CONFISCATION: Panicked Europeans Rush ATMs as Leaders Move To Seize Funds Directly From Bank Account Holders
March 16th, 2013
Over the last few years political and financial leaders in Europe and the United States have implemented policies, regulations and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery.
What happened in Europe today is yet further proof that nothing they’ve done has fixed the underlying fundamental issues surrounding the events that led to the crash of 2008.
For those who don’t believe the government is prepared to take extreme measures that may include the seizing of retirement accounts, cash savings or even gold, look no further than Cyprus, the latest recipient of bank bailouts.
As of right now, citizens of Cyprus are scrambling to withdraw funds from their bank accounts after the EU, with agreement from the Cypriot government, announced they will decimate funds held in personal bank accounts to the tune of up to 10% of existing deposits.
You read that right.
The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every citizen in the country.
Restrictions have been imposed to stop people emptying their accounts or moving their money out the country after the Cypriot government announced that up to ten per cent of deposits will be seized and used to bailout the island’s crisis-hit banking system.
The deal with other eurozone finance ministers is the first time that ordinary citizens’ deposits have been directly raided in this way.
One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’
Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent.
The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.
‘Why would you risk putting your money in Greek, Spanish or Portuguese banks after this?’
British expats were stunned by the news, with many left high and dry by the restrictions on accounts.
Cash machines had been working, but many ran out of notes because of the panic withdrawals.
But financial experts said the raid – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.
If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks.
Source: Daily Mail
They’re calling it a “tax.”
As Market Ticker’s Karl Denninger notes, “Like hell that’s a tax. That’s direct confiscation of the funds of people who did nothing wrong!”
It should now be obvious. There is no recovery. There never was.
No matter where you live, your government is likely preparing measures to deal with the coming financial and economic collapse. This means they are going to be coming for anything of value that they can get their hands on.
If you have the majority of your net worth allocated in bank accounts, money market funds, retirement plans, stock markets or the host of other ‘safe’ assets recommended by your financial adviser, then you are playing Russian roulette.
And in this version there’s a bullet in every chamber.
When they come, they will take everything they can.
Statistics: Posted by yoda — Sun Mar 17, 2013 11:21 am
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Denial Is Not Just A River In Egypt: 10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy
They didn’t see it coming last time either. Back in 2007, President Bush, Federal Reserve Chairman Ben Bernanke and just about every prominent voice in the financial world were all predicting that we would experience tremendous economic prosperity well into the future. In fact, as late as January 2008 Bernanke boldly declared that “the Federal Reserve is not currently forecasting a recession.” At the time, only the “doom and gloomers” were warning that everything was about to fall apart. And of course we all know what happened. But just a few short years later, history seems to be repeating itself. Barack Obama, Federal Reserve Chairman Ben Bernanke and almost every prominent voice in the financial world are all promising that the U.S. “economic recovery” is going to continue even though Europe is coming apart like a 20 dollar suit. But the economic fundamentals tell a different story. Our national debt is more than $6,000,000,000,000 larger than it was back in 2008, the number of Americans on food stamps just hit another brand new all-time record, and the bankers up on Wall Street are selling gigantic mountains of the exact same kind of toxic derivatives that caused so much trouble the last time around. But all of our “leaders” swear that everything is going to be okay. You can believe them if you want, but denial is not just a river in Egypt, and another crash is inevitably coming.
Sadly, many Americans are not even going to see the crash coming because they still have faith in the “experts”. They haven’t figured out that the “experts” really do not know what they are doing.
The blind are leading the blind, and in the end the results are going to be absolutely tragic.
The following are 10 hilarious examples of how clueless our leaders are about the economy…
#1 When I first came across the following chart the other day, it made me chuckle. It is a chart that supposedly tells us the “probability” of a recession, and it was taken from the website of the Federal Reserve Bank of St. Louis. According to the chart, right now there is a 0.16% chance of a recession…
#2 Federal Reserve Chairman Ben Bernanke has also been proclaiming his belief that the U.S. economy will continue to grow. The following is an excerpt from his recent remarks to Congress…
The pause in real GDP growth last quarter does not appear to reflect a stalling-out of the recovery. Rather, economic activity was temporarily restrained by weather-related disruptions and by transitory declines in a few volatile categories of spending, even as demand by U.S. households and businesses continued to expand. Available information suggests that economic growth has picked up again this year.
