In the wake of Monday’s news that Cyprus depositors have official been scalped by the ECB and IMF, Jim Sinclair has sent an email alert to subscribers warning that If you do not exit the system now, you will not be able to exit the system, and that Capital controls and bail-ins will grow and reach your home.
Sinclair warns that DIESELBOOM’S depositor haircut precedent for bank failures is coming to the entire Western banking system, a fact that we have repeatedly driven home here at SD upon uncovering bail-in legislation in Italy, Canada, Switzerland, the UK, and the US.
Sinclair’s full alert on the Cyprus bail-in and on exiting the Western banking system NOW is below:

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From Jim Sinclair:

“The raid on uninsured Laiki depositors is expected to raise €4.2 billion, euro group chairman Jeroen Dijssebloem said.


Laiki will effectively be shuttered, with thousands of job losses. Officials said senior bondholders in Laiki would be wiped out and those in Bank of Cyprus would have to make a contribution – setting a precedent for the euro zone.


An EU spokesman said no across-the-board levy or tax would be imposed on deposits in Cypriot banks, although the hit on large account holders in the two biggest banks is likely to be far greater than initially planned”


News on Cyprus’ large depositor’s confiscation of funds is in an MSM black out for obvious reasons. Money knows what herculean event has occurred to large depositors in Cyprus.


A reporting black out will not make the history making event go away


Very temporary capital controls have historically gone on for significant periods. Capital controls and bail ins will grow and reach your home. If you do not exit the system, you will not be able to exit the system.





Bank restrictions on capital ‘very temporary’ says Cyprus president
Step follows last-minute €10bn deal to avoid financial meltdown on island

Mon, Mar 25, 2013, 20:38



Cyprus is introducing “very temporary” restrictions on capital flows when banks reopen this week, the island’s president has said, seeking to reassure panicked Cypriots that a bailout deal struck overnight was in their best interests.


The step follows a last-ditch deal with international lenders on a €10 billion rescue plan to avoid economic meltdown, with Cyprus agreeing to close down its second-largest bank and inflict heavy losses on big depositors.


Without an agreement, Cyprus had faced certain banking collapse today and potential exit from the European single currency. It still risks a run on banks when they reopen their doors this week. The two biggest institutions stay shut until Thursday, but the rest will be open from tomorrow.


“The agreement that we reached is difficult but, under the circumstances, the best that we could achieve,” newly elected conservative head of state Nicos Anastasiades said in a televised address to the nation on his return from fraught negotiations with the European Union, European Central Bank andInternational Monetary Fund in Brussels.


He said the Cypriot central bank would implement capital controls on bank transactions, anticipating a run on deposits by Cypriots and foreigners fearing for the safety of their money.


But the president added: “I want to assure you that this will be a very temporary measure that will gradually be relaxed.”


Many larger investors face steep losses they cannot avoid.


Backed by euro zone finance ministers, the bailout plan will spare the Mediterranean island a financial catastrophe by winding down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shifting deposits of less than €100,000 to the Bank of Cyprus to create a “good bank”, leaving problems behind in a “bad bank”.


Deposits above €100,000 in both banks, which are not guaranteed by the state under EU law, will be frozen and used to resolve Laiki’s debts and recapitalise the Bank of Cyprus, the island’s biggest, through a deposit/equity conversion.




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  1. Bail-ins in the US, UK or Canada?   Not gonna happen, the damage you do to the confidence of the banking system is not worth it.  It would create social chaos, whatever money that is taken would be off set from other expenses.
    We will print more money, we are not going to steal depositor money.
    Devaluaction of currency is theft,  nothing else is needed.  Cyprus was a freak deal.

    • What a bunch of BS you feed Zman. Freak deals aren’t reinforced with statements from euro heads reinforcing the action as the “new template”. Freak occuren es are not premeditated like the Federal Reserve acts put in place to mimic that action in the U.S.  Your a schmuck for pushing those Bloomberg like denial views to anyone. YOU don’t believe it, and if you did, you need to further edu ate yourself on the FACTS before opening your hole. Ignorance is no excuse for misleading the public. You do t know the legislation numbers to look them up? Ask the DOC for the links, iI’ve already viewed them. Your about to be sacked bud, and there’s nothing you’ll beable to do about it. I’m thinking a credit union may be your best bet to satisfy daily digital transactions? Someone correct me if you got negative input on credit unions.

