Federal Reserve Says Banks Need to Brace For Economic Impact

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The Federal Reserve Bank (FRB) warned financial institutions to reserve on-hand cash, government bonds and all highly rated assets to survive a severe economic “downturn”.

The FRB outlined essential “liquidity” requirements to ensure that cash can be assessed in an instant.

Those financial institutions with more than $250 billion in assets on the books are now required to hold those cash reserves to fund banking operations for 30 days during severe market “stress”.

Smaller banks with an estimated $50 million in worth are expected to have that much in in-house accounting to survive for 21 days.

Banks are being subject to international standards as disseminated by the Bank for International Standards (BIS).

Ben Bernanke, chair of the FRB said: “Liquidity is essential to a bank’s viability and central to the smooth functioning of the financial system. [The new regime] would foster a more resilient and safer financial system in conjunction with other reforms.”

Last January the BIS and the Basel Committee on Banking Supervisors (BCBS) has applied the underlying pressure on US banks to liquidate to appease global markets. The American taxpayer is picking up the tab for this turn of events. BIS is giving these banks until 2019 to comply with their new rules. Capital to prop up the banks will be needed while they liquidate assets such as bonds, mortgages, loans and stock shares.

Consequences of the liquidation have been evidenced in governmental austerity and movement toward sovereign debt by the technocrats. Any asset assessed by Basel can and is being used as collateral of the banksters in an anything goes temperament while the squandering of wealth continues.

BIS has used the scheme of forcing capital from the banks to control the measures taken globally. International banking constraints mandated in these new rules are putting more control into the hands of “shadow banks” where supervision is unheard of.

Michel Barnier, commissioner of BIS, stated that the Basel Committee has “revised liquidity coverage ratio and the gradual approach for its phasing-in by clearly defined dates. This is significant progress which addresses issues already raised by the European Commission. We now need to make full use of the observation period, and learn from the reports that the European Banking Authority will prepare on the results of the observation period, before formally implementing in 2015 the liquidity coverage ratio under EU law in line with the Basel standards.”

Liquidity is seen by the technocrats as a necessity for “the stability of banks as well as for their role in supporting wider economic recovery.”

At a time when the introduction of a global currency to replace all fiat across the globe is at hand, it makes perfect sense that the technocrats are positioning themselves to control the central banks as offshoot branches of their operation. At the head of this monster, the BIS sets the tone and directs the banksters with limitations and orders.

The European Central Bank (ECB) is setting the stage of a complete financial collapse of fiat currencies across the globe. Joining in the scheme are other technocratic institutions such as the Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan and the Swiss National Bank.

Under the guise of preventing a system failure during the global financial crisis, there will be “an extension of the existing temporary US dollar liquidity swap arrangements until February, 1 2014.” This action allows the central bankers to liquidate currencies under their jurisdiction “should market conditions so warrant.” Under this plan, euros backed by nothing can continue to pour into the system throughout the Eurozone “in addition to the existing liquidity-providing operations” in the US. This liquidation will take place “until further notice.”

The UN has proposed a complete overhaul in the report entitled, “Adapting the International Monetary System to Face 21st Century Challenges”.

They call for a “more intense debate on and reforms to the international monetary system imply that the current system is unable to respond appropriately and adequately to challenges that have appeared, or become more acute, in recent years. This paper focuses on four such challenges: ensuring an orderly exit from global imbalances, facilitating more complementary adjustments between surplus and deficit countries without recessionary impacts, better supporting international trade by reducing currency volatility and better providing development and climate finance. After describing them, it proposes reforms to enable the international monetary system to better respond to these challenges.”

They recommend movement toward a global currency that will replace all current currencies. Revaluation will be accessed and the worth of money would redistribute with oversight of the IMF, WTO and ultimately the UN.

source: occupycorporatism

Evil Plans For You – NWO, Martial Law, FEMA Death Camps

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There exists a secretive elite, that consists of perhaps twelve men at the very top, who rule the world through banking and international finance. Publicly these men pretend to be humanists, but secretly they have to chosen to worship Lucifer. They are now in the process of the final take over, where they will bring in a one world government and one world economic system, which will be coming soon. Their primary means of achieving this goal is through control of the economy and through scientific mind control, dumbing down the general public making them submissive and slow kill weapons such as putting fluoride in the water systems, GMO in our food, lethal vaccines and Chemtrails in the sky. They want the majority of people totally dependent on the government so when they have you so dependent on them for everything they can take it away and destroy you. Divide and conquer is their main tool where they get the public to turn on each other or petty differences and manufactured fake racism.

