It's hard to believe the Cyprus debacle commenced just two weeks ago, as more has been written of this HISTORIC event than any since the U.S lost its AAA credit rating in August 2011; as it should, given the horrific precedents set...
25 lessons from the Cyprus 'Deal'
...sacrosanct taboos broken...
The Seven Broken Taboos of the Cyprus Deal
...draconian decrees enacted...
Cyprus capital controls could blow the euro apart
...and loss of confidence from government LIES...
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Source: Zero Hedge
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...particularly by a man elected last month...
Cyprus election: Nicos Anastasiades elected president - February 25, 2013
...who circumvented Parliament's 36-0 vote...
Cyprus's Parliament Rejects a Tax on Bank Deposits - March 19, 2013
...and wishes...
Cyprus Parliament President says "No Future" under Troika, Calls for "Iceland" Solution
...just six days later; when he "reworded" the deal's terms to avoid a new vote...
EU finance ministers approve Cyprus bailout deal, funded by bank assets seizure - March 25, 2013
...thus, STEALING citizens' funds...
Bank of Cyprus's Customers May Lose as Much as 60% on Deposits
...while simultaneously, moving his own money out of the country (you can't make this stuff up!)...
Cyprus President's Family Transferred Tens of Millions to London Days before Deposit Haircuts
Quantitatively, there is NOTHING unique about Cyprus...
But Isn't Cyprus "Unique"?
...and thus, it's only a matter of time before other PIIGS share a similar fate...
Who's Next? Italy's Monte Paschi admits Billions in Deposit Outflows
...particularly the "next Cyprus" - albeit MUCH bigger...
"Tragic" Cyprus Contagion to Cripple 1,600 Greek Businesses
...now that the EU's strategy is exposed...
Why Mr. Dijsselbloem is Right and Cyprus is a Template for the Eurozone
Cyprus was indeed a WAKE UP CALL for the world...
Cyprus and Gold: Lighting a Candle in a Dark Room
...clearly, an HISTORIC event...
Sinclair - One of the Most Important Events in History & Gold
...yielding financial DISASTER...
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| Biderman's Daily Edge: Cyprus is a Milestone to Economic Disaster |
...and accelerating the inevitable COLLAPSE of the European Union...
'Euro is a house of cards waiting to topple'- Nigel Farage
...as most nations realize their futures will be MUCH brighter without EU shackles...
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Source: Zero Hedge
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As of today, ALL bank accounts are "fair game"...
We are all "Cypriots" now! - Bill Holter, Miles Franklin
...even in "civilized" nations...
It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors
...and thus, Miles Franklin's long-standing call to exit "the system" appears more poignant than ever...
Sinclair - you are "out of the system" if
As for the REST OF THE WORLD, no amount of PROPAGANDA can hide economic contraction; as in the Far East, where the "Land of the Setting Sun" is on the verge of collapse...
Japan stocks slip after 'tankan' survey results
...as its manufacturing sector dies...
Why Are Japan's Manufacturers So Bearish?
...and PRINTING PRESSES go into overdrive...
The Abenomics Farce Continues
...while the threat of regional WAR intensifies...
North Korea says it enters "War" against South Korea
In Europe, monetary policy (i.e., PRINTING) has FAILED...
Why European Monetary Policy Is Now Impotent
...forcing governments to turn Communist...
France's Hollande hits companies with 75 percent wealth tax
...and Cyprus may have killed any remaining hope of recovery...
Europe's last Green Shoot is Wilting
In the United States of World Destruction, even I - RANTING ANDY - am intimidated by the ENORMOUS amount of "horrible headlines" over a supposedly quiet holiday weekend. As the economy stagnates...
Prolonged Winter Put Retail Sales in Deep Freeze
Toys"R"Us Withdraws IPO after Dismal Earnings
...debt explodes...
Weimar vs USA: The Fall of the Second Empire of Debt
...savings collapse...
US Savings Rate near Record Low, Per Capita Disposable Income almost back to December 2006 Level
...the REAL housing market flatlines...
Spot the Housing Recovery
...and corruption proliferates...
Banks win again as Judge Tosses Antitrust Claims in Libor Lawsuit
...the only true "growth industries" are welfare...
Unwilling to Work; 25% in Hale County AL Collect Disability, 14 Million Nationwide; A Simple Solution
...and anxiety...
Gun Store Owners: Ammo Shipments are not even making it to Shelves
...per my recent RANT...
"AMMUNITION SOLD OUT!"
MONEY PRINTING grossly distorts the system...
