Thursday, March 28, 2013

The Euro is DEAD – Long Live the Cyprus POUND

Martin Armstrong, (ArmstrongEconomics)

I have gotten off the phone with contacts in Cyprus. Everything is getting very scary. Politicians in Brussels and Germany are clueless. They assume that since they have the power to enact a law, the people will just follow it without repercussions. It does not work like that and they have crossed the line into the realm of all bets are off.
The real number is 50% of whatever you had at the Bank of Cyprus will be gone. Russians are threatening bank managers. Riots are brewing. We are looking at the breakdown of a nation in modern times thanks to European politicians who have their head at least in the sand if not up their ass.
They have NO understanding of reality. Their lives are not at stake. Do you really want to be a branch manager of a local bank in Cyprus tomorrow or even a clerk? They are suppose to open but there will be no cashing of checks and the only thing they will do is allow you to withdraw €300. So the banks will not really be open.
Cyprus pound
Cyprus must make a choice. Follow the nonsense from the ECB, Brussels and Germany, or abandon the Euro, stay within the EU like Britain, create a new currency, and then create a public utility for the gas reserves whereby you can swap out into shares. Unless Cyprus abandons the Euro, it will enter a dark age for its financial sector will never rise again and the economic decline will be massive with job loss at record levels. As unrest rises, there goes any hope of tourism. This will be a spiral that Cyprus cannot afford. It is decision time. The Euro is DEAD! Long live the Cyprus POUND!

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Bollinger Band Width Hits 12 month Low for Netflix: NFLX

The noose is tightening as indecision reigns supreme for Netflix. After more than doubling, the stock moved into a tight range the last two months. Notice that BandWidth is below 7% as the Bollinger Bands narrow. The range break will deliver the next signal. An upside breakout at 195 would be bullish, while a downside break at 175 bearish.

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McAlvany Weekly Commentary

David Walker: No Grand Bargain Would be a Crime

About This Week’s Show:
-2013: The critical year
-Cancel Vacation: No Deal, No Break!
-A four letter word in Washington: “MATH”
- Order Comeback America: Click Here
-  and 
About the Guest: David Walker is the Founder and CEO of the Comeback America Initiative (CAI). In this capacity he leads CAI’s efforts to promote fiscal responsibility and sustainability. Prior to assuming his current position, he served as the first President and CEO of the Peter G. Peterson Foundation. Previously, Dave served as the seventh Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO) for almost ten years (1998-2008).

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How To Get Rich Cheating

How To Get Rich Cheating by totalinvestor

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Three simple steps to get out of debt once and for all

From Financial Mentor:

Are you sick and tired of credit card bills?

Are you ready to discover how to get out of debt once and for all?

If you want a permanent debt solution then I have shocking news for you: Debt is not a financial problem. Hard to believe, but true.

Debt is actually a personal problem masquerading in financial clothing to deceive you. That is why so many people have persistent problems with debt. They look outward for financial solutions when the true solution is found by looking inward.

In this article I will clearly define the source of all your debt problems and provide a simple three-step solution so you can get out of debt once and for all...

Defining your debt problem correctly is critical to solving it.

That is where most debtors run into trouble. They mistakenly define debt as a financial problem thus developing financial solutions. That is why their debt returns shortly after paying it off. They fail to identify the root cause of debt opening the door to repeating the vicious cycle... Read full article...

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The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank Accounts

The Global Elite Are Very Clearly Telling Us That They Plan To Raid All Of Our Bank Accounts / By Michael Snyder 

Don’t be surprised when the global elite confiscate money from your bank account one day.  They are already very clearly telling you that they are going to do it.  Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts.  What that means is that when the chips are down, they are going to come after YOUR money.  So why should anyone put a large amount of money in the bank at this point?  Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails.  And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk?  What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system.  In order for any financial system to work, people must have faith in the safety and security of that financial system.  People put their money in the bank because they think that it will be safe there.  If you take away that feeling of safety, you jeopardize the entire system.

So exactly how did the big banks in Cyprus get into so much trouble?  Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing.  They have been gambling with our money.  In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing.

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MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming

Marc Faber, who authors the Gloom Boom & Doom newsletter, is usually pretty bearish on stocks and bullish on gold.

Lately, though, gold doesn't seem like it can catch a bid.

"Despite the continued reverberations regarding the Cyprus bailout and its involvement of bank deposits, gold struggled to maintain the positive momentum created in the first two weeks of March and instead now looks very likely to move lower, towards $1580/oz," wrote Deutsche Bank commodities analyst Xiao Fu in a note this morning.

So, what does Faber have to say about it?  (more)

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