Posted: 05/02/2013 12:41 pm The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus. Similar “bail-in” policies are now appearing in multiple countries. (See my earlier articles here.) What triggered the new rules may have been a series of game-changing events including the refusal of…
The Western nations really truly sincerely need a wake-up call on reality, and it is coming as a paradigm shift with shock waves. When the coming dust clears, the evidence is plain that the change to be seen will be dead banks in dissolution with private bank accounts vacated. In other words, razed leveled banks…
I’ve been pointing out for several months now that the recent rally in the dollar was a mirage, an illusion generated by the yen, euro, pound, and Canadian dollar all dropping into yearly, or intermediate cycle lows together. This selling pressure in the four major currencies that make up the dollar index spawned what looked…
We are about to get an epic deluge of economic releases from around the world over the next three days, and we should learn a ton about the current state of the global economy. It all starts tonight with South Korean exports at 8 PM ET. This data release is referred to as the “economic…
The reason is that unlike the owner of the bushel of wheat whose ownership of the wheat WAS NEVER TRANSFERRED to the warehouse owner when the same was deposited, the moment you deposited your money with the bank, the ownership is transferred to the bank. Your status is that of A CREDITOR TO THE BANK…
“We’re just going to kill the dollar.” This week, I had a series of very sobering discussions with my highly-placed source within the intelligence world. The information he provided hit me like a proverbial tons of bricks. It connects everything we are seeing play out across the world, from the economic problems in Europe to…
Be prepared for the next great transfer of wealth. Buy physical silver and storable food. Submitted by Patrik Korda via the Ludwig von Mises Institute, Bitcoin has been all the rage lately. The stuff, or lack thereof, runs on peer-to-peer technology, is fully decentralized, has no patents, and is open source. Currently, there are almost…
Dr. Jim Willie of GoldenJackass.com says powerful forces around the globe are working to do away with trading in U.S. dollars because of massive money printing by the Fed. Dr. Willie says, “The world makes a reaction, and what they have done is create, slowly but surely, a U.S. dollar alternative for trade.” Dr. Willie’s…
Have you ever done something really stupid, just because you were in love? Something you look back on and cringe, thinking “why on earth did I do that?” Of course. Who hasn’t? Fear. Love. Panic. Exuberance. Jealousy. Desire. These emotions have tremendous influence over human behavior. And when they kick in, they skew our judgment…
The CEO of Unicredit Federico Ghizzoni said yesterday that it is “acceptable to confiscate savings to save banks.” He said that the savings which are not guaranteed by any protection or insurance could be used in the future to contribute to the rescue of banks who fail and that uninsured deposits could be used in…
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