Some of you may have heard that Congress has apparently reached an agreement on a new reform for the Financial Services Industries. The elite bankers of the world have been fighting to push this through because it will allow them to have a virtual stranglehold on any hopes you may have of being financially independent from them, and now it appears that they will get exactly what they want.

New mergers will begin to occur soon, which will combine your banking, investing, and insurance services within a single business entity. Imagine one organization which will know how much money you have in the bank, how much in stocks, how much your home, vehicles, and any assets are worth, how much and what type of medical, auto, and homeowners insurance coverage you have, your medical condition, your DMV record, etc, etc. They will have a seamless comprehensive profile of your personal and financial characteristics at a glance, allowing them to control your lifestyle as they see fit. Talk about a "monster" corporation, these organizations will make Big Brother look like a nice guy.

There has been a good deal of resistance primarily by some democrats and consumer advocates with respect to the lack of concern for privacy issues, but it looks like they have given it to pressure and for the most part conceded the fight. The only provision for privacy mentioned thus far is as follows:

"Requires financial institutions to disclose in writing to customers their policies on collecting, using and protecting personal financial information"

In other words, there is no restriction against them from sharing your personal information between the newly merged businesses, and they are not required to tell you this verbally, it will be in the fine print. I know that there are going to be millions of sheeple who blindly fall into this trap because they will be persuaded of how convenient it will be for the customer. I would urge anyone before handing their life over to a monster like this to take a very close look at the fine print, and do not sign it if you care about your privacy and freedom.

score one for the banks

[snip]

After two decades of trying, both the House of Representatives and the Senate this year passed bills to allow banks, brokers and insurers to enter each others' businesses, a change for which the banking industry has lobbied aggressively. A conference committee has been trying to reconcile the measures and avoid a threatened presidential veto.

"A resolution has been achieved that appears to represent a good-faith consensus in which the Treasury participated and both parties played a role," said House Banking Committee Chairman Jim Leach, an Iowa Republican. "We believe we're at a credible resolution."

The new law would repeal parts of the 1933 Glass-Steagall Act, which prevented banks from moving into the securities business, and was considered an archaic symbol of government regulation no longer relevant in a high technology world.

"Tonight we have laid the foundation to make history," Senate Banking Committee Chairman Phil Gramm, a Texas Republican, told the committee after senior Republican and Democratic lawmakers emerged from six hours of closed-door talks with administration officials.

[unsnip]

-- @ (@@@.@), October 23, 1999

Answers

All I can say on this for now is that you should be using a local-based credit union to keep your money.

If millions more did this simple thing, instead of giving all over to the Alphabet banks run by TPTB, we'd have a stronger say in changes.

I'd rather have my money in a Mob-run bank than give it to these pirhanas. At least the Mob makes money--look at the tens of billions squandered by our NEW WORLD ORDER banks and institutions in the past generation. All bailed out by the sucker of last resort--taxpayers.

-- profit of doom (doom@helltopay.ca), October 23, 1999.

The part of your post, @, that I don't understand is this:

"...allowing them to control your lifestyle as they see fit."

How can anyone control your lifestyle without your permission?

(this is not meant as an endorsement of the NWO consolidation of the financial services industry. I think it sucks. However, there ARE alternatives to playing along with their game. Why not try one of those alternatives? Nobody has shackled you to your credit cards.)

-- (dot@dot.dot), October 23, 1999.

But will it matter at all?

All the banks, brokerage houses and insurance companies in the world could merge into one company and Y2K can still render them into nothingness. All they'll have is electro-dollars that aren't worth anything more than the paper the computer printout is on.

If any of the mergers do take place it won't be until well into next year or later, with no Y2K. With Y2K a serious possibility to destroy all the industries involved this is just another round of re- arranging the deck chairs.

All in all I'm willing to bet that the actual goal of this effort is to allow the companies one more chance to shear the sheep in another round of market speculation over merger mania. And guess how many bank, brokerage house and insurance company executives are gonna exercise their stock options and sell out to the sheep trying to get in on the next big market wave? What was the line Joni Mitchell sang a few years ago?

"Fleece me with the gambler's flock..."

WW

-- Wildweasel (vtmldm@epix.net), October 23, 1999.

Yeah, WW, but it's the PRINCIPLE of the thing....

"People who act like sheep deserve to have leaders who act like wolves."

-- King of Spain (madrid@aol.cum), October 23, 1999.

Dot, etc.,

The problem is the merging of computer bases and the loss privacy for Americans. Banks will have access to, and will be able to get their hands on, your investment money, in addition to your checking and savings accounts to invest "on behalf" of you without your knowledge. You will believe your investments are safe just as people today think their money is safe in a bank.

Your insurance company will know your net worth and take that into account when it comes to the settlement of insurance claims.

Your investment broker and your bank will know how much life insurance you have, how many auto insurance claims, medical insurance claims or property insurance claims have been made and the pertinant information involving those claims without your permission or knowledge. They will have access all the private information you might have to provide to apply for or to make claims for insurance coverage. Investment brokers,bank representatives and insurance brokers can develop risk profiles utilizing the combined data bases on customers without their permission or knowledge.

Personally, I'd prefer my banker not have access to my personal medical information. I'd prefer when making an insurance claim that they not have access to information about my investments or net worth.

But, that's me. The implications are endless. Our right to privacy is further compromised without anyone objecting due to the new convenience extolled by those favoring the merger.

I find it a frightening development, a loss of privacy akin to merging IRS and Social Service data bases in the name of punishing "dead beat dads" by confiscating their IRS records. Now IRS has your social service information and vice versa. One day, in the name of convenience or cause, all computer bases could be merged and at that point you have NO privacy.

