The parliament of Cyprus today said a big ΟΧΙ! – Ochi! – NO! – to the European Union’s demand to tax bank demand deposits for tribute. But by even thinking of such a step, the EU and the government of Cyprus have done damage neither side can repair. They have broken faith with every man, woman and child who has “money in the bank,” whether that bank be in Cyprus, or elsewhere in Europe, or here in the United States of America.
Tag Archives: gold
Cyprus – canary in the mine
Cyprus has a long and troubled history – pawn in war for thousands of years, divided to this day between Greece and Turkey. Today, like a canary in a coal mine, Cyprus signals the total economic and social collapse that threatens all Western economies, This should surprise no one.
Bernanke sets up a crash
Don’t let that nice, comfortable grandfatherly look on Mr. Bernanke’s face fool you. He is as evil and destructive as George Soros and all the anti-American projects he funds. For those of us who have religious backgrounds the words “Father, forgive them for they know not what they do” can soften our hearts for those that have done wrong in an attempt to do right.
Fiscal Cliff: Obama throws away chances?
Barack Obama wants to be President for Life. To do that he must show himself a voice of reason against a stubborn foe. But he threw away John Boehner’s cowardly deal on the fiscal cliff. When he did that he showed himself, not reasonable, but vindictive and spiteful. This will not win him the friends he needs, nor help the economy, either.
Fiscal Cliff: What Color Is Your Hang Glider?
America will go over the fiscal cliff. Putative President Barack Hussein Obama decided that yesterday. He sent out a (literally) ridiculous plan that would be worse even than the “sequester.” This, after he shot back to Mitt Romney that “it won’t happen.” If Republicans have any courage at all, they will walk away from this. Let the “sequester” play out. In fact, in moral terms they may do nothing else.
Gold and silver: thumbs down on Obama
The gold, silver, and stock markets weighed Barack Obama in the balances this week and found him lacking. Even the cold, hard professionals now agree: Barack Obama destroys value. Only gold and silver can save it now.
Quantitative Easing: Theft!
Ben Bernanke, head of the Federal Reserve, announced another round of “quantitative easing” yesterday. The Fed will buy $40 billion worth of mortgage-backed bonds every month, until further notice. When he said that, stocks and commodities (including oil and precious metals) both rose in price. Bonds, especially the longer-term bonds, went down, and their yields went up. This “quantitative easing” program will not and cannot add more wealth to the economy. Instead it will steal a lot of wealth, mainly from the poor and especially the middle class, for the temporary benefit of stock investors.
Gold and silver ready to rise?
Gold and silver sell today at bargain basement prices. Those prices have held for nearly a year. But now those prices might rise and not look back.
Credit rating downgrade for America
America saw another downgrade on its credit rating last week. The White House ordered the press to keep quiet and they meekly obeyed. But that’s not the worst problem. If the Big Three follow through on the downgrade, prices of all commodities, including gold, silver, and oil, could rise sharply.
Alternative currency in your future?
Will Americans ever use alternative currency in numbers to challenge the regular currency? News flash: the Greeks turned to alternative currency last fall, and the Greek government won’t stop them. And some say that Americans might have to use alternative currency, whether the government likes it or not.
