Bank Bailout Program: Larcenous Tyranny

Amidst much celebrating of the coming of the year of our Lord Jesus Christ 2014, one usual activity has been to review the past year, its accomplishments, as well as its disasters, and many of its notable events. One event that took place in 2013 which received little attention at the time and certainly has been well hidden in the shadows of any review of 2013 is the regulations that implemented the greatest bank robbery in the history of the world, and an extremely unusual bank robbery, because it is a reverse robbery.

We generally have the image of bank robberies from old Westerns. The bad guys ride into town with black hats. They enter the bank and hold up the tellers forcing them too empty the vault into the hands of the black hats. They ride out of town as the Sheriff raises the posse of citizens (many of whom by the way are depositors at that bank, whose money therefore was robbed by the black hats). That posse, led by the Sheriff, rides hard after the Black Hats, surrounds them, out numbering them, so that the Black Hats surrender to the law. The money is restored to the bank, the Black Hats are behind bars and peace, justice and prosperity return to that Western town. That’s the way it ought to be.

What happened this past July was a reversal of that story. The Black Hats do not ride into town, they are already the owners and high-level employees of that bank. They rob the depositors to their own bank without using a gun at all; just using the Dodd Frank Basel III regulations enacted July 2, 2013.

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Title II of Dodd-Frank establishes an “Orderly Liquidation Authority” – a U.S. bank bail-in program patterned after Cyprus’ action. You may remember that the European Union confiscated as much as they wanted and for the remainder of deposits at those bank gave the depositors nearly worthless bank stocks. Instead of repeating the widely unpopular bank bailouts of 2008 and 2009, Dodd-Frank authorizes the Federal Deposit Insurance Corporation to recapitalize failed financial institutions by confiscating customers’ deposits.

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U.S. bank depositors, as did recent examples in Cyprus and Spain illustrate, stand to lose up to 70% of their deposits when these regulations take effect. A reverse bank robbery has taken place, and where is the Sheriff and his posse? The “Law,” so called, stands on the side of the Black Hatted robbers, against the poor citizens who were duped into depositing their hard earned money in a bank which has become part of the Larcenous Tyranny that was established July 2013.

A crucial clarification of what constitutes a bank creditor was made in a March 28, 2013 review of the BOE-FDIC paper by chairwoman of the Public Banking Institute, Ellen Brown. In the course of explaining why the bail-in, confiscation of 40% of unsecured deposits in Cyprus was not a one-time event, she clarifies: “Although few depositors realize it, legally the banks owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay.”

The expatriate community of American’s around the world have discovered just how far the greedy reach of the federal government extends. The billionaire co-founder of Facebook, in addition to the only American member of Monty Python, a Civil Rights Leader with a PhD from Harvard, the founder of Carnival Cruise Lines and owner of the Miami Heat NBA franchise, and arguably the best chess mind to ever live have more in common than you might think. What do these five and thousands of U.S. citizens living abroad have in common? The answer is they have all renounced their U.S. citizenship. These people are not alone, record numbers of U.S. citizens living in Canada and across the world are in the process of renouncing. Why would a country with a seven to ten year wait list to acquire citizenship have so many citizens headed for the exit? The reason is larcenous tyranny, a civil government like Pharaoh intending on stealing it all.

What’s the connection between Pharaoh and the reverse bank robbery going on in America as a result of the Dodd Frank Act? Pharaoh had his heart set on robbing the Children of Israel of all their wealth. He intended to expropriate their property making it his own. He wasn’t satisfied that he had enslaved them and took all the fruit of their labor for 400 years. His greedy and insatiable heart wanted more. He wanted all their accumulated wealth; and that, by the way, is exactly what has taken place with the Larcenous Tyranny running our country. Will you join in bringing an end to this larcenous tyranny?

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