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Ice Nine Comes to China. Over $1 Trillion in Cash Will be Frozen in Place.

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“Ice-nine” refers to the elite policy response to the next global financial crisis. In a crisis, everyone wants liquidity.

In the 2008 crisis, the liquidity came from trillions of dollars of currency swaps and money printing by the Fed. That won’t happen in the next crisis because the Fed never got its balance sheet back to normal from the last crisis. The Fed still has over $4 trillion of securities on its balance sheet from QE1, QE2, and QE3. They’re tapped out.

Instead of printing money, the elites will freeze the system. First, they’ll freeze money market funds. Then when people turn to the banks, they’ll freeze bank accounts and close the banks and ATMs. Then when people start to sell stocks, they’ll freeze brokerage accounts and close the stock exchanges. Eventually the entire system will be frozen. That’s ice-nine.

The freeze will remain in place while world leaders convene a new Bretton Woods-type international monetary conference to devise a new system. I wrote about ice-nine in Chapter One of my last book, The Road to Ruin.

I borrowed the ice-nine idea from author Kurt Vonnegut who used it to describe a doomsday machine in his novel, Cat’s Cradle. In Vonnegut’s book, ice-nine freezes all of the water on earth and life dies out. In my book, ice-nine freezes all of the liquid assets.

The ice-nine plan has been in preparation in the U.S. for some time. The SEC changed the rules a few years back to allow U.S. money market funds to be frozen. U.S. stock exchanges already have “circuit breakers” which will close the exchange when stocks drop more than a certain amount.

Now, China is catching up. This article describes how China has copied the U.S. in allowing money market funds to stop redemptions over about $1,000 (a government “allowance” for gas and groceries). Other governments are doing the same thing.

The only safe haven is in physical non-digital assets such as gold or silver.

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