Now that a member of modern, responsible banking system, Cypress, has gone the way of taking depositor's money to save itself, the cat is out of the bag, the precedent is set.
1. No one can ever claim they did not understand how the game works. Legally, you do not own the money you deposit in the bank. Your claim is secondary to the needs of the bank, and the banks owners, and the system in which it operates.
2. Now that it worked, with zero repercussions (so far) Cypress which was once trending toward freedom will join Sicily in centuries of poverty. But since it worked so well, the policy will be tried again and again. The proposition is pitch perfect: "We are taking YOUR money because OFFSHORE investors have put theirs in with your accounts. If you object to this, we'll have to reduce the free $#!t you get from us." Like squirrels in the parks, people organize around the freebies.
The funny thing is, the freebies will end anyway.
The game is always the same. Lend money at interest. Fractionally reserve money, and create currency to lend at interest. Lend credit at interest. Crash. those who can print indefinitely buy up assets from distressed buyers. Those who control the means of production then fund the armies that enforce the rules. Poverty as far as the eye can see.
The only defense is never take that first loan at interest.
The winds blow on the edges first, and then sweep into the center of civilization. The idea that you can escape this in any way is delusional. Here is a very successful computer programmer who based himself in pleasant Cypress, hired many locals, and had his assets seized. Check out his online statement. This is YOUR future:
A computer programmers business depends on money coming in, money going out, constantly. Money comes in for a coding project, money goes out to the coders. Figure this guy works on 10% margin, see how much he is constrained, well, he is out of business. Stop the money, the business dies. Lay off his workers. It's a downward spiral.
History shows people go to gold and silver at these points, but this poor world trader in coding will have a heck of a time coming up with a viable alternative payment system.
A free market would solve this, so step #1 is deregulate banking and get the state out of it. All the Government backed banks would fail, and we'd have as great and economic renaissance as we had when we deregulated telephony back in 1980.
On the other hand, this fellow could move deeper inside the system, say Berlin, and do his work more locally, where the banks still function. But he'll find the influx heavy, competition heavy.
Gold and silver won't help, because there will be nothing to buy, no where to go. All countries will be affected, and USCitizens blamed the most. Those who are depending on pension, paycheck or property (and bank accounts are property) will be hit the hardest.
When gale force winds blow, you head into harbor, pull down the sales, and hunker down to ride out the storm. Get a business going that actually provides a value. There is hope.
Feel free to forward this by email to three of your friends.
Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, the source told Reuters, while the rest of their deposits may never be paid back.
The toughening of the terms will send a clear signal that the bailout means the end of Cyprus as a hub for offshore finance and could accelerate economic decline on the island and bring steeper job losses.
1. No one can ever claim they did not understand how the game works. Legally, you do not own the money you deposit in the bank. Your claim is secondary to the needs of the bank, and the banks owners, and the system in which it operates.
2. Now that it worked, with zero repercussions (so far) Cypress which was once trending toward freedom will join Sicily in centuries of poverty. But since it worked so well, the policy will be tried again and again. The proposition is pitch perfect: "We are taking YOUR money because OFFSHORE investors have put theirs in with your accounts. If you object to this, we'll have to reduce the free $#!t you get from us." Like squirrels in the parks, people organize around the freebies.
The funny thing is, the freebies will end anyway.
The game is always the same. Lend money at interest. Fractionally reserve money, and create currency to lend at interest. Lend credit at interest. Crash. those who can print indefinitely buy up assets from distressed buyers. Those who control the means of production then fund the armies that enforce the rules. Poverty as far as the eye can see.
The only defense is never take that first loan at interest.
The winds blow on the edges first, and then sweep into the center of civilization. The idea that you can escape this in any way is delusional. Here is a very successful computer programmer who based himself in pleasant Cypress, hired many locals, and had his assets seized. Check out his online statement. This is YOUR future:
A computer programmers business depends on money coming in, money going out, constantly. Money comes in for a coding project, money goes out to the coders. Figure this guy works on 10% margin, see how much he is constrained, well, he is out of business. Stop the money, the business dies. Lay off his workers. It's a downward spiral.
History shows people go to gold and silver at these points, but this poor world trader in coding will have a heck of a time coming up with a viable alternative payment system.
A free market would solve this, so step #1 is deregulate banking and get the state out of it. All the Government backed banks would fail, and we'd have as great and economic renaissance as we had when we deregulated telephony back in 1980.
On the other hand, this fellow could move deeper inside the system, say Berlin, and do his work more locally, where the banks still function. But he'll find the influx heavy, competition heavy.
Gold and silver won't help, because there will be nothing to buy, no where to go. All countries will be affected, and USCitizens blamed the most. Those who are depending on pension, paycheck or property (and bank accounts are property) will be hit the hardest.
When gale force winds blow, you head into harbor, pull down the sales, and hunker down to ride out the storm. Get a business going that actually provides a value. There is hope.
Feel free to forward this by email to three of your friends.
1 comments:
I bought a small amount of bitcoin currency and its worth its gold today. Check it out http://bitcoin.org/en/how-it-works
/Jacob
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