On Wednesday afternoon Janet Yellen announced that the Federal Reserve would raise interest rates 0.25%. The first raise in interest rates since 2006. She didn't raise them because the economy is strengthening. The economy just happens to be weakening rapidly, as global recession takes hold. The stock market is 3% lower than it was in December 2014, and has basically done nothing since the end of QE3. Janet would have preferred not to raise rates, but the credibility and reputation of her bubble blowing machine was at stake. The Fed has enriched their Wall Street benefactors over the last six years, while destroying the real economy and the middle class. Do not get caught up in the rate-hike hype and the short term impact that it may or may not have on gold prices. No matter what the Fed does, its bullish for gold in the long term. In the meantime, just thank the Fed for extending the opportunity to buy gold for less than $1,100 an ounce – or cost price!

Peter Schiff thinks that the Federal Reserve will immediately lower them again when it becomes clear the economy is in recession in 2016. The quarter point increase will be reversed in short order as soon as we experience market collapse part two. It will be followed with negative interest rates and QE4, as these academics have only one play in their playbook – print money. They created the last financial crisis and have set the stage for the next – even bigger collapse. John Hussman explains how their zero interest rate policy has driven speculators into junk bonds as the only place to get any yield. “Over the past several years, yield-seeking investors, starved for any “pickup” in yield over Treasury securities, have piled into the junk debt and leveraged loan markets. Just as equity valuations have been driven to the second most extreme point in history (and the single most extreme point in history for the median stock, where valuations are well-beyond 2000 levels), risk premiums on speculative debt were compressed to razor-thin levels. By 2014, the spread between junk bond yields and Treasury yields had fallen to less than 2.4%. Since then, years of expected “risk-premiums” have been erased by capital losses, and defaults haven’t even spiked yet (they do so with a lag).”

Last week, a large junk bond fund barred investors from pulling their money out. Third Avenue Management LLC is barring investor withdrawals while it liquidates its high-yield bond fund. This means that investors in the $789 million First Avenue Focused Credit Fund may not receive all their money back for months, if not more. This is reflected by the Wall Street Journal reporting that US junk bonds are down 2% on the year. Echoed by activist investor Carl Icahn renewed his warnings about the high-yield debt market, criticizing a perceived lack of liquidity in junk bond funds. “The high-yield market is just a keg of dynamite that sooner or later will blow up,” Icahn's comments echoed remarks he has made in recent months about the dangers of high-yield debt. If bonds end the year down, it would be their first losing year since 2008. Additionally bond defaults are at their highest level since 2009. Worldwide, companies have already defaulted on $95 billion in debt this year. That translates to 102 corporate defaults, or 42 more than last year (2014). US companies account for over half of these defaults. Moreover, the US energy sector accounts for 26% of global defaults this year. Credit rating agency Standard & Poor's says half of all energy junk bonds are distressed and that means these bonds have a high risk of default.

Shares of gadget maker Apple have fallen 21% from its recent high of $134.54 a share. This has obliterated $160 billion in shareholder wealth. The decline is larger than 477 companies in the S&P 500 are worth. Does this sound like a recovery?

John Hussman explains that the liquidation of insolvent criminal Wall Street banks would have set the country back on the path to legitimate recovery. Instead, the ruling class chose accounting fraud, QE to infinity, and screwing senior citizens with 0% interest rates. “In hindsight, the financial crisis actually ended – precisely – in March 2009. How? The Financial Accounting Standards Board changed rule FAS 157 and overturned the mark-to-market requirement, instead allowing financial institutions “significant judgment” in the way they valued their assets: often called mark-to-model (or as some of us call it, mark-to-unicorn).” He also warned those who chose to listen in 2000 and 2007 about the impending collapses. He has been warning those who choose to listen for months again. This market has gone nowhere in the last 13 months. It’s about to go somewhere, and that is DOWN. Remember 2000 and 2007. Enjoy the trip – deja vu all over again. “In the absence of clear improvement in market internals – and last week was categorically opposite to that – I view the stock market as being in the late-phase of an extremely overvalued top formation that will likely be followed by profound losses over the completion of this market cycle, and the U.S. economy as being on the cusp of a new recession.”

