Celente – The Financial System Is Collapsing Before Our Eyes Cyprus May Become Europe’s Lehman, Billionaire Potanin Says

“First we thought they were going to happen in the United States, but we didn’t know they were going to be dumping quantitative easing unlimited into the economy.  This is unprecedented.  So we knew there was going to be a bank holiday, and in 2012 we started warning about bank holidays in Europe.  I’ve been saying it for the last 14 months, there are going to be bank holidays…“You cannot prop-up banks just by pumping in new money, and after there is none left, then go to the people and call it austerity measures.clip_image001

Then take all of their money and give it to the banks, and when that fails, there is nothing left.Right now we are almost to the point of nothing left.  Cyprus is the one that everyone should look at.  We believe it’s a test case.  So with Greece already down, Spain out, Italy on the edge, and Portugal gone, Ireland barely floating, to us Cyprus was the test case to see what they can do to steal the money from the people one more time.”“You know by now that there was Russian money, we had been reporting on that ahead of the curve the fact that it was ex-KGB (money), it was their Switzerland.  The vote came in against this (theft), and people were fearing for their lives in the (Cyprus) government.  Your thoughts there because you can’t steal from the Russians.  They are going to kill you.”Yes … The central bankers are going to learn it.  They all lost by going after the Russians.  These are the Russians, they don’t give up.  All Cyprus is, it’s (similar to) a division of the Grand Cayman Island, it’s just a different group of people washing and money laundering.  But this is about much more than Cyprus, bank runs, and stealing money from the depositors.  What we are looking at, Eric, on another level is an alliance, an alliance leading to wars.

Look, they just appointed a new President in China, Xi.  Where is the first place he went to visit?  Moscow.  Putin.  Then there is Iran.  So you can see the alliances already forming:  It’s China, Russia, and Iran, against the United States, the Arab League, and Nato.And then you look at where the United States is now moving its military – Asia.  Currency war, trade war, world war.  When all else fails they lead you to war.  The systems are breaking down.  The whole thing is collapsing.”Celente also added: “People always say to me, ‘Mr. Celente you are always talking about gold.  What are you going to do with gold when everything collapses and there is no money?’  Well, let’s say you are a Cypriot and all of the ATM machines are out of money and the banks are closed?  Do you think those pieces of silver are going to buy you what you need?  Do you think that ounce of gold is going to get you what you want?  That’s the real money.  There is no other money.  When it all comes down, gold and silver are the only things you have to buy what you need, get what you want, or even get out if you need to.”

Cyprus May Become Europe’s Lehman, Billionaire Potanin Says

Cyprus is undermining trust in European banks and can be likened to Lehman Brothers Inc., whose collapse ignited the 2008 global economic crisis, Russian billionaire Vladimir Potanin said.

“Very serious” levels of capital may be taken out of the island nation, destroying the economy and hurting the European Union, Potanin, chief executive officer of OAO GMK Norilsk Nickel, the world’s biggest producer of the metal, said in Moscow today.

Cyprus is seeking to rescue its economy, the euro region’s third-smallest, after local lawmakers rejected an unprecedented 5.8 billion-euro ($7.5 billion) levy on bank deposits demanded by European finance ministers as a condition for a 10 billion- euro aid package. Cypriot Finance Minister Michael Sarris is in Moscow this week to discuss a bailout with Russia, the nation’s biggest foreign investor.

“The situation in Cyprus kind of reminds me of the situation with Lehman Brothers,” Potanin told reporters in the Russian capital. Lehman, once the world’s fourth-largest investment bank, filed the biggest bankruptcy in U.S. history in September 2008.

“Cyprus just messed up,” he said.

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IMF head Lagarde’s flat searched in Bernard Tapie probe
20 March 2013 Last updated at 11:42 ET

French police have searched the Paris apartment of IMF chief Christine Lagarde, as they investigate her role in awarding financial compensation to businessman Bernard Tapie in 2008.

As finance minister, she referred his long-running dispute with bank Credit Lyonnais to an arbitration panel, which awarded him 400m euros (£340m) damages.

Mr Tapie was a supporter of ex-President Nicolas Sarkozy.

Critics say she abused her authority but Ms Lagarde denies any wrongdoing.

“This search will help uncover the truth, which will contribute to exonerating my client from any criminal wrongdoing,” Ms Lagarde’s lawyer, Yves Repiquet, told the Reuters news agency.

The BBC’s Christian Fraser in Paris says investigators suspect Mr Tapie was granted a deal in return for his support of President Sarkozy in the 2007 election.

There is speculation in France that Ms Lagarde could yet be placed under formal investigation in this case, he adds.

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Exclusive: Euro zone call notes reveal extent of alarm over Cyprus
BRUSSELS | Thu Mar 21, 2013 8:15am EDT

(Reuters) – Euro zone finance officials acknowledged being “in a mess” over Cyprus during a conference call on Wednesday and discussed imposing capital controls to insulate the region from a possible collapse of the Cypriot economy.

In detailed notes of the call seen by Reuters, one official described emotions as running “very high”, making it difficult to come up with rational solutions, and referred to “open talk in regards of (Cyprus) leaving the euro zone”.

The call was among members of the Eurogroup Working Group, which consists of deputy finance ministers or senior treasury officials from the 17 euro zone countries as well as representatives from the European Central Bank and the European Commission. The group is chaired by Austria’s Thomas Wieser.

Cyprus decided not to take part in the call, a decision that several participants described as troubling and reflecting the wider confusion surrounding the island’s predicament.

“The (Cypriot) parliament is obviously too emotional and will not decide on anything, if Cyprus does not even feel that they can attend the call it is a big problem for us,” the French representative said, according to the notes seen by Reuters.

“We have never seen this.”

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Eagle Sales Soar Even as Metal Prices Fall
By Debbie Bradley, Numismatic News
March 18, 2013

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Sales of 1-ounce silver and gold American Eagle coins are soaring as market prices for the precious metals drop.

In fact, February sales of gold Eagles from the U.S. Mint were up 240 percent year over year, with sales of silver Eagles up 126 percent from February 2012 to 2013. The total number of troy ounces of gold sold during the two months in the form of Eagles was 230,500. For silver, the total was 10,866,500.

“More buyers are turning to physical gold and silver because of concerns over the U.S. debt and the crisis this huge debt level may bring to the U.S. economy over the next several years,” said Michael Haynes, CEO of American Precious Metals Exchange (APMEX).

Gold sold for about $1,750 an ounce a year ago, while today it hovers around $1,575. Silver dropped from around $34 an ounce in February 2012 to around $29 a year later.

“January and February for us were record type months,” Haynes said. “Our volume is extremely good; the physical markets are alive and well.”

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2 thoughts on “Celente – The Financial System Is Collapsing Before Our Eyes Cyprus May Become Europe’s Lehman, Billionaire Potanin Says

  1. I like the Bailout cartoon. One difference the guys with the masks go to jail while the others get a raise. Bad times we live in and they are only going to get worse.

  2. This is Humpty Dumpty falling of the wall and cannot be put back together again one thing I notice no one fears God or shows love for him by saying ha what a minute we better start praying for his mercy yes look the good are suffering with the bad as Our Blessed warned

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