Jim Sinclair, “Get Your Ass(ets) Out of the Banking System. Now.”
Please read and re-read the extremely wise words of Jim SInclair how to protect yourself.
Here is a link to his latest GOTS (Get Out of The System) advice. In this post Jim states that there is
“A BLACK HOLE IN ALL MAJOR AND SOME MINOR BANKS IN NORTH AMERICA AND EUROLAND”.
CYPRUS
The Cyprus event may later, in the history books, be seen as the catalyst of the fall of a century long Ponzi scheme. This could rank in line with the shot in Sarajevo as the start of WW1 or the collapse of Kreditanstalt in 1931 as the start of the Great Depression.
Isn’t it ironic that exactly 100 years after the creation of the Fed (a private bank created for the benefit of bankers) that the fragile and bankrupt financial system is likely to fall due to the insolvency of a couple of Cypriot banks.
But what is happening in Cyprus will not be the reason for a collapse but just the trigger for what has always been inevitable.
There are only two possible outcomes of the crisis we are now in:
- Either there will now be a run on the massively leveraged (25-50 times) banking system which would lead to no debt being repaid and a deflationary collapse.
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Whistler Blowers, Insiders
Is it coincidence that “bankrupt” begins with the word BANK?… I think not…
We should have never kept our money in a bank in the first place. Charge me money to spend my own money and then give loans out that I have no control of with my money and then lose it and my money. It’s the most retarded system in the history of ever. If you use a bank for anything other then to pay a bill you’re honestly a complete retard. Use cash, only use a bank when it saves your money, other then that keep it in your safe.
Spot on! Banks (who lend out your money at interest) charge you to lend them your money; charge you to look at it, charge you to count it, spend it, transfer it, hold it… and make money lending it out. Not many people notice that and those who do just agree with the meme: “oh, someone’s got to look after my money and anyway, my bank charges are less than anywhere else…”
Good one.