Eurozone Financial Crisis
With all the financial shenanigans going on in Cyprus and elsewhere around the world, two quotes stand out to me...
"QE to Infinity, followed by Gold balancing the balance sheets of the sovereign balance sheet disasters. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold. It is just that simple." — Jim Sinclair
"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered." — Thomas Jefferson
These two quotes, in my opinion, sum up the terrible situation that has been allowed to take place in our modern world which will soon engulf everyone — not just this deplorable theft of personal savings accounts in Cyprus.
Thomas Jefferson fully understood what banksters would create for all of us if they were left unchecked to their own devices. They have been allowed to do so by the politicians they have bought and control. Because of this, they are now treated as a special class of citizen and can literally do no wrong. Anything they do is forgiven and papered over.
This is how a country devolves from being a nation of laws with liberty and justice for all... to a nation of men with absolute control for a few and abject misery for the rest.
Over the last few years, political and financial leaders in Europe and the United States have implemented policies, regulations, and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery. But it's been a pack of lies and deceptions to trick the public.
We've seen it time and time again over the last five years: Governments overstepping their authority and punishing their people because of the actions of elite banking conglomerates, dirty politicians, and bought-off regulators.
Unfortunately, what has happened in Iceland, Greece, Ireland, Hungary, Argentina, Spain, and Portugal in the last five years is just the beginning of far worse consequences that will soon wreak havoc throughout the entire world...
The game plan moving forward is the same rape and pillage routine in the name of purported recovery and stability, but on a much grander scale worldwide.
Today we're seeing it in Cyprus, where Eurozone financiers have threatened to not only rob the populace of their personal savings, but shut off access to bank accounts indefinitely. And, as we've seen elsewhere, the people are having none of it. Hopefully they fight back and win the day, but this activity will soon become commonplace in multiple locations throughout the world.
What happened in Europe a few weeks ago is yet further proof that nothing they've done has fixed the underlying fundamental issues surrounding the events that led to the crash of 2008.
The Cyprus situation, in my opinion, is just a trial balloon the banksters are sending out to see how much they can get away with — knowing they must implement these sorts of policies in many other places.
For those who don't believe the bought-and-paid-for stooges of any government are prepared to take extreme measures that may include the seizing of retirement accounts, cash savings, or even gold, look no further than Cyprus, the latest recipient of bank bailouts. The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every person who has savings in the country.
In a recent King World News interview, former Assistant Secretary of the U.S. Treasury, Dr. Paul Craig Roberts, talked about the crisis in Cyprus, "warning that banks are now moving to enslave humanity."
Roberts went on to say:
You see, this crisis is being used by the EU bureaucracy in Brussels to destroy the financial sovereignty of the individual countries...
That's what this is all about. They are saying, 'We can't trust you with the euro because you create too much debt. So we're going to decide your budget, your tax policies, and your spending policies.'
Trichet, the (former) head of the European Central Bank, he made this clear in all of his public speeches that this is where it was going. So what you see is the whole bailout, at the expense of the public, the purpose is to destroy the sovereignty of the individual members, and to concentrate the power in Brussels and in the private banks.
It's the same here (in the U.S.). Who runs the Treasury? Who runs the financial regulatory agencies? Who runs the Fed?
It's all of the executives of the banks that are 'too big to fail.' That's exactly who they are. So the various CEOs who got the banks in trouble are now running economic policy in the United States. That's essentially where it is headed in Europe.
Just as I talked about the derivative problem prior to the 2008 meltdown, I now believe the world is about to witness another round of derivative horror — and on a much broader scale than last time. The powers that be (banksters) and their bought-and-paid-for politicians fully understand what they must now deal with regarding failing derivatives.
How is it that people don't understand all the desperate measures we are currently seeing within our own government here in the United States?
As an example, why would the U.S. government start purchasing massive amounts of hollow point ammo rounds in addition to large purchases of assault rifles for several government agencies like the Department of Homeland Security and the Social Security Administration?
Anyone familiar with hollow point rounds understands that these rounds are for killing people — and not for training purposes, as the government says. Why would you waste money buying hollow points, which cost more than target rounds, if you are buying these rounds for training purposes?
It makes absolutely no sense to do so. Unless you have other motives...
According to an enlightening article written recently by Michael Snyder called, "The Coming Derivatives Panic that Will Destroy Global Financial Markets":
On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan.
The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance.
They also share a common secret: The details of their meetings, even their identities, have been strictly confidential.
According to Snyder, the following large banks are represented at these meetings: JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup. When the casino finally goes "bust," you will know who to blame.
Without a doubt, a derivatives panic is coming. It will cause the financial markets to crash. Several of the "too big to fail" banks will likely crash and burn and require bailouts.
As a result of all this, credit markets will become paralyzed by fear and freeze up.
Once again, we will see the U.S. economy go into cardiac arrest — only this time it will not be so easy to fix.
I gave similar evidence before the 2008 meltdown, and I am now giving readers greater warning signs now: From my viewpoint, everything points to another financial derivatives collapse that these elitist banking scum will use to take whatever they damn well please. The time frame is hard to gauge, but I believe 2014 is when the crap will finally hit the fan.
I base this on the fact that some very interesting data about the velocity of money and money supply have suddenly come together...
Since the 2008 meltdown, one question I have received more than any other has been: "Are we in inflation or deflation?" And during the last five years, I have told folks we are seeing both, giving the lowering of real estate prices as a basis for deflation and the increase in food, fuel, and medical costs as a basis for inflation.
Many very sharp people have made their case for a coming deflationary or inflationary crash, splitting the consensus down the middle as to which way things will go. I have stated my opinion quite clearly over the past five years that I believe we will go the inflationary route, not the deflationary scenario that many have predicted.
Now, the data seems to support the inflationary pundits like myself. In recent weeks it now appears that deflationary conditions are ending. When the velocity of money rises at the same time as the money supply, historically this has been the recipe for an inflationary catastrophe.
Richard Maybury of the Early Warning Report stated in his March-April report: "The great transition we've been predicting from deflationary conditions to inflationary conditions has arrived."
New fortunes will be built by those who are in non-dollar assets — like physical ownership of gold, silver, and platinum — along with raw land, real estate, raw materials, and precious metals mining stocks.
For now, the irrational exuberance will continue for the balance of 2013 as all the newly-created funny-money continues to give the economy a sense of false hope...
But come 2014 and beyond, the day for non-dollar assets will finally be a reality.
Our long suffering these past few years will be a thing of the past as we enjoy the profits that will surely come our way when the big inflation hits. Timely purchases now or over the course of the next six months in precious metals or quality precious mining shares will represent the last chances to purchase these items on a severe discount.
I realize our market is very quiet at the moment, and will probably remain so for the balance of this year...
This is a time for shrewd investors to pick up the best values at super cheap prices.
The only thing positive about the coming worldwide financial debacle is that we can make a ton of money off the stupidity of the system and be prepared as best we can for very troubling times.
I worry about those who don't have a clue and will suffer.
Until next time,
Greg McCoach for Wealth Daily