Resistance Levels - updated

My forefathers (and mothers) had looked very long and very hard for a suitable bug-out location in which to settle. Seriously long, like centuries. As a group, they traversed many thousands of miles, sampling various regions and peoples, climates and topographies. Along the way, as adept preppers, they took what was useful, learned new skills, picked up languages and technologies, and premium-quality genetic stock – flora, fauna and human. Eventually, legends say while pursuing a magnificent stag, they happened upon the ideal place. Protected by a cradle of nigh-impassable mountains on the east, filled with the fertile soils of surrounding areas deposited by the watershed of one of the largest rivers on the continent, (relatively) sparsely populated and remote (enough) from major military powers – yet close enough to them for commerce or quick plunder, should opportunity arise.

As it turned out, the choice of location created an historic opportunity, but as centuries rolled on generated a large risk as well. Sitting on the faultlines between the largest empires of every age to follow is not very good for your home insurance rates in the long run. I’ll spare you the long (though interesting) details, suffice it to say it’s been occupied mostly continuously by foreign powers since before Cristoforo sailed off toward the sunset flying the Spanish flag. Insurrections, secessions, revolutions, peasant revolts, guerilla engagements and a few full-blown wars of independence occurred with regularity, too many to list. We’ve come to learn a few things about TPTB, and resistance thereto over the years – as the preceding sentences indicate, mainly through one of the better teachers: failure. Punctuated by increased repression and sometimes massacre.

1849 was another bad year. Despite a hopeful, idealistic and well-timed (arriving at just the right moment, riding the wave of European uprisings, protests and general continental revolutionary atmosphere) social protest movement that broke to the surface a year prior, things looked grim indeed. What was first a peaceful set of demonstrations demanding human, civil and political rights had escalated into prison breaks (of political dissidents), demands of constitutional reform by legislature, then secession and popular uprising and war for independence. Eventually even including a hyperinflating wartime fiat-currency (not the only one, alas...), the saga seemed destined to end with one of these moments:

The fireball you see off to the side is the exploding Millenium Falcon...

Not one, but TWO imperial armies occupied the country. The elected president managed to flee to exile (eventually to take to the lecture circuit in the US to try to raise political support and funding for continuing the struggle – there’s a bust in the Capitol’s pantheon, if I remember correctly). In the face of overwhelming force, ostensibly to spare the lives of his soldiers, the commander surrendered and laid down arms. Six weeks later, the elected prime minister and select generals were summarily executed by a firing squad. The other top captured officers of the volunteer army were strangled at the stake.

EVERYONE with the wrong first or last name was considered an insurgent, and full military dictatorship and martial law was put in place. All constitutional amendments (representative government, speech/press/expression, assembly, etc.) except the right of citizenship and the liberation of serfs were rolled back. Taxes, dontcha know… Thousands jailed, hundreds executed by both rope and rifle/bayonet.

What came next was a set of responses by the populace whose success is judged differently depending on the perspective of the viewer. Ostensibly led by an elder statesman (former Justice Minister under the revolutionary government), the middle class began to withdraw – to the extent possible – from participating in the social structure of the occupying empire. Magistrates resigned and declined postings. Judicial seats, local governance offices, tax collector posts went empty. People stopped paying taxes, regulations went ignored and unenforced by local authorities. Non-local goods gathered dust on shelves. State monopolies and tariffs were disregarded by local artisans, factories and merchants, veterans of the former army were given refuge and sustenance. Support of cultural, literary and academic life was increased to the point of trying to exclude any share of the occupying culture, language and tradition. Contracts with non-local owned firms were curtailed. GDP and imperial tax revenues declined.

This decades-long, slow-burn resistance is considered by many (most) scholars and commentators to have ultimately led to the occupying empire being forced in to a compromise/stalemate – the adoption of a quasi-autonomous status for the conquered and broken country, participation on ‘nearly-equal’ footing in the affairs of the resulting ‘empire’. The ruler was backed into a corner due to military defeat abroad, and the wily, rotund and mustached old man who epitomized the resistance (despite never being explicitly named a leader in any formal, organized or announced way), was able to negotiate terms that he finally could live with. Gandhi would eventually cite the movement as an example on effective non-cooperation and resistance, and it seems to have inspired similar policies in Sinn Fein at its founding in the early 1900’s.

