Ann Barnhardt: So Bad I Can’t Think of a Suitable Title!

• There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. – John Adams, 1826
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• The FedRes, ECB, IMF, World Bank and practically all central banks (except for Iran, Myanmar and North Korea) are privately owned Illuminist banks. It is via these central banks that the Illuminati exert their Mammon power: the global fiat currency hegemony. These banks are owned by the 13 Satanic bloodlines, seed of the serpent. They enslave the world via debt! They control and manipulate the world via fiat currencies created out of thin air. With this power, they can buy up countries, politician snakes, manipulate/crash economies, attack currencies (think Iran), drive commodity prices higher to cause poverty, famine …. you get the idea! (emphasis mine)
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  So Bad I Can’t Think of a Suitable Title! 
  by Ann Barnhardt, http://barnhardt.biz/ 
  I have been warning my cattle industry clients FOR YEARS to get out of debt as quickly as possible, and not just for the obvious business reasons. I have been telling them that the government WILL NOT HONOR any contracts or terms on mortgages or notes when the system collapses and the banks are all nationalized. Your 20-year note at 5%? Yeah, the government will change that once your bank has been eliminated. Still there are scads of people who simply cannot comprehend a lawless environment wherein there is no rule of law, and thus no recourse of any kind.
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  Well, maybe you will believe me now, because the European Central Bank has just arbitrarily changed the terms of all of its Greek bonds with zero engagement with the market or any judicial review. They just changed the terms of their Greek bonds with the wave of their hand. In doing this, they have utterly SCREWED everyone else holding Greek paper, essentially making all other Greek bonds worthless with zero salvage value.
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  The European Central Bank (ECB) is like the Federal Reserve here in the U.S. The ECB loans money by buying bonds of the various Eurozone nations. So in this case, the ECB is “the bank” and Greece is the borrower. When Greece borrows money from the ECB by selling the ECB Greek bonds, there is what’s called an “indenture”. The indenture is the full set of terms associated with that bond instrument, including the maturity date, the interest rate, and any other legal terms of the bond instrument.
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  What the ECB has done is arbitrarily and unilaterally CHANGE THE INDENTURE TERMS of all of the Greek bonds that it is carrying. Specifically, the ECB has removed the “collective action clause” from the bonds that it is holding – and ONLY the ECB-held bonds.
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  What is a “collective action clause?” It is a clause that allows a majority of bondholders to agree to debt restructuring terms that APPLY TO ALL BONDHOLDERS. By removing the “collective action clause”, the ECB has set itself above and apart from every other Greek bondholder, and made itself “preferred”, meaning that if there is a Greek default, the ECB goes to the front of the line, gets 100% of the salvage value that may remain on the Greek paper, and everyone else gets NOTHING, simply because the ECB Greek bond position is large enough that it will clean everything out in the salvage, easily. The ECB has, completely outside the rule of law, subordinated every other Greek bondholder.
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  If they can do this, they can do anything. Any terms on any debt can be changed without notice. It is just a matter of time before the ECB does this with other Eurozone nations, and it is just a matter of time before the Federal Reserve starts doing this here. The entire global financial and economic system, the rule of law, and civilization itself is literally imploding before our very eyes.
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  … for more click here!

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