Peter Schiff also believes the inclusion of the Chinese yuan in the IMF's basket of reserve currencies signifies the end of an era for America on the global stage. He also said “… gold prices are going higher, because it's already fully discounted into the market. I believe more rate hikes than are actually going to be delivered have been built into the market. Lots of people have shorted gold on anticipation of a rate hike. They are buying the fact beforehand.”

Leading up to the Federal Reserve's important December decision on whether to raise interest rates, or keep them near zero, the US central banks conducted two emergency secret meetings over the past two weeks in which the public had little disclosure of what was behind the discussions. However, one interesting and perhaps controversial decision that appears to have come out of them is that the Fed has passed a new law on November 30, 2015 which eliminates one of its original 1913 mandates as being the lender of last resort for the banks.

Out of all the functions and programs implemented by the Federal Reserve since the Credit Crisis of 2008, this appears to be the most confusing since it goes against the primary reason why a central bank was instituted back in 1913. And to suddenly change course seven years after the last financial crisis rocked the global banking system by choosing to shut off the liquidity spigot says a great deal about the solvency of the Fed itself. It doesn't mean that the Fed will not lend to banks in times of emergency, but the bank must prove to the Fed it can pay the emergency funding back.

With the Dodd-Frank Banking Reform Act now allowing banks to re-hypothicate its own customer's money and accounts in the event of a liquidity crisis shows that the US central bank no longer has to follow their original mandate of being the lender of last resort since it is now the public that will provide the funds to bail out banks during future crisis. And with this new law being instituted not by Congress, but by the Fed itself, one must ask if the need and purpose of a private central bank is even necessary anymore, since its primary purpose is no longer being used to protect the banking system from bankruptcy or insolvency.

Regular stress tests of all major banks will be carried out to establish risk. As Pastor Williams already said. Big banks need to come up with $1.2 trillion to cushion themselves from the next financial meltdown. Wells Fargo, JP Morgan Chase, Goldman Sachs, Bank of America and four other banks are most affected. JP Morgan, Bank of America, Citigroup among 8 US banks ratings were cut by Standard & Poor's due to Fed's decision to limit emergency funding. Morgan Stanley will eliminate 1,200 jobs (reflecting 2% of Morgan Stanley's total workforce), including 470 fixed-income and commodities traders and salespeople, as Wall Street's outlook for its debt-markets business dims.

This new legislation with legislation that banks cannot declare bankrupt, they can only refinance themselves in the form of a bail-in of depositors monies or be purchased by another bank and the US tax payer is now liable for all derivatives losses of those banks could possibly be setting up the global financial collapse to be bigger than all the other collapses combined.

Macroeconomic analyst Rob Kirby says the US dollar is constantly manipulated by the Treasury. Kirby contends, “I think we are palpably close to major dislocations in the market … China has been selling US securities on an all-out basis. So, the US Treasury market is weak. So, when the Treasury sees this, it runs counter-intuitive to the strong US dollar which has been a rig job from the get go … The strong dollar and swap spreads trading negative are absolutely in opposition to each other. It exposes that something is tragically wrong, and it is something that doesn't make sense. It's like shining light on cockroaches.” Kirby predicts, “I'm guessing the window is four or five months. We are certainly working our way to a blow off event that is going to change our financial universe forever. … These are end game machinations. This is like going to see David Copperfield and he ends up with the biggest illusion of the night. That's what this is. That's what we are seeing.”

In an interview with Finance and Liberty in November 2015, Jim Willie says “The trigger event for the Western banks breakdown will be emerging market debt default. There's been between $5 and $10 trillion of it and it's already started.” Willie said “I think it's an absolute ‘lock' we're going to see a couple trillion dollars in defaults from emerging market nations in the next several months. The Fed is going to be in a very difficult position along with the Bank of England to cover the failed emerging market debt, just like they covered the Wall Street … mortgage bonds.” On oil he said “I think the domestic trigger in the US will be the failures from oil hedges. Outside the US will come from emerging market debt default. The combination is going ti put tremendous pressure on the ‘dollar managers'.” He also spoke about insolvent banks hiding losses “the big banks] profits are not just ‘down', but that their profits are overwhelmed by losses ten times larger – but hidden. We've got a new sub-prime problem that's going to hit the banks. It's for car and student loans. The student loans are now up to $1.5 trillion, and a remarkable statistic is out there … something like 30-40% of graduates are not finding a job, so they're facing default.”

In June auto sales had reached 10-year highs on record credit. In short, the “renaissance” in US auto sales is being driven by increasingly risky underwriting practices and is leading directly to the securitization of shoddier collateral pools in a return to the “originate to sell” model that drove the housing bubble over a cliff in 2008. Thomas Curry Comptroller of the Currency recently stated “what's happening in the auto loan market reminds me of what happened in mortgage-backed securities in the run-up to the crisis.”

According to top trends forecaster Gerald Celente, 2016 is going to be very rough. Celente says “Global recession, and it's already happening, all they have to do is open their eyes and open their ears. Iron ore, copper, aluminum, nickel, zinc, one after another from wheat to dairy products to corn. When you look at the Bloomberg Index, it's down to 1999 levels on average. What is that telling us? There is too much product and not enough demand. It's the same thing with oil. There's too much production and not enough demand. What we are looking at is a global slowdown because commodities are the canary in the mine shaft.”

Celente says all this is signalling another financial bust bigger than 2008. Celente explains, “So, what you have is a bubble, a debt bubble that has grown to $220 trillion worldwide since this fake quantitative easing and negative interest rate schemes that have gone on with central bank after central bank … You can't make this up. Interest rates and negative yields have never happened before in the world. This is brand new. They are over their heads and out of their league. They don't know what they are doing. They are making panic decisions trying to keep the Ponzi alive.”

On global war, Celente says, “Unfortunately, when all else fails, they take us to war. Look, go back to 1929 and the market crash. You had market crashes, Great Depression, currency wars, trade wars, world war. Voila, here we are again. Panic of '08, Great Recession, currency wars, world war … When the market collapses, the war talk will heat up.”

Gold and silver are running counter to other commodities. Why? Celente says, “Demand is up for gold and silver. To me, it is the ultimate safe haven. I've been saying since 2012 and 2013 that the bottom for gold is about $1,050 an ounce. I gave that number out because that's about what it costs to pull it out of the ground. Gold is about planning for the worst.”

So, is the spike in gold and silver demand a precursor to the next crash, which Celente is predicting to be coming soon? Celente says, “I totally believe so. It's definitely worse now. Look at the bubble they created. If there is a terror strike, they will use this as the excuse to rob us to try and mitigate the disaster that they have caused. I believe they will declare a bank holiday and devalue the currency. That's the way they are going to get us out of this.”

Analyst and trade Karl Denniger predicted years ago that Obama Care would “kill the economy” and “eventually implode”. That is exactly what is happening now. Denniger contends, “The majority of the money we spend in healthcare is jacked up due to these monopolist policies which raise the cost four or five times where it ought to be. On top of that, we are being forced to pay for people who have made lifestyle choices that dramatically raise their cost of healthcare. The health insurance people are faced with an untenable problem because if the only people who buy car insurance wreck one car a year, the cost of car insurance is $20,000 a year because that is the cost of the car.” Denniger goes on to point out, “The rate increases that are coming down this year are astronomical. I am seeing rate increases as high as 50% for inferior coverage. Benefits come off your top line as an employer. So, all this means much slower growth if any at all because all this money is being siphoned into the health insurance and healthcare system.”

With the economy sinking in part due to Obama Care, is the Fed going to raise rates soon? Denniger says, “Janet Yellen doesn't have any choice but to raise rates. We have an emergency policy rate right now that is destroying the pension funds and the insurance companies in this country. This is where the pressure is coming from. It has nothing to do with the economy. It has everything to do with fixed income bond ladders. That is a mathematical problem that Yellen has to confront. She certainly is going to take a lot of heat, but rates are going to go up.”

Denniger also accurately predicted “It's going to be a quarter of a point, and everybody will scream but it does not mean anything from an economic perspective. What it does is it signals to the market that the game of rolling down interest rates is over, and increasing systemic leverage, that era is over. It is mathematically certain that it has ended. So, how long does the bubble remain? Where do we go from here? Not in a positive direction.”

