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NIRP Strikes: Spain To Create Tax On Bank Deposits
It was a little over a year ago, just as the Cyprus deposit confiscation aka "bail in" was taking place, when we asked, rhetorically, if "Spain is preparing for its own deposit levy" when an announcement by Spain's Finance Minister, Montoro, hinted at the imminent arrival of just that.
Specifically we said:
While Spain's economy minister Luis De Guindos proclaimed in the Senate today that bank deposits under EUR100,000 are "sacred"and that "Spanish savers should stay calm," Spain, it would appear, has changed constitutional rules to enable a so-called 'moderate' levy on deposits - as under previous Spanish law this was prohibited. For now, they claim the 'levy' will be "not much higher than 0%" and is mainly aimed at regions in Spain that have "made no effort to collect taxes" based on new revenue expectations.
As El Pais reports, the minister of finance and public administration, Cristobal Montoro, defends the need for such a 'levy' in their constitution on the basis of standardizing taxes across regions (and is preparing a proposal on the amounts to be paid) and although it would appear that while the European Commission could previously argue that such a 'tax' would violate the free movement of capital in Europe, it now leaves the door open to eventually effectively taxing the deposits.
Of course, back in March 2013 imposing such a tax would immediately bring up images of parallel bank runs in Cyprus and visions of confiscated deposits, culminating in an immediate collapse of the otherwise already insolvent Spanish banking system. In other words, the timing picked by Montoro to reveal what was coming couldn't have been worse.
Now, however, things are different.
Not only is Europe supposedly recovering, not only is the Cyprus bail in a distant memory (until it comes back front and center with a bang), but it was only a few weeks ago when the ECB - desperate to crush the same EURUSD which just two years ago seemed would implode under the weight of Europe's artificial political and monetary union - revealed NIRP, aka ZIRP on steroids: a negative deposit rate.
Or, as Spain may have called it, a tax on deposits. Because some 16 months after it was first hinted, its time has finally come, and as Bloomberg reported a few hours ago:
- SPAIN TO CREATE A TAX ON BANK DEPOSITS: MONTORO
The details are along the lines of what is already known:
- Advances to be boosted by almost EU3.9b, Budget Minister Cristobal Montoro tells reporters in Madrid.
- Tax on bank deposits to be created: Montoro
- Tax rate on deposits to be determined: Montoro
- Montoro and regions’ budget chiefs to meet in July
Or just as El Pais reported over a year ago:
The Minister of Finance and Public Administration, Cristobal Montoro, has advanced on Tuesday that the government will impose a type "moderate" to bank deposits to compensate communities that saw their tax autonomy canceled after the Executive created a state tax 0% rate. This tax on bank deposits, which has nothing to do with Cyprus, does not affect savers but requires credit institutions to pay for that capture deposits.
"The autonomous communities receive timely and therefore financially compensation shall implement a moderate rate in the state tax on bank deposits," said the minister, adding that this kind "will not be much higher than 0%" .
The Minister of Finance has clarified that such "moderate" will have no tax collection effort, "but that these regions serve to offset the revenue loss to see." So, he assured that the amount will correspond to the amount "exact has been undermined by the cancellation of regional taxes".
...
The Government announced in November 2012 the creation of a tax on bank deposits with type 0%, with implementation on 1 January 2013, to prevent the regions implement your own. A week earlier, the Constitutional Court had endorsed the tax on deposits of Extremadura, which launched in 2001 and turned in the day the government of José María Aznar.
Thus, this tax was in force before the imposition of the 0% and in the case of Andalusia, the Canary Islands in 2010 and established, who created it in June 2012. Only after it established Asturias. So this type Montoro 0% justified by the need to standardize the tax system and maintain the unity of the internal market, after the European Commission will send a letter to the Government on the grounds that these taxes in the regions could violate the free movement of capital. While leaving the door open to eventually effectively taxing the deposits.
In other words, the funding of the Spanish regions is now in the hands of those dumb enough to work hard and save their money. Because it is only "fair" that they - not the banks that year after year are bailed out by the ECB - end up with the short stick.
But please don't be surprised: after all as we said on June 5 when Draghi revealed that "NIRP Has Arrived" when we said that "Europe Officially Enters The "Monetary Twilight Zone." It is all downhill from here.
And yes: coming to an insolvent country near you... everywhere.
