On February 22 2013, we released an article focusing on the little known fact that depositors’ savings were at risk in Europe. At that time we wrote: It’s a little known fact about the Spanish crisis is that when the Spanish Government merges troubled banks, it typically swaps out depositors’ savings for shares in the new bank. So… when the newly formed bank goes bust, “poof” your s... read more
Today legendary trader Jim Sinclair spoke with King World News about the disaster in Cyprus, the timetable for a new monetary system, Russian chess moves, and what to expect from gold.  Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say.
 
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Customer funds were long considered 'sacred' at brokerage firms, and were segregated from the proprietary operations of the company. And they were stolen at MF Global, and no one has been punished. Bank deposits, protected by insurance and the guarantees of the government, were long considered 'sacred' at financial institutions. And they are being stolen in Cyprus as a matter of convenience... read more
Call it the Rick Perry gold rush: The governor wants to bring the state’s gold reserves back from a New York vault to Texas. And he may have legislative support to do it. Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Inve... read more
Uncounted Liabilities One of the most interesting issues of what has happened in Cyprus is where was the problem three weeks ago? There was not a mention, not a hint of anything that was wrong. All of the banks in Cyprus had passed each and every European bank stress test. The numbers reported out by the ECB and the Bank for International Settlements indicated nothing and ev... read more
In the aftermath of the disaster in Cyprus and escalating fears from investors around the world that their savings will be confiscated, today King World News spoke with Michael Pento to ask him what people should expect going forward. Pento spoke candidly about the frightening situation the West faces in the future. Eric King: “Obviously (after Cyprus) people are worried that governments... read more
 
Whether you live in Cyprus, England, Japan, the United States, or elsewhere, the battle for financial survival is taking on new dimensions. At issue is the steady dilution of the purchasing power of money that is perpetrated by the world's central banks, and worries about confiscation and taxation of monies by government authorities. E... read more
In Niall Ferguson's Civilization: The West and the Rest, he presents a list of institutional arrangements that turned a bunch of ignorant, "malodorous" Europeans into the world's dominant culture in the space of a couple of centuries. One of those institutional arrangements was property rights. That is, when something is yours it's yours, not the king's or the clergy's or the local lord's. A co... read more
Today top trends forecaster Gerald Celente told King World News that the financial system is breaking down and collapsing right before our eyes. Celente had correctly forecast back in 2012 that a bank holiday would occur in Europe, and also said events continue to spiral out of control going forward. Celente is the founder of Trends Research, and the man many consider to be the top trends for... read more
Check out Jim Rickards discuss Texas' proposed gold legislation with Jim Rickards. Will you soon be able to store your gold under the guidance of the state of Texas? Maybe. http://ph.news.yahoo.com/video/why-texas-may-start-hoard-171030599.html>The Daily Ticker's Lauren Lyster discusses Texas' proposed gold le... read more