Things are hotting up on another front too...........keep an eye....did Chevez get all Venezuelas gold back btw?

[quoteAnother Gold Shortage? Dutch ABN To Halt Physical Gold Delivery
]Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."

3 times now irish ministers have gone on TV telling the irish public this could never happen here....

Cue..

/trollface.

andyh wrote:
Well, a bit more on how people DO react when they believe their deposits are at risk...when the GFC became apparent, Australians immediately started taking their money out of banks, after watching the line-ups at the tellers in the US.

It became that much of a problem that the Prime Minister had to address the nation and 'guarantee' all bank deposits up to 1 million dollars per account.

www.canstar.com.au/term-deposits/government-deposit-guarantee/

Theyve since dropped the guarantee to 250k per account. So what are those with more than that going to be thinking right now? Or doing?

It results in less deposits imo, and thats what will happen to the cypriot banks also, unless they lock people out of withdrawing, which is then effectively a 100 percent grab in the moment.

Now, in the aftermath of the deposit tax in Cyprus, it appears that "wealth taxation" in Switzerland is about to be taken up a notch.

As the leading Zurich financial media NZZ reported and Reuters summarized, the country has reached a deal in principle with the United States over undeclared funds hidden by wealthy Americans in Swiss offshore bank accounts. Naturally, the state was quick to deny it - after all, the last thing they need is a prompt exodus of all big offshore accounts held locally as fears of a Cyprus "wealth tax" on big accounts spreads.
Alas, this may be precisely what is happening. From Reuters:
The plan outlined by the NZZ am Sonntag would see each Swiss bank with U.S. clients negotiating individual settlements with the United States for its role in hiding untaxed money.
Most of the 13 banks in the crosshairs of U.S. justice officials, which include Credit Suisse and Julius Baer, have said they are already in settlement negotiations.
What is new is that the remainder of Switzerland's more than 300 banks with U.S. clients would have to seek a U.S. settlement individually, according to the NZZ.

Jane.
Subjects such as this often involve people calling for a precious metal backed currency. Which is every bit as dumb as a fiat one in my book. When you look into things, thus backed currencies merely open another door for the 'super wealthy' to exert control.

And there's more boys....www.zerohedge.com/news/2013-03-24/switze...nt-data-us-officials


Jane

twitter.com/alexapostolides/status/315954673632813056/photo/1

Interesting

German and cypriot barcoding.

I wonder if we can discover what the other countries barcodes are?
Does china have 1? :p

www.sigmalive.com/news/local/36909

Hell in a handbasket sheesh.
IED's now nevermind bulldozers

I really don't see how the Cypriot banking system is going to survive this. All the wealthy investors are going to pull their money out. There won't be anything left.

Again not directly related to Cyprus....but could be important in the great scheme of things.....
There are unconfirmed reports that Assad has been assasinated by one of his bodyguards. There are also reports that he is alive...just... and under heavy guard in hospital. The original report was made here eltira.org....needs google translate


Jane

BBC......Cypriot chappy in talks with Troika...before he approaches ECB....there are 'whispers that the proposal has been rejected to which he has replied (rough quote) " I came with one offer which you rejected, I come back meeting what you wanted..you still reject i9t. What do you want me to do? Resign?"

Jane