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:

Cypriots scalped*Updated: In response, a bomb has just been detonated at the Limassol branch of the Bank of Cyprus

Multiple breaking reports indicate that in an early Monday meeting with Lagarde, Draghi, & Von Rompuy, Cyprus’ President Anastasiades has agreed to a Cypriot bank restructuring/ depositor haircut deal in exchange for €10 billion in emergency loans from the ECB.

The deal reportedly will avoid the necessity for any vote by the Greek Parliament, and is far, far, far worse for Cypriot citizens and depositors than the one the Cypriot legislature voted down on Thursday, as the ECB will reportedly be handing out 40% haircuts for depositors with over €100,000 on deposit in the Bank of Cyprus, and deposits over €100,000 at Cyprus Popular bank will be WIPED OUT!!!

Forget haircuts, the Cypriots have just been scalped alive by the ECB & IMF!

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!


Depositor haircut wealth confiscations have just gone from a one-off in Cyprus to the new thing in 2013.
The New Zealand government is reportedly pursuing a policy of Cyprus style depositor haircuts for all future bank failures!

The plan would not limit the haircuts to any percentage, but would steal whatever is necessary from depositors to prop up the failing bank institution: Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

The rule of law in the entire Western financial world is apparently vaporizing faster than the spent fuel at Fukushima.

bank panicSubmitted by Bill Holter

They can’t undo this one!
Yesterday we heard that the amounts of “theft” from Cypriot depositors may be different than originally announced.  It now appears that the Cypriot Parliament will not approve the wealth confiscation of their citizens.   What a strange thought, can you imagine if this bank heist doesn’t go through?  If they said “aw shucks, we were just kidding”?  Can you imagine the bank runs?  Would you suppose that some 90++% of deposits might be withdrawn by Friday’s close? 
No, this puppy (bank run panic) is pregnant, not just “a little bit” mind you but ready to deliver pregnant.

One thing that I know for a fact that this will do is increase demand for Gold and Silver.
It will be very difficult to keep the lid on contagion and panic spreading from this incident.  It will be difficult because when a fire breaks out within a theater, people don’t stop to go to the restroom, people will want OUT…ALL THE WAY OUT!
“Out” as in physical, non tungstened, real physical Gold IN their hands and out of the system which is now known to even the most blind, mentally deficient, head in the sand “ignorant” as a fraud! 

sinclairLegendary gold trader Jim Sinclair sent an alert to email subscribers this morning stating that the reason gold was massively shorted by the banksters at $1800 down to the lows near $1530 was the fact that inside info was intentionally leaked to them by governments wishing to suppress the gold (& silver) price that quantitative easing would be shifting to depositor haircut bail-ins

Sinclair states that as is plainly seen by the rapidly spiraling out of control Cypriot bail-in, the reason why gold has been so heavily shorted in the paper market is NOT valid, and shorts in the paper market must cover.
Sinclair states that this week’s events in Cyprus ensure that QE to infinity has its foundation solidly set in cement.

Sinclair’s full MUST READ alert is below: