http://armstrongeconomics.com/2013/03/16/forced-loans-they-can-take-you-money-giving-govt-bonds/
One of the most critical aspects of why it is so important to understand history is because it is both a catalogue of solutions as well as potential threats. At the Sovereign Debt Crisis Conference today we discussed FORCED LOANS. Both the cities of Venice and Florence issued laws FORCING citizens to buy their bonds. This is what happens when they cannot sell new debt. They historically turn and by LAW command you to buy their bonds. They just seize your assets, hand you bonds back, pretend they are seizing nothing, and then default.
In Cyprus, the government has agreed to seize up to 10% of savings in everyone’s accounts there even if you are not a citizen and use the money to bail out the island’s crisis-hit banking system. This is the directive from Europe. This is a direct seizure that is framed as a tax. Venice and Florence made you buy the government bonds. This seizure of 10% of all assets has sparked a tremendous panic and violent protests as crowds desperately tried to withdraw their money at cash machines throughout the country.
This why we have HOMELAND SECURITY buying 1.6 billion hollow-tip bullets that are illegal in war. They are buying illegal ammunition for domestic use.
The interesting aspect of HOMELAND Security buying armored tanks is the absence of press coverage in the primary media outlets. Put this in Google see who has reported it. They bought 2,717 of these ‘Mine Resistant Protected’ vehicles for service on the streets of the United States. These are virtually tanks. You can throw gasoline bombs at them and nothing will happen. They are preparing for outright war against the population.
Anyone who thinks these people will just hyperinflate to meet their promises are living in a dream world. They will defend their power at all costs and have no intention of meeting promises. You do not buy all this stuff for domestic use unless you expect a problem. That problem emerges only from defaulting on the socialistic promises they have been making with no intention of honoring anything.
We have to understand what is taking place. This is vital for our survival. They are watching Europe closely. What they see there they know will appear here when they cannot honor their debts and promises as well.
Comments
Yes, the arrogance is apparent. I take it to mean there is nothing we can do about it at this point, they don't need to hide anything any longer. The end is near....
Keith, to steal a person's money from an institution that promises to protect it, then give a worthless piece of paper in exchange, then renege in the future (and they will, the theft won't solve the problem) is just sophisticated thievery.
One comment I saw is this may be a play at driving up the price of gold. My guess would be the gov't would then declare gold and silver illegal and confiscate it.
Yes it will be unprecedented. And to funds fro OPPT what will happen to this. Should we buy gold when it is relatively cheap?
No choice, but the shock waves have already circled the globe. If they don't retreat the collapse is here.