My little piece of peace

If you're really paranoid, buy grain, gold and guns.

Except you, Michael, you're only allowed 2 out of the 3.

PDW

 

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Gold and guns will possibly make good investments if you can supply bullets and 99.99 pure gold - grain will deteriorate and become rotten - GROW Grains and other foods is the best option...

Oh for the empty headed simplistic delusional solutions to be as simple as the simpletons presenting such solutions as expressed by "Chick, chick, bang"... Can you imagine the "Russians" rolling over and playing dead and happily loose all their savings? - - - 100000Euro is not much of a nest-egg for a retiree looking forward to extending their meagre nest-egg in a low living cost country where the banksters have miss-appropriated the depositors funds?

"Cyprus needs a bailout. It needs €17bn. But the 'troika' (Europe's big bailout committee) is only willing to lend it €10bn, because they know Cyprus could never pay back the whole €17bn. Even €10bn will be a push, but we can at least pretend it's feasible." http://www.moneyweek.com/news-and-c...he-panic-in-cyprus-means-for-your-money-63200 - - There is STILL NO EXPLANATION of how and who lost Eu17bn in the first place? I suggest that the guilty parties will never be castigated, blamed or made responsible...

Please do not cry when your savings are confiscated to fund YOUR bank's recovery as has been announced in a recent proclamation http://www.gata.org/node/12381 "New Cyprus plan may wipe out large depositors" The precedent has been set and there is now no reason to restrain the fraudulent thieving banksters from raiding your account... GO SUCK EGGS.....


"Inflation: When You’re In the Government’s Sights" http://www.dailyreckoning.com.au/inflation-when-youre-in-the-governments-sights/2013/03/25/ Puts an Australian perspective and comparison quite effectively - are you concerned yet?

 

The Greek haircut affected Cypriot banks. The exact number I dont know, but it was substantial.

 

Basically because banks are not utilities they are businesses to which you lend your money. That is the reality and in that reality you must do your due diligence and be responsible for your decision to lend. That is also where the banks should be/are in terms of mindset. Unfortunately we have government distorting the playing field in all respects. In Australia we have fewer banks, less choice and less competition in terms of prudent practices, we also now have deposit insurance. The reality of this is that every Australian is on the hook for the bad decisions made by any one bank and the depositors that supported bank. Enter moral hazard, you now have a system that rewards undue risk taking in the pursuit of higher profits which eventually competition drives to subprime like levels. If we had much more competition and the very real threat of failure if bad decisions are made then we would see smaller failures and a far more conservative system in general which actually sponsors heightened awareness at the consumers level. Hell they may even do something prudent like spread risk! This would flow into general lending policy and in turn sponsor more sobriety in markets like real estate that rely on leverage to operate.

Clunky explanation but maybe you see what I am getting at, you cannot legislate security where it does not exist, doing so only creates a false feeling of security that in turn fosters greater risk taking which will ALWAYS eventually lead us to this point. We must eliminate moral hazard and every player must be making decisions fully aware of the fact that risk exists.

The current method/system simply socializes the risk thus transferring it to a whole bunch of people that never took that specific risk in the first place. This punishes the prudent and allows the imprudent (banking management) to stay in control of an entity that they are obviously not able to run! All the wrong outcomes if you want to reduce systemic risk!

Failure must be an option and it is typically the least damaging and fastest route back to health for the economy at large. Our problem now is that we have built a system of financial insurance (derivatives) and legislation that is aimed at removing all risk, effectively socializing it. This has in turn engendered greater risk taking system wide in the pursuit of performance and lead to the point where any given failure in the market can trigger other failures and in turn become a systemic risk. At some point this system effectively become a vigorous life insurance market on the Titanic, giving the Capitan a false sense of security and rewarding him for making the fastest trip possible through the most treacherous waters.... it was never going to end well.

Given that, failure is not an option here until it is unavoidable. We will go on socializing risk, printing money and jacking taxes until we are all screwed sufficiently that major change is inevitable in the face of a failing system. This will most probably take a lot more time than the average goldbug expects and be far more treacherous to navigate.

I would personally like to see an Austrian School resolution to the issues and the MUCH fastest resolution that would lead to, withstanding the near term pain.... BUT we will not do that, so stand prepared for government to "fix" things and be prepared for all the failures and unintended consequences that will lead to.

oh yeah, and keep some shiny insurance.

I promised myself I'd not go here... so I'm not going to argue it further, I am sure people will violently disagree with what I have to say, if indeed I have expressed it effectively?! so "C'est la vie" I know what I am doing, you lot are on your own!

babble, babble.... writing was never my strong suit.

 

The cause of boom and bust is the financial industry and its concept of " Growth" . Growth, no matter how small..2 percent 3 percent is always unsustainable. It is the big lie.
This big lie will continue to spawn boom and busts until policy makers wake up, , expose this lie to their citizens and regulate the financial industry for the common good.

 

That is true, a 3% growth rate would see a ten-fold increase in the size of an economy in a human lifetime, and that can't be sustained in perpetuity.

 

At 3 percent growth, over 2000 years, a Roman 10 dollar bill would now be worth ...

472,551,787,558,268,994,817,359,872.00 dollars

sounds good ! would make a great boatbuilding budget.

but it wont happen

All growth promises are an unsustainable lie.