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Oh boy
Dame mi dineros en euros ahora gracias...
Llegando a un teatro cerca de usted.
"SPAIN TO CREATE A TAX ON BANK DEPOSITS: MONTORO"
Easy solution.
- write a check : memo "because it's mine and not yours"
- buy gold
- take the gold boating
- let the looters recalculate the required tax to account for the shrinking deposit base
Ai! Que la CHINGA!!!
The hint means that not all of his friends have their cash into hard assets yet.
This is a clue.
This of course is compound negative interest. They don't take the money out until you actually withdraw it (even though the bank has it) and then charge you compound interest back to the date of the highest amount you had deposited.
If you willingly "deposit" your "money" into Crazy Clown Bank and expect a "return" on/of your "money", you's a sucka chump, Puta !!!(puta, wait a second, isn't that "faggot"?) (don't want to be offending anyone)(this is way too complicated, going to have another beer, because beer is a gift from God and can't possibly be wrong).
...Obambo will never allow "Direct Govt. Bail Ins"
He will utilize a safer method to protect American Citizen's savings....like "MYRA".
sarc off
Heads up: Any US citizen/resident with a foreign bank account in excess of 10k collectively has until July first to file an electronic disclosure online.
And what if you don't keep it in the bank? Do you still have to disclose? Is there a method for detection? (ie paystubs reported to IRS or some such nonsense)
Edit: This is all hypothetical of course. So, NSA, you have no reason to follow up. ;-)
Bank run.
So the "banksters" want the common folks to not deposit their money into banks anymore? This is too confusing..
Exactly. They sure know how to drive depositors away. What are they gonna do then?
They don't need depositors. Depositors were a liability (until they invented bank fees, which itself wouldn't have done too well before the invention of direct deposit).
Don't you know? Banks borrow at 3% and lend at 6% and that's how they make their profits. Hehehehe ... did I say 3 and 6? What is it these days? Borrow at 0.25 and lend at 5,13,18 and 30? Sorry, I'm not a banker, I'm a little out of touch.
Oh yeah, and then they sell the piece of paper so some other shmuck carries the risk - probably your pension fund ...
"puta" is "whore", isn't it? Or used to be. I think it is now a sort of general all-purpose bad word.
So, jolly rude, TeamDepends. Wash your filthy mouth out with beer.
Whore = Puta
Faggot = Maricón
Beer = Cerveza
And the word you need there is "Gilipollas", witch is kinda like Asshole, but a bit stronger.
The true tragedy is that all this theft solves nothing. The depositor's stash is insignificantly small when compared with the problem it is supposedly solving. The debt will still be there and growing. Did I say growing? Well, when the plebs have less with which to repay their debts that's two lots of compounding going on.
On another level: The thieves got away with it, no-one tried to stop them, they will come back for more.
OK, so Spanniards should take their money out of the banking system and crash the fucking banks. How long are people going to continue getting fucked squarely up the arse by the financial oligarchy?
Same thing happening here except they are printing the money and devaluing the dollar while it sits in the bank. No difference from taking money out of your deposits by taxing it lol. In Spain they can't print extra money so this is how its done. Endgame is the same. Time to buy an 'old' boat and a high quality life vest and go fishing wearing all your gold chains, and take some pics of yourself dockside with a few pounds of gold chains around your neck lol before the terrible accident.
The term "banksters" has never been more appropriate.
'I pity the fool' who lost their gold chains in a boating accident.
Copyright: Mr. T (for Tungsten)
BTW: Don't forget to claim the loss of your gold from yout tax return. If you are in the 30% bracket, you can recover 30% of its curent value.
Any links on how to make gold chains out of 1Kilo bars?
I want to look like that Indian dude before the trajic capsize event.
Thanks in advance.
OT...BringOnTheAsteroid...
Replied to your serious question. Post #4900439 I hope that you got it.
Humans are animals. However it seems that a major difference is that we are "self aware" whereas other animals are generally not.
Read it. You may be surprised.
That is WHY Isaac Newton died as a virgin as he read it in Greek with the understanding.
http://www.zerohedge.com/news/2014-06-25/todays-global-warming-propaganda-brought-you#comment-4900439
Best regards.
Yep, got it TT. I don't think you quite answered my question, or was the answer to my question reflected in Corinthians 7?
