The Russian interests will win if nobody touches their deposits. The Russian interests will lose if deposits over 100,000 euros are taxed significantly with no exception. So, really, the face down is still in process.
There is nothing else to agree to except the confiscation amount, to agree if depositors are in fact lenders to a bank which you can legitimately attack. Confiscation of the Russian money, my money, your money, is just plain theft. Call it whatever you want to call it. But decisions made in Cyprus now will set a course that will take us to the chaos of 2015 to 2017, and to a restructuring of the monetary system in 2020.”
Sinclair added this regarding gold: “It’s obvious that the intention of the paper market for gold is to collapse the price under $1,600. The buyer of this market has been the physical buyer. The transition we are going through is, who is the arbiter of price, paper or physical?
Read the complete article at King World News here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.