Archive for March 28th, 2016
HARRY DENT: Civil unrest is coming to America:
The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless:
Ellen Brown: “The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up.
“. . . European banks have already admitted to $1 trillion of non-performing loans: they are heavily exposed to emerging markets and are almost certainly rolling over further bad debts that have never been disclosed.
“The European banking system may have to be recapitalized on a scale yet unimagined, and new “bail-in” rules mean that any deposit holder above the guarantee of €100,000 will have to help pay for it. [Emphasis added.]
“It seems the War on Cash is being waged, not to stimulate the economy, but to save the lucrative private banking scheme at all costs. Quelling the riots likely to result from the mass confiscation of deposits could also underly the heightened push for a global “security state” and for those “anti-corruption” measures designed to determine where the money is and who owns it.
“Postscript: Bail-ins under the new 2016 European Recovery and Resolution Directive began officially today, April 10, in Austria. Ominously, it was in Austria that a major bank bankruptcy triggered the Great Depression in 1931.”
Coming Financial Crash to Result in 25-YEAR DEPRESSION: