The Day the Dollar Died (Part VII)
VII. Security for Liberty for All
Filed under: The Day The Dollar Died Series
by John Galt
December 7, 2009
I hope you enjoy this blovel and continue to provide feedback as you see fit. There is no right or wrong, only opinion as everything from this point forward is FICTION…..
February 24, 2010 10:55 A.M. Eastern Time
Lillian was sipping coffee by the cash register when Sandy ran back inside and yelled “Mama, I need your help with the State Patrol.” Lillian carefully placed the cup down and complemented the cashier on her courtesy and understanding, realizing that this could well be the last cup of coffee she got from her favorite restaurant for a long time to come. As she approached her somewhat bedraggled daughter the trooper was getting his report book out and starting to interview his daughter. The trooper started to speak in that South Georgia drawl to Sandy, “Ma’am, I hate to say this, but you really shouldn’t be this far from home ’cause their aren’t any gas stations open with fifty miles of here and I’m not sure if I can help you.” Sandy looked somewhat distraught at her mother who asked the most basic question that anyone could have and should have asked of the officer; “Sir, do you happen to have any spare gas that I can purchase from you?” Sandy looked relieved until the officer snapped at both them in a very firm voice “We can’t spare a drop at this point in time. There is too much going on and I have spent enough time on a case that will never be processed. We are only working major felonies, monetary crimes and area enforcement cases at this time.” Lillian had heard this before as her mother had to deal with the rations manager in the small town of Adel during the big war. Lillian batted her eyes in that adoring grandmother pose and looked into the trooper’s eyes as she said “Sonny, I’ll give you all my money, forty bucks, if you can just spare five gallons so she can get home. I promise that she’ll drop me off west of town and then head on to her house.”
The trooper, exhausted after twenty hours of solid duty, nodded, popped open his trunk and handed Sandy a full five gallon can from one of the six he had in his trunk and then looked over at the smiling little old lady and said “Ma’am, you can keep your money. It’s not worth a thing anyways. Y’all need to get home, lock the doors and hunker down for a few days until this thing sorts out. Hopefully they’ll get the grocery stores and banks open in a few days.” Sandy snapped right back in a submissive voice, “Sir I promise you, we’ll go to her house, pick up some supplies and lock up at my house. I promise!” The trooper nodded and Lillian smiled and handed him a small gold ring on her pinky and whispered into his ear “Sonny, God Bless you. I have had a full life and now I have my daughter for whatever is next because of you. Take this as a token of thanks, it isn’t much but we’re all going to need real money for what is next.” The officer smiled, kissed her on the cheek and ducked into his car to hear the radio call “10-34 in progress, all units near Pitts Shell off Highway 54 in Peachtree City respond immediately. Officer is down on scene and requesting assistance.” He confirmed the call, slammed the door and peeled out of the parking lot lights and siren blazing away. Sandy was finishing up pouring the gas into her car and looked up at her Mama and tearfully said “I wish I was as strong as you Mama!” Lillian could tell her daughter was upset by today’s events and looked back at her with a reassuring smile with the words only a mother could say, “You’ll be stronger than ever after this honey, that’s a promise.”
February 24, 2010 12:00 P.M. Central Time
Mike’s phone rang as if almost on schedule, except instead of his dispatcher being on the company phone, it was the Federal Department of Transportation. The voice on the other end was quite blunt “Unit 1204, Mike Elmendorff, is this you on the line?” Mike hesitated and replied, “Yes, it is me, can you please identify yourself?” The female voice blurted out “This is Sandra Tillens with FDOT calling all truckers currently with foodstuffs on their trailers under dispatch in the Minnesota district. According to the information submitted by your company on Pro number 47762IBP1011 you have approximately 15,000 lbs. of boxed frozen pork destined for Duluth Meat Supply in Duluth, MN.” The hesitation in Mike’s voice turned into concern when he told her “Your information is correct. How can I help you?” Ms. Tillens replied sternly “You are hereby instructed to deliver this order to Superior Cold Storage at 1123 Mullins Avenue in St. Cloud, Minnesota at 0400 in the morning. We will send an escort from the State Police to insure you arrive safely.” Mike’s blood pressure hit a boiling point by now as he was not in any mood to be dictated to after all that has happened in the last seventy-two hours. “And Missy, when do I get paid for hauling this load and will I get my fuel reimbursement my jack ass dispatcher said I would get when I spent my own money to keep this unit running for the last two days?” She was not going to take any huff from the old driver “Sir, you are under orders as this load has been transferred to FEMA for redistribution. You can fulfill this delivery and contact your company on Monday about settlements which will be processed by the state of Minnesota or we can send a unit with the proper escort to take the trailer from you and deliver it back to you when we are finished unloading it or a time of our choosing.”
