CANADA Sees An Potential Systemic Crisis In 2013; JIM GRANT: Cyprus Fired A Warning Shot Across The Globe; MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming

CANADA INCLUDES BAIL-IN PROVISION FOR SYSTEMICALLY IMPORTANT BANKS IN 2013 BUDGET!

*BREAKING SD ALERT
Just as DieselBOOM accidentally admitted Monday, it appears that the Cypriot bail-in is anything but a one-off event, and is in fact the new collapse template for the entire Western banking system, and not just the ECB/ Eurozone!
SD has been alerted to an alarming provision that has been buried deep inside the official 2013 Canadian Budget.
Titled ECONOMIC ACTION PLAN 2013 and tabled in the House of Commons by Minster of Finance James Flaherty on March 21st, the official 2013 Canadian budget contains an explicit provision that Canada will pursue the bail-in model for systemically important banks for future bank failures!

JIM GRANT: CYPRUS FIRED A WARNING SHOT ACROSS THE GLOBE- YOUR MONEY IS NOT REALLY YOURS IF ITS NEEDED BY THE STATE!

 

“Your money isn’t really yours if it’s needed by the State.”
Jim Grant was back on CNBC comparing the ticking shot-clock in a March Madness game to the artificially low interest rates via manipulation by the Federal Reserve, allowing the Fed to stall the game without any real recovery.
Grant also discusses his belief that the problems in Cyprus cannot be contained, and stresses the point that Your money in the Western banking system is not really yours if it is needed by the state!
Grant goes on to state that This is the greatest and most perilous experiment in the history of paper money! and This will end in immense destruction of wealth!

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

Here’s his explanation:
When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker. I just mentioned that it doesn’t flow evenly into the system.

Now from time to time it will lift the NASDAQ like between 1997 and March 2000. Then it lifted home prices in the U.S. until 2007. Then it lifted the commodity prices in 2008 until July 2008 when the global economy was already in recession. More recently it has lifted selected emerging economies, stock markets in Indonesia, Philippines, Thailand, up four times from 2009 lows and now the U.S.
So we are creating bubbles and bubbles and bubbles. This bubble will come to an end. My concern is that we are going to have a systemic crisis where it is going to be very difficult to hide. Even in gold, it will be difficult to hide.
Faber is, of course, still bearish on U.S. stocks. He told Bloomberg that he sees “considerable downside risk” in the market.

Spanish deficit, retail figures deepen economic gloom 
Moody’s: Euro zone overrates ability to curb contagion
Global pool of triple A status shrinks 60%

Cyprus Banks and The End Game is a Huge Crisis-Peter Schiff.

 

Peter Schiff: Printing Money Will Doom the U.S.

 

CNBC: Remember Euro Breakup Fears? They Are Back

After months of calm in global markets, concerns about the future of the euro zone are back with a vengeance as fears grow that the turmoil in Cyprus could spread to other parts of the region and ultimately undo the single-currency block.
Those jitters saw investors dump government bonds in peripheral euro zone countries on Wednesday and push the euro to a four-month low of $1.2750. The currency was trading not too far from those levels in early Asia trade on Thursday.