Jim Sinclair: Those Who Remain In The System Will Pay For The Banksters’ Sins!

Source: Chip Somodevilla/Getty Images

Source: Chip Somodevilla/Getty Images

Continuing his quest to protect average citizens from the coming destruction wrought by the banksters and their OTC derivative melt-down, Jim Sinclair has sent another alert to subscribers, this time warning that those who remain in the current financial system are going to pay for the sins of the banksters.
Like a massive financial tsunami, Sinclair states that what is coming will completely wipe out those who fail to move their financial assets to safe ground (physical gold and silver) prior to the “great leveling”, and that the only financial funds that will survive the coming legacy OTC collapse will be monies held in the BRICS’ financial systems.

Sinclair’s full MUST READ alert is below: [Read more...]

Switzerland Revises 1934 Banking Act to Allow Bail-in Deposit Confiscations!

The Swiss Financial Market Supervisory Authority (FINMA) has quietly joined the growing parade of western nations who have quietly re-written banking laws to allow depositor bail-ins upon the next banking crisis.
If Switzerland, the once ultimate safe haven for banking deposits across the world is preparing to confiscate depositors funds, there truly is no protection anywhere other than physical gold and silver in your own possession!

In the event that a bank is failing or where its capitalization is no longer adequate, the Swiss Financial Market Supervisory Authority (“FINMA”) may take measures to improve such bank’s financial viability rather than liquidating it. “Loss absorption” and “bail-in” are important instruments to support any such measures. [Read more...]

BOE’s Carney’s DIESELBOOM: Policy-Makers Working Diligently to Devise an International “Bail-In” Regime

bail-inOutgoing Bank of Canada Governor (& Goldman alum and incoming BOE Governor) Mark Carney just released an epic Freudian slip today during a televised speech in Washington regarding the Western financial system’s co-ordinated move from bailouts to bail-ins as official policy to future bank crises.

It’s one thing when the editor of an obscure financial blog discovers bail-in language written into policy by the Fed, Bank of England, the Bank of Canada, Italy, & New Zealand and it goes viral throughout the alternate financial blogosphere, and it is another thing entirely when the incoming head of the Bank of England himself accidentally lets slip that Western financial policy-makers are working diligently to devise an international “bail-in” regime to prevent big bank failures.

Mark Carney’s DIESELBOOMesq retraction in 3…2…1…. [Read more...]

Eric Sprott: Cyprus to Trigger Global Bank Runs, Metals Shorts in for a Rude Awakening!

bankrunIn this tremendous interview with our friend Eric Sprott, Patrick MontesDeOca chats with the CEO of Sprott Asset management with $10 billion under management.
In this interview Eric gives us his insight and wisdom as it relates to Cyprus as the “Black Swan”,and how it could trigger major bank runs globally. Metals shorts are in for a rude awakening!
Sprott discusses the ongoing collapse and how the COMEX is easily manipulated and not reflective of actual supply and demand.
[Read more...]

IMF Forces Cyprus to Sell €400 Million Worth of Gold!

A breaking Reuters report has revealed that to what should come as no surprise to SD readers, buried in the Troika’s bailout of Cyprus, is a stipulation that Cyprus hand over 10 tons (€400 million)  in gold reserves to the ECB/IMF pirates bureaucrats.

Like every other engineered crisis over the past 10 years, it was all about the gold. [Read more...]

Dirty Harry to World Savers “You’ve Got To Ask Yourself…Do You Feel Lucky?

bail-inFor all those savers and investors young enough not to remember the 1971 American film classic, “Dirty Harry,” there is a scene in the beginning of the film in which the protagonist, San Francisco Detective Harry Callahan (played by Clint Eastwood) interrupts an afternoon bank robbery by shooting the three perpetrators as they try to escape.

Harry kills two of the robbers but one wounded bandit lying on the street contemplates picking up his fallen shot gun to shoot Harry. At this juncture, Clint Eastwood levels his .44 magnum hand gun at the wounded robber who is trying to recall if Callahan has fired all the rounds in his revolver. Callahan says, “I know what you’re thinkin’. Did he fire six shots or only five?… You’ve got to ask yourself one question…Do you feel lucky?… Well, do you, punk?

In a complete role reversal of the good guys and the bad guys, the world banking elite has been, for some time now, pointing a great big dangerous gun at the heads of all savers and investors on the planet. The bullets in that gun are each a little different but still extremely deadly. Here is what investors worldwide are facing: [Read more...]

A Tipping Point In The Financial System

tipping pointMarch and April 2013 may go down in history as the tipping point for the western financial system.
The veil of banker honesty has been lifted. The EU/IMF/ECB will do whatever is necessary to support the banks, even if it means they will confiscate (tax, steal, bail-in) customer deposits.
Customer deposits are NOT assets held in the bank for safe-keeping, but are liabilities of the bank and are not guaranteed to be made whole.
Billions of dollars were removed prior to the Cyprus freeze, so insiders clearly knew in advance of the ordinary depositors (see below). There is no “level playing field” when billions of dollars/euros are in play.
According to Jeroen Dijsselbloem, Dutch finance minister and Euro Group President, this is “the template for any future bank bailouts.” In other words, your deposits are considerably less safe than you thought. Your bank could fail, and your deposits might be used to compensate for derivative losses or other losses that the bank incurred.

 

[Read more...]

It’s head for “the mattresses” time for savers worldwide

Cyprus bailinThroughout the colorful history of organized crime in the United States, periodic eruptions of inter-gang Mafia violence have dotted the criminal landscape. When turf wars broke out between competing crime families in major cities such as New York and Chicago, the combatants would conduct their warfare from unsavory redoubts such as abandoned warehouses or low-rent hotels and apartments. In such locations, the soldiers would spend their off hours sleeping on rented mattresses until the internecine conflicts had run their course; hence the expression “going to the mattresses.”

Well, there is another turf war going on, a worldwide one, one that threatens the entire economic and political landscape of the planet. It is between all the hard working savers on the planet and the ever greedy criminal bankers and their cohorts in government. The real big canary singing out an extreme danger warning to all traditional savers who wish to entrust their wealth to banks and other paper vehicles – stocks, bonds, etc., is the incredible emergency banking shutdown in the tiny island nation of Cyprus. [Read more...]

Bernanke States Cyprus Style Depositor Haircuts Possible in US if Events in Europe Become Contagious!

haircut

At this afternoon’s FOMC Press Conference in response to a question posed as to whether the Fed would ever impose depositor haircuts as was attempted this week in Cyprus, Fed Chairman Ben Bernanke confirmed that Cyprus style depositor haircut wealth confiscation is possible here in the US if the Cyprus event or another event in Europe were to become contagious and the people lose confidence in the US dollar.


GOT PHYZZ??
[Read more...]

ECB/IMF Banksters Attempting to Increase Cypriot Haircuts to 13% For Large Accounts!

haircutThis afternoon we reported that the Cypriot Parliament vote on the depositor banking haircut had been delayed until Monday as the banking cartel was 33% short of the necessary votes needed to pass the bail-in/ wealth confiscation.
In a desperate attempt to appease Cypriots and pass the measure Monday, RT reports that the IMF is discussing reducing the wealth confiscation for deposits under €100,000 to 3%, and compensating by raising the tax to approximately 13% on larger accounts (i.e. wealthy foreign Russian oligarchs).   [Read more...]