•  

    Submitted by Harvey Organ:

    JULY 6/GREECE VOTES NO/ECB RAISES HAIRCUT ON GREEK COLLATERAL WHICH WILL CAUSE CHAOS IN THE GREEK BANKING SECTOR/FRBNY SHIPS 10.1 TONNE OF GOLD FROM ITS VAULT OVERSEAS/NO […]

    • Strangest haircut I’ve ever seen.  Certainly enuf to freak everyone out, even true believers in nuffinness would be moved.

  • A real crisis is developing far faster than what I envisioned that is impacting the 75 Trillion Shadow Banking sector which is on the verge of implosion.
    Credit markets are almost closed, I am being told! I […]

    • “Ever wonder why car loans in America exceed the value of the cars in question?”

       

      Can’t say that I have since I don’t do car loans.  Buying a depreciating asset with borrowed capital seems foolish from a financial perspective.  Thinking about it, however, shows that everything is marked up in price to provide profits for a long supply chain of people and businesses who are involved in the entire process, not only for designing and building cars but for the suppliers of metals, plastics, and parts of all kinds but also for storing, shipping, and distributing the cars and trucks.  Then, there is that $1000 or more loss from depreciation the second the car is bought and driven off the lot.  :-(

       

      “To put this into perspective, the Credit Default Swap  (CDS) market that nearly took down the financial system in 2008 was only a tenth of this ($50-$60 trillion).  And this was at a time when there was QE and other means to throw at the problem which are now spent. So what will be used this round?”

       

      We can all safely assume that desperate governments will do anything and everything in their power to resolve an issue of this kind.  But what will that be?  Something else idiotic would be my guess, if recent history is any guide.  How about they just print currency and helicopter it into the economy until we are all awash in currency?  Yeah, I know, that’s been tried but these guys will be looking for a “solution” to one problem while actually creating another larger problem, so this seems appropriate.  Besides, as Holter has said before, “printing money is all they know how to do”, so it will be their default response, no matter how inappropriate it is.

       

      “So there you have it.  This is something I have been saying for quite some time, we are living in the greatest credit bubble of all time…and it is bursting.  It is bursting because liquidity is drying up.”

       

      Liquidity is drying up because it is inversely proportional to stupidity and we have a massive overabundance of that… particularly in both government and banking.  We are in a terrible mess now and it is clear that the people who got us here cannot be counted upon to provide an effective solution to it.

       

      “What is most humorous to me is China has now instituted rules where stock market margin calls can be met by posting real estate as collateral!  Meeting margin with an already margined asset is the recipe for disaster!”

       

      This is no worse than the typical bankster response to too much debt… MORE borrowing!  I do not find this at all humorous, however.  Nor should any of us because when the SHTF, we’re ALL gonna get splattered, some more than others, but no one is getting away from this scot-free.

       

      “Central banks all over the world are “buyers” of nearly all things paper, do we really have “markets”?  Anywhere?”

       

      No, there aren’t and there haven’t been for some time.  Keynesianism WILL be the death of the current monetary and financial systems, just as socialism will be the death of all current political systems that embrace it.  Yes, we do, in fact, live in interesting times… and they are likely to get a lot more interesting before too much longer.  Got preps?

       

      • Got plenty of preps.  Been working 15 years on getting a self sustaining homestead going, assuming this was coming at some point.

      • Above all else, we need spiritual preps Mofos. You can’t hide from the spirits wrath.

      • @Ed_B

        “Ever wonder why car loans in America exceed the value of the cars in question.”

        There’s other reason’s too Ed. Folks finance them too long, thus paying them down too slow. Also, somewhere near half of the buyers roll part of the owed amount for a previous vehicle into a new contract for the next vehicle.

    • Buy canned food, bottled water, gas, silver coins and gold coins, now!!!???!!!

    • I’ll tell you who will be most impacted by this.  Those with exposure to these credit instruments that’s who.  More Silver.

    • This system will continue as Fed has infinite amount of money. The real problem starts when inflation goes up dramatically. Fed will not be able to print money as it will feed the inflation monster and inflation will be running on momentum with positive feedback, thereby accelerating. Fed cannot stop printing as no one is buying the bonds. The only way out is to have an alternative system to migrate to or else the money will just vanish when the bubble burst.

    • @Ed_B  Lack of liquidity inverse to stupidity.  That sounds about right

      • @AGXIIK

         

        Indeed, for if it weren’t for making dumb investment moves, they would not continue to lose the currency they already have.  Has anyone come along to guarantee your liquidity?  No one has for me, so I thought that I would check.  No, when I do something dumb, *I* get to pay for the mistake.  This incentivizes me not to make too many dumb moves.  But when there are no consequences to dumb moves, LOTS of them seem to happen.  Something about “moral hazard”, I believe.  Not sure how the term “moral” comes into it, although it is definitely a hazard to our economic and financial systems.  As Forest Gump would say, “Stupid is as stupid does”.  😉

         

         

      • Lack of LIQUIDITY = lack of CASH!

        You say “Lack of liquidity inverse to stupidity”.  So the Smart people don’t have cash right now? Actually I think those dumb folk have a shitload of cash right now.  Mill that around in your head for a while before you back-up the truck again.  YES, you can go broke as many have, by getting there too soon.  Timing is EVERYTHING!

