Financial Collapse !!!

July 1, 2015
Singapore

Yesterday over coffee, a friend of mine leaked the news that JP Morgan’s private banking division here in Singapore is going to start charging negative interest rates.

I almost fell out of my chair.


He’s a successful hedge fund manager and one of their best customers. So when he received the notice, he rang up his private banker and demanded to know why.

Between ridiculously low interest rates (banks are closing loans here for 0.9% or lower) and the increasing costs of compliance, “we can’t make money anymore...” was the response.


It certainly paints a clear picture of how screwed up the entire financial system is.

Compliance is a major component in this. Bankers around the world are buried up to their eyeballs in paperwork and regulations now.


They can’t make a move or approve a single transaction without first doing anti-money laundering, terrorist financing, and tax evasion due diligence.


Imagine it like this: your banker rings you up tomorrow and says, “The government of China requires us to have all of our depositors fill out this paperwork. So I need you to send this form back to me ASAP…”


You’d probably think it was a joke.



Or at a minimum think, “Wait, what? I’m not Chinese. You’re not a Chinese bank. Who cares about some stupid Chinese regulation?”



And you’d be right.



Except that’s precisely what the United States is doing right now.



All over the world, bankers are contacting their customers and forcing them to fill out paperwork to comply with idiotic US government regulations. Even when there’s no connection to the US.


Here in Singapore, the bankers are completely miserable about it.



They’re so angry for having to call customers and say, “Yes I know you’re in India, and I know we’re in Singapore, and I know you’ve been a customer for 10 years. But you still have to fill out this US government form or else we’ll close your account.”



It’s ridiculous-- all of this because the US government is bankrupt.



A few years ago they passed the Foreign Account Tax Compliance Act (FATCA)-- a major part of their crusade to stamp out tax evasion and bring in more tax revenue.

FATCA is now in full force. Banks all over the world have been forced to enter into information sharing agreements with the IRS, meaning that they have to report on all of their customers and force them to fill out meaningless forms.



Needless to say, this costs a lot of money.



If you own a business, you can just imagine how frustrating and expensive it would be to have your employees toil away on senseless paperwork instead of... you know, doing real business.



The US government tells us that all of these disclosure programs have brought in about $6.5 billion in tax revenue.



Yet the costs of compliance are estimated to cost at least $8 billion, with some estimates over 10x higher.



Now that’s a neat trick. Uncle Sam gets the money and passes off the costs to everyone else.



And those who don’t comply with America’s rules are destroyed.



The most blatant example of this was last year, when a French bank was fined $9 billion for doing business with countries that Uncle Sam didn’t like.



Bear in mind, this was a French bank, not an American bank.



They violated no French laws. Yet they had to pay the US government $9 billion for doing business with places like Cuba.



(Ironically, Cuba is now BFFs with the United States, but it’s not like the bank is going to get a refund.)



More recently, the US government destroyed an Andorran bank that was accused of weak anti-money laundering controls.



And a few years ago they took down the oldest private bank in Switzerland.

Every bank in the world has seen these incidents, and they’re scared. They could be next.



And that’s why you can’t get a single financial transaction done anymore without first submitting a mountain of paperwork to prove that you’re not a terrorist. Or financing terrorists. Or laundering money. Or doing business with the Axis of Evil.



Even outside of banking it has become utterly ridiculous.



A friend of mine here runs one of the largest bullion depositories in Singapore; he wanted to buy some raw gold and have it made into bars, so he contacted a refiner.



The refiner said, “Sure no problem. I just need you to send us some compliance documentation before we get started.”



Then he sent a list of no fewer than 22 items that he needed to submit-- copies of licenses, passports, certificates, etc.



22 items. Just to have a refiner make some gold bars. Ridiculous.



So obviously they’re not going to waste their time. Which means there’s some business that could have been done, but won’t, simply because of the compliance costs.



The US government has really screwed the world on this. Paperwork is the priority. Not business.



And all because America is bankrupt.



This trip to Singapore has been very eye-opening for me as I’m just now starting to understand how much people within the financial system despise the US government.



They feel like they’re being forced at gunpoint to be volunteer spies and tax collectors, simply because US politicians have been financially irresponsible.



And to me, it’s the biggest sign yet that America’s financial dominance is coming to an end. They’ve essentially engineered it themselves by alienating the whole world.



The transition isn’t going to be smooth. And it won’t happen overnight. But there will come a time, and likely soon, when the United States gets displaced.



And the rest of the world can hardly wait.

Until tomorrow, 

 

Simon Black 

Founder, SovereignMan.com

 
 
"Like slavery and apartheid, poverty is not natural. It is man-made 
and it can be overcome and eradicated by the actions of human beings."

                                                                                             - Nelson Mandela 

 

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This fills in the blanks - money...

