When you look at the math, especially the supply/demand and inventory/delivery “math” there is only one question that remains. The question is not whether the PM’s are grossly undervalued. It is not whether supply can meet demand. It is also not whether known inventories can continue deliveries at the pace of the last couple of years. The only question which remains is “when”. “When” does the current unsustainable and lopsided (soon to be proven fraudulent which yes, includes “intent”) business model of the precious metals market blow up in a default?
When does it end in the same fashion that every banking panic in human history has seen?
[Read more...]
The Million Dollar Question: When Does the COMEX Default?
Jim Willie: Bank Runs & Bullion Bank Runs to Climax Soon in the US!
Image: Pining, TFMetalsReport
By Jim Willie, GoldenJackass.com
The Western nations really truly sincerely need a wake-up call on reality, and it is coming as a paradigm shift with shock waves.
When the coming dust clears, the evidence is plain that the change to be seen will be dead banks in dissolution with private bank accounts vacated. In other words, razed leveled banks with no functioning operating offices, and bank accounts showing zero balances. The consequence is ugly and powerful, lost client trust in the banking institutions.
Faith is a key ingredient to stable systems. The US account holders will be treated with stock shares in conversion for the dead banks, whose value will converge quickly to zero. Same effect, lost accounts. Expect soon the result to be a climax with bank runs.The bank runs will coincide with bullion bank runs, the fast removal of gold held in inventory vaults at the bullion banks.
[Read more...]
What’s the Price of Silver if There’s None to be Had?
We already know that an ounce of Silver is not worth the $23 that COMEX says it’s worth. No, buyers-investors-scared fiat rabbits are paying more…30% more for the real, hold in your hand “stuff” that COMEX is so badly underpricing. Let me go back to the beginning, what is an ounce of Gold or Silver worth if and now when an ounce is not available?
The old saying goes, “there’s no rush like a Gold rush“. This saying always speaks to “greed”. The coming Gold rush with its roots in “fear” will be unlike anything before it because in reality it will be an all-out, all-encompassing global bank run!
[Read more...]
Eric Sprott: Cyprus to Trigger Global Bank Runs, Metals Shorts in for a Rude Awakening!
In this tremendous interview with our friend Eric Sprott, Patrick MontesDeOca chats with the CEO of Sprott Asset management with $10 billion under management.
In this interview Eric gives us his insight and wisdom as it relates to Cyprus as the “Black Swan”,and how it could trigger major bank runs globally. Metals shorts are in for a rude awakening!
Sprott discusses the ongoing collapse and how the COMEX is easily manipulated and not reflective of actual supply and demand.
[Read more...]
Gold-Run: “There is Not One Single Ounce of Gold Available for Sale in Bangkok!”
SD reader Anders has submitted a boots-on-the ground report from Bangkok Thailand, which is normally flooded with physical gold.
In the wake of this week’s massive gold take-down by the cartel, Anders reports that:
EVERY Gold-shop in Bangkok is out of Bullion…there is not 1 single ounce of gold bullion available for purchase in the entire city of Bangkok! The Gold is going down in price like everyone is selling.. while there is no Phyzz to buy at all in all Thailand! [Read more...]
Cyprus Deposit Confiscation Bail-in Visualized
Our friends at Demonocracy have released an excellent infographic visualizing the recent Cypriot wealth confiscation by the ECB and the IMF, the size of the depositor haircuts, and the bank run in progress by Cypriots (and preceded by wealthy Russian and UK depositors who were able to withdraw billions while the bank holiday persisted).
The Cyprus Deposit Confiscation Bail-In Visualized: [Read more...]
CYPRUS: A Sign of Bad Things To Come – Bix Weir
Bix Weir joins the SGTReport to talk about the coming collapse of the Western banking system. Bix says the overt criminality we’ve seen in Cyprus is just a sign of the bad things that will be unfolding EVERYWHERE soon. We also discuss the New World Order and the Elite’s plan for a one world government – a CRIMINAL world government led by the same criminal Banksters who are destroying the financial system and who are hell bent on ending the sovereignty of every nation on earth. We also talk about the awakening of the patriots who stand opposed to their evil plan. [Read more...]
