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.
Central bankers lie because they draw all of their power based on the fact that they are beyond oversight or regulation. The minute they lose this power, it becomes obvious that Central Banks and Central Bankers are one of the primary causes of the financial system’s problems.
Ordinary bankers lie because if they were honest, their banks would collapse, they would lose their salaries/ bonuses, and they would very likely face legal actions.
And finally, politicians lie because many of them are receiving kickbacks, bribes, and other benefits from the banks.
Cue Cyprus…
A list of Cypriot companies and politicians that allegedly had millions of euros in loans written off by the three Cypriot lenders at a center of an unprecedented banking crisis on the Mediterranean island has been forward to Cyprus's parliamentary ethics committee after its publication in Greece's daily Ethnos newspaper.
According to the revelations, Bank of Cyprus, Cyprus Popular Bank (Laiki) and Hellenic Bank -- which were earlier this week acquired by Greece's Piraeus Bank -- has forgiven companies, MPs and local authority officials millions of euros in loans over the past five years.
The list reportedly features the names of politicians from all Cypriot parties except Social Democracy (EDEK) and the Social Ecology Movement (KKO).
http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_29/03/2013_490679 [7]
The point here is that one of if not THE primary role for the political/ financial elite is to maintain confidence in the system. These folks will NEVER EVER admit systemic risk is present until it is far too late to prepare for it.
Case in point, the Bank of Cyprus, the bank that just imploded and STOLE clients’ funds was voted Best Bank for Private Banking in Cyprus by EUROMONEY magazine in 2012.
No joke…
Bank of Cyprus has been named as the Best Bank for Private Banking in Cyprus, by the internationally acclaimed magazine EUROMONEY
Bank of Cyprus Private Banking ranked first among Cypriot, Greek and other international financial institutions operating in Cyprus in the Private Banking sector. This accolade classifies the Bank among the leading financial institutions offering Private Banking services and is yet another important international distinction for the Bank of Cyprus Group…
This recognition by EUROMONEY is ever more important in today’s macroeconomic environment as it reaffirms the Bank’s ability to safely and successfully respond to its clients’ financial needs and emphasizes its clients’ loyalty and trust.
http://www.bankofcyprus.com.cy/en-GB/Cyprus/News-Archive/Best-Bank-for-Private-Banking/ [8]
So do not expect to EVER hear a Central Banker, politician, banker, regulator or anyone else in a position of power warn you of the real risks to your wealth. Indeed, as Cyprus has now SHOWN US, the only people who WILL be warned are the elite’s cronies. Indeed, as RT reports 132 companies had insider knowledge of the “bail-in” in Cyprus, and moved almost $1 billion OUT of the banking system in advance.
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).
On that note, if you’re an individual investor worried about what Europe’s Crisis really means for your portfolio, we’ve published a FREE Special Report outlining exactly that. It’s titled, What Europe Means For You and Your Savings.
In this report, we outline the risks Europe’s banking crisis holds not only for those in Europe, but for savers around the world. We also explain how this crisis will most likely unfold, including which areas are most at risk in the financial system. And we cap it off by listing multiple backdoor plays on Europe that investors can use to profit from Europe’s Crisis.
You can pick up a FREE copy here:
http://gainspainscapital.com/what-europes-collapse-means-for-your-savings/ [9]
Thank you for reading!
Graham Summers