The Paradigm Shift Eastward Dr. Stephen Jones's blog

April 08, 2013 at 11:55 AM

The financial community is having a difficult time keeping up with all the news that is being revealed in regard to the new financial/banking system that is drawing near. All of this is being hidden by the mainstream media, which cooperates with the old Babylonian system to the fullest possible extent, in order to prevent everyone from abandoning the system and thereby crashing it immediately.
I find it interesting that Dr. Jim Willie, one of the more prominent economists that writes a financial newsletter called The Hat Trick Letter, points out that Russia and China are “the Eastern Duo” who are leading the charge against Babylon. My own terminology, based on Scripture, is “The Kings of the East.” Whereas in the days of Daniel, the two nations were Persia and Media, today they appear to be China and Russia. In Daniel’s time, Cyrus of Persia led the way, supported by Darius the Mede; today the dynastic “Dragon” families of China lead the way, supported by Russia.
On April 2, 2013, Willie commented on the Eurasian Trade Zone that is being set up, which excludes the United States. The US itself attempted to set up such a trade zone with Asian countries, but made the mistake of trying to exclude China. That did not work, because the increasing importance of trade with China could not be ignored. The result was that the US is being excluded in return.
In fact, today Australia formally signed a trade agreement with China, where the two nations will trade directly in their own currencies, rather than using the so-called “world currency” (US dollar).
http://bigpondnews.com/articles/TopStories/2013/04/08/Aust_China_currency_deal_secured_861609.html?cid=ZBP_NEWS_L_R1_TOPSTORY_Aust_China_currency_deal_secured_080413
The Australian news media hid this until their Prime Minister actually signed the deal in China today. Their media is much like ours, allowing the insiders to get the jump on everyone else.
And now Britain too has begun to shun the US dollar, first by signing an agreement to trade with Russia in pounds and rubles, rather than in dollars. Dr. Willie says they are now ready to do the same with China in order to ensure their own economic survival.

The Chinese and Russians will conspire to finance the Eurasian Trade Zone corridor foundation with USTBonds, held in reserve, put to usage. The British will play a very unusual role, selling out the United States in order to be squires to the Eastern Duo. The process has begun; it cannot be stopped. The events are already being grossly misinterpreted and minimized in the US press, where devoted lapdogs, artistic swindlers, and creative writers prevail. The Paradigm Shift eastward is showing its next face, with a truly massive trade zone for cooperation and reduced cost overhead as the giant foundation. The Untied States for all of its past hegemony and devious manipulations and vicious attacks, will be excluded. The British will assist in the exclusion in order to avoid the Third World themselves. The following blueprint is the result of years of planning, with steady information and hints and confirmations by at least two Hat Trick Letter sources. The sunset of the USDollar has a blueprint.
http://silverdoctors.com/tag/jim-willie/

It is difficult for the average person to grasp the enormity of this “Paradigm Shift eastward.” It is comparable not only to the fall of Babylon in 537 BC, but also to the fall of the Roman Empire in 476 AD. In fact, it is comparable to the fall of each of the beast nations mentioned in Daniel 7. We are sitting on the cusp of prophetic history. If we are not blind, and if we know the Scriptures, we will be not only awed by the hand of God, but also encouraged to know that the Word of God is being fulfilled. Certainly, there is no need to fear, but to rejoice.
On March 30, 2013 Willie was interviewed in an article on Cyprus under the headline: “Cyprus is the Flash Point that will Result in Massive Shift into Gold & Silver.” The theft of bank accounts in Cyprus was the precedent set for the rest of the Babylonian system in the West. As the system drowns in its own debt, the banks will induce their government slaves to search for large pools of money that they can steal, leaving only an IOU note behind in the form of T-bonds, which will soon be worth less than the cost of paper to print them.
Cyprus used to be known as a “safe haven” for offshore accounts. It will never again regain that reputation. Those who lost money in Cyprus know also that their money was stolen by the wicked witch of the West, the IMF. I believe they will shift their money to more secure locations in the East, such as Singapore and Hong Kong. Any nation associated with the Eurozone or dominated by the Fed can no longer have secure banks in which to deposit funds.
Last January the Fed bailed out the European banks with $1.2 trillion. That is the equivalent of the US deficit for an entire year. What did this accomplish? It served to postpone the inevitable. The more money the Fed creates out of nothing, the more diluted its value is. It is like having a kettle of soup where the soup line is a mile long. In order to feed everyone, they keep adding water to the soup.