Raising interest rates will restore some credibility in the short-term. However, the Federal Reserve risks squeezing itself financially, along with the rest of the world, due to the rising cost of borrowing. The decision could eventually create disastrous consequences when it comes to managing the US debt – perhaps sooner than the Fed would anticipate. Whatever decision the Fed made, it doesn't benefit itself or the economy. Even Billionaire Sam Zell warned that the Fed is too late, “Recession Likely In Next 12 Months”.

As Karl Denniger stated, and Pastor Williams and myself have said for quite some time now, low interest rates harms retirement funds. In order to keep paying out retirees, pension funds need good returns and therefore they needed the interest rate hike. 0.25% is a start, but we'll see in early 2016 if this was a mistake. Already the world's largest pension fund Japan's Government Pension Investment Fund posted a $64 billion loss. How long before other retirement funds post losses?

Trader and analyst Gregory Mannarino says this about the surging stock market, even know the economic and geopolitical news is bad “Forget about the stock market. It has absolutely disconnected from reality in every way, shape or form you can think about. We are now existing in economic fantasyland. The market top from May has held so far. Will it continue to hold? Here's what I'm thinking now. I do believe it has the potential to hold, but why is the market up on the shooting down of this Russian jet and helicopter? Because they are expecting the world central banks to do something. We have terror all over the world and war building up. This is going to give them an excuse to print and stimulate. That is going to have an effect on the markets, and that is why its higher.”

Financial expert and expert in the federal budget and a former Assistant Housing Secretary Catherine Austin Fitts says this about the biggest financial problem the world faces “The reality is the big mother lode on the whole planet, whether you are talking about derivatives, the bond market or the stock market, is the U.S. federal budget. What is slowly begging to happen is the dawning realization that we are not only going to have to re-engineer and cut the federal budget, but we are talking about reinventing the U.S. economy. There are going to be extraordinary choices, and this is why nobody wanted to be the Speaker of the House. Paul Ryan did not want to be the Speaker because Paul Ryan knows this is coming. They will probably be able to delay it until after the election (2016), but then after the election, we’re going to have to sit down and say we can’t keep doing this. Why is this relevant?  All the markets globally work off the federal budget. It is extraordinary the amount of cash flows and credit that work off the federal budget. The credit and cash flows coming out of that budget are enormous. The reality is it is going to have to be re-engineered. That’s going to be a very shocking experience for many people.”

Richard Russell, founder of Dow Theory Letters said “The end of capitalism will be due to the unbelievable amount of debt that is currently being created. This will create monster inflation that will destroy every currency. The only currency that cannot be destroyed is gold. When investors realize this, we'll have the makings of the greatest bull market in gold ever seen.” Jim Rickards, writing in The Daily Reckoning newsletter said “The military and intelligence communities are absorbing the new reality, but most investors are still behind the curve. Traditional stocks and bonds are digital assets that can be hacked, wiped-out or frozen with a few keystrokes. It's important to allocate part of your portfolio to physical assets that cannot be wiped out in financial warfare. These assets include silver, gold, fine art, land, rare stamps, cash (in banknote form, not bank deposits) and other physical stores of value.” 

Renowned money manager Eric Sprott is still very bullish on physical gold and silver. Why? Sprott procaims “The US is broke … About a thousand professors have signed up and told Congress you’ve got to deal with this issue, and it is immediately ignored, but it is by far the biggest issue. It’s not just government. It’s corporate pension plans, and state pension plans and all these unfunded obligations where everyone thinks they are going to receive something only to find out that they are not going to receive something … We can’t keep extending and pretending and suggesting everything is great. Unfortunately, someone is going to pay the price, and I am not sure when the price is going to be paid. The analogy I use is we all knew ten years ago that Detroit was broke. It was so mathematically certain that you knew what was going to happen. The same thing will happen to the United States.” On his physical gold and silver investments, Sprott says, “I don’t lose any sleep over the price of gold going down in the sense that I believe what I believe. I believe it’s been manipulated. It’s very much about currency and economics of the Keynesian scheme that we’re going to spend money, print money and it’s all going to work. It’s not working. I don’t want to wait and find out the day it falls apart because when it falls apart someday, then it will be too late. I want to be positioned beforehand.” Sprott predicts, “There has to be a collapse. It will be way bigger than 2008. We had a debt problem in ‘07 and ‘08 and the debt has exploded.”

