Cyprus told: take bank levy or leave euro
President, eurozone finance ministers and bailout troika hold emergency meeting as €100 limit imposed on ATM withdrawals
Wealthy Russians stand to lose billions of euros in Cypriot banks under draconian terms being hammered out on Sunday night in Brussels to prevent the Mediterranean tax haven becoming the first country forced out of the single currency.
Negotiations got underway [...]
A Ministry of Foreign Affairs (MFA) “urgent bulletin” being sent to Embassies around the world today is advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions “immediately” as Kremlin fears grow that both the European Union and United States are preparing for the largest theft of private wealth in modern history.
According to Kremlin sources, though, President Obama’s sudden visit to Israel this [...]
July 6, 2012, at 6:06 pm
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post
My Dear Extended Family,
Next week is the war between manipulation of gold by the West, and appetite for buying gold in the East, both from friendlies and enemies. Anyone that does not see today’s gold market as a rig is blind or brain dead. There is a full blown crisis in Western world banking today, right here [...]
Diana Choyleva is the bear in the China shop. The analyst from Lombard Street Research says last week’s China GDP figures – which revealed growth slowing to a three-year low – are an early warning signal of the hard landing to come.
Dig deep into the data, she says, and you’ll find that Chinese exports are falling. All that is propping up the economy is gargantuan investment in infrastructure financed by state- directed [...]
Here is an excerpt:
“The battle has expanded. It is no longer solely on price. It has focus on draining the crooked camps of their physical gold. The latest wrinkle is the revelation that the derivative sector is as corrupt as the bond core, as banks are liable for hundreds of $trillions they cannot pay following years of hefty ripe fees taken in. The constant backdrop since 2008 is that the [...]
As anticipated by LEAP/E2020, the second half of 2011 is seeing the world continuing its unstoppable descent into global geopolitical dislocation characterized by the convergence of monetary, financial, economic, social, political and strategic crises. After 2010 and early 2011 which has seen the myth of a recovery and exit from the crisis shattered, it’s now uncertainty that dominates the States’ decision-making processes just like [...]
By GEOFFREY T. SMITH? WSJ
“My centre is giving way, my right is retreating, situation excellent, I am attacking.”
Western banks are taking a leaf out of French Marshal Ferdinand Foch’s book at the Marne, choosing a moment of crisis to launch a massive counterattack against the regulatory onslaught they have had to endure over the past three years.
Since the financial crisis, they have begged and pleaded [...]
Gold rose to new record nominal highs in debt laden U.S. dollars, euros and pounds today due to the growing risk of a systemic financial collapse and fiat currency crisis.
Gold rose 0.5% in U.S. dollar terms to a new nominal record high at $1,602.05 per ounce. Euro falls saw the dollar rise 0.8% against the euro and gold rise 1.4% in euro terms to EUR 1,041 per [...]
Papandreou’s latest attempt to buy his failed regime some time, after last week reneging on his promise to step down (which certainly did not buy him any friends), was a speech to Parliament in which he told Greece the obvious “We had three choices.First, bankruptcy, second, leaving the euro, the third, helping the support mechanism that we created… The consequences of a violent bankruptcy [...]
by TraderMark at Fund My Mutual Fund
Some pretty amazing developments in the past 48 hours in the world’s 2 largest “easy money” central banks, that very few are talking about.Â If you are a conspiracy theorist this is one you are going to enjoy….
First over in Europe, the ECB’s head Trichet is facing the end of his term soon.Â It has been long thought German hawk (hawk [...]