Volcker Rule Effective Tuesday...Bye, Bye Banksters!
If you were wondering why the
Big Banks were fighting so hard against The Volcker Rule over the past 5 years
you are about to find out. As of Tuesday, April 1, 2014, the rule goes into
effect.
OCC: Volcker Rule:
Final Regulations
Highlights The final regulations
- prohibit banks from engaging in short-term proprietary trading of certain securities, derivatives commodity futures, and options on these instruments for their own accounts.
- impose limits on banks' investments in, and other relationships with, hedge funds and private equity funds.
- provide exemptions for certain activities, including market making-related activities, underwriting, risk-mitigating hedging, trading in government obligations, insurance company activities, and organizing and offering hedge funds and private equity funds.
- clarify that certain activities are not prohibited, including acting as agent, broker, or custodian.
- scale compliance requirements based on the size of the bank and the scope of the activities. Larger banks are required to establish detailed compliance programs and their chief executive officers must attest to the OCC that the bank's programs are reasonably designed to achieve compliance with the final regulations. Smaller banks engaged in modest activities are subject to a simplified compliance program.
END
*Note: The banks don't have
to be fully compliant until July 2015 so expect a wild shakeout between now and
then as they try to rid themselves of TRILLIONS of DOLLARS worth of
non-compliant derivatives. It won't take that long as big banks have a tendency
to EAT THEIR OWN when it comes to their own survival!
So what do all these
restriction do?
Well, history has shown that
you can't have an unbacked fiat monetary system without controlling the prices
of some key commodities and monetary instruments. Gold, silver, oil and the USD
are the main ones. That's where market rigging with computers and derivatives
came into play in the 1970's. That is why the top 5 banks (JPM, Citi, BofA,
Goldman & Morgan Stanley) hold over $295 TRILLION in derivatives! It is the
ONLY reason that the unbacked system is still viable. This unbacked system has
lasted over 40 years after breaking all ties with gold...an unprecedented record
in monetary history and only made possible by the computer market rigging
programs written in the 1960's by Alan Greenspan.
Greenspan's Golden
Secret
Ultimately, the game must end
as it was always the plan to run the unbacked system as long and hard as
possible before returning to a true Gold Standard.
That time has
come.
May the Road you choose be
the Right Road.
Bix
Weir
------------------------------
There's a story developing now that may scare you.
A true threat to the Fed's... actually a true threat to every central bank's... cartel-like control over your financial security has risen up.
Steve Hanke was a Senior Economic Adviser to President Reagan.
He's calling this phenomenon "A Competitive Threat to All Currencies."
He's right. 36 U.S. cities across 20 states have now abandoned our dollar. But that's not the only currency in danger. People are abandoning the euro, the pound, yen... you name it.
Warren Buffett has warned that we should "fear paper money."
But it's not just paper money. In China they're actually abandoning their gold. So no money is sacred now.
The head of Google, Eric Schmidt, recently held a secret meeting in a remote cottage in the English countryside to discuss what's happening... and what's about to unfold. He revealed this story is "changing society."
Unfortunately, the mainstream media is keeping the American people in the dark about this. That's why we did our own investigation.
Now, this is controversial and it's not for everyone. But, you have to see our findings before it's too late. Click Here to Continue
Regards,
Mike Ward
Publisher
A true threat to the Fed's... actually a true threat to every central bank's... cartel-like control over your financial security has risen up.
Steve Hanke was a Senior Economic Adviser to President Reagan.
He's calling this phenomenon "A Competitive Threat to All Currencies."
He's right. 36 U.S. cities across 20 states have now abandoned our dollar. But that's not the only currency in danger. People are abandoning the euro, the pound, yen... you name it.
Warren Buffett has warned that we should "fear paper money."
But it's not just paper money. In China they're actually abandoning their gold. So no money is sacred now.
The head of Google, Eric Schmidt, recently held a secret meeting in a remote cottage in the English countryside to discuss what's happening... and what's about to unfold. He revealed this story is "changing society."
Unfortunately, the mainstream media is keeping the American people in the dark about this. That's why we did our own investigation.
Now, this is controversial and it's not for everyone. But, you have to see our findings before it's too late. Click Here to Continue
Regards,
Mike Ward
Publisher
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