And Bernanke also insists that the labor market is “improving”…
Consistent with the moderate pace of economic growth, conditions in the labor market have been improving gradually.
Of course the labor market is not actually improving. I showed this using the Fed’s own numbers the other day.
And you can put stock in Bernanke’s forecasting ability if you like, but considering his track record of failure in the past, that might not be too wise. Just check out what he was saying before the last financial crisis: “30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry“.
#3 Although Bernanke has such a nightmarish track record of failure, Warren Buffett still has faith in him. In fact, Buffett loves all of the money printing that Bernanke has been doing…
The U.S. economy might be “dead in the water” without the stimulus provided by the Federal Reserve under Chairman Ben Bernanke, according to Warren Buffett, CEO of Berkshire Hathaway.
“I think very cheap money makes things happen, it makes asset values higher. When asset values are higher, people do have a greater propensity to spend,” Buffett told CNBC.
“I think Bernanke has sort of carried the load himself during this period.”
If Buffett thinks the wild money printing that the Fed has been doing is so wonderful, then he probably would have absolutely loved living in the Weimar Republic.
#4 Barack Obama continues to insist that we do not have a debt crisis, but that we will not be able to balance the budget any time in the foreseeable future either.
Even though the national debt has grown by more than 6 trillion dollars under his leadership and our debt to GDP ratio is now well over 100%, Obama does not believe that it is a significant problem…
“We don’t have an immediate crisis in terms of debt”
“We’re not gonna balance the budget in 10 years”
Sadly, the truth is that the U.S. will never have a balanced budget ever again under our current system, but most of our politicians are not willing to go that far and admit that sad fact to the American people just yet.
#5 But of course it would certainly help if the U.S. government would stop wasting so much money. For example, did you know that the federal government is helping dead people get free cell phones? The following is from a recent article in the New York Post…
Dead people don’t need cell phones.
That’s the message Rep. Tim Griffin of Arkansas wants to send Congress, after he says a controversial government-backed program that helps provide phones to low-income Americans ended up sending mobiles to the dead relatives of his constituents. Griffin has introduced a bill that targets the phone hand-out program, which has ballooned into a fiscal headache for the government.
And of course a lot of living people are abusing the free cell phone program as well. Rep. Griffin says that he has heard of some people getting as many as 10 free cell phones from the government…
“I’ve also gotten calls from people who say their employees were bragging about having 10 phones.”
#6 Meanwhile, the most prominent economic journalist in the United States, Paul Krugman of the New York Times, continues to insist that it is a good thing for the government to be running up so much debt…
First of all… that trillion-dollar deficit is overwhelmingly the result of a depressed economy. And when the economy’s depressed it’s good to run a deficit. You don’t want the government to try and balance its budget right now.
Krugman is also operating under the delusion that the federal government “can’t run out of cash”, that it can just print money whenever it wants and that printing giant piles of money would not hurt anything.
The United States is a country that has its own currency–can’t run out of cash because we print the money. If you even try to think what would happen–suppose that investors get down on the United States. Even so, that would weaken the dollar, not send interest rates soaring, and that would be good. That would help our exports
It is frightening that the top economic journalist in America has such little understanding of how our system actually works. I would encourage Krugman to read a couple of my previous articles so that he won’t be so ignorant in the future…
#7 Many Americans have wondered why the federal government never seems to go after the big Wall Street banks. Well, now we know why. The other day, the Attorney General of the United States admitted that the federal government is very hesitant to prosecute anyone from the big banks because of what it might do to the global economy…
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy”
So I guess we now live in a world where there is a different set of rules for the big banks, eh?
Most of us already knew that this was the case, but it is quite chilling to hear the Attorney General of the United States publicly admit this.
