Nigel Farage & Jim Willie: Euro Is A House Of Cards Waiting To Topple And Cyprus Is The Flash Point That Will Result In Massive Shift Into Gold & Silver

‘Euro is a house of cards waiting to topple’- Nigel Farage

According to Nigel Farage, leader of the UK Independence Party, northern EU leaders realize they risk vast losses if they allow Cyprus, Greece or any other southern member to fail. To prevent this, they have resorted to extreme measures – even theft.
RT: Every bailout comes with strings attached. But can Cyprus afford the price the EU has set?
Nigel Farage: What is really happening here is we are having a reconcilable split between the North and the South of Europe. In the North of Europe – Germany, the Netherlands, and Finland – there are very strong political voices saying “We do not want to go on bailing out southern European countries.” And bear in mind that Cyprus is now the fifth country out of 17 that has needed to be bailed out. And that is why the Germans extracted the terms that they did. But I must say that even in my direst predictions in this parliament over the years about the way the EU bosses were behaving, never did I think that they would in a completely unprecedented manner resort to stealing money from people’s bank accounts.
RT: But is that because Europe can’t afford Cyprus to fail?
NF: Well, It can’t afford Cyprus to fail, it can’t afford Greece, Portugal, Spain or Ireland to fail. They know that once one country goes the whole deck of cards will come tumbling down. And countries like Germany will realize absolutely vast losses – possibly as much as one trillion euro.
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JIM WILLIE: CYPRUS IS THE FLASH POINT THAT WILL RESULT IN MASSIVE SHIFT INTO GOLD & SILVER

The Golden Jackass Jim Willie has finally given his long anticipated first public thoughts on Cyprus.
Willie states that Cyprus is the long awaited FLASH POINT the metals community has been anticipating, and it will in time invoke a great awakening as to the reality of today’s Western financial system by the public, and will result in a massive shift into physical gold and silver.
Willie states that Cyprus was Russia’s back door banking gateway into the Western financial system, and that the true numbers of Russian wealth hidden in the Cypriot banking system is not $20 billion as is being reported by the Western press, but $trillions!
The Golden Jackass states that mind-numbing hundreds of $billions have been fleeing Cyprus for Dubai, Hong Kong, and Singapore over the past 9 months, and that the depositor outflows will devolve into contagion and full-scale bank-runs throughout Italy, Spain, Portugal, Ireland, & Greece.
The tipping point is coming, and those who don’t remove their funds proactively will be slaughtered!
Jim Willie’s full MUST LISTEN interview on the implications of Cyprus is below:

Slovenia faces contagion from Cyprus as banking crisis deepens

Slovenia’s borrowing costs have rocketed over recent days as it grapples with a festering financial crisis, becoming the first victim of contagion from Cyprus.

“Banks are under severe distress,” said International Monetary Fund in its annual health check on the country. Non-performing loans of the Slovenia’s three largest banks reached 20.5pc last year, with a third of all corporate loans turning bad.

Yields on two-year debt in the Alpine state have tripled over the past week, jumping from 1.2pc to 4.26pc before falling back slightly on Thursday. Ten-year yields have reached a post-EMU high of 6.25pc.

Currency Wars, Capital Controls and Earthquake Kits

The latest financial progression of currency devaluation, asset confiscation, capital controls and ultimately political upheaval seems to have become a slippery slope that could easily decimate whatever investment funds you may currently have placed in paper assets.
Furthermore, the recent threat to levy bank deposits as an alternative to providing bailout money that was proposed as a solution to the Cyprus banking crisis has left many depositors increasingly wary of placing the bulk of their wealth on deposit with increasingly shaky financial institutions.
Another notable risk to depositors is the possibility of the monetary authorities reneging on their support for deposit insurance corporations, such as the insurance currently provided on bank account balances up to a certain limit by the privately-owned Federal Deposit Insurance Corporation or FDIC in the United States.

Keiser Report – Plunderball – New Euro Banking Game

PLUNDERBALL games in Europe & the ‘mega-caust’ of the financial markets in which those who worried about their gold being confiscated have now lost their bank deposits instead! Mitch Feierstein about the implications to all bank depositors of th…

Why European Monetary Policy Is Now Impotent

For the last year or so, Mario Draghi (the omnipotent head of the ECB) has discussed ‘market fragmentation’ as a major concern. The reason is clear – his easy money policies are entirely ineffectual in a monetary union when his actions do not ‘leak’ out to the real economy. Nowhere is this fragmentation more obvious than in the inexorable rise in peripheral lending rates (to small business) compared to the drop (over the last 18 months) in the core. Simply put, whether it is demand (balance sheet recessionary debt minimization) or supply (banks hoarding for safety), whatever the punch ladeled from the ECB’s bowl, it is not helping the most needy economies. Of course, that was never really the point anyway – as we have pointed out many times; the actions of the ECB are (just as with the Fed) to enable the banking system to live long enough to somehow emerge from the black hole of loan losses and portfolio destruction that they heaped upon themselves. This chart is yet another example of proof thatmonetary policy is entirely ineffectual in the new normal - and yet the central planners push for moar…


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