There are some nuances that bear examination with the version taught in school textbooks, however. While such passive resistance certainly eroded the credibility, efficiency and revenue base of the occupying power, regimes can stay in place for a LONG time after having lost credibility (if they ever had one). If something takes 18 years to bear fruit, perhaps other factors contributed to the outcome as well – the military adventurism (and defeats) of the empire, as well as the larger regional and global geopolitical arena arguably had at least as much of a role. The other obvious factor is that while a noble effort, withdrawal from public life/service was the exclusive domain of those with sufficient wealth to forego a salary – policemen, bureaucrats and low-level officials could scarcely afford to simply walk off the job. Think sprinkling sand and a few handfuls of gravel into the workings of the machinery – not a wrench or a spanner. There were also a number of attempted armed uprisings, the largest being a multi-national conspiracy to retake the country starting in the most independence-minded east – all of which were put down either through military force, or (more ominously) through the extremely effective work of the Imperial Secret Police. Despite the ultimate failure of each of these instances (and the retributions that followed), these events kept the empire on edge, and ironically with their failure kept alive the population’s determination to continue fighting assimilation and subjugation.

___________________________________________________________________________________
 

The parallels to the current world might seem a bit tenuous – though of course this too depends on the viewer. Military adventurism and insolvency seem not to have gone out of fashion over the centuries... From a Western perspective, however, there is no uniformed army barking commands at everyday people in a harsh, foreign, consonant-rich, reviled language. People are not being rounded up to be shot or marched to forced labor camps. There isn’t a set of laws aimed at dismantling the English language as the official tongue of the land, no movement to try to destroy and make forgotten the cultural, historical, literary and even musical traditions of the country. The FedGov apparatus is duly elected by and accountable to the population it serves – there is no cronyism, favoritism, nepotism, corruption. Governance is conducted in a constitutional, orderly manner – there can be no critique of absolutism leveled at the leadership, let alone alleging that there is selective enforcement of laws. Right…?

The problem? There is no singular, clearly identifiable, compact adversary to focus on and direct energy toward. The Matrix surrounds us from the day we are born, increasingly few remember it ever being any other way (depending on where one puts the founding date). The other main difference is the lack of a unifying, singular goal. The causes of this are many – lack of awareness of reality could be considered one, a dependence on and existential incentives to support the current system being another. But critically, one must ask: what is the desired GOAL, should a substantial portion of the population ever agree on the need to act? What should be the aim striven for, and how best to get there once/if the constraints imposed by the current regime should be lifted? The restoration of a constitutional republic? A dismantling of the massive, complex and all-reaching infrastructure of the state? The demolition of the power interests and exploitative commercial/financial/industrial complexes – the ever-present financial/military/industrial complex Eisenhower warned us about? Decommissioning of the global fiat currency regime? In order for any movement to succeed, the above questions must be addressed. What I doubt is that any 'collapse' (however defined) of the current system, including currency, would automatically bring any kind of benefits or freedoms for the populace in and of itself. If anything, the opposite should be considered.

For the moment, there is no 'movement', and it is unclear whether one ever will or could be. Even if OWS, their Fawkesian online friends, WikiL and my one-time tail-gunner Snowden are completely legit, we are WAY below threshold. But even if there ever were, as a first step, the stranglehold of the current power structure must be at a minimum loosened. Some modern-day passive resistance options (many/most cited on this forum) that may be considered analogous to the efforts of those far-away patriots from long ago. Please feel free to add more, or shoot down factually incorrect ones:

  • Minimizing payment of taxes, levies, tariffs and other governmental fees
    • While most if not all people already instinctively TRY to do this, there are multiple levels available. Family trusts, offshore LLCs, non-profit and/or charitable organizations, political action committees (provided no ill-advised keywords are in their names or founding documents).
    • Using cash, local currencies and barter
  • Withdrawing consent from marketing
    • Minimizing payment card usage plays a large role in this
    • Store loyalty cards – you know you have one, if not five. If you cannot forego the savings offered by their use, ask for a new one at the register, have the cashier activate it, then never fill out the personal data form (or at least do it ‘incorrectly’)
    • Whole host of ad-blocking software is available for all browser-enabled devices – use it
    • Do you still watch TV? Need I say more?
  • Reduce reliance on credit, FRNs and the banking system
    • See point above about using cash, local currencies and barter
    • Self-production of household necessities and foodstuffs
    • Repair and reuse durable goods/equipment rather than replacing
  • Prepping in general (for anybody to whom more needs be said about this, check out the forums here)
    • Related to the above, but specifically securing control of monetary alternatives and other minerals. While all ACTUAL assets are fair game to varying extends (H and elemental Li are a pain in the neck to store, as are those toward the end of the table), the specific ones generally recommended are Au, Ag, Pt, Pd – complemented by both less and more malleable counterparts Cu and Pb.
  • Get Out of The System (listen to / read Jim Sinclair's thoughts on the subject)
    • Reducing collateral held by the banking/financial oligarchy is not only prudent, but a non-trivial, leveraged move against them as well. Brokerage accounts, pension funds of all kinds provide leveragable and rehypotheticatable ammunition for the institutions holding them.
    • Ditto for cash deposits in accounts – for the same reasons. Read up about the details of WHO OWNS the funds deposited in a bank account. They are the assets of the bank, which owes an unsecured liability to the account holder. What are the odds an average customer would be able to seek legal redress regarding disposition of funds should he and the bank come to a disagreement?
    • The Deposit Insurance Fund (DIF) balance continued to increase. The DIF balance — the net worth of the fund — rose to $37.9 billion as of June 30 from $35.7 billion as of March 31.” - FDIC  This implies total insured deposits at $6T and change. I’m not sure I like them odds, as these deposits are distributed mainly between our wonderful friends who are TBTJ.
  • Encrypt whatever you can. Invest in whatever modicum of internet security and anonymity you feel appropriate – not just to avoid detection and protect privacy, but also to raise the marginal cost of the surveillance system’s operation as a whole. Encrypt trivial, everyday data whenever and however possible (before non-approved encryption is outlawed).
  • Offer to teach a self-defense class (with or without augmenting implements, though ideally at least the latter) to your local church community, PTA or bowling club.
  • Ditto for canning/ciderpressing/harvest/beermaking/cooking/gardening/etc. class at a venue convenient for you and appropriate for the purpose.
  • Professional self-help organizations aimed at bartering services. 1 hour of lawyer fees for a medical visit, replacing a lock or a day of babysitting.
  • Exposing the truth and ridiculing the ruling elite. Leaking anything and everything possible, until the deluge is impossible to effectively corral. Whether evidence of massive corruption and theft or simply random, embarrassing details of the criminals in question.
  • What would happen if a congressional district organized and decided to NOT send a representative to Congress come next election? Could such a thing legally be done? If so, would anyone notice? Same question on state government level.

In case it is not obvious from the above, I do not consider ACTIVE resistance to be a viable option at this particular point in time, especially in the US. There appears to be no viable legal path through electoral, legislative, judicial or ‘public pressure’ means to reform, cleanse and fix the system – let alone address the global imperial entanglements and co-dependent structures. As for the other option --there is simply not nearly enough desperation, anguish, pain and suffering to compel sufficient numbers of the population to support one. Yet. We’re not even at the point of mass demonstrations in the US and NW EU, and similar efforts have not yielded appreciable change in Southern Europe. When and if such time should come, one's perspective will and should change. It certainly seems to be getting closer to changing in a few other parts of the world – but the ones that have taken place thus far have not resulted in the desired and deserved result of true self-determination. The distance between A (realization of grievances, major protestations thereof) and B (actions that might seek to directly and fundamentally alter the status quo by EITHER ruler or oppressed) is a very tricky one, and can take anywhere from a few weeks/months to years to decades to forever (so far).

But the way I look at it, the notes above apply either way. It most certainly is prudent to prepare accordingly.

"Paranoia is in bloom,
The PR, transmissions will resume
They'll try to, push drugs that keep us all dumbed down
And hope that, we will never see the truth around
(So come on)" -- Muse, 2009

UPDATE:

There are some current ideas afoot that address exactly the areas above. If you have not already, please take a moment to look at the petition demanding the resignation of every metal investor's friend Bart Chilton. The other, more tangible effort is the Turdite Silver Thursday on All Hallow's Eve -- buy a few ounces with friends.

WRT to the Chilton affair, I am more curious as to whether an FOIA request can be filed, for how much, and how long would it take. The thousands of hours of Commission investigative time must have yielded petabytes of information -- the Commission is a public agency serving the well-being of the public -- let's see the investigation logs, reports, emails, evidence. Am I the only one surprised that no one is publicly demanding this?

100 Comments

the_circle's picture

1

Numero one.

achmachat's picture

this should be interesting

...and I really like your taste in music!

ltcolkilgore's picture

3

Happy Friday...

ivars's picture

Simple facts I have come to

Simple facts I have come to realize ..yesterday, and an article of very clear information:

1)At least since 10 000 BC the growth is driven by human natures wish to increase income/wealth inequality; for poor ones it means leaving the others behind. 

2)This drive takes care of expanding by all extensive, intensive and breakthrough means the carrying capacity of the territory and the Earth faster than SUPER exponential growth in economic development and population

3) Hence, from time to time there are checks on both economic income/wealth and population but they are more and more effectively dealt with - as history of human economic and population growth clearly shows, the limits are not IN . Not yet either. 

4) The increasing inequality drives the need for increased oppression ( by all means which requires fixed costs vs. sharing of the revenues) to DEFEND reached inequality levels

5) In current world, with some exceptions, the repression level required (and executed by state etc) is reflected in PUBLIC DEBT worldwide in relation to World GDP (or locally for given country) . Currently it is at about 75% while Gini coefficient of the world is around 0,68-0,69. It has increased from about 50% of GDP over the last 14 years.

E.g. Greece's high debt reflects the way inequality was guarded by allowing the lower 95% of population to escape tax payment via lax enforcement. Not the greatest of schemes as this cost becomes VARIABLE. 

6) Inequality inside countries, regions, cities and between states, blocks, regions - all of them are defended and require public costs. 

7) countries with low public debt usually use : slave labor ( North Korea, Soviet Union) , Genocide, export ( increased export levels requires OTHER countries to run into public debt to DEFEND the inequality at exporting countries ) which uses export revenues to pay fixed amount benefits to its population so it stays competitive and can export- subtle oppression in the name of defending inequality, in fact, increase in inequality.

Always in business- one time or fixed cost ( benefits) is always cheaper then sharing % of revenue. 

8) The ultimate form of defense of inequality- civil or international war- requires of course the ultimate public debt levels, as history and today shows. Which just confirms the observation- any public debt (or export revenue utilization) is aimed at defending increase in inequality as much as possible in the country, between countries. 

9) as a proof, see the following article, and bear in mind that In the time when inequality increased (and continues to increase now) in the USA, the PUBLIC debt increased as well. So increase in inequality required higher costs to DEFEND inequality by state municipal etc. repression. Starting war on terror is a way of repression as well- increases inequality.

10) Financial intermediation (i.e. banks, loans on interest, financial asset management and markets) grows when inequality creates enough resources for the top to engage in lending them to the bottom AND investing in financial assets like real estate which drives the price of housing UP to the levels unaffordable for bottom 95%, so they get in debt. Careful propaganda administers consumerism which sees that consumption levels does not drop with real income stagnation, but grows by moving into debt. 

This scheme of recent economic history was a revelation to me, but now when I have come to it, history starts to get much simpler and possible to classify as well as see what is driving what. e.g. Science is driven by need to increase the carrying capacityin order to reach higher growth in order to reach higher inequality. QED.

Read the article. I think it is seminal in what it says, first few pages, even before You see any formula. 

http://www.stanford.edu/~kumhof/ilc_dec_2010.pdf

Now I will easier way to see how public debt may relate to PM prices. Why it relates. The high public debt drives PM prices because it signals that the oppression levels are high and system of defending current inequality growth structure is becoming instable ( think Greece) . That is the reason why high public debt ( in current system) OR high government expenses vs GDP ( in e.g. systems with high taxation or even government issued debt free money )  creates uncertainty about the general and economic and financial stability of a country and its currency. 

In Japan, the young keep power over zillions of pensioners. The solution- high public debt to keep their pensions flowing. Is it stable- definitely not since the debt is growing. Next step is war level expenses. 

etc.

achmachat's picture

ivars fact 11

hat-tipping your own post immediately after posting is kind of not cool.

ivars's picture

@achamat

Not reallywink

Hammer's picture

Weekend doc narrated by

Weekend doc narrated by Keifer Sutherland and hat tips the start of punk in CBGBs in New York........

silver66's picture

Damn good article Turd

Thanks for what you do man

silver66

P.S Turd, you will appreciate this....being forced against my will to go golfing today. It is a glorious fall day where I live. Forecast for 22 degrees (Celcius for you Americans, which is about 72), no clouds, the cuban cigars are in the golf bag.

treefrog's picture

vasectomy

A man goes into the hospital for a vasectomy. Before the procedure a
very attractive nurse comes in and takes his vitals, then tells him to
take all of his clothes off.

When he is fully undressed she instructs him to lie down on the
table. The man obeys. The nurse then takes all of her clothes off and
climbs on top and has her way with him.

Upon the completion of the act the man catches his breath and asks
what that was all about. The nurse informs the patient that studies
have shown that before a vasectomy if the man has an ejaculation, he
will be more relaxed and that the cord is easier for the surgeon to
locate and sever, thereby making the surgery safer, more efficient and
quicker.

The nurse then wheels the patient to the operating room.

While they are going down the hall the patient looks through a window
to the right and sees six men in a room masturbating.

Curious, the man asks," What are they doing in there"?

The nurse responds, " They're preparing for vasectomies too, but you
have Blue Cross, and they have Obama Care."

SilverSurfers's picture

Resistance 1340 22

http://www.jsmineset.com/

Funny pic, but Forgot the DHS cop.

2000 tons x 32,000 = 64m oz gold, 750m oz silver mined each year.

Demand has to blow that away, for metal to "over run" the printing presses.

They have the printing press with QE and ZIRP enabling market rigging with relative impunity, the bullying pulpits to pander the people to believe things the governments wants to sustain it own totalitarian control over the people, distant public memory of silver in circulation, trashed Constitution, a corrupt judiciary, totalitarian socialistic fascist controls, a pandered population believing socialism and income retribution and sharing and more government is the way forward, world wide fascist combination of governments and banks, police state taxes on bullion, inter alia. It seems that over run could take a long time. Defense to the assault on freedom is as useless as the CFTC, all just waiting for the next assault on freedom, right? Sure glad our camp has yakity yak cows, sreeching unfair, but unwilling to go over to the offensive, with the plan, to free mankind worldwide. Some like it hot Submitted by Mad5Hatter on September 25, 2013 - 11:26am.

In order to stop the manipulation, suit must be brought in gun-totting state district court, showing that 400 tons in 5 second can only be for price manipulation, and show who is the most likely culprit, to established prima facie cast in tort for interference and fraud, naked shorts, selling something you dont have, frying them in reply, with injunction relief in terms of staggered FIFOs client and in house sales to avoid CTFC jurisdiction. They may try to keep FED client activity from seeing the light of day, but pitting the bullion banks against the FED in open court, is the way to go. But then I told you all that months ago. right?

Gold just hit 1340 and Silver just hit 22. LOL!!!

Mad5Hatter's picture Going my way Submitted by Mad5Hatter on September 25, 2013 - 9:47am.

Gold popped 1335, silver up move 40c, testing 22 yet again, but so goes gold, as does silver just delayed a tad. Time for the seasonal rampage, and a big up move. Key is end of year gold over 1670, minimum, for yet another year end higher close, and just smoke 1450 and 1550, enroute. Going my way?

Feeling Guilty Submitted by Mad5Hatter on September 26, 2013 - 4:40am.

Snake: You know, we really did pull the rug out from those gold bugs, with the CTFC throwing in the towell.

Mouse: Yeap, good ole CTFC, always a team player. God Bless America!!!

Snake: We sure did like that no taper con, it worked for a long time. We were able to smash and get out, and front running is always good for a few bucks.

Mouse: My pleasure, but the gold bugs are all hot and mad now, throwing temper tantrums, poor things.

Snake: We could let the price raise up here just a tap, to cool their jets.

Mouse: Sure, let it go to 1340 and 22.

Snake: You bet.

===

next post: Yes, a very fine group of contributors at turdville. thanks to all of them.

and they just smacked silver down, 21.80, and it if was not so ridiculous, it would be funny, but its not.

¤'s picture

Thanks JY

Another well written and thought provoking post from yourself that leaves me without further comment. Some articles simply need to be absorbed and allowed to sink in completely.

I'm becoming more impressed with all the guest contributors articles with each passing week. My respect for all their contributions and the wisdom they offer up continues to increase with each passing week. yes

Turd Ferguson's picture

Hit em straight

MODERATOR

But be sure to notice that JY wrote this, not me.

You can easily tell that it's not my work because it's coherent, logical and grammatically correct.

boatman's picture

RE: hit em straight.......wasn't sure to hat tip that

but did it anyway.

oneagleswings's picture

Man is out celebrating his

Man is out celebrating his 30th wedding anniversary with his wife.  Telling her she looks as beautiful as the day he married her a fairy princess pops up between them hovering over the table.  She says to the man you have one wish.  He looks at his wife and the fairy princess and says he wants his woman to be thirty years younger and poof,  he is instantly ninety years old.  Just a reminder,  the fairy princess is a female guys.  Be careful what you wish for. 

murphy's picture

Treefrog- as a follow up

George Bush has a heart attack and dies. He goes to hell, where the devil is waiting for him. “I don’t know what to do here,” says  the devil. “You are on my list but I have no room for you. You definitely have to stay here, so I’ll tell you what I’m going to  do. I’ve got three folks here who weren’t quite as bad as you. 
 
 I’ll let one of them go, but you have to take their place. I’ll  even let YOU decide who leaves.” George agrees to these terms.
 
The devil opened the first room: in it was Ted Kennedy in a large pool of water. He kept diving in and surfacing empty-handed, over and over and over. Such was his fate in hell. “No!” George said.  “I don’t think so. I’m not a good swimmer and I don’t think I could do that all day long.
 
”The devil led him to the next room: in it was Tony Blair with a sledgehammer and a room full of rocks. All he did was swing that hammer, time after time after time. “No, I’ve got this problem with my shoulder. I would be in constant agony if all I could do was break rocks all day!” commented George.
 
The devil opened a third door. In it, George saw Bill Clinton, lying on the floor with his arms staked over his head, and his legs staked in spread eagle pose. Bent over him was Monica Lewinsky, doing what she does best. George Bush looked at this in disbelief for a while, and finally said, “Yeah, I can handle  this!” 

The devil smiled and said… “OK, Monica, you’re free to go

ReachWest's picture

Great Article

Thanks JY - truly enjoy your thoughts and the way you put them to paper. (err.. digital paper)

The only point I would add to your list, is: "Live each day to the best. Enjoy family and friends. Whatever comes on the other side of all this is sure to be much harder."

