Submitted By Bill Holter, Miles Franklin Ltd,:
Though you haven’t heard a peep out of the media, the Cyprus parliament voted Tuesday on their own financial execution. They basically had 2 choices, they could vote themselves out of the EU and everyone loses their bank balances…or they could remain in the EU and lose 90%+- of their bank balances. Option A would mean going the route of Iceland which 5+ years after their collapse is one of the few economies in the world that is actually growing again, option B would mean sticking with the “known” evil which includes the iron anvil of the the Euro attached to their feet for the future. Option A is obviously in their best interest, option B is what they chose.