Here's why April 1 is IMPORTANT

Here's why April 1 is IMPORTANT	Reply Quote   Printer Friendly
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. Greenspan's Golden Secret http://www.roadtoroota.com/public/190.cfm 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 OCC: Volcker Rule: Final Regulations 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