Low Gas Prices to be Followed by a Bank Bail-In?

In a recent Edgar Allen Beem opinion from The Forecaster, Beem admits enjoying the low cost of gas, but knows he's living in a Fool's Paradise. At the beginning of the piece, one of Beem's questions was when will Obama get the credit for the low prices? (and Beem answered never). While the Keystone tar sands pipe should be vetoed because of its environmental impact, lack of necessity, and benefits for big money corporations' self-serving interests, considering Obama should be given credit for low gas prices is too simplistic. Although Beem's op-ed made for interesting comments following the article, the big picture is missing and what's going on is not a bi-partisan issue.  (The Universal Notebook: Veto the Keystone Frack Pipe ).

The low gas prices are not for our personal benefit nor to boost the U.S. economy. We're reaping a short-term side-effect. The collapse in the price of oil is largely due to geopolitical warfare against Russia and Iran (Ellen Brown/The Corbett Report). This is how governments roll; our relief at paying lower prices at the gas pumps may be short-lived and we'll all pay more down the road. Much more.

Similar to the local papers' lack of substantive and investigative journalism, mainstream media isn't highlighting anything concerning last November's G20 Summit, nor the recent decoupling of the Swiss Franc from the Euro, resulting in the Euro's collapse. If the majority of people were informed, there'd be an uproar, and the big banks may lose a chance at a well-planned "Bank Bail-In". Yes, not a "Bank Bail-out", but a bail-in; but it all comes down to the same thing. The banks are given a green light to take people's money.

Backing up a bit, here's some information about G20. The Group of Twenty (G20) is a comprised of 20 major, advanced and emerging economies [Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK, U.S. and the EU nations (28 member states, which includes some of the G20 already mentioned)]. After the Asian financial crisis, a G7 (Cologne Summit) started a meeting, in 1999, of finance ministries and central bank governors. By 2008, a G20 leader's summit was held to deal with the global financial crisis, and become the world's primary forum for global economic cooperation and decision making. What started simply as advisory boards changed to become global control through regulations by the Financial Stability Board (FSB).

The next G20 Summit meeting will be held in Turkey (2015 Antalya Summit), November 15-16, 2015. The Summit focus includes, but isn't limited to (Turkey's 2015 G20 Priorities):

• "...developing more efficient Public-Private-Partnership (PPP) models will be ...targets...",
• International Tax System,
• Climate Change Finance (improve collaboration, dialogue, and cooperation between the climate funds),
• "...for a number of work streams within the G20 including financial regulation, international tax, and international financial architecture, words have played their part. 2015 will be the time for the deeds and the year of implementation (G20's emphasis, not mine)." 

G20 Engagement groups are listed as:  Business-20, Think-20, Civil-20, Labor-20, and Youth-20 (http://www.g200youthforum.org/ ).

Therefore, it appears the U.S. citizens are being mandated among other things, to pay international taxes to support private businesses (globally), including contributions to green global private businesses, and whatever decisions made by G20, including FSB's financial regulations in the U.S. banking system accepted on our behalf by President Obama.

Moreover, as a result of the G20 summit this past November 2014, new G20 rules have been put into place. It's my understanding that there are 5 big derivatives banks holding over $50 trillion in oil derivatives, which oil producers buy to protect their price they're betting on.The Omnibus Budget Act will cover 5% of the derivatives loss, which Ellen Brown (http://ellenbrown.com/ ) says doesn't sound like much, but it's about $14 trillion.

Taxpayers will bail out banks again, except it's called a bail-in. Ellen Brown explains shareholders, bondholders, and depositors of banks will lose money; depositors first, because they're the largest segment. In the U.S. any deposit amounts over the $250,000 FDIC insured will be taken; these are usually local businesses which need larger deposits to cover cash flow and payrolls (in Europe the insurance is 100,000 Euros). Pension funds are usually connected to the bonds, so that'll be the next hit. If the FDIC insurance doesn't have enough money it can borrow from a $500 billion line of credit with the Treasury, but that has to be paid back - by the taxpayers.

Wonder where these ideas come from - that it's all free money because it's "other people's money" (Mr. Poppycock)? When we look closer to home, there are examples in Brunswick. Starting with the now defunct Brunswick Economic Development Corporation (BEDC), that began with taxpayers' money [and few even questioned the board members involved nor asked if there were possible conflicts of interest. Did any of the materials from taxpayer funded projects end up as "contributions" to someone's house(s)]? The taxpayers became a "bank" and a big sucker.

The BEDC morphed into the BDC, and a former town councilor gets a "forgiveable loan" of about a quarter of a million dollars for her taxi business. Interestingly, many have yet to find any bank offering a forgiveable loan/gift. Another example is former town councilor, Gerald Favreau, thinking it was a great idea to give a private business public money to build a road. If there's no astroturfing connections, then perhaps it's part of The Deliberate Dumbing Down of America we see manifested.

Remember the saying about a pool of money ("Folks This Ain't Right" Jan. 17, 2015)? There are takers and cons at all levels, but the sharks keep getting bigger, and the stakes higher. Is it too late to stop the momentum now?