Simon Black is keeping close tabs on the bank that gets plenty of bail-outs, favoritism, and key influence of critical government cabinet appointments worldwide. Now, the “World’s most powerful bank” has issued a major warning…
Simon Black is out with a warning for people who keep their money in the bank. The Sovereign Man has not just one, two or three technical reasons to take some money out of the “safety” of the banking system, but some simple down-home common sense reasons too…
Many assume the next round of bank bail-outs will start outside the United States first, then end here as the US will have the last banks standing. Today, reports are coming in of another global sovereign bank bail-out, and it is not in Italy or Spain
The Banksters Have Plans For Your Assets – Do You Have the Sword of Self-Defense?
What I’m about to tell you is a true story…
The Man who predicted the 1987 Black Monday crash to the exact day is now sounding the alarm on Deutsche Bank:
“Deutsche Bank was extremely aggressive in derivatives. It’s a SERIOUS CRISIS here. DB is not just the biggest bank of Germany, its the Cadillac of Europe! The derivatives could create a Contagion – It’s not looking good…”
Deposit bail-in risks are slowly being realized in Ireland, after it emerged overnight that FBD, one of Ireland’s largest insurance companies, have been moving cash out of Irish bank deposits and into bonds.
Twenty of them to make the same announcement!?!
We’ve warned that bankrupt governments will be eyeing the multi-trillions of dollars in “un-taxed” retirement funds when they get desperate enough.
Total funds currently held in private IRA and 401K accounts in the US are estimated to be in the neighborhood of $10 trillion.
As we dance on the brink of a massive collapse, the government’s already empty coffers will be even further decimated as the economy contracts massively and tax receipts plummet.
In that moment, rather than reducing expenditures and doing massive layoffs and closures of departments, like any regular business would do, politicians will nationalize retirement funds for the “good of the country”.
The only sources of funds that can be drawn upon, confiscated, and large enough to backstop the bad bets that will float to the surface after the BREXIT tsunami are Just US; our funds, savings and pension plans…
Bank bail ins in the EU are here after Austria’s financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank.
Creditors in the bank Heta Asset Resolution will receive less than half of their money back according to the country’s financial regulator, the FMA…
On Friday March 15, 2013–just over three years ago–people across the entire nation of Cyprus went to bed believing that everything was OK.
The next morning they woke up to a different reality…
On January 1st, 2016, the new bail-in regime became law putting at risk the deposits of savers and companies in the EU.
The bail-in architecture was seen in the Cyprus bank bail-ins that were seen in 2013. Then, deposits of over €100,000 were confiscated in “haircuts” in order to bail out banks in Cyprus. Now the exact same principles that were used in Cyprus – which we were told was unique and a one off – are going to apply to all of Europe.
- Greek problem is not $3 billion, its $3 TRILLION IN DERIVATIVES– Will ISDA Allow Default?
- Greek default WAS NOT PRICED IN- Why a MASSIVE LIQUIDITY EVENT has been triggered!
- End Game for Greek Depositors- Are the Depositor Haircuts and Bail-ins Imminent?
- Bill Warns: Greece Is Going to Happen Here- The Credit System is Going to Collapse!
- Gold Will Get Your Wealth into the Next System After a Reset Occurs
- JPM Corners the Commodities Derivatives Market Adding $3 TRILLION
- COMEX Will Go Force Majeure Allowing JPM to Unwind Massive Short PositionBill Holter’s Full MUST LISTEN Greek Alert is Below:
The only way to prevent financial Armageddon is to declare all markets on holiday. However, the most interesting market to watch will be the re-pricing of the market for physical precious metals. Even if they suspend the trading of fraudulent paper futures trading, an over-the-counter – or even “black” market – for physical bullion will develop. This is because, unlike futures contracts, buyers and sellers can effectuate an exchange of physical for fiat paper.
Of course, I believe that this market would open up “bid without,” meaning buyers will stick bids out looking for offers.
There’s nothing more terrifying in the markets than trading a market that goes “bid without” when you are short.
The short position will cause heart attacks and Bill Murphy’s prediction that they will carry gold shorts out of the Comex on stretchers will come to fruition.
I am of the opinion that some of the Greek banks will not open Monday and those that remain open will shut down with a day of opening or at least by June 30. The ECB and IMF are looking at June 30 as the absolutely deadline for full on default, no concealing it any more.
The ELA must protect its position and will likely order a bank holiday and full on capital controls because the bank deposits are now less than what is owned. Collateral is going to be worth ZERO in short order as a Greek default shoots rates to 50-90% on 2 year bonds, just like the last time Greece took the haircut that avoided a full default 2 years ago.
This will precipitate a bail-in as the ELA, along with the troika, will demand full deposit theft to protect this 100 billion euro assets still within reach. Bank holiday will give the troika and ELA provisions time to extract everything they can reach in these accounts. If the Greek central bank does not nationalize the banks sometime between Sunday and Wednesday, the banks will fail and crash, throwing the entire system into chaos.