-- Leslie (***@***.net), October 23, 1999.

dot,

I don't think you're making the connection here. Have you ever used alcohol, tobacco, drugs? Any mental problems? Sexually transmitted diseases? Are you a homosexual? Ever had a seizure or heart attack? What kind of traffic violations do you have? How many accidents have you been in? Do you have a criminal record?

Now, are these the kind of things you want your bank to know when you apply for a car loan? What will happen to your auto insurance or life insurance premiums if they discover that you have health problems? If you are temporarily laid off and you have to postpone a car payment or mortgage payment would you like your bank to sell some of your stocks to cover it?

The implications are endless. Just give it a few years, and believe me you will see.

-- @ (@@@.@), October 23, 1999.

opps. make that IRS refunds no records.

-- Leslie (***@***.net), October 23, 1999.

This is a bad move. The Glass-Steagall Act was created for a reason. Of course, times are different now, so we don't have anything to worry about. I feel that as a result the sheeple will be sheered.

-- rcw (cw5410@netscape.net), October 23, 1999.

Had a momentary distraction... now picking up where we left off...

dot,

"However, there ARE alternatives to playing along with their game. Why not try one of those alternatives?"

Yes, there will be alternatives at least for a while, perhaps credit unions as suggested, but it is only a matter of time before they are swallowed up by the mergers. Within our lifetimes we will get to a point where you may have a choice of only 3 or 4 huge companies to handle all of your financial matters, and they will have access to all available data on you.

WW,

"If any of the mergers do take place it won't be until well into next year or later"

Ever hear of Citigroup? They are already merged, they've just been waiting for this legislation to make it legal. Anyone who has a bank account with Citibank or an insurance policy with Travelers had better move fast unless they want their data to be shared.

Leslie,

"The implications are endless"

I don't know if I was on the exact same train of thought or picked it up subconsciously, but it was just coincidence. In any event, I see it exactly the same way - thanks for your comments.

-- @ (@@@.@), October 23, 1999.

I HOPE y2k fucks the lot of them.

-- Andy (AUVENGER@cs.com), October 23, 1999.

I don't see why people think Y2K is gonna put an end to NWO plans,it is realistically going to be the EVENT that allows them to really start the ball rolling for their agendas.

Personally I believe the NWO WANTS Y2K to happen or has actually orchestrated it over decades to happen NOW

All the Govts round the world are gonna bring in "sweeping new laws" after Y2K,you can bet on it How many new laws do you ever see getting reversed once they are in place?

-- mango (not me@where.who), October 23, 1999.

Andy Cap,

'Ow many pints 'ave ya 'ad now mate?

Cheers to your response, I am inclined to agree!

Mango,

Are you the same Mango that is on Saturday Night Live? (oooo, I think I'm in love!).

Unfortunately I think you are correct. They are just setting the stage to have total financial control over the entire human race within ten years. Timing this legislation to go into effect right before we head into a depression is no accident. They know that if they wait until we are in a depression it would never fly because that was why the original legislation was created.

-- @ (@@@.@), October 23, 1999.

For Dick Moody's view of the NWO, see this link:

http://www.greenspun.com/bboard/q-and-a-fetch-msg.tcl?msg_id=001d RY

-- (wowser@woah.com), October 24, 1999.

Wowser,

Yeah, I kinda got off topic a bit there on that gold thread, but it might have some bearing on things too.

To All:

Consider this possibility regarding Glass-Steagall Act and Big Brother:

The Biblical prophecy regarding the Antichrist ("Beast") and the 666 notion... Revelation 13:16-18.

"And he (the beast or Antichrist)...causes all, both the small and the great, rich and poor, freemen and slaves to receive a mark in their right hand or in their foreheads. And that no man might buy or sell unless he has the mark, or the name of the beast, or the number of his name. Here is the wisdom. Let him that has understanding count the number of the beast for it is the number of a man and his number is 666 ('sixhundred threescore and six).

With only a handful or even just one single entity providing banking insurance and financial services it wouldn't really take much for a world dictator to keep tabs on folks, with or without sophisticated computers. Of course, I'm sure computers would help, especially if the mark turned out to be an embedded ID chip that worked after the rollover. Hmmm... maybe there is a case here for the Pollies after all but then, I don't think they'd like the result. In fact that might really wish Y2K had happened.

Can't say for certain just how it all the details will be played out, but it makes for something to ponder anyway. And who knows maybe all these Biblical prophecies are still 30 years away from happening. That is also a possibility. Also, it still wouldn't be the end of the world just a change over to a new 'era' with the bad guys disposed of.

-- Dick Moody (dickmoody@yahoo.com), October 24, 1999.

The only question that remains is what the single Global Corporation will be called. For years now I've thought the name MegaCorp was nice, although a friend thought UniCorp better. Another suggest 'Friend,' in the ultimate euphimistic blitz. "My money comes from Friend, Friend takes care of me..." Of course, Orwell ruined 'Big Brother.' Will sentient programs (like us) be permitted?

-- Spidey (in@jam.control), October 24, 1999.

Spider,

How about "Big Daddy" or "Matrix".

-- @ (@@@.@), October 24, 1999.

If it does happen, my bet for the name is Conglomo. With a corporate motto of "We own you".

WW

-- Wildweasel (vtmldm@epix.net), October 24, 1999.

"Microsuck"

"We suck your brains out, repair your faulty coding, and then reinstall them".

-- @ (@@@.@), October 24, 1999.