Self-aware extends to the great apes and dolphins and jeez it'd be fascinating to understand how they perceive the world. I wonder what notion, if any, they have of their existence. I wonder if the great apes ever had the equivalent of an Issac Netwon, an ape so smart that it sat there and contemplated why it was here. It'd be difficult I would have thought to have any coherent, logical thought processes without language, but that is for another discussion.
You know for those people who attend Trinity college, they may well sit in the very same seat Issac Newton sat in as a student. Pretty cool when you think about it.
Kind Regards mate.
>>OK, so Spanniards should take their money out of the banking system and crash the fucking banks.<<
But do banks actually need depositors these days? Isn't that a rather old fashioned view.
Correct nixy. Banks will only need depositors if they can not get unlimited, cheaper funds from elsewhere. HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA ...
So why do banks need depositors??? Well, when you borrow money to buy a house, the bank likes to "encourage" you to repay by getting control of every single cent you earn before you do ...
... and while I'm here, perhaps we can ponder the meaning of direct deposit and electronic money ... in a cashless world, the banks have 100% of the money 100% of the time, depending on the accounts of you and your local shops the money may not even change banks when you buy stuff ...
no no, they made illegal any +2500 cash payment, your cash is worthless.
this possible negative interest rate will only apply to rich (+100k)people.
You ain't seen nothing yet. Wait till they get rid of all Cash, and get you to use only electronic devices or microchip implants.
Eternal global slavery, via digital currency tracked in real time -- that is their penultimate goal.
And that will be the checkmate move for Gold.....Gold will then become the Ultimate black market money......
i think you mean bitcoin, right? get bitcoins
everything outside their control is fine with me... gold, silver, bitcoins, who knows what else the free market comes up with in the future, etc...
That's right... if the free market is left trying to experiment with new forms of money we will get innovation and privacy (the ultimate goal of every money).
If we let bureaucrats and sociopaths define what our money is, we get slavery.
penultimate means second to last. totally not what it sounds like fyi
Silencio por favor
I love the picture's URL: "banksters_robbing_sheeple.jpg"
Hey, los Españoles, utilice "Banco de Serta, Sealy y Posturepedic"
Sin preguntas, sin cuotas, completa privacidad, Acceso 24/7.
Lamentablemente, un reino así no hay...
agachate
'Get down'.
'Agachate'.
The Spanish people are being forced to 'Assume The Position'.
This reminds me of an old metal song from the 1980's.
http://www.youtube.com/watch?v=_63GOjgV6vQ
That shit didn't work out too well, in 2005, when they burned the Torre Windsor building (36 hours, no collapse...):
http://www.youtube.com/watch?v=nz-WVJ0zeXE&feature=player_embedded
The sparks of the Tempest are being ignited.
FUCK the bankers who tax savings and try to give negative interest!
To make your post in English press ocho.
en boca cerrada, no entran moscas
/ I have no idea on what this means. some spanish chick kept repeating this to me on our first and only date...
It means that the only way you have not to say something stupid is bein quiet.
It means that the only way you have not to say something stupid is bein quiet.
Gracias a Dios por el traductor de Google!
I don't speak Spanish, but I understand that.
The most used verb in spanish in chingar. The lead that chingar holds will only multiply.
What a phucked up World.
I fucked up. The verb is actually chingarse. It is a second language...what the fuck are you going to do.
'Chingarse'.
it is the present-tense base verb, I think. The 'root word' you might say...
'Chingarse' is the present-tense verb root meaning '(to) fuck'. For example, in formal Castillian, 'Tu chingas su Madre' means, I think, 'You (are) (currently) fuck(ing) your mother' (present tense). THIS is also used as an insult, as well (as in, 'you mother-fucker' [present tense, of course]).
No, you didn't fuck up (I don't believe).
'Oy, mi chingaran Dios!' sounds the same when she comes for you as ''Oh, my fucking God!' does, when doing the baser things. Well, I'm not Spanglish, so perhaps my transliteration is incorrect; but you get the idea.
Amazing how Google translate butchered the article above, but perfectly translates the comments....
in south-american spanish maybe.
