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What is happening in Cyprus is an absolute outrage, the very threat of a government confiscating wealth from individual citizens is a crime by anyone’s definition. But, and it is a big BUT, whenever you put the word government in front of “thou shalt not…” it seems to be okay with the sheeple.
Well this time, the theft isn’t taxes or inflation, it is fairly open and direct, so this has the people of Cyprus rushing to their ATM’s to pull cash out as they live through day 4 of a government imposed bank holiday that has the banks closed while the bankers and politicians figure out the best way to screw its citizens.
Unfortunately more tyranny is on the horizon for everyone living in the west, especially in the U.S.
Already we have seen suppressed interest rates which has hurt savers, investment capital, and those living on fixed income. The inflation from quantitative easing as well as government spending has also forced prices up on the population, meanwhile the banks and government employees have seen their incomes grow faster than the private sector.
By the way, I should make it clear that I don’t consider the big banks private anymore; after what the government did to save them and keep them profitable, there is no way I can honestly say that the large banks in the U.S. and the U.S. government are separate.
If the past 5 years haven’t been a wake up call to get into real things, then we hope this latest scare in Cyprus is because Cyprus is just a small island, the problems here in the U.S. are much more serious. The amount of money the EU wants from Cyprus is equal to just 2 and half days of borrowing here in the U.S.
We have a national debt approaching $17 trillion, debt liabilities of over $100 trillion, and a treasury bond that currently yields less than the price inflation rate.
Soon our lenders will fully accept that we have no way of paying anyone back and as inflation rises, they will realize we have no intentions to pay anyone back. America’s solution is clear to us, radical devaluation of our currency. They did it in the 1930’s and they plan to do it now on a grander scale.
My recommendation. Own real things, start with some physical precious metals; you can get free shipping at Miles Franklin just for mentioning us on orders over $1,500. Start focusing on safe shares of companies that are never going away, companies like Exxon Mobile, world dominators.
Then for those looking to profit, you have to look at the junior resource companies, companies that will soon be in very high demand as investors flee cash.I honestly expect the junior gold stocks to make the tech bubble look like a warm up parade.
In closing, here are some pictures of what is going on in Cyprus right now, don’t be a victim, this is what governments do in times of crisis. Remember the Japanese internment camps here in the U.S.? Gold confiscation in the 30’s, or banker bailouts through taxpayer dollars just 5 years ago.
A fiat currency crisis is coming and I expect tyranny, so be vigilant with your family and wealth.