#8 Many of the big Wall Street banks are absolutely giddy that the Dow keeps setting new all-time highs, and many of them are projecting wonderful things ahead for the U.S. economy. For example, here is one forecast from Morgan Stanley’s Vincent Reinhart …
“In the Morgan Stanley forecast for the US, the trajectory of economic activity marks an inflection point midway through 2013. The severe financial crisis of 2008-09 necessitated significant downward adjustments by the private sector to the levels of aggregate demand and efficient supply. As the event recedes further into history, however, the drag on growth from these ongoing level adjustments plays out.
In our forecast, the expansion of real GDP steps up to around 2-3/4 percent in the second half of this year and beyond.”
#9 Vice-President Joe Biden is pushing economic optimism to ridiculous levels. Apparently he believes that most Americans are “no longer worried” that a major economic crisis is coming…
But all kidding aside, I think the American people have moved — Democrats, Republicans, independents. They know that the possibilities for this country are immense. They’re no longer traumatized by what was a traumatizing event, the great collapse in 2008. They’re no longer worried, I think, about our economy being overwhelmed either by Europe writ large, the EU, or China somehow swallowing up every bit of innovation that exists in the world. They’re no longer, I think, worried about our economy being overwhelmed beyond our shores.
And I don’t think they’re any more — there’s no — there’s very little doubt in any circles out there about America’s ability to be in position to lead the world in the 21st century, not only in terms of our foreign policy, our incredible defense establishment, but economically.
#10 Right now, many in the financial world are projecting that this will be a year to remember for the stock market. During a recent interview with Fox Business, Wharton School of Business Finance Professor Jeremy Siegel declared that the Dow will cross the 16,000 mark by the end of this year…
“I think by the end of this year, we’ll be in the 16,000 to 17,000 range.”
Of course it is true that other analysts have a much different view of things. Many of them are absolutely amazed that the U.S. economy has become so disconnected from economic reality. For example, just check out what Steve Russell and Hamish Baillie, fund managers at the Ruffer Investment Company, recently had to say…
“If this was explained to a recently arrived Martian he would no doubt be puzzled – US unemployment has almost doubled since 2007, GDP [gross domestic product] growth is a third lower and debt as a percentage of GDP is within a whisker of doubling. The market is forward looking but this is extreme”
So who is right and who is wrong?
Time will tell.
Fortunately, it appears that the American people are getting fed up with the constant stream of lies that they have been told.
According to a new Pew Research survey, just 26 percent of all Americans trust the government to do the right thing.
So what about you?
Do you trust what the government and the “experts” are telling you?
Do you trust them to do the right thing?
Feel free to post a comment with your thoughts below…
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L.A. church leaders sought to hide sex abuse cases from authorities
Documents from the late 1980s show that Archbishop Roger M. Mahony and another archdiocese official discussed strategies to keep police from discovering that children were being sexually abused by priests.
Cardinal Roger Mahony wrote memos in 1986 and 1987 that offer the strongest evidence yet of a concerted effort by archdiocese officials to shield abusers from police. (Al Seib / Los Angeles Times / July 16, 2007)
Document: Los Angeles Archdiocese priest abuse files
By Victoria Kim, Ashley Powers and Harriet Ryan, Los Angeles Times
January 21, 2013, 2:31 p.m.
Fifteen years before the clergy sex abuse scandal came to light, Archbishop Roger M. Mahony and a top advisor plotted to conceal child molestation by priests from law enforcement, including keeping them out of California to avoid prosecution, according to internal Catholic church records released Monday.
The archdiocese’s failure to purge pedophile clergy and reluctance to cooperate with law enforcement has previously been known. But the memos written in 1986 and 1987 by Mahony and Msgr. Thomas J. Curry, then the archdiocese’s chief advisor on sex abuse cases, offer the strongest evidence yet of a concerted effort by officials in the nation’s largest Catholic diocese to shield abusers from police. The newly released records, which the archdiocese fought for years to keep secret, reveal in church leaders’ own words a desire to keep authorities from discovering that children were being molested.
In the confidential letters, filed this month as evidence in a civil court case, Curry proposed strategies to prevent police from investigating three priests who had admitted to church officials that they abused young boys. Curry suggested to Mahony that they prevent them from seeing therapists who might alert authorities and that they give the priests out-of-state assignments to avoid criminal investigators.
