Get Your Money Out of the Bank - A Crash is Coming

http://threatjournal.com/

 

Get Your Money Out of the Bank - A Crash is Coming

March 22, 2013

What You Need to KNow

DISCLAIMER: We are not licensed financial advisors. That said, there is more than enough information readily available, as well as more than enough experts sending up warning flares, to make the following statement: Your money is no longer safe in the banks. Pull as much as you can and move into historically safe assets and means of storing wealth such as gold, silver and other tangible holdings. Leave only as much in the bank as is needed to keep an account open and to cover monthly expenses. Leave only as much in the bank as you are willing to lose. Any wealth you have accumulated, including that contained in your checking or savings account, which is represented in the form of a paper IOU (stocks, bonds, mutual funds, CDs, etc..) is in EXTREME danger. The Cyprus Banking Crisis was the start, though this has all been planned for several years. Banks in Cyprus, like most major banks in the U.S., Europe and Asia, are basically insolvent and being kept afloat via deceptive accounting, low interest rates and bailouts. This has been brought about by poor/risky bank investments and loans. In order for the Cyprus banks to get a bailout from the "Troika" (the International Monetary Fund, European Central Bank and the European Commission), the government is being pressured to cover some of the banks losses by taking money directly from the depositor's accounts (the checking and savings accounts of the average citizen) and calling it a "one time" tax. This is outright theft. The powers that be are knowingly attempting STEAL money from average hard working citizens who played no part in the creating the crisis, instead of allowing the bond / stake holders to take the write downs and losses. Bank accounts in Cyprus are supposedly insured against losses to a certain level, just as U.S. bank accounts are supposedly insured by the FDIC. But since the grab at depositor money is being referred to as a "tax", this is not considered a loss. Keep this in mind when they try the same here in the U.S. The same wealth tax on depositor accounts has now been proposed in Spain, New Zealand and Italy. though it is safe to assume that each and every government official around the world is waiting to see what kind of backlash results. (The same could easily be visited upon U.S. citizens simply by paying (or should we say charging) NEGATIVE interest rates. The net result is that you would be paying banks to hold your money, instead of them paying you. The result is the same.) This grab at depositor money in Cyprus was announced last Friday after the close of business. Banks stayed closed on Saturday, though before noon all ATMs across Cyprus were empty as people lined up to pull as much money from their accounts as possible. The banks remained close this entire week and capital controls have been implemented in order to prevent the banks from being completely drained (I.E. a bank run). Capital controls are also being considered across Europe in order to attempt to prevent a rapid flight of wealth away from the grabbing hands and to keep insolvent banks across Europe from collapsing. It is highly likely this will happen. Reggie Middleton of Boom Bust Blog lays it all out succinctly here. At a minimum, watch the interview with Max Keiser here. Additionally, consider how much money has already been created out of thin air and injected into the system. In order to help you visualize this staggering amount, look at this chart of the U.S. Monetary base (representative of money printing) provided by the Feds. This chart alone screams that serious inflation is on the way. Each dollar printed waters down the purchasing power of the U.S. dollar in general. To help visualize this concept, check out this chart showing the reduction in spending power of the U.S. dollar since 1960. Many high profile insiders are also sounding the warning bell, including:: Nigel Farrage, Member of the European Parliament, describes the theft underway. Fmr. Asst. Treasury Sec Dr. Paul Craig Roberts discusses the MASSIVE market rigging (click the MP3 icon). Gerald Celente of Trends Research Institute sounds the warning (click the MP3 icon). More information can be provided, though we hope the case has been made. The system is about to come crumbling down. Protect yourself by moving into safe assets that cannot be printed at will.