This week JP Morgan announced it is exiting the physical commodity trade business amid scrutiny. See: http://finance.yahoo.com/news/jpmorgan-exit-physical-commodities-business-195443069.html
Let’s review the scandals:
1. Banks manipulated Mortgage-backed Securities which led to the 2008 meltdown
2. Banks manipulated the LIBOR rate which sets interest rates worldwide on trillions of dollars of investments
3. Banks manipulate the gold and silver commodities
4. Banks manipulate the aluminum market
We must conclude that banks virtually manipulate the entire “current” financial markets in one form or another. They have done this for years with impunity. When they got into trouble, governments bailed them out with taxpayer funds or newly created money, a future liability to taxpayers. This fraudulent behavior is worldwide. The deception is so widespread that it would be hard to find a jurisdiction that was not affected. What about your local bank? Unfortunately its interconnectedness to the larger banks put it at risk as well. Let me explain.
On a daily basis, the local bank sells its excess funds to a larger “correspondent” bank who has an ongoing relationship with it. These funds are called “Fed Funds”. A smaller bank might sell $10 million to the larger bank overnight. The next morning the smaller bank receives the $10 million plus one day of interest income. The larger bank will accumulate funds from many of its correspondent banks and sell to a money center bank such as Citibank, JP Morgan, etc. Typically it will make a small margin buying and selling. I worked the cash desk at the largest bank in Oklahoma in the 1970’s where I bought and sold around $100 million in Fed Funds. Our overall deposits were about $650 million. Our capital structure was under $100 million. Effectively I sold more cash than our capital structure or stockholder equity. This happened every day of the year. What would happen if the New York bank failed to deliver back our money? We would immediately become insolvent. What would happen if we failed to deliver our smaller correspondent banks’ money? They would also be insolvent. These funds are sent through the Federal Reserve wire system. The Fed has full knowledge of everyone’s accounts but it is all electronic money. Currency never moves between banks in this market.
As you can see the current system is so interwoven that if one of the money center banks went insolvent, it could take down the entire system. This current system is built on trust since there is no gold backing any of the money being traded. The same is true for your bank deposits, your pension balance, your social security, and your stock brokerage account.
I am not excited about being the purveyor of bad news. I relay this information so that you can make adjustments to your financial state. Be cautious going forward. Simplify, get rid of “stuff”. Get out of debt. Buy a little silver each month. Keep the cupboard full of non-perishable food and rotate it to keep the food fresh. Keep your vehicle serviced. Try to lower your ongoing monthly bills if possible. Pain is sure to come to the masses. I cannot tell you when for Our Heavenly Father has not told me. However, as you focus on hearing HIS Voice, HE will guide your steps in the turbulent times ahead. I am convinced that Love will see us all through the coming economic storm. HIS thoughts are above our thoughts, HIS ways are above our ways. HIS Love has all the answers needed to endure the trouble ahead. The Remnant will have taken on HIS Nature and will be plugged into the solution. The rest of the world will be looking to this Remnant to show them the Way. The illusions the populace were led to believe will be exposed and they will realize they have been blinded to the point of trusting a system built on smoke and mirrors. There will be much gnashing of teeth. If you have been forewarned about the coming challenges then you can deal with any fear that might try to grip your heart. There will be many with much fear and desperation. They will need to hear a calming voice. It will not be the end of the world, only the end of a failed system.
The answers to the physical realm reside at a higher level in the Spiritual realm. If you can connect to the Spiritual realm then you will find the answers you need for the challenges ahead. We offer books at www.unity153.net to help “connect”. If you can’t afford them, we will give them to you for free. Write us at:
Servias Ministries
PO Box 1471
Bethany, OK 73008
If you want to join us in our pursuit of becoming mature “Sons of GOD”, join us at our weekly Bible study at 3PM CDT on Sundays. You can watch live or watch the recorded previous broadcasts at http://www.ustream.tv/channel/the-baptism-of-love
We are doing our part to minister Love, life, and reconciliation to all men and women around the world.