Easter 2013: The Crucifiction of Money

Off the keyboard of RE

Published on the Doomstead Diner March 31, 2013

Discuss this article at the Economics Table inside the Diner

Easter Sunday 2013, and as usual the Dominoes are Toppling all over the world economically and geopolitically, as a portion of the world population celebrates the Life-Death-Life-Death of a Carpenter-Preacher who claimed to be 1/3 of God.

Inside the Diner as usual also, the debate goes on about the Validity of these claims and what the Significance of them are. From my POV, with so much shit currently ongoing with a MUCH more direct impact on our further Earthly Existence, whether or not JC was 1/3rd of God or not is not a major concern. That is just me though, and does not reflect the Group Think of the Diner. LOL.

Let me go to my major concern of the day, the ongoing Redefinition of what it means to be a Bank Depositor. Most people believe that a Bank is place that Holds Your Money, keeps it Safe from Thieves and you can go get it anytime the Bank is Open and you have your ID with you to prove you are the Owner of said Money. Sorry, no.

The NEW definition of a Bank Depositor is as an UNSECURED CREDITOR of the Bank! When you make a deposit, you are LOANING your money to the bank, and the Bankster now owns it and is free to Gamble it in any way he sees fit. If he loses the money, since you are Unsecured, any assets the bank might still have go FIRST to Senior Bondholders, they get to Divy up the Carcass, the Depositor is left with BUPKIS.

Now, this is hardly the first time in History a Banking System has crashed, in fact it happens at VERY regular intervals in the 80 year Nabe. Every time though, the same folks Reboot, claim to Own Everything they Repoed in the Crash and start Loaning out money AGAIN based on the Assets they Claim to Own. If you want access to any of those Assets, you gotta Borrow the New Money from them, pay interest on it and get taxed on it, try to Save it until the NEXT crash when POOF Up in Smoke it goes again, Rinse and Repeat.

Last time this occurred in the Great Depression, to “Restore Faith” in the Bankstering System, they came up with the Marvelous Gimmick of Goobermint INSURANCE of Bank Deposits! Known here in the FSoA as FDIC. In this farce, supposedly if your Bank goes Belly Up, Da Goobermint will make good on your Deposit up to some nominal figure, 100K has been the common amount chosen for this, though with Inflation in some places it was upped to 250K.

While such Insurance can sorta work in the case of Individual Bank Failures, it can’t work in a systemic Banking Collapse, especially when Da Goobermints doing the Insuring themselves are BK. They don’t HAVE the money to “make good”, and no they can’t just print it either. Why not?

Well first off because NONE of Da Goobermints INCLUDING the FSoA owns the money based on the World Reserve Currency of the Dollar. The Banking Syndicate owns this money and they’ll only Print It in return for Bonds issued by the respective Goobermints, and they’ll only buy those Bonds with Freshly Printed currency of one color or another if they think they can extract further Wealth and Profit out of a given country. Once you look like a Bad Bet as a country, you can’t sell your Bonds, unless yet ANOTHER supra-national agency guarantees them, read that the Troika in the case of Eurotrashland.

The Troika over in Europe and Da Fed here are ALSO insolvent entities, but they are Last Up the Line until the Ferengi Interstellar Freighters loaded with Gold Pressed Latinum show up and the Vulcans arrive to share their Matter-Antimatter Energy system powered by Dilithium Crystals stolen from the Klingons and Romulans. LOL.

Political Pressures abound on both Da Fed and the Troika, but neither is currently engaged in Naked Printing, they are still just buying Bonds from the few countries they consider good bets to extract more wealth from, aka the FSoA and Germany mostly. Said countries have to keep issuing out more debt to support the collapsed debt already everywhere else. The more peripheral countries sucked into this Black Hole of Debt, the bigger the problem becomes for the Core countries, and eventually their Bond Market collapses too. Then the Big Repo begins, along with of course the concomittant Warfare involved.

The HI scenario for the Dollar only occurs if Da Fed will Naked Print to Cover on all the FDIC Insured accounts when systemic Bank failure crosses the pond, and so far what is occurring in Greece & Cyprus indicates they will not do that. Rather Capital Controls will be put in place to prevent Bank Runs and Depositors will be Locked Out from their savings held in the banks.

Exactly WHY any J6P in Eurotrashland is keeping money in a Bank now past a month worth of Bills is a mystery to me. It’s not like any accounts pay much interest under ZIRP. The security is NIL, there is a WAY more likely chance your deposit will be confiscated by the Bank than there is someone will find the cash buried in your backyard.

Small to Medium size Biznesses have an altogether more difficult issue, they HAVE to keep sizable sums in Banks to do commerce and make payroll. Said accounts usually are beyond even Fake Goobermint Insurance, so when the Bank Holiday comes to their Bank, they are basically SOL. Thus a Banking Collapse leads rapidly to a collapse of trade, widespread Unemployment and Depression. Ongoing in Cyprus now as we speak.

