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While many refuse to believe that it can happen,
evidence for why it is absolutely critical to stock up for hard times and
worst case scenarios is and has been staring us in the face for the last
several years (never mind the thousands of years of historical precedent).
The latest warning signs are, once again, popping up
in Europe and should be taken seriously, as it is only a matter of time
before such events play out in the rest of the world, including right here at
home:
Via Adiconsum
Italia –
Translated via Google
BNI depositors unable to make withdrawals /
payments, payments of utility bills, mortgage payments, taxes
Peter Giordano, Adiconsum:
“Grave of the Bank of Italy’s attitude that takes action without
considering the impact on depositors, and especially on single-income
families and pensioners”
The Bank of Italy authorized the suspension of
payments by Bank Network Investments SpA (BNI)
without communicating anything to the depositors.
Very serious and unacceptable – says Peter
Jordan, Secretary General Adiconsum – the
attitude of the Bank of Italy SpA in each BNI,
because highly prejudicial to the interests of customers.
Bank of Italy, in fact, after extending the
receivership of the bank, thus giving the impression of an imminent rescue, then
gave the green light for compulsory winding up, without giving any prior
notice to the depositors, leaving them in no condition to perform any type of
operation, even basic ones for daily survival, such as withdrawals /
payments, utilities payments, rates, taxes.
This is not an isolated incident and we have, in
fact, seen a similar scenario play out right here in America in the recent
past with the collapse of Indymac bank (no
affiliation with SHTFplan Mac), which left
depositors without any way of accessing funds. The same happened across the
pond in the UK with the collapse of Northern Rock.
Anxious customers wait to get their funds all over
IndyMac banks in California after regulators took control in July of 2008:
 
Thousands all over the UK headed straight for
Northern Rock Bank once they learned it was no longer solvent in 2007:
We have enjoyed relative stability in our banking
system since the crash of 2008 as the Federal Reserve has pumped out
trillions of dollars in funds to save banks that are, by all accounts,
totally insolvent already. With the collapse of Europe now upon us and a
similar disaster awaiting the United States in the next couple of years as
our debts (private and public) exceed our abilities to repay them, we can
fully expect “bank holidays” across the entire country.
There are those who may argue that these are the
ramblings of a fear monger, but make no mistake, a nationwide bank holiday
was already considered in the United States – and no, we’re not
talking about Franklin Roosevelt’s closing of the banks in the 1930′s.
When? On the very first day, as the very first
action of the new Obama administration in January of 2009.
Things got so bad after the financial and economic
collapse of 2008 that the entire system as we know it was about to go under.
So much so, that Treasury Secretary Henry Paulson reportedly
warned congressional members that if no bailout was passed in November of
2008 that the government would literally have been forced to declare martial
law.
That was nearly four years ago. And, as we well know
now, not a single thing has been done to resolve the fundamental problems we
faced then.
We are now so far gone that there is a real
possibility that the next phase of this crisis – which is near critical
in Europe now and will soon come to the United States – will be totally
out of control of the government and central banks, which will leave them no
other option but to shut down the banks before we have Great Depression style
bank runs.
While we realize the mainstream media and the
majority of Americans believe it to be an impossibility that they would not
have access to their bank funds, online bill pay systems, or ATM’s,
we’ll play devil’s advocate and suggest such an event may actually
occur.
What if banks were closed? And what if when they
reopened again your dollar was worth much less than when they closed for
business?
This happened in 1934 after FDR devalued
the dollar against gold during a bank holiday, it recently happened in
Venezuela when Chavez
devalued the local currency by 50%, and most notably in North Korea where residents
lost 99% of the value of their wealth over night.
How would you pay your rent or mortgage? (Banks may
be closed to your withdrawals, but be assured they will still want your
monthly payment)
How would you buy food or toilet paper?
How would you pay your utility bills? (or what if your
utility company couldn’t pay their bills?)
How would you pay for medical care or emergency
medicine? (Or what if
there were no medicines left to buy?)
How would you even get to the grocery store with
your devalued dollars after economic martial law was declared and gas prices
were so high you couldn’t afford them or gas itself wasn’t even
available at your local gas station?
Are you planning on the National Guard giving you a
ride?
Then again, this is America, and we have a centrally
planned economy, so there is no way this is going to happen.
Nothing to see here. Carry on
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