YES... it's true, the world is certainly phucked. While Spain taxes its citizens bank deposits, the United States isn't far behind. Furthermore, the U.S. Shale Energy Industry took a turn for the worse as DECLINE RATES increased substantially in just a mere seven months:
Decline of U.S. Shale Energy & The End Of Precious Metal Manipulation
http://srsroccoreport.com/decline-of-u-s-shale-energy-the-end-of-precious-metal-manipulation/decline-of-u-s-shale-energy-the-end-of-precious-metal-manipulation/
looks like the gov't. is eyeing South Dakota Badlands for a land grab - wonder what the frackin' agenda is??
Congress is not representative of the people of the United States. I dont know what mind alteration those dumbfucks go through when they go into DC and enter Congress but something is mighty fishy.
Hello Vladimir. This is chief running deer of the Cheyenne Indian Reservation in South Dakota. We have taken a vote, a sort of referendum similar to the Crimea vote and we wish to become part of Russia. Can you roll the tanks?
the Lakotah have been "seeking sovereignty" including "independence from the US" - in 2007 there was much activity around this, including forums set up for comments, plans, etc.
there was much friction around the time Russell Means stepped in as "leader" - past personality discord, among other things. . . while progress was made in some areas, the momentum waned.
there are some great ideas for "sovereignty" - particularly when viewed through the lens of all that is happening globally, fractures/friction/deliberate flashpoints - so it is inevitable that the .gov would focus on this territory, hoping to squash any "resistance" before it ignites. . .
10 bucks an acre and a 1 year supply of frozen Freedom Fries...
Take it or else.
looks like the gov't. is eyeing South Dakota Badlands for a land grab - wonder what the frackin' agenda is??
Wow. The Feds are STILL fucking the natives? I thought that shit was over and done with.
Plus ca change...
So where are the oligarchs keeping their cash? They always seem to get their $$ out before the peasants get fleeced.
Well if the oligarchs are hard to trace then just follow the members of Congress. Those mofos always know about it before it happens, especially those with lots of dough, like Feinstein, Pelosi, Boxer, Reid etc
Chingar is mexican, not spanish.
In spanish it's say "follar".
Pinche Sionistas guste todo mi dinero!
Bullish! American Indexes should get inflows from the EU depositors fleeing their banking system.
why would anyone exchange a deflationary currency for an inflationary one?
Please, make this insanity stop. My brain hurts.
DavidC
The USSA is almost there.
I go to bank:
banker: How about you transfer some of your non-interest paying checking account money to a savings account that pays you interest?
me: How much interest (per year)?
banker: 0.02 percent annually.
me: State and Federal tax on that?
banker: yes
me: goodbye
I suspect pretty soon Janet and Barry are going to put their tiny little heads together with Jack Lew and start printing Federal Reserve Notes (AKA dollars) as Federal Reserve Coupons complete with expiry dates...
US Dollars are only backed by US debt to furture US dollars, turning dollars into debt either makes the backing clearer or makes the backing more circular if that is such a thing. At this point the concept of modern money is just absurd.
funny that it's called a tax when in fact it's confiscation.
what's the difference between this and National Socialism again? "We just haven't invaded anybody yet but will shortly"?
"Madrid es muy Real" too?
Or is it "reales"?
It depends if you mean that as "real", witch it is, or as "royal", witch, sadly, is too.
I suspect pretty soon Janet and Barry are going to put their tiny little heads together with Jack Lew and start printing Federal Reserve Notes (AKA dollars) as Federal Reserve Coupons complete with expiry dates...
Your sarc may not be too far off of reality. There is growing evidence that the US has plans in place to implement a two tiered currency before the end of this year - FRN's that are to be used only within the continental US and the "regular"/existing FRN's that will only be used, or honored, outside of the USA. The new "in-country" FRN's (called the "Shit Dollar" by the GoldenJackass, Jim Willie) will be immediately devalued versus existing FRN's by 30-40%, and ultimately to be devalued by close to 80%. Welcome to hyperinflation in the good old USA.
the 8 million barrels of oil we're producing "sucks ass"?
how about the trillions of cubic feet of natural gas? "fuck that too"?
i mean the price of coal has collapsed. how can the American people possibly have a problem with heating their home?
"because we don't have an all electric drive system built yet!"
oh, wait....
can't be all that debt we've produced. "no wait...the interest rate on that should be 15% by now!"
oh wait...
I dont get it, why devalue our inhouse dollars and not devalue the outhouse dollars lol
Because we're within rifle range...
