PickensPlan

Published on: Jun 30, 2015

T. Boone Pickens and Brigitte Gabriel, President and Founder of Act for America, discuss radical ideology and energy security.

___________________

ACT for America
869 Lynnhaven Parkway,
Suite 113, #411
Virginia Beach, VA 23452

Donate to ACT for America

About ACT for America

About Brigitte Gabriel