Global Research – PROFESSOR MICHEL CHOSSUDOVSKY – Apr 2, 2013
The application of Bail-in procedures involving deposit confiscation (even when applied locally or selectively) would create financial havoc. It would interrupt the payments process. Wages would no longer be paid. Purchasing power would collapse. Money for investment in plant and equipment would no longer be forthcoming. Small and medium sized businesses would be precipitated into bankruptcy.
The application of a Bail-In in the EU or North America would initiate a new phase of the global financial crisis, a deepening of the economic depression, a greater centralization of banking and finance, increased concentration of corporate power in the real economy to the detriment of regional and local level enterprises.
In turn, an entire global banking network characterized by electronic transactions (which govern deposits, withdrawals, etc), –not to mention money transactions on the stock and commodity markets– could potentially be the object of significant disruptions of a systemic nature.
The social consequences would be devastating. The real economy would plummet as a result of the collapse in the payments system. Go to story
I offer you this simple essay/interview with Doug Casey on Lew Rockwell’s site:
Lew Rockwell – Apr 4, 2013
All banks, all around the world, are bankrupt, and have been for years. That’s because all the world’s banks run on a fractional reserve basis. …Go to story
This one as well:
Survival Blog – Apr, 2013
I recommend that folks keep just the minimum that they need in the bank for their monthly expenses. Cash and precious metals kept at home should be in a fire-resistant box that is hidden in a well-camouflaged wall or floor cache, or better yet in a concealed vault room. …Go to story
Now this one:
Lew Rockwell – ANDREW P. NAPOLITANO – Apr 4, 2013
What happens when the government goes bankrupt? This question is one that sounds like a hypothetical exercise in a law school classroom from just a few years ago, where it might have been met with some derision. But today, it is a realistic and terrifying inquiry that many who have financial relationships with governments in America will need to make, and it will be answered with the gnashing of teeth. … Go to story
Now for a more thorough understanding – if you have the inclination – here is a doozy by Rothbard: The Mystery of Banking by MURRAY N. ROTHBARD (pdf).
And finally – in laymen’s terms – this one by Ron Paul and Lehrman: Case for Gold (pdf).
Here is Srila Prabhupada, from the 1st Canto [of Ṡrīmad Bhāgavatam], 1.17.39:
punaś ca yācamānāya
jāta-rūpam adāt prabhuḥ
tato ‘nṛtaḿ madaḿ kāmaḿ
rajo vairaḿ ca pañcamam
punaḥ — again; ca — also; yācamānāya — to the beggar; jāta-rūpam — gold; adāt — gave away; prabhuḥ — the King; tataḥ — whereby; anṛtam — falsehood; madam — intoxication; kāmam — lust; rajaḥ — on account of a passionate mood; vairam — enmity; ca — also; pañcamam — the fifth one.
The personality of Kali asked for something more, and because of his begging, the King gave him permission to live where there is gold because wherever there is gold there is also falsity, intoxication, lust, envy and enmity.
Although Mahārāja Parīkṣit gave Kali permission to live in four places, it was very difficult for him to find the places because during the reign of Mahārāja Parīkṣit there were no such places. Therefore Kali asked the King to give him something practical which could be utilized for his nefarious purposes. Mahārāja Parīkṣit thus gave him permission to live in a place where there is gold, because wherever there is gold there are all the above-mentioned four things, and over and above them there is enmity also. So the personality of Kali became gold-standardized. According to Śrīmad-Bhāgavatam, gold encourages falsity, intoxication, prostitution, envy and enmity. Even a gold-standard exchange and currency is bad. Gold-standard currency is based on falsehood because the currency is not on a par with the reserved gold. The basic principle is falsity because currency notes are issued in value beyond that of the actual reserved gold. This artificial inflation of currency by the authorities encourages prostitution of the state economy. The price of commodities becomes artificially inflated because of bad money, or artificial currency notes. Bad money drives away good money. Instead of paper currency, actual gold coins should be used for exchange, and this will stop prostitution of gold. Gold ornaments for women may be allowed by control, not by quality, but by quantity. This will discourage lust, envy and enmity. When there is actual gold currency in the form of coins, the influence of gold in producing falsity, prostitution, etc., will automatically cease. There will be no need of an anticorruption ministry for another term of prostitution and falsity of purpose. (excerpt from Ṡrīmad Bhāgavatam 1.17.39, text (translation and purport by His Divine Grace A.C. Bhaktivedanta Swami Prabhupada)
The Coinage Act of 1792 affirmed that that any “debasement” of coinage – which is simply the devaluation of the individual “UNIT OF MEASURE” for the “dollar” – would win the individual(s) found guilty of this crime – the severest penalty – death by hanging.
THIS was back when men had a far clearer understanding of honest economic interaction between all participating members of the market economy.
Read it and marvel at its simplicity, clarity and finality!
Pay close attention to Section 19!
Here is its history: Coinage Act of 1792.
Now read this essay by Dr Edwin Vieira Jr. entitled “What is a Dollar”.
UNDERSTANDING THESE SORTS OF THINGS – AND BEING ABLE TO SPEAK WITH THE FULL AUTHORITY OF Lord Kṛṣṇa and His pure devotee Ṡrīla Prabhupāda on the subject – renders this KRSNA CONSCIOUSNESS movement of Lord Chaitanya Mahaprabhu COMPLETELY and FULLY – RELEVANT to the most INFINITE DEGREE.
What should and should not be done – in any given situation – IF one wishes to make it possible for any and all to capitalize on this human birth to their maximum potential – requires that they understand ABSOLUTE MORALITY.
Absolutely MORALITY in all matters of human action – demands the complete absence of fraud and or theft – to be ignored by society’s members – what to speak of endorsed, systematized or worse “enforced” upon a single individual; what to speak of the entire world community.