Larry Edelson said that the stock market was looking bearish and that “all available evidence tells me that U.S. and European stock markets are now a recipe for disaster.” He announced FIVE problem areas: FIRST, has been accompanied by declining volume. When a market rises and volume simultaneously declines, it's a bearish sign. SECOND, most stocks traded — both here and in Europe — are actually declining. There are very few leaders pushing the major indices higher. In fact, as I pen this column, here in the US. Of all publicly traded stocks – 44.63% or fully 6,442 are now down at least 10% year-to-date – While a whopping 36.9% or 5,204 are down more than 15%. And only 32.5% are actually up for the year. 77.5% of all publicly traded U.S. stocks are either flat for the year or down more than 10%. THIRD, of the stocks that are actually advancing, their numbers are also shrinking. Also a very bearish omen. FOURTH, most other indices are actually down for the year. The Dow Transports are down 10.2%. The Dow Utilities, down 3.5%. The Russell 2000, down 2.5%. FIFTH, total margin buying of U.S. equities — according to latest data (Sept. 30) — stands at a whopping $454 billion, just a tad below record highs. His answer to these five problem areas is “If you're heavily invested, just get out now.”

The Bloomberg Commodity Index is now trading lower than it did in 2008, and after 9/11. This is a stunning collapse in compdities prices. Companies like Anglo-American, are announcing layoffs. Anglo is laying off 85,000 people, 2/3rds of the company. China just announced over 100,000 coal miners to be laid off. Also, in November it was a record month for China in terms of the pace of its liquidation of foreign exchange reserves. The People’s Bank of China reported on Monday, December 7 that foreign exchange reserves, which mostly consist of U.S. Treasury debt, dwindled by another $87 billion in November. This constitutes a stunning 2.5% drop in one month.

Brazil is sinking deeper into its worst economic crisis in decades. It's economy shrunk by 4.5% during the third quarter, according to government data released recently. It was the biggest quarterly decline since Brazil started keeping GDP records in 1996. Its economy has shrunk three quarters in a row. The downturn is only getting worse. Brazil's economy is spiraling into a a full-blown depression. Since July 2014, Brazil's currency has lost 41% of its value against the US dollar. Meanwhile, Brazil's annual inflation rate just topped 10% for the first time in 12 years. And the country's unemployment rate hit a six-year high of 7.9% in October.

China's slump is one reason why Brazil is unraveling. China's economy grew 9.7% per year from 1990 through 2014. In 2010, China became the world's second-largest economy. During this time, China's explosive growth helped boost the global economy. China needed a lot of raw materials to build its infrastructure. This helped countries, like Brazil, that export those materials. In fact, China's rapid growth helped Brazil become the seventh-largest economy in the world. But, China's economy is slowing now. Last year, China grew at its weakest pace since 1990. That's creating big problems for Brazil.

Brazil sends 19% of its exports to China. That's more than it sends to any other country and nearly twice as much as it sends to the US. China's slowing economy means it's building fewer factories, office buildings, and bridges. That's hurting demand for Brazil's largest exportL iron ore, the main ingredient in steel. Iron ore accounts for 19% of Brazil's exports. It's by far the country's largest export.

The US economy also appears to be slowing down. According to the Wall Street Journal, spending on capital goods fell 3.8% during the first 10 months of 2015. Capital goods include equipment and machinery. Meanwhile, business investment only grew 2.2% during the third quarter. That's one of the smallest increases since the Great Depression, according to the WSJ. The energy sector is a big reason those figures are so weak. As you likely know, energy prices have plummeted. The price of oil has dropped 40% over the past year. And the price of natural gas has dropped 34%. Energy consulting firm Wood Mackenzie estimates that North American oil companies have cut spending by $220 billion since last summer.