      • In retrospect it all makes sense.  The USD is the Global Reserve currency.  Why the f..k were we ever comparing the US to the Weimar Republic or any other nation with a  failed currency?  Yes, The USD will of course fail because it’s based on nothing, but so is every other fucnn fiat currency in this world, of course the USD will collapse, but not before all the other fiat collapses.  Central banks throughout the world hold USD’s in reserves as if it were Gold.  It’s real simple when you see it for what it is, Bottom line, 99% of the expert talking heads have no idea WTF they’re talking about.

    • Doc., nice article. More like this would be great.

      P.S. Log in on mobile is not working quite right.

    • @zeroBS   I used it as a catchy phrase rather than an accurate one.
      But, and this is the catch, lots of smart people have zero liquidity, thinking that their illiquid assets can save them.  Lots of not so smart people figure it out that cash is a survival tool and eschew debt, illiquid investments and hard assets with no market when things go TU.  So you can kind of take the phrase any way you want.

      I’d rather be liquid in a world of insolvency than solvent in a world of illiquidity.

      Liquidity is real.

      Solvency is a convenient catch phrase for being in good shape financially, until the SHTF and that solvent investment one counted on such as a bank account, MMA,  business or stock and bond fund is rendered worthless for survival purposes.  China now demands that people retain their stocks until the market corrects. They demand that pension funds not sell their stocks.  That is a defacto expropriation of these accounts.  Greece banks are closed, will stay closed, have no liquidity and are bankrupt.  Greek debt will bankrupt central  banks in German, France and Italy.  They are on the hook for 250 billion Euros, with taxpayers tasked with making good on those government bank guaranties

      When Greece defaults in full, nationlizes their banks to protect from the troika vultures and exits the Euro, freeing themselves from a state of currency and debt slavery, they will be the only ones exiting with a whole skin.  All the rest of the Euro zombies will be crushed by this exposure to unpayable Greek debt.  The Euro dies in the process

      But I digress.

      • I want to help my brethren get through this crisis and if that means they should be holding USD/gold/silver at any given point then I will say so.  Timing is everything, I resent salesmen pitching their BS, to me that is a sin, and sins donot go unpunished as they are hurting real people.  We’re in a global deflationary cycle, people should actually be in cash right now, USD in particular,  just for now, timing is everything, the global economy is about to turn down even further.  Govs are trying to maintain their power at all costs, we see this everywhere.  I don’t say this for personal gain.  That being said, of course I believe we should stack pm’s, but when the timing is right.

      • I want to help my brethren get through this crisis and if that means they should be holding USD/gold/silver at any given point then I will say so.  Timing is everything, I resent salesmen pitching their BS, to me that is a sin, and sins donot go unpunished as they are hurting real people.  We’re in a global deflationary cycle, people should actually be in cash right now, USD in particular,  just for now, timing is everything, the global economy is about to turn down even further.  Govs are trying to maintain their power at all costs, we see this everywhere.  I don’t say this for personal gain.  That being said, of course I believe we should stack pm’s, but onlyh when the timing is right, which is actually coming up soon. 4-5 months.

      • I want to help my brethren get through this crisis and if that means they should be holding USD/gold/silver at any given point then I will say so.  Timing is everything, I resent salesmen pitching their BS, to me that is a sin, and sins donot go unpunished as they are hurting real people.  We’re in a global deflationary cycle, people should actually be in cash right now, USD in particular,  just for now, timing is everything, the global economy is about to turn down even further.  Govs are trying to maintain their power at all costs, we see this everywhere.  I don’t say this for personal gain.  That being said, of course I believe we should stack pm’s, but only when the timing is right, which is actually coming up soon. 4-5 months.

    • I hate it when an entire article is based on an unnamed source. You can’t decide for yourself whether this person is credible or not.

      Will this be yet another “wolf” cry from Holter?  He claims his source says the meltdown is happening right this very moment so we shouldn’t have too long to wait in order to find out.

    • @AGXIIK

      It is my understanding that most of the 250 billion in Greek bonds that had been held by the various European banks have been bought up by the ECB.  There is such a shortage of sovereign bonds (lack of liquidity) that in order for Draghi to keep his cash pump running, the ECB will soon be buying commercial paper.

      This to me would indicate that many of the Euro banks would not be hit too hard, directly, by a complete Grecian default. But doomers need not fret.  When those bonds the ECB holds go poof the ECB will be required to get an emergency draw from the EU members in order to recapitalize itself.  Money those countries do not have!  Can you see Spain, Italy, Ireland, Portugal being able to cough up 10’s of billions of Euro’s? Ha.

      If they try and sell bonds to raise capital it will glut and crash the bond market and they likely don’t have reserves to spare.  So when Ireland can’t/won’t cover – their burden gets dumped on the rest of the members.  And as the reneges move up the line through Portugal, Spain, Italy, and other countries possibly even including France the fewer and fewer able counties have to shoulder an ever increasing share.  Until finally, most, if not all of it gets dumped in Frau Merkel’s lap.

      Then how do you think the German people will react to being told about the austerity they are going to be facing.  A bit of karma there, but I digress.   They will also realize that this is the result of a default by a very small country.  And they will know that bigger defaults will shortly be heaped upon them.  And their response will be, not Oxi, but a resounding NEIN!

      Add on top of that, all the derivatives that are just based on the bonds that the private banks and sovereigns do own. For good measure, heap on a giant portion of interest and currency swap derivatives that will literally explode and nothing will be left of the entire Euro financial system but a giant smoking crater.

    • @AGXIIK

      It is my understanding that most of the 250 billion in Greek bonds that had been held by the various European banks have been bought up by the ECB.  There is such a shortage of sovereign bonds (lack of liquidity) that in order for Draghi to keep his cash pump running, the ECB will soon be buying commercial paper.