Should this come to pass, the government will have a lot of angry and armed Americans looking to shoot first.
and just what do you think they've been preparing for?
Look how corrupt the government is. Sure, the freedom fighters will be outnumbered, but as the Fedcoats continue to spend their way into oblivion, how will they motivate their troops?
Bet you anything they will drag out all the A list celebrities and they will explain to the American People what a wonderful thing the new dollar is and blah blah blah. I can see Kim Kardashian or Lady Gaga or Beyonce all three wearing dresses made from the 'new' inhouse dollar etc. Even Brad Pitt and George Clooney will pimp it, all the while their money is safe into land, gold, silver etc.
Preparations...
Think: UN....
Yes, the vision is true.
This, too, shall come to pass...
The time is closing in on the events predicted from time immortal.
In the long run, all things assume the dictate of the Second Law Of Thermodynamics. If you don't understand after 21 weeks, try re-reading the ZeroHedge formulation mantra thingie. 'On a long enough timeline, the survival rate for everyone drops to zero'.
It's not a matter of IF. It's a matter of WHEN. The WHY and the HOW are already evident. The WHERE is also self-evident (it's going to be EVERYWHERE).
SO:
When the CHOOMSTER and his minions started to import teenage gang members from South America in order to destabilize the CONUS, were you down there taking targeted shots in order to kill as many as you could? Ask yourself this question in a few days or weeks.
WHO is this foreign occupying/invading force, and WHERE do they get their funding from; and WHAT is their goal? WHEN are they trying to take your rights as a human, and WHY do you sit complacently and allow this to happen?
I forgot the last part. My 'Media' teacher described the letters as 'the 5 W's and the H'. The 'H' stood for 'HOW'.
HOW are they taking over this nation? HOW in the HELL did Congress pass the 'Federal Reserve Act' while on HAITUS on December 23, 1913? I could go on with this one... but it might begin to answer the first question: WHO.
I suppose you still think that this some type of 'theoretical mental excersize'. After all, you may have been taught from your 'teachers' that EVERYTHING is 'NOT REAL'. I evidence YOUR concerned post preamble; to wit, "Should this come to pass".
NO.
It IS coming to pass, before your eyes.
Wish it would hurry up.
Should this come to pass, the government will have a lot of angry and armed Americans looking to shoot first.
FDR did it back in '33. Do you recall reading about widespread civil disobedience on that occasion?
Me neither.
That would clearly welcome hyperinflation... i declare shenanigans and poppycock.
DON'T GIVE THEM IDEAS.
I am certain that they, TPTB, are not getting their ideas from us. If they were then they'd stop the madness if it is not already too late.
(I am sorry, pal. That is just the way that it is.)
Heavens to God Almighty, Light the Lights and Sing Praise be to our Statist Leaders.
What a sure means to cultivate confidence in the system and stimulate consumer spending.
Do these people want to be hung in the town squares or am getting the wrong impression?
you got to admit, it certainly looks like someone wants to light the world on fire these days...
Dave Mustane.
Cyprus was the ice...Spain is the slippery slope...Europe will be the Ice Capades.
Although, I think the Ice Capades will perform world wide once it opens.
"the Wehrmacht is ready."
http://en.wikipedia.org/wiki/Panzerhaubitze_2000
interestingly the USA built a better one in 1999 but it got cancelled.
http://en.wikipedia.org/wiki/XM2001_Crusader
probably wouldn't have gone over too well having "the Crusader" lobbing shells into various Cities and towns throughout the Middle East.
twice the rate of fire of the current "best of the best" (above) with double the range (40 miles!)
the best we have now is a Naval Gun.
http://en.wikipedia.org/wiki/Advanced_Gun_System
104 tons seems a bit on the heavy side for a land attack vehicle. still can't shoot as fast as the Crusader. still...with a range of 83 nautical miles (90 miles line of sight?) that's pretty impressive. gives new meaning to the term "reconnoiter."
knukles, one day wez is going to long for the dayz when they only taxed our bank deposits...
All right, so what IS the incentive to keep money in a bank at all then? What do these bastards have to DO for people to get the message? If they decided tomorrow to demand the right of Prima Nocta over all depositors, would you take your money out THEN? Huh? Would THAT do it?
How do these banks even HAVE depositors at this point?
