This article you're about to read is written by, Nick Barisheff President and CEO of Bullion Management Group Inc. He is going to share and break down the mess Cyprus banking system member of the European Union (EU) has created now with the dismissal of their CEO Yiannis Kypri. It'sT not at all pretty; we have no idea what the people of Cyprus are feeling, more than likely the same way we would react if we had no access to our money. Nick Barisheff illustrates the three primary reasons, breaks them down and, more importantly, paints a picture that you will see very clearly.
I have been watching and reading the developments that have been taking place had no idea what was happening until l was introduced to Nick Barisheff article today. Knew it was bad but Nick made sense on why it's happening. Yes, l have written and followed Nicks predictions, his interviews with Greg Hunter of USAwatchdog and many others that he has shared his insights on why his research is based on hard cored financial facts. He's also the author of $10,000 Gold: The Inevitable Rise Is the Investor's haven, to be released on May 1, 2013.
By Nick Barisheff
By now most people are aware of the events unfolding in Cyprus. The financial world was rocked by the announcement that the "Troika" of the European Commission (ECB), International Monetary Fund (IMF). Along with the European Commission (EC) decided to give the tiny island of Cyprus an ultimatum - either pay a 9.9 percent wealth tax on deposits over 100,000 euros, or leave the EU. this tax would be taken directly from banking savings accounts. The expropriated funds would be used to "bail out" troubled Cypriot banks. those banks will, in turn, pay off larger European banks to which they owe money. Because some Cyprus banks will fail, some investors stand to lose up to 40 percent of their deposits and many bank employees will lose their jobs.
To describe the events in Cyprus and their relevance to gold, we can state with the analogy of a peaceful, self - satisfied Western investor asleep in a dark room. He has had trouble sleeping lately because he is starting to become more concerned about the safety of his personal wealth. He unaware that he is sharing his room with three elephants. They come each night but remain hidden by the darkness. He awakens for a moment and lights a candle. Suddenly the room is illuminated, and he sees the three beasts. the vision terrifies him, so he races to blow out the candle hoping to forget what he saw. Of course, once the light shines in truth it's hard to return to a state of ignorance. the events in Cyprus had the effect of turning on the lights, if only for a moment, before the financial media and the world's central bankers began a blitzkrieg campaign of denying the truth that was briefly exposed. The Internet captured the picture and allowed those who understand the dark side of international banking and the fiat Ponzi scheme upon which most of our lives depend on to share their knowledge of the three elephants
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|Nick Barisheff President and |
CEO of Bullion Management Group Inc.
All the Best,
Joseph F. Botelho One Gram at a Time
"Pay Yourself First Because the #Economy that Matters Most... is the One in Your Own #Home" https://t.co/wo7XWWjaFZ pic.twitter.com/VSVAtkJ6El— Joseph Botelho (@jfbmarketing) January 19, 2016