      This to me would indicate that many of the Euro banks would not be hit too hard, directly, by a complete Grecian default. But doomers need not fret.  When those bonds the ECB holds go poof the ECB will be required to get an emergency draw from the EU members in order to recapitalize itself.  Money those countries do not have!  Can you see Spain, Italy, Ireland, Portugal being able to cough up 10’s of billions of Euro’s? Ha.

      If they try and sell bonds to raise capital it will glut and crash the bond market and they likely don’t have reserves to spare.  So when Ireland can’t/won’t cover – their burden gets dumped on the rest of the members.  And as the reneges move up the line through Portugal, Spain, Italy, and other countries possibly even including France the fewer and fewer able counties have to shoulder an ever increasing share.  Until finally, most, if not all of it gets dumped in Frau Merkel’s lap.

      Then how do you think the German people will react to being told about the austerity they are going to be facing.  A bit of karma there, but I digress.   They will also realize that this is the result of a default by a very small country.  And they will know that bigger defaults will shortly be heaped upon them.  And their response will be, not Oxi, but a resounding NEIN!

      Add on top of that, all the derivatives that are just based on the bonds that the private banks and sovereigns do own. For good measure, heap on a giant portion of interest swap derivatives that will literally explode and nothing will be left of the entire Euro financial system but a giant smoking crater.

    • @AGXIIK

      It is my understanding that most of the 250 billion in Greek bonds that had been held by the various European banks have been bought up by the ECB.  There is such a shortage of sovereign bonds (lack of liquidity) that in order for Draghi to keep his cash pump running, the ECB will soon be buying commercial paper.

      This to me would indicate that many of the Euro banks would not be hit too hard, directly, by a complete Grecian default. But doomers need not fret.  When those bonds the ECB holds go poof the ECB will be required to get an emergency draw from the EU countries in order to recapitalize itself.  Money those countries do not have!  Can you see Spain, Italy, Ireland, Portugal being able to cough up 10’s of billions of Euro’s? Ha.

      If they try and sell bonds to raise capital it will glut and crash the bond market and they likely don’t have reserves to spare.  So when Ireland can’t/won’t cover – their burden gets dumped on the rest of the members.  And as the reneges move up the line through Portugal, Spain, Italy, and other countries possibly even including France the fewer and fewer able counties have to shoulder an ever increasing share.  Until finally, most, if not all of it gets dumped in Frau Merkel’s lap.

      Then how do you think the German people will react to being told about the austerity they are going to be facing.  A bit of karma there, but I digress.   They will also realize that this is the result of a default by a very small country.  And they will know that bigger defaults will shortly be heaped upon them.  And their response will be, not Oxi, but a resounding NEIN!

      Add on top of that, all the derivatives that are just based on the bonds that the private banks and sovereigns do own. For good measure, heap on a giant portion of interest swap derivatives that will literally explode and nothing will be left of the entire Euro financial system but a giant smoking crater.

      • It’s possible of course that Draghi will turn the dial on his printers to “high” to capitalize the Euro members so they can recapitalize the ECB.  He will also try to flood the system with enough Euro’s to wash away any hint of deflation from the various defaults.  This may work for a short time but the end result will instead be like sloshing hyper-inflationary gasoline everywhere.  And then the spark…

        Again boom!  And the only thing left will be whatever gold & silver Philharmonics are floating around.  Get your historical coins while you still can.

      • It’s possible, likely, of course that Draghi will turn the dial on his printers to “high” to capitalize the Euro members so they can recapitalize the ECB.  He will also try to flood the system with enough Euro’s to wash away any hint of deflation from the various defaults.  This may work for a short time but the end result will instead be like sloshing hyper-inflationary gasoline everywhere.  And then the spark…

        Again boom!  And the only thing left will be whatever gold & silver Philharmonics are floating around. Get your historical coins while you still can.

      • It’s possible, likely, of course that Draghi will turn the dial on his printers to “high” to capitalize the Euro members so they can recapitalize the ECB.  He will also try to flood the system with enough Euro’s to wash away any hint of deflation from the various defaults.  This may work for a short time but the end result will instead be like sloshing hyper-inflationary gasoline everywhere.  And then the spark…

        Again boom!  And the only thing left will be Euro notes sold by the same Ebay vendors that sell Zimbabwe currency.  The only thing left of value will be whatever gold & silver Philharmonics are floating around. Get your historical coins while you still can.

      • It’s possible, likely, of course that Draghi will turn the dial on his printers to “high” to capitalize the Euro members so they can recapitalize the ECB.  He will also try to flood the system with enough Euro’s to wash away any hint of deflation from the various defaults.  This may work for a short time but the end result will instead be like sloshing hyper-inflationary gasoline everywhere.  And then the spark…

        Again boom!  And the only thing left will be Euro notes sold by the same Ebay vendors that sell Zimbabwe currency.  The only thing of real value will be whatever gold & silver Philharmonics are floating around. Get your historical coins while you still can.

  • Crisis?  What Crisis?  Enter The “Plunge Protection Team”
    To the best of my knowledge, no one has pointed out the highly unusual euro/dollar trade that occurred last Monday, June 29.  Over that weekend, it […]

  • We are going to see a negative gradual financial crescendo into September and fear is going to strike the entire financial world far more then than it has now.
    All of this crescendo leads to a blow off of the top […]

    • “I will record it just for my readers to enjoy, those who have filled their coffers with hard assets and have protected themselves from the crash to come, have protected their families, and will be able to purchase, for pennies on the dollar, or maybe just one penny on the dollar, companies all around the world which will fuel the economic boom after the President of the United States rushes in, several months later, to save a world that has disintegrated into civil disobedience and anarchistic chaos.

