The Turnip Plan

If you read The Chess Game and UN Agenda 21 – Roots, you are probably curious to know just how you could lose your benefits, assets and property. You can lose your house if you lose your job… that one’s easy. You can lose your Social Security and Medicare if the government runs out of cash. You can lose your retirement account if it’s confiscated by the government.

If a debtor has no money and nobody will lend him any, he can not pay anything to anybody (no blood in a turnip). So, what’s the plan ? Our Federal government is acting like it will never reduce spending or attempt to pay down its debt….ever. Buried in the Obama-care legislation is authorization for the Federal Government to seize your retirement accounts.

Democrats have loaded up the 10 year Whitehouse “budget” with an extra $1 trillion a year more than they’ve ever spent. They ignore questions about why we need to spend $1.6 trillion more than we take in. Democrats want their big expensive government. Republicans want to balance the budget to prevent The Turnip Plan.

Our largest banks are insolvent. Their balance sheets have as many liabilities (toxic mortgage-backed securities, etc.) as assets. Large defaults on loans will push them over the edge. Some hold investments in Greece, Spain, Ireland, Italy and the US.

Greek Default

If Greece defaults, the Greeks, banks and bond holders all take hits. The bond holders (banks) have agreed to take a 21% haircut on the value of their Greek bonds.
They may see to it that the creditors bail out the Greeks this one last time, but they will step in at that point and take over the Greek government. They will slash the expenses the elected officials were incapable of cutting and set up a shadow government. These will be Greeks, who report to the EU (or Germany). Greek sovereignty will be toast

They may trim pensions and benefits to citizens instead of eliminating them. What they do may be the prototype the rest of us can expect when our country goes into receivership.

EU Cascade

This could happen one country at a time, but might cascade faster. If it does, then a chain-reaction occurs. The same banks may hold loans and bonds from all of those countries. In a bankruptcy, all creditors are liable and a default in Greece would ignite liquidity crises in banks in other countries. The money these governments owe to the banks will come due as each of these countries default. They will do a “work-out” if they can, but if the amount of money required to do this with these 4 European countries is too much, the banks will stop lending new money. That’s their Debt Wall. The government can’t pay its employees or pensioners and their paychecks will stop. If they have any debts and can’t make the payments, their cars will be repossessed and their homes will be foreclosed.

US Debt Bubble Bursts

The US government will absolutely hold interest rates down as long as they can because of the impact higher borrowing costs would have on the debt service payments.
When the US hits its “Debt Wall” the same events would likely occur. But the US bond holders include the government of China, India, Japan and others. When other countries own the bonds, they might want a land deal. Imagine these countries owning that much US land. We could expect this work-out agreement would be made in secret and may have already been negotiated. It may involve the appointment of Trustees who would oversee the transition. its The Trustees would collect tax revenue and pay creditors. Tax revenues would fall with our economy. Heavy tax increases could be imposed.on what’s left of the economy.

A provisional government would run whatever functions the Trustees approved as necessary. These would probably include a large national police force tasked with keeping us under control, and moving us to relocation camps. The US dollar would be abandoned and become totally worthless (think Weimar Republic). Obviously you will lose your job, your Social Security, your Medicare, food stamps, housing subsidies and your bank account. Now…wasn’t that fast ?

The “Evil Empire Spooky Dudes” I mentioned in The Chess Game are selling their gold market and are raising cash to place their bets on defaults. They set this up and they will look to buy contracts betting on sovereign debt defaults they are certain will happen. Obama is doing his part by spending us into oblivion. You should stock up on drinking water and can goods now.

The Spooky Evil Dudes who caused all this would be the only ones with any money. They will collect their winnings from their sovereign default bets. They will buy gold when it bottoms..

The US Federal Reserve will keep these banks and foreign governments “liquid” with printed money from us. That works, because inflation is part of the volatility plan they have in store for us in the US to experience,.. serves us right…can we own Greece ?...No, Greece will belong to the (Spooky Dude EU guys).

We would hit our “Debt Wall”, if US bond holders sold their US Treasury Bonds and no one else would buy them. Ben Bernanke could buy Treasuries for the Fed balance sheet until somebody breaks his printing press.

Some committee of politicians we know, like Obama, could be appointed by the Trustees as the “provisional government”. They will not report to you. They will report to the Chinese, the Indians and The Bond Holders or to the “Spooky Evil Dudes” They might dictate the same reductions and cancellations and raise taxes to something like 50%.. There will be a shadow government (Spooky Dudes) the “provisional governments” reports to, They will be the only folks with any money. They will slash expenses and deport all Republicans. We will no longer be a Christian nation.

In the 1979 John Ritter movie “Americathon”, volunteers offered to hold a telethon to raise money for the government. That won’t happen here. We are on the path to “mutually assured destruction”.

We would rather cut $1.6 trillion from the Federal Budget by closing all but the four Cabinet Level Departments authorized by the Constitution..

We will wake up one morning to a special TV announcement that our government has been dissolved by its creditors and a “new” provisional government has taken its place – it’s the plan. Our economic demise will follow quickly.

Have a nice day !