by John Galt
June 14, 2012 12:00 ET
First and foremost, this is just an advisory of what my personal plan of action will be over the next 120 hours and not a recommendation for anyone to repeat or engage in any of these actions, especially if they can not afford to do so. There is not guarantee that this is the weekend where the events in Europe and the Middle East create the ultimate storm of financial disruption which washes over the American seawall like a Tsunami of economic doom, but to watch the events of this week and thus far this morning and to do nothing to protect and prepare my family is foolishness.
The summary of events which are prompting my course of action:
1. Greek elections with a distinct possibility of results that plunge the nation into chaos and even civil war. The inherent instability there is already bleeding over throughout the Balkans as other nations in the region are suffering the spillover effects of the rapid economic contraction.
2. Cyprus appears to be on the path to receiving a bailout while unification talks between “North Cyprus” or the Turkish zone appear to have broken down. If the United Nations mediator departs without an agreement and the bailout occurs, the oil and natural gas reserves discovered by the Greeks may well be used as collateral for the loans from the European Central Bank creating more friction between Greece and Turkey; especially if the election results in Greece produce a radical nationalist alliance.
3. Italy and Spain’s sudden and rapid economic collapse is impacting the banking systems throughout Europe and will ultimately hit the U.S. causing a contraction in investment and spending and a much more severe contraction/recession than 2008 as our nation’s structure to deal with this problem is far weaker than the prior collapse.
4. Egypt is on the verge of civil war and/or a military coup d’etat. The stories from the Egypt Independent this morning are alarming at best, terrifying in the implications to the region at worst:
All that and the silence of Israel’s potential course of action towards Syria in preventing Islamic radicals OR the Assad regime from launching WMD’s against their tiny nation are of great concern, especially if Hezbollah adopts a use it or lose it approach with the defeat of the regime in Damascus.
5. ZeroHedge posted a cryptic message from the Forex trading company Oanda early this morning (see thread at ZH-“Due To The Extreme Volatility Some Market Analysts Foresee…“):
Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.
Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt.
To say this is disturbing is an understatement, so I am preparing accordingly.
James Wesley Rawles at Survivalblog.com posted an excellent primer yesterday (20 Reasons Why America’s Next Bank Holiday Will Be a Nightmare) but I wish to take this one step further and will discuss want the bank holiday will look like on my radio program tonight at 8 p.m. Eastern on the Just Measures Radio Network.
Thus after analyzing everything that is happening and the disturbing instability in the European and Middle East region, I am doing the following:
1. Leaving a minimum amount in my personal checking account to cover outstanding checks on Friday, June 15 before the close of business at my bank. Same for the business account.
2. Securing an extra year’s worth of prescription medications, contact lenses, and any other supplies for my family’s use.
3. Looking for bargains on fungible supplies that will vanish rapidly for barter: Cigarettes, seed, liquor, etc.
4. Emptying the contents of the family’s safety deposit box (I do not have one, it’s my relatives) and securing in a safe location.
5. Filling all fuel containers to the maximum and placing them in SAFE storage locations.
6. Performing all remaining scheduled maintenance on my vehicles before the weekend is over.
7. Testing (again) all radio equipment and set ups, transmitters and receivers.
8. Verifying that all family members have emergency plan information and contact procedures.
9. Moving some supplies to the alternative bug out location.
10. Testing all electrical generating equipment, charging all batteries, and cleaning solar cells/chargers for use.
11. I almost forgot-Test and reconfigure all battery packs and battery powered surveillance cameras, alarms, and deploy to all locations around my perimeter beyond the original base system.
Hopefully this is just another financial hurricane which misses us and the course of action I take is by no means a recommendation for my readers or their families. The lies being spun by the mainstream and financial media are disturbing and with the potential for a collapse to occur without warning will only generate more panic in the masses, not less. I just prefer not to be one of those souls trampled by the sheeple in a herd of misdirection and confusion. I shall be posting news updates as time permits throughout the weekend on these pages.
EDIT TO ADD 16:42 ET: I added #11 because the wife reminded me we should conduct a full blast NOT connected to the land line/local police department test of all trip alarms, cameras, etc. – John