US exports fall to the lowest level in three years. The US trade deficit climbed 3.4% in October as exports of American-supplied goods and services fell to the lowest level in three years. The gloomier trade picture, the result of a strong dollar and weak global growth, is likely to weigh on the US economy again in the fourth quarter. A higher deficit subtracts from GDP. Exports dropped 1.4% to $184.1 billion, hitting the lowest level since October 2012. A strong dollar had made it more expensive for US companies such as manufacturers to sell goods and services to foreign customers. A weak global economy has also made it harder for customers outside the US to buy American goods. US imports also dipped, down 0.6%, though most of the decline stemmed from the cheaper oil. The value of US oil imports was the lowest since 2003. Similarly, the gap between how much petroleum the US imports and how much it exports also slide to $4.5 billion, the lowest deficit since 1999. The falling petroleum gap largely reflects a surge in US oil production owing to fracking.

The WSJ also reported that companies in other sectors are dialing back investments as well. The industries that are pulling back range from retailers and manufacturers to energy companies and service firms. Major retailers such as Macy's are cutting back on spending. Macy's Inc. plans to close 35 to 40 stores early next year, joining J.C. Penney Co. and Abercrombie & Fitch & Co. among retailers announcing cutbacks this year.

Based on credit card data, this holiday spending period is a disaster. Following disappointing sales over the Black Friday to Cyber Monday weekend, there has been absolutely no follow-through momentum as is usually seen. Chain store same-store-sales crashed 6.3% week-over-week. It appears that shoppers were sated after the hefty promotions offered in the prior week associated with Black Friday. There may also have been a drop off in brick-and-mortar shopping activity while many online retailers were offering deals for Cyber Monday.

Companies buy more equipment and machinery when they're optimistic about the economy. They cut back on spending when they think the economy is slowing. Right now, declining business investment is one of the many signs pointing to a slowing US economy.

The ratio of inventories to sales rose slightly in October to the highest level since the recession, a potentially worrying sign that companies are having trouble selling what they are producing. The ratio of inventories to sales rose to 1.38 from 1.37, the highest since 2009, the Commerce Department reported on Friday. Generally speaking, a rising ratio is not healthy, unless companies foresee an acceleration in demand. Business inventories were flat in October, as manufacturers and wholesalers slightly reduced stockpiles while retailers added to them.

The Baltic Dry Freight Index has collapsed to all time lows at a time of typical seasonal strength for freight and thus global trade around the world, Reuters reports that spot rates for transporting containers from Asia to Northern Europe have crashed a stunning 70% in the last few weeks alone. This almost unprecedented divergence from seasonality has only occurred at this scale once before… 2008!

More evidence is revealed each week that the unexpected is happening.  Instead of economic strength and robust growth, economic fundamentals are breaking down.  Manufacturing is slowing.  Consumer spending is soft.  For additional edification, just look at copper, iron ore, or aluminum…

In the UK retail sales are flatlining, the CBI Industrial Trend Survey is down, consumer confidence is down, manufacturing output is down and the trade deficit in goods has ballooned last year to £134 billion.

IMF director, Christine Lagarde, has been recklessly advocating for a wholesale seizure of 10% of all accounts in the Eurozone, but because there may be riots and even a revolution if there are wholesale bail-ins, the IMF has settled on a more incremental plan of economic subjugation in which a 10% tax will be implemented against all bank account holders in order to pay down the debt. What the IMF and the central bankers are not telling you is that the debt can never be paid down because the primary source of the debt comes from the derivatives market which totals a minimum of one quadrillion dollars. In short, these bankers are merely trying to stay one step ahead of the burning bridge by stealing your pensions and bank accounts. And does anyone truly believe that these bankers will stop at looting just 10% of your bank account? When does 10% become 20%, which becomes 30%, which becomes 100%? This will be followed by the bankers issuing neo-feudalism syle of welfare to all citizens. Mark my words, the 10% “tax” is just the starting point.

The IMF Report states “The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth… Simulations show that maintaining the overall budget at a level consistent with the IMF staff's medium-term advice would bring the average debt ratio to about 70 percent of GDP by 2030, although in a few countries it would remain above 80 percent. However, the large debt stock, the uncertain global environment, weak growth prospects, and the absence of well-specified medium-term adjustment plans in systematic economies like Japan and the United States complicated the task.”

