Bank Holiday Rumors Swirl Amidst Currency Crisis

(www.prisonplanet.com/bank-holiday-rumors-swirl-amidst-currency-crisis.html)
November 5, 2010
Paul Joseph Watson, Prison Planet.com
With the world on the verge of a currency war as the Federal Reserve follows through on its
dollar-killing quantitative easing program, rumors are once again swirling of a “bank holiday,”
during which US citizens will be prevented from withdrawing money or at least limited in the
amount of the withdrawal they can make. The bank holiday is rumored to be set for next week,
with Thursday November 11 pinpointed as the likeliest date.
According to radio host Steve Quayle 1, a pastor was told by one of the managers of a
prominent east coast bank that banks would close for an undetermined amount of time, and that
when they reopened, “all withdrawals by checks would be limited to $500 per week – no matter
what the balance in the account is.”
Limiting the amount of money customers can withdraw or blocking the facility altogether
reminds us of a Citigroup advisory that was sent to customers at the start of the year
(www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html)
which stated that the bank reserved “the right to require (7) days advance notice before
permitting a withdrawal from all checking accounts.” The story stoked fears that financial
institutions were preparing for bank runs. On his website, Quayle asks, “When in U.S. History
has a sitting President taken off on an overseas trip for an extended period of time, with 65
airplanes, 34 warships reportedly 3,000 people including his friends and cohorts, at the
pinnacle of an economic and political upheaval?”
Fears of a bank holiday first arose in June of last year (www.prisonplanet.com/bankster-
%E2%80%9Choliday%E2%80%9D-planned-for-september.html), when it was rumored that
banks would close their doors in early September. Concern was fueled by reports that US
embassies in foreign countries were purchasing large quantities
(www.prisonplanet.com/foreign-embassies-urged-to-stockpile-local-currencies.html) of local
currency.
With Brazil and other countries now threatening to take drastic currency measures
(www.ft.com/cms/s/326a6d62-e83d-11df-8995-00144feab49a,Authorised=false.html?
_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F326a6d62-e83d-11df-8995-
00144feab49a.html&_i_referer=#axzz14PIO5aKd) to protect themselves against a dollar crisis,
a similar financial environment is stoking identical fears.
Bank holidays are not without precedent in the United States. On March 5 1933, newly elected
Franklin Roosevelt declared a “bank holiday” (delmardustpan.blogspot.com/2008/03/1933-
bank-holiday.html) that lasted four days, during which he rammed through the Emergency
Banking Act which granted FDR near dictatorial control over the dealings of banks. The Act
also forced every citizen and business in the country to relinquish their gold in exchange for
paper currency.
 Page 2 of 3
Bank Holiday Rumors Swirl Amidst Currency Crisis (Cont’d.)
The 1933 bank holiday served as a face-saving mechanism for many financial institutions –
thousands of them never reopened after the closure period had ended.
While we expect it to be business as usual next week and the rumors to subside as they did last
year, the mere fact that this fear keeps cropping up shows how jittery the economic landscape is
right now.
Indeed, the debate is no longer about whether the US financial system and the dollar will come
crashing down or not, but if that inevitable process will be characterized as a sudden collapse or
death by a thousand cuts. The latter seems to be more likely, with a few lurches and leaps along
the way, the first of which was Ben Bernanke’s announcement on Tuesday that the Fed will buy
$600 billion of U.S. government bonds over the next eight months.
The blame for this turmoil can be laid firmly at the feet of Bernanke, acting at the behest of the
Fed’s owners, who having promised in June last year that they would not monetize the
debt (theeconomiccollapseblog.com/archives/caught-in-a-lie-bernanke-promised-congress-the-
federal-reserve-would-not-monetize-the-debt-but-now-that-is-exactly-what-is-happening) of the
U.S. government have now embarked upon a “mad experiment” that will precipitate “the
collapse of the US dollar paper standard,” as CLSA’s Chris Wood describes it
(www.zerohedge.com/article/clsas-chris-wood-says-bernanke-will-continue-mad-experiment-
until-he-kills-us-dollar-paper-s).
