Friday, September 24, 2010
The Use of Technology in Fusion Centers
State and local law enforcement agencies are engaged in the day-to-day business of fighting crime and terrorism. A federal government, post event analysis concluded that sufficient information existed such that law enforcement officials could have intercepted the terrorists that flew aircraft into the World Trade Center. This “connecting-the-dots” philosophy relies heavily on real-time information integrated into a single comprehensive 360 view of the environment. The development and funding of intelligence fusion centers is a direct result of a need for better, more integrated information about suspects, locations, and conveyances that may be used in the planning or commission of a crime, including a terrorist act. The concept of the fusion center as an all source production of criminal and intelligence information is a good one. The weakness in the approach is the over reliance upon individuals staffing the fusion centers. In any business, labor costs are one of the biggest burdens to the profitability of the business. While current technology cannot replace the human brains ability for abstract thought and analysis, technology can provide methods and means for the collection, integration, analysis, and dissemination of all source intelligence to enhance fusion center operational efficiencies.
Business Intelligence- Business Intelligence is also a technology layer within the fusion center architecture. This layer contains powerful services and applications that provide summary reports, ad hoc queries, geographic and geospatial queries, visualizations, OLAP, and data mining. This is the layer that provides users with intuitive tools to search, manage, and display information of interest. An example of business intelligence in a crime fighting context may be that a series of robberies occurs. By leveraging business intelligence tools, the analyst or investigator can quickly determine the locations of specific types of crimes, time of day/day of week parameters and identify common methods of operation and common suspect demographics to determine of there are any commonalities. This information can then be readily used to develop suppression or enforcement strategies to apprehend the suspect or suspects.
Most law enforcement agencies have had a similar primary mission; that is to serve and protect the citizens and property within their respective jurisdictions. As a result of the terrorist attacks of September 11, 2001 the law enforcement community gained the additional mission of detection, deterrence, and prevention of future terrorist attacks. As a result, the law enforcement community must not only deal with the day-to-day issues of crime and the fear of crime, but also the once in a career terrorist attack. Fusion centers were developed as a response to the terrorist events that occurred on September 11, 2001. The concept of regional information sharing to fight crime was expanded to include the evolving law enforcement role of detection, deterrence, and protection against terrorist acts. There are similarities and disparities within the various fusion centers. Some fusion centers have only analytical roles while others also have the personnel and capabilities to act on intelligence and conduct investigations. Some centers have a regional outlook, sharing information among states; others have a vertical structure, connecting states to local and federal agencies, but not to other states. While some fusion centers are contained within the federally led joint terrorism task forces, others are independent. Regardless of these similarities and disparities, each fusion center has a shortage of resources, budget, and personnel to address all contingencies. By leveraging technology, fusion centers maybe able to mitigate the impact of some of these challenges.
The United States Justice Department has provided fusion center guidance and has encouraged the use of industry standards such as Global Justice XML Data Model and the National Information Exchange Model. The government has also supported Services Oriented Architecture for use within fusion centers. There are, however, a number of industries standard technologies not mentioned by the government, even though they are in use by law enforcement agencies and commercial businesses alike. The use of business intelligence, document and identity management, enterprise search, and integration technologies can all enhance the capabilities and effectiveness of fusion center analysts, administrators, and investigators.
Use of Technology in Intelligence Fusion Centers-An Oracle White Paper-pdf
Fusion Center Locations
Monday, September 20, 2010
Son says Man's car was being towed in parking dispute between grocery and bar on North Orange Avenue
An Orlando senior is in the hospital with life-threatening injuries after a confrontation with an Orlando police officer Saturday night on North Orange Avenue.
Police say Daniel J. Daley, 84, of Orlando was transported to Florida Hospital Orlando after he "struck" an officer and the officer subdued him outside the Ivanhoe Grocery at 1820 North Orange Avenue about 11 p.m.
Daley's son, Greg Daley, said the World War II veteran was in critical condition with a broken neck. Two witnesses said the officer threw the man to the ground after he touched the officer during the dispute.
The conflict began when Daley confronted a tow truck driver trying to haul his car away from a parking lot across the street from the bar where he had been drinking.
The owners of Ivanhoe Grocery and The Caboose bar have clashed for months over use of parking spaces at the store. Signs recently were placed to discourage bar customers from occupying them.
Daley, a frequent patron of The Caboose, was arguing with the tow truck driver when the police were called.
Bar owner Tim Scott said the veteran "had a few drinks but he wasn't out of control."
Details were scarce on what happened next, but Scott said Daley touched the unidentified police officer one to three times in a non-threatening fashion. The officer responded by throwing the senior to the pavement, the bar owner said.
"I've never seen anything like it," Scott said. "He hip-checked the guy and slammed his head into the pavement. He [Daley] is too old for that."
Nicole Butler, a bartender at The Caboose, said the officer "body-slammed" Daley to the ground after the veteran put his hands on the officer's shoulders.
Police left Daley on the ground once they realized he was injured and an ambulance arrived soon after.
"The officers looked at me with this look like they knew something had gone wrong," Scott said.
Orlando Police Lt. C. Laboo, a watch commander on duty Sunday, said the information he had indicated that the person who was injured was drunk and belligerent when he "struck" the officer. He said a report stated the man was arrested and listed in stable condition but did not indicate any serious injury. A full incident report is expected today.
Laboo said his information indicated that the man's injury was "some sort of laceration to the face," that sent Daley to the hospital.
Daley's said his father's condition was much worse. A photo taken at the hospital showed the veteran in a neck brace with a red welt on the left side of his forehead. His son said his father might not survive surgery to repair the severed vertebrae.
Hospital officials confirmed that the elder Daley was in critical condition and was being closely monitored.
"He's barely breathing and he might die. It's hard to understand how something like this happened," said Greg Daley, who was supposed to have breakfast with his father Sunday morning. "It wasn't like he was going to fight the officer. He's 84!"
Daley said Scott told him what happened to his father and that he had not talked to police.
The retired military veteran has been living in Orlando since 1969, after he served in both World War II and the Vietnam War. Daley has a birthday in November.
"He's never been arrested in all his life," his son said, fighting back emotion.
Three or four witnesses saw the episode, according to Scott, who also was arguing that night with Ivanhoe's owner Faith Palermo. The store owner said she called the tow company to take Daley's car because bar patrons have been hurting her business.
Palermo said she left during the confrontation with the veteran and did not see him injured.
"This is not our nature, we are embarrassed about what happened," she said.
(RevoltofthePlebs) – So many warnings, so many solutions, and so many people who couldn’t care less.
LONG AGO: A man named Noah (the conspiracy theorist of his time) warns his people that a great flood is fast approaching. His preparations for the event are largely dismissed as crazy, and he is constantly the subject of ridicule and mockery. Even as the heavy rains turn torrential; the people continue to laugh, eat, drink and dance…right up until the water level rises high enough to sweep them all away.
1912: As the RMS Titanic takes on water; word spreads among the passengers that they must prepare to abandon ship. Many refuse to board lifeboats because they are convinced that the vessel cannot sink. Some stay in the lounges to socialize while others return to their cabins and fall fast asleep. The lifeboats aboard the Titanic have the capacity to accommodate 2/3 of the passengers, but many of them are sent away nearly empty because some people refuse to take the crisis seriously.
1913: While treasonous politicians conspire to relinquish control of the U.S. economy over to European central banks; Congressman Charles Lindbergh, Sr. warns:
“This Act [the Federal Reserve Act, Dec. 23rd 1913] establishes the most gigantic trust on earth. When the President [Woodrow Wilson] signs the Bill; the invisible government of the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The worst legislative crime of the ages is perpetrated by this banking and currency Bill. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”
His warning is ignored, and by 1929, America falls victim to its first “scientifically created” depression.
PRESENT DAY: The United States has entered into yet another “scientifically created” depression—brought about by the same unsound money policies—controlled by the same corrupt banking cartels.
Somewhere in America; a young man wearing an “End the Fed” T-shirt stands alone—across the street from a Federal Reserve Bank—shouting the prophetic words of Thomas Jefferson through an amplified bullhorn:
“If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.”
Many passersby snicker while others stop to stare. A marked police cruiser pulls to the curb and demands that the young man leave the public sidewalk. He reminds the officer of his first amendment right of free speech and peaceful assembly. The officer reminds him that he couldn’t care less. He pulls a Taser from his utility belt and fires two probes into the boy’s chest—sending him to the ground—where is subdued, and then loaded into the backseat of the cruiser before being hauled away.
Among the gathering crowd, few gasp in disbelief but are afraid to say a word. Others point and laugh while the rest join in a morbid cacophony of cheers and applause.
It is a scene that is becoming far too common. Across America, peaceful dissent and protest is being met with brute force, while ordinary citizens stand on the sidelines watching in amusement as the face of their fellow countrymen meet the stamping boot of the police state.
