The Destruction of the Middle Class is Nearing the Final Stages

By: Tom Chatham

The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed.

At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that money if a banking crisis takes down the bank.

The spending bill just passed by congress makes the American taxpayer responsible for any derivatives loses that banks may suffer. These derivative holders now have first priority when any funds are paid out and depositors are relegated to last place. FDIC insurance will have to pay out these funds but it has no where near enough money to pay the more than 300 trillion in losses that will be suffered in a banking crisis. That means any depositor has little hope of getting anything back. In order for depositors to get anything back massive money printing would have to take place making any payout amount to only pennies on the dollar.

And if you don’t think there is any danger of a banking crisis in America you may want to keep in mind that the Treasury Dept. has recently ordered $200k worth of 72 hr emergency kits for dispersion to every major bank in America. These are known by many as bug-out-bags and are used to support individuals when disaster strikes and they have to care for themselves for the first few days of crisis.

New legislation now gives pension plans the ability to cut benefits to pensioners in the future making the future welfare of these people uncertain. They say it is necessary to prevent these funds from going bankrupt. It will “apply to multi-employer pensions, where a group of businesses in the same industry join forces with unions to provide pension coverage for employees. The plans cover some 10 million U.S. workers,” You may be happy to know this will not affect congressional pensions, as long as they are funded by the taxpayers.

The sanctions being placed on Russia are beginning to destabilize the world in many ways. The sudden drop in oil prices will send ripples through many foreign nations and cause an already tense situation to become highly flammable. It seems this is what is wanted to provoke a new world war and hide the complicity of bankers and politicians in the coming destruction of the economy.

For the past few years those elite with knowledge of the coming monetary destruction have been putting their fiat dollars into any hard assets they can find. The recent record prices paid at auction for collectables is just one more indication that those in the know are moving into hard assets as fast as they can to preserve their wealth.

This diversification includes precious metals and land as well. I believe when there are no more metals or suitable properties available for purchase, these entities in control of this game will pull the plug and let everything collapse. Those holding fiat paper, electrons or other paper promises will be devastated as those assets evaporate into thin air.

You may feel some security knowing you have a good job but among the deposits that disappear will be billions in commercial accounts that belong to businesses. When these businesses lose this money, many will likely close destroying many jobs in the process. This will send ripples through the transportation, production and distribution system when it happens. In an economy made up of 70% consumer spending, this will be fast and devastating to those with few resources to fall back on when it happens.

There are three lessons that many people will learn in the coming months. If you do not have it already you may not be able to get it. If you do not have it physically in your hands you do not own it. If you cannot protect it you will not have it for long.

Advertisements

Posted on December 17, 2014, in Economics, Preparedness and tagged , , . Bookmark the permalink. 28 Comments.

  1. I have heard this same thing for several decades by financial newsletters, talk radio, etc. People that have a business cannot pull money out of the bank, as payroll and getting supplies and product are constant. Retirees have direct deposit and CD’s, etc money that goes to their heirs someday. Fractional reserve banking has been around for many decades and yet nothing has happened. This whole thing is scary and when it happens the country will collapse. This prediction has been ongoing for a long time.

  2. Mr. Chatham,

    Can you provide some links or documentation about the G20 and derivatives points in your article? I would like to do more research on these two particular subjects. Thanks for making folks aware of these things.

  3. Reblogged this on Électrodes and commented:
    Bail-ins’ in the air, etc. ” If you do not have it already you may not be able to get it. If you do not have it physically in your hands you do not own it. If you cannot protect it you will not have it for long. “

  4. Reblogged this on wchildblog and commented:
    There are three lessons that many people will learn in the coming months. If you do not have it already you may not be able to get it. If you do not have it physically in your hands you do not own it. If you cannot protect it you will not have it for long.

  5. Reblogged this on Centinel2012 and commented:
    Like Tom I agree that Obama’s goal is the destruction of America I see this because I was trained to be able to take down a government by the US Military since I was a Green Beret Officer and that was our original mission back in the day!

  6. Anglo-American Axis Wages Financial/Economic War Against Russia!
    http://cosmicconvergence.org/?p=8470

  7. so what is to keep them from stealing those hard assets you have? your house, cars, personal assets like gems and gold and silver? or take you by force to fema work camps? in lieu of fraudlent debts they have put on our backs? debts that they keep adding fake interest too by the 100s percentages? I hope they dont take my soul they can have my stuff but leave me alone!!

  8. Obama is the latest salesman-in-chief. A half-Jew, half-negro bisexual, and a tactical choice. A “minority” was chosen to implement the death blows for white America and whites everywhere. A white president wouldn’t get away with this.

    Bush Jr. was the warmup.

    Read the Protocols of the Learned Elders of Zion.

    “Sharia law” is a red herring by the Jew media. Whites have been terrorized and dissolved by Jew law since 1945. This is a race war. My old neighborhood was destroyed by negroes whom “desegregation” turned loose on us.

    David
    Baltimore, Md.

  1. Pingback: The Destruction of the Middle Class is Nearing the Final Stages - The Daily Coin

  2. Pingback: "The Biggest Redistribution Of Wealth From The Middle Class And Poor To The Rich Ever - Page 3

  3. Pingback: The Destruction Of The Middle Class Is Nearing The Final Stages | ZombieMarkets

  4. Pingback: The Destruction Of The Middle Class Is Nearing The Final Stages | DailyDeceit

  5. Pingback: The Destruction Of The Middle Class Is Nearing The Final Stages | Golden Gate Daily

  6. Pingback: Wednesday Morning Links | timiacono.com

  7. Pingback: The Destruction of the Middle Class is Nearing the Final Stages « Financial Survival Network

  8. Pingback: » The Destruction of the Middle Class is Nearing the Final Stages | project chesapeake Olduvai.ca

  9. Pingback: The Destruction Of The Middle Class Is Nearing The Final Stages | From the Trenches World Report

  10. Pingback: Why Don’t Millennials Want Nice Houses Like Jim Messina’s? | 4&20 blackbirds

  11. Pingback: Lexington Libertarian | Obama’s US Transformation Is Destruction Of The Middle Class And Payback Retribution For Western Colonialism

  12. Pingback: *WARNING!* THE ANNIHILATION OF THE MIDDLE CLASS IS NEARING THE FINAL STAGES! |

  13. Pingback: News Feed

  14. Pingback: The Destruction Of The Middle Class Is Nearing The Final Stages - Patriot Rising

  15. Pingback: The Destruction Of The Middle Class Is Nearing The Final Stages

  16. Pingback: A Word to the Wise… | Fig Trees and Vineyards

  17. Pingback: La destrucción de la clase media se acerca a sus etapas finales | Tribuna Hispana USA

  18. Pingback: The destruction of the middle class is nearing the final stages

%d bloggers like this: