UPDATE 1:35 PM EDT APRIL 11, 2016
RUMORS swirling say "Martial Law discussions over a banking system failure." are the reason President Obama and Vice President Biden are to meet with Fed. Chair Janet Yellen today after the Federal Reserve's Emergency Meeting this morning. In the history of the United States, it has never before taken place that both the President AND Vice President meet "unexpectedly" with the Federal Reserve. Speculation is already flowing all over Washington, DC that it may have something to do with "the survival of the government."
Members of the House and Senate are said to have been "up all night" in discussions and meetings; with floods of phone calls back and forth.
More: Tuesday and Wednesday the G20 Finance Ministers and Central Bank Governors meet in DC and on Thursday the IMF and World Bank meet in DC as well.
All the leading bankers in the world will be in DC this week.
Something wicked this way comes and it is coming very, very soon; within days we suspect.
Next Tuesday: The Chinese are scheduled to announce their switch from dollar to yuan on Tuesday, April 19th; which will send about two TRILLION in cash back to the US and send inflation skyrocketing overnight.
You need to have emergency cash to live on in case banks close for a couple weeks and shut down credit, debit cards and ATM's; not cash to pay your bills, but rather cash to SURVIVE with for food, fuel, medicine.
Stores may have to close, so you'd better have food, the shelf-stable type that doesn't go bad: 50lb Bag(s) of rice, Boxes of various Pasta, canned meats, jarred sauces. Butter, sugar, salt etc. Enough to survive for awhile just in case.
More details if and when they become available.
While today's Expedited meeting of the federal reserve was called last Thursday, over the weekend astonishing banking developments took place in Europe.
Austria became the first European nation to utilize the new "Bail-in" regulations, seizing 54% of Senior Bondholders stock value to pay the bad debts of Hypo Alpe Adria bank / the Heta Asset Resolution AG. While senior bond holders were considered "preferred" creditors and got 46% of their investment covered, Depositors were considered "subordinated" creditors and got: NOTHING! Citizens were left broke.
Five hours later, the Finance Minister of Italy called an Emergency Meeting of Italian Bankers in Rome to engage what he called a "last resort" to deal with 360 Billion in bad loans against banks with only 50 Billion in Capital.
It appears an actual worldwide banking crisis is lIterally within view on the horizon and this week seems to be when all of it may come to ahead. Perhaps that's why the Finance Ministers of the G-20 nations will meet in Washington Tuesday and Wednesday, and then on Thursday, the World Bank and IMF will meet in Washington.
With every major banker in the world meeting in Washington this week, something is surely "up," and many people are starting to think the general public is about to get "hosed."
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