      How can the POTUS save the world with fiat currency which is what has gotten us in this mess to begin with. Or will the U.S. find that deep storage gold?

      Daniels 70th week forecast will probably be just like the 12/21/2012 forecast – the day will come and go just like every other day. So many predictions / forecasts that doesn’t come true. This is why it’s so hard to get people to wake up. When I direct people to this website and they read forecast or predictions and it doesn’t come true they simply dismiss it as internet rumors.

       

       

    • I won’t anchor my personal predictions on a biblical date but that’s because I am a heathen.

      On the other hand, I do predict that the falling dominoes start with  Greece, move to PR, UKR, then the other PIGS (Portugal, Ireland and Spain)

      Then the SIFI  and CB failures will involve the BIGS (Britain, Italy, Germany and Sweden)

      The last dominoes are the PROLES (Poland, Romania, Oceania* Lithunia, Estonia and Slovakia) * Oceania is small countries bordering rivers, lakes or oceans.

      I might be off a bit, or a lot, but the contagion of Greece, PR and UKR will beget more erosion of financing structures and underpining of the entire Euro zone.

      I also think that China will have their own financial failure that includes indonesia, Japan, the Far east peripherals that will roll out, creating a $20 trillion mother of all margin calls.  Every Fin Min in Europe will get a wakey wakey  “Drop your cocks and grab your socks” or as I prefer, ‘Drop your pencils and grab your stencils, cuz we gotta paper our way out of this FUBAR.  The US is probably the last of the dominoes but there will be a reckoning.  It is inevitable and the timing is largely out of our hands.  July still has 24 days to go and much can happen before August

      • @AGXIIK

         

        Agree on not nailing this down with a prediction.  No one knows or can know the future.  God saves that info for Himself and does not share it with anyone, biblical analysis notwithstanding.  While I find truth and wisdom in the bible, I also know that it was written by men, all of whom were fallible.  Whether or not they were inspired by God when they wrote the books in the bible, only they and God know for sure.

         

        In any case, as I have often said, WHEN becomes irrelevant once we commit to prepping and stacking.  We simply prep and stack as best we can for as long as we can and when the SHTF, we stop adding to our stacks and start using them for their intended purposes.  Doing this allows us to get on with the business of stacking and prepping without getting tangled up in the red herring argument of timing; something to which all too many of our fellow preppers and stackers fall prey, despite our best efforts.

         

      • “Whether or not they were inspired by God when they wrote the books in the bible, only they and God know for sure”

         

        All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness: 2 Timothy3:16

         

        The sixty six  books of scripture ( the other six mans perception of them) are one cohesive narrative likened to a cloak without seem as the thread weaves its way from the first verse of Genesis to the last verse of Revelation. From where I  am coming to see (by  being lead)  into this immeasurable cohesive narrative I  am without any  doubt its author is not of this natural realm and for this reason the  mysteries of scripture cannot be found  by the reasoning of a natural/carnal mind, but when one brushes of the perception of dust/man the scriptures open themselves in ways  one can not put a measure to and yet speak to/of the one infinite  Truth ………………………

    • With the success of of silver eagle sales would this make sense? So the US Mint stamps out Silver Eagles and makes two bucks each. It must have crossed their minds that if they could change the face value to $20, they could sell gazillions at face value and (at today’s prices) make four bucks each. Who would NOT empty their bank accounts to buy a zero risk investment with a very interesting potential?  Okay what would be the problems with this?

    •  

      1835 was the only time in U.S history when the country was debt free,
      when Andrew Jackson paid off what he called then ” the national curse”.
      It lasted exactly one year .

  •  

    Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics:

    Although it’s certainly easier to predict than whether or not the sun will rise, nothing makes me more giddy with glee than […]

  • Last Friday, June 26, was D Day.  That was the last day a person in Greece, for all intents and purposes, had the banking freedom we take for granted here in the US.  Today the Greek people are now stuck in a […]

    • ECB refuses to increase ELA, meaning the last few hundreds of millions in ATM cash is gone by around  Wednesday July 8. Pensions and salaries middle of next week. 4 billion is due the IMF and ECB July 20. Wanna bet that the vig goes unpaid? Wanna bet that salaries and pensions deposited in the Greek banks can’t be accessed.
        Big meetup of the Troika and other bad actors Junly 7 will probably put Greece in the monetary time out cage.  Stay tune homies,  Sam Bat time Same Bat Channel.  The Joker is doing to do something really weird. This is going to get fungly right quick
      Watch how the Greeks handle this FUBAR. Take notes. You might want to be ready.

    • I am a little confused about Senor Swings predictions.  Is he saying that SHTF in a couple of months or is he saying that it will be evident that S will HTF in 2 months?  In other words, could the Fall turn out to be a turning point?  Gold and silver seem to be completely under the control of the Nazi Jack Boot right now.  Should we assume that this will continue until the dreaded SHTF actually happens?  It is my current assumption that as long as the PTB have it in their power to control the metals markets pm will stay at current low levels.   When we start seeing significant rising pm prices I will have to conclude that we are very very close to financial armageddon.  For the moment anyway, we got zero interest rates and suppressed pm prices.  We can rest easy for now I guess.  Marshall is onto something.  But, I also believe he’s doing quite a bit of guessing on this as well.  I’m holding onto my metals but I certainly am not telling my family to buy any.

    • My above post should belongs on Senor Swings post.  At any rate, the Greeks have been suffering for a long time already.  I believe that the people are in a better position than we are to help each other out and take positive action during these trying times.  It is a smaller country.  People live near their family’s etc.  They can move back to the country to the family farms and help out producing food etc.   I know things are tough in Greece but they can make a come back.  When this same problem visits the US it is going to be worse.  And, the US knows this.  For example, Jade Helm, FEMA camps, etc.

    • Great article from Bloomberg:

      http://www.bloomberg.com/news/articles/2015-07-06/good-luck-finding-a-place-to-hide-as-global-markets-crumble

      In normal economic times when investors flee stocks they turn to bonds.  However, now bonds are in a historically massive bubble.  Where will investors flee to when they run from both bonds and stocks?  Remember the bond markets are multiples larger than the equity markets.  Is that cash going to rush into real estate, farmland, or “safe” currencies? … All of which are historically overvalued to some degree.  Or is that tsunami of capital going to flee into real money that has been used for centuries…

      http://www.macrotrends.net/1444/gold-to-monetary-base-ratio

      …. Gold and silver dont look overvalued to me.

      • “Gold and silver dont look overvalued to me.”

         

        No, not to me either.  This is not surprising since they are selling at what should be fairly close to their cost of production.  Production costs vary, sometimes quite a bit, often depending on whether one it discussing a pure gold or silver mine vs. a base metal mine where gold and silver are by-products that can be salvaged at minimal additional cost.  Copper mines produce quite a bit of gold, just as lead-zinc mines also produce quite a lot of silver.  Their costs are lower than the pure gold and silver miners IF they have a market for their base metals.  That market has shrunk quite a lot lately, so there is hard to know how they are doing with their gold and silver production.

         

        Personally, it seems worth taking the chance of buying gold and silver these days because their prices are relatively low and they are likely to come through a serious financial disaster a lot better than any paper asset that is not backed by something that is real.

         

        Both US Gov bonds and US$ have zero backing of any kind, hence the “full faith and credit” speech from the US Gov.  If their assets had intrinsic value, neither faith nor credit would be necessary.  We would simply KNOW that the assets were of value and were likely to continue having value… unlike unbacked paper assets.

         

        The long human history of gold and silver use as money speaks for itself.  Much of human history was terribly violent, yet gold and silver continued to be used as money by many different cultures.  The coming hard times are likely to be bad but certainly no worse than humanity has already experienced… barring wars with weapons of mass destruction, of course.  If anything survives these times that can be used as money, gold and silver seem the likely candidates.

         

    • @aklynx   A thought occured to me after reading Marc Faber on ZH.  If Greece comes to America.  There will be two well defined camps, the largest of several that’ll evolve if we get Greeked

      The thelargest of the classes will be the Greedy Needy and the Haves.
      Each will be possessed of a  HEIRARCHY OF WANTS AND NEEDS. In normal times our basic wants and needs are easily met, perfunctory and habitual.  We scarcely think about them  In times of crisis, such as we see overseas, the heirarchy will hit each group in a very very different way

      The Greedy Needy, not bad people, just unprepared, and fairly willing to demand their needs be met, can become very dangerous and will have a Heirarchy that lays out like this:

      1.  Cash

      2.  Food and water

      3. Petrol

      4.  Utilities

      5 Guns and ammo

      The  Greedy Needy will quickly find their heirarchy because the items on that list are both very easily acquired pre-crisis but very hard to acquire immediately thereafter.  The two heirarchies will come into being within hours or within a few days. This is happening in Greece, providing excellent visual evidence of this paradigm. The Greeks are suffering for their lack of preparedness and awareness.

      The Haves focus on an entirely different set of wants and the means to achieve them.  Uppermost, they have a pre-set plan and means to implement it without falling into the trap of fear and despair.Their emotional state is benign. Whether they are generous and beneficial or extremely dangerous depends on how a cohort of the Greedy Needy approaches them
      Here are the most likely elements of the Haves Heirarchy

      1.  Courage

      2.  Preparedness mindset

      3. Faith

      4.  Family and friends, a BOB

      5. Multi layered strategic plans and situational awareness.

      A person or group that lives in the second paradigm lived in the first before waking up.  Those that live in the first can manifest the second within a few days or weeks at most. Trying to do this on the fly means it will be done in a haphazard manner.  The will to transform is the key.

       

       

       

      • @AGXIIK

         

        “The will to transform is the key.”

         

        That “will” will be created by absolute necessity when it becomes generally understood that it is adapt or die time.  This is called incentive.  😉

         

  • Puerto Rico is full crisis mode, as signaled by Governor Alejandro García Padilla warning that the island’s debts are “not payable.” This is partially the fault of the island’s own government. The commonwealth […]

    • Greece, Puerto Rico are the leading edge of the demographic and population winter we are entering…but check the engines of growth, China, Brazil, and soon India also facing negative birth rates.

      As population growth slows, as credit growth slows, interest rates alreaddy at ZIRP…the only things left are government debt, more CB leverage, and derivatives beyond belief.  These are filling the void…but an inflection point is likely here and going to hit us sometime in ’15.

  • The statistics below prove that most Americans are completely and totally unprepared for a Greek-style economic crisis… 
    From End of the American Dream:

     

    According to one recent survey, an all-time high […]

    • Well well, more fun stories

      Here’s the deal

      If your utilities, gas, water and lights stop working, you live in a high tech cave.