    • Nope, I’ve had nothing but GOOD experiences with our local CU.  It’s good and always has been.  Not that they can’t be screwed up by idiots at the national level, of course.  Until that happens, though, I am comfortable with having less than $100,000 in my accounts there.
      In thinking about the newest form of robbery, aka bail-ins, it seems to me that TPTB could try to sell this as a half a loaf kind of deal.  If there is a financial collapse, complete with bank holidays, they could sell this as a way to get SOME of our money back… that or nothing.  That would not satisfy most on here but it might satisfy the majority out there.  Yes, they are sheeple, but they definitely have the numbers in their favor.
      The story of Cyprus is morbidly fascinating.  They have been looted of a good chunk of their wealth while those who are connected left the country with their billions intact.  Elites 1, Citizens 0.  Now, since they have swallowed the ECB BS hook, line, and sinker, other people around the world will supposedly do the same thing.  I am thinking that we will not.  Violence IS the answer when there realistically is no other answer.  And no, allowing ourselves to be financially gang-raped at will is NOT an answer.  Not an acceptable one, anyway.
      I am still pondering what it was that the citizens of Cyprus supposedly got from this “deal”.  Seems to me that being an EU member is a whole lot more trouble than it is worth.  Same for ANY other country too.  No, the bankster system really is not worth all this BS.

    • I’m with Ed on this one… I think you can’t rule anything out.  I’m not abandoning the banking system and keeping cash in my house (what happens if it burns down or is all stolen)?
      Low probability event that we’d see that here, but I wouldn’t be willing to bet a lot of money against it if the window was long.

    • FDIC could pay maybe 10% of what it is insuring on a good day, and that will go to the big account holders before the little guys I bet. Dodd-Frank has a provision for a Cyprus Haircut  here in the US so it s is coming. They are not putting it there to not use it. Sheeple are nothing but slave labor cash cows for the bankers.

  2. They created a system back in 1933 to operate in to get us out of this debt problem, the only problem was they didn’t tell anyone how to use it. You are All lost at Sea, under the Cestui Vie Act of 1666, or some version of it, and you didn’t come back and tell them you were alive. Were in Bankruptcy and trying to pay for anything only creates more DEBT. EVERYTHING is PREPAID! So they Get you to pay for it TWICE! EVERYTHING is Supported by your BIRTH CERTIFICATE BOND! When you sign a Contract with a Bank, Do they Sign? So you Signed an APPLICATION! Did they Loan you Anything of Value? They loaned you Credits that you Created with your Signature! Read Modern Money Mechanics. Your Not Discharging your Debt! Federal Reserve Notes are to only reside inside Federal Reserve Banks. So if your Operating in them, your a Banker!

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  3. I’ll take a position of watchful waiting.  The Euro situation continues to deteriorate.  Banks are being gutted by their bad bond investments.  the recession/depression is growing in most of the countries with France on the ropes.  The banks that are the worst off can’t bail themselves out.  The costs to save even one or two Italian banks will be prohibitive. There is deeply embedded wealth in Italy and France, riches prizes for the top people putting these actions into play.  The bail-ins of accounts there would be one heck of  a struggle and with Italy it would be tantamount to war.  But German and its allies are strong and control the majority of the ECB banking system that ultimately will force the bail-ins, aided and abetted by the IMF.
    Not that people would just sit passively by while these bankers took hundreds of billions of Euros to do the deed.  Nigel Farage says there will be violent rioting in the streets. But that can be dealt with when the entire Euro system is at stake. This has been thought about and means to supress the people who are, by and large, unarmed is fully within their power. 
    Desperate bankers and central governments will do nearly anything to preserve the status quo, so bail-ins are likely to become a regular plan.  These people are intellectuals and that breed of cat does not fully  understand the results of their actions.  They think only of the immediate solution and not long term unintended consequences.
    The US is another matter.  We can still print and bailout banks without resorting to the worst and final solution. The people are well armed and would not take kindly to a theft of their accounts or pension plans.  Anything like that which was done in Cyprus would have to be done in a very stealthy manner and under cover of night.  We might wake up to a very different world if that happened.  I would not want to see that result.

  4. I have a free market reminder: bail ins…. Are not unconstitutional. Before the fdic was put in place, if you put your money on with a bad bank… You lost it! If Jesse James robbed your bank…. You lost it! All I’m saying is this:  Your about to lose it, and there’s nothing un Capitalist about it. Better wise up peeps.

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