The FDIC has only about $25 billion in its deposit insurance fund, which is mandated by law to keep a balance equivalent to only 1.15% of insured deposits. If a banking collapse were to be on the near horizon, the bankers are not going to notify you because they would not want to incite a bank run. With only 1.15% of all deposits being insured by the FDIC, your money would be left vulnerable and only the Elite would be warned as they quietly transfer their money to a safer haven. During the Gulf oil spill, it was revealed that Goldman Sachs issued a “put option for preferred insiders” in Transocean (the owner of the Deep Water Horizon oil rig) and the Elite had their stock profit margin guaranteed while everyone else took a financial bath. This is the undeniable pattern of the global Elite.

Additionally your bank account has been collateralized against the derivatives debt. The bankruptcy reform laws stemming from the Bankruptcy Reform Act of 2005, derivatives counter-parties are given preference over all other creditors and the customers of the bankrupt financial institution, including FDIC insured depositors. This gives what the experts say “super priority” in terms of the line of succession from which to collect bankruptcy monies. Bank of America has conspicuously co-mingled their derivatives debt with your savings account and as such they have every legal right to use your money to cover their debt. During the MF Global debacle, the reson that MF Global customers lost their segregated account funds because the MF Global debt load was caused primarily because of their derivatives debt which, under bankruptcy laws, gave derivatives claimants super-priority in the bankruptcy proceedings.

If you move to withdraw the bulk of your money, there are three federal banking laws that you should be aware of, namely, Cash Transaction Report (CTR), a Suspicious Activity Report (SAR) and structuring. CTR. Federal law requires that the bank file a report based upon any withdrawal or deposit of $10,000 or more on any single given day.The law was designed to put a damper on money laundering, sophisticated counterfeiting and other federal crimes. Structuring and SAR. It is a federal crime to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement. In these instances, the bank is required to file a SAR which serves to notify the federal government of an individual’s attempt to structure deposits or withdrawals by circumventing the $10,000 reporting requirement.

JP Morgan Chase is banning wire transfers from their bank to foreign banks to prevent American capital flight which will surely happen as America wakes up to the desperate situation that the banks are in. The bank is also prohibiting any cash withdrawals of $50,000 or more. HSBC followed suit and its highly likely that all five megabanks will enact the same policies in the near future.

It is getting increasingly difficult to get away from the system. Even if you were to leave the country, it is becoming much more difficult for your money to come with you. There is a war on cash and it is becoming increasingly difficult to barter without a paper trail. If you have taxes outstanding the government can restrict your passport until those taxes and fines are paid. Obama quietly signed H.R. 22 into law and deep within those pages is a provision giving the government the authority to revoke your passport if they believe in their sole discretion that you have “seriously delinquent tax debt”. You have no alternative but to work with the system. However, one thing you must do immediately is no longer be faithful to just one banking institution. Open multiple accounts and spread your risk. Do not focus on just large banking companies also investigate small institutions, but make sure you do your due diligence. Keep just enough money in your bank accounts to pay regular bills and keep some in cash at home because with the introduction of negative interest rates the banks you will pay the bank to hold your money. Buy a safe and security system to secure your home. If your state allows, it may also be wise to arm yourselves as I have heard certain states police no longer have the ability to protect its citizens. Obviously when the crash does occur the US dollar may be worthless until the currencies of the world are reset and the new world currency is revealed. Therefore, for cash in excess of a few thousand dollars it would be better to invest any excess in tangible items such as physical gold and silver that you can sell or trade at a later time. Keep some physical gold and silver at home and some in a vault. Certain gold dealers have the ability to store physical metal offshore in such jurisdictions as Singapore, which has very good banking secrecy. However, as we have already proven, things can change rapidly in the global political and financial arena so continue to keep abreast of latest developments worldwide.

You have two choices, wait and see what happens or sell your worthless paper and invest in gold, silver, fine art, land and other tangible items. It is up to you, we can only share the facts of what is happening. Plan for the worst. This is what Pastor Williams has been telling you.