The Constitution has become a relic, and those who live by it are becoming a nuisance to those who would like to see it torn to shreds. Word has come down from on high that these protests must end. A new strategy to quell dissent is being deployed through mainstream media personalities, who have been given orders to reign in their flocks by controlling and limiting their mode of expression.
In the days leading up to Glenn Beck’s “Restoring Honor” rally, the self-described rodeo clown instructed attendees not to bring signs or posters. Most complied, some chose instead to bring flags or dress up in colorful “period piece” costumes.
Weeks later, in a two minute segment of his Fox television program, Beck addressed his obedient flock and pleaded for them to abandon their signs and costumes altogether. He referenced a new website by Think Progress, which Beck alledges was launched, “forthe sole purpose of making you in to the crazy costume person, the racist or the conspiracy theorist. They are going to try to make you into anything that you are not.”
Instead of encouraging his viewers to be discriminating in the signs they hoist or the clothes they wear, he suggested that his viewers give in to the criticism. Beck told his people to, “Dress normally” and to, “Take the signs down.”
He then shared about a conversation he had with his daughter, who suggested that she really didn’t care what people said about her clothing. His fatherly response to her was, “well, other people do,” andthen concluded by suggesting that the lesson for the day was: “Don’t give the media even a chance to typecast you.”
This is a clever psy-op using lots of double speak. Beck is actually conditioning his people to be shamed over the use of signs, loud speech and clothing with political statements. By instructing his people to avoid criticism, he is actually projecting that he concurs with the criticism itself.
Once these people accept that this behavior is a social faux pas, they too will join into the criticism and demonization of those who hold signs, use bullhorns or wear T-shirts with statements like “9/11 Was an Inside Job,” or “Don’t Tread on Me.”
Beck also suggested to his viewers that instead of bringing signs, they should bring their children. This is an even more sinister plan. The idea here is to use children as a tool to further demonize protestors. At certain events, Beck’s “quiet” minions will show up—with their sons or daughters in tow—and confront more passionate demonstrators and remind them to, “Keep it down– children are present.” I’m sure you can envision how that will look on the evening news.
But this strategy to quell dissent is not confined to the establishment right. The establishment left has its own plan, ripped straight from the pages of leftist icon Saul Alinsky’s “Rules for Radicals.” Rule #5 of that book states:
“Ridicule is man’s most potent weapon. It is almost impossible to counteract ridicule. Also it infuriates the opposition, which then reacts to your advantage.”
On October 30, 2010—the Daily Show’s Jon Stewart and Stephan Colbert of the Colbert Report will be staging duel rallies in Washington D.C. to spoof Glenn Beck’s “Restoring Honor” rally and the Tea Party movement in general.
While we all enjoy good satire from time to time—even when the ribbing is done at our expense—these particular events should not be merely taken at face value.
The home page for Jon Stewart’s “Rally To Restore Sanity,” describes the event as,
“…a rally for the people who’ve been too busy to go to rallies, who actually have lives and families and jobs (or are looking for jobs)… Think of our event as Woodstock, but with the nudity and drugs replaced by respectful disagreement.”
Respectful disagreement? This is sure a stark contrast to the liberal left that pioneered the explosive, ‘in-your-face’ anti-war, anti-fascist movement of the 1960’s and 70’s. Today, the liberals seem to have no time for that. But apparently some will at least be able to find the time to attend a mock rally of tomfoolery that serves no other purpose than to further alienate the left from the right.
The page goes on to read, “We’re looking for the people who think shouting is annoying, counterproductive, and terrible for your throat…bring your indoor voice”
Yeah, God forbid that we annoy our oppressors with our grievances or scratch our throats while exercising our first amendment rights. The reason we’re in the mess we’re in is because too many people have been using their “indoor voice” for too many years. Silence and complacency are the only things that are counterproductive. I shutter to think what might have happened if Paul Revere had been stopped midway through his midnight ride and convinced that his “shouting” was “annoying” and “counterproductive.”
The liberals have lost their mojo when it comes to demonstrations. Their recent attempts to counter the Tea Party movement with a Coffee Party movement have thus far been an epic failure. During the Bush years, there was at least some semblance of an anti-war movement. But as soon as Obama took office, that all but disappeared.
The popularity and effectiveness of Town Hall confrontations and Tea Party demonstrations has overshadowed the liberal voice. Now, they are turning to more drastic measures by using ridicule to shame and silence their opposition.
Even some Tea Party groups, who many believe are free of establishment control, are starting to sound like they have been co-opted, and are preaching the same rhetoric as Glenn Beck.
Amy Kremer, chairman of the Tea Party Express, recently said, “The time has come for us to put down the protest signs and pick up the campaign signs and get engaged. We have stood on the sidelines for long enough protesting.”
So now we have both the establishment left and right working in concert to stifle the steadfast American tradition of dissent. The right will be cordial, the left will laugh and the criminals in our government will have nice quiet streets to travel down as they take this country straight to Hell.
Source: Revolt of the Plebs
US Departments of Labor and Treasury Schedule Hearing on Confiscation of Private Retirement Accounts
By Patrick A. Heller on September 1st, 2010
Categories: Featured Articles, Gold and Silver Commentary, Precious Metals
On August 26, the US Department of Labor issued a news release (http://www.dol.gov/ebsa/newsroom/2010/ebsa082610.html). It lists the agenda for the joint hearings being held with the Department of Treasury September 14-15, 2010 on what is euphemistically called “lifetime income options for retirement plans.” The hearings are being conducted by the Labor Department’s Employee Benefits Security Administration.
I don’t like speaking in tabloid-style terms, but the unstated agenda of these hearings, as I understand it, is to push for the US government to eventually nationalize (confiscate) all assets in private Individual Retirement Accounts (IRAs) and 401K plans!
The US government is desperate to get its hands on private assets to help cover soaring budget deficits and debts, and this is simply the largest and easiest piggy bank that could be seized. The Investment Company Institute estimates that at the end of 2008 that there were $3.613 trillion of assets in IRAs and $2.350 trillion of assets in 401K plans.
For more than the past ten years, I have warned readers that the US government was eventually going to go after private retirement accounts. I considered that as the most important reason to avoid establishing precious metals IRAs. Very few other writers (Ron Holland being one) have picked up on this issue as early as I did. In fact, the mainstream media pretty much ignored the subject even after a House Committee held hearings on the issue in October 2008.
Obviously, an outright seizure of assets would meet stiff resistance from the public. So the confiscation will never be described as such by government officials. Expect to see terms such as “retirement income protection” thrown around. It is highly likely that such a program would be implemented in steps to help overcome public opposition.
The US government plan is to eventually take ownership of all assets in IRAs and 401K accounts and replace them with US government “Treasury Retirement Bonds.” In the October 2008 hearings, it was proposed that these bonds pay a 3% interest rate. Another major change is that, upon retirement, the individual’s retirement account would be converted into an annuity. Once the individual is deceased, the individual’s heirs would not inherit anything (similar to what happens now with Social Security “accounts”).
Among the steps that could be taken to accomplish total confiscation are to first make the conversion voluntary, then make it mandatory for only a portion of total assets. The final step would be making it 100% mandatory for 100% of all assets. One idea proposed in the October 2008 House Committee hearings (after trillions of dollars had already been lost in most assets categories) to help push this plan onto the public, was to allow the seized assets to be replaced with government bonds at a face value of a previous higher valuation date. The idea was that a private citizen, who might have lost 20-50% of his retirement asset value, would be much more willing to accept an inferior retirement asset if doing so allowed them to recoup the losses.
Obviously, brokerage companies and mutual funds strongly object to the potential loss of fees they are now receiving for private retirement plan services. The Investment Company Institute, whose member companies manage more than $11 trillion of assets for about 90 million investors, reports that 96% of surveyed households object to the US government requiring that retirement assets only be distributed as annuities. Among the scheduled speakers at the upcoming hearings are representatives from the Investment Company Institute, Fidelity Investments, Putnam Investments, Lincoln Financial, and Vanguard.
These mid-September hearings have to be evaluated in conjunction with the introduction on August 5 of S. 3760, sponsored by Senators Jeff Bingaman (D-NM) and John Kerry (D-MA) to established mandatory automatic IRAs for many workers who are not covered by company retirement programs. If enacted, employers of such workers would be required to pay 3% of compensation into these accounts, which would have the effect of increasing the assets that the US government could then seize.
As recently as my July 27 CoinUpdate column, I have continued to warn readers to avoid establishing precious metals IRAs—specifically because of this risk of confiscation. I have also long advised that the companies pushing such accounts to customers were giving their customers bad advice.
But, if you already have a precious metals IRA, what can you do now to continue to hold gold and silver as insurance against the decline in the value of other assets? I’m sorry, but I don’t have any perfect solutions.