Tom Hoenig: "This System Distorts the Market and Turns Appropriate Risk-Taking into Recklessness"
...yielding an unfathomable return of rank SPECULATION...
"LEVERAGE INSANITY RETURNS!"
"Financial terrorists" continue to DESTROY citizens...
BofA Tops Financial-Complaint List
...and now that they are "too big to jail"...
Eric Holder Admits Some Banks Are Just Too Big To Prosecute
...the excesses have reached spiritual levels...
REITs Trigger Fed Warning as Kain Tops $100 Billion
...as organized crime thrives...
40% of all trading is now done in dark pools and off exchanges
...and "peons" struggle to survive...
Obama's 'change': 1% get 81% income gains then tax-shelter $21-$32 trillion; bottom 90% lose income
As these malignant forces gather, the dollar's "reserve status" is dying...
Thanks, World Reserve Currency, but no Thanks: Australia and China to Enable Direct Currency Convertibility
...inevitably, to collapse...
USDollar: Ring-Fenced & Checkmate - Jim Willie
...as "Economic Mother Nature" asserts her wrath...
Guest Post: Preparing for Inflationary Times
...and REAL MONEY returns...
Arizona Lawmakers Advance Bill Allowing Gold and Silver as Money; Bureaucratic Nightmare?
If not for the PPT, there is no telling how far "down the rabbit hole" America would be right now; as day after day, more and more charts confirm the "DOW JONES PROPAGANDA AVERAGE's" unnatural rise. Here we see U.S. macroeconomic data making an ominous "lower top"; just as it ALWAYS does after the annual "early-year fudging"...
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Source: Zero Hedge
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...yet amazingly, the Dow's forward P/E continues its inexorable, unprecedented, unsupported expansion into nosebleed territory...
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Source: Zero Hedge
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I know I sound like a broken record, but today may be one of the most blatant market manipulations I can recall...
Fed shorting gold to support dollar, former Assistant Treasury Secretary Roberts says
With Europe closed for a holiday and Asian stocks down sharply, Dow futures - of course - spent the entire morning slightly higher, while T-bonds were slightly lower. At the open, both stocks and bonds surged; via the same "magic" algorithms as usual. Then, at 10:00 AM EST, the eighth straight miserable economic report emerged...
Manufacturing ISM Tumbles, Biggest Miss in 13 Months
...nearly pushing the ISM index down to the contractionary 50 level...
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Prior
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Consensus
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Actual
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ISM Manufacturing Index
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54.2
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54.0
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51.3
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But no matter, as the Dow is down just 30 points as I write at 11:10 AM EST, while the Fed's portfolio of $3 TRILLION of Treasuries continues to rise (via its own PRINTING and BUYING)...
As for PMs, TPTB's desperation could not be more evident; as ALL the aforementioned factors point toward STRONGER gold and silver prices. Such factors are what has driven the PM bull market for the past 12 years; and in my view, are more powerful than EVER -strengthening each day; which is probably why the world's only UNMANIPULATED alternative currency is EXPLODING...
Bitcoin Hits $101 - Doubles since Cyprus
Last night, the Cartel utilized the exact same "SUNDAY NIGHT SENTIMENT" algorithm to cap an early rise as last weekend; this time, at the VERY KEY ROUND NUMBER of $1,600/oz that has become the new "line in the sand"...
We then saw gold capped at $1,600/oz during the 18th attack of the last 21 opens of the London "pre-market" session at EXACTLY 2:15 AM EST; followed by a third defense of $1,600/oz at 6:00 AM EST...
Gold was actually a buck or two higher ALL MORNING (to $1,598-$1,599/oz), when it was smacked at EXACTLY the 9:30 AM EST NYSE open. It then jumped to EXACTLY $1,600/oz when the horrific ISM data emerged; only to yet again be stopped by a prototypical "CARTEL HERALD" at - what do you know - EXACTLY 10:00 AM EST...
It has been fighting a WAR at $1,600 all morning; and as I write at 11:15 AM EST is at $1,598/oz...
However, today's most egregious "suppression story" is silver; which care of PAPER NAKED SHORTING; is down a farcical $0.45/oz - to the same oversold level that has preceded previous bottoms; let alone, as it trades below its cost of production, with TWO-YEAR, MASSIVE SUPPORT in the $27-$28/oz level...
I just bought some more "junk silver" this morning, and will be writing about the topic tomorrow...
As for hapless mining shares, which are nothing but HORRIBLE speculations; what more need I say?
As I said, this is just another opportunity to exchange fiat currency for REAL money; as one never knows when the END GAME will arrive - which it inevitably will...
Visualizing 193 Years of Currency Regimes & Crises
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