The other day came news that the Cypriot banking system will be "off" on Monday which was "scheduled" and at least Tuesday which was not planned. The ECB and the IMF wished to cut 40%, and apparently agreed on the fact that the accounts in the range of €100 thousand will be reduced to 6,75%, and most of that amount — 9.9%.
It is clear that most of what is posted on the Cyprus — funds the rich Russian oligarchs and the mafia. This is a disaster on so many levels that I'm unable to count. First, what happened to law and right? I thought that in capitalist society the first lose money to shareholders, then preferred shareholders, after which the debtors, the first secured debt, then unsecured DEPOSITORS... absolutely at the end of the list of losing money. It's called a "tax", but in fact it is outright theft!
In this case, the depositors in the first list, which undoubtedly will cause panic and mass withdrawal of deposits in Cyprus... and then the panic spread to Greece, Spain, Italy and Portugal. Undoubtedly, this will turn into something ugly and HUGE, because the world revolves solely on trust and will not rotate without it.
Investors (savers) all over the world will see this and soon realize that law no longer exists and that "property" is now no more than 9/10 of the law. It is likely that within 2 weeks the entire system will be paralyzed.
First thought I had was "why". Why would the banksters to organize a banking panic to rip some 10 billion dollars, or even less? It's not even a pittance, and you can print them in an instant for free. They decided to blow it all to hell? The time has come? This is the price for 20 tons of heroin that Russia seized a week ago? What do they benefit from the intimidation of investors and encouraging them to withdraw all funds? It can't be a "mistake" incorrect anticipation of consequences, no fools. I would guess that this is aimed at the formation of "currency blocs". The Euro may split into "Northern" and "southern" currency, and Russia will relate to hard money in Northern Germany. I foresee Asian or possibly two Asian currencies, a South American currency and the currency of the USA/Mexico/Canada. Foresaw if Central banks are actively purchasing gold in recent years, this "event"? Probably Yes — so bought.
This week will be extremely interesting, to say the least. The rapid spreading of a banking panic? How wide? The main humor in the fact that the community of hedge funds are now the least long and most short the gold market than ever, to be exact, starting at least since August 1999, and we all know what happened then.
I have read many comments where people believe that precious metals will fall this week, as investors "accustomed" to deal with dollars as a "safe haven". I don't think so, "came the other times." In the past, the dollar has grasped the whole "safe Harbor" because it was necessary to teach the people. You have to understand that when EVERYTHING is under control, "the show" about the strong dollar and weak gold. Whether the situation in Cyprus is real, made out of stupidity or planned, whether generated REAL fear. And real fear will also cause the ACTUAL purchases of the metal.
Within two weeks the whole system may fall into a stupor. No stock trading, no banks, no credit cards. This will be followed by "distribution" or the lack of it, and shelves will be empty, even if you have the dollars to spend.
I'm not being dramatic,this event is quite capable of becoming the likeness of a forest fire. If this is still not reached, it will inevitably happen sooner or later, because in mathematics the current system there can be a balance. I can't believe this is a mistake, investors can be fooled only if you want the system collapsed.
Curiously, the gold was restricted to 5 months before THIS. THIS is a potential banking panic, which will not necessarily happen right now, but will definitely happen. For the last 5 months, every effort was made to protect owners from precious metals that they own, and to intimidate them in all possible ways. Since the late 90's, when "something bad" was happening in the financial markets, gold weakened and the dollar strengthened. It's not "right", but it is. Now we have another scheme. Those who now owns the gold, those who hold fast to him, now see him separated from his silent cold hands. All the rest are scared to such an extent that even the hedge funds together pressed tail and bet on a collapse... and this is the time of the event, able to bring down the global banking system. What I mean to say is soon to occur great changes, and they "authorized". I think so. Is it possible to avoid "Cyprus"? Yes, easy, only 10 billion confetti. And if NOT? Then go ahead, the wind will blow in the back of the precious metals, and all who waged a long struggle for the suppression of prices will be on the other side of the trade and will re-evaluate the position of the steeply. Hard to say, the picture becomes clearer at the end of the week. Those who gained during the previous month, buying gold and silver on the decline, probably very soon will be rewarded.
- 02-05-2020Four of the Americans ' Outlook: what will happen to the world economy and the US economy
- 21-02-2020The phantom menace: the non-obvious consequences of the depletion of nature for the economy
- 24-07-2019Look at the future of business: five trends postremoval era
- 23-06-2019Industrial revolution 4.0: how the Internet of things is changing business and how to stay afloat