Any legislation is likely to take time before it becomes law. Therefore, while individuals need to begin to plan how to protect themselves, there is no need for immediate knee-jerk reactions.
Among the options to consider are distributing assets from the retirement accounts and paying the respective income taxes on them. In this way, you can maintain custody of most or all of the assets (depending on where you come up with the funds to pay the taxes). However, if you are under the age of 59-1/2, you may be subject to an extra 10% excise tax for taking a premature distribution. As ugly as this option is, which could accelerate tax payments, it is perhaps the best protection against having assets turned into US Treasury debt.
Another possibility is to sell off your precious metals in a retirement account and replace this holding with gold and silver outside of any retirement account. This would preserve your precious metals position, though it would leave other assets at risk of confiscation.
For some, it may make sense to see what kind of incentive (bribe) is offered for those who voluntarily convert their assets into US Treasury debt. Because gold and silver prices have been rising for the past decade, though, there may not be any such benefit available.
If I hear of other good ideas for protecting wealth from what I expect will ultimately be outright confiscation of IRAs and 401K assets, I will pass them along. In the meantime, give serious consideration as to whether it is worth making future contributions to private retirement accounts.
Keep in mind, contemplating confiscation of private retirement assets is a sign of extreme desperation by the US government. By implication, it is a loud warning that the future value of the US dollar is almost certain to be much lower than it is today. Owning gold and silver, outside of private retirement accounts, is now a much more important wealth-protection step than ever before.
Sunday, September 12, 2010
Global Collapse of the Fiat Money System: Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011
When Quantitative Easing Has Run Its Course and Fails
by Matthias Chang
Readers of my articles will recall that I have warned as far back as December 2006, that the global banks will collapse when the Financial Tsunami hits the global economy in 2007. And as they say, the rest is history.
Quantitative Easing (QE I) spearheaded by the Chairman of Federal Reserve, Ben Bernanke delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.
That is why in November of 2009, I was so confident to warn my readers that by the end of the first quarter of 2010 at the earliest or by the second quarter of 2010 at the latest, the global economy will go into a tailspin. The recent alarm that the US economy has slowed down and in the words of Bernanke “the recent pace of growth is less vigorous than we expected” has all but vindicated my analysis. He warned that the outlook is uncertain and the economy “remains vulnerable to unexpected developments”.
Obviously, Bernanke’s words do not reveal the full extent of the fear that has gripped central bankers and the financial elites that assembled at the annual gathering at Jackson Hole, Wyoming. But, you can take it from me that they are very afraid.
Let me be plain and blunt. The “unexpected developments” Bernanke referred to is the collapse of the global banks. This is FED speak and to those in the loop, this is the dire warning.
So many renowned economists have misdiagnosed the objective and consequences of quantitative easing. Central bankers’ scribes and the global mass media hoodwinked the people by saying that QE will enable the banks to lend monies to cash-starved companies and jump start the economy. The low interest rate regime would encourage all and sundry to borrow, consume and invest.
This was the fairy tale.
Then, there were some economists who were worried that as a result of the FED’s printing press (electronic or otherwise) working overtime, hyper-inflation would set in soon after.
But nothing happened. The multiplier effect of fractional reserve banking did not take off. Bank lending in fact stalled.
Let me explain in simple terms step by step.
1) All the global banks were up to their eye-balls in toxic assets. All the AAA mortgage-backed securities etc. were in fact JUNK. But in the balance sheets of the banks and their special purpose vehicles (SPVs), they were stated to be worth US$ TRILLIONS.
2) The collapse of Lehman Bros and AIG exposed this ugly truth. All the global banks had liabilities in the US$ Trillions. They were all INSOLVENT. The central banks the world over conspired and agreed not to reveal the total liabilities of the global banks as that would cause a run on these banks, as happened in the case of Northern Rock in the U.K.
3) A devious scheme was devised by the FED, led by Bernanke to assist the global banks to unload systematically and in tranches the toxic assets so as to allow the banks to comply with RESERVE REQUIREMENTS under the fractional reserve banking system, and to continue their banking business. This is the essence of the bailout of the global banks by central bankers.
4) This devious scheme was effected by the FED’s quantitative easing (QE) – the purchase of toxic assets from the banks. The FED created “money out of thin air” and used that “money” to buy the toxic assets at face or book value from the banks, notwithstanding they were all junks and at the most, worth maybe ten cents to the dollar. Now, the FED is “loaded” with toxic assets once owned by the global banks. But these banks cannot declare and or admit to this state of affairs. Hence, this financial charade.
