Reggie Middleton Keiser ReportReggie Middleton uncovers extremely unnerving omissions, misrepresentations and what appears to be outright fraud in the Irish banking system along with an in depth interview with Max Keiser in London. He names several banks directly, some which have already failed, been bailed out and collapsed their investor’s capital, others who are still operating, taking deposits and making loans.
Directly after Mr. Middleton’s Irish bank expose series started, the head of the Bank of Ireland (Ireland’s main bank regulator and what used to be their reserve bank until the ECB took over) unexpectedly resigned and actually decided to forgo his 100,000 euro bonus.
Mr. Middleton discusses the distinct possibility of the Irish people getting “Cyprus’d” and offers tools that they can use to mitigate the risk and ascertain how bad off their country really is.

petro dollar sunset WillieBy Jim Willie, GoldenJackass.com

Editor Note: The following MUST READ Hat Trick Letter is Jim Willie’s self-described “Most Important Article Ever“, following Friday’s release of Willie’s first audio interview on Cyprus.

An unstoppable sequence of events has been put into motion finally. The pressure has been building for months. Some themes are plainly evident, except to those who wear rose colored glasses in the US Dome of Perception. The USTreasury Bond will be brought home to the US and British banks, where it will choke its bankers, then be devalued for survival reasons, after a painful isolation. The Chinese and Russians will conspire to finance the Eurasian Trade Zone corridor foundation with USTBonds, held in reserve, put to usage. The British will play a very unusual role, selling out the United States in order to be squires to the Eastern Duo. The process has begun; it cannot be stopped. The events are already being grossly misinterpreted and minimized in the US press, where devoted lapdogs, artistic swindlers, and creative writers prevail. The Paradigm Shift eastward is showing its next face, with a truly massive trade zone for cooperation and reduced cost overhead as the giant foundation. The Untied States for all of its past hegemony and devious manipulations and vicious attacks, will be excluded. The British will assist in the exclusion in order to avoid the Third World themselves. The following blueprint is the result of years of planning, with steady information and hints and confirmations by at least two Hat Trick Letter sources. The sunset of the USDollar has a blueprint.
As a personal embroidery, let me state that this article is the most important the Jackass has ever written.

flash pointThe Golden Jackass Jim Willie has finally given his long anticipated first public thoughts on Cyprus.

Willie states that Cyprus is the long awaited FLASH POINT the metals community has been anticipating, and it will in time invoke a great awakening as to the reality of today’s Western financial system by the public, and will result in a massive shift into physical gold and silver.

Willie states that Cyprus was Russia’s back door banking gateway into the Western financial system, and that the true numbers of Russian wealth hidden in the Cypriot banking system is not $20 billion as is being reported by the Western press, but $trillions!

The Golden Jackass states that mind-numbing hundreds of $billions have been fleeing Cyprus for Dubai, Hong Kong, and Singapore over the past 9 months, and that the depositor outflows will devolve into contagion and full-scale bank-runs throughout Italy, Spain, Portugal, Ireland, & Greece.
The tipping point is coming, and those who don’t remove their funds proactively will be slaughtered!

Jim Willie’s full MUST LISTEN interview on the implications of Cyprus is below:

Money manager Peter Schiff says, “Cyprus is a wake-up call for everybody who has a bank deposit. . . . When you are depositor, you are in fact . . . lending your money to the bank.” Schiff predicts, “There’s no question . . . banks will fail. The question is will government do the right thing and allow depositors to lose money. Or, do the wrong thing and bailout depositors by printing a bunch of money which, in the long run, means deposits will lose even more value.” The FDIC has just $33 billion to insure more than $10.8 trillion in deposits. Schiff is not expecting bank runs anytime soon. “Don’t expect an immediate stampede on the banks because I don’t think most people are smart enough to realize what the danger is,” says Schiff. What’s the best way to protect yourself? Schiff says, “Why would you leave any extra money in a bank to get zero percent interest. . . . I think pull your money out, put it into some kind of investment. . . . anything other than a piece of paper that’s going to lose value.” Join Greg Hunter as he goes One-on-One with Peter Schiff.

20121003_grant_0Jim Grant was back on CNBC comparing the ticking shot-clock in a March Madness game to the artificially low interest rates via manipulation by the Federal Reserve, allowing the Fed to stall the game without any real recovery.

Grant also discusses his belief that the problems in Cyprus cannot be contained, and stresses the point that Your money in the Western banking system is not really yours if it is needed by the state!
Grant goes on to state that This is the greatest and most perilous experiment in the history of paper money! and  This will end in immense destruction of wealth!

Full interview is below:

superwomanCypriot Central Bank head Panicos Demetriades has just stated that Cyprus is making a ‘superhuman’ effort to reopen banks by Thursday.
Assuming the banks do re-open Thursday (which is probably not a very good assumption considering Cyprus is already set one of the longest bank holidays in history), we suspect Demetriades will discover that a truly superhuman effort will be required to keep Cypriot banks solvent through Friday’s close and into the weekend.

The Cypriot case is all over the place, in all types of media. However, it is amazing how the following simple facts remain underexposed. It is one thing to look at the news; it is another thing to look at the learning that comes out of the news.
For those who are willing to see, here is what Cyprus is teaching the whole world about money, the debt crisis and gold.

gold vaultA survey for the World Gold Council found that just 4% of people in Italy would back plans to sell the nation’s gold reserves according to Bloomberg.
Some 52% of citizens and 61% of business people would support the use of the nation’s gold reserves to reduce debt costs, the World Gold Council said. The study by Ipsos MORI surveyed 1,009 Italian citizens aged 16-70 and 300 business leaders.

Whether to sell Italy’s national gold reserves is an interesting question. A perhaps as interesting question and more important question in the light of the Troika expropriation of bank deposits is will Italians begin to diversify some of their savings in Italian banks into gold bullion?
The answer is almost certainly yes and the recent trickle of Italian money flowing into gold bullion, including into vaults in Switzerland, is likely to become something far more substantial in the coming weeks.
Capital flows out of periphery European banks and into gold has been quite low up until now but with deposits not safe now in the European Union that is likely to change and gold is likely to be one of the beneficiaries of the huge uncertainty that the Troika has managed to create about the banks in many European countries.

letter from CyprusAn SD reader has submitted a boots on the ground report on the escalating crisis in Cyprus, as the entire Cypriot economy is now on the verge of collapse:

Nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed.
If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise.
If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash
.

Cyprus haircutsRT reports that Cyprus & Troika officials have agreed to a 20% haircut on all deposits over €100,000 at Bank of Cyprus, and 4% on deposits at other Cypriot banks
Which essentially means nothing until the measure is passed by the Cypriot Parliament. 

With the ECB/IMF threatening (bluffing) to kick Cyprus out of the Eurozone unless €5.8 billion is raised/ stolen from Cypriot depositors by Monday, the next 24 hours should be quite interesting as we see whether Cyprus holds its ground and follows in the footsteps of Iceland, or kowtows to the ECB bureaucrats and agrees to a 20% theft of it’s wealthiest citizens.  (particularly following yesterday’s report that insiders tipped off the majority of wealthy Russians in the days leading up to last Friday’s announcement, meaning Russian wealth is already looong gone) 

rocketSubmitted by Deepcaster:

A Climacteric began in the International Economy and Markets last week. Its Ramifications have not been widely acknowledged. It provides Great Opportunity and Great Risk. Moreover, this Mega-Development signaled that a Great Opportunity Window is beginning to close. And it signaled loud and clear that The Great Danger of which we have earlier written is approaching ever nearer.

FDICWhat is more likely to hurt you is what you think you KNOW that is WRONG. What you don’t know is often not that important. Consider a few examples:

Cyprus Bank Accounts.  MF Global.  Social Security.  Retirement Accounts.  Europe in 1913.  Real Estate.  The dollar is as good as gold.

There are many other examples, but the essential truth is simple: For the most part, we are ignorant of many ideas and events in the world, and it rarely matters. But, what is often costly and destructive are the ideas and beliefs that we think are true – when in fact they are quite wrong.

Our savings and retirements are at risk when we invest them based on beliefs that may be incorrect. This is one of many reasons why people buy gold and silver – for insurance against unexpected events. What if our perception of financial reality is incorrect or if we are ignoring financial reality? Ayn Rand said it best, “You can ignore reality, but you cannot ignore the consequences of ignoring reality.”

Cyprus bank freezeGermany’s Handelsblatt reports early Friday that the ECB has informed Cypriot authorities that due to a guaranteed epic bank run of their own making that will undoubtedly begin the moment Cyprus’ banks re-open, the ECB intends to enact capital controls when (if) the Cypriot banking system re-opens next week, and that the ECB intends to enforce the capital controls unilaterally!

Handelsblatt claims Cypriot Central Bank sources have stated that the ECB intends to freeze all Cypriot savings accounts indefinitely, greatly reduce the maximum amounts of ATM withdrawals, and will require Central Bank approval for all bank transfers!

The ECB/ Cypriot bailout situation has just gone full retard as the latest proposal reportedly has the ECB seeking to split up Cypriot banks into a good bank/bad bank, with wealthy (ie Russian) depositors in the bad bank being uninsured, and receiving a 40% haircut on deposits over €100,000!

