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You Will Not Be Warned When the Bank Holidays Come
Behind the veneer of “all is well” being promoted by both world Governments and the Mainstream Media, the political elite have begun implementing legislation that will permit them to freeze accounts and use your savings to prop up insolvent banks.
This is not conspiracy theory or some kind of doom and gloom. It’s basic fact.
In the last 24 months, Canada, Cyprus, New Zealand, the US, the UK, and now Germany have all implemented legislation that would allow them to first FREEZE and then SEIZE bank assets during the next crisis.
With that in mind, I want to devote some time to what has come out concerning the Cyprus “bail-in” and its implications. The reason for this is that this tiny country has provided the world with a template of what is eventually going to be a global phenomenon.
The quick timeline for Cyprus is as follows:
· June 25, 2012: Cyprus formally requests a bailout from the EU.
· November 24, 2012: Cyprus announces it has reached an agreement with the EU the bailout process once Cyprus banks are examined by EU officials (ballpark estimate of capital needed is €17.5 billion).
· February 25, 2013: Democratic Rally candidate Nicos Anastasiades wins Cypriot election defeating his opponent, an anti-austerity Communist.
· March 16 2013: Cyprus announces the terms of its bail-in: a 6.75% confiscation of accounts under €100,000 and 9.9% for accounts larger than €100,000… a bank holiday is announced.
· March 17 2013: emergency session of Parliament to vote on bailout/bail-in is postponed.
· March 18 2013: Bank holiday extended until March 21 2013.
· March 19 2013: Cyprus parliament rejects bail-in bill.
· March 20 2013: Bank holiday extended until March 26 2013.
· March 24 2013: Cash limits of €100 in withdrawals begin for largest banks in Cyprus.
· March 25 2013: Bail-in deal agreed upon. Those depositors with over €100,000 either lose 40% of their money (Bank of Cyprus) or lose 60% (Laiki).
The most important thing I want you to focus on is the speed of these events.
Cypriot banks formally requested a bailout back in June 2012. The bailout talks took months to perform. And then the entire system came unhinged in one weekend.
One weekend. The process was not gradual. It was sudden and it was total: once it began in earnest, the banks were closed and you couldn’t get your money out (more on this in a moment).
There were no warnings that this was coming because everyone at the top of the financial food chain are highly incentivized to keep quiet about this. Central Banks, Bank CEOs, politicians… all of these people are focused primarily on maintaining CONFIDENCE in the system, NOT on fixing the system’s problems. Indeed, they cannot even openly discuss the system’s problems because it would quickly reveal that they are a primary cause of them.
For that reason, you will never and I repeat NEVER see a Central banker, Bank CEO, or politician admit openly what is happening in the financial system. Even middle managers and lower level employees won’t talk about it because A) they don’t know the truth concerning their institutions or B) they could be fired for warning others.
Please take a few minutes to digest what I’m telling you here. You will not be warned of the risks to your wealth by anyone in a position of power in the political financial hierarchy (with the exception of folks like Ron Paul who are usually marginalized by the media).
With that in mind, now is a good time to prepare for systemic risk. I cannot forecast precisely when things will get as ugly as they did in Cyprus for the financial system as a whole (no one can).
However, the clear signals are clear that the Feds are preparing for something big. The Treasury Department has ordered survival kits for the Big Banks’ employees… and the NY Fed is expanding its satellite office in Chicago in case something major happens that forces the market to collapse.
We’ve put together a FREE Special Report outlining the new legislation that permits This is just the start of a much larger strategy of declaring War on Cash.
Indeed, we've uncovered a secret document outlining how the Fed plans to incinerate savings to force investors away from cash and into riskier assets.
We detail this paper and outline three investment strategies you can implement
right now to protect your capital from the Fed's sinister plan in our Special Report
Survive the Fed's War on Cash.
We are making 1,000 copies available for FREE the general public.
To pick up yours, swing by….
http://www.phoenixcapitalmarketing.com/cash.html
Best Regards
Phoenix Capital Research
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In Cyprus bail-in all the insured deposits were protected. So a Cyrpus-style bail-in doesn't need to worry anyone whose deposits in any single bank do not exceed the insured limit US$ 250,000 in the US and € 100,000 in the Eurozone. Very few individuals are likely to be holding more than that kind of money in a single bank and hence unlikely to be impacted by such a bail-in. So almost all of those impacted in such a bail-in will be businesses who have no choice but to hold their working capital in the banks as deposits. Once their liquid working capital is converted to illquid bank shares, they will have to borrow from the same banks for their working capital or fold. Many small and medium businesses will probably fold or downsize heavily.
Would love to read one of these articles that does not come with a FREE report.
Are we going to get a warning before PMs are confiscated - again ?
Why anyone would have more than just a token amount in the bank is beyond me.
Because they're morons?!
I think the warning to get out will be something like.. We have been experiencing some techincal difficulties with our payment software, please be assured Banks will reopen on Monday.. ( not )
I just want to know how much liquidity Phoenix Capital has? At this point.... they might need a Bail-in!
Actually there is a warning...it happened in Mexico in the 1990s and in Argentina in 2001 and Cyprus in March 2013...it goes like this...'The central bank would like to assure all that the currency is sound and all rumors of problems are false'.
When you hear that you'll have 24 hours max to get out.
Oh silly Pheonix Capitol, one day you'll get something right. Facts mean nothing in this manipulated fraud system. They have been predicting a major bull run in PM's for years, they have been predicting stock market crash for years. And they have been wrong, regardless of the facts.
Thanks to modern technology, a stopped clock is no longer right twice a day, since you can't read the LED display when it's on the fritz.
This guys is redicously accurate with his market calls and says a market crash will not come with bank holiday. => http://www.bit.ly/1OjUHXw
I do not think the market will crash, and you can see how careful the fed is with their calls, they are very hawkish right now.
Fed is like a LED light, they say something and then switch off, its like they are trying to catch traders out by kicking them in the balls mid flight, and saying "you have been had"
We keep melting up, the fed comes out and says they will raise rates, the market dips a bit, then they say, no no wait, we were wrong, no rate rise this month, and the market rallies for weeks on end after that. The bears must be crying in their soup right now.
Yeah, but what about my day trading account? Surely they won't steal that.
You will loose the funds in that account all on your own since one cannot beat a rigged and discombobulated system where fundamentals and technical no longer count. Unles you are on the inside at Goldman Sachs.
Join the club.
well duh.
This should probably have been mentioned from two weeks ago.
http://www.telegraph.co.uk/finance/economics/11947986/EU-takes-member-st...
"The referral comes after the Commission issued a warning against Poland, the Netherlands, Luxembourg, Sweden, Romania and the Czech Republic for their non-compliance earlier this year."
Seems somewhat uncharacteristic!
You Will Not Be Warned When the Free Pamphlets Run Out!
Seems like this same article ran about a month ago.
I thought they saved the reruns for Thanksgiving week.
I am of the firm belief that this could happen any minute now! FREE! It doesn't get much better than free!
1oz Silver American Eagles €12 @ EurGold
https://www.eurgold.eu/silver/american-eagle-1oz-silver-coin-1-dollar-le...
Welcome to the new home of fearmongerers and coin peddlers.
Excellent news. I need a fucking holiday , it will be a nice surprise. Will the family be invited along as well ?
Ummm...have you seen what the opposing team has fielded for information? Fear mongering and coin peddling look positively unsullied by comparison.
What are you selling, BTW?
If you want PollyAnna, MSM would be more to your liking.