Jim Sinclair: Capital Controls and Bail-ins Will Grow and Reach Your Home!

In the wake of Monday’s news that Cyprus depositors have official been scalped by the ECB and IMF, Jim Sinclair has sent an email alert to subscribers warning that If you do not exit the system now, you will not be able to exit the system, and that Capital controls and bail-ins will grow and reach your home.
Sinclair warns that DIESELBOOM’S depositor haircut precedent for bank failures is coming to the entire Western banking system, a fact that we have repeatedly driven home here at SD upon uncovering bail-in legislation in Italy, Canada, Switzerland, the UK, and the US.
Sinclair’s full alert on the Cyprus bail-in and on exiting the Western banking system NOW is below: [Read more...]

It’s head for “the mattresses” time for savers worldwide

Cyprus bailinThroughout the colorful history of organized crime in the United States, periodic eruptions of inter-gang Mafia violence have dotted the criminal landscape. When turf wars broke out between competing crime families in major cities such as New York and Chicago, the combatants would conduct their warfare from unsavory redoubts such as abandoned warehouses or low-rent hotels and apartments. In such locations, the soldiers would spend their off hours sleeping on rented mattresses until the internecine conflicts had run their course; hence the expression “going to the mattresses.”

Well, there is another turf war going on, a worldwide one, one that threatens the entire economic and political landscape of the planet. It is between all the hard working savers on the planet and the ever greedy criminal bankers and their cohorts in government. The real big canary singing out an extreme danger warning to all traditional savers who wish to entrust their wealth to banks and other paper vehicles – stocks, bonds, etc., is the incredible emergency banking shutdown in the tiny island nation of Cyprus. [Read more...]

No Significant Capital Flows Into Gold From So Called ‘PIIGS’… Yet

As one astute financial journalist said to me “ ‘cash in the bank’ doesn’t have quite the same ring to it anymore.”
In most European countries, except for Germany, Austria and Switzerland, cash has been ‘king’ for some time, but that has now changed. This is especially the case as the expropriation was not the doings of the Cypriot government rather it was that of the Troika – the EU, the ECB and the IMF.
Gold is financial insurance which protects against inflation and expropriation of financial assets – such as pensions and now deposits. [Read more...]

ECB Enacts Capital Controls, Cypriot Savings Accounts Will Remain Frozen When (if) Banks Reopen!

Cyprus bank freezeGermany’s Handelsblatt reports early Friday that the ECB has informed Cypriot authorities that due to a guaranteed epic bank run of their own making that will undoubtedly begin the moment Cyprus’ banks re-open, the ECB intends to enact capital controls when (if) the Cypriot banking system re-opens next week, and that the ECB intends to enforce the capital controls unilaterally!

Handelsblatt claims Cypriot Central Bank sources have stated that the ECB intends to freeze all Cypriot savings accounts indefinitely, greatly reduce the maximum amounts of ATM withdrawals, and will require Central Bank approval for all bank transfers! [Read more...]

Leading Gold Storage Firm ViaMat Dumps All US Clients

vault*Breaking

ViaMat, one of the world’s leading precious metals storage firms (used by BullionVault & GoldMoney as primary storage provider) has just notified  US customers that effective April 30th 2013, it will discontinue private storage of precious metals for all clients with a US tax liability.   Clients have until April 30th to notify Via Mat International where they would like their physical bullion dispatched to.

All signs point to an imminent escalation in capital controls in the US, just as we predicted last year as the controls were issued by Southern Euro-zone members such as Italy. 
[Read more...]