I have written on several occasions that we all should keep a couple of months of cash in our physical possession because of the possibility of a banking holiday (don’tcha just love the terminology of weasels) to prevent people from running the banks to get their money out. I have also said many times that the second shoe on Depression2 has to drop early in 2010. What we have seen so far is the markets being artificially manipulated and many main stream analysts are now speaking openly about these obvious manipulations. In my last few articles I have laid out the fundamentals of why it continues to look very grim and is likely to worsen. MSM is totally complicit in not informing you of the truth and so it falls to nutso guys like me to make a feeble attempt to warn you. It is Monday morning 22 February and you probably aren’t even awake yet. Sorry about that, but I am compelled to lay a few things out as it is now almost certain that we are only a few days from the start of Big Wave 2 down in the markets. Today, I expect to see the markets move upwards 20-50 points and push the 10600 mark later this week, but this is the crest of the wave that crashes ashore. There are a whole slew of technical market reasons for this prediction. With the sentiment reaching the ugly point, any major drop like to the 6500 level or below will create a mass panic. But I believe we are going to do exactly that, PANIC. There may be a number of events that converge to start it, but it is definitely in the cards within the next 30-60 days.
It seems the boys over at Citigroup know it is a fact because this is what they did late last week:
Sunday, February 21, 2010
The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days.
“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change,” Citigroup said on statements received by customers all over the country.
Folks, How obvious must it become to you! Notice the date of effectiveness, April Fool’s Day. You see that is exactly what they think we are, fools. These guys are telling you 30 days in advance that they have the right to deny you access to YOUR money! Who the hell gave them that right. Is it in any banking regulations? OH, there are NO banking regulations! I would suggest to the customers of Citigroup that they inform Citigroup by their actions, that they reserve the right to withdraw all of their money BEFORE April 1st. I am really a very conservative moderate person, but I am beginning to boil over such audacity. I guess I am becoming a reluctant rebel in spite of my firm believe we should have governmental systems in place to prevent such bold acts by criminals and we should trust those we have elected and those who were hired into federal agencies to prevent acts such as these. But alas, silence and no actions or presence in MSM is seen.
In this case, however, I hope the few readers I have help make this article go viral on the internet! It appears we have 30 days or so to make it happen. If nothing else, it would send a message loud and clear to these arrogant knuckleheads that even though they own Congress and the Regulators, they do not own us! Let’s see if we can get 30-40% of all Citigroup customers to withdraw their monies and open accounts with small local banks and credit unions. That percentage alone would really send a strong message. We are not helpless. We are not without power in numbers. What do you say, let’s give it a shot. Just send this article to everyone you know and ask them to do the same. Let’s see how far we can spread this thing in 30 days. I would appreciate any comments or suggestions you may have to make this happen.