Of all the new taxes that could be created this is by far the stupidest.
I suggest a new event for the 2016 Olymics: The Bank Run
Going for the gold in that event would be a fantastic incentive!
The new biathlon... get your money then get your gold...
The bank run is an interesting game. The only losing move is not to play.
The Spanish Government's next move is to also tax bank withdrawals
sometimes i wonder if you people here just post a comment about the caption without reading the article. What I read, in a quick perusal was that the banks were going to be taxed for their deposits. While banks may pass this along to their clients/customers (0.00 % interest on deposits instead of 0% interest on deposits), depositors are not the target yet.
Isn't a withdrawal different from a deposit?
Oh, they are going to tax the banks' money? I always thought it was "our" money.
Once you put YOUR money in a bank, it becomes THEIR money. It's in the fine print.
"Demand deposit" is a clever name..kind of like "federal reserve".
well...where i live we still make mattresses actually (see below.) The answer to the question "why have money in the bank" is because it is (suppose to be) safer than having it in your pocket or house. (I was asked this question by gal at the bank just a while back. "Why do you even want your money in a bank" she queried. And I answered "because the twenty grand in my pocket didn't seem all that safe." Obviously as the inflation grinds on at some point interest rates will come around to reflecting this reality.
"Apparently this is not true in the Spanish Main."
Crazy.
The first thing "ISraIL" did was rob all the money. Might have to start moving the tanks into various banks in the USA and make sure that doesn't happen in the USA. It's not like that military hasn't been paid for.
re " 2016 Olymics: The Bank Run"...
He who runs first, runs best, but still gets the gold-clad tungsten medal.
What need do banks have for the little people (depositors)?
They get trillions in essentially free money from the Govt/Fed (same thing).
They then do risky, high-leverage/margin speculation in the Markets (drivng DOW up).
(good for them$$$$ and good for Obaba ("Economy is great! Proof: look at the DOW").
Thus raking in huge profits.
And when they guess wrong and lose trillions, why the "taxpayers" (Govt) bails them out.
("Steal from the poor, to give to the rich....")
Obaba: the reverse Robin Hood.
I was actually thinking that incorporation would be the way to go. ALL of us incorporate, every citizen with an LLC after his name, then we can deduct all our expenses, shield our incomes from taxes, get government subsidies to enlarge the kitchen and sponsored immigrant labor to do the work.
After 6 months, we take the thing public, attract tons of venture capital funding, then decide to move our operation overseas, (Costa Rica sounds nice...) and get more subsidies to build our new house on the beach, for which we pay no taxes to Costa Rica because we are now considered "valued foreign investment" by the Costa Rican government, and if they don't help us we'll tell the IMF on them, and sue them under our laws even though we have no standing in Costa Rican courts. So nyah, nyah, nyah...
this is def bullish ... for mattresses ... the new commodity
Keep buying those Spanish bonds Pimpco.
Spain 10Y 2.659 2.632 2.662 2.622 +0.027 +1.03% 0:58:18Right, that's what they want so when they default, it's ALL their money
Banks - where criminals congregate to prey on the population..
"Spain is set to create a tax on bank deposits."
The bank of Box Spring and Mattress will see a pick up in business.
The mattress method does not work in a Zimbabwe scenario. Its the basic operating principle of FIAT, they can print the paper in your mattress into worthlessness. You need hard assets that are convertible and cannot be seized for national security reasons. This means your gold and silver coins (& bars) may ultimately be safer in a bank safe deposit box in Havana. Funny, but true.
So are they going to put limits on cash withdrawals too? And if they do limit withdrawals then they run the risk of sparking hyperinflation due to the rapid increase in the velocity of money. I can see where most smart people would just go out and buy PMs to get rid of their Euros.
Wow, May you live in interesting times indeed....
They may or may not put limits on cash withdrawals. Untimately, they'll just elimintate cash, so you won't have that option. See previous ZH articles on the subject.
The test bed for pure electronic currency is...Bitcoin.
And if you believe that they cannot do fractional banking with Bitcoin...
Look up Mt. Gox and the subsequent default.
Congratulations to the "finest" for demonstrating that Bitcoin can be manipulated by CBs through exchanges.
Bitcoin...think the NSA won't be able to mess up bitcoin accounts?
Agree. Bullish for precious metals and black markets.
