Cyprus haircutsIf one thinks Cyprus is too small to matter there is the matter of another small island, called Japan, and that does matter and that’s a $5 trillion  economy and 110,000,000 population that is screwing itself into the ground with Abenomics, another Keynesian clusterf*** of cosmic proportions that will kill the Japanese GDP and its people.

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Dammit,  wake the hell up.   If you want to see a city in this country that is close to being Cyprussed, look at  Detroit.
700,00 population, close to Cyprus size-  $20 billion in due bills–close to the bail-in (thus far) in Cyprus.
What is the difference???  This is an American city.

Last Friday Kevyn Orr, Emergency Financial manager for this totally and completely bankrupt city that said to the world at large—GUESS WHAT–no one is getting paid!
I read the article 3 times and my words below paraphrase what he said in a 2 hour meeting with creditors:

$40 million due Friday  NO PAYMENTS-PERIOD
$2,1 billion in unsecured creditors –NO PAYMENTS UNTIL FURTHER NOTICE
Retirees  90% haircut on your pensions—EAT SH** AND DIE OLD PEOPLE
Retirees, 90% haircut on health care funding—FORGET ABOUT EATING SH**, JUST DIE OLD PEOPLE.

Sorry about the profanity but this continuing cluelessness due to Confirmation and Normalcy Bias is going to get people killed in this country.
We are already seeing deaths in Turkey due to their riots and certainly suicides and deaths in Spain due to their ongoing financial clusterfu**.

Is there some sort of competition here about how bad things can get financially in Cyprus, Greece, Spain, Italy and Detroit?
They all have the same sickness—a death signal where 50-60% of the youth are unemployed and 25-30% of all age groups unemployed.
Does that sound like a small beer;  that the recent events in Cyprus do not matter?

No matter how small the country. Everything matters.  If it does not impinge directly on the world stage, it sets precedent that leads politicians and central banks to conclude that if they can steal small, they can steal big.  And if there is anything we have learned on SD, bankers love to steal big.  A trillion dollars is not enough for these bastards.  Thus the reason I am so passionate in being on this site and spend a lot of time opining here.

With all due respect to all those who post here, sometimes an assumption is wrong, just plain wrong and that can get people seriously killed.

If one thinks Cyprus is too small to matter there is the matter of another small island,  called Japan, and that does matter and that’s a $5 trillion economy and 110,000,000 population that is screwing itself into the ground with Abenomics, another Keynesian clusterfu** of cosmic proportions that will kill the Japanese GDP and its people.

When the powers that be decide to take a page from the ECB, the IMF and the FED that bail-ins are the next best thing to save a dying country and its banksters, the people, the savers and the industrialists of Japan will get rotoscrewed into the next millennium.

There, I said it and I won’t take back one word because if there is something I am today, it’s pissed off.  Of the 7 dwarfs, I ain’t Happy today And besides which,  my mechanic just called and said I need new brakes on my truck.



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  1. Kevyn Orr is a bankruptcy lawyer.  So, you can bet that is exactly where Detroit is headed.  What other choice is there really.  I don’t think there is much political will to engineer a federal bailout akin to New York City in the 1970’s.  Anyways I thought when the gov’t stepped in to “save” GM that was suppose to save Detroit, too.  Keep an eye out.  All this will be coming to a city near you in short order.

    • What I don’t get is that one of the GREAT strengths of the US financial system is that we have an outstanding bankruptcy system of courts and laws that is very well designed specifically to deal with problems of this type.  Unfortunately, we seem to have run out of people who have the guts, the brains, and the big brass ones necessary to actually USE it!  Seems as if we cannot use it anymore because it MIGHT cause someone some pain.  Oh, well.  S**t happens and all that.  :-/
      Capitalism is a superb system which is constantly rebuilding, reinventing, and remaking itself.  It cannot do that if we refuse to allow it to purge the excesses and prune the dead wood from itself on a routine basis.  Normally, this is a continuously occurring process, EXCEPT where there is no competition… or when the Fed or the Gov step in and hog-tie the markets, making economic decisions for POLITICAL reasons.  This is THE worst way to run an economy, ever.  The Soviets tried it and absolutely bankrupted their country, which then collapsed as well, fragmenting into multiple smaller countries instead of remaining as the USSR conglomerate.  If we persist in following their example, regardless of outcome, then the US will collapse and fragment into perhaps 7-9 multi-state regions.  These would be:  Alaska; coastal Washington, Oregon, and Northern Calif., and Idaho in a region likely named Pacifica.  Then would come the Rocky Mountain states; the desert SW states, including Southern Calif.; the great plains states, the mid-west farming belt states; the southern states including Texas; the mid-Atlantic states; and finally the NE states.  Hawaii is way the heck and gone out in the Pacific, so will likely have to fend for itself, if they can.
      Like Russia, the US is also resource rich but completely moribund via a bureaucracy that is totally out of control and consuming the nation that gave it birth.  Considering the current position of Russia in the world, perhaps all this collapse and reformation business is not such a bad thing.  It WILL result in several nasty years, however, as things get sorted out.  Got preps?

