http://www.reuters.com/article/2013/03/ … 2220130316
http://kingworldnews.com/kingworldnews/ … _Gold.html
The seas of Cyprus and Hellas have the biggest gas and oil deposits of Europe. It’s not by coincidence that both countries (Greek origin) are under financial attack. “They” try to bring our resistance down hitting our quality of life and our courage as to take everything for nothing. The party leaders work for them. We have no options at the moment (elections ect.) as all of the politicians play roles. The decision for the depositor’s money must be ratified by the parliament of Cyprus. Let’s all send our best energy to Cyprus.
Sunday, March 17, 2013
Will The Cyprus Bailout Trigger The Next Financial Crisis?
In an a deal that needs to still be approved by the Cypriot Parliament, an international banking consortium led by the IMF agreed to bailout of Cyprus. Part of the deal includes the imposition of a levy on bank on bank savings accounts: 10% on bank balances in excess of 100,000 euros ($131,000) and 6.75% on balances below 100,000 euros. Cypriots lined up at ATM machines over the weekend – they can withdraw cash until the ATMs run out of cash up to the amount that has already been set aside for the levy.
This story has received close to no coverage in the U.S. despite the potential implications for people who keep their money in banks in every country. As a result of this situation in Cyprus, there’s now fear that depositors all over southern Europe will take their money out of banks out of fear of this type of deal becoming a model for the next round of sovereign bailouts in general. A Washington Post blog article does a good job summarizing the situation:
The European Central Bank will now be on high alert, monitoring activity in Greece, Spain and beyond for evidence that the Cyprus precedent will result in new runs on those nations’ banks. Expect a flood of central bank liquidity into those nations if there is any hint that depositors across Europe seem to be thinking that Cyprus is the new normal and that their seemingly safe bank deposits could be reduced 10 percent without warning (LINK).
The “flood” of Central Bank liquidity referenced above largely refers to the Federal Reserve, which has been quietly funding a massive “ghost” bailout of the European banking system all along. For those of you who are unaware, 50% of the $1.8 trillion in the Federal Reserve bank excess reserve account is money that has been given to the U.S. subsidiaries of the European Banks who are Primary Dealers in this country (LINK). In other words, the U.S. is pretty much keeping Europe from collapsing right now.
Without that flood of U.S.-based liquidity into the European too-big-to-fails, there is no question that either interest rates in the ECB system would shoot through the roof in order to attract capital OR the ECB system would be insolvent. The reason the Fed is the savior in this process is that U.S. too-big-to-fail/prosecute are inextricably tied to the fate of ECB banks via a massive and deadly web of OTC off-balance-sheet derivatives.
The Cyprus situation may in fact ignite a run on the banks in Europe and – for those paying attention in this country (which isn’t very many) – a small run in this country. Myself and others have been advising people to keep only a minimal amount of cash in the banking system for quite some time. The reason? Even though great pains have been taken by DC/Wall Street to ensure us that “the water is fine” in the banking system, the world is one unforeseen “small” event away from a global liquidity crisis. Quite frankly, anyone who can read and think, and who still trusts the banking system in this country, is either incredibly naive or tragically stupid, especially after Eric Holders wonderful Senate testimony two weeks ago about the big banks being too big to prosecute for crimes.
Why is any of this relevant to gold/silver? Again, for those who are paying attention and understand how corrupt and fragile the global fiat-based banking system is, the best alternative is – and has been for the last 12 years – to move as much money OUT of the banking system as possible in INTO physical gold and silver that is privately secured outside of the banking system. Don’t think for one second that bank deposit confiscation and bank holidays are limited to obscure Grecian islands in the middle of the Mediterranean Sea. This could indeed to be the spark that ignites the global flood of printed napalm paper currencies.
Jim Sinclair has another angle on why this largely unnoticed bailout of Cyprus could have major implications for the next big move in gold that is a must-read: LINK
Whether Sinclair’s scenario kicks into gear or not, this event is yet another signal for us that the fiat currency-based banking system is ultimately doomed and the only way to protect yourself from going down with the ship is to move as much of your paper wealth into physical gold/silver as possible. Capito?
Some people in Germany seem to wake up, they wanted to withdraw money on Sunday.
It was in some cases limited, in some cases not possible. Something is brewing.
This thing could spread and infect all Europe. If they steal money in Cyprus, they can steal it everywhere. This plan is old, the new German Mark has been printed
and is ready since 2010. In Mai 2010 information leaked and all bonds in Europe despite German bonds were not traded for a couple of hours, there were no bids at all!
