muses of the moment

March 19, 2013

Cyprus update

Well, that went well….

Nigel Farage gives some not-so-subtle advice….get your money out of Europe!

Now, I am sure British banks are more than willing to take frightened European depositors’ money for safe keeping, but the Cyprus main attraction this week shows us two things: a small country can do major damage to the global banking system and nothing is off the table to preserve the failing banking and debt system. That means any country, any bank, anywhere….

Click here.

Now that apparently the IMF has back-tracked from the “one-time-tax-on” deposits. Look for a reprieve before they try something else the next crisis. Such as, they will not announce it beforehand?

Can’t wait for the 2014 German election!

You will have to take steps to preserve the purchasing power of your own savings.

Next bank run. New Zealand. Click here. Question: why would any politician look at the global political reaction to Cyprus this week and say, “hey, let’s do something like that”?

In other news, gold looks good.

1 Comment »

  1. Armstrong said that “smart money” is going to flee Europe and Japan (most likely in 2013) and find its way to the US Stock Market which will continue to allow the DOW to go up through 2015.75. I’m “all in” in US Stocks in my 401K. Up $5,000 in little over a month. Truth be told, the end game with all of our stocks and pensions is that they will all go “poof” in the night once TSHTF.

    Comment by MikePhila — March 20, 2013 @ 11:28 am

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