People will now move more aggressively to physical gold and silver so that their money can’t be stolen. What we are seeing right now is absolutely unprecedented. Yes, we have seen governments seize pension funds in the past, but this is outright theft of depositor money.
What we are witnessing right now is the beginning of the great Ponzi scheme unwinding. Unless Cyprus is entirely bailed out by the ECB, what we are seeing is a pivot point where confidence in the system will be called into question on a global scale. It’s obvious to everyone out there that the problems in the West are systemic in nature.
It’s not beyond the realm of possibility that they pull off a stunt like this in Spain, Portugal, or one of the other PIIG countries. Nigel Farage has already been warning people to get their money out of the banks because he sees what is coming. So now the new precedent may be for countries and banks that are in trouble to simply steal from depositors.”
Barron also added: “When we talk about the rise in the East and the fall of the West, you can really see it here in Asia. I am currently in Indonesia, having come here from Hong Kong. I can see why Marc Faber and others choose to live in Asia because it is incredibly dynamic. There is building going on everywhere. There are also new businesses sprouting up everywhere.
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.