Mr. Fix's picture

A scam of almost unmatchable balls

"A Scam Of Unmatchable Balls And Cruelty" - Matt Taibbi On Wall Street's "Triple-Fucking Of Ordinary People"

"This is the third act in an improbable triple-fucking of ordinary people that Wall Street is seeking to pull off as a shocker epilogue to the crisis era. Five years ago this fall, an epidemic of fraud and thievery in the financial-services industry triggered the collapse of our economy. The resultant loss of tax revenue plunged states everywhere into spiraling fiscal crises, and local governments suffered huge losses in their retirement portfolios – remember, these public pension funds were some of the most frequently targeted suckers upon whom Wall Street dumped its fraud-riddled mortgage-backed securities in the pre-crash years.... It's a scam of almost unmatchable balls and cruelty, accomplished with the aid of some singularly spineless politicians. And it hasn't happened overnight. This has been in the works for decades, and the fighting has been dirty all the way."

Mr. Fix's picture

Yeah I got the yada yada, yada yada yada.

GOLD ANALYSTS BULLISH DUE TO MONEY CREATION ON SCALE NEVER SEEN IN HISTORY

The Federal Reserve decision to refrain from a QE taper is very bullish for gold.
‘Tapering’ may be put off indefinitely due to the very fragile state of the massively indebted U.S. economy. This means that interest rates must be kept low for as long as possible, leading to money printing and electronic money creation on a scale never before seen in history.
This will inevitably lead to higher gold prices – the question is when rather than if. [Read more...]

The price of gold and silver will not rise significantly until after the system implodes.wink

Urban Roman's picture

.. trying to figure out just

.. trying to figure out just what empire that was about ..

But I suppose it applies to many cases, historically. 

dannyhaha's picture

what empire that was about ..

I'm guessing it was Italy, but would like to know for sure.

Very interesting post. Thanks.

The Doc's picture

FYI Turdites: Panama has just

FYI Turdites: Panama has just announced a 5 day bank holiday!

This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October. The National Bank of Panama claims that the reason for the 5 day bank holiday is to upgrade systems.
The Clave (Debit Card) system has been taken offline. No wire transfers between banks and internationally until the 1st of October.
This system wide shutdown has country wide implications. The National Bank of Panama did not warn the people before making the announcement and shutting down the banks. The people do not have access to ATM’s either. We received word of this from family members first. This weekend is payday for people across Panama.
Is the next Cyprus-style bankster bail-in about to be implemented in Panama?

http://www.silverdoctors.com/breaking-panama-announces-5-day-bank-holiday-bail-in-imminent/

AlienEyes's picture

Sinn Fein

Great article, at least until I got to Sinn Fein. That's when I started laughing so hard I couldn't finish reading the article.

It reminded me of an old joke that went something like this.....

What has one hundred legs and an IQ of sixty ?

River Dance

smiley

I'll try again later.

Orange's picture

Bix

Last year I exposed that Citibank had taken over the role of HSBC as the Silver Rigging Trading Partner for JP Morgan with their sudden increase from $44M to $9B in silver derivatives as reported in the OCC Quarterly Reports for Q1 2012. That position has stayed just about the same until the 1st quarter 2013 when it jumped to almost $12B.
 
The latest report for the 2nd quarter 2013 that was just released shows a shocking reversal of Citibank's silver derivative position shedding $8B to come in at only $4B. This huge reversal is as of June 30th 2013 as the OCC publishes these reports 3 months after the close of the prior quarter.
 
All the data is here:
 
 
Notice that the overall bank silver derivative position has also shrunk from $41B to $28B over that same time frame clearly showing that the Commercial Banks are RUNNING FOR THE HILLS when it comes to silver derivatives (noted as "PREC METALS" on page 36).
 
I expect the 3rd quarter will come in lower again when it is published in December.
 
Here was my alert about this situation last year for Private Road Members:
 
Silver Short Hot Potato Being Passed Again! 
 
What does it all mean? Who knows but judging from all the announcements this year that banks are shedding metal storage facilities and getting out of trading commodities one can assume that they got the word at the beginning of the year that their game would soon be OVER!
 