Mike knew he was licked, “Ma’am, I will be there at 0400. For your sake, I hope my wife is safe while I am gone.” The lady hung up at that point and Mike called grabbed his personal cell phone to try to get in touch with Deputy Monckton. “Jack, I need a huge favor” Mike asked when he picked up the phone. “Mike, I’m in no position to do anything. We’ve been issued full body armor and I have roadblock duty with a National Guard unit out at 210 and 75 north of Breckenridge. I can’t do a thing to help you old friend” Jack replied. “Damnit man, my wife is going to be all alone tomorrow and I fear that those nuts we heard on the interstate are still around!” Mike said somewhat exasperated. Jack paused and said “Mike, I wouldn’t sweat it. You’re going to have an escort and anyone caught out after dark without proper authorization is shot on sight. This is the old days new again old buddy, just like the crap sandwiches we ate in ‘70 in the jungle. I’ve got to go, we’re mounting up now to get into position before dark. I’ll call you on Friday or Saturday when we’re relieved.” Mike said his goodbyes and walked into the other room where his wife was sitting looking at him with that glare that only a woman you’ve known for years could give. She started speaking before Mike said a word as he started to open his mouth and told him “Just leave me a pistol and a shotgun. And you had best identify yourself mister when you knock at the door or I’ll blow your butt away.” Mike smiled, walked over and hugged his wife and whispered in her ear “I love you baby. I’ll leave you the 357 and I’ll take the peashooter. You’re the greatest.”
February 24, 2010 3:00 P.M. ET
“This is the Voice Of America Domestic News Service, welcome to the afternoon update from Washington, D.C.” the voice boomed over the television. I turned the volume up because some information was better than none at all and I needed to find out anything about what was happening in the world beyond the canned garbage coming out of the radio. At the conclusion of the five minute update, of all things, CNBC returned to “normal” programming except that instead of the afternoon market update, it was a bizarre studio setting with a very exhausted looking Federal Reserve Chairman about to be interviewed by Maria Bartiromo. For this, I had to stay tuned in and called my wife into the room to watch the show as this could set the course for years for this nation.
Maria Bartiromo: “Good afternoon Chairman Bernanke and welcome to the Voice of America’s Business Report. ”
Stunned, I immediately did what about half the nation did and hit the “INFO” button on my remote control to insure that yes, I was on Channel 39 and the Comcast ID did say “CNBC” so I guess the insanity I was witnessing was not about to end.
Chairman Bernanke: “Thank you Maria, I hope to enlighten everyone about the great success we have accomplished in Geneva.”
Bartiromo: “With the financial markets shut down worldwide and the banking system paralyzed in this country, what actions were agreed to in Geneva to restore the system?”
Bernanke: “The meetings we held were basically an acceleration of the prior agreements signed off on at the last G20 and G8 meetings. The first priority will be to open the Asian and European financial markets since the nations in those blocs have established an accelerated schedule to use the new Universal Currency Unit for international trade and to discontinue the current single nation reserve currency system. In the interim, the United States will operate under the emergency declaration issued by the Federal Reserve banks and the President of the United States for the next ninety days.”
Bartiromo: “With the emergency declaration set to expire in a few months, does this mean our equity and bond markets will not reopen any time soon or will they have to wait for other actions to be completed before we restart the system?”
Bernanke: “The actual process is not that complicated. The devaluation agreements have been completed and now we are in the process of assigning new valuations to all equity and bond holdings traded openly on the markets plus issuing new domestic debt bonds to substitute for Treasury issues held by domestic institutions and individuals. After the new issues and exchange process is completed for Federal, State and municipal securities, the markets will reopen after the pricing configuration for non-Government issues and forced defaults are assigned within the new system. The pricing process has been assigned to committee within the Federal Reserve system at the New York branch and should be completed by March 8th. The financial markets are projected to open under the new six hour trading rules on that date at 9 a.m. Eastern time barring something unforeseen.”
Bartiromo: “Why six hours and not the traditional hours as set by the exchanges?”
Bernanke: “Per the new international regulatory authority, IFROB or the International Financial Regulatory Oversight Board, which reports to the International Monetary Fund and the United Nations, we must comply with all transaction authority until the Federal Reserve system is one hundred percent compliant and merged with the new World Reserve Bank established in Geneva as per the G20 Washington Accords of 2008. The stability from using international regulations over domestic oversight, which has failed and created the situation we find ourselves in today, shall enhance the power of the reserve bank branches via internationalization yet prevent the gaming of the system and creation of untested financial instruments that destabilize world markets.”
Bartiromo: “Mr. Chairman you hinted in previous statements from Geneva that despite the domestic issues which are vexing the systemic restart, there would be a major impact felt by individual investors and the average citizen, changes which would revolutionize our economy and create a true free market with controls to insure stability. Could you please expand on those statements?”
Bernanke: “Certainly Maria. The accords which have been working on are designed to prevent a default by the United States and to stabilize the currency exchange process via a non-singularity which was the weakness originally designed in the post war Bretton Woods agreement. The approach of a unified currency system and allowing individual nations to opt out and continue financial transactions or economic activities in their own domestic monetary units will allow for a slower compliance period for debtor nations needing to fulfill obligations and balance their national books before accepting the new international system. The United States is the largest debtor thus the compliance period for our country will be ten years, of which the President has signed off on the austerity accords which the Reserve banks concurred with and allows the United States to return to a stable economic participant in the world by 2021.”
Bartiromo: “What does this mean for Main Street?”
Bernanke: “Ultimately it will return us to an era of prosperity we have not enjoyed for almost fifty years ago. It provides a budgetary discipline which allows the country to provide economic security for the citizens and to preserve the important liberties for all. Soon enough, as the price stability quotas are implemented, things will start to calm down and the business of America will return to being focused on the economic growth engine of the world.”
Bartiromo: “Are there new regulations for equity and financial markets that will be issued? There are many viewers concerned about their 401K’s and IRA’s who are watching this afternoon.”
Bernanke: “Yes Maria, and fortunately for all participants in retirement programs or investment vehicles like that, the United States Government with the approval of the IMF has agreed to insure and guarantee the market values of all of these instruments as of the close of business on Friday, February 22. The price and valuations are locked in place and can be converted to the new DTI’s or Domestic Treasury Issues on March 8th or submitted to the Social Security Administration for the new Civilian Retirement Fund Management Program which opens for subscriptions on March 2, 2010. Either solution should re-assure the average investor that their life savings will not be lost during this turbulent transition period.”
Bartiromo: “Thank you Mr. Chairman for your time this afternoon and back to the new VOA studios for a panel discussion on today’s revelations.”
I was stunned silent again when my wife nudged me and said “I guess this means we will never really see our retirement funds, will we?” I nodded my head with a very saddened negative connotation and asked her one important question which was bothering me since this began, “Will you still love me if I dig ditches or become a bureaucrat?” She hugged me tight and kissed me with a whispering “yes” in my ear. The untenable situation had hit home and hopefully tomorrow the mailman will bring us information about what happened to the tens of thousands of dollars we had been saving for our future or at least give us a hint as to what the future may bring. I knew one thing though, I had to find some sort of communications outlet beyond the new government controlled media or I would go insane. With that in mind, I told my wife “Honey, I’m going for a walk at five. Why don’t you stay home and guard the house with our neighbors. I have to go a few blocks over and see if old man Lewis still has his amateur radio gear all hooked up and see what the news is not telling us.”
Little did I know what you don’t know might hurt you far worse than the truth.