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Yesterday we wrote about
the Cyprus bank “bail-in” noting that while ordinary citizens
were screwed, connected insiders had ample time to get their money out of the
banks before they were frozen.
Today, we note the
following:
Russian oligarchs
who are close to Vladimir Putin have a week to get their cash out of Britain
before sanctions are imposed, it has emerged.
European Union
officials started on Tuesday to prepare the list of businessmen and Moscow
officials who will be targeted by the sanctions.
Philip Hammond, the
Foreign Secretary, has made clear the Britain’s desperation to take
action at those close to Mr Putin’s regime, saying "the cronies
of Mr Putin and his clique in the Kremlin are the people who have to bear the
pressure".
However, British
sources disclosed that it will not be until the end of the month that all EU
countries will have prepared their lists of individuals to be hit with the
sanctions.
The length of time
before any action against these so-called Putin cronies will fuel concerns
that they can withdraw their money before sanctions are imposed.
http://www.telegraph.co.uk/news/politics/1098...s-its-feet.html
We don’t ever recall
hearing of an instance in which ordinary citizens or taxpayers were given a
heads up to get their money out of harm’s way. Usually when they
bear the pressure it’s measures in Dollars… not the number of
days’ warning they are given to save their capital.
Indeed, there are usually
no warnings that trouble is coming because everyone at the top of the
financial food chain are highly incentivized to keep quiet about problems.
Central Banks, Bank CEOs,
politicians… all of these people are focused primarily on maintaining
CONFIDENCE in the system, NOT on fixing the system’s problems. Indeed,
they cannot even openly discuss the system’s problems because it would
quickly reveal that they are a primary cause of them.
Remember back in 2007 and
2008? Time and again then-Fed Chairman Ben Bernanke stated that the sub-prime
crisis was “contained” and that there would be little spillover
into the economy.
Bernanke was not alone.
Just about every CEO from every major bank spent much of 2008 claiming that
all was well, that there was no real need to raise capital, and that their
exposure to toxic mortgage backed securities was minimal.
Most of their banks had to
be either merged with other entities or went bankrupt.
For that reason, you will
never and I repeat NEVER see a Central banker, Bank CEO, or politician admit
openly what is happening in the financial system.
Even middle managers and
lower level employees won’t talk about it because A) they don’t
know the truth concerning their institutions or B) they could be fired for
warning others.
As former banker
Jean-Claude Juncker put it, "When it becomes serious, you have to
lie."
So why does these people
lie?
Central bankers lie because
they draw all of their power based on the fact that they are beyond oversight
or regulation. The minute they lose this power, it becomes obvious that
Central Banks and Central Bankers are one of the primary causes of the
financial system’s problems.
Ordinary bankers lie
because if they were honest, their banks would collapse, they would lose
their salaries/ bonuses, and they would very likely face legal actions.
This is why no one in a
position of financial power will ever publicly state, “such and such
bank is in trouble… it would be wise to move your money.”
Instead, what you’ll
be told is, “we need to confiscate some of your savings to prop this
bank up… if you don’t agree to this, the bank will collapse and
you’ll have nothing.”
This is of course, assuming
you are even told this. As the folks in Cyprus found out, often times
they’re not even told what’s going to happen, they simply wake up
to find themselves locked out of their account.
This concludes this
article. If you’re looking for the means of protecting your portfolio
from the coming collapse, you can pick up a FREE investment report titled Protect Your Portfolio
at target="_blank" http://phoenixcapitalmarketing.com/special-reports.html.
This report outlines a
number of strategies you can implement to prepare yourself and your loved
ones from the coming market carnage.
Best Regards
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