Thursday - October 17, 2013

Tea Party Is Still Right

Urgent message from ChiCom government treasurer Wi O. Nyu: America, yu suk! Too much debts! Pay now; no more borrow cheap!

A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington’s resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained “unchanged”.

Dagong lowered its ratings for US local and foreign currency credit from A to A-, maintaining a negative outlook, the agency said in a statement.

The announcement came after the US Congress passed and President Barack Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown.

”The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged,” Dagong said in the statement, adding Washington’s solvency was vulnerable as old debts were still repaid through raising new debts.

“Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future,” it said.

Dagong made headlines in August 2011 when it lowered its main rating for US sovereign debt after Congress passed an earlier bill to raise Washington’s debt ceiling.

Ain’t that just wonderful?

But hey, it’s those CRAZY EXTREMISTS in the Tea Party with their asinine idea that the government should try to significantly reduce spending and pay down the debt a big chunk. Guess we’ll have to call the money boys in China The Green Tea Party.

MEANWHILE, JP Morgan Chase has decided that businesses can no longer send money out of the country in large amounts. Which is going to make it hard to pay for things like a container ship full of refrigerators, or a tank ship full of oil, etc.

We hope you’re paying attention.

If there were ever a red flag warning about the economic and financial destruction to come, JP Morgan Chase Bank began flying it this morning.

In a shocking report from Infowars we learned that mega-behemoth Chase has issued letters to thousands of business customers indicating that they will no longer be allowing international wire transfers or cash deposits/withdrawals in excess of a $50,000 monthly cap.
...
This is nothing short of a capital control, which is an economic strategy designed to limit the transfer of money. It is a strategy implemented only during times of economic or financial distress, most often as a precursor to wealth seizures by the state.

Be warned, Chase bank is the first of likely many banks to begin the lock-down of the financial wealth of private individuals in the United States of America.

The new restrictions are particularly ironic because JP Morgan Chase (along with other large banking conglomerates) is a primary shareholder, and thus owner, of the Federal Reserve, which has been responsible for sending trillions of freshly printed dollars outside of the country over the last several years.

The fact that these letters were being sent out to Chase customers was confirmed at the time that we published, but in the last 24 hours we have confirmed that even large businesses doing international transactions have also received the same letters.
...
What this constitutes is a war on cash and a war on small business and individuals. Two years ago we saw a giant backlash against Bank of America when they announced customers would be charged for using their own money via their debit card. We have crossed the rubicon where now the currency has been so devalued that you will have to pay fees to have your money in a bank or use a debit card.

In saying that international wire transfers are too much of a risk, Chase Bank might as well be bankrupt because it is telling you there is no money to withdraw.

This is where the mega banks have wanted to take us all along – a total cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom. This is clearly a major step towards capital controls as we saw with the Cyprus bail-in.

... here it comes ...

Posted by Drew458     on 10/17/2013 at 12:31 PM   
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