Dr. Willie contends, “In January alone, the European banks were the beneficiaries of $1.2 trillion from dollar swap facilities as directed by the U.S. Fed. That’s what’s keeping these bonds floating and the banks alive. They’re zombies.” Dr. Willie says, “Europe is on the verge of collapse.” When it does, Dr. Willie says a new “Gold Trade Finance System” is already in place to take over for the dollar. Dr. Willie’s sources say, “The trade finance system has already agreed on a gold price of $7,000 to $8,000. Silver would be $150 to $200 per ounce.” (March 19, 2013)
http://silverdoctors.com/tag/jim-willie/

The desperate creation of new money out of thin air is a last-ditch attempt to keep the banks solvent and to hide the fact that the big international banks are already bankrupt. It matters little that they have hundreds of billions and even trillions of dollars in their portfolio. What matters is the value of those dollars. The only thing that gives those dollars value is if someone else will take them in exchange for goods and services.
That is what can change literally overnight.
The great Eastern Paradigm Shift is a move away from money backed by nothing (“fiat money”) into a new system where the Gold Standard is being reinstituted. Willie says of this,

“The Gold Trade Standard is coming into view. The East is no longer following the US lead, as a rebellion against the USDollar and its toxic USTreasury Bond is well along. The Eastern giants Russia and China are forging a new path, to install a new Gold Trade Standard that thumbs its nose at the Western banking system and the FOREX currency market. Its marketplace will be the Eurasian Trade Zone, and its gold central bank will be the BRICS Development Fund (clever name to disguise its eventual function).”
http://silverdoctors.com/jim-willie-zirp-the-death-knell/#more-24437

He says that a new currency will be issued, and he calls it the Gold Trade Unit. It will be a paper claim on gold and will be fully backed by gold. The US dollar used to be just that. In fact, old currency prior to 1933 used to have a statement printed on it proclaiming that “this note is redeemable in gold.” That statement was replaced by “This note is redeemable in lawful money,” admitting, of course, that the Federal Reserve Notes were not actually lawful money. Finally, it dropped all pretense of being redeemable by anything and relied only on the faith and confidence of the people to use it as a medium of exchange in purchasing things from the stores.
That was the beginning of the end of the US dollar. It was only a matter of time before Mystery Babylon would collapse. It ran its 70-year course from 1933 to 2003, and we have now accounted for the ten-year Hezekiah Factor in 2013. In other words, we have arrived at the next major Paradigm Shift in Babylonian history.
It is also precisely 100 years since the Federal Reserve Act was passed (Dec. 23, 1913).
Plans are being made even now to revalue more than 100 currencies of the world, adjusting them to their real value relative to gold. Some will be revalued up, and some down, depending on their natural resources and their economy in general. The Iraqi dinar is only one of those currencies, though perhaps the most significant, due to its extremely undervalued position ever since the UN sanctions were imposed on them in 1990.
The western Babylonian bankers are fighting to hold on to their world power, but their efforts to manipulate the markets to depress the price of gold and support the value of the dollar and euro cannot be maintained much longer. In fact, their efforts will only result in a greater disaster, because they are not preparing for this change. Nor are they telling the American and European people through the media, which might allow them to prepare for the new system.
Fortunately, however, God has worked in the hearts of the Kings of the East, answering the prayers of a hundred million Christians in China. The Dragon families are not necessarily Christians (though some of them are), even as King Cyrus was not a believer in the God of the Bible. Nonetheless, our sovereign God has raised them up, proving once again that He can use non-believers as easily as believers to accomplish His purposes.
The Dragon families intend to set the world free from the Satanist rulers of Babylon. Their stated intent is to rebuild the nations of the world with their new Development Bank. They believe that they lost their Mandate of Heaven a century ago (1910), due to the corruption of the dynastic rulers themselves, and they intend to regain that Mandate by being benevolent and constructive. Their intent is to force the cancellation of all debts and institute some form of a Jubilee with this new system.
That is something God can work with. He will use them to remove the worst of the bankers. All known Satanists will be removed from power, and believe me, the Dragon families have done their homework to learn who they are. Of course, most of the small banks are run by good people, and bank employees are certainly not to blame, so they will not be harmed in any way.
Someday the secret history of the overthrow of Mystery Babylon will be written. We are on the edge of the most exciting time ever seen in world history. This generation is privileged to witness it, even as Daniel, in his old age, witnessed the fall of old Babylon and the rise of Medo-Persia, led by God’s Shepherd, Cyrus, the “messiah” (Isaiah 45:1).
As for us, we have received revelation that 2013 is the Year of Release. By the 15-year Hezekiah extension, we have gone back to the year 1998, where the decree went forth to cast out the bondwoman and replace her with the freewoman. That transition was revealed in the location of the Passover conferences, which moved from Hagerstown (1998) to Philadelphia (1999). For this reason, we expect to see the coming year as a major transition from bondage to freedom.
Likewise, by the ten-year Hezekiah Factor, we look back to the year 2003, when the old territory of Babylon—now known as Iraq—was overthrown. This set the spiritual precedent for the overthrow of Mystery Babylon that we are seeing today. Back in 2003, I wrote how President Bush had no idea how he was undermining Mystery Babylon by overthrowing Iraq. When presidents and politicians have little understanding of Bible prophecy, they do things blindly. It remains for us to see and understand and to be encouraged that God is still on the throne.

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This is Part 1 of a four part series titled "The Paradigm Shift Eastward". The links for all four parts are below.

Part 1 - The Paradigm Shift Eastward

Part 2 - The Paradigm Shift Eastward--Part 2

Part 3 - The Paradigm Shift Eastward--Part 3

Part 4 - The Paradigm Shift Eastward--Part 4