NOTE: Keep an eye out for a non-regulated hedge fund like BlackRock to try to take over the silver rigging controls. Otherwise the sky is the limit for the price of silver.
 
May the Road you choose be the Right Road.
 
Bix Weir
Bollocks's picture

It'll be vast quantities of gold and silver next ;)

NASA rover Curiosity finds water in Mars soil - report

NASA's Mars rover Curiosity (AFP Photo / NASA)

The rover Curiosity has discovered water in fine-grained soil on the surface of Mars, NASA confirmed Thursday in a series of papers published in the journal Science.

Each cubic foot of Martian soil contains about two pints of liquid water, though the molecules are bound to other minerals in the soil.

http://rt.com/news/curiosity-nasa-mars-water-416/

Mr. Fix's picture

CONFISCATION OF GOLD & SILVER?

ALASDAIR MACLEOD: DOLLAR CRISIS THIS WINTER, CONFISCATION OF GOLD & SILVER?

dollarFor most of his 40 years in the finance industry, Alasdair MacLeod has been de-mystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man.
Alasdair believes one of the major consequences of unsound monetary policies will come in the form of a currency crisis as soon as this winter.
Alasdair discusses his views on how this crisis may unfold and how you can protect your wealth from its destructive impact. [Read more...]

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JY896's picture

@AlienEyes

Sinn Fein was provided as a cultural reference that Anglophile readers may be familiar with, has not much to do with rest of the post. Curious about the source of hilarity though - but then my knowledge of Irish history is rather sparse. Don't see much humor in their situation at that time, or since for that matter.

Lamenting Laverne's picture

Panama

Nice post JY! I am trying to guess your empires and find myself yet again underperforming on details on what I guess to be central European history. 

The Panama bank closure story is interesting. Is another so called tax haven being led to the slaughter. I know of a third so called tax haven that is under attack from squid powers, so maybe a pattern of a take-down sequence in motion is revealing itself.

I do not believe a system update would be announced without lead time. No way. When you do serious system updates, you expect some problems, and one way to mitigate those problems, is to make sure that people have had time to make themselves as little vulnerable to problems as possible before the system is taken down.

Something else is brewing, is my bet. Which comes at exactly the time, many of us speculated about in the spring. We'll see.  

Bugzy's picture

Sinn fien

I thought it was probably a good addition.

Originally the Fenians:

The Fenian Movement

The Fenians were members of the so-called Fenian movement in Ireland and elsewhere, though primarily America and England . The Fenians wanted one simple desire for Ireland - independence from British rule. The Great Famine had a massive impact on Ireland. Some in Ireland believed that the government in London - to solve the 'Irish Problem' - had deliberately done as little as possible to aid the people of Ireland – a form of genocide – and these people concluded that the only hope Ireland had for its future was a complete separation from Great Britain. If London was unwilling to grant this, then the Fenians would fight for it.

Anger against the British government spilled over in 1848. In this year a group of revolutionaries known as Young Ireland launched an ill-prepared uprising against the government. It was a failure.

Two of the members of Young Ireland were James Stephens and John O'Mahony. In the eyes of the authorities both had committed a very serious crime. To escape punishment both fled to Paris. Though near to Britain, both men were relatively safe in Paris.

In 1853, O'Mahony went to America. Here he tried to gain support for another uprising from those who had left Ireland during the Great Famine.

Stephens returned to Ireland in 1856. In Dublin in March 1858, he formed a secret society that became known as the Irish Republican Brotherhood. Its aim was Independence for Ireland. I

n America O'Mahony became the leader of a new organisation called the Fenian Brotherhood. It took its name from the Fianna who were a band of Irish warriors of the 2nd and 3rd centuries. The name ‘Fenians’ became an umbrella term to cover all the groups associated with wanting independence for Ireland. By the very nature of what they wanted, those elements within the Fenian movement who were prepared to use violence to advance their cause, had to remain secret.....

BagOfGold's picture

Caption contest!...

What are Benny...Bart...& Jamie saying?...

lETbFNJ.jpg

Bag Of Gold

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