5) If we are to follow simple logic, the exercise would result in the global banks flushed with cash to enable them to lend to desperate consumers and cash-starved businesses. But the money did not go out as loans. Where did the money go?
6) It went back to the FED as reserves, and since the FED bought US$ trillions worth of toxic wastes, the “money” (it was merely book entries in the Fed’s books) that these global banks had were treated as “Excess Reserves”. This is a misnomer because it gave the ILLUSION that the banks are cash-rich and under the fractional reserve system would be able to lend out trillions worth of loans. But they did not. Why?
7) Because the global banks still have US$ trillions worth of toxic wastes in their balance sheets. They are still insolvent under the fractional reserve banking laws. The public must not be aware of this as otherwise, it would trigger a massive run on all the global banks!
8) Bernanke, the US Treasury and the global central bankers were all praying and hoping that given time (their estimation was 12 to 18 months) the housing market would recover and asset prices would resume to the levels before the crisis. .
Let me explain: A House was sold for say US$500,000. Borrower has a mortgage of US$450,000 or more. The house is now worth US$200,000 or less. Multiply this by the millions of houses sold between 2000 and 2008 and you will appreciate the extent of the financial black-hole. There is no way that any of the global banks can get out of this gigantic mess. And there is also no way that the FED and the global central bankers through QE can continue to buy such toxic wastes without showing their hands and exposing the lie that these banks are solvent.
It is my estimation that they have to QE up to US$20 trillion at the minimum. The FED and no central banker would dare “create such an amount of money out of thin air” without arousing the suspicions and or panic of sovereign creditors, investors and depositors. It is as good as declaring officially that all the banks are BANKRUPT.
9) But there is no other solution in the short and middle term except another bout of quantitative easing, QE II. Given the above caveat, QE II cannot exceed the amount of the previous QE without opening the proverbial Pandora Box.
10) But it is also a given that the FED will embark on QE II, as under the fractional reserve banking system, if the FED does not purchase additional toxic wastes, the global banks (faced with mounting foreclosures, etc.) will fall short of their reserve requirements.
11) You will also recall that the FED at the height of the crisis announced that interest will be paid on the so-called “excess reserves” of the global banks, thus enabling these banks to “earn” interest. So what we have is a merry-go-round of monies moving from the right pocket to the left pocket at the click of the computer mouse. The FED creates money, uses it to buy toxic assets, and the same money is then returned to the FED by the global banks to earn interest. By this fiction of QE, banks are flushed with cash which enable them to earn interest. Is it any wonder that these banks have declared record profits?
12) The global banks get rid of some of their toxic wastes at full value and at no costs, and get paid for unloading the toxic wastes via interest payments. Additionally, some of the “monies” are used by these banks to purchase US Treasuries (which also pay interests) which in turn allows the US Treasury to continue its deficit spending. THIS IS THE BAILOUT RIP OFF of the century.
Now that you fully understand this SCAM, it is left to be seen how the FED will get away with the next round of quantitative easing – QE II.
Obviously, the FED and the other central banks are hoping that in time, asset prices will recover and resume their previous values before the crisis. This is a fantasy. QE II will fail just as QE I failed to save the banks.
The patient is in intensive care and is for all intent and purposes brain dead, although the heart is still pumping albeit faintly. The Too Big To Fail Banks cannot be rescued and must be allowed to be liquidated. It will be painful, but it is necessary before there is recovery. This is a given.
When the ball hits the ceiling fan, sometime early 2011 at the earliest, there will be massive bank runs.
I expect that the FED and other central banks will pre-empt such a run and will do the following:
1) Disallow cash withdrawals from banks beyond a certain amount, say US$1,000 per day; 2) Disallow cash transactions up to a certain amount, say US$10,000 for certain transactions; 3) Transactions (investments) for metals (gold and silver) will be restricted; 4) Worst-case scenario – the confiscation of gold AS HAPPENED IN WORLD WAR II. 5) Imposition of capital controls etc.; 6) Legislations that will compel most daily commercial transactions to be conducted through Debit and or Credit Cards; 7) Legislations to make it a criminal offence for any contraventions of the above.
Maintain a bank balance sufficient to enable you to comply with the above potential impositions.
Start diversifying your assets away from dollar assets. Have foreign currencies in sufficient quantities in those jurisdictions where the above anticipated impositions are least likely to be implemented.
There will be a financial tsunami (round two) the likes of which the world has never seen.
Global banks will collapse!