Monthly Archives: March 2013

Don’t Hold Bitcoins; Krugman Won’t Like It

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“Paul Krugman has written about Bitcoins, and he has come to the conclusion that they represent a grim development.  Fortunately, no one is asking for Krugman’s permission to mine, hold, or use Bitcoin. He is not in charge of designing this emerging alternative money. As for making society rich, a main reason why Bitcoin is taking off is because people want to flee government paper money or at least have some hedge against government money and all that it brings with it. Bitcoin might someday save the economy from being destroyed by government and its economic advisers.”

http://libertycrier.com/finance/dont-hold-bitcoins-krugman-wont-like-it/

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A Really Good Deal

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Gerald Celente: The Financial System Is Collapsing Before Our Eyes

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“All Cyprus is, it’s (similar to) a division of the Grand Cayman Island, it’s just a different group of people washing and money laundering.  But this is about much more than Cyprus, bank runs, and stealing money from the depositors.  What we are looking at, Eric, on another level is an alliance, an alliance leading to wars.  Look, they just appointed a new President in China, Xi.  Where is the first place he went to visit?  Moscow.  Putin.  Then there is Iran.  So you can see the alliances already forming:  It’s China, Russia, and Iran, against the United States, the Arab League, and Nato.  And then you look at where the United States is now moving its military – Asia.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/22_Celente_-_The_Financial_System_Is_Collapsing_Before_Our_Eyes.html

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Cypriot president ‘warned his friends to move money abroad’ before financial crisis hit

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“Cypriot president Nikos Anastasiades ‘warned’ close friends of the financial crisis about to engulf his country so they could move their money abroad, it was claimed on Friday.  The respected Cypriot newspaper Filelftheros made the allegation which was picked up eagerly by German media.  The Cyprus newspaper did not say how much money was moved abroad but quoted sources saying the president ‘knew about the possible closure of the banks’ and tipped off close friends who were able to move vast sums abroad.”

http://www.dailymail.co.uk/news/article-2297383/Cyprus-bailout-President-Nikos-Anastasiades-warned-friends-money-abroad.html

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Pictures From A Cyprus ATM Line

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“For a few days, the people of Cyprus were calm, quietly and orderly accepting the unreality of the levy being imposed upon them – incredulous that it was even possible. As we reach the 4th day of bank closures, amid rolling rumors and ECB threats, it appears the people have reached a tipping point as this series of images from Cyprus ATM lines indicates – the bank-jog has arrived. When will it become a full blown sprint?  It appears the catalyst for this latest move is the ECB threat and EU concerns over the future of the two biggest insolvent banks: As AFP reports:  EU calls on Cyprus to set capital controls and merge 2 biggest banks Laiki and Bank of Cyprus.”

http://www.zerohedge.com/news/2013-03-21/pictures-cyprus-atm-line

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Housing: Addicted to Fiat Money

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“We are told that the housing recovery is strong. Then why is the best-performing new home building stock losing money?  The Federal Reserve is buying about  $40 billion worth of Fannie Mae and Freddie Mac bonds every month in order to sustain the present housing recovery. How is this market going to be sustained when the Federal Reserve finally stops creating half a trillion dollars a year worth of fiat money in order to goose the housing market? This is clearly the most manipulated market in the history of the United States. Bernanke and his associates have decided that it is the Federal Reserve’s job is to subsidize housing in the United States.”

http://teapartyeconomist.com/2013/03/22/housing-addicted-to-fiat-money/

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Bernanke Saying He’s Dispensable Suggests Tenure Ending

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“Rates have been low for so long that they have continued to facilitate rash borrowing. Now rates literally cannot be lifted without causing extreme pressure on US disbursements. Second, to keep rates down, Bernanke has virtually doomed the Fed to perpetual monetary debasement. No matter what happens, boom or bust, the Fed will need to promote huge inflationary programs.  Perhaps it is unfair to Ben Bernanke, but anyone examining the totality of his actions and their likely result would be tempted to come to the conclusion that he wants to leave before the proverbial house of cards comes tumbling down.”

http://www.thedailybell.com/28871/Ben-Bernanke-Has-Had-Enough

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Jim Rickards: Forget Cyprus, Nobody Is Stealing from Depositors More than Bernanke

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“‘At this stage of a recovery normalized interest rates should be around 2-3%,’ says Rickards. ‘Apply that 2-3%…to the entire multi-trillion-dollar deposit base of the United States of America and that’s a $400-billion per year wealth transfer from savers to bankers so they can pay themselves bigger bonuses or make crazy bets.’ Over time, Rickards says, that wealth transfer could reach $1 trillion.  Rickards says zero interest rates are just one way the Fed is fleecing depositors. Others include increasing inflation, which Bernanke is trying to do, and taxing deposits like Cyprus is pushing for.”

http://finance.yahoo.com/blogs/daily-ticker/forget-cyprus-noboby-stealing-depositors-more-bernanke-170851783.html

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Bank of Japan vows ‘all means available’ to smash deflation

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“The new team is much closer to the Fed and the Bank of England, but critics say the bank risks becoming a mere branch of the finance mininstry — where Mr Kuroda spent much of his careers.  The great fear is that Japan will lurch from stable deflation to an unstable price spiral that suddenly causes investors to question the integrity of the country’s 23 trillion public debt, the world’s largest.  The IMF says Japan’s gross debt will reach 245pc of GDP this year. It has been possible so far because banks have gobbled up government bonds worth 100pc of GDP but this makes the banking system ever more vulnerable to a sudden rise in rates.”

http://www.telegraph.co.uk/finance/economics/9946056/Bank-of-Japan-vows-all-means-available-to-smash-deflation.html

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New Zealand Plans Cyprus-Style Bank Confiscations

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“Is it coincidence or something more?  Globalists that are trying to create an international monetary solution often implement programs in various countries at once. The question arises as to whether Money Power itself – the banking entities and those behind them that control a good deal of the world’s wealth – have decided to ‘send a message’ about the relationship between citizens and their banks.  Cyprus and New Zealand are well down this road.  Is a message being sent to savers? Is this going to become the new normal in the West?”

http://www.thedailybell.com/28847/Now-New-Zealand-Plans-Cyprus-Style-Bank-Confiscations

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