 

Hi Moggy,
WELL SAID and effectively explained (I was talking 'morally and ethically' of the responsibility of the fraudulent debt incurred by the "traders" mentioned below by the MarketOracle), except to those lost "in de sands of de Nial"

remember "DON'T SHOOT THE MESSENGER" and the message can be supported by UK's MarketOracle email, issue #8 Vol. 7
. . . in part
"Different faces but the same old story is being replayed in a small part of the Euro-zone, Cyprus, and that story is one of the Cypriot banking crime syndicate gambling with depositor funds on the debt markets, this time it's Greek bonds, yes, these master-eds of the universe used depositor funds to pile into soon to go bankrupt Greece because of the high yields they offered so that the bankster's could bank bonuses on the basis of fictitious profits as illustrated by the fact that they have dumped an infinitely pile of losses (Greek Bond's ) onto Cypriot tax payers, far beyond anything that any other Euro-zone member has had to face to date.
The Damage Has Been Down Expect a Bank Run
The emerging details early Monday morning in the face of a literally eye popping deadline are that of at least 40% of deposits over Euro 100k will be stolen in the two largest cypriot banks, one of them Laiki (2nd largest) will definitely be wound down, many mainstream commentators have jumped onto the fact that the depositors will receive shares in the banks which might be fine if the shares were given AFTER the banks were restructured i.e. bad assets being written down, but they are not instead the depositors are likely to be handed what amounts to worthless toilet paper in exchange for their hard cash."

I would not want to be in the shoes of those Cypriot based traders when the Russian Mafia is informed by the Oligarchs who fell victim to the trading plays...

Only a mindless troll would argue and attempt to denigrate a messenger in this case.

More evidence of the fraudulent behaviour of the banksters, Governments and supporting bureaucrats - :!: S-H-A-M-E :!:
http://www.roadtoroota.com/public/1136.cfm?awt_l=J859B&awt_m=3YvyBodDaJAZ85B "Outrageous Silver Eagle Markups by US Mint - - Bix Weir"

Some more thought provoking links
http://www.gata.org/node/12388 "'Too big to fail' suddenly becomes 'too crooked to save'"
http://www.gata.org/node/12390 "BRICS nations plan new bank to bypass World Bank, IMF"
http://www.gata.org/node/12391 "Ted Butler: The good, bad, and ugly"

 

I think it is timely to withdraw a goodly sum of cash and buy fuel, check the bilge pumps, clean the bottom, add lots of stores, and set your boat to make an impromptu exit . . . One never can tell what nature of faeces will hit the fans and when and how? I am scheduling May / June 2013 for my planned departure and can take 2 to 3 contributing passengers...

 

Anyone see tv program called " bank of Dave"?
Small and local only banks.
What really got the attention, was that the majority of Germany banks this way.
Seems to work for their economy?

 

There are quite a few "small banks" here in Australia but they all need to access the services of the 'big four Australian banks' to access working funds - so consequently all are ruthlessly 'exposed' even the "LETS" (Local Energy Transfer System), financial system uses one of the 'big four' in which to do their banking...

 

Bank of Dave had people queuing around the block and a 2 month waiting list - to put money in!!! Authorities wanted to shut him down by not allowing deposits.
Of course the authority was heavily influenced by the big banks.
Didn't work.
Bank is local to an area. Only lends in that area.
No need for big marketing/advertising. Overheads are low.
Boosted local businesses that couldn't get loans from the big banks.
Any profits after costs and salaries went to charity. Local of course.
All deposits insured and covered by held money.

 

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This doom & Gloom is getting tedious - almost like watching paint dry or grass grow in a desert... Gerald Celente is spruiking again....... http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/3/23_Gerald_Celente.html - - - The truth and humour in the same package - - Enjoy...

Jeees, the young hookers in USA are DUMB :?: sending me kisses and half naked nipple deprived pictures asking if I want casual sex as I only live 4miles away and suggesting we 'get together for some casual bumping and grinding :?: - - Sometimes I feel that they are black (possibly male), and resident in Nigeria, but where do they get the images of blond, white teenagers with overdeveloped mammary glands and using a mirror to get a quick photo in their dorm room at college? Are the undergrads so stupid as to post the images on facebook? - - - for example:- chasity_boer@chasity-boer.us or lucy_martelli@lucy-martelli.us website link as http://www.lucy-martelli.us/ as today's requests

 

Hmmm

China Brazil sign currency deal ?

http://in.reuters.com/article/2013/03/26/brics-summit-china-brazil-currencies-idINDEE92P08O20130326


No more dollar ?

 

Here is one that made me sit up and smile . . . "European regulators to charge banks over derivatives" http://www.gata.org/node/12392 - - And about bloody time too - USA would never do that as they seem to protect corporate fraud as their banksters are doing the bidding of the Fed & Treasury in manipulating all markets and keeping the "greenback" strong instead of its true value as used-toilet-paper...

http://www.bloomberg.com/news/2013-...ty-center-to-coordinate-computer-defense.html "U.K. Sets Up Cybersecurity Center to Coordinate Computer Defense" VERRRRRY INTERESTING...

We all should know that the price of "precious metals" is heavily manipulated via the "paper deals" on COMEX which just shows how stupid they are in USA by pretending that paper equals bullion - LBMA is just as bad as they too operate what seems like fraudulently rigged pricing. For convenience and multi currency information on this manipulated market I watch http://www.bullionvault.com/gold-price-chart.do - - as it is "live" and supports several major currencies...


I had a horrible dream last night where multi nukes were detonated in space above the earth creating havoc as all electrical and electronic devices failed - Think of the impact - back to the stone age almost instantly - I could not sleep after that - I hope that was NOT a premonition.....