CYBER ATTACK ALERT-YOU ARE NOT FACING A FINANCIAL HAIRCUT BUT FINANCIAL DECAPITATION!
Steve Quayle’s banking management source has released an alert stating that a false-flag financial cyber attack is close at hand in which the Western Central banks will blame the coming financial collapse.
For some time I have emphatically stated that there will be a bank hack or cyber attack as the global economy is pushed to the brink of collapse. From top level sources I can confirm to you what you are seeing is an emerging pattern of various beta-tests using Stuxnet like algorithms to affect the banking networks the world over. I can tell you though that the primary target is the US.
How can so many bank and ATM networks like NYCE, PULSE, PLUS, INTERAC, CIRRUS, BACNET, NOVUS all be affected? This is truly something of a very sophisticated nature. Something that is very large in scope and very ominous in action. Folks it is without a shadow of a doubt that these are all beta-tests. I have said it before this will be a financial false flag. The frequency of banking network failures has gotten to be very acute to the point that I am convinced that we are edging closer to the one major event that will set everything in motion.
The take down of the economy is close at hand and the major cyber attack will be on it’s way. [Read more...]
Spanish Mattress Firm to Sell Model With Built-In Safe!
While we are awaiting confirmation as to whether they intend to bring the product to market or have just launched a clever marketing scheme based on the European banking crisis in the aftermath of the Cyprus bail-in, Spanish mattress company Mi Colchón has released a Hollywood like theatrical advertisement promoting the “safest vault in the world”: the world’s first mattress safe.
CRISIS: Spanish banks collapse
Spaniards fear for their money, and no longer sleep well.
DES’S experts on sleep and rest presents the solution….
THE FIRST MATTRESS WITH A SAFE!!
Sleep tight and with your money safe and away from banks.
The must see 120 second clip is below: [Read more...]
Cyprus Bail-in Depositor Harcuts: the Full Infographic
Saxo Capital Markets has released an infographic detailing the Cyprus depositor bail-in from start to finish.
The infographic also looks at the debts of Spain, Italy, Greece, Ireland, and Portugal in comparison, and makes the case that the Cyprus template (per DieselBOOM) is a major game changer for the Western banking system.
Full Cyprus bail-in infographic is below: [Read more...]
Eurozone Launches Currency Roach Motel: Your Money Checks In, But it Doesn’t Check Out!
By AGXIIK:
Face it folks, the die is cast. Bankers have shown their true colors. They are no different that robber barons of days past. They will steal your money through interest, fees, penalties, foreclosures and if those fail, they will steal your assets because you are a convenient and conveniently foolish cash sheep waiting to be fleeced.
The modern financial system has become a Currency Roach Motel. Your money checks in but it doesn’t check out.
Canada Includes Depositor Haircut 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 that will result in depositor haircut bail-ins jumping to this side of the pond during the next bank crisis!
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! [Read more...]
Cyprus Finance Minister: Uninsured Laiki Depositors Could Face 80% + Haircuts
Cyprus’ Finance Minster has now officially confirmed that Laiki depositors with over 100,000 euros in Cypriot banks face at least 80% haircuts, and stated that realistically, very little will be returned.
Now that news has circulated that Russian oligarchs were able to withdrawn billions over the past week when Cypriot banks were closed, we suspect Cypriots are not likely to take this latest news of 80% + haircuts for Laiki customers well. [Read more...]
David Morgan: The Fiat Iceberg Emerges in Cyprus
In this interview with Ellis Martin, David Morgan reviews a prediction he made a month ago to subscribers of The Morgan Report. “Not to belabor Banking 101, but our quote from Eric Sprott is correct. From a legal and financial accounting standpoint, the term “deposit” is used by the banking industry in financial statements to describe the liability owed by the bank to its depositor, and not the funds that the bank holds as a result of the deposit, which are shown as an asset of the bank. (It is now the bank’s money, not yours.)”
The iceberg commeth in Europe and Cypress is just the tip of this Titanic ride. [Read more...]
A Letter from Cyprus: Economy Shutting Down, Going CASH ONLY!
An SD reader has submitted a boots on the ground report on the escalating crisis in Cyprus, as the entire Cypriot economy is now on the verge of collapse:
Nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed.
If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise.
If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash. [Read more...]
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