These authoritarians tell us that the founding fathers would not be welcome in today’s military, loving freedom, the Constitution and the Bill of Rights makes you an extremist. They tell you that your children belong to the State, you have no parental rights. The new common core curriculum teaches that 2 + 2 = 5. We live in a total police state where you are being watched in everything you do, cameras everywhere, in your appliances as stated David Petraeus which was covered by Wired.com, NSA is spying on you and your every keystroke.  Anyone who is a free thinker is dangerous to them.

In the United States, the primary evidence for the success of their mind control operation is the fact that the thinking, belief systems, morality, behavior and religious beliefs of the average American have radically changed in just a few short decades. The elites have perfected social engineering to such an extent that they have now indoctrinated several generations of Americans into being anti-Christian, anti-American and Marxist in their belief systems.

The stealthy nature of their strategy has developed politicians at the highest level who are programmed like Manchurian candidates with synthetic personalities and they have developed Manchurian actors and entertainers as well. They own and control the main stream media, influence you through movies and television.

Once they break us down into total submission and their controlled total depression that is looming they will enforce Martial Law on the public to disarm gun owners and take them to their “Interment camps” a.k.a. FEMA CAMPS. Your either with them or with the terrorists as President Bush once said. In this video I show you how their continuity of government plan, NWO and Martial Law has been in the works for decades giving you proof straight from the horses mouth and I provide the documents as well. One great example of their total criminal Martial Law is from Katrina. They didn’t go to the looting and rioting, they went to the wealthy class homes and raided them for their diamonds and anything worth money, and for their guns. There were some I have been told who wouldn’t give up their guns they killed them.

 

What China Really Thinks of the Shutdown

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In the midst of a domestic crisis, it is easy to forget that the rest of the world is watching. Now that the U.S. federal government has shut down for the first time since the mid 1990s, the talk of the town is the political problems of the world’s largest economy and sole superpower. In China, most media reports about the shutdown have been merely informative, but every now and then they offer a rare insight into what the Chinese have learned about America’s shortcomings.

“As far as the Chinese populace is concerned, the government shutdown is like the Arabian Nights,” writes Wang Xuejing of Hong Kong Daily News. Evidently, for the citizens of a totalitarian state, the prospect of a government shutdown seems otherworldly. The newspaper Qilu Wanbao complains, “To us, far on the other side of the ocean, the information appears contradictory. Some say Americans are furious […] Some say [everyday] life remains unchanged. Have or haven’t Americans been affected by the federal shutdown?”

The notion of a government shutdown is strange for the average Chinese person because its consequences in the People’s Republic would go far beyond closed federal agencies and parks. In mainland China, and increasingly Hong Kong, every school and every agency (national and local) answers to a party minder. Banking and internet traffic are also closely monitored by Beijing. Should the party overseers be absent one day, many organizations crucial to China’s social structure would suddenly find themselves without official guidance. The effects of such an abrupt and unfamiliar decentralization are impossible to predict.

Yet other commentators find the federal shutdown inspiring. Dr. Li Xiaohui, Assistant Professor of Law at Xiamen University writes, “The life of the average American has not been greatly affected by it and the economy has continued to grow. This reflects the clear limits between America’s government and the market. Our country should likewise move forward and decouple the government from the economy.” Similarly, the newspaper Nanfang Dushi Bao commended the strength of American society for being able to function without the government.Interestingly, while the American public sees the shutdown as a government failure, some Chinese are seeing it as a sign of efficiency. The common belief that the Chinese words for “opportunity” and “crisis” are the same, though wildly untrue, seems applicable in this case.

While common Chinese citizens muse over the implications of a shutdown, China’s leadership has been giving the impression of merrily promenading through Southeast Asia, stealing the international spotlight. Taking advantage of Obama’s absence at the recent APEC and East Asia summits, President Xi Jinping visited Malaysia and Indonesia with a friendly demeanor that his predecessor would have likely avoided, greeting the Indonesian parliament in the local language and visibly travelling with his celebrity wife Peng Liyuan. In Brunei, on the other hand, Premier Li Keqiang stuck to the usual rhetoric of making progress on a code of conduct for the South China Sea disputes and indirectly urged the U.S. not to get involved.