One such case that has previously received little attention is that of Msgr. Peter Garcia, who admitted preying for decades on undocumented children in predominantly Spanish-speaking parishes. After Garcia’s discharge from a New Mexico treatment center for pedophile clergy, Mahony ordered him to stay away from California "for the foreseeable future" in order to avoid legal accountability, the files show. "I believe that if Monsignor Garcia were to reappear here within the archdiocese we might very well have some type of legal action filed in both the criminal and civil sectors," the archbishop wrote to the treatment center’s director in July 1986.
The following year, in a letter to Mahony about bringing Garcia back to work in the archdiocese, Curry said he was worried that victims in Los Angeles might see the priest and call police.
"[T]here are numerous — maybe twenty — adolescents or young adults that Peter was involved with in a first degree felony manner. The possibility of one of these seeing him is simply too great," Curry wrote in May 1987.
Garcia returned to the Los Angeles area later that year; the archdiocese did not give him a ministerial assignment because he refused to take medication to suppress his sexual urges. He left the priesthood in 1989, according to the church.
Garcia was never prosecuted and died in 2009. The files show he admitted to a therapist that he had sexually abused boys "on and off" since his 1966 ordination. He assured church officials his victims were unlikely to come forward because of their immigration status. In at least one case, according to a church memo, he threatened to have a boy he had raped deported if he went to police.
The memos are from personnel files for 14 priests submitted to a judge on behalf of a man who claims he was abused by one of the priests, Father Nicholas Aguilar Rivera. The man’s attorney, Anthony De Marco, wrote in court papers the files show "a practice of thwarting law enforcement investigations" by the archdiocese. It’s not always clear from the records whether the church followed through on all its discussions about eluding police, but in some cases, such as Garcia’s, it did.
Mahony, who retired in 2011, has apologized repeatedly for errors in handling abuse allegations. In a statement Monday, he apologized once again and recounted meetings he’s had with about 90 victims of abuse.
"I have a 3 x 5 card for every victim I met with on the altar of my small chapel. I pray for them every single day," he wrote. "As I thumb through those cards I often pause as I am reminded of each personal story and the anguish that accompanies that life story."
"It remains my daily and fervent prayer that God’s grace will flood the heart and soul of each victim, and that their life-journey continues forward with ever greater healing," he added. "I am sorry."
Curry did not return calls seeking comment. He currently serves as the archdiocese’s auxiliary bishop for Santa Barbara.
The confidential files of at least 75 more accused abusers are slated to become public in coming weeks under the terms of a 2007 civil settlement with more than 500 victims. A private mediator had ordered the names of the church hierarchy redacted from those documents, but after objections from The Times and the Associated Press, a Superior Court judge ruled that the names of Mahony, Curry and others in supervisory roles should not be blacked out.
Garcia’s was one of three cases in 1987 in which top church officials discussed ways they could stymie law enforcement. In a letter about Father Michael Wempe, who had acknowledged using a 12-year-old parishioner as what a church official called his "sex partner," Curry recounted extensive conversations with the priest about potential criminal prosecution.
"He is afraid … records will be sought by the courts at some time and that they could convict him," Curry wrote to Mahony. "He is very aware that what he did comes within the scope of criminal law."
Curry proposed Wempe could go to an out-of-state diocese "if need be." He called it "surprising" that a church-paid counselor hadn’t reported Wempe to police and wrote that he and Wempe "agreed it would be better if Mike did not return to him."
Perhaps, Curry added, the priest could be sent to "a lawyer who is also a psychiatrist" thereby putting "the reports under the protection of privilege."
Curry expressed similar concerns to Mahony about Father Michael Baker, who had admitted his abuse of young boys during a private 1986 meeting with the archbishop.
In a memo about Baker’s return to ministry, Curry wrote, "I see a difficulty here, in that if he were to mention his problem with child abuse it would put the therapist in the position of having to report him … he cannot mention his past problem."
Mahony’s response to the memo was handwritten across the bottom of the page: "Sounds good —please proceed!!" Two decades would pass before authorities gathered enough information to convict Baker and Wempe of abusing boys.
Federal and state prosecutors have investigated possible conspiracy cases against the archdiocese hierarchy. Former Dist. Atty. Steve Cooley said in 2007 that his probe into the conduct of high-ranking church officials was on hold until his prosecutors could access the personnel files of all the abusers. The U.S. attorney’s office convened a grand jury in 2009, but no charges resulted.
