“In sum, the insiders want more bank & system control, fewer banks & a lower US$. A bank holiday would suit all their needs.”
that’s how HSL summed up the reasons for a bank holiday
a bank holiday allows for wholesale changes to the existing system while limiting the ability of people to withdraw their assets from the system – when the banks reopen the people are presented with the new system
look at Argentina as the most recent example of bank holidays – while the banks were closed the people were limited to $300/month withdrawals from their bank accounts – the national currency was devalued about 70% during the bank holidays
a recent article put forth the idea that the PTB looked at two possibilities, inflation and deflation, and then implemented those possibilities in the real world – Zimbabwe got the inflation and Argentina got the deflation – the objective of these exercises would be to evaluate which scenario worked out better for the ruling elite – which scenario allowed the PTB to remain in control with their assets intact [and if you believe that there aren’t people on this planet who think and operate at this level, then you are very naive IMO]
George Ure at www. urbansurvival.com posits the following timeframe:
– Aug 22 – after the markets close a larger than ‘usual’ list of banks is announced for closure (‘usual’ seems to be 4 or 5 per week)
– large scale derivatives failure becomes public (remember there are still over a quadrillion dollars worth of mostly worthless derivatives to be unwound – they are still valued at the ‘mark-to-model’ level and FASB is making noises about requiring all assets to use ‘mark-to-market’ valuations)
– FDIC has a ‘disaster week’ – we can’t say that the FDIC will ‘fail’ since we can be assured that it will remain funded with printing press money until the cows come home – however, a widespread perception that the FDIC has failed is another thing – remember that CONfidence is the key ingredient in a fiat banking/currency system
– mid-Sept – bank holidays
what might we expect to see after the banks are re-opened?
– US dollar devalued by 50% or more – devalued against what is the interesting question – gold? new international currency from the IMF?
– 1000 small banks are closed / taken over by the big banks
– Federal Reserve has new and sweeping powers over the banking system
