TheStar.com | Tensions rise in the Korean Peninsula after S. Korea’s foreign minister warns that N. Korea is expected to conduct a missile launch as early as Thursday. View full post on Infowars
Washington Post | Labor and business groups accuse each other of imperiling comprehensive immigration reform. View full post on Infowars
Do you see now why I’ve been preaching that you should own physical gold and silver coins? Cyprus was the empirical evidence that I needed to prove my point. See, if one day you woke up and turned on the news to find out that all 401K’s and IRA’s were on holiday for a week because the Government was taking 10% out of all of them… you’d have NO recourse.
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What happens in Cyprus doesn't necessarily stay in Cyprus. The media says it can't happen here but it can. If several major U.S. banks failed, trillions of deposits would be at risk, including hundreds of billions insured by the FDIC. However, the FDIC barely has any reserves to cover the potential losses. A bigger bailout than tarp would be required to bailout depositors. Where would the government get the money? If the Fed prints it, deposits would lose much more value to inflation than Cyprus depositors are paying in deposit taxes!
The Schiff Report (3/18/13) |
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