Tuesday, March 25, 2014

Here's why April 1 is IMPORTANT

Here's why April 1 is IMPORTANT
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lol..lol...BYE..BYE..BANKSTERS...NOW I SEE WHAT APRIL 1 IS THE TARGET DATE >>>>If you were wondering why the Big Banks were fighting so hard against The Volcker Rule over the past 5 years you are about to find out. As of Tuesday, April 1, 2014, the rule goes into effect.
OCC: Volcker Rule: Final Regulations
http://www.occ.gov/news-issuances/bulletins/2014/bulletin-2014-9.html
Highlights The final regulations
prohibit banks from engaging in short-term proprietary trading of certain securities, derivatives commodity futures, and options on these instruments for their own accounts.
impose limits on banks' investments in, and other relationships with, hedge funds and private equity funds.
provide exemptions for certain activities, including market making-related activities, underwriting, risk-mitigating hedging, trading in government obligations, insurance company activities, and organizing and offering hedge funds and private equity funds.
clarify that certain activities are not prohibited, including acting as agent, broker, or custodian.
scale compliance requirements based on the size of the bank and the scope of the activities. Larger banks are required to establish detailed compliance programs and their chief executive officers must attest to the OCC that the bank's programs are reasonably designed to achieve compliance with the final regulations. Smaller banks engaged in modest activities are subject to a simplified compliance program.
END
*Note: The banks don't have to be fully compliant until July 2015 so expect a wild shakeout between now and then as they try to rid themselves of TRILLIONS of DOLLARS worth of non-compliant derivatives. It won't take that long as big banks have a tendency to EAT THEIR OWN when it comes to their own survival!
So what do all these restriction do?
Well, history has shown that you can't have an unbacked fiat monetary system without controlling the prices of some key commodities and monetary instruments. Gold, silver, oil and the USD are the main ones. That's where market rigging with computers and derivatives came into play in the 1970's. That is why the top 5 banks (JPM, Citi, BofA, Goldman & Morgan Stanley) hold over $295 TRILLION in derivatives! It is the ONLY reason that the unbacked system is still viable. This unbacked system has lasted over 40 years after breaking all ties with gold...an unprecedented record in monetary history and only made possible by the computer market rigging programs written in the 1960's by Alan Greenspan.
Ultimately, the game must end as it was always the plan to run the unbacked system as long and hard as possible before returning to a true Gold Standard.
That time has come.
May the Road you choose be the Right Road.
Bix Weir

The final regulations to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, known as the Volcker Rule, were published in the Federal Register on January 31, 2014, and become effective on April 1, 2014.
OCC.GOV
Bix Weir

5 comments:

Anonymous said...

As far as I know the un-federal reserve still runs the banking system, Washington DC, and our lives.

Greenspan said years ago that no one has more power than the federal reserve. No one tells them
what to do.

You can have all the laws you want but they don't apply to the federal reserve because they are
above the law.

Has this magically changed ?

Anonymous said...

Important date but how much will change. The exemptions to the new law seem to make it easier for bigger banks and harder for smaller. What will really change?

Anonymous said...

Hi John,
Thought this might be of interest to your readers.

WASHINGTON, March 24 -- The International Monetary Fund issued the following news release:

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement at the end of her three-day visit to China:

"It has been a great pleasure to be back in China. I had the privilege of meeting with Premier Li Keqiang and Vice Premier Ma Kai. I had very productive discussions with the People's Bank of China Governor Zhou Xiaochuan and Finance Minister Lou Jiwei.

"In my meetings with the authorities, we exchanged views on the global economy, the next phase of China's development, and China's increasingly important leadership role at the IMF. As the world's second largest economy, China has played an important part in helping to stabilize the global economy during the financial crisis. Going forward, China will continue to be a key driver of the global recovery.

"I am deeply impressed and encouraged by the strong commitment of the Chinese authorities to continue the ongoing rebalancing of the economy and to make growth more inclusive, friendlier to the environment, and more sustainable, as outlined in the 3rd Plenum Decision. To tackle challenges facing the next phase of the economic transformation, China needs to comprehensively deepen reforms. Unleashing the potential of the services sector, building a modern financial sector, and promoting inclusive growth, combined with pro-green policies, will help ensure that China achieves such a transformation.

"During my visit I was honored to speak at the 2014 China Development Forum where I met with Vice Premier Zhang Gaoli and other senior policymakers, academics, women leaders and private sector representatives on major issues facing the world and China. Topics included reform of financial systems and moving towards more sustainable growth, building better social safety nets, and empowering women.

"I was also encouraged by the creativity, dynamism, and optimism of the Chinese women, youth, entrepreneurs and "netizens" with whom I met over the past three days, including through a live chat on Sina Weibo and at Tsinghua University where I was privileged to exchange views with faculty and students.

"I would like to express my profound gratitude to the Chinese government and people for their gracious hospitality. I look forward to my next visit in the near future."

TNS 30BautistaJude-140325-4677757 30BautistaJude

Ray said...

Yellen just said the same not long ago

Anonymous said...

global economy , global recovery,abundance.