The big haircut was then postponed, but it can happen every time.
Again, this is to give important information to everyone. There is no reason to fear this, because at the end of the day, it will free us from the dept chains. Paper money is not save since a couple of years and the situation is not improving, b’cause they just create more dept to fight dept, And as everyone can understand, this is no solution.
Habibi
Thx for info re Germany Habibi… Hong Kong has been trading a few hrs already, on their Monday morning open… Silver
Spiked up well over $29 then THEY struggled to hammer it back down where it stands now up slightly from Fridays close in ny…. Gold has spiked up well over 1600 and holding… This could be it as Sinclair predicted on the weekend?
Of course the more bullish the news the harder THEY hammer silver and gold… will it be different this time?
what transpired in Cyprus over the weekend should be enough to wake the world to withdraw all BANK funds and buy precious metals, I think is a real possibility and why I bring it up here… Got silver yet?
Yes thank You again Habibi for harpping the point again that this is not promoting FEAR … it is enabling Warriors to get necessary info, that They will not get anywhere unless actively seeking it out, so You can protect Your resin purchasing ability forever ok?
It really turns Me off when I get private Emil’s and messages from eW members telling Me I’m PROmoting FEAR … Almost
Makes Me wonder if You know WHOSE agenda Your promoting… remembr THEY THE FED, are actively doing what THEY have to do including MURDER anyone who opposes THEM!
“what transpired in Cyprus” ?
Nobody is making a secret over it, every news outlet has mentioned it and continues on it.
In fact it seems to be their whole point to get people to panic, so they rush to the banks and ATMs and withdraw their paper-money. If there was such a mass rush, then there could be riots and then you could have martial law in a part of the world where very few people have guns. Simple, isn’t it?
I don’t know if this is their plan but it seems a possibility. Cyprus certainly makes for a great testbed, being such a tiny country.
The same with paper-money becoming valueless. Does anyone here really believe that is not part of a plan? Are they not building this enconomical problem in a crescendo with a purpose? Fear is their biggest friend, let’s remember that.
After some 20 posts on the subject I think everybody here understands silver is a wonderful investment right now. I don’t think you need to hammer the same key over and over and over.
Carlos
just look how funny things come [Image Can Not Be Found]
http://slashdot.org/topic/datacenter/to … rcomputer/
TITAN becoming TITANIC
Carlos,
the good thing for us is,
There is no such thing as one mind pulling all strings. A lot of egomanic wulfes fight against each other to get some flesh.
You’re right that some want people to panic, or better to burn the banks down – This would be a nice pretext for martial law. Cypris might be a test field, sure.
On the other hand all money will be worthless (this is not under control of anyone, like a huge rock rolling downhill) and this means our savings will be stolen.
When we all take our savings in paper money and buy something good from it (needn’t be silver, of course), then it cannot be stolen from us. And here is the point:
They want us to panic, but not to flee from the money system.
So what we have to do is to stay calm, but pull all money from this corrupt system.
Habibi
Laurent, really funny!
They also talk about “too much gold” Huch?!
what transpired in cyprus Carlos is what I have been trying to warn EveryOne about in one of My 20 posts on this subject, a BANK HOLIDAY!
when is a BANK HOLIDAY coming to Your country"? no one can know so best to withdraw all YOur PAPER now and buy silver… guess that makes this number 21…
no People are not going to RIOT and burn BANK buildings, CRAP like that is only done buy paid CIA shills and THEY get found out very quick
these days thanks to the internet… a good example of that was the OCCUPY WALLSTREET MOVEMENT that We never hear about anymore…
what People will do though, is what I and Habibi and Others, have been suggesting is to withdraw Your FUNDS from THEIR corrupt system
and quietly purchase precious metals with it to protect amongst all else Your resin purchasing power…
yes I do think I need to keep hammering home the silver bullet point and will continue to do so, specially while I have time away from My massive gifting campaigns but they will be starting up gain soon, grid willing…. just a little busy right now with My beautiful little bouncing Baby Boy [Image Can Not Be Found]
yes that was hilllarious Habibi… " too much gold" rotfling all the way to the ATM for withdrawls to purchase silver and gold with the FUNDS!… did you know that in some countries they have purchase gold wafers through machines now…
Your quite right Gare, it wouldn’t be “normal people” that riot, only paid criminals but since this is also a matter of perception, to most people that would still look like riots, so the powers that were would have an “excuse”… They are quite versed in doing false flags, don’t you think?
As for exposure, you’re right about that too, parasites hate exposure. Unfortunately they are still not getting exposed every time. Here in Portugal for instance there is little to no “alternative media” to report on cases much more important than “occupy wall street”. In fact I can speak from direct experience, this is one backwards country when it comes to exposing real criminals and corruption is very ingrained, something I know the distribution of orgonite will help turn around.
As for silver, well hammer all that you like. I personally find it troublesome when I’m getting as tired from reading an EW post as from browsing main stream media websites so I think it’s time for me to have a little break.
Carlos
Carlos,
When I began investing in Silver in 2002, there was no media couverage at all.
I do not care the mainstream media. They will neither encourage me to write nor will they prevent me. They just do not influence me in my opinion,
at least I try to.
What I want to say is, me and Gare are not promoting any mainstream media disinformation, they promote paper silver anyway, and even if they recommand physical silver, well,
why shouldn’t we write what we think is best? The mainstream media managed to prevent the public buying big amounts of gold and silver, so far. Just forget about those bastards.
If you disagree, where is the problem? If you’re tired about reading this financial stuff, I can unterstand this, still in my opinion it’s important and that is why I will not stop
giving important informations. This is too critical to keep silent.
Habibi
The WTC towers was a display of transmutation at the atomic level. It’s possible to mutate any element up or down the periodic table. Your local dump will be your next source for any of your needs.
I recieved an email from Deflionkon vancouver about the e-cat so it this new tech is going to be available soon.
interesting to bring up the point of the local dumps Brent… I’ve long said that land that dumps reside on from the 1980’s onwards will become the most valuable land in the near future… Why? cause they will be mined for there silver content of course!
Yes free energy! will be glorious and I can’t wait… Till then I need silver to assure Me of My resin supply…
Your referring to Judy Woods dustification of the TOWERS right?
lobby your local professional engineering association, there the ones hidding this technology.
to those Warriors with MONEY in US BANKS please look at this chart and You decide whether its safer to have MONEY in a US BANK or in precious metals in Your possesion?
Earlier today, the American Banking Association reminded Americans that there is absolutely nothing to worry about when it comes to the sanctity of US deposits: after all there is a whopping $25 billion in the FDIC insurance fund which means "insured depositors are safe and their deposits are protected by a strong FDIC fund….The FDIC insurance fund has over $25 billion in reserves and the banking industry " Obviously supposedly “insured” depositors in Cyprus also though there was nothing to worry about, until they woke up on Saturday with a haircut between 6.75% and 9.9% on their money in the bank. Sadly, it may be the case that the ABA is being just modestly disingenuous in its statement. Why? Instead of explaining it in detail, here is a snapshot that does more than thousands of words ever could.
Chart drawn to scale.[Image Can Not Be Found]
The $25 billion in touted deposit insurance is supposed to preserve and protect (granted not in their entirety) some $9,283 billion in total US deposits. A far bigger problem, however, is when one considers the “asset” side of the US banks’ ledger: remember deposits are unsecured liabilities. And for US banks, sadly, over the counter derivatives represent the vast majority of “off the books” assets. According to the latest OCC quarterly report, the total derivative notional outstanding of the Top 25 holding companies is $297,514 billion, or nearly $300 trillion. In other words there are 32 times more notional derivatives than there are total deposits, while the ratio of gross derivatives to deposit insurance is a concerning 11,900-to-1.
And with that, we hand it back to the ABA to comfort all US depositors that Cyprus could never possibly happen in the US.
gare, you are right on spot [Image Can Not Be Found]
usmint sells nearly 34 million silver eagles in 1 day post cyprus announcement
http://www.silverdoctors.com/usmint-sel … ouncement/
There should be a backwards slash ‘/’ between the 3 and the 4 there Laurent but 750,000 slver eagles is still huge one day sales From the US MINT… I hope YOur All getting YOur share while You still can at these fire sale prices Gifters…
Here’s a good read on the cypress BANKSTERS theft(BAIL-IN)…
“Bail-In” The Next Phase Has Begun
Pete Shostak
March 23rd, 2013
The rate which monumental global events are emerging has accelerated in 2013. Now, with all that has taken place in Cyprus over the past week, the stakes involved are of magnitudes greater.
As the world economic crisis continues to morph into an untamed monster with an insatiable appetite, the financial wizards invent ever more destructive “tools” to keep the beast fed. The problem is that instead of killing the beast, they just keep feeding with the fruits of our labour. Rather than following the example of Iceland, who arrested their bankers and proved that the debt was the banker’s and not Iceland’s, the rest of the Western world sells out the workers – the savers – the middle class.
The paradox here is that the bankers (the cartel of national treasury officials, financial regulators, Western central banks and the mega banks) pretend to be working to save the global economy, but in reality they are doing everything possible to devalue all existing wealth that is denominated in fiat currencies. Instead of letting the risk takers collapse when their bets fail, the technocrats are secretly stealing our savings, assets and future earnings; and then giving it to the banks via bail outs of newly created currency units.
This past week that has all changed. Instead of covert inflation of monetary systems to “bail-out” the banks, they now are transitioning to overt seizures of savers deposits to be used to “bail-in” the banks. This has incited much controversy and negative attention to bear on the troika of the European Commission, the European Central Bank and the International Monetary Fund. Declarations of a major blunder by the troika have been coming in from all over. Then, after the Russians (who use Cypriot banks for offshore deposits and transactions) confronted Cyprus; the Cypriot Parliament voted against receiving the EU bailout for personal health reasons.
In only a few days the situation has transformed again. Not only is Cyprus back on board with the bail-in plan, but they are currently negotiating how much they are going to seize from the accounts of depositors and how much of their sovereign gold is to be surrendered. Apparently the new threats from the troika are now more terrifying than those from the Russians.
While on the topic of gold, it is interesting to note how many countries are having their gold raided by NATO after imported “rebels” topple existing governments, such as Libya. Recently Germany demanded all of their gold to be returned from France, and eventually from the US and UK. Within days France was invading Mali, with the assistance of their NATO partners, and conveniently Mali’s sovereign gold was enough to meet the German demands.
How does this gold angle fit into the Cyprus situation? I believe the answer came from Jim Sinclair this week. Jim Sinclair is a very experienced, successful and well connected operator in the gold market. Earlier this week, Jim alluded to a new and surprising development in the gold and silver futures market in New York. In the gold and silver futures market, almost the entire short side (those who expect or want the price to fall and who are supposed to posses the physical commodity) is dominated by the big banks such as JPMorgan Chase, HSBC and Scotia Mocatta. Recently, in the past month or so, the hedge fund speculator class of traders has taken on an enormous short position in gold and silver, and that is after the price of those metals has already gone down.
Why would the speculators take on such a large and risky position expecting gold and silver prices to go even lower when they appear poised for a substantial increase? Sinclair believes that word was given to these hedge funds that money printing was going to abate, which would result in a stronger US dollar and Euro dollar while other currencies continue to be devalued. This seemed extremely unlikely given the amount of debt servicing, program funding and Quantitative Easing that is taking place.
However, technocrats are forcing Cyprus to confiscate depositors’ cash, rather than raising funds from future production of their gas fields. It is clear that the bankers are now moving to take savings, ratifying capital controls and thus triggering runs on the banks.
Is it too early to claim this is not just a one off event and that it will spread to other countries like Italy, Spain, and Portugal; who are discussing this very thing right now? I was recently alerted to an article in the 2013 Canadian Federal Budget that was released two days ago. On page 144 of the budget, is an article titled:
“Establishing a Risk Management Framework for Domestic Systemically Important Banks”
One of the elements of this risk management framework states the following:
“The Government proposes to implement a “bail-in” regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.”
Bail-In? Where have we heard that before? How long does it take to produce a federal budget like this and how long has the “bail-in” plan been coming at us? After MF Global went down, the world learned about re-hypothecation. After Cyprus situation, the term Bail-In is about to go global and it will trigger the next phase of the engineered collapse. I love how they surreptitiously refer to deposits in banks as “bank liabilities”. As in “rapid conversion of certain bank liabilities (deposits) into regulatory capital” (aka: confiscation of our after tax dollars).
The coming bank holidays, capital seizures and public unrest are sure to be met with militarized police forces, riot squads and military units in the streets. They continue to punish the savers and to reward those who have engineered the collapse of society.
And those hedge funds who are seriously short on the Comex in NY? They will be crushed like bugs under the weight of their short positions, when gold and silver are widely realized to be one of the last stores of wealth that will endure. My recommendation to all is to recognize that bail-in means to get out of the corrupt banking system while there is still time to do so …
Gold Bank Run Begins? Dutch Bank ABN Amro Halts Physical Gold Delivery!
http://www.silverdoctors.com/dutch-bank … -delivery/
fun must go on [Image Can Not Be Found]