    • I could see that, @Ed_B, but maybe with less fragmentation. Or less after a period of Chaos…
      I think there might be 3 to 4 at most after it settles in. But you can bet, there will be about 50 
      different new “nation-states” for a brief period! 2 Colorado states if the timing is right LOL! 
      They are about to tell ChickenPooper to “go F*** yourself” @$$-hoe!

    • It is hard to say, isn’t it?  That there will be chaos is pretty clear but less clear is what will come out of it.  I can definitely see the states assuming a lot of their former power, though.
      Yeah, some of the people in CO are not at all happy with the libs running the state.  There are stories in the news these days about some of what is going on there and most of the damage seems to be self-inflicted.  I suppose that is more common than not these days.  It is one of those “We have met the enemy and he is us!” moments.

  2. I spent some time in Tokyo in 1990.  The property and stock market bubbles had just popped months before but nothing but total denial ruled the day. The country was still partying and American universities were still singing the praises of the Japanese model and how Japan was going to eat America’s lunch.  With the passage of another six months, fear replaced denial.  Eventually, modern QE was born in the land of the rising sun.  It would be somewhat ironic that the next FLOCK of black swans come out of Japan.   Certainly, many are looking for just that.

  3. It’s sort of funny, ironic more that anything,  (Detroit; it’s a tragedy wrapped in a farce contained on a crime scene), but in just the week since Detroit was declared a train wreck we have seen Cyprus back in the news as a brand new fiasco,   Greece’s deficit in the billions (again),   Co-op bank ready to bail-in to the tune of 1.5 billion pounds, US 10 yr treasuries just hit 2.50% (get ready for the big fugly),  China’s banking liquidity crunch forcing up the Shibor TED spread to double digits, the prince of peace ready to declare war in Syria,  the equity markets down 3-5%, gold and silver smashed another 10%, and new scandals rotating out of the KLUMAC administration like a cattle stampede
    The only good news in the last week, and it’s really great news, Silver Doctors edit button is back—-all is right with the world.  We can go into the weekend knowing there is hope for us all. Cheers
    As for the brakes, my mechanic put some hi temp pads and Brembo rotors. The tank can stop on a dime now. Mercury dime that is.

    • @AGXIIK
      Ha ha ha I must say the other night when you first posted this you had me LMAO. It’s a classic rant and good for Doc to elevate it into a topic. 
      But at our age we see all the changes around us and can’t help but to flip out lol. Sad thing Detroit is just one of many cities & countries on this globe, all in the same boat. The Titanic, The moments after hitting the iceberg! We can only wate and watch the unenviable sinking. The last gasp for air, but some made it out alive.
      Got a Life Vest?
      Got Physical?     

    • In other words, just another day in the human zoo?
      I’m glad that you did not use caps in your “prince of peace” comment, else I’d have thought that Jesus was pissed.  Not that he isn’t, of course, given the state of this old world after all his efforts to improve it. 

      Glad to hear about the brakes being replaced. I didn’t want to read here that you and / or the better half had gone through the windshield thanks to brakes that should have prevented a high speed impact but didn’t. :-O

  4. Just got this one from ly Old Dad lol
    Poor Stanley



    Stanley died in a fire and his body was burned pretty badly. The morgue

    needed someone to identify the body, so they sent for his two best deer
    hunting friends, Cooter and Gomer. The three men had always hunted and
    fished together and were long time members of a hunting camp.

    Cooter arrived first, and when the mortician pulled back the sheet, Cooter
    said, “Yup, his face is burned up pretty bad.  You better roll him over.”
    The mortician rolled him over and Cooter said, “Nope, ain’t Stanley .”

    The mortician thought this was rather strange, So he brought Gomer in to
    confirm the identity of the body.  Gomer looked at the body and said, “Yup,
    he’s pretty well burnt up.  Roll him over.” The mortician rolled him over
    and Gomer said, “No, it ain’t Stanley.”

    The mortician asked, “How can you tell?”  Gomer said, “Well, Stanley had two
    ass-holes.”  “What! He had two ass-holes?” asked the mortician.  “Yup, we
    never seen ’em, but everybody used to say, There’s Stanley with them two

    Cooter and Gomer are both now employed in the Obama administration.  One in
    the Cinncinatti IRS office and the other in the Justice Department.

    • Don’t know about scalar wavy things but I do know that a Mossy 590 with 8 rounds of #4 buck does a wonderful job of adjusting attitudes!  🙂

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