      If your grocery store and fridge are bare, you live in a high tech cave in the Hunger Games

      If your gas stations are empty you’re a walkin’ the dog DBag living in a high tech cave in the Hunger Games

      If the ATM is TU, you’re a broke dick  walkin’ the dog DBag living in a high tech cave in the Hunger Games

      Hey scooter, welcome to the 18th century.  Or Greece in July 2015

      Don’t say you weren’t warned

      • @AGXIIK

         

        OK, here’s another deal.  Most Americans are reactive rather than proactive, hence the lack of even short-term food, water, and cash supplies in most homes.  IF something happens, THEN they will try to do something about it.  Apparently, they cannot stand the idea of preparing for something that then doesn’t happen… wasted time, effort, money, and all that.  But many never stop to think about prepping as a form of life insurance.  Know anyone who complains that their life insurance policy hasn’t paid off yet?  Probably not.  They are likely to be few and very far between.

         

    • For those who are able, it would be so easy to keep some cash handy. It would be equally simple to stock up some food and water at the very least, to help you through unexpected turmoil. The turmoil that may be coming is fully anticipated and discussed for those of you who are paying attention, so any of us who do not see fit to prepare, deserve what we get, if/when this event happens.

      This is not “Fear porn”, it is simply a fact! I wish for only the very best for everyone and I pray that you will all take the steps necessary to mitigate these possible events, to the best of your abilities. For the benefit of yourselves, your family and your friends who you may end up feeling sorry for.

      • Well said @SilverSucker.  Yes, it is very easy to stock up extra food and water, even if one has to do it a can or two at a time.  I got my wife into food and water stacking a couple of years ago and she loves doing it.  The other day, she came up from the basement, where our food and water are stored, and said, “I love having our own store in the house”.  She had some cans that were going to be a good part of our dinner for the evening and she didn’t have to drive to the local market to get anything.  Now, if only I could get her interested in some gold or silver.  Oh, well… one step at a time.  If all else fails, I will stack for her, our 2 kids, and our 2 grand kids.  But there WILL be an extraction required.  When the SHTF hits and she at long last recognized the value of REAL money, that will be the time that I mention that the stack is mine.  I created it, so it is ALL mine.  I will relent, of course, because that is what men do for their wife and children.  But not until it is acknowledged that it was a good idea and that our family is lucky that at least one of us prepared for the SHTF time.

         

        Those of us who were scouts as kids well know that their motto is “be prepared”.  There was nothing fearful about this.  It was just the simple acknowledgement that bad things can happen at any time and that those who have some basic supplies and knowledge will handle it better for themselves and those around them than those who do not.  Useful things like woodscraft, keeping your tent dry inside, and starting a fire without matches or a lighter were all part of the scouting experience.  So was basic first aid, cooking, foraging, etc.  All of these are good lessons for kids to have and then enjoy the feeling of success when they achieve their goals.  Lessons like that tend to stick with people for a long time because they actually earned the success of achieving their goals.  Too bad that many more kids have not had the scouting experience.  It would do many of them a lot of good.

         

    • For those who are able, it would be so easy to keep some cash handy. It would be equally simple to stock up on some food and water at the very least, to help you through unexpected turmoil. The turmoil that may be coming is fully anticipated and discussed for those of you who are paying attention, so any of us who do not see fit to prepare, deserve what we get, if/when this event happens.

      This is not “Fear porn”, it is simply a fact! I wish for only the very best for everyone and I pray that you will all take the steps necessary to mitigate these possible events, to the best of your abilities. For the benefit of yourselves, your family and your friends who you may end up feeling sorry for.

    • For those who are able, it would be so easy to keep some cash handy. It would be equally simple to stock up on some food and water at the very least, to help you through unexpected turmoil. The turmoil that may be coming is fully anticipated and discussed for those of you who are paying attention, so any of us who do not see fit to prepare, deserve what we get, if/when this event happens.

      This is not “Fear porn”, it is simply a fact! I wish for only the very best for everyone and I pray that you will all take the steps necessary to mitigate these possible events, to the best of your abilities. For the benefit of yourselves, your family and your friends who you may end up feeling sorry for.

       

      If only one reader of this comment would benefit from it, that would make me quite happy. The truth speaks for itself and and can set you free.

  • The debt crisis in Puerto Rico could potentially cost financial institutions in the United States tens of billions of dollars in losses. 
    Yes, the Greek debt crisis is larger, as Greece currently owes about $350 […]

    • Actually the Greek people do not owe this money, the money was given to banks not the people.

      AS in the USA when Wall street banks make money gambling with other people’s money they keep all the profit, but when Wall street banks lose, the tax payers get stuck with the bill.

       

      The solution is round up all of the wall street bankers and the establishment politicians and set them on fire.

       

       

      • ‘interest to infinity’ is a ‘debt slavery’ scheme .. it should be common sense that the fate of that system is failure…. i mean really… debt is money .. what a joke.

         

        the truth about debt is that if you loan someone money and they do not pay you back then you not only lost the money you loaned but you also lost the client….

         

        that what happening in greece. not only did the EU lose their money they loaned with their ‘interest to infinity’ debt slavery, but they also lost greece.

         

        i’m not saying loaning money is an all out bad thing, sometimes it could be useful. the problem is in the ‘interest to infinity’ scheme and thinking that other’s people ‘interest to inifinity’ debt is another persons money or investment.

         

        if there was no such thing as “interest to infinity’ then even the us govy’s debt would be more manageable… everyone’s debt would be manageable if there was a maximum cap on interest that can be accrued via loans. and then we wouldn’t have to have an irs that is abusive as it is. the irs is abusive to an extreme. and we wouldn’t have a desperate govy that needed to thieve everyone..