But aside from bewilderment and contentment over the shutdown, there is also concern in China about the possibility of a future U.S. default. At a recent news conference in Beijing, China’s Vice Finance Minster Zhu Guangyao said that the U.S. must protect its creditors, stating, “safeguarding the debt is of vital importance to the economy of the U.S. and the world […] This is the United States’ responsibility.” Dr. Li echoed the Minister’s message, “The shutdown of the American government is a warning to our compatriots that we should optimize the allocation of our foreign exchange reserves.”

As the largest holder of U.S. debt, China unsurprisingly appears more concerned about American solvency than about the unfamiliar mechanics of a representative democracy. Despite this, China as a whole also appears to be learning a great deal from the shutdown, not only about the American political system, but also about itself and its future. As the shutdown enters its third week, it remains to be seen if America will learn something as well.

Source

Food stamp debit cards not working in 17 states

obamacardHERE WE GO. HOPEFULLY IT’S JUST TEMPORARY AS THEY SAY IT IS. WITHIN 72 HRS PEOPLE WILL START RIOTING IF  THEY DO NOT HAVE  FOOD.

Fox News reports:

People in Ohio, Michigan and 15 other states found themselves unable to use their food stamp debit-style cards on  Saturday, after a routine check by vendor Xerox Corp. resulted in a system failure.

The electronic benefits system experienced a temporary shutdown during a routine test of Xerox back-up systems,  company spokeswoman Jennifer Wasmer said Saturday.

“While the system is now up and running, beneficiaries in the 17 affected states continue to experience connectivity  issues to access their benefits. Technical staff is addressing the issue and expect the system to be restored soon,”  Wasmer said in an emailed statement. “Beneficiaries requiring access to their benefits can work with their local retailers  who can activate an emergency voucher system where available. We appreciate our clients’ patience while we work  through this outage as quickly as possible.”

U.S. Department of Agriculture spokeswoman Courtney Rowe underscored that the outage is not related to the  government shutdown.

Shoppers left carts of groceries behind at a packed Market Basket grocery store in Biddeford, Maine, because they  couldn’t get their benefits, said fellow shopper Barbara Colman, of Saco, Maine. The manager put up a sign saying the  EBT system was not in use. Colman, who receives the benefits, called an 800 telephone line for the program and it said  the system was down due to maintenance, she said.

“That’s a problem. There’s a lot of families who are not going to be able to feed children because the system is being  maintenanced,” Colman said. “No one should put maintenance in during the daytime.”

She planned to reach out to local officials.

“I’m trying to reach out to everybody because I’m not thinking of me an adult who can figure out things. I’m thinking of the simpler person in the world who is sitting there trying to just do basic shopping to feed their kids. You don’t want children going hungry tonight because of stupidity,” she said.

Colman said the store manager promised her that he would honor the day’s store flyer discounts next week.

Ohio’s cash and food assistance card payment systems went down at 11 a.m., said Benjamin Johnson, a spokesman for the Ohio Department of Job and Family Services. Ohio’s cash system has been fixed, however he said that its electronic benefits transfer card system is still down. Johnson said Xerox is notifying retailers to revert to the manual system, meaning SNAP customers can spend up to $50 until the system is back online. SNAP recipients should call the 800 number on the back of their card, and Xerox will guide them through the purchase process.

Illinois residents began reporting problems with their cards — known as LINK in that state — on Saturday morning, said Januari Smith, spokeswoman for the Illinois Department of Human Services.

Smith said that typically when the cards aren’t working retailers can call a backup phone number to find out how much money a customer has available in their account. But that information also was unavailable because of the outage, so customers weren’t able to use their cards.

“It really is a bad situation but they are working to get it fixed as soon as possible,” Smith said. “We hope it will be back up later today.”

In Clarksdale, Miss. — one of the poorest parts of one of the poorest states in the nation — cashier Eliza Shook said dozens of customers at Corner Grocery had to put back groceries when the cards failed Saturday because they couldn’t afford to pay for the food. After several hours, she put a sign on the front door to tell people about the problem.

“It’s been terrible,” Shook said in a phone interview. “It’s just been some angry folks. That’s what a lot of folks depend on.”

Mississippi Department of Human Services director Rickey Berry confirmed that Xerox, the state’s EBT vendor, had computer problems. He said he had been told by midafternoon that the problems were being fixed.

“I know there are a lot of mad people,” Berry said.