Sounds like new highs to me; in the not too distant future. Ka-ching. Oh boy...
Just one more confirmation of why I opened up a local branch of Cowdiddly Ass National. And besides that debit- credit thingy always was on the wrong side.
"coming to an insolvent country near you... everywhere."
Social Unrest
We will soon get to see what limits a crisis can render. Always too good to waste.
Why does anyone still keep any substantial amount of money at a bank? For the whopping .5% return? Just stuff it under your mattress, or a coffee can in the fridge. Or do something really smart and buy some hard assets. They might come after those some day as well, but at least make them work for it.
Why does anyone still keep any substantial amount of money at a bank? For the whopping .5% return?
Tradition.
These bastards know that only a few sheep will stray before they set up the electric fence. Cyrprus is old news...and...still...people still entrust large sums of money with the banks.
You keep money in the bank when you think one of the other bubbles will break before the dollar bubble.
It's speculation, but so is everything.
They want you to put all your money in the market, so when they take it there you can't really complain.
Great poignant analysis. No sarc.
I'm so glad that we live in the US where they haven't done a NIRP or taxes on bank deposits; instead, they created the world's biggest national debt and expect "We the People" to pay for it. /sarc off
For now, they claim the 'levy' will be "not much higher than 0%"...
That is what they always say for every new tax. But in 5-10 years it will likely be "not much lower than 100%".
Got bitcoin ?
Yes.
If you haven't done it already...
GET YOUR CASH OUT OF THE FUCKING BANK.
A fuckn progressive wet dream. All those banks accounts and so little time.
Banco centro chaqueteando. ¡Ay, puñeta!
This is why I don't have a bank account. My gold at the bottom of the lake is protected by the firm Beretta and Schnauzer.
Sorry to hear you lost your gold. Better luck with your next purchase of gold bullion.
Thank god I don't have much *cash* in the banking system...what *money* I did have was lost in a boating accident.
Me too. Freak storm.
Mine hit an iceberg in Lake Michigan.
Don't worry boys with these droughts it will be easy for you to find your gold as the lake levels drop, and you can then give it to the govt for new currency dollar bills or ELSE.
The new Bureau of Lake Management and Gold Repatriation will be glad to help you. The NSA will provide all the info they need about you.
new beowolf how ya doin bud.
listen i am looking for a nice fishin lake for a relaxin vacation can you send me a duck duck go google map of your local lake.
cheers buddy : )
ps can a walmart 12 dollar china metal detector with built in clock and radfio detect gold and diamonds
underwater?
Here we go. Bank runs.
Oro, perraz
If things get rough across the globe expect eyes to return to problems in Europe, where they continue to talk. I have not written much about the Euro-zone as of late because nothing is really happening. The Euro-zone is engaged in a talkathon.
With fear of an immediate collapse off the table the members of the Euro-zone much like their political counterparts in America just talk about solutions without any action. For us in America news from across the pond dribbles out in small doses with almost daily media boost of promises that things are getting better. For more on all of "what is not happening" see the article below.
http://brucewilds.blogspot.com/2014/04/euro-zone-update.html
ellos son ladrones y atracadores y genitales y bastardos
Fucking bankers
'and, it all started with 'TBTF's'! Butt, rather than follow the age-old... tried and true bankruptcy laws, we abandoned all hope and capitulated, when Mr. HankY sucked all the oxygen out of the` ouija boardroom #101... '
Hank Paulson should be perp-walked to the nearest lamp post and hanged, kicking and squealing, and writhing, and wriggling, until his feces and urine runs down his pantlegs and onto the ground.
The guillotine is much too humane for Tribal demons like him.
A bad haircut, in this case means you have been robbed. That may be the case if the government reaches in over a long weekend and steals money from your bank account. This is a horrible precedent to set, and the worst part may be how some people are letting it slip out that it would be fair, or in some way justifiable if it is only on the larger accounts.
It is fine if it only impacts the savings of someone else, the savings of what they see as "the wealthy", the problem is someday they may come for you. I shudder to think what kind of world our children will live in.More about what happened in Cyprus in the article below.
http://brucewilds.blogspot.com/2013/03/a-bad-haircut-seizing-bank-accoun...\
i have the patent on the locking mattress. i'm gonna be rich!
how do you spell "run on the banks" again?
I seem to have forgotten