As the Honorable Louis McFadden, Chairman of the House Banking and Currency Committee,
warned in 1933, the Fed does not care that it is killing the dollar because its role is to represent
the interests of its international owners and its Wall Street cronies, not the American people.
“Some people think that the Federal Reserve Banks are United States Government institutions.
They are private monopolies which prey upon the people of these United States for the benefit
of themselves and their foreign customers; foreign and domestic speculators and swindlers; and
rich and predatory money lenders,” said McFadden.
So while the happy clappers on Wall Street are drunkenly celebrating the fact that their
artificially inflated stock market is surging solely as a result of the value of the dollar being
eviscerated, Main Street is hunkering down for a long winter, beset by worries about
hyperinflation, rising food prices and gas price hikes
(endoftheamericandream.com/archives/the-price-of-oil-is-going-up-the-price-of-food-is-going-
up-and-now-here-comes-quantitative-easing), as oil follows gold’s meteoric rise, again solely as
a result of the Fed’s decision to debase the greenback.
Financial upheaval has been matched by political upheaval, and we can only hope that
Congressman Ron Paul and his son, Senator in waiting Rand Paul, can build momentum to
finally cut out the cancer that is destroying America – by ending the Fed for good.
1 – Warning of Possible Bank Holiday - Steve Quayle
(stevequayle.com/News.alert/10_Money/101104.bank.holiday.Steve.html) November 4, 2010
QUESTION: When in U.S. History has a sitting President taken off on an overseas trip for an
 Bank Holiday Rumors Swirl Amidst Currency Crisis (Cont’d.) Page 3 of 3
extended period of time, with 65 airplanes, 34 warships reportedly 3,000 people including his
friends and cohorts, at the pinnacle of an economic and political upheaval.
ANSWER: Never!
So what's up? Yesterday I received a call that should alarm for even the most "comatose in La
La Land". A pastor known to the gentleman who called me had been called into a very
prominent East Coast bank to tell the pastor by one of its top people at the bank that a bank
holiday is coming as early as Nov 11.
The bank official has been friends with this pastor for a long time. The only thing that was said,
was for the pastor to realize that once the banks reopened, that all withdrawals by checks would
be limited to $500 per week - no matter what the balance in the account is. No period of Time
for the length of the Banks closures were given. Coupled with information posted last year on
this site from major Mid-west banking consortium it dovetails perfectly.
Ladies and Gentlemen, if you have been paying attention to France, Britain, Ireland and Greece,
which at this point are the poster children for financial rioting, can you even begin to imagine
the Ramifications of Financial Rioting In the U.S? The once hidden attack, now in plain sight,
against world finances, is in full scale operational mode in order to destroy by design, all
national currencies and to bring on "A ONE WORLD CURRENCY AND GLOBAL
GOVERNMENT"!
Once again consider our mutual dependence upon electronic verification of every sales
transaction, credit card purchase and bank deposits and or withdrawals. Whether most
understand or comprehend, most wealth on financial statements and Balance sheets are
numbers, computer entries and IOU's of dubious quality. Think about the old adage
--"Possession is Nine Tenths of the Law". In other words, if it's not in your hands it's in some
one else's hands no matter how much you try and rationalize it away!
This is a defining moment. AMERICA IS BANKRUPT and the rest of the world is no longer
willing to go along with Quantitative Easing, which means printing money out of thin air with
nothing to back it up but global war. Every nation that has tried to print its way out of an
insurmountable debt situation ends up embroiled in internal war and usually under the
leadership of a dictator who is as willing to spill the blood of his countrymen, as fast as he
prints more worthless currency!
The reason you all have a sense of SOMETHING BIG getting ready to happen is the fact
that it is HAPPENING NOW.
When all commerce ceases, no goods are on the store shelves and all transportation comes
to a silent stop. Then will it be clear, even to those who finally get it, that the only ones who
will be eating, other than those who have prepared, are the zombies, and none of us want to end
up on their evening menu!