All Gov’ts Acknowledged The Cyprus Model for Bank Bailouts is It
The Cyprus solution was in fact discussed at G20 levels. Numerous papers are starting to surface from Europe to New Zealand where government is accepting the idea that the next time bankers blow up the world, they can just take the deposits. This is even surfacing in Canada.
We submitted our proposal to save Cyprus and in fact we could have turned the tables on Europe and the tail would have begun to wag the dog with economic political pressure.
Cyprus Proposal - Cyprus 3-26-2013
When banking emerged from the Dark Ages, it was all about youPAYING them to keep your money safe. There was no LENDING of your money to a third party. This is what Private Banking was all about. The Wisselbank was founded in 1609 in Amsterdam. While one paid a fee to have an account at the bank and there was to be no lending of money, what emerged behind the curtain was in fact the Wisselbank lent money both to the government in the City of Amsterdam as well as to the government sponsored Dutch East India Company. This became public in 1790 causing a real panic that forced the bank to be taken over by the City of Amsterdam in 1791. Eventually, the bank was forced to close by 1819.
With the evolution of time, what began as a fraud of lending out depositor’s money had been consistently carried out so the crime became simply the way to do business. Today, this has evolved one step further. Banks are no longer satisfied lending your money to someone else, which has been justified as financing the economy and creating more jobs. Today, they just use your money to speculate – heads they win – tails you lose.
The fraud has emerged into trading with other people’s money that by NO MEANS furthers the economy and creates no jobs beyond those hired to trade inside the bank. After Solomon Brother got caught with its hand in the cookie jar manipulating the US Federal Government Treasury Auctions, the Alma Mater of Mayor Bloomberg, Goldman Sachs allegedly appears to have conducted a reverse takeover of government Robert Rubin became US Treasury Secretary & with the Fed Chairman orchestrated the repeal of Glass-Seagall that allowed banks to trade anything. The 2007 Crisis would NEVER have unfolded but for the repeal of Glass-Seagall.
We are on the edge of destroying Western Civilization. When the economy turns down from 2015.75, this time instead of them cutting a check for $700 billion to the bankers, they will give them their blessing to just take your money outright. This is checkmate – the M.F. Global/Cyprus solution..
The Grand Facade of civilization so soon will burn. We are without a voice. The press is no longer free and has been bought off, the courts are hopeless, and we are without representatives in government. Instead of listening, they prepare to take the right to defend away from the people under the pretense of making the streets safe when the criminals do not go to stores to buy anything. They prefer to buy enough illegal bullets to shoot every citizen 5 times and plow down the streets with tanks. All of this rather than reform. They never plan beyond the next step. Just what the hell do they think they are doing? Is this a world they want for their own children or are they just blind to their instant greed?
The Euro is Dead – Long Live the Dollar
Our phones have been in meltdown mode and sleep has been rarer than gold around here. Whatever politicians could do to screw up the world, trust me, they are diligently at work to accomplish that goal even ahead of schedule. The logic coming from the ECB, France, and Germany leaves a lot to be desired. Policies of hunting down the rich, the French refusing to reform, the Germans insisting upon austerity, and the ECB advocating the confiscation of depositor’s money setting off bank runs which are starting to emerge in Southern Europe, are all combining to present a picture that if it were used for a movie, nobody would believe such events were even possible.
You just can’t make up this stuff. I find it amazing that people withZERO qualifications regarding management of the economy are the very people who are making these shocking brain-dead decisions that defy common sense. Then they call academics with no experience at all to agree with this insanity. At least summon people who man the dealing desks at banks and compel them to speak and the banks to stand down. One analyst at Deutsche Bank has come out and said only Jesus could save the Euro now.
The French solution to record high unemployment, create more low paying state jobs with no spending cuts. They just will never get it. If you raise taxes, chase the rich out of the country, who is left to provide jobs? The French solution – Government of course! What the hell, France is headed into a brick wall at 100 miles per hour. Why not speed it up to 150 miles per hour and pray you can break through the wall? Of course no one knows what lies on the other side of the wall. Perhaps a cliff with the sea waiting below. Politicians never worry about that. It is just the here and now – never tomorrow,
Hollande must have misplaced his mind. He is now planning a mega-tax for the middle class who cannot leave. The wealth tax for incomes over a million euros per year has completely failed resulting in mass migration or just hoarding of wealth altogether. Now President Hollande wants companies with a corresponding revenue over 1 million euros to pay up to 75 percent tax for their employees. He is just insane. What’s next? He will dress up as Santa Claus and rob the houses of the middle class to give to anyone who votes for him?
Even before the start of the EU summit, there are about 15,000 protesters who gathered in Brussels to make their voice heard. Government is simply incapable of comprehending the mischief they are unleashing or of the havoc they have inflicted upon the entire world. Marxism failed! Did they miss the fall of communism in Russia and China? Did they notice the Berlin is no longer there? Hollande seems entirely oblivious to any common sense and is still very Marxist ignoring the failed theories.
The oldest surviving bank, Banca Monte dei Paschi di Sienafounded in 1472, is now facing bank runs thanks to Cyprus. But this story is more complicated. The bank lost tons of DEPOSITOR’Smoney trading derivatives – sound familiar? The key role was played by the then Italian central bank chief and ex-Goldman banker, Mario Draghi, who is now at the president of the ECB today! So yes, Goldman’s tentacles reach deep into the heart of Europe and the ECB. You just cannot make up the shit yet the newspapers never see anything wrong in the shadows. Why? Are they just owned by giant corporations dependent on the bankers as well?
The U.S. Embassy has now warned Americans in a report before traveling to Greece that there is rising violence towards foreigners in general. The Greek politicians try to dismiss any concern swearing Greece is a safe country. The anti-German contingent is really starting to rise. Greece may be headed for Revolution in 2014 after what they saw the ECB do to Cyprus. Nobody bothered to consider if you shut the banks to prevent capital outflows and protect banks, then you likewise shut them down to accepting new deposits. So exactly how does the economy move forward? Did anyone ask that obvious question?
So while the Euro will bounce back to retest the Monthly Bearish Reversal it elected at 12975 if we see a daily closing ABOVE 12866 on the cash, no rally seems likely to extend beyond next week. Even gold is plummeting because of the dollar is the ONLY place to go for big money. I have been trying to explain that the total open interest for Gold futures in New York is only about $75 billion. That is nothing in comparison to $17 trillion in outstanding debt. Capital has been scared to death globally. I have been warning that the USA would be the LAST to fall. This is by no means my OPINION. This is basedSOLELY upon hard research and the sequence of events that has historically taken place. It is time to wake up and understand what the hell is really going on in the global economy and stop this primitive nonsense or trying analyze anything from domestic opinion. It is crazy out there. You better duck!
Meanwhile, Ex-Goldman trader Taylor pleads guilty to wire fraud and says in NY court that management at Goldman had no idea about $8.5 billion trade. If that is true, how can firms like Goldman and J.P.Morgan function without controls? This is way too many rouge traders with the potential to wipe out NYC singlehandedly?
Perhaps only Jesus can really clean up this mess. Washington, the regulators, and the courts have no stomach for it. What they fail to grasp here is they are pulling out the foundation stones to the whole global economy. You do not play with this stuff – it is far worse than running with scissors or playing with matches which obviously their mothers never disciplined them as children and told them to stop.