         

         

      • Tax payers are unhappy about that. So now we have bail-ins. Bank investors (f.k.a. depositors) get to take the hit. They gambled on this bank. It’s their gamble to lose.

        And admittedly, those with more than €60 in a Greek bank have themselves to blame for their stupidity. One day too long their gamble was.
        And it goes for pretty much every bank and nation. Bail ins are here. And even though it’s called a bank run, it’s more of a bank freeze. Jus tenough liquidity for depositors to not let them demolish the bank buildings and digital infrastructure to the ground.

      • Greece & Puerto Rico are the leading edge of the demographic and population winter we are entering…but check the engines of growth, China, Brazil, and soon India also facing negative birth rates.

        As population growth slows, as credit growth slows, and with interest rates already at ZIRP…the only tools left are more government debt, more CB leverage, and derivatives beyond belief.  These are filling the void…but an inflection point is likely here and going to hit us sometime in ’15.

      • “The solution is round up all of the wall street bankers and the establishment politicians and set them on fire.”

         

        Hmmm, seems to me that I once read something about that.  It was something along the lines of:  “Build a man a fire and you warm him for a few hours.  But, set a man on fire and you warm him for the rest of his life”.  All in jest, of course.  😉

         

    • If Puerto Rico is such a big threat the U.S. why wasn’t they on the radar? Why write about it now?

      • what else is being kept off the radar that is a big threat to the usa ??? fukushima ??? the answer to your question is not obvious to you ??

      • what else is being kept off the radar that is a big threat to the usa ??? the answer to your question is not obvious to you ??

      • It has to do with the fact that, “The biggest and nastiest truths out there have been swept under the rug so as to not panic the sheeple and are never talked about by the usual media outlets”.  It is not until one exits the typical media than one begins learning about the things that are not to be discussed.  This web site, for example.  SGT Report is another good one.  There are numerous others.  They just are not on radio, TV, or cable.

      • It has to do with the fact that, “The biggest and nastiest truths out there have been swept under the rug so as to not panic the sheeple and are never talked about by the usual media outlets”.  It is not until one exits the typical media that one begins learning about the things that are not to be discussed.  This web site, for example.  SGT Report is another good one.  There are numerous others.  They just are not on radio, TV, or cable.

    • PR’s been on the bad debt, non payment default radar for about 2 years but now it’s become critical.  the governor can’t even lie about it. He says PR can’t pay.   He’s probably right.

    • Now that Castro is out, Puerto Rico should be fine……right?

  • Not only did Governor Abbott of Texas announce they’re going to build a new depository, he made sure in his press release, he said a gold and silver depository. That’s important…
    Submitted by Steve St. Angelo, […]

    • It will behoove the people of India to abandon the paper rupee and use silver as money. The word ‘rupee’ means ‘silver’.

       

       

    • India is top dog on the Silver imports.  I better stack faster.

    • “Not only do they want their gold, they want their gold back on their own ground and they also stated that they’re going to put some kind of bill where it cannot be confiscated from the federal government.”

       

      I’d be more concerned about the gold and silver getting confiscated BY the federal government.  lol

       

      Not sure what kind of state law would prevent the feds from grabbing that which they wish to grab but whatever it is, I am in favor of it.

       

  • The predatory creditor banks have resorted to using “terrorism” against the angry, defiant people of Greece.

     

    Submitted by Mac Slavo, STHFPlan:

    Chaos and economic disaster are still stirring up in […]

    • Yawn

    • Syriza was allowed to run the government so it would appear to be a battle of socialism against the banksters. Remember the banksters want one-world socialism.

      On June 28 Syriza announced they would not implement capital controls and then later that day they did. They are not heroes.

       

    • “The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000… So that could be coming next.”

       

      Which is excellent motivation not to keep more than a modest amount in any one bank.  Yes, we have FDIC insurance here in the US but that too is a matter of “full faith and credit”; things that tend to go POOF! and disappear just when really needed.

  • The Curious Case Of Edmund C. Moy
    Former US Mint director Ed Moy has made numerous false and self-contradictory statements regarding the gold at Fort Knox – a facility managed by the US Mint. 
    Submitted by Koos […]

    • Big yawn.

    • Why didn’t he ask him if he has seen the different solid gold Buda’s ?

      The 1m tall one was last seen leaving those vaults in the hillside behind Marcos’ place on USN barges.

      There were many others of different sizes.

      And…what about all the gold captured and hauled off from Japan circa 1945/6/7? 1,000’s of tons!..

      And.. this all begs the question: WHERE is all of the “original” CHINA gold, both Nationalist sourced and Japan sourced? Remember, Japan was at war with China for many years prior to their Dec 7th attack.

      Inquiring minds want to know…

      • Devious minds already know… Uncle Suction hoovered it all up.  Yum!

        But, as is often the case, what goes around comes around and now Uncle Suction has sold off a LOT of the US gold hoard and no longer has it.  If they had it, they could easily have returned Germany’s gold when the Germans demanded it.  Heck, they didn’t even get to see it, which is yet another clue that it isn’t there anymore.

        They have well and truly raided the national piggy bank in an effort to support a lifestyle that exceeds our income.  The real hell of it is that idiots in government have the tendency to sell gold at gold market bottoms rather than at gold market tops, compounding their duplicity.

         

  • For the first time in about two years, the fundamental price of silver is above the market price, about $0.35 over.
    Unless you really like to trade the bleeding edge of a signal change, you may not want to jump […]

  • This is a chart every gold investor NEEDS to see:
    From the SRSRocco Report:

    While the gold mining industry works harder every year to produce the highly sought-after monetary metal, its overall productivity […]

  • After securing a ‘no’ vote at Greek referendum on bailout, Finance Minister Yanis Varoufakis resigned, saying it would help Prime Minister Alexis Tsipras negotiate a better deal with foreign […]

  • Bill Holter is back to discuss the impending ‘Global Margin Call’… and when it might begin.
    From a global economic collapse perspective, from a derivatives bubble and credit default swaps and TBTF criminal […]

    • OK.  If we think of Greece as Bear Sterns and Puerto Rico as Merrill Lynch, Ukraine as WAMU and a couple of other peripherals as Fannie, Freddie andWachovia, these small countries and other sovereignties would be the 4-6 linkages to a systemic collapse.  Remember that the central banks have pumped at least!! $60 trillion in QE to prop up a failing world wide financial system.  It takes a long time to burn through 60 billion.  China and Japan are both vulnerable to major hits and while they might not fail per se, a larger collapse of China’s stock market, bonds, shadow banking, export markets and growth along with a destruction of collateral values that support most of its loans, and China could easily torch off a major fire.

      The derivatives cannot be capped, bailed out or ignored much longer  There is not enough FIAT in the entire world to handle that, no matter how big a bail in in done

      The thing that concerns me most is not the reset. It’s the CB and government actions of theft and total expropriation that could destroy a large part of the world’s population.

      • Vlad thinks my brother is spot on

         

      • hey AG,the funny thing about “made out of thin air”.is that it can vanish from thin air also.there won’t be a reset. china is all a lie.their stock market is even a bigger joke.”IF’ the yuan makes the sdr basket………………it sure as hell won’t be the “new reserve currency”, because all their stats are B.S. they can have all the precious they can stack,and unless a third part goes in and counts the stuff,it’s just a liars game on who has the most. i’m not saying they don’t have any,but having lived,and married to a chink early on in my life gives me first hand knowledge on how they conduct themselves. he who can get away with the biggest lie,wins. don’t get me started on their gambling.they are worse than the japanese.

      • @AGXIIK

         

        “The thing that concerns me most is not the reset. It’s the CB and government actions of theft and total expropriation that could destroy a large part of the world’s population.”

         

        Indeed so, Bro.  My main fear in all this is that governments and CBs will fail to recognize a situation that cannot be saved when it comes, so will do all manner of skulduggery that will absolutely impoverish everyone within their reach.  So, anyone wanting to hold onto their wealth would be well advised to keep a large chunk of it safely hidden away from sticky fingered banksters and politicians.  If it is easy to grab, such as in a bank, it WILL be grabbed.  :-(

         

    • The US of A is at economic war.  Russia, Iran, North Korea, etc., are the obvious wars via sanctions.  The “underground war” is with China.  China wants to have a  reserve currency.  To have a reserve currency, you need a great banking system, a great stock-market, and a hoard of gold.  China is mining their hoard of gold outside of US of A control.  So the only way the US of A can maintain its power is by attempting to prevent China AIIB via banking system attacks, and stock-market attacks.

      Since the US of A can’t have metals as a basis of its corrupt economic system.  The FED is paying the world’s large banks to force down the prices of metals.  This is playing into to China’s plan of acquiring gold.  China is already on a gold standard.  The US of A will not give up power graciously.

      On the other side, Cyprus, Greece, Portugal, Spain, Italy, etc., are all in the same boat.  Cyprus is done.  Greece is next.  Greece can’t pay. The credit default swaps will not be paid.  There is no more actual money or credit.

      The Global Economic Crisis is on the way.  Will it officially start when the China AIIB is brought on line?

       

      • There is something else that China needs in order to have a reserve currency and that is a currency that is not pegged to the US dollar.  I don’t think that any currency can be a reserve currency if it is a derivative of another currency, which the yuan currently is.  So, given this, when does China end their peg to the US dollar?  When the peg ends, will the dollar be devalued?  If the US$ is devalued, then the price of gold will necessarily rise in US$.  Things to ponder…

         

    • Absolutely NOTHING to see here except another GLOOM & DOOM article.
      (written by none other that Bill “THE SKY IS FALLING” Holter)

    • A few hours after the Greek government said there would be no capital controls they implemented capital controls. They are not heroes.

  • The Cyprus Template: Are the Banksters preparing to release their “Ultimate Weapon” to squash the Greek resistance? 

     

    Submitted by The Wealth Watchman:

    This week we’ll take a closer look at the showdown […]

  • Below we present a Forensic Analysis of a financial crime scene: the June 26th Silver Flash Crash:

     

    Submitted by Keith Weiner, Monetary Metals:

    On Friday morning, at around midnight (Arizona time), the […]

  • With the tremendous amount of volatility in the movement of bond yields over the past month, the Mother of all Black Swans may finally take place in the latter part of the year.
    It seems as if precious metals […]

  • It wouldn’t take much for these events to come home to America… and plenty of fuel for a further crisis is in the works…

     

     

    Submitted by Mac Slavo, STHFPlan:

     

    Record numbers of struggling […]

    • We are 3+/- days away from open riots in our streets ON ANY DAY…

      Could happen “sooner”, if those EBT cards stop working all at once!.

      Stay aware at ALL TIMES, at ALL PLACES, be prepared to defend yourself without warning!.

      Even a simple 2-weeks supply of something to eat could mean survival vs death, eh?

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