Sheree Powell, a spokeswoman for the Oklahoma Department of Human Services, started receiving calls around 11:30 a.m. about problems with the state’s card systems. More than 600,000 Oklahomans receive SNAP benefits, and money is dispersed to the cards on the first, fifth and 10th days of every month, so the disruption came at what is typically a high-use time for the cards.

Oklahoma also runs a separate debit card system for other state benefits like unemployment payments. Those cards can be used at ATMs to withdraw cash. Powell said Xerox administers both the EBT and debit card systems, and they both were down initially.

Like Ohio’s Johnson, Powell said that Oklahoma’s cash debit card system has since been restored, but the EBT cards for the SNAP program were still down. Powell said Oklahoma’s Xerox representative told them that the problems stemmed from a power failure at a data center, and power had been restored quickly.

“It just takes a while to reboot these systems,” she said, adding that she did not know where the data center was located.

Powell said that some grocery store cashiers had been speculating that the federal government’s shutdown caused the problem, but state officials have been assured that that is not the case.

“We are hopeful it will be up this afternoon but we were not given a specific time frame,” she said.

David Akerly, a spokesman for Michigan’s Department of Human Services, also confirmed that residents in his state have reported problems using their cards.

source

Reminder: Power Grid Down Drill To Be Conducted By US Government

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Power grid vulnerabilities are finally garnering some attention by government officials.

An electrical grid joint drill simulation is being planned in the United States, Canada and Mexico. Thousands of utility workers, FBI agents, anti-terrorism experts, governmental agencies, and more than 150 private businesses are involved in the November power grid drill.

The downed power grid simulation will reportedly focus on both physical and cyber attacks. The antiquated electrical system in the United States has been one of the most neglected pieces of integral infrastructure.

The EMP Commission, created by Congress, released a report in 2008 calling for increased planning and testing, and a stockpiling of needed repair items.

The SHIELD Act, which is stalled in Congress, is the first serious piece of legislation in many years to attempt to address the vulnerabilities of the power grid in. As previously reported by Off The Grid News, a recent American Society of Civil Engineers (ASCE) report gave the power grid a “D+” when grading various pieces of infrastructure and public services in the United States.

The disaster drill is being described as a crisis practice unlike anything the real power grid has ever experienced. The GridEX II drill Nov. 13-14 will focus primarily on how governments will react if the electrical grid fails and, for instance, the food supply chain collapses.

American utility companies are responsible for running approximately 5,800 power plants and about 450,000 high-voltage transmission lines, controlled by various devices which have been put into place over the past decades. Some of the utility companies which oversee the power grid reportedly use “antique computer protocols” which are “probably” safe from cyber hackers,” The New York Times reported.

The Times said experts call the power grid the nation’s “glass jaw.” Even the military gets 99 percent of its power the same way everyday citizens get it – from commercially run companies.

Harness the power of the sun when the power goes out…

“If an adversary lands a knockout blow, [experts] fear, it could black out vast areas of the continent for weeks; interrupt supplies of water, gasoline, diesel fuel and fresh food; shut down communications; and create disruptions of a scale that was only hinted at by Hurricane Sandy and the attacks of Sept. 11,” The Times said.

Former Federal Energy Regulatory Commission chairman Curt Hebert stated that if the nation fails at electricity, “we’re going to fail miserably” at everything else.

Hebert also noted that during prior power grid drills, the scenario assumed the system would be up and running again relatively quickly after an attack. This drill will assume it’s out much longer.

If the power grid fails, a lack of electricity and food delivery are only the first wave of troubles facing the American people. Police could face major problems with civil unrest. Of course, there also would not be any electric heating or cooling, which easily could lead to many deaths depending on the season.

A 2012 report by the National Academy of Science said terrorists could cripple the nation by damaging or destroying hard-to-replace components, some of which aren’t even made in the United States.

“Of particular concern are giant custom-built transformers that increase the voltage of electricity to levels suited for bulk transmission and then reduce voltage for distribution to customers,” The Times said in a summary of the report. “… Replacing them can take many months.”

Said Clark W. Gellings, a researcher at the Electric Power Research Institute, “I don’t think we pay quite enough attention to the technology fixes that would allow us to make the power system more resilient.”

Source

At this same date we have an event to watch for from a source that I cannot verify because of the government shutdown I cannot visit NASA’s web page. Please visit this link, there is a countdown to an undescribed event that they say will “shake the entire planet”, that they want us to watch for supposedly from NASA. This event was originally made for November 13th, but they now are saying to watch for some kind of announcement from the media on October the 6th.

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http://www.rememberthe13th.com/