During those investigations, the church was forced by judges to turn over some but not all of the records to prosecutors. The district attorney’s office has said its prosecutors plan to review priest personnel files as they are released.
Mahony was appointed archbishop in 1985 after five years leading the Stockton diocese. While there, he had dealt with three allegations of clergy abuse, including one case in which he personally reported the priest to police.
In Los Angeles, he tapped Curry, an Irish-born priest, as vicar of clergy. The records show that sex abuse allegations were handled almost exclusively by the archbishop and his vicar. Memos that crossed their desks included graphic details, such as one letter from another priest accusing Garcia of tying up and raping a young boy in Lancaster.
Mahony personally phoned the priests’ therapists about their progress, wrote the priests encouraging letters and dispatched Curry to visit them at a New Mexico facility, Servants of the Paraclete, that treated pedophile priests.
"Each of you there at Jemez Springs is very much in my prayers and I call you to mind each day during my celebration of the Eucharist," Mahony wrote to Wempe.
The month after he was named archbishop, Mahony met with Garcia to discuss his molestation of boys, according to a letter the priest wrote while in therapy. Mahony instructed him to be "very low key" and assured him "no one was looking at him for any criminal action," Garcia recalled in a letter to an official at Servants of the Paraclete.
In a statement Monday on behalf of the archdiocese, a lawyer for the church said its policy in the late 1980s was to let victims and their families decide whether to go to the police.
"Not surprisingly, the families of victims frequently did not wish to report to police and have their child become the center of a public prosecution," lawyer J. Michael Hennigan wrote.
He acknowledged memos written in those years "sometimes focused more on the needs of the perpetrator than on the serious harm that had been done to the victims."
"That is part of the past," Hennigan wrote. "We are embarrassed and at times ashamed by parts of the past. But we are proud of our progress, which is continuing."
Hennigan said that the years in which Mahony dealt with Garcia were "a period of deepening understanding of the nature of the problem of sex abuse both here and in our society in general" and that the archdiocese subsequently changed completely its approach to reports of abuse.
"We now have retired FBI agents who thoroughly investigate every allegation, even anonymous calls. We aggressively assist in the criminal prosecution of offenders," Hennigan wrote.
Mahony and Curry have been questioned under oath in depositions numerous times about their handling of molestation cases. The men, however, have never been asked about attempts to stymie law enforcement, because the personnel files documenting those discussions were only provided to civil attorneys in recent months. De Marco, the lawyer who filed the records in civil court this month, asked a judge last week to order Curry and Mahony to submit to new depositions “regarding their actions, knowledge and intent as referenced in these files.” A hearing on that request is set for February.
In a 2010 deposition, Mahony acknowledged the archdiocese had never called police to report sexual abuse by a priest before 2000. He said church officials were unable to do so because they didn’t know the names of the children harmed.
"In my experience, you can only call the police when you’ve got victims you can talk to," Mahony said.
When an attorney for an alleged victim suggested "the right thing to do" would have been to summon police immediately, Mahony replied, "Well, today it would. But back then that isn’t the way those matters were approached."
Since clergy weren’t legally required to report suspected child abuse until 1997, Mahony said, the people who should have alerted police about pedophiles like Baker and Wempe were victims’ therapists or other "mandatory reporters" of child abuse.
"Psychologists, counselors … they were also the first ones to learn [of abuse] so they were normally the ones who made the reports," he said.
In Garcia’s 451-page personnel file, one voice decried the church’s failures to protect the victims and condemned the priest as someone who deserved to be behind bars. Father Arturo Gomez, an associate pastor at a predominantly Spanish-speaking church near Olvera Street, wrote to a regional bishop in 1989, saying he was "angry" and "disappointed" at the church’s failure to help Garcia’s victims. He expressed shock that the bishop, Juan A. Arzube, had told the family of two of the boys that Garcia had thought of taking his own life.
"You seemed to be at that moment more concern[ed] for the criminal rather than the victum! (sic)" Gomez wrote to Arzube in 1989.