There is much Smoke now in Eurotrashland that a Bank Run is already underway out of the Euro even beyond Cyprus. Slovenia is being hit hard, and Super Mario Draghi is hiding behind the Refrigerator with the rest of the Goldman Cockroaches. The ECB is being very Cagey about publishing numbers on Capital Outflow. Measures to restrict Capital flow across borders are being implemented everywhere. The Banksters are LOCKING DOWN.

Where there is SMOKE, there is FIRE. If you are in Europe, I highly suggest you get your money OUT of the Bank and OUT of Euros sooner rather than later. That Titanic is GOING DOWN. For the Dollar Holders here in the FSoA, you probably have a bit longer, but not by much I think. When it goes down in Europe, the AVALANCHE truly begins. Avalanches don’t go SLOW.


Knarf plays the Doomer Blues


Support the Diner
Search the Diner
Surveys & Podcasts


Renewable Energy


" As a daily reader of all of the doomsday blogs, e.g. the Diner, Nature Bats Last, Zerohedge, Scribbler, etc… I must say that I most look forward to your “off the microphone” rants. Your analysis, insights, and conclusions are always logical, well supported, and clearly articulated – a trifecta not frequently achieved."- Joe D
Global Diners

View Full Diner Stats

Global Population Stats

Enter a Country Name for full Population & Demographic Statistics

Lake Mead Watch



Inside the Diner

If it is a white supremacist, then the last two bombings are a probable smokescreen, which is possible, of course. But each bombing increases risk of getting caught, so it'd be a trade-off, sending bombs to throw police off the scent. I would expect a...

Quote from: Eddie on Today at 05:39:47 AMI am increasingly willing to believe this is a real terrorist, of the Muslim variety. But if so he's not communicating with any group, because they'd be taking credit for it. It c...

Quote from: Eddie on Today at 06:18:33 AMunrelenting austerity at homeI just wonder when the Paul Ryan/Mike Pence approach to government will finally start to push people into socialism, which seems like ...

Quote from: Eddie on Today at 06:08:04 AMIt could have been set on a timer, but it went off when it got dropped off a conveyor belt, so it was detonated by a mild impact.I think an-ecoterrorist would not target black pe...

unrelenting austerity at homeI just wonder when the Paul Ryan/Mike Pence approach to government will finally start to push people into socialism, which seems like the eventual end-game. Austerity just isn't bad enough for enough people.....

Recent Facebook Posts

Former mailman builds geothermal greenhouse in the midwest; gets local citrus all year for $1 a day

Greenhouse in the Snow, built by a former mailman, grows an abundance of local produce high on the Nebraska plains.

37 minutes ago

Austin bombings: Latest explosion has experts tweaking bomber profile

Austin bombings: Latest explosion has experts tweaking bomber profile–

40 minutes ago

Evolutionary Dead-Ends

Evolutionary Dead-Ends– “It may seem impossible to imagine that a technologically advanced society could choose, in essence, to destroy itself,..

52 minutes ago

AP Exclusive: Kushner Cos. filed false NYC housing paperwork

EU Probes Facebook’s Data Sharing With Cambridge Analytica, rump’s election consultants filmed saying they use bribes and sex workers to entrap..

54 minutes ago

FBI investigating new blast in Texas

Texas explosions: FBI investigating new blast at FedEx plant

1 hour ago

Diner Twitter feed

Knarf’s Knewz

Quote from: Eddie on March 13, 2018, 05:21:10 PMAl [...]

Quote from: knarf on March 13, 2018, 03:33:01 PMAU [...]

Quote from: knarf on March 13, 2018, 03:25:04 PM [...]

A new study found that the Great Recession correla [...]

From 2003 to 2005, Gina Haspel was a senior offici [...]

Diner Newz Feeds
  • Surly
  • Agelbert
  • Knarf
  • Golden Oxen
  • Frostbite Falls

https://www.outerplaces.com/science/item/18049-sol [...]

Quote from: RE on March 19, 2018, 02:30:12 PMQuote [...]

Quote from: Eddie on March 19, 2018, 10:36:09 AMTh [...]

Quote from: Surly1 on March 19, 2018, 10:20:12 AMA [...]

Quote from: Surly1 on March 19, 2018, 10:20:12 AMA [...]

Agelbert NOTE: Great presentaton by Elisabeth Rose [...]

Quote from: David B. on March 19, 2018, 05:13:49 P [...]

Corporate Fascism 😈 👹 💵 🎩 Corrupted the Christian [...]

Quote from: Eddie on March 13, 2018, 05:21:10 PMAl [...]

Quote from: knarf on March 13, 2018, 03:33:01 PMAU [...]

Quote from: knarf on March 13, 2018, 03:25:04 PM [...]

A new study found that the Great Recession correla [...]

From 2003 to 2005, Gina Haspel was a senior offici [...]

Quote from: AGSurly apparently has come to a posit [...]

Hypocritical Sucking up by GO.Eddie, If you pick u [...]

Quote from: RE on March 19, 2018, 02:10:17 PMQuote [...]

Yes, Happy Motoring is Sustainable and Renewable.  [...]

Snow Removal 1They FINALLY brought in the Heavy Eq [...]

https://www.washingtonpost.com/news/grade-point/wp [...]

The view from my back porch this morning.  Lovely [...]

Quote from: Eddie on March 15, 2018, 05:24:18 AMHe [...]

Alternate Perspectives
  • Two Ice Floes
  • Jumping Jack Flash
  • From Filmers to Farmers

The Pendulum – Part Three Seeking Balance By High Desert   Missing in the mix of hundreds of bug-out [...]

The Pendulum – Part Two Hard Work, Bad Luck and Murphy’s Law By High Desert   Missing in the mix of [...]

The Pendulum - Part One Retreat to High Ground By High Desert     Missing in the mix of hundreds of [...]

The (Mind) Games People Play By Cognitive Dissonance     Fair warning! This is a long and dense read [...]

Wisdom, Experience and Just-In-Time Thinking By Cognitive Dissonance   I try to remind myself each g [...]

Event Update For 2018-03-17http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2018-03-16http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2018-03-15http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2018-03-14http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2018-03-13http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

NYC plans to undertake the swindle of the civilisation by suing the companies that have enabled it t [...]

MbS, the personification of the age-old pre-revolutionary scenario in which an expiring regime attem [...]

You know things have taken a turn for the desperate when women have started to drive. Or rather, whe [...]

From Filmers to Farmers is re-launched on the astounding open source blogging platform Ghost! [...]

The blogging scene is admittedly atrocious. Is there really no option for a collapse blogger to turn [...]

Daily Doom Photo


  • Peak Surfer
  • SUN
  • Transition Voice

Symbiotic Recycling"Solutions that endure usually begin at the bottom. They build regenerative, circular economies [...]

Punctuated Equilibrium" If the old answers are wrong, or become wrong over time, new answers are required. Civilizati [...]

Carbon Cool"These stories have three things in common. They reverse climate change by gaining new respect [...]

My Tesla Runs on Banana Peels"Batteries from carbonized biomass can come from sources as simple and abundant as green algae, [...]

Breathing Highways and Sponge Cities"We could do worse than to go back to the way nature manages rainfall."During the 20th Cen [...]

The folks at Windward have been doing great work at living sustainably for many years now.  Part of [...]

 The Daily SUN☼ Building a Better Tomorrow by Sustaining Universal Needs April 3, 2017 Powering Down [...]

Off the keyboard of Bob Montgomery Follow us on Twitter @doomstead666 Friend us on Facebook Publishe [...]

Visit SUN on Facebook Here [...]

To fight climate change, you need to get the world off of fossil fuels. And to do that, you need to [...]

Americans are good on the "thoughts and prayers" thing. Also not so bad about digging in f [...]

In the echo-sphere of political punditry consensus forms rapidly, gels, and then, in short order…cal [...]

Discussions with figures from Noam Chomsky and Peter Senge to Thich Nhat Hanh and the Dalai Lama off [...]

Lefty Greenies have some laudable ideas. Why is it then that they don't bother to really build [...]

Top Commentariats
  • Our Finite World
  • Economic Undertow

I thought driverless autos were designed to scan in 360 degrees. If it didn't slow down when it [...]

Since the deficit will never be repaid, one can think of it as getting real goods and services from [...]

According to both Krugman and Trump, 'deficits don"t matter [...]

Is Debt and interest rates going to destroy the economy or World War 3. It's game on. [...]

Eeyores: that is to say that there can be either wage or price inflation or both, which is to state [...]

Creed - first you imply inflation is much higher than reported and increasing then you imply that mo [...]

You all should read Paul Craig Roberts latest blog. Inflation is not 1.5 percent as the government s [...]

Dolf - I think it is a big mistake to assume that since debt creation in all of its latest manifesta [...]

RE Economics

Going Cashless

Off the keyboard of RE Follow us on Twitter @doomstead666...

Simplifying the Final Countdown

Off the keyboard of RE Follow us on Twitter @doomstead666...

Bond Market Collapse and the Banning of Cash

Off the microphone of RE Follow us on Twitter @doomstead666...

Do Central Bankers Recognize there is NO GROWTH?

Discuss this article @ the ECONOMICS TABLE inside the...

Singularity of the Dollar

Off the Keyboard of RE Follow us on Twitter @doomstead666...

Kurrency Kollapse: To Print or Not To Print?

Off the microphone of RE Follow us on Twitter @doomstead666...


Off the microphone of RE Follow us on Twitter @doomstead666...

Of Heat Sinks & Debt Sinks: A Thermodynamic View of Money

Off the keyboard of RE Follow us on Twitter @doomstead666...

Merry Doomy Christmas

Off the keyboard of RE Follow us on Twitter @doomstead666...

Peak Customers: The Final Liquidation Sale

Off the keyboard of RE Follow us on Twitter @doomstead666...

Collapse Fiction
Useful Links
Technical Journals

As urban overheating is increasing, there is a strong public interest towards mitigation strategies [...]

Operational analyses and re-analyses, provided by ECMWF for the period 1972–2015, were used to inves [...]

Work published in 2012 revealed that annual minimum temperatures over the coterminous United States [...]

Globally, cities are growing at an unprecedented pace, putting pressure on space, existing infrastru [...]

Follow on our http://www.doomsteaddiner.net/forum/