*EURO AREA SAID TO WEIGH CLOSING CYPRUS POPULAR, BANK OF CYPRUS
*EURO AREA SAID TO WEIGH GOOD BANK, BAD BANK FOR CYPRUS BANKS
*UNINSURED DEPOSITS COULD GO TO CYPRUS BAD BANK, FACE 40% LOSS

imagesThe Guerrero Gold Belt, a sexy, new, developing mining district in the state of Guerrero, Mexico, has attracted some exciting explorers that have unearthed key discoveries. While several companies have gone on land-grabbing sprees, there’s still good news: the Guerrero is growing. Merrill McHenry, metals and mining analyst with Industrial Alliance Securities in Toronto and an expert on the area, believes the Guerrero could be more than twice as large as it’s currently defined—potentially becoming one of the largest gold districts in the world. McHenry tells The Gold Report which companies are strategically positioned to grow and develop within the Guerrero Gold Belt. He also discusses the impact of the evolving Cyprus financial crisis on gold.

Ron-Paul-with-Silver-Circle-Round[1]Dr. Ron Paul was interviewed by Fox after the U.S. Federal Reserve confirmed it will continue its QE program highlights the importance of gold as money.

On July 13, 2011, when Dr. Paul was a U.S. Congressman he asked U.S. Fed Chairman, Ben Bernanke, “Do you think gold is money?” and Bernanke replied, “No, it’s a precious metal.”   Dr. Paul countered, “Even though it’s been used for 6,000 years?” But Bernanke denied gold was money and said, “No, it’s an asset. Just like T-Bill’s are not money.”

The Fox News interviewer then commented, “Cyprus has taught us that governments can confiscate money that you’ve earned or even paid taxes on. Rampant quantitative easing and price fixing by governments may prop up the stock markets but it doesn’t keep unemployment down. The U.S. Fed is going to continue its QE program which is good for gold.”

cyprusIn this excellent report by SmartKnowledgeU’s JS Kim, JS discusses the attempted theft of 10% of Cypriot funds by the European banksters, and points out that the Western Central banksters have routinely been executing a far greater theft against everyone than any of the numbers proposed in Cyprus.

People are rightfully infuriated over the bankers’ attempt to steal 10%+ of all Cyprus bank accounts recently to bail out the banks. What people must realize is that bankers have been executing a far greater theft against all of us through inflation than the proposed Cyprus theft and here’s what we can do to stop it.

CyprusOur friend Sean from SGTReport has released an interview with Harley Schlanger discussing how the Cyprus depositor haircut was merely a test run for the real wealth confiscation events planned for Italy, Spain, and France.

This is a 25-minute uninterrupted conversation with Harley Schlanger, historian and national Spokesperson for LaRouchePAC. Harley and I discuss the latest from Cyprus and the Euro Zone where the Banksters in Germany, in the City of London and at the IMF have reached new levels of criminality. Make no mistake about it, as bad as the attempted THEFT in Cyprus is, the real risk is in Italy and France which owe HUNDREDS of BILLIONS. Cyprus is merely a litmus test for what the Banksters would really like to do, which is to RAPE the entire Euro Zone in order to “save” the criminal banks and save their overtly criminal, overtly evil system.

bank collapseSubmitted by Bill Holter:

The news over the weekend is that the Cyprus banking system will have a “holiday” on Monday which was “scheduled” AND at least Tuesday which was not.  The ECB and IMF wanted a 40% haircut and apparently the deal reached is one where balances under €100,000 will be reduced by 6.75% and by 9.9% for those over €100,000.  Understand that much of what is deposited in Cyprus are funds from wealthy Russian oligarchs and mafia. 

This is a disaster on so many levels I can’t even count them all.  First off, what happened to the rule of law?  I thought that in a capitalistic society that equity holders lose first, then preferred shareholders followed by unsecured then secured debtors…DEPOSITORS are the absolute last in line to lose money.  This is being called a “tax”, when in reality it is outright theft! 

In this case the depositors are first in line which will surely cause a bank run in Cyprus…which will be followed by runs in other places like Greece, Spain, Italy and Portugal.  Make no mistake, this could turn into something ugly and HUGE very quickly as the world runs entirely on confidence and won’t run without it.

Investors (depositors) the world over will see this and shortly understand that the rule of law is no longer and that “possession” is now more than 9/10th’s of the law.  The possibility exists that within 2 weeks the entire system is shuttered. 

Sunday’s scheduled Cypriot Parliament vote was delayed until Monday as the banksters did not have enough votes. Today’s scheduled 4pm vote has been delayed till Tuesday, with reports that the vote could be delayed as late as Friday (while the Cypriot banking system remains shut down in a bank holiday until the banksters receive their proper vote).
Below is why the Cypriot bank holiday may not be ending any time soon…

cyprus bail outOur friend Sean from SGTReport looks at the banksters next target after the Cypriot pillage is complete.  Who’s next?

The Banksters in the EU have announced that they intend to STEAL cash from the savings accounts of the people in Cyprus, and give that cash to the criminal BANKS! This is an overt, malevolent act of total evil. It cannot stand. It is the epitome of everything we’ve been warning about for years. This is the proof that the real world war is the one of the Banksters VS Humanity. The question now is, who’s next?