Gomez urged church leaders to identify others who may have been harmed by Garcia and to get them help, but was told they didn’t know how.
"If I was the father … Peter Garcia would be in prison now; and I would probably have begun a lawsuit against the archdiocese," the priest wrote in the letter. "The parents … of the two boys are more forgiving and compassionate than I would be."
Statistics: Posted by yoda — Tue Jan 22, 2013 11:45 am
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European Leaders Play With Fire
Posted Jun 29, 2012
The world economy today stands at the doorstep of great change. A gathering crisis looms in Europe, splitting the Continent into two competing blocs. While leaders there face off against one another in a high stakes game of chicken, the rest of the world powerlessly watches the train wreck slowly unfold. Political leaders on both sides of the Atlantic fail to grasp the fragility of the current world order and do not understand the forces they are unleashing. A parallel here can be drawn with the political situation that existed on the eve of the First World War. For the most part European leaders were not bent upon death and destruction. However these largely ordinary men were held captive by national delusions and a complex system of alliances and treaties that had not been thought through to their logical conclusions. This resulted in a situation where a single assassination was enough to plunge the Continent into a bloodbath.
Although we are not on the brink of a world war, leaders today are nonetheless currently faced with economic and financial conditions of a similar dimension. Confronted with economic problems that they are unable to understand and political problems that they are unwilling to untangle, they’re hoping to solve existing problems by injecting ever greater quantities of printed money into their economies. And just as the leaders prior to World War I could not have predicted the massive loss of life that their actions were to bring, so too do world leaders today appear blind to the consequences of unrestrained money creation and the urgent need for free market reform.
Last week’s G-20 meetings were a case in point. Though the conference featured much high sounding talk, there was little effective action. Meanwhile, the world economy moved inexorably towards recession as the Anglo-Americans urged more Quantitative Easing (QE). As indicated in this column, the U.S. dollar has experienced a temporary rise and, as recessionary forces emerged, gold hovered, even sliding in terms of the U.S. dollar.
But, much to the frustration of politicians, all the previous policy errors and prior money creation are simply not producing the desired results. Instead, unemployment remains high and real estate prices continue to stagnate in most parts of the world, devastating the morale of consumers. Businesses, faced with falling consumer demand, continued high taxes and regulatory uncertainty, are hiring at a rate so slow that the number of long-term jobless continues to grow.
Keynesian world leaders look on in barely disguised panic as their policies of cheap, easy money fail to affect meaningful change. QE has lost public credibility and, indeed, has become politically dangerous. Despite this, Keynesian central banks such as the Bank of England, though having halted their $511 billion QE program in May, recently considered flooding the British banking system with even more paper money to encourage business and consumer lending. In his annual policy speech to London financiers on June 14, Bank of England Governor Mervyn King said that, "With signs of deterioration in the outlook, especially in world markets, the case for a further monetary easing is growing."
Meanwhile other central banks, such as the Fed and the European Central Bank, have resorted to disguised QE in the form of ‘twist operations,’ and have lowered the quality of securities they will accept as collateral. But despite all the tricks, both old and new, recession keeps creeping in. They still think the answer is more money. And in much the same way that the generals of World War I continued to order frontal offensives, even after each prior assault had proven useless, today’s politicians continue to pump fiat money into the front lines.
So in such an environment, what are investors to do?
Many buy precious metals. They do this to hedge against inflation and to protect themselves from currency deterioration. As the need for immediate liquidity increases in a recession, though, gold and silver are often sold to provide it. As recession looms, it’s likely that those hedging against inflation are selling off.
As a result, the short-term outlook for gold and silver remains volatile, reflecting chronic political uncertainty. In the longer term, however, precious metals may be set up to rise in price as the promised recovery fails and recession leads to depression. The ensuing political panic and fears of a collapse of the fiat currency system should exacerbate the demand for those assets that are seen as a safe haven.
In a recession, cash is king. But as a currency deteriorates, gold is king. By their panicked misunderstanding of economics world leaders are threatening to create a world of crippled and shell shocked currencies. Investors should look progressively more towards precious metals as a possible safe haven.
Senior Market Strategist
Statistics: Posted by yoda — Fri Jun 29, 2012 5:24 am
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